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Title: OKCoin's Bots Are Off To The Races Post by: rampage101 on November 07, 2014, 10:44:16 PM What is accounting for the enormous volume on OKCoin?
They offer algorithmic trading with pretty sophisticated options, but there is no built in botting option. A lot of people say the Litecoin has so much volume there because there are no trading fees at OKCoin. However, OKCoin's site itself says there are fees. Who is making all the bots if not OKCoin themselves? Is it possible they are trapping market orders with unfair practices and then re-selling or re-buying the coins? http://bitcoinpricelive.com/okcoins-bots-races/ Title: Re: OKCoin's Bots Are Off To The Races Post by: btcash on November 07, 2014, 10:52:34 PM It has been suspected many times that OkCoin manipulates the trading data. Never proven, which is very hard.
The Chinese version has sadly 0% trading fees: https://www.okcoin.cn/about/vip.do Title: Re: OKCoin's Bots Are Off To The Races Post by: rampage101 on November 07, 2014, 11:05:07 PM Yea, there is another interesting fact, that OKCoin says they have done a Bitcoin audit before.
But when you go to the section for Litecoin, no Litecoin audit has ever been done. Title: Re: OKCoin's Bots Are Off To The Races Post by: Gleb Gamow on November 07, 2014, 11:18:05 PM Yea, there is another interesting fact, that OKCoin says they have done a Bitcoin audit before. But when you go to the section for Litecoin, no Litecoin audit has ever been done. Both audits were done at the same time, so stop spreading FUD about something you clearly don't understand. /s Title: Re: OKCoin's Bots Are Off To The Races Post by: rampage101 on November 07, 2014, 11:20:45 PM Yea, there is another interesting fact, that OKCoin says they have done a Bitcoin audit before. But when you go to the section for Litecoin, no Litecoin audit has ever been done. Both audits were done at the same time, so stop spreading FUD about something you clearly don't understand. /s When was a Litecoin audit done? The only mention is of a Bitcoin audit. This article does not even mention Litecoin once: http://www.coindesk.com/okcoin-reveals-btc-reserves-104-chinas-exchanges-undergo-audits/ Plus it is not the first time OKCoin is accused of faking data: http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/ How do you explain OKCoin coming out of nowhere to have the highest trading volumes? Last year BTC China had all the volume, and nobody had heard of OKCoin. Title: Re: OKCoin's Bots Are Off To The Races Post by: p2pbucks on November 07, 2014, 11:25:04 PM Yea, there is another interesting fact, that OKCoin says they have done a Bitcoin audit before. But when you go to the section for Litecoin, no Litecoin audit has ever been done. Both audits were done at the same time, so stop spreading FUD about something you clearly don't understand. /s Litcoin audit has Not done yet . Bitcoin audit still stuck on 2014-8-22 11:30:27 . Title: Re: OKCoin's Bots Are Off To The Races Post by: Gleb Gamow on November 07, 2014, 11:26:52 PM Yea, there is another interesting fact, that OKCoin says they have done a Bitcoin audit before. But when you go to the section for Litecoin, no Litecoin audit has ever been done. Both audits were done at the same time, so stop spreading FUD about something you clearly don't understand. /s Litcoin audit has Not done yet . Bitcoin audit still stuck on 2014-8-22 11:30:27 . So much for using the /s = sarcasm tag I've been instructed to use a myriad times. :-* To be clear, I echo the sentiment that I first replied to. |