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Author Topic: Chinese exchange volume higher than Mtgox  (Read 3051 times)
knight22
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October 12, 2013, 03:09:52 AM
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Is that already happened before?
Mtgox is now third one in terms of volume, seems less relevant than ever...
And china's market seems to be in pretty good shape


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zoinky
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October 12, 2013, 03:26:52 AM
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http://btckan.com/price shows more Chinese markets that aren't on Bitcoincharts.
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October 12, 2013, 03:29:52 AM
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http://btckan.com/price shows more Chinese markets that aren't on Bitcoincharts.

Thanks I didn't know that. Seems stronger than I thought!

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October 12, 2013, 03:35:39 AM
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Is that already happened before?

I think yes because i can remember similar posts

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October 12, 2013, 04:09:21 AM
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http://btckan.com/price shows more Chinese markets that aren't on Bitcoincharts.

Are we sure that these are legitimate exchanges and listed volumes?  Curious why they wouldn't be on Bitcoincharts..
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October 12, 2013, 04:45:17 AM
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So according to this site here the total volume of all Chinese exchanges:  31488 BTC
Total volume on USD exchanges rough estimate: 20300 BTC
Compared, Canadian market seems like a joke  Undecided: 435 BTC

I never thought that the Chinese market was the strongest one...

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October 12, 2013, 04:47:06 AM
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Sü why are BTC in China not trading for a BIG Premium?
SheHadMANHands
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October 12, 2013, 04:51:23 AM
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So according to this site here the total volume of all Chinese exchanges:  31488 BTC
Total volume on USD exchanges rough estimate: 20300 BTC
Compared, Canadian market seems like a joke  Undecided: 435 BTC

I never thought that the Chinese market was the strongest one...

I thought I read somewhere that btcchina was the only real legit Chinese exchange, and that others were reporting false or unverifiable stats.  Can't recall where though...
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October 12, 2013, 04:54:34 AM
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knight22
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October 12, 2013, 05:05:18 AM
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I don't understand why you think it's legit



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October 12, 2013, 05:10:02 AM
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I think he's joking.  If those are volume numbers, the left one is pretty clearly not legit.
theonewhowaskazu
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October 12, 2013, 05:17:02 AM
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It makes logical sense that Chinese exchanges would have high volume. Their currency is even more fake than the USD.

joesmoe2012
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October 12, 2013, 05:18:31 AM
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They also have 0% fees on alot of their exchanges, bots are going crazy.

Is the volume in that screenshot in CNY perhaps?

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October 12, 2013, 05:21:30 AM
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So this site is not reputable? http://btckan.com/price

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October 12, 2013, 05:22:19 AM
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So this site is not reputable? http://btckan.com/price

I'm not sure that it's the site that's not reputable or that the exchanges in question isn't actually misreporting the information.

Also, I'm not sure we are correctly reading it.


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October 12, 2013, 06:48:56 AM
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So this site is not reputable? http://btckan.com/price

I'm not sure that it's the site that's not reputable or that the exchanges in question isn't actually misreporting the information.

Also, I'm not sure we are correctly reading it.



Correct.

It COULD be CNY volume on BTC100, but that would be abysmal volume there, then. Less than the depth could support, for sure. But that depth isnt doing 7k a day, let alone the 100k it claims now and then.
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October 12, 2013, 09:59:56 AM
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Looks like a combination of things, Gox's volume is dropping, Stamps is increasing (along with BTCChina).
Actually, volume lately seems a bit low anyway. Silk Road related?

Keep an eye on things here: http://bitcoincharts.com/markets/

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BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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October 12, 2013, 10:41:24 AM
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Looks like a combination of things, Gox's volume is dropping, Stamps is increasing (along with BTCChina).
Actually, volume lately seems a bit low anyway. Silk Road related?

Keep an eye on things here: http://bitcoincharts.com/markets/

IAS

Volume just seems low because of the decentralisation process of exchanges, I think the market has to get used to less average volume per exchange. If you combine the volume of all exchanges it's not that bad, about 70-80k BTC have trades hands globally during the last 24h on the exchanges. Volatility is also low so you naturally have lower volume during those times. Once the market picks up a real trend up or down volume will skyrocket.

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October 12, 2013, 10:48:41 AM
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Looks like a combination of things, Gox's volume is dropping, Stamps is increasing (along with BTCChina).
Actually, volume lately seems a bit low anyway. Silk Road related?

Keep an eye on things here: http://bitcoincharts.com/markets/

IAS

Volume just seems low because of the decentralisation process of exchanges, I think the market has to get used to less average volume per exchange. If you combine the volume of all exchanges it's not that bad, about 70-80k BTC have trades hands globally during the last 24h on the exchanges. Volatility is also low so you naturally have lower volume during those times. Once the market picks up a real trend up or down volume will skyrocket.

That is actually a great point and I should have considered that. Are there any totals as I didn't see where to get your figure of 70-80k?

Considering, we are witnessing a healthy redistribution of the exchanges. Would be nice to see a summary based on country. Anywhere? (Currency would do the same as many exchanges use dollars.)

IAS

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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October 12, 2013, 12:40:56 PM
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 Grin

https://www.youtube.com/watch?v=_NK1HC9nvwg&t=14m30s
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