Different bitcoin rates, where is the real one?

Question

bitcoin

Guys, such a question.
I decided to read more about bitcoin.
And the first thing that caught my eye was that different exchanges have different rates for bitcoin, why is that?
Where can I watch the real rate?
And on which exchanges is it better to be authorized
bitfinex
exmo
yobit
livecoin

Answer 1

First, what is the real exchange rate? For fiat currencies (only hard currency), this is the amount in the reserve currency, for which the issuer himself is ready to buy back his own monetary units. For example, the Central Bank undertakes to buy back each of its issued rubles for 1/30 USD (in 2013, for example), this buyback guarantee provides the currency with real value, without this guarantee any currency is just candy wrappers. For non-hard currency there is no analogue of the concept of "real exchange rate", since the formally declared exchange rate in the absence of a real opportunity to implement something on it is just a meaningless figure.
Now let's move on to decentralized currencies. They do not have a specific issuer and no one guarantees their repurchase. What gives them value? Only instantaneous (for a given second) demand for them. What is the physical demand for bitcoin, for example? This is simply the amount of liquidity that stands on the exchange in buy orders at a lower rate, that is, the "meat" into which the rate will dig and rest if it starts to fall down. But the total volume of this liquidity is an order of magnitude lower than the volume of open positions in bitcoins, so the real security of bitcoin (even instantaneous) is a few to tens of percent.
As for the real rate. The exchange rate is an opportunity to return purchased candy wrappers for a certain amount of real money. Obviously, this possibility is completely dependent on the exchange. But I will surprise you even more: this possibility also depends on the volume of your position that you are closing. The number that you see on the exchange board is the opportunity to sell one satoshi (or whatever the minimum lot size is on your exchange) at this second. As soon as you try to sell more, the rate will instantly twitch down even before your order is filled. So you will never be able to sell 1000 BTC at the price of the scoreboard (and even close to it), the market will collapse earlier, it will not accept such a volume at such a price. So the holder of a three-digit BTC position must calculate a very different selling rate in their head.