On: Bitcoin crosses $10B market cap again

[davidgerard]

There is question as to whether this is even real, or just Willybotted up. This article is from March, but it hasn't stopped: http://www.bitcoinfuturesguide.com/bitcoin-blog/reminder-chi...

What happens if you try to cash in at these prices? There's no actual demand, so the price flash-crashes: http://qntra.net/2016/06/mere-265-bitcoin-sell-causes-flashc...

[dwaltrip → davidgerard]

OKcoin is not the only exchange... Yes, you can't trust many of the Chinese exchanges. But there are 10s of thousands of bitcoins being traded daily on many different (non-Chinese) exchanges that don't fake their volume.

Coinbase, Bitstamp, and Kraken, three of the more reputable USD exchanges, have had a combined volume of over 30k BTC alone in the past 24 hours. http://bitcoinity.org/markets/list?currency=USD&span=24h.

[bencxr → davidgerard]

it wouldn't be a flash crash if there was no demand. it would be a crash. the flash crash happened because there was insufficient liquidity on one exchange - as soon as the market sought to fill the gaps, it went right back up.