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Title: Quick Question about Exchange Resolution Post by: Cypherpunk38 on September 19, 2013, 12:13:25 AM I have a question about how buyers and sellers rectify exchange rate differences when doing a transaction. Let's say that a buyer says that an item is worth 0.5btc. Now, 0.5btc is worth a certain amount according to Mt. Gox. But it may be worth a different amount according to BitStamp and a different amount still according to BTC-E. Sometimes, these variances can be over $10.00 USD.
So my question is: how do buyers and sellers rectify these differences? Thanks! Title: Re: Quick Question about Exchange Resolution Post by: zekesonxx on September 19, 2013, 12:27:49 AM Buyers and sellers tend to have rates they go by, and it's a do-my-rates-or-don't-trade kinda thing.
For example, I price and sell at Bitstamp (https://www.bitstamp.net) last, instead of places like Mt. Gox or BTC-E because I think Bitstamp is the closest to market. There are plenty of others who price at Mt. Gox or BTC-E for similar reasons. Title: Re: Quick Question about Exchange Resolution Post by: sublime5447 on September 19, 2013, 12:36:43 AM http://bitcoinaverage.com/#USD|nogox
This is a good guide but the price is ultimately what you are willing to pay or what they are willing to sell for. Title: Re: Quick Question about Exchange Resolution Post by: nahtnam on September 19, 2013, 04:51:42 AM The prices are not based off of usd but Bitcoin... It's self substantial. People just assume the price in usd and then think of a fair conversion...
Title: Re: Quick Question about Exchange Resolution Post by: sasuke234 on September 19, 2013, 05:51:10 AM http://bitcoinaverage.com/#USD|nogox This is a good guide but the price is ultimately what you are willing to pay or what they are willing to sell for. wow, nice site, very useful. Bookmarked |