Volume on Chinese exchanges

[Timeline]

Does anybody now why Coinmarketcap excludes the trading volume of Chinese exchanges? There seems to huge volume on there and price is always higher than on other exchanges.

[Cryptodevises]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

[mexxer-2]

We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume.

[Tstar]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume.

Ok, so that is why we have so much volume on those exchanges. This explains a lot. Really good to know.

[XinXan]

Who cares anyways, almost all the exchanges have different prices and even if the ones that are excluded have even higher prices it still does not really matter.

[Mickeyb]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

We've been over this quite a few times already, Chinese volumes are huge but negligible if you want to know about the market growth or any economic factor, 0/negligible trading fees means you can juggle your own btc hundreds of times to make it seem as if there is a huge btc trading volume.

Ok, so that is why we have so much volume on those exchanges. This explains a lot. Really good to know.

Yes, that's why. I mean in any given moment pretty much, Chinese exchanges will account for about 80% of total daily Bitcoin trade volume. I mean this is huge. Even though the China is a big market this can't be right when you think about it more clearly. Where is the rest of the world and another 6 billion people?

That's why many people just don't care about numbers coming from Chinese exchanges, since they are rigging their numbers pretty much all the time.

[PolarPoint]

This article is dated. It still explains how and why chinese exchanges fake trading volume:
http://www.coindesk.com/reality-chinese-trading-volumes/

Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats.

[Amph]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

on top of this i want to add that the volume is kinda fake, there is mnipulation for the volume there, not reliable

[1Referee]

This article is dated. It still explains how and why chinese exchanges fake trading volume:
http://www.coindesk.com/reality-chinese-trading-volumes/

Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats.

I will never be attracted by exchanges that are clearly increasing their actual volumes by x10. That for me is reason enough not to join them, even if they offer you no trading fees. Any trader with common sense can see that.

[Tstar]

This article is dated. It still explains how and why chinese exchanges fake trading volume:
http://www.coindesk.com/reality-chinese-trading-volumes/

Their main reason is to gain market share and attract investors. Their bloated volumes are unbelievably high. Including them in global trading volume distorts the stats.

That's a very good read: I missed it at the time.

Fakery?

China-based bitcoin exchanges have been accused by users of manipulating trading volumes before, with some claiming to shift over 30,000 BTC in December amidst bitcoin's price plunge, and users claimed the actual number might be a tenth of that.

Some have suggested the high volumes are due to high-frequency trading (HFT) bots, and one said the exchange is able to split large orders into small ones. Other commenters have expressed either surprise or criticism at the exchanges' lack of transparency in general.

[Timeline]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

Ok thanks. This explains it then.

[bitrev]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

Sonds legit. Altough the volume is huge, it would be good to find some mechanism to include it in the fee + current price.

56   Huobi           BTC/CNY   $ 180,645,000 *   $ 340.92   0.00 %   Recently
57   OKCoin.cn   BTC/CNY   $ 170,565,000 *   $ 340.74   0.00 %   Recently
58   BTCChina   BTC/CNY   $ 17,403,400 *   $ 340.55   0.00 %   Recently
59   BTC100   BTC/CNY   $ 13,526,600 *   $ 341.85   0.00 %   Recently
60   BtcTrade   BTC/CNY   $ 12,042,900 *   $ 342.38   0.00 %   Recently
61   itBit           BTC/USD   $ 4,619,110 *   $ 315.32   0.00 %   Recentl

[Eastwind]

The volume of bitcoin exchanges are many times more than exchanges in other countries. The main reason is that there is no fee there. You can trade the same bitcoin many times, without paying a fee.

So to compare the volume with other exchanges, you have to discount the volume in China by 95% or higher.

[extrobot]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

i never knew this
i wonder if no fee exchange will become popular for btc/usd in the future

[Eastwind]

Its' because there are no trading fees on those specific exchanges.

Which means you can buy and sell to yourself at no cost.

This happens on "our" markets as well (the buying and selling to oneself) but fees make this prohibitive. On those specific exchange you are referring to, there are no disencentive to manipulate prices that way, hence the probability that a big % of this volume is "washed" as we say.

This is why such volumes are not taken into account.

i never knew this
i wonder if no fee exchange will become popular for btc/usd in the future

If the Chinese exchanges charge 0.01% fee, the trading cost will make the volume drop 90%.

0% trading fee makes a huge difference there. The market can be manipulated at little cost.