Bitcoin Forum

Just curious as to the sentiment in the bitcoin community

A lot of these exchanges suffer from fake trading by people trying to push up the price so it's hard to tell what's "real" or not.

The difference between Huobi and other sites is the fact that they are claiming 70% of all bitcoins traded daily

Hmmm, poser ain't it?

On the one hand it seems Mtgox volume has been on the low side lately, and on the other, we have the general sense that the Chinese government doesn't like the VOLATILITY of bitcoin and BTC China had a stated aim of reducing volatility, one step they took was higher fees. Now if all the Chinese BTC exchange owners are thinking like this, that they have to calm the volatility down so that BTC isn't completely banned outright, and they think that a period of stability will mean it's re-allowed or at least re-tolerated, then they might do things that seem shady to us to "calm" the market, including posting fake trades.

Am I wrong (still) thinking that Huobi has 0% trading fees?

If so, then yes. It's not really fair comparing zero fee trades to the percentages other exchanges take. If I'm not mistaken after regulation btcchina re-added trading fees it had earlier suspended.

I'm not talking about money coming or going, but fees for trading BTC already on the exchange.

BTCChina CEO Bobby Lee:
"If the prices rocket again, we risk that third hammer hitting, which won't be good for anyone in China. So that is why we want to moderate prices in bitcoin"

http://www.coindesk.com/btc-china-bitcoin-volume-bounces-back/ (http://www.coindesk.com/btc-china-bitcoin-volume-bounces-back/)

Huobi CEO Li Lin
[Coindesk except] 'At the January meet-up, Li told the audience that as long as he wasin charge of Huobi, there would never be a commission fee.'

OKCoin CEO Xu Mingxing
"If the exchange rate shoots up as crazily as in November, there is a good chance that we will spend this Spring Festival behind bars"

http://www.coindesk.com/chinas-bitcoin-exchanges-survived-the-crackdown-battle-aftermath/ (http://www.coindesk.com/chinas-bitcoin-exchanges-survived-the-crackdown-battle-aftermath/)


I also read one (that I can't find, currently) that said they trade large volumes offline in order to prevent price fluctuation.


All of these statements scare me....

Thanks for that undertow.

Sounds like they are in deep shit if some big holder figures they HAVE to buy up coin to stop price plummeting if he lets thousands of coins go at once...

But yup, not a good thing.

Thinking that with slight upward pressure they have to be burning fiat to buy high and sell low, strong upward pressure and they ain't gonna hold, which will be "interesting" it will be like a breakthrough again, price zooming up more crazily than if they let it be.

Seems like you post is mentioned here => http://www.coindesk.com/reality-chinese-trading-volumes/

I have been reading all over from the internet that its fake, bu who knows!

Yup, you are right. Trading at Huobi is still 0% fee.

Indeed it is not easy to tell if an exchange has faked the trade data. But, I am not really surprised if some of the exchanges are doing that.

How do they make money if there's zero fees? No wonder there was fake trading going on here if that is true.

There are fees for moving money in and out of the exchange. This has nothing to do with trade volume. Huobi makes theirs, don't you worry.

Real... Fake... Fair... Unfair... Just be rich ;)

Voted for fake, the volume looks strange to me.