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SVTPerformance's Chain of Restaurants
Road Side Pub
Anyone own any Bitcoin here?
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<blockquote data-quote="quad" data-source="post: 16092176" data-attributes="member: 17952"><p>I think exchanges have an influence on the prices and supply and demand plays a role. Somebody is not sitting in an office saying hmm I think Bitcoin is now worth $4000 lol! Also when someone goes on an exchange like Coinbase and converts their hard earned US dollars for crypto currencies they are supporting the price of that cryptocurrencies based on the current exchange rate. Many people have done this. Coinbase has the ability to be linked to checking accounts and you can transfer USD directly from there to your Coinbase account. Then the USD sit their in an account and you can decide at what price point you are willing to buy say Bitcoin, Ethereum, Litecoin and now Zcash. Coinbase plans to add many more altcoins and there are rumors they would even add Ripple. Ripple was number 2 for a while the past few weeks behind Bitcoin after it overtook Ethereum's market cap. But very recently Ethereum took back the number 2 spot however the two are still very close.</p><p></p><p><a href="https://cointelegraph.com/explained/how-cryptocurrency-prices-work-explained" target="_blank">How Cryptocurrency Prices Work, Explained</a></p><p></p><p>"Daily cryptocurrency <a href="https://cointelegraph.com/explained/crypto-trading-explained" target="_blank">trading</a> volumes are around the $14 billion mark, while daily forex trades are closer to $5 trillion. The spread — the difference between the buy and sell price — on foreign currency trades will be a few pennies at the most, while spreads on cryptocurrency trades can be as high as a few dollars.</p><p></p><p>All this points to a very thin market that naturally moves very quickly and thus increases the volatility of cryptocurrency prices.</p><p></p><p>A large number of new adopters are also joining the market every single day. At the beginning of 2018, cryptocurrency exchanges reported that they were adding <a href="https://cointelegraph.com/news/exponential-growth-cryptocurrency-exchanges-are-adding-100000-users-per-day" target="_blank">100,000 new users every day</a>. Many of these members will have significant vested interest in the price of cryptocurrencies going either up or down, which adds to the disruptive nature of the market and further increases volatility.</p><p></p><p>Finally, price <a href="https://cointelegraph.com/news/research-tether-bitfinex-manipulation-reason-behind-2017-bitcoin-price-highs" target="_blank">manipulation</a> can be rife in nascent markets. Central exchanges control most of the flow of cryptocurrencies, giving them a lot of incentive to grow their revenue by artificially manipulating crypto prices. One way they can do this is by manipulating the price feeds displayed on exchanges, prompting traders to either buy or sell.</p><p></p><p>The effect of this type of manipulation is compounded if you throw in thousands of new market participants who can be easily taken advantage of. In addition, price manipulations can be hard to prove and control in unregulated markets.</p><p></p><p>Central exchanges also provide a single point of failure. They manage and store large sums of crypto, which means if they get <a href="https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack" target="_blank">hacked</a>, it can have a significant effect on the price of cryptocurrencies."</p></blockquote><p></p>
[QUOTE="quad, post: 16092176, member: 17952"] I think exchanges have an influence on the prices and supply and demand plays a role. Somebody is not sitting in an office saying hmm I think Bitcoin is now worth $4000 lol! Also when someone goes on an exchange like Coinbase and converts their hard earned US dollars for crypto currencies they are supporting the price of that cryptocurrencies based on the current exchange rate. Many people have done this. Coinbase has the ability to be linked to checking accounts and you can transfer USD directly from there to your Coinbase account. Then the USD sit their in an account and you can decide at what price point you are willing to buy say Bitcoin, Ethereum, Litecoin and now Zcash. Coinbase plans to add many more altcoins and there are rumors they would even add Ripple. Ripple was number 2 for a while the past few weeks behind Bitcoin after it overtook Ethereum's market cap. But very recently Ethereum took back the number 2 spot however the two are still very close. [URL="https://cointelegraph.com/explained/how-cryptocurrency-prices-work-explained"]How Cryptocurrency Prices Work, Explained[/URL] "Daily cryptocurrency [URL='https://cointelegraph.com/explained/crypto-trading-explained']trading[/URL] volumes are around the $14 billion mark, while daily forex trades are closer to $5 trillion. The spread — the difference between the buy and sell price — on foreign currency trades will be a few pennies at the most, while spreads on cryptocurrency trades can be as high as a few dollars. All this points to a very thin market that naturally moves very quickly and thus increases the volatility of cryptocurrency prices. A large number of new adopters are also joining the market every single day. At the beginning of 2018, cryptocurrency exchanges reported that they were adding [URL='https://cointelegraph.com/news/exponential-growth-cryptocurrency-exchanges-are-adding-100000-users-per-day']100,000 new users every day[/URL]. Many of these members will have significant vested interest in the price of cryptocurrencies going either up or down, which adds to the disruptive nature of the market and further increases volatility. Finally, price [URL='https://cointelegraph.com/news/research-tether-bitfinex-manipulation-reason-behind-2017-bitcoin-price-highs']manipulation[/URL] can be rife in nascent markets. Central exchanges control most of the flow of cryptocurrencies, giving them a lot of incentive to grow their revenue by artificially manipulating crypto prices. One way they can do this is by manipulating the price feeds displayed on exchanges, prompting traders to either buy or sell. The effect of this type of manipulation is compounded if you throw in thousands of new market participants who can be easily taken advantage of. In addition, price manipulations can be hard to prove and control in unregulated markets. Central exchanges also provide a single point of failure. They manage and store large sums of crypto, which means if they get [URL='https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack']hacked[/URL], it can have a significant effect on the price of cryptocurrencies." [/QUOTE]
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Anyone own any Bitcoin here?
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