Topic: Hypothesis: BTCChina is completely fake (with evidence) - page 4. (Read 9806 times)

Maybe because, they don't care enough to provide data to a site that their customers never used?

With no fees, the algorithms used in bots will tend towards smooth curves.

You are underestimating the power of randomness.

Recommended reading: http://www.amazon.com/Fooled-Randomness-Hidden-Chance-Markets/dp/0812975219

is this a serious question? wow.....

Stop spreading your FUD everywhere. There might be some powerful speculators there, but accusing the CEO of market manipulation is really stupid.

btcchina will probably keep their place as the biggest exchange for a while, they also got 5 million usd in funding recently.

Why aren't they on bitcoincharts?

Also, there is not just BTCChina in China, there are several sites with similar volume.

and they rely on third party site to make their theories.

I was able to connect to btcchina the whole time.

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.

bears will stop at nothing these days

When you post a picture of the 1 minute chart, yeah things might look a little off.

Also the rally/slight dip pattern you're seeing is normal... called a bear trap. On the way down it's a bull trap.

Chinese always used things in other ways than intended. See gunpowder for example, they were using it for fireworks until the rest of the world started to use it for guns. LOL   

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 ==