
Watch the world currencies flow into BTC in realtime - rock57
http://fiatleak.com/
======
gogeek
The idea is nice, but this thing is a complete nonsense. The required
information to create such a map is simply not available.

Some are wondering about the lack of activity in certain regions: There is
trading activity in these areas.

Disclaimer: Former exchange operator

~~~
drcode
> The required information to create such a map is simply not available.

All the major cryptocurrency exchanges have open APIs that offer access to
completed USD/BTC exchanges- Of course there's gaps in the information, why
would anyone expect otherwise?

~~~
mrb
What gogeek means is that this site pretends to show what countries Bitcoin
buyers are located, but we simply don't know that. For example if GDAX's API
shows a BTC purchase in USD, this site will show the buyer as being in the
USA, in reality the buyer could be in any of the numerous countries where the
exchange operates
([https://support.gdax.com/customer/en/portal/articles/2425188...](https://support.gdax.com/customer/en/portal/articles/2425188-which-
countries-and-states-can-access-gdax-))

~~~
anamexis
I don't think that is the premise of this, though - it's not showing where the
purchasers are located, but what currency is being traded.

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amelius
Nothing happening in the Eurozone? or Japan?

~~~
rock57
It seems that (for obvious reasons!) the bulk of the action is happening in US
and China. However, I am also surprised that currently transaction volume in
currencies of Brazil or Russia exceeds those in Euro or Yen...

~~~
ufo
The bubble is strong here in Brazil. I've recently had lots of nontechnical
acquaintances talking about bitcoin these last months.

~~~
paulpauper
People also talk a lot about amazon, Facebook, and google. Doesn't make it a
bubble.

~~~
rock57
JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely
fashion after a shoeshine boy gave him some stock tips. He figured that when
the shoeshine boys have tips, the market is too popular for its own good, a
theory also advanced by Bernard Baruch, another vested interest who described
the scene before the big Crash:

"Taxi drivers told you what to buy. The shoeshine boy could give you a summary
of the day's financial news as he worked with rag and polish. An old beggar
who regularly patrolled the street in front of my office now gave me tips and,
I suppose, spent the money I and others gave him in the market. My cook had a
brokerage account and followed the ticker closely. Her paper profits were
quickly blown away in the gale of 1929."

------
the_cat_kittles
im starting to think bitcoin should probably be illegal. its perfect for
criminals, with very little value for anyone else. its also potentially
catastrophically destabilizing for states. you are welcome to change my mind,
but know that im not ignorant of it and have been "using" it since 2012.

~~~
drcode
You would probably like the Economist Kenneth Rogoff and his book "The Curse
of Cash":
[http://press.princeton.edu/titles/10798.html](http://press.princeton.edu/titles/10798.html)

It argues that cash, precious metals, and alternative currencies should be
done away with and that we should all become dependent on digital bank
accounts controlled and monitored by the government- That way, if a bureaucrat
is confused by any transaction you are doing they are free to just freeze all
your funds at a moment's notice.

Hope you enjoy living in that world!

~~~
ycmbntrthrwaway
> The world is drowning in cash—and it's making us poorer and less safe.

> So what is all that cash being used for? The answer is simple: a large part
> is feeding tax evasion, corruption, terrorism, the drug trade, human
> trafficking, and the rest of a massive global underground economy.

Don't expect me to be automatically convinced that tax evasion and corruption
are making me poorer and less safe. Tax evasion makes everyone except the
government richer and corruption makes it possible to buy freedom (such as in
countries with drafting).

States may profit from trade restrictions individually, but if everyone
restricts trade of whatever he wants, world is just driven into Nash
equilibrium, where everyone is poorer than without restrictions. Corruption
makes it possible to bypass these restrictions by bribing the customs. So
corruption also makes us richer.

~~~
tormeh
>Tax evasion makes everyone except the government richer

Oh, really? The alternative to modern taxation is not no taxation, but rather
massive taxation where it's hard to evade (for example customs) of the kind we
had in the middle ages. While we can come up with arguments for and against
this, there is a strong positive correlation between tax evasion and poverty,
which means that the burden of proof lies on you.

>So corruption also makes us richer

So, would you say that the music industry's lobbying in Washington makes the
US richer? Corruption is the mechanism by which established players stack the
deck against newcomers, avoid environmental and health regulation and so on
and so forth.

Listen, governments make the world go round. Countries with bad governments
become poor. Countries with good governments become rich.

