In 24 hour markets High and Low usually mean "highest/lowest price in last 24 hours".
Open generally refers to the price at 12:01 AM UTC of any given day and close generally refers to the price at 11:59 PM UTC of any given day.
Decentralized – there is no single point of failure.
Safe – Bitsquare never holds your funds.
Instantly accessible – no need for approval from a central
Private -no one except trading partners exchange personally
Open – every aspect of the project is transparent.
Easy – we take usability seriously.
The short answer is momentum.
Imagine for a second that you are a neutral observer and you see that the price of Bitcoin has been rising over the past few days. Even if you have no reason to think it will continue to rise over the long term, it makes sense for you to buy Bitcoins. After all, it's unlikely that the rise will end just as you buy, and if the ...
I find this article convincing in its analysis of the dynamics between Bitcoin and competing networks: The Coming Demise of the Altcoins
To summarize briefly, the author suggests:
The utility provided by a currency system is related to the willingness of its users to save using that currency.
Currencies have a strong network effect.
Most altcoins don't ...
The Bitcoin price is the result of a free market. There is no central authority that could by order "pump money into the system".
This currently happens anyway - but decentralized. When more people buy Bitcoins the market cap increases. With a higher market cap a single trade has a lesser effect on the price. Therefore, over time when Bitcoin attracts more ...
As with any traded commodity the price largely depends on the confidence of the buyers and sellers in the future evolution of the price. Basically you pay whatever you feel it is worth. Like stocks this changes over time, as the company or the bitcoin economy in our case evolves.
The wild price swings are not that really that surprising then when it is ...
Because the demand for bitcoins is largely driven by speculation, i.e. people buy bitcoins in the hope that the conversion rate will rise so that they can make a profit.
Such speculative investors tend to exhibit herd behaviour: the more the rate falls, the more of them will sell, to realize gains or cut losses. And the more it rises, the more people want ...
BTX Trader will let you create stop-loss orders on top of your account on Bitstamp, BTC-E, Mt. Gox, BTC China and CampBX.
It's not same as an exchange-hosted stop-loss order but a close second.
Disclosure: I'm one of the founders of BTX Trader.
LTC/BTC and BTC/LTC are both ratios of purchasing one currency with another.
For example, with LTC/BTC, the price quoted is for 1 LTC (overlying) in BTC (underlying). If the price is 0.025, that is how many bitcoins are needed to purchase 1 LTC. At this price, 2 LTC would cost 0.05 BTC.
The opposite would be equivielnt to 1/x, using the example above the ...
For the Gemini exchange the closing price is at the time of their daily auction at 4pm ET.
You can read more about the auction here:
And why it is considered their "end of day" price here:
http://www.coindesk.com/winklevoss-exchange-gemini-bitcoin-auctions/ with a quote from one of their founders.
Bitcoin was the first, the most well known and thus has the most network effect.
The network effect is extremely important and there are examples were better technologies lost to the competition because of the latter's network effect.
In addition, being the oldest running crypto-currency and with the larger market cap means that it was consistently ...
I suspect it is much the same as with bubbles in other markets---but let me admit that I have little evidence for it. See the famous cartoon that is all over the net.
I think the fact that getting money on and off Bitcoin exchanges tends to be fairly slow might contribute to the bubbles we have seen. As some initial increase in the exchange rate happens to ...
This is basically how every asset in Ripple works, other than XRP.
Ripple permits anyone to create an asset and back it in any way that they choose. Others can declare their willingness to accept specific assets in payment. And Ripple implements distributed order books, payment pathfinding, and atomic multi-asset transactions to implement transfers of value....
Even commodities or stock with large trade volumes are still prone to price shocks. The Dow Jones Index for example, isn't a smooth line.
Often governments on the behalf of taxpayers in the wider economic environment will pump money into a crashing market to stabilise prices ("buyer of last resort"). Whether you believe this to be a good thing depends on ...
