Post
Topic
Board Announcements (Altcoins)
Re: [ANN][COYE] Coinye Coin - v3.0 ADDED BOUNTIES 50M & TWO NEW EXCHANGES
by
ratcatcher
on 16/02/2014, 22:13:57 UTC
Great job everyone who pitched in last night to cut down the cryptorush 1 sat buy order.

OK, I'm still fairly new to the whole cryptocurrency dealing thing so please could someone explain to me how this helps?

People offer to buy shedloads of Coinye at 1 sat and you guys rally to supply to them at that price.  That keeps the price down.

The buyers can then afford to sell again at 2 sat and still make 100% profit so the price is still low.

Wouldn't it be better to leave the 1 sat buy orders unfilled and post sell orders at a much higher price?

Or am I misunderstanding the way it works?