Quote from: RandomUser456 on March 14, 2014, 07:12:38 PM

People are getting confused with the value I think, its not at 1 because people are trying to buy at 1, its there because people are selling at 1!

I could leave a buy order there forever, but if no one sold at less than 10, the order would never fulfil.

You would then get people who want the coin to buy at the lowest sell price, which would be 10.

People saying we shouldn't be buying at 1 should be telling people not to sell at 1 instead.

That's not really true. What you're not thinking of is the simple fact that most people look at the recent transactions to get an idea of what the coin is currently going for. A buy and a sell are the same thing, not sure why people get confused about that. Every time someone "sells" a coin, someone else is "buying" it.

When someone looks at the last 30 transactions and they all were for the rate of 1 satoshi, they are not going to buy at 5, 10, or 100. Not a chance. They will put up a buy order or come back and check later, expecting/hoping to get the same price that the last 30 people got. So whether you are buying or selling, at 1 satoshi, you are basically bending flappycoin over and sodomizing it.