Hello,
Quick question? If you put down say 10 BTC to sell or 10 BTC to buy. Or a large ammount. Will that trade get taken or at least fractions of it.
Or only someone looking to buy 10 btc at 6700 will get that trade and it can be say 1 BTC at 6700 , 1 BTC at 6650 and so on?
Thank you
Let's say somebody wants to buy 10 BTC no matter what the price is. Then he will buy the cheapest sell orders until the SUM of 10 BTC. This may be for example 8 (sell) orders of 1 BTC each and 2 BTC from a large 20 BTC sell order.
In reality the price does matter and it becomes a bit more complicated. He will try to buy the cheapest orders under the specified price until the SUM of 10 BTC. If the SUM is not fulfilled, the part the was not fulfilled will become a new buy order at that specified price and will stay there until others fill that order (sell at that price) or the initial buyer cancels that PART of the order. When the sellers will fill that order (part), again, they may fill the entire order or parts of it, until it's "depleted".