Quote from: Elwar on April 27, 2013, 01:29:16 AM

Quote from: aes1 on April 26, 2013, 10:52:56 AM

There are sell orders (1) for 1 BTC @ 150 USD, and another (2) for 1 BTC @ 160 USD... Now someone wants to buy both of them. So he figures that it's a good idea to put in a buy order (3) for 2 BTC @ 155 USD. What happens?

The guy cannot buy both for 155.

His order will go through on the 150 USD order and sit there with an buy @155 while the other guy has a sell at @160.

I would be pissed if I put on an exchange that I am willing to sell my bitcoin for $160 and the exchange sold it to some guy for $155.

No the seller @ $150 gets $150.
The seller @ $160 gets $160.

This sounds like it is a good algorithm that no exchange right now already has. Most exchanges right now will buy @ $150 and give you $5 back so you have $160 laying in your account, but the exchange does not have your permission to buy @ $160.

Unless you do a market order for all your money.