Quote from: S4VV4S on September 05, 2015, 02:26:43 PM

Quote from: RealBitcoin on September 05, 2015, 02:19:46 PM

Quote from: manselr on September 05, 2015, 02:12:45 PM

Quote from: RealBitcoin on September 05, 2015, 12:55:30 PM

Quote from: S4VV4S on September 04, 2015, 09:19:38 AM

You mean something like http://fiatleak.com

Is fiatleak only counting the buy orders? Or the net change in realtime?

Because if it counts only buy orders then it sucks, because the same amount of sell orders happen too (thats why the price doesnt change), so its very misleading.

I've posted this before and got told once that that website is not very accurate and was somewhat "rigged". Could someone explain exactly why fiatleak.com is not legitimate? i've tried to find a good explanation for this but I can't find anything convincing, it seems pretty legit to me, its just taking data from the exchanges right?

I didnt said that its not legitimate, i said it's misleading.

Becuase it only counts BUY orders, but not SELL orders.

If one guy buy 1 BTC, but then sells it at other price, then the net change is +0 BTC, but this site shows it as +1.

If the BTC buy orders would grow by that much, then the price would move up too. The only reason why BTC price is not growing is because the same amount gets bid up than asked down.

I am a little confused.
When a person does a BUY order that means another person made a SELL order.
Counting both as different would probably be misleading and false, not?
....
....
So counting only BUY orders should be correct, right?

All buy orders are sell orders too obviously. There are 2 sides, 1 guy buys another sells.

But what I mean, and this is how the market mechanism moves the price, is that if a BUY order happens, then the ASK's get hit and if the quantity is bigger than the available supply at that price level then the price moves up to the next ASK.

That site only counts in BUY orders, as when a guy puts a BID at the same price as the available ASK, however if he sells it back at the same ASK level, another guy will buy it via BID, thus 2 buys happened for 1 BTC, but the price stayed exactly the same.

It is funny because if the demand is not rising, and only a few speculators swap BTC, you can have 1 million BTC buys show up on that site and the price doesnt necessarly have to move a muscle.

So that information is totally useless.