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Title: Calculation of exchange rate? Post by: GabrielZ on August 12, 2011, 02:02:12 PM Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated?
Title: Re: Calculation of exchange rate? Post by: jackjack on August 12, 2011, 02:39:06 PM It's not calculated
It's fixed by the market Title: Re: Calculation of exchange rate? Post by: nmat on August 12, 2011, 02:49:33 PM Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated? There are people selling bitcoins and people buying bitoins. Sellers want to sell at high prices. Buyers want to buy at low prices. When a seller offer meets a buyer offer, a trade is made. The current price is the price of the last trade. For example, these are the current offers at Mtgox: http://bitcoincharts.com/markets/mtgoxUSD_depth.html |