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Lucacrebbe (OP)
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October 06, 2017, 09:41:40 AM |
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I was buying a coin on bittrex, looking at the order book
ASK: PRICE 0.00158400
BID : PRICE 0.00157780
I wanted to buy it so I put an order at current market price (last offer) but it has not been fullfilled yet , does this mean that people don't want to sell (now), so there is more buying pressure?
must the ask price reach 0.00157780 to get my order fullfilled ?
Sorry noob....
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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ActiveP
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October 06, 2017, 09:58:24 AM |
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I was buying a coin on bittrex, looking at the order book
ASK: PRICE 0.00158400
BID : PRICE 0.00157780
I wanted to buy it so I put an order at current market price (last offer) but it has not been fullfilled yet , does this mean that people don't want to sell (now), so there is more buying pressure?
must the ask price reach 0.00157780 to get my order fullfilled ?
Sorry noob....
Yes, what it basically means is that nobody at bitrrex is buying at your price. If you need them exchanged quicker, you need to take them at other peoples prices. Otherwise, be patient, and depending on the going market rate, someone will take you on. |
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treepixel
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October 06, 2017, 10:26:12 AM |
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Usually if it's just a few satoshi difference it's quicker to just pay the current bid price and have the buy go through instantly. Else you gotta wait for the price to come down.
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MMysterious
Sr. Member
 Offline
Activity: 972
Merit: 255
Bear season or just the beginning
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October 06, 2017, 10:31:57 AM |
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Yes usually that's what happens most of the time, and nobody usually buys the last price offered. Or it may take some time especially if the coin is not moving or there are no new updates tendency would be your coin will just stay there until someone buys them at your price. Anyways you can just cancel that order and sell them at its bid price so it'll be bought right away.
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renes
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October 06, 2017, 10:33:06 AM |
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Usually if it's just a few satoshi difference it's quicker to just pay the current bid price and have the buy go through instantly. Else you gotta wait for the price to come down.
Yes that is true. Also you probably pay more fee if you wait for your order to be filled so if difference between bid and ask is very less, you can be better off if you sell your coins. |
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BitcoinHodler
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October 06, 2017, 11:22:10 AM |
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think of orderbooks as Queues.
when you place an order, you go inside a queue, and have to wait until your turn. it is a first in first out kind of situation.
so here two things are happening:
1. when you place an order on the top of buy orderbook (bids) you are placing your order after all those that already exist. so on 0.00157780 there may be 10 other orders with some total size which you can see prior to placing your own order and it needs to be filled before it is your turn.
2. nobody may sell or some others may place higher bids than you. like placing orders at 0.00157780+ 0.00000001 and be filled before you.
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Holding Bitcoin More Every Day
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green547
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October 06, 2017, 11:33:58 AM |
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just be patient, a huge amount of sellers and buyers are impatient , your order will go through.
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swoolzze
Member
Offline
Activity: 69
Merit: 10
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October 21, 2017, 06:56:15 AM |
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I was buying a coin on bittrex, looking at the order book
ASK: PRICE 0.00158400
BID : PRICE 0.00157780
I wanted to buy it so I put an order at current market price (last offer) but it has not been fullfilled yet , does this mean that people don't want to sell (now), so there is more buying pressure?
must the ask price reach 0.00157780 to get my order fullfilled ?
Sorry noob....
Yes, they don't want to sell it in that case. So you must search the details for the right price to be able to choose what you desire to ask. Keep calm and be patience to learn something about what you must ask. Be updated for the prices in the list. |
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Pierre 2
Legendary
Offline
Activity: 2408
Merit: 1358
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October 21, 2017, 08:13:39 AM |
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Yes in general these is difference between highest buy order and lowest sell order. Market automatically makes this smaller so basically noone wanna sell you coins on that price. You need to match lowest sell order for quick buy.
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trumper
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October 21, 2017, 08:37:49 AM |
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You should not wait for your order to be filled, for this gap, the best thing you can do is to sell or buy directly. Maybe price will decrease also, you can't be certain
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Francis Freeman
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October 21, 2017, 09:04:14 AM |
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I was buying a coin on bittrex, looking at the order book
ASK: PRICE 0.00158400
BID : PRICE 0.00157780
I wanted to buy it so I put an order at current market price (last offer) but it has not been fullfilled yet , does this mean that people don't want to sell (now), so there is more buying pressure?
must the ask price reach 0.00157780 to get my order fullfilled ?
Sorry noob....
Yes, it means nobody wanna buy at the price you put your sell order. Just be patient and wait until someone will put a higher price. Otherwise if you wanna sell your coins quickly just accept bid price. So "Bid Price" is the highest amount traders wanna pay to buy coins, while "Ask Price" is the lowest amount traders wanna pay in order to sell your coins. Obviously bid price is usually lower than ask price because people wanna pay less to buy coins. While "Last trade price" (or similar expressions on other exchanges) means the last trade price. |
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