BitCoin / LiteCoin
Discussion
jon- said:
That's good news. I noticed £8 point increase in 24 hours on back of that news. Look like it was a good buy when dropped back to £19. Need to go above £30 again and pay for my winter holiday to the CaribbeanLaurasOtherHalf said:
Talk me through it like I'm a f
king idiot, as to be fair I don't get it 
So on the image above, why the difference in prices for what people are offering to sell them for & what people are willing to pay, or is that not how it works?
People are adding a premium above the general value for litecoins for sale. People are offering less than the general for people wanting to sell. You pick the best deal for you. I'd wait as none of those deals look good at present.king idiot, as to be fair I don't get it So on the image above, why the difference in prices for what people are offering to sell them for & what people are willing to pay, or is that not how it works?
walm said:
You're right: it's the spread.
You can buy one for £36 but once you have it, you can only sell it for £24.
So you instantly lose 1/3 of your money.
That's why the "not sure if serious" meme is appropriate when you said it was no big deal.
If you bought 100 of them (as you suggested) you would instantly have lost £1,200.
Perhaps no big deal to you but to others a punt on an unproven idea with no intrinsic value and in potential bubble territory, it could be seen as A VERY BIG DEAL.
Essentially the underlying price has to jump another 50% just for you to breakeven.
Not quite true though. The sell figures are for an instant sale. When I have wanted to sell before, I placed a BUY add for anyone looking to buy. I had to wait a few hours before some initiated a trade at the BUY prices, so not losing a third and not having to have the market move 50% to breakevenYou can buy one for £36 but once you have it, you can only sell it for £24.
So you instantly lose 1/3 of your money.
That's why the "not sure if serious" meme is appropriate when you said it was no big deal.
If you bought 100 of them (as you suggested) you would instantly have lost £1,200.
Perhaps no big deal to you but to others a punt on an unproven idea with no intrinsic value and in potential bubble territory, it could be seen as A VERY BIG DEAL.
Essentially the underlying price has to jump another 50% just for you to breakeven.
LaurasOtherHalf said:
Ok, ok, but.....
The screenshot I posted above only shows so much of the spread as I could fit on my iPad, the best spread at present is...
Buy at £27.91
Sell at £26.69
Now say I buy 100, or even just 10 for that matter. That's me, I'm in the gamble & at present the most I can lose is £122 or £12.20 if I buy only 10.
Obviously the price can fluctuate & that £122 might be £222 tomorrow but that's the gamble of the investment isn't it? If I wasn't happy with the odds I could stick it in an isa.
I've got this right so far yeah?
Yep sounds correct to me. Remember you have initiate the trade and other party has to accept. There are some decent traders on that site, others are asking far too muchThe screenshot I posted above only shows so much of the spread as I could fit on my iPad, the best spread at present is...
Buy at £27.91
Sell at £26.69
Now say I buy 100, or even just 10 for that matter. That's me, I'm in the gamble & at present the most I can lose is £122 or £12.20 if I buy only 10.
Obviously the price can fluctuate & that £122 might be £222 tomorrow but that's the gamble of the investment isn't it? If I wasn't happy with the odds I could stick it in an isa.
I've got this right so far yeah?
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