It's difficult to trust exchanges. They do so many shady things now like pump and dumps. For example: they will block all incoming deposits for a certain coin so their own bags can be dumped on the market. It's very difficult to trust these low cap coins with all the pump and dump action, thats why I prefer to stay in btc.
uh, 1 syscoin was 96 BTC at one point a short while back.
that's a little more warped than the usual exchange crap. someone somewhere has been screwing with things somehow.
Imagine if you are buying 0.000000000000000001 syscoin at 96 btc for each syscoin price and what's the different?
I have seen this so many times on DEX just like forkdelta and etherdelta.
Someone just creating another joke order at the same time.
i don't know exactly how these decentralized exchanges you named work but in centralized ones like Binance the orderbook is a
queue not a "choose whatever you want" line. which means if there are 3 sell orders like this (prices):
00.00004400
00.00040000
96.00000000
you first have to fill the first two orders on top before reaching the third one. and filling those two requires spending money. even if you execute an order on 96
BTC price the system will automatically fill the first order and if there was anything left it will fill the next and next,.... it doesn't let you fill the last one.
now in reality there aren't just 2 orders there are A LOT and it will take A LOT of money to get there.
i think decentralized exchange and centralized exchange like binance have a same work like you said. in DEX there are also queue in orderbook, so idk what's going on in binance but today i read the news in here