Do Partial Purchases still push up price?

[BittBurger]

I would assume they do, but Im retarded when it comes to many things.

I know if you buy a whole bitcoin for $840 right now, you verify that next "notch" in upward price movement by "accepting" someone's price.

Does the act of buying 0.5 BTC have the same effect on pushing up the price?  Or only 50% of the effect?

Thanks.

[1714582333]

1714582333

[1714582333]

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[Kreigyr]

Certainly so; they show that someone accepts a given price. Even though you've only spent 420$, you only get half of a BTC, showing the half and not the whole is worth that 420$.

[kwest]

Yes. And the higher the price goes, the more trades will be lower than 1 BTC. The volume in dollars will remain the same, but the volume in BTC will decrease.

If the average Joe doesn't want to buy more than $200 worth of Bitcoin, most trades at a price of $10,000 / BTC will be for 0.02 BTC or less.

Edit: A slight correction - of course if there is 10 BTC to be sold for $800, and someone buys only 0.5 ... the price will remain $800 until all of those are sold and we move up the order book.

[BittBurger]

Edit: A slight correction - of course if there is 10 BTC to be sold for $800, and someone buys only 0.5 ... the price will remain $800 until all of those are sold and we move up the order book.

Okay that's what I was wondering.  So a whole offer needs to be accepted and a complete sale needs to be made before that incremental price increase registers.

[Kleptoid]

Load up goxtool (or this), smoke a joint, watch the screen. Before long you should understand.

[kwest]

Edit: A slight correction - of course if there is 10 BTC to be sold for $800, and someone buys only 0.5 ... the price will remain $800 until all of those are sold and we move up the order book.

Okay that's what I was wondering.  So a whole offer needs to be accepted and a complete sale needs to be made before that incremental price increase registers.

Depends. Let's say someone is selling BTC for $800 (ask). Someone else is willing to buy BTC for $790 (bid).
If someone holding BTC is willing to sell to that $790, the price drops. But if someone buys even 0.01 BTC for $800 after that, the price immediately goes up to reflect the most recent trade.

He only bought BTC for a fraction of that $800, but it still took a piece out of that sellers pie.
Now, to go past $800, someone would need to buy the entire pie.

[BittBurger]

Kanye is that you?   

[maurya78]

Absolutely, whether half or full bitcoin is irrelevant

[zachcope]

I would assume they do, but Im retarded when it comes to many things.

I know if you buy a whole bitcoin for $840 right now, you verify that next "notch" in upward price movement by "accepting" someone's price.

Does the act of buying 0.5 BTC have the same effect on pushing up the price?  Or only 50% of the effect?

Thanks.

You have insight into where you lack knowledge, and are therefore ahead of 97% of most populations.

[kwest]

Kanye is that you?   

You have insight into where you lack knowledge, and are therefore ahead of 97% of most populations.

This is so incredibly true. Self-knowledge is a sign of intelligence. As long as you don't put yourself down for not understanding something, it's the key to learning and growing as a person.

[chrsjrcj]

Depends on what the orderbook looks like.

If there are 1,000 coins for sale at $900, 0.5 really does nothing other than now needing 999.5 coins to push the price over $900.

I used to be able to move the price around on Bitfloor with <1 BTC (this was after the April crash). Then one day I took a nap, woke up, and saw that I had 5 minutes to convert my USD into BTC because the exchange was shutting down.