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/biz/ - Business & Finance

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Who chooses the value of bitcoins? Anonymous Sat Jul 13 02:34:00 2019 No.14756761 [Reply] [Original]

I have noticed that literally every couple seconds the value changes. Is there some sort of equation to calculate it or does somebody choose it or something else?

>>	Anonymous Sat Jul 13 02:36:02 2019 No.14756776 >>14756761 There's a centralized authority called the Tulip Trust that sets the price every morning at 9:00 UTC and trading fluctuates from there for 24hrs with two standard deviation retracement multipliers until the next price is set.

>>	Anonymous Sat Jul 13 02:39:14 2019 No.14756804 they have a team led by a guy named jason parser who collects data using a series of "fences" and aggregates in on chain using a oralink contract

>>	Anonymous Sat Jul 13 02:39:35 2019 No.14756808 >>14756761 fud and fomo

>>	Anonymous Sat Jul 13 02:39:42 2019 No.14756812 >>14756761 It’s a free market just like anything, the price is what people are willing to buy/sell it for

>>	Anonymous Sat Jul 13 02:40:08 2019 No.14756815 (((jews)))

>>	Anonymous Sat Jul 13 02:40:49 2019 No.14756822 >>14756761 The Bitcoin CEO and his distinguished board of chinks

>>	Anonymous Sat Jul 13 02:41:36 2019 No.14756829 File: 28 KB, 400x400, 1562113036939.jpg [View same] [iqdb] [saucenao] [google] >>14756761 How can someone be this much of a newfag?!

>>	Anonymous Sat Jul 13 02:42:03 2019 No.14756833 >>14756761 The peope

>>	Anonymous Sat Jul 13 02:43:05 2019 No.14756839 File: 277 KB, 500x497, thinker.png [View same] [iqdb] [saucenao] [google] >>14756761 Bitfinex, unironically.

>>	Anonymous Sat Jul 13 02:47:58 2019 No.14756881 File: 37 KB, 645x773, 1561664400570.png [View same] [iqdb] [saucenao] [google] I still don't understand. Someone please give me a legitimate answer.

>>	Anonymous Sat Jul 13 02:51:32 2019 No.14756922 >>14756881 just look at it you goddamn brainlet https://pro.coinbase.com/trade/BTC-USD

>>	Anonymous Sat Jul 13 02:54:26 2019 No.14756939 >>14756761 Flying monkeys high on meth and wodka. Do not anger them.

Anonymous Sat Jul 13 02:57:13 2019 No.14756970

>>14756881
Brainlet confirmed. I'll explain it to you as simply as possible. You and me both have 1 bitcoin. I put it up for sale at $100. You put it up for sale at $1000. The price of Bitcoin is $100 because nobody will pay $1000 when it can be bought for $100. Consider this: You buy my $100 bitcoin and now you have 2 bitcoin which can you sell for $1000 each. You should now understand how people are making money from crypto.

>>	Anonymous Sat Jul 13 03:04:39 2019 No.14757023 Satoshi created btc. he also controls the price duh.

>>	Anonymous Sat Jul 13 03:30:35 2019 No.14757214 Just buy a hardware wallet like a trezor and lock in the price when it's at the high point of the day, you'll be amazed at how much free BTC you can stack if you time it right

>>	Anonymous Sat Jul 13 03:33:10 2019 No.14757226 >>14756881 It's the last price anyone is willing to pay for it. It's literally as simple as that.

>>	Anonymous Sat Jul 13 03:35:10 2019 No.14757242 File: 417 KB, 509x510, 1537526692390.png [View same] [iqdb] [saucenao] [google] >>14756761 Time for a quick rundown

>>	Anonymous Sat Jul 13 03:38:17 2019 No.14757267 >>14756761 tether printer

Anonymous Sat Jul 13 03:38:39 2019 No.14757271
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>>14756970
>>14757226
Ok but what if I want to sell to coinbase and not a person? What if I request $15,000 for my bitcoin? What stops everyone from putting there bitcoin on sale for 100k?

>>	Anonymous Sat Jul 13 03:39:14 2019 No.14757278 >>14756761 I will give you an answer that you can understand if you tell me how the fuck someone as uneducated in this matter as you ended up knowing about crypto and how did you find out about this board.

