Topic: US freaks out on MT. Gox meanwhile China hoards all the coins.... - page 2. (Read 4511 times)
February 25, 2014, 05:19:19 AM
is it possible someone else is buying through china? why chinese buy so much suddenly?
February 25, 2014, 04:57:52 AM
Well since US is mostly sleeping I am not surprised at all at that. We will see during daytime in US how it will be.
February 25, 2014, 04:48:37 AM
I am incorrect,
as the website says;
"Each trade results in a Bitcoin being sent from the currency counter in red to the country on the map. The value in BTC is listed in green and plotted across the map. The last exchange rate for each currency is listed in @purple and updated for each trade."
so it is based on trades...
as the website says;
"Each trade results in a Bitcoin being sent from the currency counter in red to the country on the map. The value in BTC is listed in green and plotted across the map. The last exchange rate for each currency is listed in @purple and updated for each trade."
so it is based on trades...
February 25, 2014, 04:45:29 AM
Where do these sites publicly post how much money they have had deposited daily?
February 25, 2014, 04:42:25 AM
it's complete bullshit.
Just seen 30 btc go on bitstamp in a few seconds, nowhere on that chart.
60 going right now at $460
Also Reddit reports fiatleak showing china with 35x the US trade volume too http://www.reddit.com/r/BitcoinMarkets/comments/1ugn89/why_is_millions_going_in_to_bitcoin_from_china/
That's from Jan 5th
I think Fiatleak is fiatbroken
Just seen 30 btc go on bitstamp in a few seconds, nowhere on that chart.
60 going right now at $460
Also Reddit reports fiatleak showing china with 35x the US trade volume too http://www.reddit.com/r/BitcoinMarkets/comments/1ugn89/why_is_millions_going_in_to_bitcoin_from_china/
That's from Jan 5th
I think Fiatleak is fiatbroken
I think people are confused here...
the name fiat leak implies this calculates when fiat is moved into an exchange... of couse there will be fiat coming out of these exchanges too...
There can be all sorts of trading within the exchanges but this calculation is simply fiat money going to a BTC exchange...
It does not indicate the actual trades of BTC as these can be done with other crypto and so fourth. The fiat tht is deposited to an exchange is calculated in the latest price of BTC and that is the figures we see on this site...
the volume on other exchanges that is not indicated here was proably already deposited in the past...
please correct me if I am wrong?
February 25, 2014, 04:32:19 AM
it's complete bullshit.
Just seen 30 btc go on bitstamp in a few seconds, nowhere on that chart.
60 going right now at $460
Also Reddit reports fiatleak showing china with 35x the US trade volume too http://www.reddit.com/r/BitcoinMarkets/comments/1ugn89/why_is_millions_going_in_to_bitcoin_from_china/
That's from Jan 5th
I think Fiatleak is fiatbroken
Just seen 30 btc go on bitstamp in a few seconds, nowhere on that chart.
60 going right now at $460
Also Reddit reports fiatleak showing china with 35x the US trade volume too http://www.reddit.com/r/BitcoinMarkets/comments/1ugn89/why_is_millions_going_in_to_bitcoin_from_china/
That's from Jan 5th
I think Fiatleak is fiatbroken
February 25, 2014, 04:26:19 AM
The last time we had these kind of buying frenzy in China...
'Nuff said.
'Nuff said.
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
February 25, 2014, 04:25:55 AM
Looks like Chinese are in full throttle shopping.
Well lets keep this a forum secret and let the market have its fun ha-ha
There's nothing like some cheap coins XD
(I think I can say I am thinking Chinese now
) 
February 25, 2014, 04:25:21 AM
How can anybody see to which country BTC are being sold? This makes no sense. At the most, they can trace the activity on various exchanges, you might as well argue that this is panic SELLING on the chinese exchanges. Every time 1 BTC is bought, 1 BTC is sold (except for 25 BTC every 10 min, of course).
I agree, don't really understand how they calculate or guess to which country and from which country those bitcoins are moving. Even if they monitor exchanges, on each one there is a seller for each buyer and viceversa.. how do they know where they are from
February 25, 2014, 04:23:16 AM
Looks like Chinese are in full throttle shopping.
