qwerty555 (OP)
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November 02, 2013, 03:55:04 AM Last edit: November 02, 2013, 04:07:44 AM by qwerty555 |
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Big 3 volume is 15k so far today that is 32 to 1 ratio http://btckan.com/priceChBTC 1264.7 207.659 1264.7 207.659 1265 207.708 1255.8 206.197 1270 208.529 508062.96 0 /0.2 Dividend There appears to be a disconnect between blockchain stats and china market stats http://blockchain.info/statsCan anyone explain? Does blockchain not include China transactions?
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Jabbatheslutt
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November 02, 2013, 05:06:19 AM |
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Wow, I'm surprised this hasn't pushed the price through the roof yet.
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qwerty555 (OP)
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November 02, 2013, 05:22:51 AM |
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Wow, I'm surprised this hasn't pushed the price through the roof yet.
looks like a major transfer from 1 account/owner to another at an agreed price will account for much of the volume without a large price rise. My conclusion is someone has taken or has a pre existing substantial position. 500k coins = $100Million plus. Previous volumes were running at about 100k a day. Yesterday I saw 255k and today 500k so the large transaction could well be in the 250k range or a $50M holding/sale. otherwise it could be multiple buying and selling of small volumes for a quick profit. I would choose the 1st explanation ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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qwerty555 (OP)
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November 02, 2013, 06:10:44 AM |
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PS. they currently PAY YOU to trade as an incentive and give .2 dividend per coin (shares CHbtc I think) a 250K trade will cost nothing and you get 50K shares as a bonus as well. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Shallow
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November 02, 2013, 11:46:38 PM |
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Well once fees appear on chinese exchanges volume will drop.
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NewLiberty
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November 02, 2013, 11:49:50 PM |
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Perhaps they are paying out shares in the exchange to test the exchange, and waiving fees during the test. Not to be confused with live exchange data.
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dree12
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November 03, 2013, 12:14:20 AM |
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Something I've always found odd is that the English-speaking Bitcoin world has little communication with the Chinese-speaking Bitcoin world. Us English Bitcoiners always get news of important broadcasts in the PRC from a restricted set of users. Consequently, our information seems to be delayed a few hours. There seems to be a great wall between China and the rest of the world. These Chinese Bitcoin exchanges see almost no representation on leading chart websites on our side of the wall. Neither Bitcoincharts nor Bitcoinity even has a fraction of the exchanges listed! Chinese Bitcoiners have their own forums, where most Chinese-language discourse is hosted. Heck, they have their own Chinese-language Android app! Even on the ubiquitous Bitcoin site where all languages converge, the Chinese have built a wall. From a cursory glance into BitcoinTalk's Chinese-language subforum, most users posting there have little contact with the outside world. This starkly contrasts with most other language subfora, where users often post in the English-language subfora even if their English is mostly broken. Is there a particular reason for this barrier? Perhaps it is the innate nature of the Chinese to build a wall around them?
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vpitcher07
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November 03, 2013, 01:55:41 AM |
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Something I've always found odd is that the English-speaking Bitcoin world has little communication with the Chinese-speaking Bitcoin world. Us English Bitcoiners always get news of important broadcasts in the PRC from a restricted set of users. Consequently, our information seems to be delayed a few hours. There seems to be a great wall between China and the rest of the world. These Chinese Bitcoin exchanges see almost no representation on leading chart websites on our side of the wall. Neither Bitcoincharts nor Bitcoinity even has a fraction of the exchanges listed! Chinese Bitcoiners have their own forums, where most Chinese-language discourse is hosted. Heck, they have their own Chinese-language Android app! Even on the ubiquitous Bitcoin site where all languages converge, the Chinese have built a wall. From a cursory glance into BitcoinTalk's Chinese-language subforum, most users posting there have little contact with the outside world. This starkly contrasts with most other language subfora, where users often post in the English-language subfora even if their English is mostly broken. Is there a particular reason for this barrier? Perhaps it is the innate nature of the Chinese to build a wall around them? I think one thing we have to keep in mind about china is the fact that the country is still under the control of an oppressive authoritarian pseudo communist government. That's my reasoning for this barrier. It may not be directly from the government, but I think the government is what is ultimately affecting them.
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jl2012
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November 03, 2013, 02:32:16 AM |
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Big 3 volume is 15k so far today that is 32 to 1 ratio http://btckan.com/priceChBTC 1264.7 207.659 1264.7 207.659 1265 207.708 1255.8 206.197 1270 208.529 508062.96 0 /0.2 Dividend There appears to be a disconnect between blockchain stats and china market stats http://blockchain.info/statsCan anyone explain? Does blockchain not include China transactions? That's fake volume. People are selling into their own bid to obtain share of the exchange. If you see "Dividend" at the "Fee" column, the volume is unreliable.
