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Author Topic: what make bitcoin exchange rate go up/down to usd ?  (Read 9296 times)
Babylon
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January 16, 2011, 07:20:57 PM
 #21

Supply and demand.

So there is some kind of system that is calculating transations ? How I can be sure that system is working good ? no controled by anyone outside. Controled only by programist that creat it.

it's not controlled by the programmer, it is controlled by the people buying and selling bitcoins.

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The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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FreeMoney
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January 16, 2011, 10:09:22 PM
 #22

I suppose the real answer to the OP, and I apologise if I'm just simply recycling previous posts, is you need to ask the question: "How much am I willing to buy/sell BitCoins for?"

That is your personal exchange rate, if somebody else agrees with you, then you have a sale.

As said before, it doesn't matter if all the offers there are artificially inserted by the exchange themselves. The only problem comes is if they are selling BitCoins they don't have, in which case the problem is something else entirely, and not manipulation of the market.

I would phrase it the opposite way. If someone disagrees with you then you have a sale. If I value a coin more than 40 cents and so does someone else we have no trade. But if they value the coin less than 40 cents we can both benefit from the trade.

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January 16, 2011, 10:55:29 PM
 #23

I suppose the real answer to the OP, and I apologise if I'm just simply recycling previous posts, is you need to ask the question: "How much am I willing to buy/sell BitCoins for?"

That is your personal exchange rate, if somebody else agrees with you, then you have a sale.

As said before, it doesn't matter if all the offers there are artificially inserted by the exchange themselves. The only problem comes is if they are selling BitCoins they don't have, in which case the problem is something else entirely, and not manipulation of the market.

I would phrase it the opposite way. If someone disagrees with you then you have a sale. If I value a coin more than 40 cents and so does someone else we have no trade. But if they value the coin less than 40 cents we can both benefit from the trade.

I stand corrected. This is closer to the truth.

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