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Author Topic: Bobby Lee claims Chinese exchanges are faking volumes and trades.  (Read 1131 times)
yomofo
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January 28, 2014, 12:32:56 PM
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http://www.reddit.com/r/BTCmarketsCirclejerk/comments/1wd6kq/bobby_lee_claims_chinese_exchanges_are_faking/

Bobby Lee, CEO of BTC China, said:
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“We’ve known for a while that other Chinese bitcoin exchanges have been faking data. We’ve seen our trading volumes drop off heavily while others have, supposedly, witnessed massive surges.”

http://www.weibo.com/2677915943/AtcIFprg9









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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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eiskalt
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January 28, 2014, 12:56:18 PM
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goxxed huobi style
MatTheCat
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January 28, 2014, 01:18:48 PM
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Front running happens on all exchanges!

The upper echelons of Bitcoin is infested with snakes, sharks, and general crookedness.

Front running in association with bot microtransactions. Best of luck competing at getting in or out against that when the momentum is going against your position.

The 'volume' data on Huobi won't be fake as such, but rather represent coins being passed between favoured accounts in a second tier (or top tier rather) market that normal Joes don't get access to, but tends to drive the price all the same.

I know. I see 'competitors' bids getting filled in front of mine all the time when they really shouldn't be.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
GigaCoin
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January 28, 2014, 03:59:32 PM
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yes i've been reading on this, i've been suspecting this. No wonder we never had a proper correction or proper recovery, it's all fake.

MatTheCat
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January 28, 2014, 04:47:19 PM
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yes i've been reading on this, i've been suspecting this. No wonder we never had a proper correction or proper recovery, it's all fake.

Not entirely.

Real people are gaining and real people are losing from this.

'Rigged' through the medium of smoke and mirrors would be a more appropriate way to describe than fake. If I trade BTC between my own accounts and ensure that nobody else can get in on my action, but I can get in on theirs, then that aint fake. That is cheating.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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January 28, 2014, 05:24:52 PM
 #6

Yeah I've had instances where I set a buy price that was hit but my trade never went through. Something fishy is going on Angry

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