I have to say that number is higher than I expected. 50, 60% sure but 80% is almost all of it.
A lot of NXT goes to the Chinese as well. What can you say, other than that they love to speculate on new cryptocurrencies
A lot of NXT goes to the Chinese as well. What can you say, other than that they love to speculate on new cryptocurrencies
That's just 80% for the Yaun-BTSx. They take up another 18% or so with BTC trades (which fair enough some of those people could be American or European).
The biggest non-Chinese exchange only does like 1% of overall volume being Poloniex.
So yeah 80% - 99% of buyers are Chinese
I'm European and I rarely trade at Poloniex but rather often on BTER and BTC38, not 元 though. I have a background in East Asia but I know countless Westeners who trade at BTER for instance.
Yuan is 80% of the volume. Are you suggesting nobody has BTC in China? If that much Yuan is going into it then it's safe to say almost all that BTC is Chinese as well due to demand. Sure there's no restriction on who can use the Chinese exchanges but the demand indicates it's primarily people in China driving the speculation buy.
This is echoing Bitcoin where the Chinese came rushing in all at once throwing in huge sums. A lot of that money came from funds and margin trading. What was the end result? An epic pump to $1200 and then a slow crash down to $500.
It seems like the Chinese are starting to learn about alternates and are pulling the same trick with BitsharesX. Who pumps $2 million into a coin overnight before bitAsset even comes online? That's the same pump technique that people were using when targeting Doge for several months and maybe that explained NXT's pump back in May-June.
You really think it's everybody in Shanghai and their Grandmother buying BitsharesX? Probably not, this is a pump likely being done by a few private funds and other organized groups.
$500 is still 50x more than $10, the price Bitcoin was at before Chinese money came into the scene en masse.