Exchange volume distribution. BTC belongs to China

[_Victory_]

there are alot of people saying the volume is fake because the exchanges dont charge commission, which makes no sense.

[mirana12345]

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  

I agree with the opinion that those chineese exchanges are not to be trusted when it comes to exchange volume.
Just think about it, operating an exchange costs a lot, especially with big number of users, and if they dont charge fee - how do they stay alive ?

I'm guessing that both their user base and real exchange volume are atleast 100x lower than what they claim it to be. No fee's - not a real exchange imho

[praprata]

How is this news?
China > Largest miningpools f2pool/ hashnest
China > Largest Asic suppliers
China > Largest exchanges based on volume.

So yeah nothing new here.

[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

I agree with the opinion that those chineese exchanges are not to be trusted when it comes to exchange volume.
Just think about it, operating an exchange costs a lot, especially with big number of users, and if they dont charge fee - how do they stay alive ?

I'm guessing that both their user base and real exchange volume are atleast 100x lower than what they claim it to be. No fee's - not a real exchange imho

if they manipulate the volume and they do, then they manipulate the BTC price as well. of course, all the exchangers have fake volumes but the chinese ones are multiplying x 10 times. is it not something serious this thing? why is the BTC media so quiet regarding to this very important aspect?

[pooya87]

there are alot of people saying the volume is fake because the exchanges dont charge commission, which makes no sense.

unless i see the link to these exchanger's FAQ page saying we charge 0 fee on each trade i say it is a big fat lie or misinformation that people are spreading because i have checked one and it was not zero!!

[MingLee]

there are alot of people saying the volume is fake because the exchanges dont charge commission, which makes no sense.

unless i see the link to these exchanger's FAQ page saying we charge 0 fee on each trade i say it is a big fat lie or misinformation that people are spreading because i have checked one and it was not zero!!

Maybe some people spreading FUD about the price, and trying to slink it downwards? 

What are the fees anyways, if they're quite minimal then there might as well not be any fee associated with the transactions. I'd keep moving $100 and shuffling everything back and forth if it only cost me $0.01 to move the money each time it was moved.

[QuestionAuthority]

So you just figured that one out huh. You took the little bus to school, didn't you?

[mkc]

I though Bitflyer and BTCBOX reclaim BTC/JPY number one.
Someone posted it a few days ago. See it here
https://bitcointalk.org/index.php?topic=1431112.0

[Herbert2020]

the pie chart seems unreal to me, although there is no argument about the massive trade volume in chinese exchangers but i don't think it is that much difference between the volumes.
it is possible that that site is using the API in a wrong way, you should compare the bitcoin volume maybe they are comparing fiat volumes (cny with usd).

[RastoMan]

You can only get the real volume from the exchanges which charge a  trading fee. without fee, it is easy to manipulate.

[doublemore]

without words 


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

I think china are perhaps 60% of the market, they do seem to control the overall price as price will never move in either direction without china saying so.  Its got to be bullish overall though with the miner control in china they are going to be fighting hard for bitcoin in many ways.

[mayax]

You can only get the real volume from the exchanges which charge a  trading fee. without fee, it is easy to manipulate.

volume manipulation means price manipulation and this affect ALL the BTC users. why nobody is saying a word about this shit? the whole BTC media should explode with articles related to fake volumes.
how can BTC become "mainstream" when it's a full of lies and illegalities?

[Evildrum]

Pokerstars had to ban Chinese players because they where cheating in big groups and it was the only way to fix the issue. China is always going to be a issue of influence.

[mayax]

Pokerstars had to ban Chinese players because they where cheating in big groups and it was the only way to fix the issue. China is always going to be a issue of influence.

 the chinesse exchanges are doing more. they are manipulating the whole market with their HUGE fake volumes. Normally they should be "banned" but how can you do that when they "own" the BTC. They own the miners and the so called big exchangers.

[bittrojan]

without words 


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

lets say that charts is truted and its a trusted site,bitcoin in china is so popular and so many exchange there,its not wonder if biggest exchange come from china,maybe small exchange work with the biggest.

[Kprawn]

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  

You not getting any genuine figures from China on these matters and there are no journalism ethics... because there is very little media coverage in China. In any other western country things like will be

challenged, but this is not a western country. This is in any case nothing new and not worth the debate...because everyone knows and accepts this. We base the Bitcoin price and the statistics we can trust

and whatever they are doing there.. should be their problem. 

[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  

You not getting any genuine figures from China on these matters and there are no journalism ethics... because there is very little media coverage in China. In any other western country things like will be

challenged, but this is not a western country. This is in any case nothing new and not worth the debate...because everyone knows and accepts this. We base the Bitcoin price and the statistics we can trust

and whatever they are doing there.. should be their problem.  

This is what I am saying. The BTC price is made by those like Okcoin, Huobi, BTC China. These are exactly the ones you don't trust  They dictate the price through their fake volumes.

I would be alright if someone with a lot of money would "manipulate" the market." This guy put a lot of money and he is playing... that's it" BUT the chinesse exchanges and not only, have bots who are trading "air"(fake transactions) not real money or value of money like BTC

[yayayo]

I've repeatedly read things like "fake volume", "everyone knows you can't trust" etc. in relation to Chinese exchanges. However I've yet to encounter serious evidence that verifies these claims.

While it is certainly possible that these claims are correct, it is still possible that the most simple explanation is the true one: The Chinese Bitcoin exchange market is bigger, because there are more users. Just consider population statistics.

Can anybody point me to some evidence regarding the frequent fraud claims against the major Chinese exchanges?

ya.ya.yo!

[Amadues]

Chinese are famous for the capacity to earn great quantity of all... see gold for example they are one of the most producers in the world...
btc can belongs to china but "the value" inside this technology is for all people and not only for who take large quantities .

[European Central Bank]

I've repeatedly read things like "fake volume", "everyone knows you can't trust" etc. in relation to Chinese exchanges. However I've yet to encounter serious evidence that verifies these claims.

There was all types of screaming about OKCoin when Roger Ver fell out with them over his domain name. Some ex employee said they ran the occasional bot and staff were encouraged to trade.

Anyway it doesn't really matter. They could have ten legit customers with a million bots each. That's not technically fake volume but I don't think it's worth paying any attention to.