Exchange volume distribution. BTC belongs to China

[ebliever]

I expect most sites listing bitcoin pricing are perfectly aware of the situation with Chinese exchanges, and handle it in a manner similar to Coinmarketcap.com:
http://coinmarketcap.com/currencies/bitcoin/#markets

Notice that all the fee-free Chinese exchanges are listed down at the bottom (starting at #87 on the list as of this moment) - and right now, Chinese exchanges are only represented by OKCoin in #4, out of the top 10!



#   Source   Pair   Volume (24h)   Price   Volume (%)   Updated
1   Poloniex   ETH/BTC   $ 18,713,500   $ 454.20   31.37 %   Recently
2   Kraken   ETH/BTC   $ 5,737,290   $ 454.20   9.62 %   Recently
3   Bitfinex   BTC/USD   $ 4,113,790   $ 453.53   6.90 %   Recently
4   OkCoin Intl.   BTC/USD   $ 3,588,240   $ 452.65   6.02 %   Recently
5   Kraken   BTC/EUR   $ 2,846,940   $ 453.96   4.77 %   Recently
6   Coinbase Exchange   BTC/USD   $ 2,720,390   $ 456.00   4.56 %   Recently
7   BTC-E   BTC/USD   $ 2,331,790   $ 452.30   3.91 %   Recently
8   Bitfinex   ETH/BTC   $ 2,122,840   $ 454.20   3.56 %   Recently
9   Bitstamp   BTC/USD   $ 1,603,690   $ 453.60   2.69 %   Recently
10   itBit   BTC/USD   $ 1,311,060   $ 452.74   2.20 %   Recently

please read again and you will notice that the chinesse exchangers are on top with over 90% CNY and USD from market.

Only Chinese exchange I see there is OkCoin. Coinmarketcap specifically excludes the zero-fee exchange volumes from their calculations.

[nanonymousx]

Since so many people talking about chines exchange, I am wondering, can someone help me out which exchanges are Chinese?

Is bitfinex Chinese exchange?
Is lakeBtc Chinese exchange?

I know OKcoin and huobi are Chinese exchanges, am I right?

[Amph]

merchants does not belong to china, and they hold the most important part of bitcoin, with the mining scene, so china as best is contorlling 50% of bitcoin, talking about the absolute control over it

people always forget the importance of the merchants....

[Wendigo]

As far as I know the Chinese are interested only in the mining of Bitcoin and the general population hardly ever uses Bitcoin for online purchases so merchants in China are a minority and don't have any important say in the Bitcoin matters. The miners hold almost all the coins themselves in China.

[7788bitcoin]

Not sure if the volume is real. Maybe they use different formula for the calculations. Nevertheless, there is no doubt that Chinese in China have great interest in BTC.

[Bestwishes745]

I think it is because of its zero trading fees, as people want to work on those bitcoin trading exchanges where the exchange fees are much lower or they do not have any exchange fees, and the other thing is that the people of China are more interested in bitcoin and they use their country's exchanges so a large number of bitcoin users are there,

[mayax]

I think it is because of its zero trading fees, as people want to work on those bitcoin trading exchanges where the exchange fees are much lower or they do not have any exchange fees, and the other thing is that the people of China are more interested in bitcoin and they use their country's exchanges so a large number of bitcoin users are there,

 In china, the banking institutions are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry.

http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions

in short, the people cannot send or receive money into their bank accounts from and to exchangers.
More than that, all the exchangers are outlaw. They are not financial licensed as the chinese law requests.

The question is : How is it possible for the chinesse exchangers to own over 95% from BTC trades while they cannot deal with local banks? I agree that SOME of their clients may send international bank wires(outside of China) by lying the banks that they are sending the money for buying biscuits...BUT we are talking about +95% from Bitcoin trades not 10 wires

[Jeremycoin]

China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.

[mayax]

China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.

It's an artificial hype. It's based on false volume and that's why the normal people are staying away for BTC.

