Bitcoin to China

[howardb]

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?

[drrussellshane]

Chinese are buying heavier than others?

or

The site is wrong?

[Lauda]

Chinese are buying heavier than others?

or

The site is wrong?

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.

[Meuh6879]

heavy user (and buyer/seller) are EUROPE, RUSSIA and CHINA : https://blockchain.info/fr/nodes-globe?series=onlineNow

second place : australia and USA.

[CryptoPanda]

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

[franky1]

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

[howardb]

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!).

[waxwing]

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?

[Lauda]

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?

While no trades happen in Europe for hours?

[CryptoPanda]

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