Exchange volume distribution. BTC belongs to China

[mayax]

without words 


http://bitcoincharts.com/charts/volumepie/

[Kprawn]

Everyone knows the Chinese exchanges are not a reliable source for information and those stats are being manipulated. Those exchanges are also in

competition with each other, so they manipulate those stats. I mostly ignore all Chinese sources when I look at the prices. These are some of the

sources I use to get a average price :

Bitfinex
Bitstamp
BTC-E
LocalBitcoins 

[panju1]

When there are no transaction fees, volumes are not reliable at all.
You could trade with yourself all day long and drive up volumes. 

[NorrisK]

This has been like this since the chinese exchanges got big.

The thing is that it is mainly artificial volume to make it look like they are the hotshots around. Due to their zeor trading fees, bots can move coins around between their own hands as often as they like without spending any precious coins. What they do succeed in though, is pumping the trading volume like mad.

Don't be distracted by this too much, it means nothing.

[pedrog]

Some serious shenanigans going on in there.

Also:

How would you describe the Bitcoin market in China now and in the future?

The Bitcoin market in China now is off its peaks. Our volumes are not as high as compared to fake volumes of competitors, but we have a good pulse on the market.  Our research has shown us a lot of people are on the sidelines. The Chinese government put a chill factor on the market in December and scared a lot of people. Half of the people are scared. Some strong believers are still there. Volume is one tenth of what it used to be.

https://www.cryptocoinsnews.com/future-bitcoin-china-bobby-lee-speaks/

[mayax]

When there are no transaction fees, volumes are not reliable at all.
You could trade with yourself all day long and drive up volumes.  

then, the fake volumes do not affect the BTC price overall? is it not that means market manipulation?

[Red-Apple]

When there are no transaction fees, volumes are not reliable at all.
You could trade with yourself all day long and drive up volumes. 

no transaction fee or no trading fee? these are two different things. and do you have a reference for what you say?


also it doesn't matter if it is 0 because it has been proven that Chinese are very interested in crypto markets whether it is bitcoin or altcoins they have always been there with lots of money to invest.

[MFahad]

Everyone knows the Chinese exchanges are not a reliable source for information and those stats are being manipulated. Those exchanges are also in

competition with each other, so they manipulate those stats. I mostly ignore all Chinese sources when I look at the prices. These are some of the

sources I use to get a average price :

Bitfinex
Bitstamp
BTC-E
LocalBitcoins 

Yes you are right as this cant be the true source of information. Also these exchanges are in Chinese language and it is almost impossible to check whats going on there.
Other than that chiesne are also great investors in bitcoins. No doubt about that.

[amacar2]

92% oh man that is really huge volume, but the fact is doubt about even 50% is true volume. 
But whatever the stats shows we all know chinese loves bitcoin and they can drive the market to both way.

[Boosterious]

without words 


http://bitcoincharts.com/charts/volumepie/

i dont think this is true and trusted data chart,even we know china is lead on bitcoin miner,i can believe if okcoin lead with 92% in bitcoin market,and CNY 95% for currency,can anyone give another source?

[mexicantarget]

If you're referring to OKCasino, then you're making a huge mistake.
It's well known they run volumizers on their exchange in order to attract new money.

If you want a reliable exchange, you should look at Stamp.

[Yakamoto]

Volume =/= ownership, and these are poor statistics as mentioned by other users anyways.

Bitcoin might just be being sent in a circle in China for all we know. I heavily doubt that there is a large amount of users moving it.

[European Central Bank]

Let's see USD and CNY flow in and out. Then we'll know what the real deal is. It kinda sucks that people think btc belongs to China when there's not alot actually going on there.

[countryfree]

It has always been very difficult to get reliable data from China, regarding anything economy-related. It's the same with sales of luxury goods. China has always been good at faking things. One emperor had a fake army, some centuries ago.

[mayax]

Let's see USD and CNY flow in and out. Then we'll know what the real deal is. It kinda sucks that people think btc belongs to China when there's not alot actually going on there.

I agree with you. All the exchangers are talking about transparency but no one will want to share this kind of information; IN and OUT transactions. 

It will reveal how small they are and that all the BUZZ is for advertising. Many from these exchangers would not survive without the money from stupid "investors".

[katiecbell]

BTC does not belong only to china.
These stats are not yet confirmed

[mayax]

BTC does not belong only to china.
These stats are not yet confirmed

confirmed by...whom?

[alyssa85]

When there are no transaction fees, volumes are not reliable at all.
You could trade with yourself all day long and drive up volumes. 

This. You should only pay attention to exchanges charging fees - their trades are real (anyone just trading back and forth with themselves all day would soon go broke).

[BTCLovingDude]

it is a far way to go from a high trade volume on exchanger to claiming China owning bitcoin.

Chinese people have always been very interested in crypto currencies and have always invested big money in this market. maybe it is their economy or maybe it is the high number of population there but they have always been so active in this market.

[mayax]

it is a far way to go from a high trade volume on exchanger to claiming China owning bitcoin.

Chinese people have always been very interested in crypto currencies and have always invested big money in this market. maybe it is their economy or maybe it is the high number of population there but they have always been so active in this market.

who owns +90% from mining? who owns the biggest exchangers?

according to any statistic, China  .    Then the whole Bitcoin industry belongs to them.

https://bitcoinity.org/markets/list

https://blockchain.info/pools

If the numbers are fake then why the Bitcoin media doesn't say anything about that? Normally, the journalism's ethic and the common sense should write: " BTC China, Okcoin, Huobi, LakeBtc  are manipulating the price and they must be avoided" or to take an interview with them where these so called exchangers explain the numbers .  I don't see any article about that lately.

I repeat: over 90% from BTC market belongs to China. Okcoin has 93% from this market too.

http://bitcoincharts.com/charts/volumepie/

If so, USD/Euro, US and European exchangers doesn't exist as real BTC business