Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JorgeStolfi
on 14/08/2014, 14:55:24 UTC
Not really, huobi and okcoin have mostly fake volumes.
Prove it. 

Salesmen of bitcoin and bitcoin-based funds desperately need that claim to be believed.  No one would put their money into an asset whose value depends entirely on the mood of thousands of amateur Chinese speculators who have no use for it other than day-trading. 

Bitcoin media like Coindesk are supported by bitcoin funds and other enterprises, and therefore spread the view that those sources want to be spread -- including the view that Huobi and OKCoin are unimportant, and the price of bitcoin is determined by its "adoption" in the west.  Informing bitcoin traders about the true state of the market is not their goal.