8489faustn (OP)
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December 23, 2016, 03:13:08 AM |
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Currently all coins are traded 24/7 however, I am just wondering what are the benefits of being traded 24/7 rather than what stocks do from 9:30-4:30 EST Monday-Friday? If trading 24/7 is that much more beneficially how come stocks don't implement continuous trading? I understand that stocks trade during bank hours but is there any other reason for why they do it? Maybe to control volume?
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RoommateAgreement
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December 23, 2016, 03:31:37 AM |
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bitcoin doesn't belong to one country which means between your 4:30 to 9:30 (when you are suggesting market to be closed) it is the start of the day in some other countries on the other side of the earth.
in other words you are suggesting them to be forced to trade from dusk till dawn but you be able to trade from dawn till dusk!
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Buying the dip...
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Gabrics
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Just digging around
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December 23, 2016, 03:34:27 AM |
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Bitcoin is global, but the exchanges are local but serving (usually) an international clientele hence 9-5 would be silly I believe.
Also what is the advantage limiting trading hours? Any sane business wanna be open as long as profitable to attract more customers.
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U2
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December 23, 2016, 03:37:29 AM |
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Bitcoins are a currency not a stock. Your currency will change value overnight as will bitcoin. If you don't want to trade from 4:30pm to 9:30 am then at 4:28 pm trade everything into something stable and at 9:28am the next owning go right back to it. This way you don't worry overnight what's happening to your investment.
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8489faustn (OP)
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December 23, 2016, 03:42:29 AM |
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Both of your answers make sense. Thanks for the clarification. So there's really no advantage over 24/7 trading then having certain market times, its just bitcoin is forced to trade continuously since it's worldwide. And it isn't possible to open up separate market exchanges for different time zones, like the NYSE and Hang Seng, since these indexes make up different stocks whereas bitcoin is the same worldwide.
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traderethereum
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December 23, 2016, 03:46:15 AM |
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its depend on can you make trading on that time or not because we don't have to do trading if we need to get rest and if you want, you can use the facility of order book and order sell and waiting for your order in queue so you don't have to get online in a whole day and you can use your time for doing anything else.
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RoommateAgreement
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December 23, 2016, 03:52:37 AM |
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Both of your answers make sense. Thanks for the clarification. So there's really no advantage over 24/7 trading then having certain market times, its just bitcoin is forced to trade continuously since it's worldwide.
yes that is right. And it isn't possible to open up separate market exchanges for different time zones, like the NYSE and Hang Seng, since these indexes make up different stocks whereas bitcoin is the same worldwide.
i think it would be better if you compare bitcoin trading to forex trading instead of stocks. in that case you may understand why it should be a 24/7 market easier. because it is just like forex where you trade fiat currencies against each other and you need 24/7 because people all around the world are doing it. |
Buying the dip...
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Zadicar
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December 23, 2016, 03:54:41 AM |
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Precise answer have been mentioned above which do i really agree since bitcoin is worldwide and doesnt own by any country on whiing traded 24/7 since exchanges are always online unlike on trading on stock markets which they do really have open and closed hours and regarding on advantage i could not see any of it.
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8489faustn (OP)
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December 23, 2016, 04:02:41 AM |
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[/quote] i think it would be better if you compare bitcoin trading to forex trading instead of stocks. in that case you may understand why it should be a 24/7 market easier. because it is just like forex where you trade fiat currencies against each other and you need 24/7 because people all around the world are doing it. [/quote] Ahhh makes sense. Never liked the forex hahaa  |
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HabBear
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December 23, 2016, 04:07:08 AM |
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Are you asking if it's appropriate for bitcoin to be traded 24/7?
Obviously bitcoin can be bought and sold at any point during the day or night right now. I think it's very appropriate for a 24hr a day access/trading, it's what keeps the market pure and fluid.
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8489faustn (OP)
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December 23, 2016, 04:09:26 AM |
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Are you asking if it's appropriate for bitcoin to be traded 24/7?
Obviously bitcoin can be bought and sold at any point during the day or night right now. I think it's very appropriate for a 24hr a day access/trading, it's what keeps the market pure and fluid.
Yeah I was just thinking of bitcoin more of a stock rather then a currency for some reason lol.. So was trying to figure out why there is a difference between the hours of stock trading and hours of bitcoin trading. However, know that I got the fact that bitcoin is a currency, duh..., makes sense that it is traded like the forex does |
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thepo1m
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December 23, 2016, 04:10:57 AM |
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One of the best thing about Bitcoin is to be able to trade it 24/7. It gives people advantage to be able to speculate or get out of any trade at will and also you need to consider the time variation across the globe, it will be unfair to fix the time because when you are sleeping some people are waking up. Also remember that Bitcoin is designed to be a currency not an asset
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