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Question: When selling goods/services which exchange do you use as conversion price point?
BitStamp - 5 (71.4%)
Mt. Gox - 1 (14.3%)
BTC-E - 0 (0%)
Huobi - 0 (0%)
Other (i.e. coinbase, blockchain.info) - 1 (14.3%)
Total Voters: 7

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Author Topic: Weighted Average or direct price from a specific exchange?  (Read 736 times)
keithers
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January 28, 2014, 05:03:30 PM
 #1

Hey guys, I recently have been selling some shoes and clothing items for bitcoin and litecoin.   When quoting prices in terms of BTC, I am curious as to which exchange you guys are using for the conversion to dollars, or your local currency?   For instance, I sold some Jordans to a trusted member Mameise on this forum, and when giving him a price in BTC, I just went off of Bitstamp (which at the time was priced much lower than Gox or Huobi, but slightly higher than BTC-E.   I was trying to be the most fair for both of us, so I just went off of the exchange in the middle.  Obviously if you are selling for LTC or another alt-coin, you are more than likely going to be tied to BTC-E since they have the highest volume of most alt-coins.   

I know that pricing shifts by the minute obviously on each exchange, but would like to know your thoughts on quoting prices in BTC...  Thanks!
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January 28, 2014, 05:06:24 PM
 #2

Just use preev. It's an average of a handful of the biggest exchanges. http://preev.com/btc/

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Rannasha
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January 28, 2014, 05:11:58 PM
 #3

Just use preev. It's an average of a handful of the biggest exchanges. http://preev.com/btc/

preev includes MtGox prices, which inflates the value.

To the OP: I would just use whichever exchange you use to convert to local currency with. Bitstamp and BTC-e will typically stick rather close to eachother, so the difference for the customer should be small. Just add a notice for customers informing them where you get your exchange rate from.
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January 28, 2014, 05:40:10 PM
 #4

Mt.gox price exchange is useless ... check virwox (system) or justcoin.
when i transform BTC to Euro, only last 2 is the true about the exchange ... example : 400mBTC = 200 euros (virwox and justcoin indicate 500euros/BTC and mt.gox indicate 720euros/BTC).
hilariousandco
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January 28, 2014, 05:49:20 PM
 #5

Just use preev. It's an average of a handful of the biggest exchanges. http://preev.com/btc/

preev includes MtGox prices, which inflates the value.

To the OP: I would just use whichever exchange you use to convert to local currency with. Bitstamp and BTC-e will typically stick rather close to eachother, so the difference for the customer should be small. Just add a notice for customers informing them where you get your exchange rate from.

You can choose which exchanges make up the average from the options.

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January 28, 2014, 06:01:43 PM
 #6

Just use preev. It's an average of a handful of the biggest exchanges. http://preev.com/btc/

preev includes MtGox prices, which inflates the value.

To the OP: I would just use whichever exchange you use to convert to local currency with. Bitstamp and BTC-e will typically stick rather close to eachother, so the difference for the customer should be small. Just add a notice for customers informing them where you get your exchange rate from.



BitStamp   - 1 (33.3%)
Mt. Gox   - 1 (33.3%)

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January 28, 2014, 11:34:21 PM
 #7

Thanks guys!
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