In case there’s a lag with anybody, I’m looking at the bitcoinwisdom 15–minute chart, the order book and the ticker. Right here is the order book that lets me know how many orders are in place and I’m sure you guys are aware of that, the difference between this and this here is that if you guys look on craigslist, there are two types of ads that are on there.
There’s a wanted ad and there is a for sale ads. These are the people up here that want to sell it and these are people down here that want to buy it. And I know that a lot of people look at the walls and the prices on there and everything, to me, that is nothing but a bunch of wanted ads, a bunch of for sale ads.
At any order book, whether its stock, futures, cryptocurrencies, anything, this is nothing but a bunch of ads. The guys that have the wanted ads are down here. The guys that have the for sale ads are up here. I pay attention to more so on this because if you ask yourself if I post an ad that I want to buy something, if I told you guys, hey, I’m going to go up there and buy me a new Ferrari and I’m going to put an ad out to say that I want to buy it.
Now which one has more value or which one sounds more believable or which one is a more significant piece of information to you guys. If I bring you guys an ad that says that I want to buy a Ferrari versus I bring you a receipt that shows you I just bought a Ferrari which one has more validity and which one has more significance?
The reason why the receipt of the transaction is more important than the ad is that at any time the person who puts up the ad including myself can change his or her mind. So these right here are the receipts guys, when you look at the ticker right here, the technical term for this is called the time and sale in the stock market.
Because it prints the time here that the transaction went through and prints the sale that went through in the volume of the sale. Just somebody just paid 23.62 for this amount of Litecoin.
See all these guys up here. They can put those ads and flash their ads, they can put a 1,000 here, 10,000 here. They can put a hundred here. They can do whatever they want with the ads. However, it’s not real until the transaction is complete. That’s how I look at it.