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GabrielZ (OP)
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August 12, 2011, 02:02:12 PM
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Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated?
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August 12, 2011, 02:39:06 PM
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It's not calculated
It's fixed by the market
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August 12, 2011, 02:49:33 PM
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Quote from: 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?

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
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