The fake volume on the chinese exchanges.

longbob72

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Quote from: The Sceptical Chymist on April 15, 2016, 11:53:40 PM

Quote from: longbob72 on April 15, 2016, 05:50:50 PM

Quote from: The Sceptical Chymist on April 15, 2016, 05:40:15 PM

Which exchange(s) are we talking about here? I honestly don't know where most of the exchanges are based out of.

No offense to the Chinese, but I doubt anyone would do anything about cryptocurrency fraud in that country. With the counterfeit crapola being pumped out of there, I'm dead sure no one's interested in shitcoin dynamics on the exchanges.

huobi and okcoin.
https://bitcoinity.org/markets/list?currency=ALL
https://data.bitcoinity.org/markets/volume/30d?c=e&t=a

as you can see from the above links, both of those exchanges have more than 40% of the total volume of all exchanges.

Thank you sir. I've heard those two names on this forum before but I wouldn't even have been able to identify them as exchanges. Are those the only two in China? That would surprise me.

they're not the only exchanges in china. the other chinese exchanges also have high volumes. but are still normal considering the amount of bitcoin miners in china. those two are just unreal.

Amph

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it bring more investors, so it drive the price up a bit, but if everyone knows that the volume is fake, then it will probably do nothing to increase the possible value

pooya87

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it is possible that they are faking some stuff for more publicity, or even to pump the price up, or even possible they try to pull a mt gox.

but it is also the fact that Chinese are very interested about investing in bitcoin and they have always been very enthusiastically active in crypto markets, always with high volumes.

alisafidel58

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Quote from: vero on April 16, 2016, 12:05:08 AM

why every bitcoin prices have started to rise there will always be people who say that The fake volume on ___ exchange. Roll Eyes

We are dependent on chinese exchangers because most of the bitcoin that are now circulating are coming from chinese miners.

vero

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why every bitcoin prices have started to rise there will always be people who say that The fake volume on ___ exchange. Roll Eyes

chichidori

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If you follow the price of lisk on yobit then that`s what i call a fake price the pump is too much then it drop almost 100% when yobit run-out of lisk. and lisk is not launch yet its an IOU coin from yobit admin.

The Sceptical Chymist

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Quote from: longbob72 on April 15, 2016, 05:50:50 PM

Quote from: The Sceptical Chymist on April 15, 2016, 05:40:15 PM

Which exchange(s) are we talking about here? I honestly don't know where most of the exchanges are based out of.

No offense to the Chinese, but I doubt anyone would do anything about cryptocurrency fraud in that country. With the counterfeit crapola being pumped out of there, I'm dead sure no one's interested in shitcoin dynamics on the exchanges.

huobi and okcoin.
https://bitcoinity.org/markets/list?currency=ALL
https://data.bitcoinity.org/markets/volume/30d?c=e&t=a

as you can see from the above links, both of those exchanges have more than 40% of the total volume of all exchanges.

Thank you sir. I've heard those two names on this forum before but I wouldn't even have been able to identify them as exchanges. Are those the only two in China? That would surprise me.

unholycactus

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I always thought most people (myself included) ignored those exchanges for the most part.
Any exchange without fees cannot be taken seriously.

maokoto

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Yep greed is a big component, numbers make people more inclined to risk money, specially those counters that move real time (or fake realtime) they mesmerize people somehow.

longbob72

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Quote from: The Sceptical Chymist on April 15, 2016, 05:40:15 PM

Which exchange(s) are we talking about here? I honestly don't know where most of the exchanges are based out of.

No offense to the Chinese, but I doubt anyone would do anything about cryptocurrency fraud in that country. With the counterfeit crapola being pumped out of there, I'm dead sure no one's interested in shitcoin dynamics on the exchanges.

huobi and okcoin.
https://bitcoinity.org/markets/list?currency=ALL
https://data.bitcoinity.org/markets/volume/30d?c=e&t=a

as you can see from the above links, both of those exchanges have more than 40% of the total volume of all exchanges.

The Sceptical Chymist

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Which exchange(s) are we talking about here? I honestly don't know where most of the exchanges are based out of.

No offense to the Chinese, but I doubt anyone would do anything about cryptocurrency fraud in that country. With the counterfeit crapola being pumped out of there, I'm dead sure no one's interested in shitcoin dynamics on the exchanges.

InsideBjorn

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Quote from: gentlemand on April 15, 2016, 04:21:43 PM

Who's going to stop them? No one. And even when there are far more legit options, without leverage no one's interested. Greed will always win out.

Well although there is a lot of fake volume there is a lot of real volume too. My guess is that they eventually will add some fee and
the price and volume will be more realistic.

luciann

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Quote from: Slowturtleinc on April 15, 2016, 04:15:56 PM

As long as its moving in predictable patterns for them it is profitable. Fake volumes is something these exchanges should be getting smacked for but no one seems to be bothered by it that I have seen when this topic is brought up.

We shouldnt ignore that though..

I saw a week ago someone pointed out bitcoinwisdom show fake volumes at random spurts at a time.

But it could just be the person reading the chart wrong.. I dont know. Id link it here if I can find it again.

gentlemand

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Welt Am Draht

Who's going to stop them? No one. And even when there are far more legit options, without leverage no one's interested. Greed will always win out.

Slowturtleinc

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As long as its moving in predictable patterns for them it is profitable. Fake volumes is something these exchanges should be getting smacked for but no one seems to be bothered by it that I have seen when this topic is brought up.

spazzdla

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Driving the price up?

Keeping it down?

Topic: The fake volume on the chinese exchanges. (Read 664 times)