BTC100 CNY exchange reports 80,000btc 24hr volume

[jwzguy]

Either they are lying or something massive just happened: https://btc100.org/

Can any Chinese speakers check out their site and see what's going on? Do they have a lot of market depth? This is a fairly fast change from 1-2K volume last week.

If they are reporting false volume, it should be obvious to people trading there.

Edit: 99,000

[marcovaldo]

Where do you see it?
I do not speak chinese, but maybe they counted more exchangers this week

[jwzguy]

I'm not sure if this page is using their API, but this column of http://btckan.com/price: 24小时成交量 is 24hr BTC volume. That's also on their front page. Now ~90,000BTC.

[derpinheimer]

Well its certainly not the correct 24hr BTC volume, but whether fake, an error, or we just dont know what it says... not sure.

[TERA]

Maybe it's actually CNY volume,  or some reporting of aggregate BTC volume accross all markets?

[jwzguy]

Well its certainly not the correct 24hr BTC volume, but whether fake, an error, or we just dont know what it says... not sure.

Just because it's an aberration doesn't mean it's not the correct volume. But it's definitely an aberration. Wish my Chinese friends were online.

[keewee]

mBTC?

[Odalv]

Well its certainly not the correct 24hr BTC volume, but whether fake, an error, or we just dont know what it says... not sure.

Just because it's an aberration doesn't mean it's not the correct volume. But it's definitely an aberration. Wish my Chinese friends were online.

It is deep night in China and someone is trading 100k BTC / hour  :-). Sounds  legit.

[derpinheimer]

Well, I dont know what everything says, but it is "24 Hour Volume"
From left to right:
: Highest Bid
: Lowest Ask
: Daily High
: Daily Low
: 24 hour volume

Just in the time i've watched it the price has gone from 750 to 757... okay, thats not much

mBTC seems like a good idea as to what it might be.

[jwzguy]

Well, I dont know what everything says, but it is "24 Hour Volume"
From left to right:
: Highest Bid
: Lowest Ask
: Daily High
: Daily Low
: 24 hour volume

Just in the time i've watched it the price has gone from 750 to 757... okay, thats not much

mBTC seems like a good idea as to what it might be.

Why would they suddenly switch from reporting BTC to mBTC?

[derpinheimer]

Well, I dont know what everything says, but it is "24 Hour Volume"
From left to right:
: Highest Bid
: Lowest Ask
: Daily High
: Daily Low
: 24 hour volume

Just in the time i've watched it the price has gone from 750 to 757... okay, thats not much

mBTC seems like a good idea as to what it might be.

Why would they suddenly switch from reporting BTC to mBTC?

How on earth would 90k BTC volume have no major impact on price? Its still ~$120 USD

Its nonsense. Interesting catch, but its very unlikely to be as it seems.

BTW, 9/26: Internal reform. I cant get it all translated but im trying.

[TERA]

What is the normal volume of this exchange? I'm guessing it's something less than 1000BTC. So how could something that does a tiny volume suddenly do 80,000BTC volume? I would think it to be technically impossible. There simply wouldn't be the liquidity, deposit/withdraw processing, exchange engine, order book depth, etc to do it. I mean I could see it maybe GROWING to that amount over a month or so, but not overnight.

[jwzguy]

I agree that it's extremely unlikely that it's legitimate volume. I would be surprised if that was the reason, though. Their volume is normally much higher than 80BTC. they were doing 2-3k pretty regularly.

[jwzguy]

What is the normal volume of this exchange? I'm guessing it's something less than 1000BTC. So how could something that does a tiny volume suddenly do 80,000BTC volume? I would think it to be technically impossible. There simply wouldn't be the liquidity, deposit/withdraw processing, exchange engine, order book depth, etc to do it. I mean I could see it maybe GROWING to that amount over a month or so, but not overnight.

Yesterday they were at 10k, but for the last few weeks, the average was about 2-3, sometimes 4k.

And I agree, it's extremely strange and the explanation probably isn't "normal growth." That's why I posted it.

[Spekulatius]

Are there any charts for this marketplace?

[bobdude17]

Are there any charts for this marketplace?

http://btckan.com/price

[derpinheimer]

Are there any charts for this marketplace?

http://btckan.com/price

What in the hell 

Pushing new daily highs as well. 

[Spekulatius]

Are there any charts for this marketplace?

http://btckan.com/price

OK, looks more and more like a bug:

It says in the 24hr rows: High 764.5 Low 747.1 Last 760 RNM
http://btckan.com/price

[jwzguy]

It absolutely looks like a bug, that's why I posted. It's very strange. I wish I could see the depth chart for this market.

[Choroid Plexus]

I PM'ed user BTC100 (pretty sure this is the official Bitcointalk account for BTC100, after browsing through the 中文 section of this site) on whether that volume number is real or not. Hopefully they reply back soon (it is like 8AM in the middle kingdom right now).