CoinCola is an over-the-counter (OTC) platform for Digital Asset trading.
CoinCola is an over-the-counter (OTC) and Exchange platform for Cryptocurrency trading developed and operated by CoinCola Limited. The Hong-Kong based company is on a mission to deliver the most reliable and convenient services for users from all over the world.
Why exchange rates for bitcoin differ so much on different currencies
I'm not sure if I should post there or on some trading subreddit, but here it goes: Note: I'm pretty sure this will seem like really stupid question, please be gentle I want to get in bitcoin, I have no background in trading or whatsoever, but I noticed couple things that I find weird. For example on GDAX atm BTC-USD rate is 6606, BTC-EUR rate is 5773. 5773 EUR is ~6713 $. For stupid me, it looks like an obvious way to to make money by buying btc in usd rate and trading them back for euros. What am i missing? Are GDAX fees too high to make it possible? Or?..
I've recently became interested in using bitcoin ATMs, but I'm a bit skeptical if it's worth it considering the high fees and exchange rates I hear. I don't know how high/expensive these are though, so could someone tell me an average exchange rate or fee for using a bitcoin ATM?
How are the markets (exchange rates) for Bitcoin vs other currencies initially made?
I feel like I need the disclaimer that I have BTC and I support BTC so don't read too much into this question. I understand markets, simplified it's a push and pull between what someone is willing to pay to obtain it and what something is willing to accept to part with it. Traditionally, using the stock market as an example (FOREX might be a better example, but I don't have a lot of experience in that area), there is a fundamental analysis of the value of the company as book value that sort of sets a starting point for the price of the stock associated with that company. After that growth expectations, earnings, and other information influences the price one way or the other. I get how the price influence happens with BTC, but what I don't really understand (and this may be due to thinking of it in terms of stock market when it's more FOREX) is where the initial value starts? I tend to use Coinbase to buy BTC (have never sold) and I see that they are close to the value in USD as other exchanges. Where do these exchanges get the ballpark for the BTC/USD? They tell me it's 600 so that's what i pay to obtain BTC, they tell me 300 so that's what I pay, etc. and it's struck me recently that I've been so excited to obtain BTC to use that I've been somewhat irresponsible in my due diligence. I have no idea where their numbers are coming from. Recently I've been reading about "whales" that make giant moves outside of the traditional exchanges and that just throws another wrench into the works as far as understanding it. This is anecdotal, but the entire reason I got into BTC was to have a legal avenue to poker sites. That is one of the reasons I didn't care about the exchange rate too much because as long as the poker site was using the same rate as the exchange it didn't matter. Now I've found myself trying to keep back some BTC, really just to have it to see where it goes. After seeing it's potential in the poker scene, it's got me excited to see what else can be accomplished with BTC (not in a shady way), but in a cut out the middleman type of way in digital transactions. I'm not sure if my personal experience is indicative of the overall population, but don't underestimate the pokesportsbetting/gambling community's effect on the popularity of BTC. TL/DR; Where does/did the initial price of BTC come from and how do the exchanges act as market makers?
An easy way of checking the current exchange rate for Bitcoins to any currency from your phone.
Just send an email/text message (pretty much all phones can send sms messages to email addresses) to [email protected] with the desired three letter currency code and you should receive a response with the exchange rate in about a minute. I made this for myself so that I could check the price of bitcoins whenever I wanted (at school). I thought some other people might find this handy. I'll take any suggestions for more features into consideration.
I know I’m gonna get all the hate for this like I for sure chose to ignore the signs. But I just wanted to post this bc when I looked up “scam” on this sub I didn’t see anything similar. So I made an original post asking if someone had a dealer in SWLA. Bad idea to begin with. I get two messages from two different redditors telling me I should take the post down for my own safety and they BOTH referred me to two different people on the “Telegram” app. Never heard over telegram before tbh I don’t need anything more than texting to talk with people. So I was like ok...and messaged both the guys on that app. Right off the bat thought it was weird that under their usernames in the chat it had said “hasn’t been seen in a long time”. The other option is “has been seen recently”. So. They both respond to me and say “$50/5g”. One responded sooner than the other so I just went with that guy. Told him I wanted 5g blue 5g northern lights and he said ok the total will be $100. I was like yup. How do I pay you. How do I get it? He said you pay through bitcoin and you get it to your mailbox. I was like...my mailbox is at a post office y’all ship through USPS? He told me don’t worry bout it.... So I go through like a freaking hour of figuring out how to send him bitcoin...finally did. I didn’t know the exchange rate for bitcoin was so HORRENDOUS. like mind you idk shit about bitcoin. Literal shit. So I loaded my bitcoin or wtf ever with $150 but by the time the transaction fee was added I could only send like 99.50. I told him that and he was like “that’s not my min” I was like ok well I thought 150 would be enough for 100. And he said “me too”...like if you do this all the time you’d know roughly the exchange rate. I was like ok well now what. And he said just send it it’s not a problem. So. I did. Then he sends me a list of his prices for other drugs. Meth, heroin, MDMA, shrooms, LSD, coke, oxy. I was like I don’t need any of that but thanks. So he sends me some other persons username and some “code” to send that guy so he’ll “know” or something idk. So I message that guy and he asks for my location. I gave him my PO Box bc I was told that’s how it was being delivered. He asked for my add so I gave him some random address bout 20 miles from my actual house bc at this point I was getting sketched. (Took long enough) he says “checking location” so I wait. Then he messaged me back saying “Dude right now I can't deliver 100$ now due to the current situation the minimum package I can take the risk and get to your location is 500$ package. Return to him and top up your package” I was like uhhh. Can we meet up somewhere? Said he worked anonymously so I was like word I get that. Then he says “Go meet him now. I don’t have much time here”. Much time here.....dude....what??? So the original guy messages me like as soon as the “delivery guy” tells me I gotta spend 400 more dollars lol He said “we got a little problem now” and I was like yea I see that. He says “he has been running this for me bro” and I said wym he says “Or what we can do now meet up his requirements. His sure and fast.” Lmao. I just didn’t message back. So he says “He said what he can deliver to your location is 500 worth deal because his colleagues are taking order above 1k and I hqve to talk him down because it’s your first time” I said “well I can’t go up anymore I bought what I bought so idk wtf you wana do” And he just said “let me know whenever you’re ready” Bro. Like I just got scammed out of $150. And it’s all my fault for being gullible as FUCK. I’m scared to even post this bc there’s obviously a bunch of little minions on here. Ight. Cue the hate. I just hope if someone else in the future searches “scam” or “telegram” they’ll see this and consider. Peace ✌🏼
Absent record of price On Aug 04, 2020, as far as I know for the first time in history, Yahoo Finance! does not have any record of the exchange rate neither for BTC-EUR nor for BTC-USD. What may be the cause? What happened on that day? (x-post from /r/Bitcoin)
Options for a merchant who accepts Bitcoin to lock in the exchange rate at time of purchase and convert to fiat ?
Assuming the merchant has a wallet and has the point of sale set up already, what are the best options at this time for them to be able to convert to fiat, or at least to be able to lock in the exchange rate at the time the sale is made?
The market for selling hash rate in exchange for Bitcoin has undergone staggering growth in the epoch since the last halving. There is almost 100 times the level of competition today as there was four years ago, up 125 exahashes from 1.4 exahashes
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