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Title: Volume on Chinese exchanges Post by: Timeline on October 30, 2015, 03:06:57 PM Does anybody now why Coinmarketcap excludes the trading volume of Chinese exchanges? There seems to huge volume on there and price is always higher than on other exchanges.
Title: Re: Volume on Chinese exchanges Post by: Cryptodevises on October 30, 2015, 04:47:59 PM Its' because there are no trading fees on those specific exchanges.
Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. Title: Re: Volume on Chinese exchanges Post by: mexxer-2 on October 30, 2015, 04:56:52 PM We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume.
Title: Re: Volume on Chinese exchanges Post by: Tstar on October 30, 2015, 05:02:33 PM Its' because there are no trading fees on those specific exchanges. Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume. Ok, so that is why we have so much volume on those exchanges. This explains a lot. Really good to know. Title: Re: Volume on Chinese exchanges Post by: XinXan on October 30, 2015, 05:48:13 PM Who cares anyways, almost all the exchanges have different prices and even if the ones that are excluded have even higher prices it still does not really matter.
Title: Re: Volume on Chinese exchanges Post by: Mickeyb on October 30, 2015, 07:00:47 PM Its' because there are no trading fees on those specific exchanges. Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume. Ok, so that is why we have so much volume on those exchanges. This explains a lot. Really good to know. Yes, that's why. I mean in any given moment pretty much, Chinese exchanges will account for about 80% of total daily Bitcoin trade volume. I mean this is huge. Even though the China is a big market this can't be right when you think about it more clearly. Where is the rest of the world and another 6 billion people? That's why many people just don't care about numbers coming from Chinese exchanges, since they are rigging their numbers pretty much all the time. Title: Re: Volume on Chinese exchanges Post by: PolarPoint on October 30, 2015, 07:23:21 PM This article is dated. It still explains how and why chinese exchanges fake trading volume:
http://www.coindesk.com/reality-chinese-trading-volumes/ Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats. Title: Re: Volume on Chinese exchanges Post by: Amph on October 31, 2015, 07:13:26 AM Its' because there are no trading fees on those specific exchanges. Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. on top of this i want to add that the volume is kinda fake, there is mnipulation for the volume there, not reliable Title: Re: Volume on Chinese exchanges Post by: 1Referee on October 31, 2015, 08:44:44 AM This article is dated. It still explains how and why chinese exchanges fake trading volume: http://www.coindesk.com/reality-chinese-trading-volumes/ Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats. I will never be attracted by exchanges that are clearly increasing their actual volumes by x10. That for me is reason enough not to join them, even if they offer you no trading fees. Any trader with common sense can see that. Title: Re: Volume on Chinese exchanges Post by: Tstar on October 31, 2015, 11:59:01 AM This article is dated. It still explains how and why chinese exchanges fake trading volume: http://www.coindesk.com/reality-chinese-trading-volumes/ Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats. That's a very good read: I missed it at the time. Quote Fakery? China-based bitcoin exchanges have been accused by users of manipulating trading volumes before, with some claiming to shift over 30,000 BTC in December amidst bitcoin's price plunge, and users claimed the actual number might be a tenth of that. Some have suggested the high volumes are due to high-frequency trading (HFT) bots, and one said the exchange is able to split large orders into small ones. Other commenters have expressed either surprise or criticism at the exchanges' lack of transparency in general. Title: Re: Volume on Chinese exchanges Post by: Timeline on November 01, 2015, 01:58:08 PM Its' because there are no trading fees on those specific exchanges. Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. Ok thanks. This explains it then. Title: Re: Volume on Chinese exchanges Post by: bitrev on November 01, 2015, 03:20:00 PM Its' because there are no trading fees on those specific exchanges. Which means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. Sonds legit. Altough the volume is huge, it would be good to find some mechanism to include it in the fee + current price. 56 Huobi BTC/CNY $ 180,645,000 * $ 340.92 0.00 % Recently 57 OKCoin.cn BTC/CNY $ 170,565,000 * $ 340.74 0.00 % Recently 58 BTCChina BTC/CNY $ 17,403,400 * $ 340.55 0.00 % Recently 59 BTC100 BTC/CNY $ 13,526,600 * $ 341.85 0.00 % Recently 60 BtcTrade BTC/CNY $ 12,042,900 * $ 342.38 0.00 % Recently 61 itBit BTC/USD $ 4,619,110 * $ 315.32 0.00 % Recentl Title: Re: Volume on Chinese exchanges Post by: Eastwind on November 03, 2015, 02:03:33 PM The volume of bitcoin exchanges are many times more than exchanges in other countries. The main reason is that there is no fee there. You can trade the same bitcoin many times, without paying a fee.
So to compare the volume with other exchanges, you have to discount the volume in China by 95% or higher. Title: Re: Volume on Chinese exchanges Post by: extrobot on November 04, 2015, 06:35:21 AM Its' because there are no trading fees on those specific exchanges. i never knew thisWhich means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. i wonder if no fee exchange will become popular for btc/usd in the future Title: Re: Volume on Chinese exchanges Post by: Eastwind on November 04, 2015, 06:45:06 AM Its' because there are no trading fees on those specific exchanges. i never knew thisWhich means you can buy and sell to yourself at no cost. This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say. This is why such volumes are not taken into account. i wonder if no fee exchange will become popular for btc/usd in the future If the Chinese exchanges charge 0.01% fee, the trading cost will make the volume drop 90%. 0% trading fee makes a huge difference there. The market can be manipulated at little cost. |