brg444
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October 31, 2015, 01:17:17 PM |
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Does someone know what means that volume on huobi on bitcoinwisdom? It shows unreal data like trade 1000s btc per minute and millions per week.
fake '0-fees' volume? gee, it completely outperform the volume from the 2013 bubble, i got 3,7+ million spike on the weekly chart
or do they have some sorta HFT going on there maybe? To be fair I don't believe they were much of a thing back then. Volume over there certainly rises an eyebrow. We're used to say the volume on Chinese exchanges is fake but what could generate so much "fake" volume is a good question...
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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sinner
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October 31, 2015, 01:17:55 PM |
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master, do you trade things other than bitcoin? does your system of analysis (primarily elliott wave?) work for other assets? how did you educate yourself on trading?
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wpalczynski
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October 31, 2015, 01:19:13 PM |
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Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?
Seems to be true. The question is what does that mean? MOON?
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nioc
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October 31, 2015, 01:21:41 PM |
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master, do you trade things other than bitcoin? does your system of analysis (primarily elliott wave?) work for other assets? how did you educate yourself on trading?
I am dedicated to bitcoin. Bitcoin changed my life. No other assets.
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sinner
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October 31, 2015, 01:24:19 PM |
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Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?
its been posted on here or reddit that those are fake numbers cuz no commission trading so people buy/sell to themselves to create fake volume/pump
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Pierre 2
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October 31, 2015, 01:26:11 PM |
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So you think this will end as small bubble to return around $270s in mid-week? I actually think same (if you think like that) there is still no big reason for huge trend.
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bri912678
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October 31, 2015, 01:42:38 PM |
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Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?
its been posted on here or reddit that those are fake numbers cuz no commission trading so people buy/sell to themselves to create fake volume/pump There were reddit threads about fake Huobi and okcoin trades since 2014. I quoted one comment that compares them to mtgox. There was a reddit thread by an ex-okcoin employee who said they run their own bots to manipulate both volume and price. Those exchanges deny it but I don't believe them, they fake their volume. https://www.reddit.com/r/BitcoinMarkets/comments/1ub0f0/convince_me_why_huobicom_stats_are_not_fakehttps://www.reddit.com/r/BitcoinMarkets/comments/2alcze/imo_okcoin_and_huobi_are_not_100_legit/For me it is pretty obvious and easy to spot that at least in OKcoin and btc-e there are malicious bots doing tiny trades to manipulate the price, it either creates a fake pump or a fake dump, exactly like mtgox used to do.
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tarmi
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October 31, 2015, 01:42:45 PM |
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it must be true if it is on the tape.
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masterluc (OP)
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October 31, 2015, 01:48:34 PM |
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I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina https://youtu.be/7GFA5R6qksoBTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY. https://youtu.be/hW3i2FKt3Wg
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brg444
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October 31, 2015, 01:56:54 PM |
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Gotta pay for them christmas presents
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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wpalczynski
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October 31, 2015, 02:01:44 PM |
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not good.. withdrawals usually are "paused" when ponzi scam is finished
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deeltje
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October 31, 2015, 02:16:06 PM |
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One guy (probably from MMM) explaining to another guy (doesn't sound like he knows how to handle a computer, he hardly knows how to make a screenshot) how to transfer BTC's into MMM, the guy transfered almost all of his 10 BTC's to MMM (he had 10 he transfered 2x 4.6BTC) and at the end the MMM guy told him that he still owned MMM another 460,- usd worth of BTC to complete his entrance to MMM. Not a very interesting video ... but great find nonetheless.
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masterluc (OP)
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October 31, 2015, 02:18:39 PM |
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Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin (converted to usd, balances are in usd).
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wpalczynski
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October 31, 2015, 02:20:18 PM |
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Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin.
Many people are speculating that this crazy rise in price we had last week was fueled by BTC purchases for the MMM ponzi scheme
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brg444
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October 31, 2015, 02:35:44 PM |
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Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin.
Many people are speculating that this crazy rise in price we had last week was fueled by BTC purchases for the MMM ponzi scheme IMO the buying action is not representative of individual purchases, even from an organized scheme. Seems evident numerous trading bots are involved which does not fit with the picture some are trying to paint regarding MMM.
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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masterluc (OP)
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October 31, 2015, 02:37:30 PM |
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IMO the buying action is not representative of individual purchases, even from an organized scheme.
I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget.
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brg444
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October 31, 2015, 02:43:22 PM |
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IMO the buying action is not representative of individual purchases, even from an organized scheme.
I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget. I do know who the guy is. What I'm saying is if we are to believe that individuals are participating in his ponzi by funding their "account" using Bitcoin purchased from BTC exchanges this, IMO, does not correspond to the action we are seeing on Huobi & OKCoin where seemingly numerous buying bots are involved. Unless we are suggesting Mavrodi is purposedly gaming the Bitcoin market while running the ponzi in question it seems to me there is more to the story and the volume we are seeing in China.
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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jehst
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October 31, 2015, 03:00:36 PM |
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IMO the buying action is not representative of individual purchases, even from an organized scheme.
I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget. I do know who the guy is. What I'm saying is if we are to believe that individuals are participating in his ponzi by funding their "account" using Bitcoin purchased from BTC exchanges this, IMO, does not correspond to the action we are seeing on Huobi & OKCoin where seemingly numerous buying bots are involved. Unless we are suggesting Mavrodi is purposedly gaming the Bitcoin market while running the ponzi in question it seems to me there is more to the story and the volume we are seeing in China. The bots were there before this ponzi and will be there after the ponzi collapses. The bots are a separate issue. What people are theorizing is that it's the MMM people who are fueling the trend (up). The bots just follow the trend.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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ssmc2
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October 31, 2015, 03:01:49 PM |
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Much conspiracy. Such theory.
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Check-0
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October 31, 2015, 03:15:38 PM |
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IMO the buying action is not representative of individual purchases, even from an organized scheme.
I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget. Masterluc sounds like he was never involved in MMM himself
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He иcкyшaй мeня, ибo нeoбyздaн я в жeлaнияx cвoиx... Xoчeшь я взopвy вce звeзды и Зaвтpa нe нacтyпит никoгдa..?
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