a reply to: Flyingclaydisk
after trading cryptocurrencies since july ive come to learn a few things about it that i didnt realize before
the value of a bitcoin or any crypto token at any given time is always the exact price the last one was sold for.
bitcoins are being traded on public exchanges on the internet 100's of times a minute sometimes, people post an offer when they want to sell however
much for w/e price, if someone is interested they buy it, the price of this purchase is public because its a public ledger so the details of the sale
is shared so the entire exchange and all its users can see what it sold for, and the next person to sell a coin or a piece of a coin will probably
mark theirs up a cent or so. if there are no buyers for a given time people start dropping their offer price until a buy is made, that new lower price
then replaces the previous price.
any time you google what is the current value of bitcoin you are seeing the price of the last trade on whatever random exchange,
obviously this means different exchanges will have different prices at times. this is true, there is in fact a crypto bot being created now intent on
automating trading between exchanges for the purpose of taking advantage of these price differences, which will also level those price differences,
its rialto coin, im investing in them too
so the tldr answer to your question what sets the value, the people who are willing to buy it, they set the value.
as far as forks go, theres network forks, and network upgrades, a network upgrade is essentially a soft fork its a moment when the majority of the
developers for a coin have agreed to a modification to the code which is so significant it will practically be a whole different type of coin, when
the majority of them agree to do it they call it a network upgrade, everyone who owns those types of coins will automatically have them upgraded,
but a hard fork, or network fork, happens when the majority of the developers of a coin do not agree, when the party that wants the network upgrade
decide to pursue it without the majority they hard fork the code, this is basically copying all the code of the current coin and making the
upgrades/modifications to the copied version, this new coin which is only a modified version of the old one, is given a new name, an example of a hard
fork would be when bitcoin (BTC) forked off bitcoin cash (BCH)
i dont know if ive explained this all very well?
also to those mentioning they have invested, my advice is dont risk it, hedge it. meaning, dont invest all your willing into a single coin, portion
your funds out across multiple coins, no matter how good a coins project is they are all vulnerable to downfalls, be it hacking, bugs in the code,
scammers, you never know, by spreading your investments across multiple opportunities you hedge your winnings and your loses, i have invested in
dozens a handful of which collapsed and i lost much money in them, but by paying attention to their news i was prepared to sell as they collapsed
quick enough i did not lose very much. then on the upside, other projects i had also invested in that have done well more then compensated for the
losses of the ones that didnt. im well ahead, if i had only picked one project/coin i could have lost it all.
for people who want to invest and hedge their investment but dont want to spend the time and effort following multiple projects/coins there are
actually projects just for you that will do this for you. one ive invested in is Hedge token, www.hedge-crypto.com...
their summary in PDF format, www.hedge-crypto.com...
i believe blockchain technology will and already is changing the world, i made a thread about it
tips on how to pick the good investments out from the bad ones. cointelegraph.com...
edit on 15-11-2017 by NobodiesNormal because: (no reason given)