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Title: Bitcoin to China Post by: howardb on March 04, 2014, 02:42:29 PM Does anyone have any insite as to why fiatleak.com show's nearly all bitcoins going to China at the moment? Last twelve hours or so 70,000 BTC to China only 800 USA and Zero UK????
Title: Re: Bitcoin to China Post by: drrussellshane on March 04, 2014, 02:55:53 PM Chinese are buying heavier than others?
or The site is wrong? Title: Re: Bitcoin to China Post by: Lauda on March 04, 2014, 05:15:26 PM Chinese are buying heavier than others? I'm starting to think that the site is wrong. Almost nothing is going to Europe, some to the USA. It's mostly China only. or The site is wrong? Title: Re: Bitcoin to China Post by: Meuh6879 on March 04, 2014, 05:28:26 PM heavy user (and buyer/seller) are EUROPE, RUSSIA and CHINA : https://blockchain.info/fr/nodes-globe?series=onlineNow
second place : australia and USA. http://media.tumblr.com/tumblr_left25CWUw1qf8yek.gif Title: Re: Bitcoin to China Post by: CryptoPanda on March 04, 2014, 06:30:06 PM http://bitcoinity.org/markets/list?currency=ALL&span=24h
71% of the trade volume is in China now if this data can be trusted some exchanges might be fixing their stats I suppose the site you posted, uses the same kind of data for their animations Title: Re: Bitcoin to China Post by: franky1 on March 04, 2014, 07:00:10 PM they cannot tell where coins are moving. the blockchain is only showing the closest node that RELAYED the transaction to a miner.
so lets say 98% of miners and supernodes were chinese based. it does not mean 98% of coins are going to recipients that phsically live in china and are buying chinese products or services Title: Re: Bitcoin to China Post by: howardb on March 04, 2014, 07:04:58 PM Lies, Damned Lies and BTC Statistics, even with a transparent blockchain, like Mt Gox if you don't interpret the data correctly, it's worthless.
I think fiatleak.com is broken. (Though I noticed Max Keiser mentioned the China flows on it also!). Title: Re: Bitcoin to China Post by: waxwing on March 04, 2014, 07:39:25 PM Do people still not really understand that fiatleak does not show net flow, only trades?
The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious? Title: Re: Bitcoin to China Post by: Lauda on March 04, 2014, 09:21:36 PM Do people still not really understand that fiatleak does not show net flow, only trades? While no trades happen in Europe for hours? The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious? Title: Re: Bitcoin to China Post by: CryptoPanda on March 05, 2014, 07:26:48 AM Do people still not really understand that fiatleak does not show net flow, only trades? The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious? good point and the fees there are much lower |
