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May 09, 2013, 08:03:38 AM |
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Hello. I never dealt in any other exchange market before bitcoin, so this may be stupid.
What happens if I buy too expensive, or sell too cheap, than the average? Of course the deal will be successful immediately, but at which price?
Supporse there are 4 people each buying a bitcoin, at the following prices:
$105 $103 $102 $100 [ there are no more bids at lower prices]
Now I decide to sell a bitcoin at $90 - maybe I am crazy, may be it is a typo, maybe the market is plummeting at 1$ per minute - and I fill the form, state I am willing to sell a bitcoin at $90, what will happen?
The deal will be successful, but would I get $90 (my biding) or $100 (others' bidding)? Or would I get $95? What about the buyer, would he suddenly find he bought bitcoin cheaper than the price he is willing to pay? Or did the market operator benifits from the difference? Or did each exchange market make their own rule?
I think this happens in stock market too. It's not a new situation.
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