CNY and JPY have enjoyed 90% share of trading market

[GreenCoin22]

 

something interesting here https://www.coinhills.com/market/currency/

it turned out that the USD is a small currency in Bitcoin world.

[Leonard2016]

i have never heard of that site before so i always check the coinsmarketcap and i always see the Chinese exchanges at the bottom (excluded volume) from the total volume and they have mad volume each day.

it is because of the 0 fee!

[SANALIU]

i the world real curency dollar still dominated in market trading in fiat money
but in trading bitcoin the first and dominan market is CNY
you can see volume transcation in huobi and okcoin in coinmarketcap, pair CNY/BTC is dominan high volume transaction

[pooya87]

i don't know much about the JPY markets but the CNY markets especially in okcoin has always been a hot market with a massive volume, which can be partly fake volume partly because of the zero fee rule of that exchange which lets you be more active with your trades and also their price swings are greater than price swing of BTC/USD which makes a bigger volume too.

[Sidas_Crew669]

It's not something a small thing ", I think this is just based on the amount of transactions carried out in the form of bitcoin into the currency of each country. This is not a problem for the life of the bitcoin, which would be growth problems is bitcoin going forward. Because if bitcoin only gives the impression, then growth will be stunted bitcoin

[MingLee]

It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now. Having them be doing 90% of the trading makes sense, especially when you consider a lot of who you'd expect to be doing the trading.

[amacar2]

Actually china have majority of mining power so they will generate more bitcoin than other miners as well as chinese are behind the every price pump of bitcoin usually so large volume coming from china is not a suprise.

[Shiroslullaby]

With all the Chinese miners I would definitely expect the most trading to be done in Chinese currency.
But it is a surprise that Japan does so much trading. That is something I would not have expected.
Is it just a lot of large traders, or is BTC popular in Japan?

[chesthing]

The dollar is strong and looking good, not so much for CNY and JPY so what's the surprise here?

[GreenCoin22]

something interesting here https://www.coinhills.com/market/currency/

it turned out that the USD is a small currency in Bitcoin world.

okay, let's excluded chinese exchanges

even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?

[panju1]

something interesting here https://www.coinhills.com/market/currency/

it turned out that the USD is a small currency in Bitcoin world.

okay, let's excluded chinese exchanges

even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?

Bitcoin definitely is popular in Japan.
But what you should be looking at is overall bitcoin transaction volume, rather than just trading volume at exchanges.

[Herbert2020]

something interesting here https://www.coinhills.com/market/currency/

it turned out that the USD is a small currency in Bitcoin world.

okay, let's excluded chinese exchanges

even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?

this only proves that there are far more "traders" in Japan and China "trading" bitcoin with their money and also proves that once again zero fees on their exchanges are a volume magnet because you can make profit even with an stable market like this while it becomes that much harder with bitcoin / USD exchanges that charge 0.25% fee.

[European Central Bank]

It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now.

I can't see much evidence of bitcoin getting anywhere in japan and you can't use it for anything in china other than trading once you've mined it. there is only one reason for both countries being up there and that is zero fees. if north korea had zero fee exchanges then that would be the number one.

[MingLee]

It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now.

I can't see much evidence of bitcoin getting anywhere in japan and you can't use it for anything in china other than trading once you've mined it. there is only one reason for both countries being up there and that is zero fees. if north korea had zero fee exchanges then that would be the number one.

I personally think that there is a lot of trading and so occurring in these countries mostly because of the fact that they can be used for much more beyond just trading them back and forth. They probably move a lot of money back and forth with all of their trading to give it a use, and chances are it gives the NEETs and so of Japan the ability to make some money off of doing nothing really.

[Paashaas]

Bitcoin is a rising star in Japan.

[Wind_FURY]

something interesting here https://www.coinhills.com/market/currency/

it turned out that the USD is a small currency in Bitcoin world.

okay, let's excluded chinese exchanges

even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?

this only proves that there are far more "traders" in Japan and China "trading" bitcoin with their money and also proves that once again zero fees on their exchanges are a volume magnet because you can make profit even with an stable market like this while it becomes that much harder with bitcoin / USD exchanges that charge 0.25% fee.

Is it not already a known fact that the exchanges with 0% fees trade with themselves in order to create fake volume? The CEO of Bitcoin China already said this about Okcoin. Okcoin is already known to be creating fake volume. So it will not come as a surprise that the other exchanges that have 0% fees are creating fake volume too.

[gentlemand]

Is it not already a known fact that the exchanges with 0% fees trade with themselves in order to create fake volume? The CEO of Bitcoin China already said this about Okcoin. Okcoin is already known to be creating fake volume. So it will not come as a surprise that the other exchanges that have 0% fees are creating fake volume too.

It's been proposed enough times but I don't know if it's been comprehensively proven. I remember some ex OKcoin employee saying they were told to keep it churning. There's nothing stopping them from doing so however there are probably enough traders ready to ping coins back and forth for it not to be a necessity.

[Shiroslullaby]

That really makes me interested in the Okcoin business model.
I had no idea that such a thing as a 0% fee exchange existed. Is it really free to exchange coins?
If so, how would a business like this turn a profit?
It would cost a huge amount of money to run a successful exchange and keep servers running, security up to date, support staff on hand, etc... 
How are they affording all this? I don't see any ads on their site? Are they offering some other products/ services that charge a fee?

[gentlemand]

I had no idea that such a thing as a 0% fee exchange existed. Is it really free to exchange coins?
If so, how would a business like this turn a profit?

Yes, it's free to trade. I assume they make their money from fees on margin trading, perhaps charging withdrawal fees and of course front running their customers.

[windale]

CNY is dominated volume transaction in market bitcoin
you can see 5 big exchanger volume transaction all from china and pair bitcoin and yuan
in big volume transaction
but JPY still under market dollar