Topic: Who does the bitcoin accounting? (Read 264 times)
I think the exchange sites may have the authentic source in getting it's data in relation to btc market such as common reference from the other existing exchange sites like CMC, CoinGecko, bitmex, coinbase and Kucoin which is the btc blockchain technology. In my opinion, I believe that there is an admin for btc market that does the accounting computation and market adjustments.
Hey
A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.
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A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.
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I think they are based on technology, algorithms that the developer has written to display the floor trading volume.
Bitcoin has a fixed volume of 21 million with about 16 million in circulation with this you can see that it is easier for the total amount of bitcoin being traded to be known through various miners using the blockchain. The blockchain is open to the public it is not secret which makes it possible to know the total that was mined in a day , week or month. Blockchain helps to calculate the total volume and that is the beauty of the technology.
The only exact data we are getting are from the blockchain. I strongly believe that most of the computation from known sites all came from blockchain like what the current exchangers are currently doing. Which they will only based datas on their market alone.
Therefore there is no exact accounting unless you want to create your own computations. That is what making bitcoin a decentralized by logic.
Therefore there is no exact accounting unless you want to create your own computations. That is what making bitcoin a decentralized by logic.
every person above is completely wrong
there is no accounting of the market cap
there is no actual bank accounts holding the market cap dollar
there is no complicated algo
the market cap is simply the latest price a bitcoin was sold for multiplied by the number of coins in circulation
and that is it.
the market cap is not anything special
i can make a coin tomorrow with 1 trillion coin circulation and sell 1 coin(yes just one coin, ever) for $5 and instantly the market cap of a coin i could make would become $5trillion.
again there is no bank account hoards backing up bitcoins market cap. when someone sells a coin, the buyer puts their money in and a seller takes their money out. exchanges only hold value traders have temporarily until they withdraw it
the exchanges only hold temporarily the dollar of the buy and seller.
not all 17m coins are on the market to sell
and not 17million coins worth of bitcoin buyers on the market at anyone time
the volumes(separate category from market cap) do not indicate how many buyers/sellers.
the volumes are just about how many trades are done that day, and done over the multiple exchanges and added up.
but those volumes could be just a few traders buying at X and selling at X+y% to make a small y% and if the price moves down enough the seller buys again at X and if the price moves up sells at X+y% and just repeats.
sometimes the volumes appear higher but are just made up of a few people repeat buying and selling over and over again using arbitrage EG buy at X sell at X+y then see price is still X on another exchange so buy at X move it to an exchange that is selling at X+y then repeat
volumes are not an indicator of population interest or of how many unique coins are being sold.
again the 17mill coins in circulation are not all in exchanges so the market cap is a meaningless total
and the volume could be a small amount of traders just arbitraging over exchanges and not unique investor demand
there is no accounting of the market cap
there is no actual bank accounts holding the market cap dollar
there is no complicated algo
the market cap is simply the latest price a bitcoin was sold for multiplied by the number of coins in circulation
and that is it.
the market cap is not anything special
i can make a coin tomorrow with 1 trillion coin circulation and sell 1 coin(yes just one coin, ever) for $5 and instantly the market cap of a coin i could make would become $5trillion.
again there is no bank account hoards backing up bitcoins market cap. when someone sells a coin, the buyer puts their money in and a seller takes their money out. exchanges only hold value traders have temporarily until they withdraw it
the exchanges only hold temporarily the dollar of the buy and seller.
not all 17m coins are on the market to sell
and not 17million coins worth of bitcoin buyers on the market at anyone time
the volumes(separate category from market cap) do not indicate how many buyers/sellers.
the volumes are just about how many trades are done that day, and done over the multiple exchanges and added up.
but those volumes could be just a few traders buying at X and selling at X+y% to make a small y% and if the price moves down enough the seller buys again at X and if the price moves up sells at X+y% and just repeats.
sometimes the volumes appear higher but are just made up of a few people repeat buying and selling over and over again using arbitrage EG buy at X sell at X+y then see price is still X on another exchange so buy at X move it to an exchange that is selling at X+y then repeat
volumes are not an indicator of population interest or of how many unique coins are being sold.
again the 17mill coins in circulation are not all in exchanges so the market cap is a meaningless total
and the volume could be a small amount of traders just arbitraging over exchanges and not unique investor demand
Liquid seems sick, Lightning keeps picking up momentum, and institutional buyers keep gaining new avenues to enter the market.
Who cares about the price, Bitcoin is becoming stronger by the day. It's becoming more usable, and the next halvening is getting closer - prices will rise again eventually.
Who cares about the price, Bitcoin is becoming stronger by the day. It's becoming more usable, and the next halvening is getting closer - prices will rise again eventually.
"bitcoin becoming stronger by the day", As you have all the other advancement in blockchains, Ethereum, eos, lisk, the blockchain community is getting stronger definitely, but for me bitcoin on its own is probably getting weaker by the day.
The values are taken from the trading volume on exchanges. This figured are gotten from the amount of supply and demand, which determines the amount of money in circulation (market capitalization).
Adding this point.
If you take a look, you'll find different figures from CMC, Coingecko, Coincodex or others market cap site. This means they have a different algorithm, or they judge the data differently. Because of this, you should not believe only one site, try to use more than 2 site for data comparison.
Yes, calculating market capitalization of cryptocurrencies can be very tricky. It is certainly not true that the whole sum of market cap could be converted to real fiat liquidity - some coins are locked after ICOs and even if people decided to sell lots of coins, there would be no buy side and price would plummet.
Liquid seems sick, Lightning keeps picking up momentum, and institutional buyers keep gaining new avenues to enter the market.
Who cares about the price, Bitcoin is becoming stronger by the day. It's becoming more usable, and the next halvening is getting closer - prices will rise again eventually.
Who cares about the price, Bitcoin is becoming stronger by the day. It's becoming more usable, and the next halvening is getting closer - prices will rise again eventually.
Since it is a high-end algorithm, no one can do this. All are calculated through market volume and operation by supply and demand.
The values are taken from the trading volume on exchanges. This figured are gotten from the amount of supply and demand, which determines the amount of money in circulation (market capitalization).
yes all are calculated through market volume in each exchange, coinmarketcap certainly has worked with many well-known exchanges so that their system can calculate the entire world crypto currency trading, this is certainly not done by ordinary people, they calculate using a programmed system 
The values are taken from the trading volume on exchanges. This figured are gotten from the amount of supply and demand, which determines the amount of money in circulation (market capitalization).
Adding this point.
If you take a look, you'll find different figures from CMC, Coingecko, Coincodex or others market cap site. This means they have a different algorithm, or they judge the data differently. Because of this, you should not believe only one site, try to use more than 2 site for data comparison.
No one does this (in vain), so we can judge the arrival of major players on the market only from rumors.
The values are taken from the trading volume on exchanges. This figured are gotten from the amount of supply and demand, which determines the amount of money in circulation (market capitalization).
As we all know that there is a huge money flowing in the bitcoin coming from the investors or contributors around the world but my question is who are those people or team doing the accounting that is being displayed on coinmarket cap volume? Is the money being accounted do really exist like it is more than 200 Billion USD and it could go more up to 1 Trillion is possible for the bitcoin system depending on its demand. Who does the bitcoin accounting?
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