Topic: What is the point of Coinbase Bitcoin exchange??? (Read 1591 times)
The exchange allows active trading with the ability to store dollars on the site. This facilitates being able to get in and out of the market quickly if you are an active trader. You cannot do that with the regular Coinbase site.
I'm not really sure I understand your view about the market price.
People want to be able to buy bitcoins when the price is low and sell when it gets high. Simple as that. 
Buy on coinbase @240 when price goes to 250 sell. 10 dollar profit. If it goes down it becomes a loss.... If you sell low
In fact, no one, okay, less people willing to refer to coinbase bitcoin price. if ot down, which just says that the price on other btc/usd exchanges is falling, as bitstamp lakebtc btc-e etc.
Buy on coinbase @240 when price goes to 250 sell. 10 dollar profit. If it goes down it becomes a loss.... If you sell low
This may be a dumb question, but what is the point of a bitcoin exchange like coinbase new exchange? All traders are doing is exchanging BTC for USD. Seems like most trades are around market price. So why don't people just buy bitcoins at market price on Coinbase?
Like, no one is going to sell a Bitcoin for $1000, so there is no money to be made.
Am I missing something here? This is a serious question. Please explain to me what the point of coinbase exchange is at the present? Thanks
Like, no one is going to sell a Bitcoin for $1000, so there is no money to be made.
Am I missing something here? This is a serious question. Please explain to me what the point of coinbase exchange is at the present? Thanks
If you're serious then I think that you are missing something. The price of bitcoin is always in flux. You said why dont people just buy "at market price". Well, they do. But people may have differeing ideas about what the market price is, and that price varies. Exchanges allow people to hash that out in real time. You say 'no one will sell a bitcoin for $1000' (I'm guessing you mean no one will buy one at that price because I'd certainly sell a bitcoin for 1000$ at the time of this message), however, I may go onto an exchange and offer a bitcoin at 1000$ and when (if) the "market price" changes, ie, when someone walks along willing to pay that, my trade will go through.
In sum, exchanges allow for the "market price" to be discovered. There is no "market price" without the buying and selling at whatever price people are willing to buy/sell for on a certain moment.
coinbase is an exaggerated point, speculators could take use it to manipulate prices
This may be a dumb question, but what is the point of a bitcoin exchange like coinbase new exchange? All traders are doing is exchanging BTC for USD. Seems like most trades are around market price. So why don't people just buy bitcoins at market price on Coinbase?
Like, no one is going to sell a Bitcoin for $1000, so there is no money to be made.
Am I missing something here? This is a serious question. Please explain to me what the point of coinbase exchange is at the present? Thanks
Like, no one is going to sell a Bitcoin for $1000, so there is no money to be made.
Am I missing something here? This is a serious question. Please explain to me what the point of coinbase exchange is at the present? Thanks
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