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Topic: US freaks out on MT. Gox meanwhile China hoards all the coins.... (Read 4544 times)

rhyso (OP)

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US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:35:13 AM

So I just read a tweet from max keiser;

"Chinese buying 500 BTC/minute: http://fiatleak.com/ "

https://twitter.com/maxkeiser/statuses/438222566764056576

I looked at fiat leak and in the last 10 minutes 3300 BTC flew into china while only 22 into the united states...

http://fiatleak.com/

I wonder what sort of affect this might have with china's Bullrush while the rest of the world look like bears in hybernation cowering in the cold?

thoughts?

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crazy_rabbit

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:42:26 AM

Whoa, it's true. I just Checked it out China is vacuuming up all the BTC. Almost like it was on a 75% discount........ :-)

more or less retired.

weryo

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:45:10 AM

Maybe because most people in the US are sleeping now, while China is awake.

rhyso (OP)

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:46:56 AM

Quote from: weryo on February 25, 2014, 08:45:10 AM

Maybe because most people in the US are sleeping now, while China is awake.

yeah I saw that but since when do crypto geeks sleep?

lol

I very much doubt there will be even 1/10th of that volume happening in the US... lets see...

10100BTC in 30 mins... Shocked

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ljudotina

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:47:26 AM

Yeah...China is pwning some serious ammounts...3 minutes 1000 btc...

https://www.bitcoin-hrvatska.com/forum

keithers

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:48:47 AM

Quote from: rhyso on February 25, 2014, 08:35:13 AM

I was just saying this on another thread. Everyone was distracted by the 2k btc dumps on stamp, while huobi had much more volume than stamp during the same hour.

kuroman

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:53:40 AM

lol china raping bitcoin, it's like chrismas for the chinese, 1k btc a min lol! wth

MrPiggles

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:58:33 AM

how is that map made? it shows zero trade anywhere but china

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kolev

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 08:59:43 AM

Quote from: rhyso on February 25, 2014, 08:35:13 AM

Not really. The news always is like 12 hours behind there. I'm not sure if it's the Great Firewall of China or whatever, but they always react to big news with some serious delay.

Bitrated user: nikolay.

kuroman

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:03:44 AM

#10

Quote from: MrPiggles on February 25, 2014, 08:58:33 AM

how is that map made? it shows zero trade anywhere but china

It shows very small trades on other countries if you look at it for a long time, but China is buying hard right now, if you check exchanges you can see that it's not wrong, Huobi volume is insane

Mowcore

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:06:30 AM

#11

Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.

Edit: China's busting bitcoin ghosts! I knew it, this is a tribute to Harold Ramis!

✰Humble Weekly Bundle.✰Pay What You Want. Redeem on Steam. Support charity. Pay with ~~BTCitcoin now!~~✰--> Paypal

Swordsoffreedom

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:08:37 AM

#12

Quote from: rhyso on February 25, 2014, 08:35:13 AM

I'm watching this vacumn and thinking Oh boy this is going to be a long night

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kuroman

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:10:01 AM

#13

Quote from: Mowcore on February 25, 2014, 09:06:30 AM

Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.

In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol

mitzie

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:13:29 AM

#14

How could that be possible? There are many other exchanges that operate..

Swordsoffreedom

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:13:37 AM

#15

Quote from: kuroman on February 25, 2014, 09:10:01 AM

Quote from: Mowcore on February 25, 2014, 09:06:30 AM

Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.

In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol

Funny thing is that its supposed to be tightly regulated so this is even stronger than usual

http://bitlegal.net/nation/CN.php

Quote from: mitzie on February 25, 2014, 09:13:29 AM

How could that be possible? There are many other exchanges that operate..

China has the largest exchange by volume its greater than Mtgox which is why it can be a vacuum cleaner

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MrPiggles

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:16:12 AM

#16

That map doesn't show anything happening on bitstamp whilst they report volume in excess of 100k and you can watch their live order book, dozens of trades of 10+ bitcoins happening as we speak.

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Swordsoffreedom

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:18:36 AM

#17

Quote from: MrPiggles on February 25, 2014, 09:16:12 AM

That map doesn't show anything happening on bitstamp whilst they report volume in excess of 100k and you can watch their live order book, dozens of trades of 10+ bitcoins happening as we speak.

Data from MT.GOX, BITSTAMP, BTCChina, BTC-E, Bit2c, Mercado Bitcoin BR, Local Bitcoins, OKCoin, BTCTrade, Huobi China, bitx.co.za, Cavirtex

Bitstamp is on the list so that is strange

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picobit

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:20:03 AM

#18

How can anybody see to which country BTC are being sold? This makes no sense. At the most, they can trace the activity on various exchanges, you might as well argue that this is panic SELLING on the chinese exchanges. Every time 1 BTC is bought, 1 BTC is sold (except for 25 BTC every 10 min, of course).

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:20:34 AM

#19

Quote from: kuroman on February 25, 2014, 09:10:01 AM

Quote from: Mowcore on February 25, 2014, 09:06:30 AM

Wow, that's insane. China's just sucking it all in, like a big fuck off vacuum cleaner.

In the last 15min, China brought about 6k BTC, 38BTC were brought by the US and 2.5B in EUR lol

There was a significant fee reduction on BTC China, good move by their management to keep trading going, the market liquid, so we are less likely to see huge price swings as GOX mess unwinds...

http://www.coindesk.com/btc-china-lowers-trading-fees-01/

miketonic

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Re: US freaks out on MT. Gox meanwhile China hoards all the coins....

February 25, 2014, 09:21:41 AM

#20

China seems to be hoarding everything but FIAT

I believe it has also purchased a lot of gold lately.. They seem to have an opinion about FIAT currencies and how thing will play out in the future.

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