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Author Topic: This page shows that RMB accounts for 55% of all BTC transaction volume  (Read 1578 times)
goldlyre
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October 11, 2013, 06:48:33 AM
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This page shows that RMB accounts for 55% of all BTC transaction volume in the last 24 hours. Please have a look...

http://btckan.com/price
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goldlyre
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October 11, 2013, 06:50:57 AM
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The Column "24小时成交量" means Transaction Volume in Last 24 Hours.

Is it a totally new trend?
Kluge
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October 11, 2013, 07:01:36 AM
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Interesting. Those numbers appear correct. I'd used http://bitcoincharts.com/charts/volumepie/ - but if you check it against exchange data, it's completely wrong, and CNY/RMB markets are much, much stronger than suggested (CNY/RMB BTC exchange has been very strong for a good while - but I'd never heard anyone note it consuming the majority of transactions worldwide).

ETA: Pinged BTCCharts guy - says there's a discrepancy because BTCCharts uses 30D volume instead of 24H volume.
papamoi
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October 11, 2013, 07:01:49 AM
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hi

do you want to say that bitcoin in rmb is the new trend?

meaning there is more btc against rmb than usd?
goldlyre
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October 11, 2013, 07:21:08 AM
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Moreover, more than half those RMB-based BTC exchanges take no exchange fee. They Serve for People selflessly. 
Kluge
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October 11, 2013, 07:23:46 AM
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Moreover, more than half those RMB-based BTC exchanges take no exchange fee. They Serve for People selflessly. 
Or they just push the fees from transactions to withdrawals to increase liquidity. Wink
papamoi
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October 11, 2013, 07:25:58 AM
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Moreover, more than half those RMB-based BTC exchanges take no exchange fee. They Serve for People selflessly. 
Or they just push the fees from transactions to withdrawals to increase liquidity. Wink

don t you think there is other way for them to earn on this?
goldlyre
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October 11, 2013, 07:38:33 AM
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Moreover, more than half those RMB-based BTC exchanges take no exchange fee. They Serve for People selflessly. 
Or they just push the fees from transactions to withdrawals to increase liquidity. Wink
No, they don't. They do not charge any cash-withdrawl fee.
Naruto.me
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October 11, 2013, 11:45:19 AM
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maybe double counting (someone buy 1BTC and someone sell 1BTC count 2BTC in their web) I guess
leemar
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October 11, 2013, 12:59:15 PM
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Anyone any knowledge/anecdotes of these facilities being used for remittance from other nations?
kokojie
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October 11, 2013, 05:55:55 PM
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Moreover, more than half those RMB-based BTC exchanges take no exchange fee. They Serve for People selflessly. 
Or they just push the fees from transactions to withdrawals to increase liquidity. Wink

don t you think there is other way for them to earn on this?

Sure, nearly all forex trading has no fee too, they make money on spread.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
Spekulatius
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October 11, 2013, 07:19:15 PM
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I wonder why the RNB to BTC price is not blown out of proportion against other currency pairs like USD/BTC then? There must be quite a good way to do arbitrage or this equilibrium could not persist.
illpoet
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October 11, 2013, 07:29:40 PM
 #13

why are people trading their right mouse buttons for bitcoin? i have a few icould part with if anyones interested send a pm

Tym's Get Rich Slow scheme: plse send .00001 to
btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt
thank you.
wickedgoodtrader
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October 11, 2013, 07:31:45 PM
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They could easily be making trades up amongst themselves to appear to have large volume and bring in business.
Seth Otterstad
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October 12, 2013, 06:12:55 PM
 #15

I have been following this for a while, and RMB volume has been generally close to or higher than USD for about 3 weeks, except for the 2 days around the SR takedown.

Seth Otterstad's Blog          @SethOtterstad on twitter          Seth on google+
polarhei
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October 13, 2013, 01:35:00 PM
 #16

hi

do you want to say that bitcoin in rmb is the new trend?

meaning there is more btc against rmb than usd?

Bitcoin is designed as Do no Evil. If do evil with, then you will be dead. People use Bitcoin to ensure you cannot do bad with it.
cowandtea
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October 13, 2013, 02:11:59 PM
 #17

Nice, china is taking over and fast..

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