ELI5 how the price of bitcoin(any crypto) on an exchange is determined
I'm assuming it has to do with supply and demand, but is there some type of mathematical formula? A guy behind the scenes saying "eh, increase price" etc. how does it control itself?
ELI5 Why a drug dealer would exchange valuable drugs for bitcoins
Bitcoin isn't backed by any governments, and can only be expressed/redeemed in the virtual world, so why would a drug dealer choose to give physical substances for 0s and 1s instead of fiat or precious metals?
ELI5 Can someone please explain how the price of Bitcoin in Fiat is decided, what causes shifts in price and why different exchanges have similar but different prices?
The following post by brewferbrains is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7kz4gb The original post's content was as follows:
[uncensored-r/Bitcoin] ELI5: Moving your coins off an exchange
The following post by Jvan1231 is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7ga8km The original post's content was as follows:
Currently using coinbase thinking about moving my coins off the exchange due to a lot of you guys recommended it but don't know how
[uncensored-r/Bitcoin] ELI5 Why is there a difference in BTC/USD between exchanges?
The following post by GuitarManGod is being replicated because the post has been silently removed and some comments within it have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7injk1 The original post's content was as follows:
Hey all, Bitcoin newbie here. Looking to understand a little better
08-02 19:32 - 'ELI5: Explain how a block split would NOT bankrupt an exchange?' (self.Bitcoin) by /u/jhawkfootball06 removed from /r/Bitcoin within 0-6min
''' Something I don't understand is how the BTC/BCH split could not bankrupt an exchange if everybody decided to sell? If everybody decides to sell for fiat, how could that not bankrupt them? People didn't buy these BCH coins, they were given them by the split and now as they are worth between $300-$700 depending on what exchange you are looking on. Something you cannot create out of thin air is fiat. ''' ELI5: Explain how a block split would NOT bankrupt an exchange? Go1dfish undelete link unreddit undelete link Author: jhawkfootball06
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