Topic: Randomness from a chinese. (Read 4738 times)

It's a forum, not a chatroom. Objecting to the time required to read a multiparagraph post is textbook anti-intellectualism. While I may have lacked calmness, indeed, I cannot silently abide unveiled racism and xenophobic mockery. If you find nothing at all of merit in my posts, you may ignore them, though I prefer the lesser extreme where there is *some* discussion, as we are having right now. (I use ignore purely for outright trolls.)


You may be right:


I'll deliver a mild jab at your grammar and syntax, because you seem to be a primary speaker of English and therefore lack an excuse other than a disdain for precision in communication, which says something. It is somewhat taxing to follow, spaces before commas etc.

But more importantly, what sort of "profs" have you that it isn't? I've seen no indication that somehow mining is being manipulated, and I'm not sure how it could be. Exchange volume, when done as off-chain transactions, is largely opaque.

I defended OP despite not being the one quoted because the thread had devolved into widespread attack on several strawmen cherry-picked from his post and exploited for language barrier issues. It is a shame I was incited to need to do so at all. I don't expect everyone to understand why I did; if they understood, I would not have had to do it.


I still cannot help but interpret this as a flawed understanding of the relationship between exchange volume and mining activity. I have no intention to demonstrate mining activity with exchange volume figures, because that doesn't make sense.

As it's been many hours and I have the warm-fuzzy of PMs from OP and other participants voicing appreciation for my defense of polite intercultural relations in Bitcoinland (as well as the warm-fuzzy of some fantastic eggnog) I'm feeling far less testy at present. So help me understand.

这帖子居然能盖这么多楼。其实你们在做的是无意义的讨论。

Interesting thread, although a bit hard to follow.

OP, it's true, it's indeed best to hear it straight from the "horses mouth". Which is why I started a thread in the Chinese section (in English) a couple of weeks ago, but unfortunately not many people seemed to understand me there (writing English).

My question: Can you give us your conclusion? Is what you are saying bullish or bearish for BTC and where do you see it going?

Uhhhh... ok there robert downy jr.   calm down

stop patronizing everybody and being so fucking arrogant.. you probably spend 2 hours writing out your long winded posts only to have maybe one reader who even has the patience to read through all your condescending nonsensical garbage..

go away, seriously.. arrogant douchebag

I agree it can be frustrating with people outside of your home country committing on things related to your country. especially if they get something wrong. that's normal though. people from all over the world talk about people from all over the world.

i'm a 老外  living in china and it's not like people in china talk any less about countries they've never been to or know little about any more than other countries do.

bitcoin is a global thing so it's normal that the global community is going to discuss issues from all over the world even if they aren't from that part of the world. 

No my dear idiot , I doubt anyone can do business with somebody with your temper.

Can you come with profs that 75% of the mining activity is in China?
That's the word the op used , that's the word I don't like next to that value.
Volume , length, value diameter .
But , I don't expect you to come up with this since I wasn't quoting you on that.

Also , you fail to notice than when people say "and about " , they refer to another part of the discussion.
And I referred here to the faked , and proven faked volume of Chinese exchangers.

So , my conclusion , China matters as much as Bulgaria in the bitcoin system.
Come with numbers to contradict me.
And not with the reported volume of 22k BTC of an exchanger that only has 1000BTC on the order book.

Actually, Fenix, I believe you may be giving stompix too much credit. He could actually believe that China is somehow manipulating the network to reflect that they are solving 75% of all blocks.

This is a great thread. Maybe localizing a bit will help mellow down the critics. Like saying that this is based in my hometown and say "I do not represent all of China".

It's good to know more people are helping Asians in terms of connecting and helping them elaborate.

Jesus Christ, is it really possible that myself and apparently BitBurger are the only ones in this entire thread who can understand "imperfect English as synthesized by a primary speaker of Chinese"?

Translated overview of what OP said for the rest of you dunces:
And with a little color commentary.

The bubble didn't have to pop when it did and wasn't China's fault alone. [/b]
True. Western misinterpretation of Chinese news was, and then of course even Chinese investors reacted to the downturn.

There weren't that many Chinese investors anyway.
Not as many as the volume stated, for sure. Lots of traders in BTCChina etc. were foreigners attracted by their 0% trade fees, myself included. BTW, the high volume Chinese exchanges, i.e. Huobi etc, are also attracting foreigners the same way, along with the simplicity of exiting via Paypal etc. All these methods of attracting users exploit ways of lowering market friction. And yes, BTCChina is pretty much the only major exchange still located in China. The rest are skating on thin ice legally or aren't actually in mainland China.

So, don't lose faith in China. 75% of the mining is still here, and tons of interest in the ASICs, especially since they're made here anyway. And there's plenty of interest in cryptos as a whole. Bobby Lee, CEO of BTCChina, the biggest "legit" exchange, is the brother of Charlie Lee, ex-Googler who wrote Litecoin before going to work at Coinbase. OP didn't mention Coinbase or their names specifically. Or Google. He did mention the heavy interest in NXT as an example of their love for crypto, which everyone ran with as evidence for shilling, 'cuz haters love to hate, and thinking's a lot harder than talking.

Dear god. You snipped 1 sentence and still fucked it up. Mining volume, you fucking idiot. I am now policing this thread just to assemble a list of users with which I vow never to do business. Trading with idiots always costs more than you expect in the end, either in time or some other fuckup.

