Bitcoin Price varies - Who's to use?

[golfdoug]

I have noticed prices vary for the current price of BTC on various websites.
Is there a way to have one "more accurate" quote for the same Bitcoin?

[DannyHamilton]

They are all accurate.

Each site has a different price, and they accurately report their price.

[golfdoug]

Thanks Danny
So does that allow a "Trader" to sell their bitcoins on one exhange and buy bitcoins at a lower price on another exchange?  Just trying to understand the buy / sell basis.  D

>They are all accurate.

>Each site has a different price, and they accurately report their price.

[krishnapramod]

Thanks Danny
So does that allow a "Trader" to sell their bitcoins on one exhange and buy bitcoins at a lower price on another exchange?  Just trying to understand the buy / sell basis.  D

>They are all accurate.

>Each site has a different price, and they accurately report their price.

That is Bitcoin arbitrage, a trading strategy, buying bitcoins from an exchange where the price is low and selling it at an exchange where the price is high. It's a good strategy to make some quick bucks, but you need to have both bitcoin and cash on the right exchanges at the right time. Difference in price, verifications, cash deposit, transaction confirmation time, difference in fees, a slight delay is enough to lose the arbitrage opportunity.

[Kprawn]

It depends on what exchange price they are using. You can see the sources for example Preev.com when you click on the settings

button : Bitfinex / Bitstamp / BTC-E /  ..... You will get the most accurate price, when you take the average of the biggest

exchanges in the world. Bitcoin's price is based on supply & demand and this differ from country to country. 

[DannyHamilton]

So does that allow a "Trader" to sell their bitcoins on one exchange and buy bitcoins at a lower price on another exchange?

Yes.