/biz/ - Business & Finance

>>16146811
supply and demand

>>16146811
its the buyers are willing to pay and sellers are willing to sell at
hence supply and demand

>>16146816
Alright fuck off with your bullshit answers.
I have a PhD in Pyschology so I'm not stupid. Explain to me how it actually works.

>>16146811
jesus fucking newfag brainlet retard

>>16146823
But how do they determine how much buyers are willing to pay and how much sellers are willing to sell? This is what I've been asking for the longest time and no one seems to be able to answer me clearly. Is everyone stupid and I'm the only smart person in the world?

>>16146831
Is this guy serious

>>16146831
But how do they determine how much buyers are willing to pay and how much sellers are willing to sell?
exchange order books...
i cant take you seriously anymore

>>16146842
>>16146844
See this is why I still don't know how it works, because even if I asked a clear, concise question, you retards are still too stupid to explain it, and you assume everyone knows everything already.
Grow up, dumbasses.

>>16146831
>these are the people telling you how to invest your money on this board

>>16146849
I bet you feel so smart now, huh? I'm pretty sure I'm the only person in this entire board with a PhD. I guess it's true what they say: dumb people think they're smarter than they actually are. Jesus christ, you're hopeless.

>>16146859
>I bet you feel so smart now, huh? I'm pretty sure I'm the only person in this entire board with a PhD. I guess it's true what they say: dumb people think they're smarter than they actually are. Jesus christ, you're hopeless.

>I have a PhD in Pyschology

So what does it mean psychologically when a guy constantly mentions his PhD but can't grasp the most basic of concepts

They give a phd to anyone these day, huh?

>>16146811
>>16146859
When you're on an exchange, you can enter how much you're willing to buy something for. But if no one is selling it for a price as low as you desire, you'll never be able to buy it. So, most buyers will simply use the option to automatically buy whatever the thing, ex. bitcoin (btc), is being sold for the lowest price at the moment, since they want their btc NOW. Not in 10 minutes when btc MIGHT be available for 95% of the price it is RIGHT THE FUCK NOW. People are impatient.

You've probably figured out by now that you can also list said thing (coin/token/etc.) for sale if you have it. Listing something for sale gives you the ability to set the minimum and maximum prices you're willing to sell it for.

Keep in mind: nothing comes out of thin air. If you're buying btc, you need to be buying it from someone that's selling it. And in order to turn your btc into $$$, you need to actually sell it. If you want your $$$ right now, then you need your btc to be the next btc that someone buys, and when that someone is going to be using the auto-buy option, that means you need your btc to be the lowest price on the market. As a result, eager sellers who want their $$$ RIGHT THE FUCK NOW use the auto-sell option, which sets your btc for sale lower than anyone else's is at the moment.

So when a ton of people want to sell their btc at the same time, the price goes down because everyone tries to beat the lowest price at the same time. When no one wants to sell, the few manual sale settings ("I REFUSE to sell below $10k per btc") drive the price UP because they have less competition.

Hope this helps, buy BTC, trade it for CHZ, and thank me in a couple weeks when you're rich

BITCOIN PRICE IS DETERMINED BY ITS ADOPTION

THATS WHAT WE HAVE BEEN SAYING SINCE 2011.

IF YOU WANT IT TO GO HIGHER YOU HAVE TO USE IT AND HELO ITS IMPLEMENTATION. HODLER ARE THE WORST NEXT TO NO COINER.

>>16146842
Obviously not

Imagine making your own coin. You put it on an exchange. You put 1 coin for sale at $0.0001 usd. Nobody is buying it. You lower, and you keep lowering it until someone is willing to part with their money. Now another guy sees oh shit someone actually bought and is willing to pay slightly more. So you adjust your selling price to account for the new guy in order to maximise your profits. This goes on until your price per coin is 100000000 million trillion dollars.

>>16146918
Kind sir, what the fuck is CHZ

>>16146824
>I have a PhD in Pyschology so I'm not stupid

>>16146918
Oh now I understand. I guess I've never really been on an "exchange" since I'm extremely new to this thing (not just crypto, but trading in general), which is probably why I never got the supply and demand explanation. I also didn't know that you basically just buy the one that is priced the lowest, which actually makes perfect sense, I just wasn't sure that that's how money works. Anyways, thanks for the clear explanation, I think I actually kinda understand it now.

>>16146931
Yep, this actually makes sense now, thanks anon. I'm assuming I don't need further knowledge in order to get into crypto trading? But I guess I can still do some further research just to satisfy my curiosity. I'm just glad someone is able to properly and simply explain it now.

>>16146920
Bitcoin was less widely adopted in 2017 than in 2013

>>16146811
Last price of a transaction.

>>16146948
Nah man this is all you need to know. I suggest maxing out your credit card, selling your house and taking a loan and just start trading. It's as simple as that. This is how billionaires are born

>>16146958
Yeah well I won't do that, but thanks.

>>16146948
Jesus how have you survived for so long missing half your brain?

>>16146918
was it really worth spoon feeding mr psych (lol) phd who couldnt take 60 seconds to google how an exchange works just to shill chz?

>>16146824
>phd in psychology
What a sissy.