Fake Transactions at Bitcoin Exchanges

[aardvark15]

It occurs commonly in chinese exchanges.They generate fake buy and sell orders to show increased trade volume.Chinese exchanges always try to dump the bitcoin price whereas other exchanges try to show bitcoin price as increased.

Which exchanges are Chinese exchanges? I have used several different exchanges and I had never heard that they padded their volume, although I know some are dishonest.

[1713555685]

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[1713555685]

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[1713555685]

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[BrewMaster]

It occurs commonly in chinese exchanges.They generate fake buy and sell orders to show increased trade volume.Chinese exchanges always try to dump the bitcoin price whereas other exchanges try to show bitcoin price as increased.

Which exchanges are Chinese exchanges? I have used several different exchanges and I had never heard that they padded their volume, although I know some are dishonest.

since you don't know then you probably have never used them ever before. the exchanges that have Yuan or CNY markets listed in their platform are Chinese.
and the biggest one that i know of is OKCoin and according to bitcoinwisdom.com there is also BTCCChina and their volume used to be ridiculously high.

if you search you will surely find topics about this from that time.

[aardvark15]

It occurs commonly in chinese exchanges.They generate fake buy and sell orders to show increased trade volume.Chinese exchanges always try to dump the bitcoin price whereas other exchanges try to show bitcoin price as increased.

Which exchanges are Chinese exchanges? I have used several different exchanges and I had never heard that they padded their volume, although I know some are dishonest.

since you don't know then you probably have never used them ever before. the exchanges that have Yuan or CNY markets listed in their platform are Chinese.
and the biggest one that i know of is OKCoin and according to bitcoinwisdom.com there is also BTCCChina and their volume used to be ridiculously high.

if you search you will surely find topics about this from that time.

I've never used those. I've used BTC-e which I think is Bulgarian, Poloniex, and Cryptsy. Of course Cryptsy was a scam and shut down with some of my coins.

[user27]

It occurs commonly in chinese exchanges.They generate fake buy and sell orders to show increased trade volume.Chinese exchanges always try to dump the bitcoin price whereas other exchanges try to show bitcoin price as increased.

OKCoin and Huobi do have pretty exaggerated figures at times that they look artificial and faked. However there is no proof to back them up at this point in time.

I doubt that we will ever find any proof of them either faking volumes or not faking volumes because they are the operators of the site and they are able to provide any information whether false or true to the public, meaning that we can’t accurate decide.

But considering that the chinese government is putting on more restrictions, and keeping an eye actively on these trading places, i would say that there is less chance of volume faking happening.

[xypos]

you may be seeing transaction volume as a metric when choosing bitcoin exchanges. But bitcoin insiders reveal that it is an open secret that exchanges generate fake transactions to make themselves look better.
this could be devastating for bitcoin newbies like me. Normally, there are three ways to do so.
Read more about this story at:
http://news.8btc.com/threes-ways-to-generate-fake-transactions-at-bitcoin-exchanges

Interesting article, personally i do believe that at least one of these Chinese exchanges has been involved in the act of volume fixing in the past, simply because there is really no way that one single exchange is able to get 1 million + coins which is basically the entire amount of bitcoins satoshi has got.

But right now the Chinese government is intervening.

This means that the volumes will be down, and therefore there will probably be no volume fixing from now on.