BTC Price Question - page 3. | Bitcointalksearch.org

thebatletbet

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Quote from: viking02 on January 23, 2017, 12:23:50 AM

What is the actual btc price? Is there a standard site that uses the btc price? I read some ppl use the google rate. Others use coinbase... kraken, bitstamp etc. I notice the price for bitstamp for bitcoin seems to be the lowest.

If thats the case, couldn't someone buy on an exchange or site for higher price then sell it on exchange for lower price? I believe this is arbitrage. But i assume this isn't possible due to bitcoin price moving so fast by the minute? Or are the fees a bit too much for this? Example if you could sell bitcoin for $600 on a site... but another site offers $605, obviously you sell on the 2nd site assuming the selling fees are the same etc.

bitcoin price can't standard and same price in all exchanger
so you can calculate how long deposit withdraw between exchanger, trading fee and withdraw fee
you can arbitrage youre bitcoin you can easy to take profit

pooya87

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Quote from: viking02 on January 23, 2017, 12:23:50 AM

What is the actual btc price? Is there a standard site that uses the btc price? I read some ppl use the google rate. Others use coinbase... kraken, bitstamp etc. I notice the price for bitstamp for bitcoin seems to be the lowest.

bitcoin is not centralized and there is no central place to dictate the price of it to everyone else. the price of bitcoin is determined based on supply and demand, and this only shows itself on places where you can actually buy and sell (supply coins and demand coins). and that place is an exchange service.

also i have to say places like google, coindesk, preev, bitcoinaverage, bitcoincharts, bitcoinwisdom,.... take their prices from exchanges through their API call. for example they take all the prices (5,6 places and then take an average and report that price.

Quote

If thats the case, couldn't someone buy on an exchange or site for higher price then sell it on exchange for lower price? I believe this is arbitrage. But i assume this isn't possible due to bitcoin price moving so fast by the minute? Or are the fees a bit too much for this? Example if you could sell bitcoin for $600 on a site... but another site offers $605, obviously you sell on the 2nd site assuming the selling fees are the same etc.

you can but the difference is rarely that big for you to make any profit this way. the method you are describing is called Arbitrage trading which you can read about more on the internet. but in short it is not possible to do it as you are saying because of the fees, the time it takes,...

and to sell on a site, you don't only look at the price, you also look to see if it is trusted place, if it has the fiat withdrawal/deposit that you want, if it accepts your country,...

ipanks

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Quote from: viking02 on January 23, 2017, 12:23:50 AM

What is the actual btc price? Is there a standard site that uses the btc price? I read some ppl use the google rate. Others use coinbase... kraken, bitstamp etc. I notice the price for bitstamp for bitcoin seems to be the lowest.

If thats the case, couldn't someone buy on an exchange or site for higher price then sell it on exchange for lower price? I believe this is arbitrage. But i assume this isn't possible due to bitcoin price moving so fast by the minute? Or are the fees a bit too much for this? Example if you could sell bitcoin for $600 on a site... but another site offers $605, obviously you sell on the 2nd site assuming the selling fees are the same etc.

i think there is no actual price for btc although in many market there is differences with the price. we can do arbitrage trading but we should thinking about the time for sending into another wallet. actually i have this experience in few months ago and i would said that if the network is not heavy load traffic, then arbitrage trading is possible.

Pearls Before Swine

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No, because there are multiple exchanges and there can be wild variations because of that. Market forces act separately at each exchange. The price should be the same across all of them, but it never quite is. So the preev.com price is a composite, I believe, but if you look at bitstamp it may be different than poloniex or any of the others. Crazy, eh?

viking02

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🌟 COMSA ICO: 10/02/17 🌟

What is the actual btc price? Is there a standard site that uses the btc price? I read some ppl use the google rate. Others use coinbase... kraken, bitstamp etc. I notice the price for bitstamp for bitcoin seems to be the lowest.

If thats the case, couldn't someone buy on an exchange or site for higher price then sell it on exchange for lower price? I believe this is arbitrage. But i assume this isn't possible due to bitcoin price moving so fast by the minute? Or are the fees a bit too much for this? Example if you could sell bitcoin for $600 on a site... but another site offers $605, obviously you sell on the 2nd site assuming the selling fees are the same etc.

Topic: BTC Price Question - page 3. (Read 2235 times)