Randomness from a chinese.

[BittBurger]

This is why nobody of us talk and explain to anybody else. People thinks that we have some particular interests in talking.
To who says that chinese people it's really about BTC and continuing to buy (even without me )

this is BTC China https://vip.btcchina.com
And I am one of the most rated users as you can check. Btw I'm sorry about my opinion on NXT really If i knew that before I would never talk about it.

Don't let the idiots discourage you.  I understood your post, and when I first read it, it had nothing about NXT.

People are stupid.  They will get hung up on one sentence and ignore the rest.

I think since you are there in China, interacting with chinese, and more importantly - you're reading the chinese forums and absorbing the words and events directly from the chinese:  You know a hell of a lot more about whats going on in China than we do.

Thank you for taking the time to try and clarify what you feel is really going on there.  Sorry everyone here is being stupid.  

What i gleaned most from your post:  China is out.  This gives me reassurance because the BTC price is self sustained now, and apparently, the Jan 31 deadline for China to get out, isn't going to be necessary.  And we wont "necessarily" have a continued decline in value as the Chinese "continue to pull out".

-B-

[dan123]

Please list 100 phone numbers so I can call them and ask.

[Michael Robinson]

Haha, this entire post was just plug for some type of altcoin.  He had me going right until the end too.  Wow, shameless.

[Kaliber1]

...
Chinese people has been described as crazy investors, crazy traders, everything crazy.
But the reality is that chinese people are really careful in investments and this means something that probably only a few people knows. The 75% of all the mining activity it's here.
What does that means? Everybody told us that chinese invest invest invest.

No, only a few people invest, and the majority of them it's already gone and actually BTC as itself really didn't  China datas(also because at this point of the story it's hard to see anything cos they hide all the details about their losses).

...

The ONLY real company is BTC CHINA. The CEO is litecoin's founder brother, it's a forward-thinking guy for sure.
All the other exchange are personal people that open a bank account and try to obey the law doing some little thing.

...

EDIT: I removed the NXT opinion because everybody thinks that 3 lines in a topic is important to push people to buy some coins.

1. Yes, just watching the data at BTCChina was enough to prove that Chinese are more cautious and less greedy. Also, since I translated the "bad news" out of China through an actual service, not google or reddit, I knew the market reaction wasn't initiated by the Chinese (this was ALSO evident from exchange data), because the news wasn't bad. It grew progressively more strict, but not much more than the US FinCEN's apparent position in March. Perhaps less so. At least China gave specific direction. FinCEN was vague, as if they were trying to leave ways for users to get screwed by them later, when they clarify their position.

Additionally, volatility analysis shows much more "signal" and far less "noise" in BTCChina trade patterns. This is evidence of Western greed and shortsightedness and emotional trades, while China (despite the "source" of bad news) traded logically. You don't need to be an applied math major to see this: just go to the 1hr chart or so, on bitcoinwisdom, and compare the 2 or 3 week periods starting before Thanksgiving. The candles are not anywhere near as thick in either direction of overall movement. Thus, the Chinese (despite great volume and zero fees at the time, which should have encouraged even less thought in trading), at least those investing in Bitcoin, are considerably wiser traders than their counterparts in the rest of the exchanges.

This depresses me, but then given our placement in math and science and other scholastic achievement measures, I can't say I'm surprised that overall, China is a better fit with Bitcoin, both in trading and in ability to understand it in the first place.

2. Yes. Any insight into OKCoin's impossible (??) trade volume? Or is it legit because of the ability to arbitrage using LTC? BTC-e is the top in volume (normalized to BTC) followed by OKCoin, so perhaps it is legitimate?

3. Don't worry, people are testy about alt-coins. I'm not sure about NXT, but the trio of BTC, LTC, and PPC are all in my mind probably pretty permanent in the sector. Competition is good, and not for a warm, fuzzy reason but genuinely because there is extensive math I could whip out (having spent days on it) that shows having at least two, preferably several (subject to the usual law of diminishing returns) solid, differentiated (scrypt / PoW+PoS hybrid / etc.) near-frictionless transparent-chain cryptos is necessary for the market to thrive. Contrary to belief, BTC is worth more, and safer, as a system because LTC exists. PPC, as the 3rd, not as influential but still. Garbage alt-coins (devcoin etc) do weaken the ecosystem somewhat, but not extensively.

Cheers, and keep mining and investing. Don't sweat what "people" think. The market thinks what the math says. Eventually the people will follow, whether they know why or not.

Thanks for this I really enjoyed your reply, my article was written more with my stomach than with the mind linked to my hands. Your reply is much clear and push it forward I hope Everybody will read it carefully.

Thanks also to BittBurger it wasn't really my purpose to let people buy anything for real haha.

