Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: roparker2014 on April 24, 2014, 01:01:19 PM



Title: Explain Fiatleak to me please?
Post by: roparker2014 on April 24, 2014, 01:01:19 PM
Been watching this for about half an hour - all I see is lots of Bitcoin symbols moving from the CNY tag at the bottom of the map, to China.
Does this mean that no one except China is buying any Bitcoins at the moment? Or am I not reading it properly (most likely!)

http://fiatleak.com/


Title: Re: Explain Fiatleak to me please?
Post by: Lauda on April 24, 2014, 01:06:08 PM
Been watching this for about half an hour - all I see is lots of Bitcoin symbols moving from the CNY tag at the bottom of the map, to China.
Does this mean that no one except China is buying any Bitcoins at the moment? Or am I not reading it properly (most likely!)

http://fiatleak.com/
It's supposed to show you where bitcoin is being bought right now. Although I doubt that it is correct, there is too much going to China and very little to other places.


Title: Re: Explain Fiatleak to me please?
Post by: LostDutchman on April 24, 2014, 01:12:12 PM
Been watching this for about half an hour - all I see is lots of Bitcoin symbols moving from the CNY tag at the bottom of the map, to China.
Does this mean that no one except China is buying any Bitcoins at the moment? Or am I not reading it properly (most likely!)

http://fiatleak.com/

If it is accurate, it means Houston we have a problem.

My $.02.

;)



Title: Re: Explain Fiatleak to me please?
Post by: gagalady on April 24, 2014, 01:35:10 PM
Why the bitcoin animation on that site is moving only to china somewhere from Australia :D? What is that site all about i don't really get.


Title: Re: Explain Fiatleak to me please?
Post by: Lauda on April 24, 2014, 01:55:40 PM
Why the bitcoin animation on that site is moving only to china somewhere from Australia :D? What is that site all about i don't really get.
It's not moving from Australia, it's moving from that "CNY".


Title: Re: Explain Fiatleak to me please?
Post by: Nagle on April 24, 2014, 05:31:00 PM
Fiatleak is an illusion. They don't have real data about currencies flowing into and out of exchanges.  They have only the trade data from exchanges, which most exchanges make available. If someone trades AUD and Bitcoin on an exchange, they show that as AUD being invested in Bitcoin. If the same AUD and Bitcoins are traded again, they show it, again, as AUD being invested in Bitcoin.

If someone makes a withdrawal from an exchange, they don't know about it. They show all trades as buying into Bitcoin. That's why Fiatleak is an illusion.

They have cool graphics, but the conclusion they draw from the data is bogus.


Title: Re: Explain Fiatleak to me please?
Post by: The_Gloomfrost on April 24, 2014, 06:52:38 PM
Use the search next time. There are dozens of posts asking about the site.

The above poster is correct - it's really an illusion. Also the data they have is biased towards the exchanges that share it. Last time I checked (months ago) they didn't track any Canadian exchanges on board yet there are about 3 big ones currently.


Title: Re: Explain Fiatleak to me please?
Post by: Lauda on April 24, 2014, 07:04:11 PM
Fiatleak is an illusion. They don't have real data about currencies flowing into and out of exchanges.  They have only the trade data from exchanges, which most exchanges make available. If someone trades AUD and Bitcoin on an exchange, they show that as AUD being invested in Bitcoin. If the same AUD and Bitcoins are traded again, they show it, again, as AUD being invested in Bitcoin.

If someone makes a withdrawal from an exchange, they don't know about it. They show all trades as buying into Bitcoin. That's why Fiatleak is an illusion.

They have cool graphics, but the conclusion they draw from the data is bogus.
I have also said that their data is completely wrong. The concept and looks of fiatleak are great, but there isn't any real (useful) data being displayed.