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As far as I know the value of Bitcoin doesn't match the funds invested. So while the money comes from people wanting to buy Bitcoin, the value comes from "the m
by nodoro 9y ago
As far as I know the value of Bitcoin doesn't match the funds invested. So while the money comes from people wanting to buy Bitcoin, the value comes from "the market". But of course then you also have to consider where these Bitcoin comes from. The previous is only strictly true if the person making the donation is a miner or investor. It could also come from selling drugs, hacking or exit scamming.
- skybrian 9y agoThe money will come from whoever takes the other side of the trade. It's worth a million if there are buyers willing to pay for that much Bitcoin. For what it's worth, I glanced at a chart and GDAX alone seems to have done 300 million in trades over the last 24 hours. Seems like a lot? I'm wondering who is still buying Bitcoin on the way down. Or is it all day-trading?