Bitcoins - about to hit $5,000 per coin today!

[buresu]

13400 $

[Mr Anabolic]

13400 $

If you post every time it loses $100, that would be funny.

[SF1900]

This came up on google now:

$14306.62

[buresu]

13100 $

[SF1900]

13100 $

Where are you getting this from?

[buresu]

Where are you getting this from?

blockchain

[Mr Anabolic]

Where are you getting this from?

Very stable.  Exchanges don't even value it the same way.

lol

[SF1900]

SELL, GIB, SELL!!

[SOMEPARTS]

Very stable.  Exchanges don't even value it the same way.

lol

Exchanges and their poor service and inflated pricing as the gatekeeper are a huge weakness right now. At one point a few days ago Coinbase was quoting thousands over per Bitcoin. That sort of thing won't fly for long. Either a better exchange option will come along or a truly de-centralized workaround will pop up.

[robcguns]

I hope it goes down to 5k then I will buy two more and enjoy the bumpy ride.

[SOMEPARTS]

I hope it goes down to 5k then I will buy two more and enjoy the bumpy ride.

It was $5900 less than a month ago. I'm wondering what happens when it starts getting shorted on futures markets in a week.

[robcguns]

It was $5900 less than a month ago. I'm wondering what happens when it starts getting shorted on futures markets in a week.

Should be interesting.Definitely in for a roller coaster of a ride.

[Twaddle]

Very stable.  Exchanges don't even value it the same way.

lol

I'm not an investor, so I don't know how these things are valued.  However, I just looked at the USD price of BTC on Coindesk, Coinbase, and Blockchain.  These are supposed to be realtime values.  I got the following:

Coinbaise: 14,774
Coindesk:  14,319
Blockchain:  14,617

How can there be such a variance from one to the other?  I really don't understand how this works.   

[robcguns]

I'm not an investor, so I don't know how these things are valued.  However, I just looked at the USD price of BTC on Coindesk, Coinbase, and Blockchain.  These are supposed to be realtime values.  I got the following:

Coinbaise: 14,774
Coindesk:  14,319
Blockchain:  14,617

How can there be such a variance from one to the other?  I really don't understand how this works.   

I know coinbase is higher so they can make more money I imagine besides fees.

[Griffith]

Hypothetically, if there was a massive sell-off in a short period of time, would these exchanges have the available cash to pay out billions?

[robcguns]

Hypothetically, if there was a massive sell-off in a short period of time, would these exchanges have the available cash to pay out billions?

Wouldn’t even be able to sell off,coinbase was down a few days ago for 8 hours due to high volume.So you gotta be quick or just hold for the long run.

[Twaddle]

Hypothetically, if there was a massive sell-off in a short period of time, would these exchanges have the available cash to pay out billions?

Or, would they honor the sell orders?  What if some news breaks, that would detrimentally effect the value of the bitcoin.  There would be a huge sell off in a short period, as you state.  What if the exchanges say, "No thanks, we're no longer interested."  Would people be stuck?  

[Mr Anabolic]

Wouldn’t even be able to sell off,coinbase was down a few days ago for 8 hours due to high volume.So you gotta be quick or just hold for the long run.

The sell orders will overwhelm the exchanges and the prices drop.  Your order will get filled eventually, but at a much lower price.  This even happens with legit trading brokerages during big stock market selloffs.  I've seen it many times... the trading platform locks up and doesn't respond.  Many times I was short, but couldn't get out at the low.  It sucks.

Once the grand selloff begins those holding for "the long run" will turn into fearful sellers.  There's only so much pain people can take watching the price go lower, lower and lower.

This is all going to happen at some point in the future.

[SF1900]

Very stable.  Exchanges don't even value it the same way.

lol

I really do not care if it's stable. I have ZERO bitcoin. It makes no difference to me. In fact, I did not know what bitcoin was until getbig talked about.

I just like to bump this thread to see you idiots go back-and-forth.  

But, I think Ill bow out now and stop updating.

[Griffith]

The exchanges should have the cash already, as the buyers have to have funds deposited at the exchange before they can buy.

During a massive sell-off the sellers receive cash from the buyers via the exchange. The money is already deposited at the exchange, all that happens is the computer system of the exchange just debits the buyers account and credit the sellers account with the cash.

If exchanges are mismanaging peoples deposited money then they might not have the available cash.

OK. Is there  any public knowledge on how these exchanges are managed and what their assets and available funds are?

[Mr Anabolic]

OK. Is there  any public knowledge on how these exchanges are managed and what their assets and available funds are?

Nope.  There is no transparency whatsoever.  I would imagine there are a few more Mt Gox's out there.  When this bubble mania starts to wear off and the majority of btc holders become sellers, that will reveal the troubled/mismanaged/scam exchanges. 

90% of the new people jumping into cryptos are doing it because they think they can make some quick, easy money.  The astonishing thing is... these people don't really know anything about what they are buying.     

[Slapper]

Correct me if I'm wrong but... the exchange doesn't actually hold anything. When two entities want to trade, let's say fiat to BTC in this case, all the exchange does is facilitate the trade, but nothing more. The trade happens almost simultaneously. The issue, I reckon, has to do with extreme high volume of transactions and the lack of computing power, which is the real issue.
 

[QuietYou]

every time there is a price hike there will be a price drop at least for some time shortly after. Once it hits an all-time high alot of people will sell and think that it is peaking. The smart people keeping holding on and once the sellers end up selling the bitcoin. There is nobody left to sell. Demand increases, price goes up again.

[TheGrinch]

Why is gib only around when bitcrap is going up?

[gib]

Why is gib only around when bitcrap is going up?

Still here. Will answer questions a little later. A bit busy right now ...