But now after the first sentences about I was a NXT PR, I'm BTC C PR haha. Why people cannot read?

[Doublelucky]

Can somebody translate this into English?

[Phinnaeus Gage]

Please list 100 phone numbers so I can call them and ask.

You just want to add them to your ~500 Hashfast emails.  

[Doublelucky]

This guy is just a chinese version of a btc-e trollbox kid, except his poor grammar is actually helping his credibility, and making people think twice

[Trance]

Hi there,
somebody might already know me because of my first introduction in this forum one week ago.

I'm a chinese citizen and I feel strange to read all this news about China, India, Russia, Bulgaria, Slovenia from people that lives in other countries.
I think if people really needs to know something about a country should go there and check or at least talk with a chinese, indian, russian or whoever.

So, here I can tell you my point of view from my window in one of the biggest chinese cities (I wouldn't tell you which one but you can easily guess).

Chinese people has been described as crazy investors, crazy traders, everything crazy.
But the reality is that chinese people are really careful in investments and this means something that probably only a few people knows. The 75% of all the mining activity it's here.
What does that means? Everybody told us that chinese invest invest invest.

No, only a few people invest, and the majority of them it's already gone and actually BTC as itself really didn't care too much about it cos the price is now stable between 700-750.

So what actually happened when there was the biggest bubble in BTC? Chinese investor arrived?
No.

It's the overall people mentality that make that bubble. Like all the other bubble like if today I tell you that my compound friend is buying some scamcoin in particular. I know that for many people it's still hard to think that this market can be real, can be solid and can go far because it's not BTC it's the crypto-coins idea that is strong enough.

Only a few people looked at the BTC China datas(also because at this point of the story it's hard to see anything cos they hide all the details about their losses).

But I can tell you the ones I clearly remember and know.
One month ago BTC China was the biggest Exchange in the world with around 130.000 BTC nobody still seen today how many are the BTCs that they owns. ฿3,456.67 this is the number today.

So to whom still saying china this, china that this is the reality. China is out.
Now many people will come and say yes but you have other big exchange like fxbtc bla bla bla.

The ONLY real company is BTC CHINA. The CEO is litecoin's founder brother, it's a forward-thinking guy for sure.
All the other exchange are personal people that open a bank account and try to obey the law doing some little thing.


So to close this argument (I already know that will never be closed because people thinks that will gain money to invent some good lies about me and my country) the only thing you should care about us is that tons of people is mining BTC in particular. AVALON ASICs are best seller here and even parents of little child do the mining for fun.
This is the real problem, my country is a country that moves like sheep group so if one starts all the other will follow, and after they realise that trading it's dangerous everybody said mining is not. (Even if the investment today it's ridiculous because the difficulty two weeks ago was 900.000 and now is 1.100.000 ahah)


I hope that I made a clear enough description for whom it's really interested in. I also know that many people will say yes, it's ok but you don't have to say the reality cos this market is good just because people is ignorant. Yes.


EDIT: I removed the NXT opinion because everybody thinks that 3 lines in a topic is important to push people to buy some coins.

Great information and you're providing a lot of enlightenment for many on the forums! thank you for your contributions to the international community.

[FenixRD]

Thanks for this I really enjoyed your reply, my article was written more with my stomach than with the mind linked to my hands. Your reply is much clear and push it forward I hope Everybody will read it carefully.

...

I hope so too, but I doubt it. My reply was long and requires critical thought to understand. More likely, they will single out something (either something irrelevant, or something which looks bad when taken out of context), as you've seen. It's the same tactic for avoiding actual debate that has dictated most recent elections. Philosophically, I think it's used in place of shouting, in places where shouting is either impossible or not permitted. The effect is the same, anyway: Actual debate is impossible because the few who would debate cannot easily have it amid the noise, so the discussion is suppressed.

...
Thanks also to BittBurger it wasn't really my purpose to let people buy anything for real haha.

But now after the first sentences about I was a NXT PR, I'm BTC C PR haha. Why people cannot read?

Because our reading comprehension / literacy scores are just as miserable as our math and science scores.

More diplomatically, there are other factors. I'm just a simple Texan, but I spent several years living in Japan, my wife is Japanese, and my work as an engineer puts me alongside many who speak english second (or third), and Chinese in particular. Without realizing it, it's probably much easier for me to understand your writing. Even if you had not said you were Chinese, the "accent" of your English clearly is. Everyone's native language affects the way they synthesize their n+1 languages to some degree, and with rare exception, you can usually hear ("hear") this, many times even in writing.

