How many bitcoin are on chinese exchanges?

Hell-raiser

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Quote from: bs9 on October 25, 2017, 07:30:57 AM

Quote from: muenze on September 08, 2017, 03:28:12 PM

Do we know a % of about how many bitcoins are in chinese exchanges?
I could see many chinese people transfer them out either to paper wallets or for cash.

But it cant be more than like 10% of bitcoin? Thats actually in chinese exchanges?

Thanks.

China is the biggest marketplace for bitcoin mining.I heard 20% of total bitcoin used in china .As a result, we face big problem when china try to ban ico and bitcoin

This seems to be a mistaken opinion or common delusion. We don't know how many bitcoins the Chinese citizens have but it has been proven on multiple occasions that the bans that China is going to impose on Bitcoin don't mean a thing. They tried it in the past but failed, and there is no reason to think that they won't fail in the future. And while this country controls Bitcoin mining, that doesn't inherently mean that they are a factor in Bitcoin trading. If anything, Chinese mining can be easily substituted if China decides to put a ban on it, and that's likely the reason why they don't and won't.

bs9

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Quote from: muenze on September 08, 2017, 03:28:12 PM

Do we know a % of about how many bitcoins are in chinese exchanges?
I could see many chinese people transfer them out either to paper wallets or for cash.

But it cant be more than like 10% of bitcoin? Thats actually in chinese exchanges?

Thanks.

China is the biggest marketplace for bitcoin mining.I heard 20% of total bitcoin used in china .As a result, we face big problem when china try to ban ico and bitcoin.

Razick

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I think China is taking a page from the US and getting their and in the cookie jar before we see astronomical prices.

The fact JP Morgan is investing now, as well as USA and China (don't get it twisted, they are all for Bitcoin and crypto) means they see the price going higher than $5,000 (otherwise they would not be buying). If they predict this, what position am I in to say otherwise? Although, I have been saying the same thing this whole time so yeah...

william8829

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Quote from: xdev on September 08, 2017, 05:34:43 PM

The four major ones, Bitfinex, OKcoin, Huobi and BTCC hold approx. 23-24% of the total Bitcoin supply. Not counting BCC

But the rumours are looking false so no worry

Bitfinex is not subject to the PBOC ban.

Binance has stopped Chinese from trading. It will still function without disruption for international traders.

https://twitter.com/bitfinex/status/908397018728595456
https://binance.zendesk.com/hc/en-us/articles/115001567991

deisik

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Quote from: muenze on September 13, 2017, 06:07:20 AM

Actually I am a little suprised now because this post claims 98% (!) of bitcoin trading volume is from china.

https://www.coindesk.com/estimating-data-china-real-bitcoin-trading-volumes/

How could this be real? Even if he says "realistically its more like 80%" thats still an insane number. So is Bitcoin already controlled by the chinese?

And americans, europeans, and other continents just HODL it, but not trade?!

That has been explained numerous times already

This trading volume is obviously fake. Wtf, even the Chinese central bank inadvertently proved exactly that earlier this year when it had prohibited the Chinese exchanges from free-of-charge trades (i.e. without trade commissions). After that the trading volumes at all such exchange plunged massively, But now it seems like they have taken again to their old habits of selling and buying the same bitcoin to and from infinite number of times, thereby pumping the trading volume right into the sky

muenze

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Actually I am a little suprised now because this post claims 98% (!) of bitcoin trading volume is from china.

https://www.coindesk.com/estimating-data-china-real-bitcoin-trading-volumes/

How could this be real? Even if he says "realistically its more like 80%" thats still an insane number. So is Bitcoin already controlled by the chinese?

And americans, europeans, and other continents just HODL it, but not trade?!

muenze

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China is the hugest country tho, and they may also have interest in currency manipulation as they have been doing with the $ for decades to benefit their exports.

BChydro

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Quote from: Phillionex Project on September 09, 2017, 01:51:31 PM

I think the chinese exchanges have a lot of bitcoin on their exchanges that's why they can manipulate with FUD news....like they did this week

If you are looking at the total trading volumes the Chinese does have the upper hand if you look at the charts and these sort of news will make a huge dent in the market capital of bitcoin and the rest of the alt coins,it is really sad to see these kind of situation because it is emerging from a single country and the entire market is bleeding.

muenze

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Quote from: ahmedjamal1998 on September 09, 2017, 04:43:41 PM

But it actually gets scary .
If just the trading volume is taken into consideration then that's more than 15% of the available bitcoins in rotation.

I dont think its actually scary if its just 15% of the total bitcoins worldwide that is held in exchanges, is from china.

Because the current crash for bitcoin is around this 15% number, depending on what you want to set as base. Maybe without the bad china news bitcoin would be $5000 now. 15% away of that is 4250. And the situation in china isnt that they actually lost their bitcoin, not at all. It just seems that its a little higher risk for them as of now. So basically you can say this is already in the current bitcoin price now.

