Bitcoin Forum

Great article on the type of manipulation going on at various Chinese exchanges by the exchanges themselves and some of the volatility and problems they've caused.  One of the better reads I've read in awhile.

Thoughts??

http://www.coindesk.com/reality-chinese-trading-volumes/

I've been noticing very strange buy and sell walls over at Houbi for some time now. This wouldn't surprise me if it were true.

Wouldn't surprise me if most exchanges were at this.

I would be surprised if some exchange wasn't like this.

Like they say bitcoin had a lot positive press, yet the price went down. Correct me if I'm wrong but BTCChina, who now blows the whistle, had no fees and was responsible for the December's price pump.

Everyone had no fees (in china) , and in their defense BTCChina reacted to the governments response in a way to try to ease wories, reduce volatility(that the government did not seem to like),  and alter deposit/withdrawal options to try to stay in compliance.   While other exchanges said 'fuck it' and kept doing the same ol same ol.

I dont take sides since I have no real involvement in any of these companies except from various bitcoin exchanges I conduct, but in terms of trying to be in compliance and legitmate as possible I think BTCchina is leading the way.  Maybe this sounds a bit "racist" but I do feel like bobby lee having grown up in America plays a factor in that. I've done a lot of business in China and some of the morals and ethics between countries is pretty obvious (not to say that there arent corrupt buiness people in america as well, there certianly are).

everyone knows all chinese lie, cheat and steal.

I do business in china and it is basic sense there is no law or moral in that country.

I am not surprised at all.  ;)

There are many that believe BTCChina was also participating in data manipulation and/or automated bots. I guess it would take one to know one  :P

What the hell are you talking about? This is complete moronic racist rubbish.

its so obvious

A bit harsh - also, if I show you a chinese that has moral and acts ethical, will you take it back?

Dipshit, why is that some of the most trusted users on here are Chinese then?

wouldnt be surprised if regulators get involved in this kind of activity alot of price talk going on

Fuck that. It's the truth and those who carelessly offer trust are fools. Chinese have little qualm about that type of shit.

Ignore the usual PC bitchfest.

This is correct, at least by other nation's standards. I include nations such as Russia (where crime is rampant and businesses need to pay 'protection' usually), India (where 'black money' is as big as their GDP), and some developing nations to underdeveloped nations when I say 'other nations'.

The chinese don't know how to behave. They have no problem trying to get smart and rip you off, both in terms of business and trust. Their bitch mentality that keeps trying to convince themselves they are 'victims' when their entire history consists of trying to look down on their neighbors and conquering them is pretty damn amusing.

There are about 1 or 2 decent ones for about 100,000 idiots. I don't mean in an exceptional sense. That's how  it is.

Apparently, some people are either too proud to admit they can be fooled, or just don't know what real respect and trust means if they trust someone with such intent so easily.

That's the very definition of gullibility.


Edit: The topic material doesn't surprise me one bit. Anyone who actually experienced and lived in those places can tell you this is absolutely obvious and comes as natural as the fact that their soil is degrading and pollution is rampant.

The old story about two 'star' chinese economic students and their shit eating contest contributing to GDP comes to mind.

theres no such thing as manipulation, only price discovery

I'm in China a  lot, been dealing with China for years.  While there is some validity that compared to other parts of the world China is full of scammers and liars and in the last few decades full of people who only care about money.   With that said though there are alo plenty of people in China who have strong family and moral values, more so than a lot of people in western countries (where I'm from).....  It goes both ways.  Since China is a country of 1billion+ people everything tends to be in the extreme, if you are looking for something or looking at something you will see A LOT of it.

It depends how you want to look at it.... for example, if someone gets hurt or in an accident in China many people may walk by and not bother to help, this is quite common due to the amount of people who scam people out of money for helping them (you get in an accident, someone helps you up, you claim they hurt you...very common).  On the flip side of things though you go to a country like America and you see people shooting eachother in the streets, acting like thugs, dropping out of school, slanging drugs...etc etc.  So it goes both way... pick your poison I suppose.

When you make blanket accusations though , especially in a place full of over a billion people. Then yes, it makes you look like a racist, or at the very least a bigot.  Youll find some of the best people in China and some of the worst people in China, just like most parts of the world.  Due to the size of China everything tends to be to the extreme though, so as said earlier if you are looking for something negative or positive you will find it and find it on a large scale.

edit:  Couple of real life examples ive gone through in China... .I've been scammed and ripped off (multiple times). I've also had people that I barely know at all bend over backwards to help me through hard times, more so than I'd ever seen in my home country from someone I didn't know well.  So it goes both ways.

Yup, I have heard of something like that as well. :)
FYR: Hypothesis: BTCChina is completely fake (with evidence)
https://bitcointalk.org/index.php?topic=338849.0;all



 ;)

you have been tricked by Btcchina and there's nothing you can do
and you'll still again by using another exchange market.

BTCchina did the same faking volume the other day, now they are back to non existent volume