marnie (OP)
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December 03, 2012, 06:58:01 PM |
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Using Mtgox for reference. If I wanted to sell a bunch of bitcoins, how do I determine what price I should list it at?
I mean if I have it at the default sell price, will it move fast?
Or should I take the "last price"?
Or "low price"?
And usually how long does it take before they get sold? (roughly)
Thanks.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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MoonShadow
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December 03, 2012, 07:00:28 PM |
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Depends upon how quickly you desire to sell. If you're in a hurry, sell at the current offer. If you can stand to wait a bit, put up an ask around the last price. If you have the time to wait, set your ask to a bit higher, and see if someone will come up to you. Or you could split up your bitcoins into some combination.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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RodeoX
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The revolution will be monetized!
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December 03, 2012, 07:28:32 PM |
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You are asking the right questions. But there are no easy answers. As MoonShadow mentioned you can choose a strategy based on time and risk. If you put some coins up for sale at a higher than current price, you are betting that the price will climb up to your ask. If you just want dollars right now, you can sell to the highest current offer to buy. Another option is to spend your bitcoins and buy stuff you would have used the dollars for. Sometimes that is the best value.
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BFL_Theo
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December 03, 2012, 09:01:48 PM |
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You are asking the right questions. But there are no easy answers. As MoonShadow mentioned you can choose a strategy based on time and risk. If you put some coins up for sale at a higher than current price, you are betting that the price will climb up to your ask. If you just want dollars right now, you can sell to the highest current offer to buy. Another option is to spend your bitcoins and buy stuff you would have used the dollars for. Sometimes that is the best value.
I agree with RodeoX its w.e your really into, like me for instance i use Mtgox and post the value i feel is worth the amount of each bitcoin i want rather then letting the highest bidder take or buyer, but don't take my way as the only one sometime i'll have my coins for almost a week there taking a risk. just think of it as Stocks if it makes any sense |
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marnie (OP)
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December 03, 2012, 09:26:30 PM |
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Depends upon how quickly you desire to sell. If you're in a hurry, sell at the current offer. If you can stand to wait a bit, put up an ask around the last price. If you have the time to wait, set your ask to a bit higher, and see if someone will come up to you. Or you could split up your bitcoins into some combination.
So the default offer will sell pretty quick? The default price is the last ask price. Or should I go a bit lower if I want to dump them quick? Also, is it automatic or do I have to approve it? Thanks for the help. |
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MoonShadow
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December 03, 2012, 11:26:32 PM |
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Depends upon how quickly you desire to sell. If you're in a hurry, sell at the current offer. If you can stand to wait a bit, put up an ask around the last price. If you have the time to wait, set your ask to a bit higher, and see if someone will come up to you. Or you could split up your bitcoins into some combination.
So the default offer will sell pretty quick? The default price is the last ask price. Or should I go a bit lower if I want to dump them quick? Also, is it automatic or do I have to approve it? Thanks for the help. I believe the default is the last sale price, but in order to sell immediatly, set your ask to where the current highest bid price is. That is literally a current standing offer someone has made, waiting for someone else to come along who needs the cash quickly. The sale would happen before you could pull your index finger away from the mouse. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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knight22
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--------------->¿?
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December 04, 2012, 12:11:50 AM |
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If this can help  Source: Mt.Gox Live |
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marnie (OP)
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December 04, 2012, 12:16:39 AM |
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Thanks everyone.
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