[2017-01-17]-Coindesk- Estimating China's Real Bitcoin Trading Volumes

[Lucius]

Estimating China's Real Bitcoin Trading Volumes

Today, China's exchanges report 98% of global volume, a figure that would suggest a huge dominance by its markets.

Unfortunately, we know that most of this volume is fake.

Unlike the rest of the world, China-based exchanges are unique in that they do not charge fees on bitcoin trades. Instead they make money via withdrawal charges out of the exchange. Further, these fees reduce as your trading volume increases, so this incentivizes traders to bolster this figure by buying and selling from themselves at zero cost.

Still, there's a ocean of data coming from the markets, and they hold hidden secrets.

In this study, I'll peer into the data and attempt (as far as I know) the first estimate of true China-based volumes using data driven methods.

http://www.coindesk.com/estimating-data-china-real-bitcoin-trading-volumes/

[InvoKing]

I didn't follow the charts as I did before even that i don't understand it fully but the volume in the Chinese exchanges has fallen recently to +50%
Am I wrong? Huge fake volumes?

[deadsilent]

I didn't follow the charts as I did before even that i don't understand it fully but the volume in the Chinese exchanges has fallen recently to +50%
Am I wrong? Huge fake volumes?

Due to PBoC investigations the price fall huge amount on a single day. Maybe PBoC was alarmed when they saw the volumes. I saw the chart and its not looking normal. Theres abnormality on volumes. I think its a huge fake volumes. And now PBoC are now monitoring all exchange in China https://bitcointalk.org/index.php?topic=1751442.0

[InvoKing]

I didn't follow the charts as I did before even that i don't understand it fully but the volume in the Chinese exchanges has fallen recently to +50%
Am I wrong? Huge fake volumes?

Due to PBoC investigations the price fall huge amount on a single day. Maybe PBoC was alarmed when they saw the volumes. I saw the chart and its not looking normal. Theres abnormality on volumes. I think its a huge fake volumes. And now PBoC are now monitoring all exchange in China https://bitcointalk.org/index.php?topic=1751442.0

Indeed and the prove is the relative stability of the volumes after the action was done
-50%... Huge fake volumes, maybe PBoC wasn't wrong in its action but the timing rised questions

[notthematrix]

This chart is based on REAL volumes https://coinmarketcap.com/currencies/bitcoin/#markets
chineese were all playing with leveraged bitcoins....
what is as stupid as can be bacause bitcoins can not be printed from thin air like fiats , its not a fractional reserve system like fiat... there will be a max supply of 21.000.000 BTC ever....
trading btc that don't exist on blockchain is very dumb.

[1Referee]

Indeed and the prove is the relative stability of the volumes after the action was done
-50%... Huge fake volumes

I think we might even see a larger decrease of their trading volumes as flash traders have no chance to benefit from the slightest increases/decreases anymore due to the fees. Just keep an eye at the volumes of the Chinese giant exchanges in the coming days, you'll notice that it will only go down in number. https://bitcoinity.org/markets/list

maybe PBoC wasn't wrong in its action but the timing rised questions

It shouldn't be a surprise anymore that everytime the price happens to go up big time, that something happens where the price receives a huge load of beatings in a very short time. Once again it was a well planned attack from the highest levels. I personally expected the price to plummet before reaching $1000 due to whatever form of drama or "hacking" accident, but it happened at the +$1100 levels.

[ImHash]

Isn't fake volume obvious as fake? I mean who are you fooling here unsuspected newbies or government agencies with years of experience and billions of dollars invested to make sure no one could evade taxes? when people knew their trading volumes are fake, what's the point then?
No fiat money moved around different bank accounts after those fake trades is enough evidence of forging fake trades.

[Goms]

PBoC needs to put a stronger leash on Chinese exchanges so bitcoin price will not be manipulated - this ends up keeping new adopters away as they can't decide the best time to buy bitcoins since the price is so unstable.