[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 789 KB, 1278x832, 1538423105993.jpg [View same] [iqdb] [saucenao] [google]
11323446 No.11323446 [Reply] [Original]

So, I buy let's say BAT at 2600 sats from Binance. now of coure they want to make a profit, and maybe buy back from me at 2500

But then they can also buy back from me if they change the price to 2900? How does they benefit from this?

>> No.11323547

>>11323446

Congradulations OP, you're smarter than everyone else on this board. If all this buttcoiners had just asked themselves this simple fucking question they never would have lost their life's savings. Crypto is a scam, just stay away.

>> No.11323566

>>11323446
I hope this is bait.

>> No.11323588

Yes because then they convince another play to buy for 3000 so they do 3000-2900 = 100 satoshis profit for Binance

>> No.11323602
File: 8 KB, 210x230, st,small,215x235-pad,210x230,f8f8f8.lite-1.jpg [View same] [iqdb] [saucenao] [google]
11323602

>>11323588
Isn't this manipulation?

>> No.11323612
File: 13 KB, 418x359, 1445999248960.png [View same] [iqdb] [saucenao] [google]
11323612

>>11323446
>buy from binance
What did he mean by this?

>> No.11323635
File: 16 KB, 396x385, 1538682852558.jpg [View same] [iqdb] [saucenao] [google]
11323635

>>11323612
log into binance, click the "buy" button?

>> No.11323636

>what are buyers and sellers

>> No.11323649

>>11323446
Either you're a retard, or I'm a retard for not being able to tell if you're trolling or not.

>> No.11323682

>>11323446
What the fuck is a binance? Faggot.

>> No.11323714
File: 17 KB, 394x450, 1526790578355.png [View same] [iqdb] [saucenao] [google]
11323714

>>11323635
on the chance you aren't trolling
you're buying/selling THROUGH binance from/to other idiots like yourself

>> No.11323769

>>11323714

Absolute fucking brainlet. How long have you been thinking you were selling or buying from other anons here.

You buy from Binance/whatever other exchange you are using, and you also sell back to them. This anon laid out how it works here and how the exchanges maintain a profit with this system. >>11323588

If you could just trade your crypto with another anon who the fuck would ever use an exchange? You'd just trade in person.

>> No.11323792

>>11323769
This is so wrong. You would need to know a willing buyer. Which the exchange puts you in contact with. And you need a 3rd party to act as escrow. Which the exchange does

>> No.11323812

>>11323446
Youre literaly retarded, dont trade until you know what a market is, who is moving it, and how it works.

Retardopedia/marketmakers

>> No.11323823

>>11323714
This is de-centralized exchange. Binance is centralized. Board full off literal newfags

>> No.11323913
File: 106 KB, 480x529, 1537571587911.png [View same] [iqdb] [saucenao] [google]
11323913

>>11323792
Boy are you fucking retarded? Binance is centralized, they do all the buying and selling. Put it this way: if the exchange as just a middle man then how did EVERYONE lose their coins in Mt.Gox and how did Mt.Gox end up keeping them all? Checkmate you fucking dumbass brainlet. Pic related is you