651 sats \ 3 replies \ @k00b 15 Oct 2023 \ on: How do exchanges acquire bitcoin? bitcoin
Someone probably knows, but isn't this what market makers do and get paid handsomely for? And exchanges are kind of an interface for an aggregate of market makers?
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10 sats \ 2 replies \ @kepford OP 15 Oct 2023
Yeah that makes sense. But you'd think with all the talk about how easy it is to track bitcoin onchain that this would be easy to document.
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10 sats \ 1 reply \ @ek 15 Oct 2023
I don't think exchanges do onchain transactions for trades, only for deposits and withdrawals
Or I might have gotten you wrong
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21 sats \ 0 replies \ @kepford OP 15 Oct 2023
Yeah not what I'm talking about. I'm almost 100% sure all trading is offchain. What talking about if the onchain record of bitcoin before a user withdraws their bitcoin. Showing where to exchange received the bitcoin they are sending to users.
If it was sold to them by miners then that should be easy to track. I'm just speculating.
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