True BTC 'Value' Based on Exchange Volume

Geez…In my few months with Steemit, I continue to learn that crypto is extremely multi-faceted, multi layered.

It would literally take years to learn all of the ins and outs about investing; presuming one’s interest level would keep up.

I learned long ago, and with great disappointment I might add, that not all exchanges are created equal. Of course, this is a common bone of contention with many who actually try to make everyday use of Bitcoin in lieu of fiat.

Today’s post was sparked by an interest in learning the volume of BTC traded in the past 24 hours on the Open Ledger exchange, in comparison to other exchanges. The ultimate goal was to learn which exchange offered the best ROI.

A brief search landed me at coinhills.com. I am sure there are others; but, this one efficiently yielded the info I was in search of. (The link is below.)

In my novice-based awareness of trading, I realize that the value of an asset has a direct connection to the volume; translated, the amount traded in a 24-hour period affects the value of the asset on an individual exchange.

I could only do my typical nervous chuckle while smh on viewing the stats.

Here are a few snapshots, explaining why my BTC account looks like pennies in the bucket in comparison to the overall value of the stock, currently trading ~$6700.

Let’s take a look…

At #1 is, bitFlyer:

A whopping 56.81% of BTC was traded on this exchange in a 24-hour period. This exchange is a distant first-place in comparison, as things only diminished from there on.

Coming in at a far-distant second place is Binance at 5.67%.

From ~FIFTY to 5 percent of the trading volume?…omg…

From there, at a mega-distant 3rd is Bittrex, poking in at #41.

And, a few steps down is Poloniex showing up on the board at #46.

I thought, okay #41 to #46 shows that these two popular exchanges among U.S. investors are in close competition; but, nothing of a concern to the top two; bitFlyer and Binance.

As I scrolled past #46, I thought to myself, ‘Geez, how much further do I have to scroll before I get to the exchange of interest?’

Up…

Up…

Up…

And finally, after seconds of scrolling, I landed at the Steem-friendly OpenLedger; which I currently hold my assets on. I was reminded swiftly that experience is often the most expensive, thus; the ‘best’ teacher.

I stared in ‘disbelief’ at the results…

Dear goodness…

Not five percent…

Not 13/100ths of a percent…

No, not even 8/100ths of a percent….

But, omgoodness…a sad…off the radar…

Let’s see if I can remember my math…

Tenths, hundredths, thousandths,…

Ah, here we go..

2/ten-thousandths of a percent???

That looks like 0.0002.

Omgoodness…

No wonder why my tablespoon of BTC fluctuates between a heaping to slight teaspoon in value.

I want to support the ‘causes’ of ‘friends with STEEM’-based crypto; but, clearly, this is a dose of reality. Besides, keeping it real, money and friendship have as much in common as the trading volume of BTC on OL in the past 24 hours.

Well, that’s it. I’ve learned quite a bit from this post.

In the past 24 hours, bitFlyer is the trading ‘king’ of BTC.

OL…at the time of this writing slides in at a less-than stellar #103.

Of course, logic would tell me that the small fraction traded was by the few at the top trading it on more popular exchanges trading BTC at ‘top dollar’.

Wow.

I selected OL because it didn’t require the KYC data. I was under the newbie impression that the ‘decentralized’ form of banking would be unique; and, in pure naiveté, presumed the trading field was level.

Clearly, assets on an exchange are more of a conduit to deposit into centralized banking, or hold cash-in-hand from high-fee ATMs.

Well, as I end this post, I am made more aware that all the hype about de-centralization is a mere illusion; and, the more interest the federal government shows, the more of a blurred line crypto and fiat will possess.

Well, as mentioned, here’s the link:

https://www.coinhills.com/market/exchange/rank-for/btc/

Best regards.

Peace.