Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients. Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... that makes perfect sense

Roll Eyes

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck' Grin

Exchange volume is anaemic (excluding these wash trades) ... has been for months, and continues to be ...
Masterluc's 'Silent Phase' ...
Unfortunately this does not attract more 'hot' money, so numbers are being fudged ... Occam's Razor