Recent rally correlated with exponential increase of fake volume on BTC China

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Ibian:
Quote from: Torque on November 05, 2016, 03:17:45 PM

As long as these two things below remain true, I will never believe that China has an order of magnitude more Bitcoin trading than the rest of the world.

1. Whale accounts on Chinese exchanges are definitely owned and operated by the SAME whales on other exchanges elsewhere in the world, so that these whales can coordinate/dominate price action across all major exchanges.

2. If you watch the market's price movements and where prices settle for long periods, they almost always settle just below, at, or bounce off of ROUND/EVEN NUMBER DOLLAR DENOMINATED PRICES. Such round numbers as $500, $510, $600, $680, etc. The point here is, if CHINESE traders were responsible for these price actions, they SURELY WOULDN'T GIVE TWO SHITS ABOUT EVEN NUMBER DOLLAR PRICES from a psychological standpoint, because the Yuan exchange rate is different than the dollar. They would only care about Yuan psychological numbers to affect the Chinese market and other Chinese users/traders.

Conclusion then? The whales are all *American* traders (posing as Chinese ones), and are price setting across all exchanges according to what affects the American market and psyche. Bitcoin is no bigger in China than it is anywhere else, and they are definitely not *leading* anything. If a big market move happens and it starts on a Chinese exchange, that says and means nothing, because an American whale trader likely owns that Chinese account and initiated the move.

#2 Unless that's what they WANT you to think!

jondeen707:
Quote from: Torque on November 05, 2016, 03:17:45 PM

As long as these two things below remain true, I will never believe that China has an order of magnitude more Bitcoin trading than the rest of the world.

1. Whale accounts on Chinese exchanges are definitely owned and operated by the SAME whales on other exchanges elsewhere in the world, so that these whales can coordinate/dominate price action across all major exchanges.

2. If you watch the market's price movements and where prices settle for long periods, they almost always settle just below, at, or bounce off of ROUND/EVEN NUMBER DOLLAR DENOMINATED PRICES. Such round numbers as $500, $510, $600, $680, etc. The point here is, if CHINESE traders were responsible for these price actions, they SURELY WOULDN'T GIVE TWO SHITS ABOUT EVEN NUMBER DOLLAR PRICES from a psychological standpoint, because the Yuan exchange rate is different than the dollar. They would only care about Yuan psychological numbers to affect the Chinese market and other Chinese users/traders.

Conclusion then? The whales are all *American* traders (posing as Chinese ones), and are price setting across all exchanges according to what affects the American market and psyche. Bitcoin is no bigger in China than it is anywhere else, and they are definitely not *leading* anything. If a big market move happens and it starts on a Chinese exchange, that says and means nothing, because an American whale trader likely owns that Chinese account and initiated the move.

That's one curious conspiracy theory 8)

European Central Bank:
Quote from: Torque on November 05, 2016, 03:17:45 PM

Bitcoin is no bigger in China than it is anywhere else, and they are definitely not *leading* anything.

this is what i believe too. most markets are illusions but bitcoin is a flat out fabrication. i don't really care but with no regulation, no central authority and the rampant greed and fear of the amateurs they prey on this is an inevitability.

maokoto:
It is hard to believe that traders are so naive to not recognize fake volume. Or perharps there are too many newbie traders in this world?

Ibian:
Quote from: maokoto on November 05, 2016, 04:13:20 PM

It is hard to believe that traders are so naive to not recognize fake volume. Or perharps there are too many newbie traders in this world?

There will always be newbies. At least until your local grocer accepts bitcoin. Then we may have hit saturation point.

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