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Author Topic: What is the best data for BTC-USD conversion rates?  (Read 2286 times)
barbarousrelic
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January 21, 2011, 04:32:56 PM
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Is mtgox the best, most reliable place to look? Is it the highest volume exchange?

Are there other recommended places to look for second opinions?

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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pc
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January 21, 2011, 04:38:00 PM
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I look at bitcoincharts.com, which I think covers the main exchanges. But the Mt. Gox price there is what I look at the most, as it looks to me to have the most volume.

I find the Order Books there more useful than the most recent trade, since it's really a better indication of the range that people think the price is. And of course, like all currencies, the price is what people think it is.
Stephen Gornick
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January 21, 2011, 06:11:26 PM
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I look at bitcoincharts.com, which I think covers the main exchanges. But the Mt. Gox price there is what I look at the most, as it looks to me to have the most volume.

Of course, if you believe the price shown at Mt. Gox reflects the scarcity of LRUSD more so than it reflects the market price of bitcoins, then that source of data is not terribly useful:
  http://bitcointalk.org/index.php?topic=2903.msg40006#msg40006

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morpheus
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January 21, 2011, 06:16:08 PM
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Of course, if you believe the price shown at Mt. Gox reflects the scarcity of LRUSD more so than it reflects the market price of bitcoins, then that source of data is not terribly useful:
  http://bitcointalk.org/index.php?topic=2903.msg40006#msg40006

But you can buy Mt. Gox USD for other currencies besides LRUSD. I'm not sure the prices really reflect the scarcity of LRUSD anymore. Though it still takes time to get Mt. Gox USD with other exchanges.
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January 21, 2011, 06:18:09 PM
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The price is much closer to paypal dollars than it is LRUSD.

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