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Gleb Gamow

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Quote from: abhishekthakur on July 07, 2015, 09:44:31 AM

Suppose an exchange has 10 BTC in their reserve . The BTC value (say) is 300 $ , The price falls to 200 usd next day . Now how does any admin of an exchanger manage to overcome losses ?

A farmers' Co-op has a million bushels of corn in its silos. Yesterday, the corn was worth $4.57 per bushel. Today, the same corn is selling for $3.96 per bushel. How does the admin of the Co-op overcome the lose?

camelson

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Quote from: xmaxbit on July 07, 2015, 12:37:42 PM

Quote from: camelson on July 07, 2015, 10:31:17 AM

Quote from: abhishekthakur on July 07, 2015, 09:44:31 AM

Suppose an exchange has 10 BTC in their reserve . The BTC value (say) is 300 $ , The price falls to 200 usd next day . Now how does any admin of an exchanger manage to overcome losses ?

I think you are not familiar with the Exchange site, Its not the admin who will manage to fix these loss. Lets say, you and your friend (x) traded at the same time. He X put an order to sell his bitcoin at 300, and you put an order to Buy bitcoin now this exchange will occur, If nobody, put an order of selling his bitcoin, you will never be able to sell your bitcoin at that order , because there is no order at that price.

He has asked about newyork and you are explaining to him all about denmark . See the post above yours , he has already mentioned the answer . I am still wondering if bob places his cryptomoney at exchange site making him look stupid, what can be the good way then ? Lets say bob has his 10 btc stored in any exchange, and btc price falls to 1 $ per btc . Now , how will another cryptocurrency treat btc ?

Ohh my fault, i thought he is asking about how these exchange site works, didnt understand what he is asking.

xmaxbit

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Quote from: camelson on July 07, 2015, 10:31:17 AM

Quote from: abhishekthakur on July 07, 2015, 09:44:31 AM

Suppose an exchange has 10 BTC in their reserve . The BTC value (say) is 300 $ , The price falls to 200 usd next day . Now how does any admin of an exchanger manage to overcome losses ?

I think you are not familiar with the Exchange site, Its not the admin who will manage to fix these loss. Lets say, you and your friend (x) traded at the same time. He X put an order to sell his bitcoin at 300, and you put an order to Buy bitcoin now this exchange will occur, If nobody, put an order of selling his bitcoin, you will never be able to sell your bitcoin at that order , because there is no order at that price.

He has asked about newyork and you are explaining to him all about denmark . See the post above yours , he has already mentioned the answer . I am still wondering if bob places his cryptomoney at exchange site making him look stupid, what can be the good way then ? Lets say bob has his 10 btc stored in any exchange, and btc price falls to 1 $ per btc . Now , how will another cryptocurrency treat btc ?

camelson

copper member

Activity: 1386

Merit: 1000

Quote from: abhishekthakur on July 07, 2015, 09:44:31 AM

Suppose an exchange has 10 BTC in their reserve . The BTC value (say) is 300 $ , The price falls to 200 usd next day . Now how does any admin of an exchanger manage to overcome losses ?

I think you are not familiar with the Exchange site, Its not the admin who will manage to fix these loss. Lets say, you and your friend (x) traded at the same time. He X put an order to sell his bitcoin at 300, and you put an order to Buy bitcoin now this exchange will occur, If nobody, put an order of selling his bitcoin, you will never be able to sell your bitcoin at that order , because there is no order at that price.

LiteCoinGuy

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In Satoshi I Trust

when they own 10 BTC, they own 10 BTC. the dollar vallue doesnt matter.

Bob stores his 10 BTC in an exchange (stupid by the way). the next day the price of a bitcoin gets down by 40%.
Now Bob still has his 10 BTC in the exchange. Only the dollar value changed.

abhishekthakur

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Merit: 10

Suppose an exchange has 10 BTC in their reserve . The BTC value (say) is 300 $ , The price falls to 200 usd next day . Now how does any admin of an exchanger manage to overcome losses ?

Topic: I have a question . (Read 338 times)