BenJ (OP)
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November 18, 2013, 04:49:26 PM |
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Obviously there's no objective measure of its value compared to fiat currencies, but what source do most people go by?
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J3tt
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November 18, 2013, 04:52:39 PM |
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https://btc-e.com/ is my personal favorite.
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merlin3650
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November 18, 2013, 05:02:10 PM |
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It also depends on the exchange you use as well. MtGox may say one thing, but the exchange that you use may say another. My advice, use the rate from the exchange you trust. I use Coinbase.com. The highest that i have seen is MtGox, however, people don't like them because of all the problems they have been having.
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RachelManning1991
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November 18, 2013, 06:28:26 PM |
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It also depends on the exchange you use as well. MtGox may say one thing, but the exchange that you use may say another. My advice, use the rate from the exchange you trust. I use Coinbase.com. The highest that i have seen is MtGox, however, people don't like them because of all the problems they have been having.
I've been using MtGox to watch the value etc, but I've never traded/purchased anything on there. Also they require government issued paper before you are able to do anything useful.. Is that normal..? I mean, I haven't used coinbase before and I'm wondering if they also require something like that in order to sell/buy bitcoins because I'm soon looking to sell some bitcoins. |
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J3tt
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November 18, 2013, 06:37:50 PM |
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It also depends on the exchange you use as well. MtGox may say one thing, but the exchange that you use may say another. My advice, use the rate from the exchange you trust. I use Coinbase.com. The highest that i have seen is MtGox, however, people don't like them because of all the problems they have been having.
I've been using MtGox to watch the value etc, but I've never traded/purchased anything on there. Also they require government issued paper before you are able to do anything useful.. Is that normal..? I mean, I haven't used coinbase before and I'm wondering if they also require something like that in order to sell/buy bitcoins because I'm soon looking to sell some bitcoins. Yeah, I'm hesitant to use it for the same reason... I really don't like the idea of my gov't ID being tied to my BTC activities...  |
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sionsandman
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November 18, 2013, 06:57:36 PM |
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Yeah, I'm hesitant to use it for the same reason... I really don't like the idea of my gov't ID being tied to my BTC activities... Same here. I want to have the right to keep this private. |
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RachelManning1991
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November 18, 2013, 07:06:43 PM |
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It also depends on the exchange you use as well. MtGox may say one thing, but the exchange that you use may say another. My advice, use the rate from the exchange you trust. I use Coinbase.com. The highest that i have seen is MtGox, however, people don't like them because of all the problems they have been having.
I've been using MtGox to watch the value etc, but I've never traded/purchased anything on there. Also they require government issued paper before you are able to do anything useful.. Is that normal..? I mean, I haven't used coinbase before and I'm wondering if they also require something like that in order to sell/buy bitcoins because I'm soon looking to sell some bitcoins. Yeah, I'm hesitant to use it for the same reason... I really don't like the idea of my gov't ID being tied to my BTC activities... I'm not worried about my BTC activities since I'm only mining, buying and selling. But even though I don't engage in certain activities I still want to keep BTC private. It's like when people ask me why I use TrueCrypt or a vpn, it's not that I do illegal stuff, I just like privacy and don't want advertisers and others to take advantage of me. But since I'm not a resident of the US I don't like my personal information in ANY us-based hands... |
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Bees Brothers
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November 18, 2013, 07:15:00 PM |
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We use Bitpay's exchange rate. https://bitpay.com/bitcoin-exchange-ratesBitPay consolidates market depth from multiple exchanges to provide buyers with a Bitcoin Best Bid (BBB) exchange rate. BitPay currently calculates BBB based on Bitcoin/US Dollar rates because of the maximum liquidity.
To calculate the exchange rate for US Dollars, we pull the market depth from exchanges with adequate liquidity and withdrawal capability in USA and the Eurozone. The exchange order books are merged into a Consolidated Level II table.
The BBB is calculated by simulating an auto-routing market sell order, across all exchanges, with zero commission fees. Buyers will always get a better value by spending their bitcoins at a BitPay merchant than by selling them on an exchange.
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tinyhunter112
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June 10, 2018, 11:39:13 AM |
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Obviously there's no objective measure of its value compared to fiat currencies, but what source do most people go by?
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