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1/3rd of all bitcoin in existence traded this week in China on one exchange

1/3rd of all bitcoin in existence traded this week in China on one exchange






Oh??? maybe some coins were traded twice....
Go figure. Isn't that called the velocity of money?
high trading bots are working hard this days
I was merely attempting to make the point that in and of itself, the mere fact that the volume of 1/3 of all bitcoins in existence were traded on one exchange in one day, does NOT signify that the Chinese are faking the existence of the coins or engaging in fractional reserves.
So I agree with you that it is feasible that one coin could be traded well over 100 times in one day... maybe even 1,000 if there are NO trading fees and the coins path is frequent and minute microtrading back and forth.
I had the OKcoin chart running in real time in my browser, and the trades were so fast that there was almost smoke coming out of my computer after a few minutes! Loading a real time chart of any of the exchanges with fees doesn't drive my computer's CPU use up to that extent. Those OKcoin trades are their own bots competing with the other zero fee exchange's bots to fake the highest volume.