[mayax]

I expect most sites listing bitcoin pricing are perfectly aware of the situation with Chinese exchanges, and handle it in a manner similar to Coinmarketcap.com:
http://coinmarketcap.com/currencies/bitcoin/#markets

Notice that all the fee-free Chinese exchanges are listed down at the bottom (starting at #87 on the list as of this moment) - and right now, Chinese exchanges are only represented by OKCoin in #4, out of the top 10!



#   Source   Pair   Volume (24h)   Price   Volume (%)   Updated
1   Poloniex   ETH/BTC   $ 18,713,500   $ 454.20   31.37 %   Recently
2   Kraken   ETH/BTC   $ 5,737,290   $ 454.20   9.62 %   Recently
3   Bitfinex   BTC/USD   $ 4,113,790   $ 453.53   6.90 %   Recently
4   OkCoin Intl.   BTC/USD   $ 3,588,240   $ 452.65   6.02 %   Recently
5   Kraken   BTC/EUR   $ 2,846,940   $ 453.96   4.77 %   Recently
6   Coinbase Exchange   BTC/USD   $ 2,720,390   $ 456.00   4.56 %   Recently
7   BTC-E   BTC/USD   $ 2,331,790   $ 452.30   3.91 %   Recently
8   Bitfinex   ETH/BTC   $ 2,122,840   $ 454.20   3.56 %   Recently
9   Bitstamp   BTC/USD   $ 1,603,690   $ 453.60   2.69 %   Recently
10   itBit   BTC/USD   $ 1,311,060   $ 452.74   2.20 %   Recently

please read again and you will notice that the chinesse exchangers are on top with over 90% CNY and USD from market.

Only Chinese exchange I see there is OkCoin. Coinmarketcap specifically excludes the zero-fee exchange volumes from their calculations.

Did you mean "Coinmarketcap specifically excludes the exchange with fake volume from their calculations"

Do you know any website who shows the real volumes?

[DimensionZ]

China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.

It's an artificial hype. It's based on false volume and that's why the normal people are staying away for BTC.

Why should the normal people stay away from Bitcoin? Normal people could still be using Bitcoin as a currency and not a store of value if they wish. If normal people should not use Bitcoin because of fake trade volume and artificial hype then which alt coin do you suggest they should start using instead. Let me guess, is it Ethereum?

[Labumi]

Not sure if the volume is real. Maybe they use different formula for the calculations. Nevertheless, there is no doubt that Chinese in China have great interest in BTC.

You have different opinions, but it is indeed real. You can prove yourself if you don't believe it. You may not yet know the formula that is used and it is causing you not to believe. Not denied that China is becoming a big market for Bitcoin and it strengthens market Bitcoin. Hope is not only China that became the Foundation of the BTC but also other countries

[salmanahmedone]

As far as I know the Chinese are interested only in the mining of Bitcoin and the general population hardly ever uses Bitcoin for online purchases so merchants in China are a minority and don't have any important say in the Bitcoin matters. The miners hold almost all the coins themselves in China.

It really shouldn’t make a difference if the majority of miners where in China, USA or any other part of the world; at we are getting a decent supply; the main issue is the demand; if the demand should decline then the value of the bitcoin would decrease; this can also affect the supply because no one would want to mine for less.

[QuestionAuthority]

Chinese have all the bitcoins because they are industrious intelligent people. Westerners don't have as many bitcoins because all they do all day is sit around getting high and posting on forums.

[mayax]

Chinese have all the bitcoins because they are industrious intelligent people. Westerners don't have as many bitcoins because all they do all day is sit around getting high and posting on forums.

sure. they are "intelligent". they have the "Willy bot" and they put it work from time to time like now.

[shinratensei_]

without words 


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

On the previous topic, I've heard if volume distribution in china's exchange is only manipulated but I don't know Which is right, 3 largest Chinese mining firms control the 70% of volume and network speed. maybe it's will give effect in volume distribution too.

[Kewatia]

The Chinese exchanges charge 0% trading fee, so the volume there is not real. It can be manipulated easily.

[wintermeasures]

without words 


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

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

[mayax]

without words 


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

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? This is the question and nobody answers

[QuestionAuthority]

without words 


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

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? This is the question and nobody answers

It's because everyone on this forum fits into one of three categories, clueless teenager, brain dead adult, or shill.