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NewLiberty
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November 03, 2013, 02:39:52 AM |
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I think one thing we have to keep in mind about china is the fact that the country is still under the control of an oppressive authoritarian pseudo communist government. That's my reasoning for this barrier. It may not be directly from the government, but I think the government is what is ultimately affecting them.
I have deep sympathy for the Chinese people, they have a more difficult situation than we in this regard. Bitcoin brings them more freedom than most.
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Ford
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November 03, 2013, 05:05:50 AM |
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I think one thing we have to keep in mind about china is the fact that the country is still under the control of an oppressive authoritarian pseudo communist government. That's my reasoning for this barrier. It may not be directly from the government, but I think the government is what is ultimately affecting them.
I have deep sympathy for the Chinese people, they have a more difficult situation than we in this regard. Bitcoin brings them more freedom than most. they may be "under the control of an oppressive authoritarian pseudo communist government" but other than the name, i see very little difference with any countries government. They all act in their own interests, although i would say China's gov do seem to act more for the people than some democratic governments do..... we should not be so fast to judge, their way seems to be doing much better than our way at present.....
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CIYAM
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November 03, 2013, 05:12:46 AM |
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You know that in China you can:
- buy SIM cards with no ID - pay cash for anything (even for properties) - drink alcohol in the street (and buy it from nearly any small store)
it's not really the place that at lot of westerners imagine it is at all (and I should know - I've lived here for 7 years).
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Ford
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November 03, 2013, 05:19:45 AM |
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You know that in China you can:
- buy SIM cards with no ID - pay cash for anything (even for properties) - drink alcohol in the street (and buy it from nearly any small store)
it's not really the place that at lot of westerners imagine it is at all (and I should know - I've lived here for 7 years).
i do like the sounds of China (not for the reasons that you mentions). China seems to have "gone through lots of shit but come out the other side smelling of roses" whether the people of the west like it or not, China is the future!
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NewLiberty
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November 03, 2013, 05:35:05 AM |
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I think one thing we have to keep in mind about china is the fact that the country is still under the control of an oppressive authoritarian pseudo communist government. That's my reasoning for this barrier. It may not be directly from the government, but I think the government is what is ultimately affecting them.
I have deep sympathy for the Chinese people, they have a more difficult situation than we in this regard. Bitcoin brings them more freedom than most. they may be "under the control of an oppressive authoritarian pseudo communist government" but other than the name, i see very little difference with any countries government. They all act in their own interests, although i would say China's gov do seem to act more for the people than some democratic governments do..... we should not be so fast to judge, their way seems to be doing much better than our way at present..... It is not from Judgement... The sympathy comes from a different sort of "oppression" probably better characterized as "guidance". ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) The restraints on investment, procreation and the centralization of broad planning do not make for optimal use of the great minds of the decisionmaking among the broad population. The resulting over-investment in property development and pending demographic challenges of the coming decade portend a real estate bubble that is going to be a formidable challenge. It is further perpetuated by the local government's funding needs against the interests of the central plan. Bitcoin provides an option for them that is more needed than most any other place, and the vast wealth of their nation may make for some exuberant overconfidence in the matter. It is a big challenge, and I hope they are up to it. Hopefully they have learned the lesson of the US example in this regard. The USA did much the same, on a numerically larger scale, but proportionately smaller. It is interesting times ahead.
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CIYAM
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November 03, 2013, 05:37:59 AM |
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whether the people of the west like it or not, China is the future!
It certainly is "the" place for seeing development occur - in Beijing alone new subway lines have been opened every year for the last 6 years. Unfortunately if you are after clean air though then I wouldn't suggest living in any major city in China.
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qwerty555 (OP)
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November 03, 2013, 07:38:57 AM |
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Interestingly they don't list ChBTC which is the market leader and has 6 to 20 times the daily volume of BTCChINA this last week.
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Bitcoinpro
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November 03, 2013, 07:46:59 AM |
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Interestingly they don't list ChBTC which is the market leader and has 6 to 20 times the daily volume of BTCChINA this last week. i could list numerous reasons why this might be so ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Bitcoinpro
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November 03, 2013, 07:52:29 AM |
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what happens when the amount of coin traded on these exchanges ends up being more than the amount of coin in circulation
gonna be a few pennies dropping i rekon
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