Post
Topic
Board Economics
Re: Coin exchange markets create the coin "out of thin air "
by
DrBeer
on 02/02/2021, 10:00:07 UTC
Coin exchange markets create the coin "out of thin air "

You first buy the 0.0001 BTC from Binance or any local coin exchange markets.
You give 3.5 dolar to Binance and Binance add 0.0001 btc to your account.
In this transaction, really, Binance gives you BTC ?
 Huh Huh

A rather strange example! Say you have $ 10. You can transfer them to your friend through the banking application for 0.1%. But you decide to order the shipment in a separate DHL box, which costs $ 100, because you need it urgently. The same strange example Smiley If you know that such a large commission - why send an amount commensurate with the transaction costs. And Binance has nothing to do with it - this is a service whose price is tied to the cost of transactions in the network + overhead costs.