Chinese bitcoin spot exchanges OKCoin and Huobi are faking most trading volume

[Jet Cash]

If you have 1 coin, you can buy at 429, sell at 432. Then buy back 429, sell 432. I mean you can do this 5 times a day and counted as 10 coins traded.
I don't see much problem with it.

That's fine if you have customers. If you haven't, then you need the contra trades to buy at 432 and sell at 429.

[Wendigo]

It's sad to see businesses conducting unethical tactics and relying on fake data to get more customers but this is not peculiar for the Chinese industry. Most of their businesses tend to plagiarize other companies' products or manufacture items with misleading specifications to defraud their customers. I think the Chinese government must step in and curb this kind of frivolous behavior because it's just preposterous. The OKCoin and Huobi exchanges must be sanctioned for what they are doing.

[bitbunnny]

It seems like faking is part of their culture, that is not the only field where they are doing this. They don't even probably think this is wrong.

[QuestionAuthority]

It seems like faking is part of their culture, that is not the only field where they are doing this. They don't even probably think this is wrong.

You're right, they probably don't think it's wrong. Most of the Chinese people I know hate the way Americans behave. They would probably like nothing more than to wipe us off the face of the earth. I think the only reason China doesn't bomb America is because they own most of it. That would be like bombing your own country.

[Kprawn]

It seems like faking is part of their culture, that is not the only field where they are doing this. They don't even probably think this is wrong.

They know exactly what they doing, make no mistake about that. The competition between these exchanges are actually stupid and nobody believe in it's figures, apart from them. We have a saying, If

it is made in China, chose the other option. They are not known for making quality products and most of the time it is mass produced to maximize profits. Once you build a reputation for that kind of

behaviour, it is the end for your business. {Nobody takes you serious}