OKCoin and Bitfinex have the same volume now!

[talkbitcoin]

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

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[European Central Bank]

it'll fall further and maybe all or most of the chinese exchanges will close their doors.

you can have a bitstamp or gemini with fees and no margin when there's a little bit of actual usage and buyers with some long term vision. the chinese are degenerate gamblers with zero actual use for bitcoin.

[alyssa85]

it'll fall further and maybe all or most of the chinese exchanges will close their doors.

I guess it depends on how much they were making from margin lending. Looking at those trade volumes, they won't make the money up with trading fees, so there will likely be some mergers.

[Red-Apple]

it'll fall further and maybe all or most of the chinese exchanges will close their doors.

i seriously doubt it.
there is still a lot of bitcoins being traded on their website. according to the coinmarketcap okcoin for example has nearly 13 million dollars daily volume and 2x 0.2% of that means $52,000 pure earning daily or 1.5 million dollar earning in a month.
the cost of running an exchange is big because of their powerful servers but it is still tiny compared to the amount earned this way.

[BillyBobZorton]

it'll fall further and maybe all or most of the chinese exchanges will close their doors.

you can have a bitstamp or gemini with fees and no margin when there's a little bit of actual usage and buyers with some long term vision. the chinese are degenerate gamblers with zero actual use for bitcoin.

Well I know there are a lot of chinese people doing actual use of bitcoin (basically moving their money out of the country to not get it stolen from the ridiculous governmental inflation rates and other confiscation techniques) but yes, let's not get delusional here, tons of chinese people are gambling addicts that would never stop playing around with insane amounts of margin. Now they will look less threatening to the rest of the world. All that chinese volume was giving them a fake aura of superiority. Now we just need to come up with a way to out-compete them in mining.

[RyNinDaCleM]

This has been their real volume all along. It is old news that their reported volume was seriously inflated.

[davis196]

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

I`m wondering is there any way to proove that this information is legit?
Are there any exchange platforms that manipulate such trading volumes to make people think they are bigger?
Or maybe smaller?

[Catmony]

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

This is due to the fees those platform recently implemented and it also shows that what was the real trading volume of these chinese exchanges before. All those big number in trading volume were just result of fake orders made by them to lure more traders in their platform.

[JANGKRIK BOSS]

The China market is so amazing, passionate, one of the evidence that the use of the bitcoin in China are the largest in the world, so whatever happens in China will be against the price of the bitcoin globally.

[amacar2]

I guess it depends on how much they were making from margin lending. Looking at those trade volumes, they won't make the money up with trading fees, so there will likely be some mergers.

Yes it seems we will see some merger between atleast two trading platform, or they may increase trading fee to sustain their operation. They may not be able to earn enough to cover their running cost.

[jaberwock]

One might argue that people are being cautious until the "inspection" made by the People's Bank of China, and because we are almost in the chinese new year, so people just take some break from trading, and that the market is quite boring recently, so the volume will be lower overall

And if the volume doesn't drop to alarming low levels they will survive, the operational costs in China are lower

[serjent05]

One might argue that people are being cautious until the "inspection" made by the People's Bank of China, and because we are almost in the chinese new year, so people just take some break from trading, and that the market is quite boring recently, so the volume will be lower overall

And if the volume doesn't drop to alarming low levels they will survive, the operational costs in China are lower

Well no matter what they say about China's holiday is the reason why their volume gone lower, I think this stats clearly stated that China controlling Bitcoin is a fallacy.  Look at the distribution of trades now, A sudden change in graphical presentation after the tax implemenation.  And it looks almost evenly now.

[panju1]

One might argue that people are being cautious until the "inspection" made by the People's Bank of China, and because we are almost in the chinese new year, so people just take some break from trading, and that the market is quite boring recently, so the volume will be lower overall

And if the volume doesn't drop to alarming low levels they will survive, the operational costs in China are lower

Well no matter what they say about China's holiday is the reason why their volume gone lower, I think this stats clearly stated that China controlling Bitcoin is a fallacy.  Look at the distribution of trades now, A sudden change in graphical presentation after the tax implemenation.  And it looks almost evenly now.

The reason people say that China controls Bitcoin is because of the hashing power in China, not because of the trading volumes. In that respect, China is still way ahead and the taxes have had no impact whatsoever.

[talkbitcoin]

-snip-
I`m wondering is there any way to proove that this information is legit?
Are there any exchange platforms that manipulate such trading volumes to make people think they are bigger?
Or maybe smaller?

there are some ways to do some double checking for example but there is never going to be a way to make sure if this is all true or false. our only source is what the exchanges themselves report. it can be falsified too.
but you can check the number of users, the orderbooks and other things to see how they look to some extent.

[lumeire]

The question now is how much of that is true volume? We all know exchanges fluff this kind of data.

[cakravothy]

iam not understand what's happen about china exchanger, huobi, okcoin and more
ussualy volume transaction in huobi and okcoin until reach over one million bitcoin, today i can see in coinmarketcap only over 9000 bitcoin
what is problem china exchanger, all exchanger volume transaction is down grade until 99% is down volume transaction

[BitHodler]

iam not understand what's happen about china exchanger, huobi, okcoin and more
ussualy volume transaction in huobi and okcoin until reach over one million bitcoin, today i can see in coinmarketcap only over 9000 bitcoin
what is problem china exchanger, all exchanger volume transaction is down grade until 99% is down volume transaction

There is no problem with these Chinese exchanges anymore due to strict policies set up by PBOC recently.

I thought that their volumes would drop from a few million traded Bitcoins per day, to just a few hundred thousand, but that's not even close to the actual number of around ten thousand today.

To make these exchanges look even worse, Poloniex the altcoin exchange generated more volume today than Okcoin, Huobi and BtcChina together.

It means that we have been tricked into thinking that these exchanges were super large while they in reality don't seem to be any larger than Bitfinex, Bitstamp, and the list goes on. If you get surpassed by an altcoin exchange, then something is not right.

[darkangel11]

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

This is due to the fees those platform recently implemented and it also shows that what was the real trading volume of these chinese exchanges before. All those big number in trading volume were just result of fake orders made by them to lure more traders in their platform.

Not all the orders were "fake." When there were no fees people were making more transactions, because even a .5% move could equal profit. Day traders were playing the market, siphoning fractions of a coin with every closed position. Now fees have limited their movement, they can't blindly close position, but have to wait for a larger price move, which limits the volume.

[Febo]

this is an interesting turn of event from China to see how their ridiculously huge volume drop this much and go down to the level of the daily volume that western exchanges such Bitfinex have!

This is due to the fees those platform recently implemented and it also shows that what was the real trading volume of these chinese exchanges before. All those big number in trading volume were just result of fake orders made by them to lure more traders in their platform.

Not all the orders were "fake." When there were no fees people were making more transactions, because even a .5% move could equal profit. Day traders were playing the market, siphoning fractions of a coin with every closed position. Now fees have limited their movement, they can't blindly close position, but have to wait for a larger price move, which limits the volume.

Well that makes some sense. I had no ideas why they were doing this. So was just day traders making profit. And only way to make any profit was to mass trade.

[ImHash]

Were people that naive to believe their fake volume? or maybe their own people really are naive, because no matter what it was obvious from miles away, now how funny that is even though they faked the volume network didn't have issues regarding transactions