So lets say on monday china bans bitcoin (just hypothetically, as a worst case scenario which isnt likely at all, but just assuming the worst case), it would already be in the current bitcoin price.

ahmedjamal1998

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It's not possible to exactly know how many bitcoins they own. But it actually gets scary .
If just the trading volume is taken into consideration then that's more than 15% of the available bitcoins in rotation.

That's actually kinda believable. China has been part of the crypto scene for a lot now and they are also responsible for all the manipulations that occur (they happen at their exchanges.)

We still don't know how many bitcoins are held in cold wallets or held for the future.
All I can say is it's not good that all the those coins are in the possession of a single region of the world.
I heard that China is going to ban exchanges. I don't know if it's gonna happen or not.

musicman90

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I just made a post about this which shows some rather scary figures, They may not be not a true reflection of the market but from what I found CNY transactions over the past two years are greater than all other currencies combined and their three main exchanges are responsible for around 95% of all trades in BTC value. No wonder the China news creates such massive drops Shocked

https://bitcointalksearch.org/topic/china-thoughts-and-data-much-more-impact-than-we-think-2164246

deisik

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Quote from: muenze on September 08, 2017, 05:43:51 PM

Quote from: xdev on September 08, 2017, 05:34:43 PM

The four major ones, Bitfinex, OKcoin, Huobi and BTCC hold approx. 23-24% of the total Bitcoin supply. Not counting BCC

But the rumours are looking false so no worry

Thanks! Thats a pretty huge number, are really that many bitcoins sitting in (chinese) exchanges? I thought the advice everywhere was to hold outside/in paperwallets for security.

Bitfinex I see listed as Hong Kong, I am not sure if the rumours of a ban would even apply here.

I saw different figures

Namely, that Bitfinex alone accounted for around 20-25% of all bitcoins traded currently (not to be confused with the number of bitcoins mined so far). Regarding its location, it seems that Bitfinex is no longer based in Hong Kong, so the Chinese regulators and their orders are pretty much irrelevant for this exchange. Anyway, when the PBoC limited Bitcoin withdrawals as well as deposits form Chinese exchanges earlier this year, a few Hong Kong based exchange followed these orders. Bitfinex was not one of them

btccash24

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About 30%, according to coinmarketcap trading value.

william8829

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I started to trade on two Asian exchanges this year, Bitfinex and Binance. As an American Bitfinex no longer wants my business. Now Binance and the rest of the Chinese exchanges are in danger of being closed due to recent Government rulings. I cannot confirm if the exchange ban is true or false. I have contacted Binance but have yet to receive an answer.

I CAN confirm my willingness to use Asian exchanges are very low.

Phillionex Project

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I think the chinese exchanges have a lot of bitcoin on their exchanges that's why they can manipulate with FUD news....like they did this week

CryptoBry

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It would be hard to have the correct data on this but the volume of trading can be estimates d since exchanges are reporting those numbers. I have seen some figures and they are putting the volume in China next to the one we have in Japan...estimated to be between 20-30% of the total volume of all Bitcoin trading on a regular basis. Of course, these Bitcoins are the ones traded...we are not including those being HODL by the people.

dothebeats

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3 major exchanges from China: Huobi, OKCoin and BTCChina held 1,581,789 btc in trading volume for the last 30 days, but that doesn't mean that it's all they got. Unfortunately, we don't have a clear estimate on how much do they really have in their safe. 10-15% could be a nice guess.

pathapoddo

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CRYPTOCITIZEN $CCASH

I just know that 30%-50% bitcoin is in side of Chinese exchanger. And It is not gooood for us.

DoublerHunter

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We can't really tell if how many bitcoin are on the chinese exchanges but the sure thing is, it is a lot. Chinese people or the country of china is one of the biggest country that got a lot of bitcoins in their wallet and if we will estimate it then we can say that about 50-70% of bitcoin are on the side of chinese and that is why they can manipulate the market by its supply.

xdev

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Quote from: anon4250158 on September 08, 2017, 06:06:20 PM

Quote from: xdev on September 08, 2017, 05:34:43 PM

The four major ones, Bitfinex, OKcoin, Huobi and BTCC hold approx. 23-24% of the total Bitcoin supply. Not counting BCC

But the rumours are looking false so no worry

Where did you find that statistic? I'm genuinely curious, because I would think that they wouldn't announce that themselves, and it's hard to calculate actual holdings based on volume. It's even harder to really track bitcoins across addresses on the blockchain.

The numbers are loosely gathered from coinmarketcap.com based on Bitcoin and under the tab "Market" you have the Exchanges and their volume (trading volume?). Again, loose numbers, but around 20% for Chinese exchanges isn't far off I believe, China is a big player in the cryptoscene

Topic: How many bitcoin are on chinese exchanges? (Read 1054 times)