17
votes
Accepted
Where is the BTC price "stored"?
There is no "the" BTC price.
There are exchanges, where people offer to sell and buy BTC for USD and other currencies, at certain prices. Those exchanges generally report the last price at ...
- 82.8k
2
votes
Accepted
Confusion of Bitcoin Exchange Rate
Your current understanding is correct, but incomplete. If the current price of bitcoin is $50k, no one has open offers to sell at $49k. Instead, there will exist buy offers at $49k. When a seller ...
- 499
2
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Where is the BTC price "stored"?
This has been mentioned in other comments, but I thought it would be good to highlight it further: the answer to this question is exactly the same that for any other commodity.
Commodity means an ...
2
votes
Where is the BTC price "stored"?
The price is the equilibrium between all buying and selling orders. People offer to buy or sell their Bitcoin with a positive or negative premium. When you consolidate all these prices (e.g. market ...
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1
vote
Confusion of Bitcoin Exchange Rate
If the price of bitcoin is $50,000, there will be lots of people willing to buy a bitcoin for $49,000 and lots of people willing to sell a bitcoin for $51,000.
Now, say the price of bitcoin is $50,000 ...
- 50.7k
1
vote
Bitcoin price history data
I think you have to use a third party API. A price is just what an exchange or multiple exchanges see in real time when supply (sellers) and demand (buyers) meet at a certain price. So there is no ...
- 9,365
1
vote
Why did the price of bitcoin increase so dramatically?
Bitcoin is a digital asset that is impossible to counterfeit, easy to transfer globally, and scarce: the bitcoin supply is strictly limited to less than 21 million. Bitcoin is akin to cash—payments ...
- 62.4k
1
vote
Is price volatility necessarily a bad thing?
Volatility is indeed a shortcoming for an asset to be the basis of a monetary system. Money aims to solve the problem of double coincidence of wants in barter by acting as a medium of exchange. And to ...
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