Quote from: oneredpanther on September 17, 2017, 06:16:01 PM

Quote from: Bonanzacoin on September 17, 2017, 04:54:04 PM

Well, im thinking 360 btc buy vs 16450 btc sell is not good for increase in price or how does that work then?

Im planning to buy back yes.

What you need to understand is that the '32000 BTC' of sell walls, are mostly a very low amount of EDG at insanely high prices, that you'll never reach. For all reasonable purposes they're 'fake' and can be ignored.

For example, if EDG is currently one dollar, and I put up 1000 EDG for sale at $1000, then that's a 27,000 BTC sell wall. Yes technically the numbers are true, but in practice it's totally irrelevant because the target price is so far away that it's out of the universe of consideration.

There's absolutely nothing to stop you making a sell order of 1 EDG at a trillion dollars. Boom! Now there's a 277,000,000 BTC sell wall. See how this works?

In effect, it's just a numerical distortion. You can't compare the bid and ask sides of the order book in this way; it's meaningless.

LOL, it was meant for noob traders to get scared and sell. And markets will never run out of noobs because crypto is getting larger and with it the number of noobs increases as well.