February 25, 2014, 04:21:46 AM
Funny thing is that its supposed to be tightly regulated so this is even stronger than usual
http://bitlegal.net/nation/CN.php
Yeah lol, but at the same time they have major services that accept BTC, but I believe what's banned is banks trading directly with exchange, but there can be always a middle man to solve the situation, or doing it in cash, someone trading in the chinese market can explain to us ^^ of course I'm not talking about people that already have btc/fiat and exchanges and are using that
China seems to be hoarding everything but FIAT I believe it has also purchased a lot of gold lately.. They seem to have an opinion about FIAT currencies and how thing will play out in the future.
I believe it has also purchased a lot of gold lately.. They seem to have an opinion about FIAT currencies and how thing will play out in the future.They have more than enough USD, and US Bonds, and I think they understood, that it's not a good investisment as the FED is just printing cash and at somepoint the deflation will hit hard! and yes they brought thousands of tons of gold, while at the same time they are the biggest gold producer
February 25, 2014, 04:21:41 AM
China seems to be hoarding everything but FIAT I believe it has also purchased a lot of gold lately.. They seem to have an opinion about FIAT currencies and how thing will play out in the future.
I believe it has also purchased a lot of gold lately.. They seem to have an opinion about FIAT currencies and how thing will play out in the future. February 25, 2014, 04:20:34 AM
Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.
In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol
There was a significant fee reduction on BTC China, good move by their management to keep trading going, the market liquid, so we are less likely to see huge price swings as GOX mess unwinds...
http://www.coindesk.com/btc-china-lowers-trading-fees-01/
February 25, 2014, 04:20:03 AM
How can anybody see to which country BTC are being sold? This makes no sense. At the most, they can trace the activity on various exchanges, you might as well argue that this is panic SELLING on the chinese exchanges. Every time 1 BTC is bought, 1 BTC is sold (except for 25 BTC every 10 min, of course).
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
February 25, 2014, 04:18:36 AM
That map doesn't show anything happening on bitstamp whilst they report volume in excess of 100k and you can watch their live order book, dozens of trades of 10+ bitcoins happening as we speak.
Data from MT.GOX, BITSTAMP, BTCChina, BTC-E, Bit2c, Mercado Bitcoin BR, Local Bitcoins, OKCoin, BTCTrade, Huobi China, bitx.co.za, Cavirtex
Bitstamp is on the list so that is strange
February 25, 2014, 04:16:12 AM
That map doesn't show anything happening on bitstamp whilst they report volume in excess of 100k and you can watch their live order book, dozens of trades of 10+ bitcoins happening as we speak.
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
February 25, 2014, 04:13:37 AM
Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.
In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol
Funny thing is that its supposed to be tightly regulated so this is even stronger than usual
http://bitlegal.net/nation/CN.php
How could that be possible? There are many other exchanges that operate..
China has the largest exchange by volume its greater than Mtgox which is why it can be a vacuum cleaner
February 25, 2014, 04:13:29 AM
How could that be possible? There are many other exchanges that operate..
February 25, 2014, 04:10:01 AM
Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.
In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
February 25, 2014, 04:08:37 AM
So I just read a tweet from max keiser;
"Chinese buying 500 BTC/minute: http://fiatleak.com/ "
https://twitter.com/maxkeiser/statuses/438222566764056576
I looked at fiat leak and in the last 10 minutes 3300 BTC flew into china while only 22 into the united states...
http://fiatleak.com/
I wonder what sort of affect this might have with china's Bullrush while the rest of the world look like bears in hybernation cowering in the cold?
thoughts?
"Chinese buying 500 BTC/minute: http://fiatleak.com/ "
https://twitter.com/maxkeiser/statuses/438222566764056576
I looked at fiat leak and in the last 10 minutes 3300 BTC flew into china while only 22 into the united states...
http://fiatleak.com/
I wonder what sort of affect this might have with china's Bullrush while the rest of the world look like bears in hybernation cowering in the cold?
thoughts?
I'm watching this vacumn and thinking Oh boy this is going to be a long night
Jump to: