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/biz/ - Business & Finance

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8258826 No.8258826 [Reply] [Original]

When btc is exchanged for other cryptos, is that transaction taken into consideration in the price of bitcoin, or is the price of bitcoin solely based on fiat buy/sell?

>> No.8258858

>>8258826
You mean inside an exchange? Generally there aren't miners involved, you're buying instantly.

>> No.8258882

>>8258826
BOth affect it

>> No.8258887

>>8258826
It doesn't affect the price of bitcoin

>> No.8258890

>>8258858

inside exchanges and also in the calculation of the "global average price"

>> No.8258907

>>8258887

if thats the case, then btc is possibly 15x more expensive than it is supposed to be

>> No.8258920

>>8258887
It does retard, when u buy alts ur selling btc

>> No.8258933

>>8258826
Only fiat buy/sell. Also alts get inflated when you buy with btc. So you might say that btc is overvalued but than alts are eaven more overvalued.

>> No.8258951

>8258920
yeah but fiat/btc price does not change. Thus all altcoins not having a direct fiat paring can be discarded as non existent on mcap.

>> No.8258952

>>8258920
And someone is buying your bitcoin.

>> No.8259016
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8259016

>>8258933

>this is fine

>> No.8259132

>>8258890
Oh fuck I don't know, that's some weird shit that gets calculated differently for Korea.