The prices on coinmarketcap discussion today on Facebook chat and its summary.
I wish to explain to the xvp community and to the people that dont understand how the calculations of the coinmarketcap get its coin price.
1. The coinmarketcap system use average of all the transactions on all the exchangers to get the value of a coin.
2. First you must understand how the exchangers reports to coinmarketcap before it get the total 24 hours sales from that exchange.
How exchanges give output transaction to coinmarketcap: you need to get this point clear; we have only 2 functions part in exchange platform, selling and buying. This 2 part has 2 types of activities in each side.
The people that wish to sell and the people that wish to buy, this people have listed the prices that they like to sell on different satoshis value as they wish to sell their coin. This exchange report to coinmarketcap comes from transaction that occur on any of this side within24 hours but the last transaction satoshi is what is use to get the platform final coin price.
So you need to get it well, if the last person selling is on a high price and it happens to be the last transaction that occur, that is, if someone buy from the person selling on the exchange, whatever satoshi value it is, that is what will report to coinmarketcap.
Now get this also, if no one is selling in a particular exchange and the last person that list his selling order put up his price at 20000 satoshi because he dont want to sell low, if any one buys at that price, that is what report to coinmarketcap as the price of that coin from that exchange. It is not manipulation but you fell also to exchange on that exchange. Should he or she change his price order because one exchange is selling at one price? NO! NO!! NO.
Anyone is free to sell whatever price he or she wishes to sell as that is the crypto system, but we will not accept if anyone is just busy to destroy the exchange and the coin Eg. When price is selling at 1000 and the person just come up to sell at 100 satoshi and he just get busy doing that, any time anyone buys it he put it back on that value.
Now I am about to talk to YOU and this community, the mentality of VTA and one exchange is what the problem from VTA to XVP. And that mentality keeps all of the community in bondage.
Exchange in all the exchanges, choose one exchange you can take your referrals to, it is the exchange we show them that is where they will buy from. Sell in all the exchanges buy in all the exchanges, you need to change your thinking that the price in a particular exchange is the price of the coin, it is not so.
1 Now can you tell me the exchange platform that the price of that website is the price of bitcoin?
2 who told you that all exchanges must have the same price at a time?
3 have you ever check any other coin on coinmarketcap and see that all the exchanges are not having one price because it is not possible, but the mentality of poor live of VTA has enter many of the people of this community but we must remove it from our lives and think big as we know that this coin is going to take over so many coins soon.
4 check on the link below, to see all exchanges where the coins we are looking on BTC, Ethereum, and DASH and see if all the exchanges sell at the same price. If after you have checked and they are not the same price in all the exchanges, you need to remove the mentality of poor live of VTA from your live in XVP and exchange in all the exchangers, but we have advice you all not to install or save your coin in exchanges and any online wallet for now. This is the links CHECK NOW 1: Bitcoin
http://coinmarketcap.com/currencies/bitcoin/#markets 2: Ethereum
http://coinmarketcap.com/currencies/ethereum/#markets 3: Dash
http://coinmarketcap.com/currencies/dash/#markets.
Thanks for the update .
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