I wouldn't think this should be as difficult as it plainly must be. You say "Your reply is much clear and push it forward I hope Everybody will read it carefully." Despite that being incorrect in several grammatical ways, I can still infer 90% of what you meant, and then proceed with the 10% using an educated guess based on context.

It's like error-correcting code. Again, as an engineer, my field deals with ECC and FEC (forward error-correction, meaning the bits to fix things are interleaved before the data bits they fix, so you can repair errors on-the-fly) in particular. I've always found the parallels to language interpretation fascinating. I have some ideas for using context and syntax for creating a translator that essentially does what my brain does, but I'm sure Google will make such a thing long before I ever could...

[The 4ner]

I've read your piece twice and I'm trying hard but .... I don't see the main point you are trying to make. Can you summarise a a bullet list?

Yeah, I can summarize the whole thing.  This guy thinks NXT is better than bitcoin and he thinks he knows what every single person in China is thinking.

He clearly stated that it was his point of view! Why would you accuse him of claiming to represent all of China? You're ridiculous!  

[gollor2000]

chinese the best !!

[FenixRD]

...

continuing my last reply's train of thought...

More depressingly, this also probably means that the general population of the US is still even more brainwashed into blind distrust of Asians (they tend to get lumped into one group and called Chinese) than I thought, at the end of 2013. I've seen a lot of progress on the other side (Chinese attitude toward the US, and also Japan and S. Korea since there's some pretty big historical tension there), from my interactions, just in the last few years.

Depends on the person and who they trust I guess... if you trust the government, one side thinks we need ever-more-military because if we shrink it, Chinese are just waiting for the chance to parachute in and take over. The other side thinks we need the equivalent of internet military, and that the government should be in charge of everything including water and gasoline etc, because the Chinese are just waiting for the chance to hack and disable our electrical grid (and I guess presumably also parachute in and take over).

chinese the best !!

What he is saying is: "we china so mysterious, you westerns don't understand us, we smart we mining, you got us wrong, buy buy buy"

Can somebody translate this into English?

How strange you won't even say what city you live in? But then you will give out lots of phone numbers of people? Sure they will thank you for that

I'll leave this one alone, mark it down as "lost in translation"

Differences in cultural norms, and inability to reason one as a probable cause, is one thing (the last quote above, for example, where empoweoqwj's unawareness of QQ and social norms is used as logical evidence you are untrustworthy). But as for the rest... Kinda surprised to see this much directed xenophobia on a Bitcoin forum.

Not only is it ironic given the intent of Bitcoin (destroy the biggest remaining barrier to intercultural and international relationships), but we owe the newly-clarified legal status of Bitcoin in the US to exactly 1 part Winklevoss-backed remedial education to key Senators and players pre-hearing; and 1 part national security interests (with the October announcement by China's Finance Ministry about ending bond purchasing and Chinese interest in Bitcoin, it very well looked to the Senate like we might be getting left behind as the economy went more digital).

[undeadbitcoiner]

Hello Chinese Guy
You have a good post but something you post without some analysis
You are 1 guys and may you have 100 friends and those hundred friends of friends some you may know them, but dont forget China contains 1.35 B people and Every people have different thinking and different planning. You told if one Chinese start then everyone will do the same if that happened then Bitcoin price could reach 50K and been down to 200$ again please note that.
Next point you told only miners are trading you mean Miners are selling there Bitcoins and No one is buying? How is this possible one is selling and no one is buying? Another thing if you actually noticed Bitcoin price it depends on Volume when Volume goes up price goes up so to pull price of course buyer volume must go up so if every miners are selling coins and no buyers is going to invest then of course selling volume must blast and price must goes down but look at the price its tightlt stabled in 5-7 hundred what is the meaning that now there is no any option to crash the price of Bitcoin less then 500$.

Thank you for some information, something are helpfull but most are not and please dont try to lead 1.35 B people let me tell you my own experience while i was in Macao i hace a lot of friends who even dont know the next places of there own country how much we foreigner know, they dont know what is happening in other states so analyse something.
Good Luck

[gregnie]

Their are 7 exchanges that more than 2000 BTC volumn per day in China.

the volums of these 7 exchanges in the past 24 hours:
btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC

btcchina.com is the largest one in the past, but not now.

And Btcchina is the worst exchange i have ever used, they don't reply your emails, nobody pickup the phone calls, and you have to wait at least two days to withdraw your CNY ; but with other exchanges , you can usually get your money within one day even within a few minutes.

The truth is the OP is full of bullshit , i feel ashamed that you said you are Chinese and you are telling the truth in the subject.

[chonce]

btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC


ADD  this two
MTGOX        9,597 BTC
BITSTMAP   8,654 BTC


So you will find 80% BTC trading is still in China

[undeadbitcoiner]

Their are 7 exchanges that more than 2000 BTC volumn per day in China.

the volums of these 7 exchanges in the past 24 hours:
btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC

btcchina.com is the largest one in the past, but not now.

