Boxman90 (OP)
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November 19, 2013, 04:18:19 AM |
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More and more am I starting to believe that BTCChina is (for a large part) fake. - Their volume reports are ridiculous. On the 3 minute chart they have almost exclusively 300 btc per candlestick. - The whole rise-up at BTC-China seems orchestrated. Every sharp rise is nicely crafted into a short dip which then recovers in order to make others believe that it's safe to buy And most compellingly - During the crash the volume stays _THE SAME_ throughout. There is a sharp drop, but no panic selling at all! The volume is constant. This does not make any sense to me. - Notice how every downward candle towards is also attempted to be caugt immediately - many many intermittent recoveries during a crash. It just doesn't make sense. - I think we all agree that the price movements at BTCChina have been absolutely ridiculous. It's almost as if the whole exchange is scripted to make fake orders to amplify any movements seen on Gox. Zero trading fees would allow this. What would they benefit from this?Manipulation. This whole rally is based upon "China is going crazy, we must buy asap!". Knowing that the bitcoin world classifies exchanges by price and volume, you can manipulate the entire market by gaining the highest price and the highest volume. This does not mean the trades have to be legitimate as well, as long as the data you're outputting is somewhat believable. The rally on china seemed so ridiculous, that I'd be inclined to think that BTCChina's CEO has some big money at the other exchanges, trading it for high prices as he indirectly has control over the market. Added facts:- Nobody seems to be able to access btcchina.com, yet trades are still being executed (do reply if you can reach and deposit BTC) - During the 7-8 hour Gox trading engine lag, BTCChina ground to a halt as well while BTC-e and Bitstamp continued to have organic trades (though lower average volume). - Look at this recent crash graph from BTCChina (linked from another topic). It does not look organic, yet highly artificial. Please discuss Also, === I'm merely speculating ==
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LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
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wobber
Legendary
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Activity: 1064
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November 19, 2013, 04:21:22 AM |
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Chinese always used things in other ways than intended. See gunpowder for example, they were using it for fireworks until the rest of the world started to use it for guns. LOL
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If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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bassclef
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November 19, 2013, 04:23:35 AM |
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When you post a picture of the 1 minute chart, yeah things might look a little off.
Also the rally/slight dip pattern you're seeing is normal... called a bear trap. On the way down it's a bull trap.
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adamstgBit
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Trusted Bitcoiner
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November 19, 2013, 04:24:36 AM |
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bears will stop at nothing these days
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Boxman90 (OP)
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November 19, 2013, 04:26:09 AM |
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When you post a picture of the 1 minute chart, yeah things might look a little off.
Also the rally/slight dip pattern you're seeing is normal... called a bear trap. On the way down it's a bull trap.
The point I wanted to make is that stock exchanges never make perfect semicircles. If you watch the same periods at BTC-e and Bitstamp for example, the pattern is way more frizzly, more noisy. This one is just perfectly orchestrated. Now i know Chinese have a-diciprine and all, but this just does not look human/organic.
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LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
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Nemesis
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November 19, 2013, 04:26:33 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time.
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oakpacific
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November 19, 2013, 04:30:32 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time. Also, there is not just BTCChina in China, there are several sites with similar volume.
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antoineph
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November 19, 2013, 04:36:34 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time. Also, there is not just BTCChina in China, there are several sites with similar volume. Why aren't they on bitcoincharts?
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sedric398
Member
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Merit: 10
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November 19, 2013, 04:39:37 AM |
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Stop spreading your FUD everywhere. There might be some powerful speculators there, but accusing the CEO of market manipulation is really stupid.
btcchina will probably keep their place as the biggest exchange for a while, they also got 5 million usd in funding recently.
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Nemesis
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November 19, 2013, 04:41:56 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time. Also, there is not just BTCChina in China, there are several sites with similar volume. Why aren't they on bitcoincharts? is this a serious question? wow.....
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mb300sd
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Drunk Posts
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November 19, 2013, 04:55:58 AM |
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With no fees, the algorithms used in bots will tend towards smooth curves.
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1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
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oakpacific
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November 19, 2013, 05:00:34 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time. Also, there is not just BTCChina in China, there are several sites with similar volume. Why aren't they on bitcoincharts? Maybe because, they don't care enough to provide data to a site that their customers never used?
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BittBurger
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November 19, 2013, 05:02:47 AM |
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The point I wanted to make is that stock exchanges never make perfect semicircles. This isn't a stock exchange. Bitcoin is not a stock. Stop trying to make it conform to stock rules, trends, and predictions. All you stock guys do the same nonsense. You come here, you lecture everyone on how stocks behave, you imply that everyone here's an idiot, you make ridiculous claims, absurd predictions, you declare crashes are on the way, and none of you have ever been correct, even once. Please stick to what you know. Trading stocks. Stop wracking your brain over Bitcoin. This is something completely new. You are not an expert on this. Nobody is.
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pera
Sr. Member
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バカ
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November 19, 2013, 05:08:23 AM |
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maybe (just maybe) those gaps, clippings and "perfect semicircles" were caused by bots... maybe the whole bubble is being caused by bots, specially when there is no fee who knows! but anyway, if OP really believes the price is being manipulated you may buy and make some profits, right? forget morality!
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キタ━━━━(゚∀゚)━━━━ッ!!
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jatajuta
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November 19, 2013, 05:09:03 AM |
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This isn't a stock exchange. Bitcoin is not a stock. Stop trying to make it conform to stock rules, trends, and predictions.
All you stock guys do the same nonsense. You come here, you lecture everyone on how stocks behave, you imply that everyone here's an idiot, you make ridiculous claims, absurd predictions, you declare crashes are on the way, and none of you have ever been correct, even once.
Please stick to what you know. Trading stocks. Stop wracking your brain over Bitcoin. This is something completely new. You are not an expert on this. Nobody is.
+1
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antoineph
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November 19, 2013, 05:13:46 AM |
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bears will stop at nothing these days
and they rely on third party site to make their theories. I was able to connect to btcchina the whole time. Also, there is not just BTCChina in China, there are several sites with similar volume. Why aren't they on bitcoincharts? is this a serious question? wow..... don't be facetious, please enlighten the unenlightened.
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2dogs
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November 19, 2013, 05:41:58 AM |
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What?? The Chinese are capable of lying, cheating and/or stealing?
Anyone who has dealt with the Chinese, knows.
Thank you, Boxman90, for reminding us who we are dealing with....
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RenegadeMind
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November 19, 2013, 05:47:48 AM |
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- Nobody seems to be able to access btcchina.com, yet trades are still being executed (do reply if you can reach and deposit BTC)
I trade on BCT China. No problems there. I am not in China and am not a Chinese citizen. I can deposit, trade, and withdraw. No problems. From my own experience with them, they have superb customer service. I think you're seeing things that aren't there.
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RenegadeMind
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November 19, 2013, 05:50:42 AM |
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What?? The Chinese are capable of lying, cheating and/or stealing?
Funny. I've had the same problems dealing with people in other places of the world as well. They didn't appear to be Chinese... Maybe they had plastic surgery? Meh... who knows?
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