The point is everybody here think my topic owns a one-only real purpose, but it's really not like this.
For example I never said that BTC C was a good website, I just said, to whom still doesn't realise let's forget about that exchange because it was so big that now it's under the supervision of the government.

I liked your reply because it's straight to the point, and yes I forgot to say that huobi now increase its transactions a lot. BUT all the other exchanges are not real companies, for example the biggest one you listed is a normal 1985 guy living in 金山区 (Jinshan) which is really not far from me, he is just a normal guy buying and selling ASIC on taobao like many others.

Why I tell you this? To let you do something? To think that my opinion is the only one? Absolutely not. I'm just showing you my point of view.
I know that seems to be unbelievable that all this big trend about China in fact is just some random normal people doing it because many others did it before.

I don't understand the second part of your post anyway, the one about "Worlds Highest Traded Volume".

I REPEAT FOR THE LAST TIME: This is a no special purpose topic, it's just a little point of view probably just of the people around me. And to me I'm just a normal man trading and mining both activity living a happy life.

Thanks everybody involved in the discussion.

Mtgox used to be one of the only exchanges for Bitcoin back in the day and that problem was fixed.

Check their order book.
They have 500 coins on the +/- 50% range and they are making 20000 BTC trade per day?

I stopped reading at :


Oh really!
And about the exchange volume , it has been already discussed and proven how it was manipulated.

+1
There are 7 Exchanges , BTCChina was and now Huobi is, everyone have chance and everyone have different strategy and planning for there Business to grow. Before MtGox was in tot now Huobi is trying to come on top. China is still trading good OP please wash your mind and clean your eyes and look,
As i posted in my last post you cant speak for all Chinese People this is prove that different you and other chinese, You think BTCChina is only exchange in China and in the same place which you told house hold and family business type is now going to be Worlds Highest Traded Volume.

btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC


ADD  this two
MTGOX        9,597 BTC
BITSTMAP   8,654 BTC


So you will find 80% BTC trading is still in China

Their are 7 exchanges that more than 2000 BTC volumn per day in China.

the volums of these 7 exchanges in the past 24 hours:
btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC

btcchina.com is the largest one in the past, but not now.

And Btcchina is the worst exchange i have ever used, they don't reply your emails, nobody pickup the phone calls, and you have to wait at least two days to withdraw your CNY ; but with other exchanges , you can usually get your money within one day even within a few minutes.

The truth is the OP is full of bullshit , i feel ashamed that you said you are Chinese and you are telling the truth in the subject.

Hello Chinese Guy
You have a good post but something you post without some analysis
You are 1 guys and may you have 100 friends and those hundred friends of friends some you may know them, but dont forget China contains 1.35 B people and Every people have different thinking and different planning. You told if one Chinese start then everyone will do the same if that happened then Bitcoin price could reach 50K and been down to 200$ again please note that.
Next point you told only miners are trading you mean Miners are selling there Bitcoins and No one is buying? How is this possible one is selling and no one is buying? Another thing if you actually noticed Bitcoin price it depends on Volume when Volume goes up price goes up so to pull price of course buyer volume must go up so if every miners are selling coins and no buyers is going to invest then of course selling volume must blast and price must goes down but look at the price its tightlt stabled in 5-7 hundred what is the meaning that now there is no any option to crash the price of Bitcoin less then 500$.

Thank you for some information, something are helpfull but most are not and please dont try to lead 1.35 B people let me tell you my own experience while i was in Macao i hace a lot of friends who even dont know the next places of there own country how much we foreigner know, they dont know what is happening in other states so analyse something.
Good Luck

continuing my last reply's train of thought...

More depressingly, this also probably means that the general population of the US is still even more brainwashed into blind distrust of Asians (they tend to get lumped into one group and called Chinese) than I thought, at the end of 2013. I've seen a lot of progress on the other side (Chinese attitude toward the US, and also Japan and S. Korea since there's some pretty big historical tension there), from my interactions, just in the last few years.

Depends on the person and who they trust I guess... if you trust the government, one side thinks we need ever-more-military because if we shrink it, Chinese are just waiting for the chance to parachute in and take over. The other side thinks we need the equivalent of internet military, and that the government should be in charge of everything including water and gasoline etc, because the Chinese are just waiting for the chance to hack and disable our electrical grid (and I guess presumably also parachute in and take over).


Differences in cultural norms, and inability to reason one as a probable cause, is one thing (the last quote above, for example, where empoweoqwj's unawareness of QQ and social norms is used as logical evidence you are untrustworthy). But as for the rest... Kinda surprised to see this much directed xenophobia on a Bitcoin forum.

Not only is it ironic given the intent of Bitcoin (destroy the biggest remaining barrier to intercultural and international relationships), but we owe the newly-clarified legal status of Bitcoin in the US to exactly 1 part Winklevoss-backed remedial education to key Senators and players pre-hearing; and 1 part national security interests (with the October announcement by China's Finance Ministry about ending bond purchasing and Chinese interest in Bitcoin, it very well looked to the Senate like we might be getting left behind as the economy went more digital).

chinese the best !!

He clearly stated that it was his point of view! Why would you accuse him of claiming to represent all of China? You're ridiculous!