Topic: Ok Coin , Huobi and other chin exchange..they are cheating all of us. (Read 4365 times)

very good point. 

BTCC developed 100 bitcoin nodes. But that is mainly to relay the blocks found its pool. So it is not as it seems.

it's something artificially. It's a fake market. You cannot keep a market alive in a such way. I am not talking about nodes but about fake transactions.
Be sure that BTC China has developed xx nodes NOT because he cares about you. They did it because they care about their business.

Thay are keeping bitcoin alive,without them will be no bitcoin already
One of them has developed 100 btc nodes
Only chinise see btc potenciality

because all the exchangers are using bots who are trading all the time.

You can transfer money to exchanges in Chinese directly a few months ago. But that has nothing to do with the volume. The volume is very high all the time.

is it not odd that in a country(China) where banks are banned(the Chinese gov did it) to deal with BTC exchangers or with persons who are trading Bitcoin, there is the biggest volume of transactions?

i don't know what are you saying true or not but seems chinese is the biggest country that use bitcoin in the world and bitcoin price in OKCoin or Huobi always be more higher than other exchange

All of them have fake volumes. the worst point is that the fake volumes are over 80% from their business.

BTCC has lower volume than Huobi and OKCoin, but it still has fake volumes. So OK and Huobi have a lot more.

of course, the exchangers are manipulating the market. it's impossible to have such volumes and it was proved that the volumes are fake. some of them admitted.
Without fake volumes, the whole market will be like a desert. not so many orders.

The customers are attracted by "volumes". They are thinking that X or Y exchanger is big because he is seeing many transactions(many clients) but most them are fake.


https://www.reddit.com/r/BitcoinMarkets/comments/3r2xr1/bobby_lee_from_btcc_confirms_fake_volume_on/

I think volume increasing trading robots are controlled by the exchanges themselves. Otherwise they will be banned.

i don't think that Ok coin, Huobi itself is cheating in the bitcoin price. but more likely users in their site is cheating the bitcoin price using allied. Huobi cannot legitimately control the price of bitcoin otherwise would probably seized by the chinese government.

indeed. what's strange is that nobody is taking action against this thing. it's a clear way of market manipulation but the whole BTC media is keeping the mouth shut.

The volume of the Chinese exchange compared to the number of bitcoins within the exchange is too high, it indicates volume rigging.

I think the world stock market was in trouble. It is not just the Chinese stock market. The first week is the worst for at least 10 years.

Chinese stock market is on crisis, many big speculator short on this market and in europe market and in usa market because all market is full of money and is normal moment: now comes worse...

The stuff happening on the Chinese markets may be pretty crazy but I've never read about anyone who couldn't withdraw from them when they wanted to. I guess there's manipulation going on but the coins going in and coming out look real enough.

I was under the impression that the majority of BTC goes through the Chinese and they are the largest percentage of holders.  Maybe it is possible that they have these kind of  numbers rather than it being rigged?  It seems whenever something goes on with China markets Bitcoin moves and moves quite a bit.  I was assuming this is natural.

Remember that the China gov has banned all the financial companies to deal with transactions related with BTC. So, all the banks from China are banned to deal with exchangers or persons who wants to buy/sell BTC.

Is it not odd that China has the biggest volume? Also, is it not odd that OKCoin is the bigger exchanger when it's was proved(search on internet "Okcoin fake transactions") that OKCoin has fake transactions?
Of course, all the big exchangers have fake transactions. There is no doubt.

There will be no Bitcoin without these fake transactions. The people will not use an exchangers who has 100 transactions per day. It's a fact that too. They want to see millions transactions even they are fake.

There will be no new "investors" to put money in this game if an exchanger won't show them "hey, we have millions of transactions, look!". Anyway, these investors won't see any money back. It's an illusion.
Look to Coinbase. Do you think that this company survives with the fees they get from each transaction?

They have tens of people hired as staff all over USA; I think you can calculate how much is a decent salary in USA + taxes and so on. Remember,  that a good IT guy doesn't earn 3000 usd but much more.

Then it's coming the compliance dept(a lot of costs here too), rents for all the offices from USA where they have financial license, then lawyers (you cannot run a financial company with them), money for lobby, advertising, etc (many, many expenses).... They cannot cover them from what the company earns.

Also, the financial license costs A LOT(millions) per year. Coinbase survives because they find investors to pump up with money.Otherwise, they would be bankrupted.