Hey China, where is all the volume gone? by chitty

View this thread on steempeak.com
bitcoin · @chitty · (edited)
$0.63
Hey China, where is all the volume gone?
Today, the 24th of January, at 12:00 Beijing time, all major Chinese exchanges have started charging 0,2% trading fee. 

​![](https://s3.amazonaws.com/img.steemconnect.com/chitty/e2a23468.jpg)

As a result, most of the volume from OkCoin has disappeared. A similar scenario can be seen on Huobi exchange. 

On the one hand, many bitcoiners are content that the “fake” volume is gone; traders can no longer sell or buy to themselves without getting charged, which means that it is a lot more expensive to try to manipulate the markets. On the other, less volatility could mean less interest from traders.

I believe China will continue to dominate the market, since they have most of the mining farms and even though the volume will fall, it will still represent the largest portion of bitcoin daily trading. 

## I would like to read your opinions on this matter, is the elimination of “fake” volume from china good, bad or is it indifferent?

____

p.s: I created this post using #busy and I must say I am impressed by their editor and the overall look of the website. 

@chitty
[Witness Proposal & Information](https://steemfund.github.io/pages/witness.html)​
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 47 others
👎  
properties (23)
post_id1,826,114
authorchitty
permlinkhey-china-where-is-all-the-volume-gone
categorybitcoin
json_metadata"{"format": "markdown", "links": ["https://steemfund.github.io/pages/witness.html"], "tags": ["bitcoin", "trading", "china", "busy"], "app": "steemit/0.1", "users": ["chitty"], "image": ["https://s3.amazonaws.com/img.steemconnect.com/chitty/e2a23468.jpg"]}"
created2017-01-24 16:09:18
last_update2017-01-24 16:17:48
depth0
children5
net_rshares7,951,476,296,220
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.546 SBD
curator_payout_value0.079 SBD
pending_payout_value0.000 SBD
promoted0.674 SBD
body_length1,161
author_reputation84,463,031,858,396
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (112)
@godlike · 
http://orig12.deviantart.net/c351/f/2016/065/e/f/crash_bandicoot__the_wrath_of_cortex___steam_grid_by_massimomoretti-d9u7i1k.png
properties (22)
post_id1,826,153
authorgodlike
permlinkre-hey-china-where-is-all-the-volume-gone-20170124t161516
categorybitcoin
json_metadata{}
created2017-01-24 16:15:33
last_update2017-01-24 16:15:33
depth1
children0
net_rshares0
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length128
author_reputation-812,830,516,164
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@team101 · 
It would surely be nice to know what the reality is.
properties (22)
post_id1,826,237
authorteam101
permlinkre-chitty-hey-china-where-is-all-the-volume-gone-20170124t162613797z
categorybitcoin
json_metadata"{"app": "steemit/0.1", "tags": ["bitcoin"]}"
created2017-01-24 16:26:18
last_update2017-01-24 16:26:18
depth1
children0
net_rshares0
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length52
author_reputation12,239,897,411,079
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@etcmike · 
From what I heard today, the volume has shifted to Japan.

Check out this post:
https://steemit.com/bitcoin/@marketingmonk/zero-fee-bitcoin-trading-moves-from-china-to-the-uk-what-are-the-implications-the-cryptoverse-193
properties (22)
post_id1,826,373
authoretcmike
permlinkre-chitty-hey-china-where-is-all-the-volume-gone-20170124t164412349z
categorybitcoin
json_metadata"{"app": "steemit/0.1", "links": ["https://steemit.com/bitcoin/@marketingmonk/zero-fee-bitcoin-trading-moves-from-china-to-the-uk-what-are-the-implications-the-cryptoverse-193"], "tags": ["bitcoin"]}"
created2017-01-24 16:44:09
last_update2017-01-24 16:44:09
depth1
children0
net_rshares0
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length220
author_reputation524,807,460,249,773
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@lukestokes · 
I've read somewhere that the Chinese love super volatile stuff. If that's the case, will this lower demand for bitcoin? I think that's possible. Maybe they'll come and trade on the internal STEEM market instead. We still have no fees. :)
👍  , , , , ,
properties (23)
post_id1,826,375
authorlukestokes
permlinkre-chitty-hey-china-where-is-all-the-volume-gone-20170124t164432624z
categorybitcoin
json_metadata"{"app": "steemit/0.1", "tags": ["bitcoin"]}"
created2017-01-24 16:44:30
last_update2017-01-24 16:44:30
depth1
children0
net_rshares10,900,435,876
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length237
author_reputation395,063,281,398,324
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (6)
@screenname ·
Re: Hey China, where is all the volume gone?
<p>This post has been ranked within the top 50 most undervalued posts in the second half of Jan 24. We estimate that this post is undervalued by $9.26 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jan-24---part-ii">The Daily Tribune: Jan 24 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
👍  
properties (23)
post_id1,829,843
authorscreenname
permlinkre-hey-china-where-is-all-the-volume-gone-20170125t011345
categorybitcoin
json_metadata"{"replyto": "@chitty/hey-china-where-is-all-the-volume-gone"}"
created2017-01-25 01:13:45
last_update2017-01-25 01:13:45
depth1
children0
net_rshares578,712,226
last_payout2017-02-24 16:53:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length765
author_reputation46,297,288,412,649
root_title"Hey China, where is all the volume gone?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)
Help/Feedback