Post
Topic
Board Bitcoin Discussion
Re: Value vs. utility
by
franky1
on 12/01/2017, 12:12:00 UTC
How do you know that fore sure? There are many exchanges, and in the chinese exchanges, there are mostly chinese people trading.
Looking at the volume of 1,609,323.75 BTC daily, I hardly doubt those are all bots.
Who the heck would do 1000 trades / day? Even if you run a bot that is absurd.
Maybe there are a handful of market maker bots, but the rest are just probably young chinese guys trading 1-10 BTC with their savings.
The chinese are known to be big gamblers, and they also spend a lot of tech items, so its easy to assume that there are probably tens of thousands of chinese trading 1-10 btc.

did you look at the trade history image.. right column.. trades under 1btc...
they are not large 1000btc trades per hit..

as for 10's of thousands of chinese trading.......... well thats still not 1.3billion.. so lets not continue the endless racism of thinking "china"(whole country) own/control bitcoin

when we all know its only a small percentage playing with small amounts repeatedly.

i would cry wolf only if you see trade history results of 10-1000btc+ every few minutes.
these small 0.xbtc orders happening is not "china (the country) own bitcoin"