Topic: Hypothesis: BTCChina is completely fake (with evidence) - page 2. (Read 9801 times)

What??  The Chinese are capable of lying, cheating and/or stealing?

Anyone who has dealt with the Chinese, knows.

Thank you, Boxman90, for reminding us who we are dealing with....

WAIT a minute... 

Where are these volume #s coming from? Seems insanely high for some unknown exchanges. Is it because they have zero fees?

Chinese exchanges still going strong.. some exchanges still trading above $800. The rest of the world is refusing to believe bitcoin is worth so much... meanwhile potential massive chance to make money for those who are willing to sell coins on those sites. Is it the Chinese who didn't get the memo, or is it us? We will see soon enough.

http://btckan.com/price

The point I wanted to make is that stock exchanges never make perfect semicircles. If you watch the same periods at BTC-e and Bitstamp for example, the pattern is way more frizzly, more noisy. This one is just perfectly orchestrated. Now i know Chinese have a-diciprine and all, but this just does not look human/organic.

I don't know why everyone is defending BTCChina when they are new, and no one knows much about them...

More and more am I starting to believe that BTCChina is (for a large part) fake.

- Their volume reports are ridiculous. On the 3 minute chart they have almost exclusively 300 btc per candlestick.
- The whole rise-up at BTC-China seems orchestrated. Every sharp rise is nicely crafted into a short dip which then recovers in order to make others believe that it's safe to buy

More and more am I starting to believe that BTCChina is (for a large part) fake.

- Their volume reports are ridiculous. On the 3 minute chart they have almost exclusively 300 btc per candlestick.
- The whole rise-up at BTC-China seems orchestrated. Every sharp rise is nicely crafted into a short dip which then recovers in order to make others believe that it's safe to buy

And most compellingly

- During the crash the volume stays _THE SAME_ throughout. There is a sharp drop, but no panic selling at all! The volume is constant. This does not make any sense to me.
- Notice how every downward candle towards is also attempted to be caugt immediately - many many intermittent recoveries during a crash. It just doesn't make sense.
- I think we all agree that the price movements at BTCChina have been absolutely ridiculous.

It's almost as if the whole exchange is scripted to make fake orders to amplify any movements seen on Gox. Zero trading fees would allow this.

What would they benefit from this?

Manipulation. This whole rally is based upon "China is going crazy, we must buy asap!". Knowing that the bitcoin world classifies exchanges by price and volume, you can manipulate the entire market by gaining the highest price and the highest volume. This does not mean the trades have to be legitimate as well, as long as the data you're outputting is somewhat believable. The rally on china seemed so ridiculous, that I'd be inclined to think that BTCChina's CEO has some big money at the other exchanges, trading it for high prices as he indirectly has control over the market.


Added facts:

- Nobody seems to be able to access btcchina.com, yet trades are still being executed (do reply if you can reach and deposit BTC)
- During the 7-8 hour Gox trading engine lag, BTCChina ground to a halt as well while BTC-e and Bitstamp continued to have organic trades (though lower average volume).
- Look at this recent crash graph from BTCChina (linked from another topic). It does not look organic, yet highly artificial.





Please discuss Also, === I'm merely speculating ==

one thing I have observed is the Chinese buyer seems to refuse to sell property for less than they purchased it regardless.

I think this may translate into BTC.

I cannot reach btcchina, I keep getting the ddos service message.

Anyone else having this problem? I am becoming concerned, since I have funds there.

That's garbage, that'd imply their stock markets would only go up, never down.