/biz/ - Business & Finance

>>54454136
Okay THIS is why I started this thread.

>Someone shows up, tries to sell something for 0, they will instead receive the best available price on the buy stack.
This is a favor the seller model right? (100% favoring the seller). Couldn't it just as easily be purchased at the buyer price (100% favoring the buyer) or average it 50/50 between buyer and seller?

So two orders come in that need to be processed: buy limit is 100, sell limit is 50 (negative spread of 50). Does the transaction go through at 100, 50, or 75? All would be valid technically.

The example I gave where the wick would go to zero is in an example where the buyer gets the best price (50 in this example). In your example the seller is always pulling as much money from buyers as possible (100 in this example).

This just seems weird. If I made a transaction on an exchange and put my buy limit at $100, and there was a gigantic huge market depth of sell orders at $50 (and I transacted with one of those orders), you're saying that, if my transaction went through on one of those orders, I would just be essentially giving away an extra $50 for no reason (handing them $100 instead of $50)?

>>29585470
>>29586159
>>29589868
>>29589307
>>29590890
>>29592698
first copypasta did i do good

>>28718969
but why wouldn't they just use regular money?

>>11816098
>>11816101
This doesn't explain who backs them at all. The info I showed from the first link highlights that they actually blacked out the supposed sources of their funds.
How does that answer my question?
Where is the money?
Who backs it?
How does the reliance on tether not ensure that crypto is forever centralized?
Has no one asked this?

Umm... Why hasn't Kraken given me my bitcoin gold?

How am I supposed to get it?