>>	Anonymous Sat Jul 13 03:44:37 2019 No.14757317 >>14757271 The fact that no one would buy it. I dont know why i am answering this obvious troll

Anonymous Sat Jul 13 03:46:27 2019 No.14757337
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>>14757271
Coinbase acts based on global averages. Your misunderstanding doesn't come from being new to crypto, but new to supply/demand and economics in general (which is fine, but tread carefully). So, when you sell to Coinbase, you're selling based on an average which other people are setting based two things - 1) how much people are willing to pay for the bitcoin (demand) and 2) how much bitcoin is currently up for sale. If there is a small amount of bitcoin being sold, and a very high demand for it, the price will go up because there is a limited supply. This will cause the price in Coinbase to go up as well. Likewise, if there is a high supply being sold, but nobody is buying it, the price will go down, and Coinbase will reflect those changes.

If you've ever played RuneScape (or similar) as a kid, just think of it as the Grand Exchange. If not, there isn't really another example I could give you. Try reading online (or watching a video) of how supply/demand determine prices or value.

Also, one last note - be careful. People like you get tricked all the fucking time into buying shit. Late 2017 is a great example.

>>	Anonymous Sat Jul 13 03:48:11 2019 No.14757360 Nobody knows who mitsubishi motorola really is or why he buried all these bit coins in antarctica so nobody knows how much they're worth. Coinbase just guesses random prices and hopes they're right and sometimes they are.

>>	Anonymous Sat Jul 13 03:48:31 2019 No.14757362 >>14757271 Nothing. There are sell orders on coinbase for 100k. But why would anyone want to buy other than at the cheapest price available at the time?

Anonymous Sat Jul 13 03:50:49 2019 No.14757380

see. you are wrong. low iq way of thinking. the value of bitcoin does not change. 1 btc = 1 btc and will always be 1 btc.. get smarter

if you cant wrap your mind around this.. try thinking it this way.. all fiat is gone.. and btc is the only currency.. so coffee is like 3 satoshies, mcdonalds is 5 satoshies.. etc. ..

Anonymous Sat Jul 13 03:51:00 2019 No.14757382

>>14757337
Also, adding onto this - you can choose to buy/sell at prices that aren't average (market) depending on which way the currency is going (up/down). This can help you get ahead of certain people when buying/selling depending on trendlines, and you can read candlesticks to determine this stuff. But honestly, if you aren't a troll, you're better off sticking average and long-term holding. Don't buy high prices, only buy dips, and you'll be fine.

>>	Anonymous Sat Jul 13 03:53:36 2019 No.14757397 imagine responding to this bait

>>	Anonymous Sat Jul 13 03:59:56 2019 No.14757452 >>14756761 Do your research about the terms "order book", "bids and asks", "market buy and sell". Then you will understand it.

Anonymous Sat Jul 13 04:03:24 2019 No.14757485
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>>14757337
Ok I get it. Thanks for explaining it.

>>14757317
I misunderstood someone above said you could pick how much you sell for but I understand it now.

>>14757278
>you ended up knowing about crypto and how did you find out about this board
I first heard about crypto on /pol/ and I found out about /biz/ from /pol/. I'm not racist and I only go on /pol/ to browse and laugh.

>>	42 Sat Jul 13 04:03:57 2019 No.14757486 File: 132 KB, 1000x1000, C3FB048B-FE44-4BE7-BF4B-799C1870E320.jpg [View same] [iqdb] [saucenao] [google] >>14756761 How much does your house cost again? You do understand the concept of buying and selling right? >hint: it takes two to tango

>>	Anonymous Sat Jul 13 04:05:10 2019 No.14757494 >>14756761 Sent ;)

>>	Anonymous Sat Jul 13 04:07:40 2019 No.14757512 >>14756881 YOU FUCKING FAGGOT SHUT UP!

>>	Anonymous Sat Jul 13 04:16:40 2019 No.14757577 >>14757337 Do you know that you just condensed several 4 year degrees, valued in the tens or hundreds of thousands, into a few short paragraphs. There's a multibillion dollar industry built around obscuring what you just said. TL;DR delet ths

>>	Anonymous Sat Jul 13 04:19:25 2019 No.14757597 >>14757485 >lushes

>>	Anonymous Sat Jul 13 04:19:33 2019 No.14757600 >>14757485 listen honey you're gonna get a lot of mean comments but i want you to know im here for you and that you're wonderful

Anonymous Sat Jul 13 04:38:41 2019 No.14757786
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>>14757485
ok, but it seems that other anons have already answered your questions, especially him >>14757337

the TL/DR is that nobody sets the price of bitcoin. It's worth what people are willing to pay for it. When you have many exchanges with billions in volume, it's easy to do price discovery and see what its market value is. You should read up more on supply and demand. For a second there I thought you are commie and you can't understand supply and demand, but you mentioned you came from /pol/ so you should be ok.

Also, how come a /pol/tard doesn't understand basic economics? Isn't the whole point to understand how the kikes fuck the goyim through the financial system? Seems strange.

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