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GabrielZ (OP)
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August 16, 2011, 08:53:42 AM
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Well, the subject says it all: can somebody explain to me, exactly how the exchange rate of BTC to EUR, say, is calculated?
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August 16, 2011, 09:23:29 AM
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It's not calculated. It's an exchange where some people make bids (offer to buy) and some people make asks (offer to sell) and when the exchange finds a match, it's a deal and that's the price at that moment.
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August 19, 2011, 07:53:55 AM
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If you have 3.14 BTC to spend, and someone else has 10 EUR, and you agree to trade, then the exchange rate is calculated by:

3.14 / 10 = 0.314 BTC per EUR, or you can flip it and say 10 / 3.14 = 3.1847 EUR per BTC.
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