And Btcchina is the worst exchange i have ever used, they don't reply your emails, nobody pickup the phone calls, and you have to wait at least two days to withdraw your CNY ; but with other exchanges , you can usually get your money within one day even within a few minutes.

The truth is the OP is full of bullshit , i feel ashamed that you said you are Chinese and you are telling the truth in the subject.

+1
There are 7 Exchanges , BTCChina was and now Huobi is, everyone have chance and everyone have different strategy and planning for there Business to grow. Before MtGox was in tot now Huobi is trying to come on top. China is still trading good OP please wash your mind and clean your eyes and look,
As i posted in my last post you cant speak for all Chinese People this is prove that different you and other chinese, You think BTCChina is only exchange in China and in the same place which you told house hold and family business type is now going to be Worlds Highest Traded Volume.

[stompix]

I stopped reading at :

The 75% of all the mining activity it's here.
What does that means? Everybody told us that chinese invest invest invest.

Oh really!
And about the exchange volume , it has been already discussed and proven how it was manipulated.

[stompix]

Their are 7 exchanges that more than 2000 BTC volumn per day in China.

the volums of these 7 exchanges in the past 24 hours:
btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC

btcchina.com is the largest one in the past, but not now.

And Btcchina is the worst exchange i have ever used, they don't reply your emails, nobody pickup the phone calls, and you have to wait at least two days to withdraw your CNY ; but with other exchanges , you can usually get your money within one day even within a few minutes.

The truth is the OP is full of bullshit , i feel ashamed that you said you are Chinese and you are telling the truth in the subject.

+1
There are 7 Exchanges , BTCChina was and now Huobi is, everyone have chance and everyone have different strategy and planning for there Business to grow. Before MtGox was in tot now Huobi is trying to come on top. China is still trading good OP please wash your mind and clean your eyes and look,
As i posted in my last post you cant speak for all Chinese People this is prove that different you and other chinese, You think BTCChina is only exchange in China and in the same place which you told house hold and family business type is now going to be Worlds Highest Traded Volume.

Check their order book.
They have 500 coins on the +/- 50% range and they are making 20000 BTC trade per day?

[Lethn]

Mtgox used to be one of the only exchanges for Bitcoin back in the day and that problem was fixed.

[Kaliber1]

Their are 7 exchanges that more than 2000 BTC volumn per day in China.

the volums of these 7 exchanges in the past 24 hours:
btcchina.com 2925 BTC
btctrade.com 8988 BTC
chbtc.com    17510 BTC
fxbtc.com  22336 BTC
huobi.com  64078 BTC
okcoin.com 5441 BTC
btc100.org 3110 BTC

btcchina.com is the largest one in the past, but not now.

And Btcchina is the worst exchange i have ever used, they don't reply your emails, nobody pickup the phone calls, and you have to wait at least two days to withdraw your CNY ; but with other exchanges , you can usually get your money within one day even within a few minutes.

The truth is the OP is full of bullshit , i feel ashamed that you said you are Chinese and you are telling the truth in the subject.

+1
There are 7 Exchanges , BTCChina was and now Huobi is, everyone have chance and everyone have different strategy and planning for there Business to grow. Before MtGox was in tot now Huobi is trying to come on top. China is still trading good OP please wash your mind and clean your eyes and look,
As i posted in my last post you cant speak for all Chinese People this is prove that different you and other chinese, You think BTCChina is only exchange in China and in the same place which you told house hold and family business type is now going to be Worlds Highest Traded Volume.

The point is everybody here think my topic owns a one-only real purpose, but it's really not like this.
For example I never said that BTC C was a good website, I just said, to whom still doesn't realise let's forget about that exchange because it was so big that now it's under the supervision of the government.

I liked your reply because it's straight to the point, and yes I forgot to say that huobi now increase its transactions a lot. BUT all the other exchanges are not real companies, for example the biggest one you listed is a normal 1985 guy living in 金山区 (Jinshan) which is really not far from me, he is just a normal guy buying and selling ASIC on taobao like many others.

Why I tell you this? To let you do something? To think that my opinion is the only one? Absolutely not. I'm just showing you my point of view.
I know that seems to be unbelievable that all this big trend about China in fact is just some random normal people doing it because many others did it before.

I don't understand the second part of your post anyway, the one about "Worlds Highest Traded Volume".

I REPEAT FOR THE LAST TIME: This is a no special purpose topic, it's just a little point of view probably just of the people around me. And to me I'm just a normal man trading and mining both activity living a happy life.

Thanks everybody involved in the discussion.