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Why would you want to buy at the bid and then sell at the offer with a $1000 spread? You would lose tons of money, unless you mean you were trying to make the m
by smabie 5y ago
Why would you want to buy at the bid and then sell at the offer with a $1000 spread? You would lose tons of money, unless you mean you were trying to make the market at a tighter spread (instead of taking).
- Black101 5y agoWhen I bought at $50.5K, it was going to roughly $52k every other second... easy money (if they let you sell) ... next time I will do a screencast (right now I only have a bunch of screen shots). IE: The spread was going nuts... 1 second you could buy a bitcoin at $50k and the other you could sell it at $52k. I have a video of the spread going nuts at a different point in time, but it wasn't this bad. Even if it is a YC company, they need to regulate them ASAP.
- smabie 5y agoThat's not how spreads work, an order book can never be in cross. Orders that are in cross are matched and removed from the book. You could buy at 52k and sell at 50k, not the other way around.
- Black101 5y agoWhen the spread is $1k, the actual price that you can buy at changes really fast... 1 second, I could buy at $50k and the next second I could buy at $51k, AKA the last trade price.