The Chinese are intense savers and frugal. Their interest in Bitcoin will involve relatively small price corrections.
Do you want to say the will be resistent to price drops (in the bubbles for example)?
Yes. Bubbles will still happen, but the correction would be less severe because Chinese investors tend to buy-and-hold through the ups and ...
I like this question1 - we don't get many big picture questions.
How could Bitcoin change the world?
A mature digital cryptocurrency could reduce trade barriers and thus
increase the rate of productivity dispersion throughout society. As
money is a form of fungible authenticated information2,
non-proprietary digital money gets to take advantage of the
Traditional markets are not open for trade all day, so the opening and closing price refer to the first and last price of the day. They are used as measurements for the trading activity of a day.
Since Bitcoin exchanges are open 24/7, I would expect the opening price to refer to the price at midnight and the closing to refer to the priceat 23:59:59 in the ...
There is at least one market I am aware of that covered the event although the contract language seemed to focus on the UK actually leaving the EU (which does not happen immediately) by a certain date rather than the referendum vote itself.
The prediction market below and every fiat prediction market I saw before the referendum vote predicted the "stay" ...
Chinese Bitcoin exchanges don't take a fee per trade and some actually reduce the withdrawal fee if more trades were made.
Outside of China, exchanges usually take a fee on each trade. The volumes therefore are not really comparable, and I sincerely doubt that the actual economic activity is so much bigger in China.
This is a great question and it's something I spend a lot of time thinking about. In general, I'd say no one really knows at this point and it is difficult to make more than a few guesses.
So let me have a try at that:
Banks would lose much of their ability to control the monetary supply, interest rates and exchange rate.
The financial sector would shrink ...
Like all markets the price at each individual exchange is determined by supply and demand. However in most markets when price discrepancies appear between them, it means that there are arbitrage opportunities, and the gap will quickly be closed because people can turn a profit by buying on the exchange trading lower and selling on the exchange trading higher....
First, to clear things up, it isn't up to the exchange to quote a certain price/rate. It's all up to the users of that exchange what they ask/bid for a bitcoin. For example there are two exchanges, X and Y, with both have an ask one 500 USD and a bid on 400 USD. Then person A bids a higher price, lets say 470 (instead of 400), on exchange X. Person B asks a ...
As mentioned, raw transactions are incredibly easy to screw up since you must explicitly pay yourself if you want change.
Here's a few scenarios besides unbalanced outputs which will produce huge transaction (Tx) fees:
forgetting to pay change
forgetting to convert to Satoshis in your code
misplacing the decimal (perhaps due to rounding errors)
Due to the network effect, the Bitcoin network has the most hashing power behind it, as well as the most investment in it. It had been vetted more than any other cryptocurrency, and the network is watched by more people than the others. It is also accepted by more merchants. This all adds credibility to the network's security, as well as the currency's ...
The space is so broad that your question can't really be answered easily. In general, altcoins are far more risky but offer more potential reward. In general, altcoin portfolios will require far more management to safely retain value.
Also consider that from an investment perspective, bitcoin has more in common with ethereum and dash than ethereum and dash ...
As Nate Eldredge pointed out, the chart you're looking at is denominated in BTC, while the market cap is denominated in USD.
If you look at the chart below, you'll see that the price in USD (green) behaves exactly as you describe in your question.
On the other hand, the price in BTC (orange) does not behave like you expected, because it combines the ...
10 bitcoins are worth $60,000 dollars. How can this be?
Indeed, the price has skyrocketed recently, each bitcoin is worth around $6092.00 USD as of writing this answer, it's not a glitch.
I am tempted to cash it out but feel this is illegal and the goverment is going to be on me.
It's not illegal to sell or buy bitcoins in most countries, see: https://...
The market cap is the product of the total currency supply and its instant exchange rate. If either the exchange or supply goes down, the market cap does too.
The supply generally doesn't decrease, except through things like burning coins (see this answer of mine for more information). The exchange rate of course goes up and down all the time.
Market cap ...