Why Mt Gox Chart?

[philip2000uk]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

[Rannasha]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

MtGox is an exchange. Its users decide for how much they want to buy or sell their coins. That determines the price.

MtGox is not the only exchange, it's not even the biggest anymore. BTCChina is the biggest, but is aimed at the BTC/CNY currency-pair, while Bitstamp is now similar in volume compared to MtGox and focuses on BTC/USD.

There is no single authority that determines the bitcoin price. It's a game of supply and demand across multiple exchanges.

[MaxBTC1]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

Its an exchange so the buyers and sellers dictate the price.

If no one used the site anymore, the price would depend on whether there was a proportionally larger decrease in buyers or sellers. 
sellers > buyers the price goes down
buyers > sellers the price goes up

That's basic supply and demand.

[philip2000uk]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

MtGox is an exchange. Its users decide for how much they want to buy or sell their coins. That determines the price.

MtGox is not the only exchange, it's not even the biggest anymore. BTCChina is the biggest, but is aimed at the BTC/CNY currency-pair, while Bitstamp is now similar in volume compared to MtGox and focuses on BTC/USD.

There is no single authority that determines the bitcoin price. It's a game of supply and demand across multiple exchanges.

Thanks, i guess they are the main places that everyone even indirectly goes to  

[philip2000uk]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

Its an exchange so the buyers and sellers dictate the price.

If no one used the site anymore, the price would depend on whether there was a proportionally larger decrease in buyers or sellers. 
sellers > buyers the price goes down
buyers > sellers the price goes up

That's basic supply and demand.

Yea so just check the exchanges where most of the coins come from.  The source mainly being mt gox and the china one.

[porcupine87]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

Its an exchange so the buyers and sellers dictate the price.

If no one used the site anymore, the price would depend on whether there was a proportionally larger decrease in buyers or sellers. 
sellers > buyers the price goes down
buyers > sellers the price goes up

That's basic supply and demand.

Yea so just check the exchanges where most of the coins come from.  The source mainly being mt gox and the china one.

Look at here:
http://bitcoincharts.com/markets/
http://bitcoincharts.com/charts/volumepie/

[porcupine87]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Thanks

Its an exchange so the buyers and sellers dictate the price.

If no one used the site anymore, the price would depend on whether there was a proportionally larger decrease in buyers or sellers. 
sellers > buyers the price goes down
buyers > sellers the price goes up

That's basic supply and demand.

Yea so just check the exchanges where most of the coins come from.  The source mainly being mt gox and the china one.

Look at here:
http://bitcoincharts.com/markets/
http://bitcoincharts.com/charts/volumepie/

As you can see, the last 24h on btc-China was more trading than on the 3 largest BTC-USD platforms (mtgox, bitstam, btc-e). On other days mtGox as the lead.

[philip2000uk]

Does mt gox get it's info from it's own site as to what the buy and sell prices should be world wide?

What if no-one uses that website anymore, what is the world price going to be?  Where else can we get a real graph of what's going on?

Its an exchange so the buyers and sellers dictate the price.

If no one used the site anymore, the price would depend on whether there was a proportionally larger decrease in buyers or sellers.  
sellers > buyers the price goes down
buyers > sellers the price goes up

That's basic supply and demand.

Yea so just check the exchanges where most of the coins come from.  The source mainly being mt gox and the china one.

Thank you  

Look at here:
http://bitcoincharts.com/markets/
http://bitcoincharts.com/charts/volumepie/

As you can see, the last 24h on btc-China was more trading than on the 3 largest BTC-USD platforms (mtgox, bitstam, btc-e). On other days mtGox as the lead.

Thanks Porcupine, looks like an interesting system