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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2014, 07:28:02 AM
The myth of "fake volume" is commonly repeated because it helps hide the unpleasant fact that the price is sustained at the current levels only by the Chinese traders, and its future is entirely at their mercy.  Obviously, that fact would make bitcoin-backed funds very hard to sell. 

You get the idea. That is why OKCoin and Huobi must be declared irrelevant and omitted from any statistics.

I'm not sure what your trying to say here.  But I think the Chinese exchanges don't really represent new money.  If there are trades going on then I think it's just trading the same coins back and forth and selling mined coins.  
I looked into the add funds section of these sites and there seem to be very few people selling coins for rmb.  A few months ago there were dozens of people acting as agents to sell coins and even people selling on TaoBao but now there are only a couple of sellers so I don't think there's really a lot of new money coming in from China.
2  Economy / Speculation / Re: Predict the next Gox revelation here and win respect from fellow forum members on: February 27, 2014, 05:53:58 AM

Gox had been keeping a fractional reserve of bitcoins and had been doing so for years.

They had only one or two coins for every ten coins that people had stored on their exchange.

When the price increased x1000 their liabilities increased x1000 and they had no where near enough fiat to buy coins for everyone to withdraw.
3  Economy / Speculation / Re: China buying alot bitcoins? on: February 26, 2014, 10:56:46 AM

Just to be clear, what I was saying in the post above is that the Chinese aren't really buying that many bitcoins and that the volume doesn't represent real money entering the market.

If the top seller for rmb vouchers on btcchina has only sold 4million rmb of vouchers in the last 30 days then how can there be volume of 64million rmb in the last 24 hours?  Sure maybe there's been 64million traded in the last 24 hours but there doesn't seem to be much new money coming in.
4  Economy / Speculation / Re: China buying alot bitcoins? on: February 26, 2014, 08:40:10 AM
I bought some coins in China yesterday using a RMB bank account.  I got them from btcchina and this was the process.

Buy rmb voucher from taobao (Chinese Ebay)
Use the code from the voucher to add rmb to account on btcchina (the funds are locked on btcchina at this point)
Confirm the receipt of goods on taobao
Seller unlocks the funds on btcchina
Use the funds to buy coins

The whole process is really simple and usually only takes about 5 minutes although it's not automated.

I bought yesterday when the price was about $420 although the price was 3150 rmb (about $510).  The price is usually about $100 higher in China.

At the time though, the guy selling the vouchers said things were going crazy for him with lots of people trying to buy vouchers at the same time.

Looking at the taobao account of the guy selling the vouchers you can see how much he's sold in the last 30 days.

265 10,000 rmb vouchers
156 5,000 rmb vouchers
9 50,000 rmb vouchers
which is about 4 million rmb ($650,000) in 30 days.

There are other ways to get rmb onto btcchina and other sellers of vouchers but this guy seems to be the top seller on taobao (at least one other guy has similar numbers).  And of course there's more buying going on on huobi than btcchina.

The trading volume for the last 24 hours on btcchina is about 18,000 coins which is about 64 million rmb.
5  Economy / Speculation / Re: Why has investment from China stalled? on: February 05, 2014, 08:17:55 AM
But now it has been a week or 2,
I'm trying to keep my ear to the ground for the next big rush --- there is volume there but price isn't moving, so this is indicative of about equal buying and selling going on, so what do you guys think is going on behind the scenes over there? (or the Chinese citizens and investors' mentality)

It's still Spring festival time so everything remains shutdown.  People will start returning to work and things will start getting back to normal next week.

Quote
Their real estate is in a a bubble, their stock market is full of corruption/false reporting/manipulation

Corruption/false reporting/manipulation - this is how the Chinese people I know describe bitcoin.
6  Other / Beginners & Help / Re: People's Bank of China Says Bitcoin Cannot Circulate as Currency in the Market on: December 05, 2013, 03:05:39 PM

So if payment companies can't accept bitcoin it means that TaoBao can't accept payment in bitcoins
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