Bitcoin Forum
December 07, 2016, 04:40:36 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Calculation of exchange rate?  (Read 390 times)
GabrielZ
Newbie
*
Offline Offline

Activity: 28


View Profile
August 12, 2011, 02:02:12 PM
 #1

Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
jackjack
Hero Member
*****
Offline Offline

Activity: 882


May Bitcoin be touched by his Noodly Appendage


View Profile
August 12, 2011, 02:39:06 PM
 #2

It's not calculated
It's fixed by the market

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
nmat
Hero Member
*****
Offline Offline

Activity: 602


View Profile
August 12, 2011, 02:49:33 PM
 #3

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
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!