Well...it really depends on what exchange you use and how they process orders...you didn't say which exchange.
My exchange engine I'm building won't allow you to place a sell order lower than the current buy order or vice versa. Instead, my engine directs you to perform an instant trade instead of a market order.
My exchange engine I'm building won't allow you to place a sell order lower than the current buy order or vice versa. Instead, my engine directs you to perform an instant trade instead of a market order.
Don't take this the wrong way, but this is the way you'd design an exchange if you see gambling or amusement as the primary purpose. If you see those as a sideshow around the primary purpose of buying and selling BTC, you'll do everything as limit orders.
