BTC Price Question | Bitcointalksearch.org

calkob

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Bitcoinaverage uses all the sites together to give you an idea of the average price across the whole bitcoin exchange network. i use it all the time and i actually think that bitsquare use it also.

whizter

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Quote from: dearbesz1219 on March 16, 2017, 11:20:37 AM

Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Each exchange had their owned bitcoin price value, this will depend on the huge volume they had. Meaning, you wouldn't see any exchange that has the same exact price,.there are some higher and some are lower something like that.

in most most the time the exchanges rate is so much different, even there is a big difference in the price of bitcoin in different exchanges.

ArnoldChippy

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Quote from: dearbesz1219 on March 16, 2017, 11:20:37 AM

Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Each exchange had their owned bitcoin price value, this will depend on the huge volume they had. Meaning, you wouldn't see any exchange that has the same exact price,.there are some higher and some are lower something like that.

but still we can expect a very little difference in difference exchanges, otherwise most of the their price remain the same.

aardvark15

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Quote from: JeffBrad12 on February 17, 2017, 05:14:25 AM

Quote from: Zadicar on February 16, 2017, 10:03:24 PM

Quote from: BrewMaster on February 16, 2017, 08:54:38 AM

Quote from: Zadicar on February 16, 2017, 07:16:09 AM

Quote from: JeffBrad12 on February 15, 2017, 07:22:28 PM

Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it.

the name is perfect: "Troll Box"
that should be enough indication for anybody to know what is happening in there. everybody just trolling there, hyping or creating panic to get their own orders filled. although you may find some rare good information on there too.

and to be honest i dislike the idea of even having a chat option on an exchange! that is one of the reasons why i like bittrex more, they don't have these types of foolishness.

I dont know why they call it as Trollbox but still a good way to communicate with other traders and the thing you should be wary that those informations you read on that box isnt believable anytime most of them are just fuds or wrong informations not all since there are still some legit announcements from other people either devs/people related to the coin.

But the newbies are not familiar with it. I just think if FUD was including on the black campaign with spreading misinformation for everyone else. That's very bad in my mind.

Sometimes the troll boxes can provide good answers if you ask a question, but you can't really trust what is said about the price of Bitcoin or other cryptocurrencies because some people are just promoting their coin or protecting their investments.

dearbesz1219

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Each exchange had their owned bitcoin price value, this will depend on the huge volume they had. Meaning, you wouldn't see any exchange that has the same exact price,.there are some higher and some are lower something like that.

JeffBrad12

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Quote from: Zadicar on February 16, 2017, 10:03:24 PM

Quote from: BrewMaster on February 16, 2017, 08:54:38 AM

Quote from: Zadicar on February 16, 2017, 07:16:09 AM

Quote from: JeffBrad12 on February 15, 2017, 07:22:28 PM

Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it.

the name is perfect: "Troll Box"
that should be enough indication for anybody to know what is happening in there. everybody just trolling there, hyping or creating panic to get their own orders filled. although you may find some rare good information on there too.

and to be honest i dislike the idea of even having a chat option on an exchange! that is one of the reasons why i like bittrex more, they don't have these types of foolishness.

I dont know why they call it as Trollbox but still a good way to communicate with other traders and the thing you should be wary that those informations you read on that box isnt believable anytime most of them are just fuds or wrong informations not all since there are still some legit announcements from other people either devs/people related to the coin.

But the newbies are not familiar with it. I just think if FUD was including on the black campaign with spreading misinformation for everyone else. That's very bad in my mind.

iram3130

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As Bitcoin is Decentralized, there is no one particular company or organization which decides the price of the Bitcoin. Therefore every exchange site is making its own price based on the demand and supply. Roll Eyes

coynedterm

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Actually no one has placed or marked for the actual price of bitcoin . But If you will see the history then you will found the price of the bitcoin reached to the maximum of about $1200/btc .
But it may be possible that in the future it may be possible it cross this price also .
Second thing the price in the different exchange sometimes comes at much difference , it is due To only the demand of bitcoin at that exchange , which is similar to the altcoin price in different exchange is different .
And Here no doubt that most of the people who are bitcoin trader are making money from these types of differences in the price in different different exchange .

Slark

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There is nothing like ideal and true bitcoin price. Unlike fiat which is centrally controlled and kept 'in place' by central banks by manipalting inflation and interest rates.
No central authority stands behind bitcoin dictating the prices. So to determine 'ideal' price of bitcoin just use price from the major exchanges: Bitfinex, Kraken, Coinbase etc.
Be wary about Chinese exchanges, price there is often manipulated and can't be taken seriously.

Zadicar

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Quote from: BrewMaster on February 16, 2017, 08:54:38 AM

Quote from: Zadicar on February 16, 2017, 07:16:09 AM

Quote from: JeffBrad12 on February 15, 2017, 07:22:28 PM

Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it.

the name is perfect: "Troll Box"
that should be enough indication for anybody to know what is happening in there. everybody just trolling there, hyping or creating panic to get their own orders filled. although you may find some rare good information on there too.

and to be honest i dislike the idea of even having a chat option on an exchange! that is one of the reasons why i like bittrex more, they don't have these types of foolishness.

I dont know why they call it as Trollbox but still a good way to communicate with other traders and the thing you should be wary that those informations you read on that box isnt believable anytime most of them are just fuds or wrong informations not all since there are still some legit announcements from other people either devs/people related to the coin.

googlebtc

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if you need to see the price of bitcoin you can see here https://markets.blockchain.info/
but to convert you can use this https://tools.bitcoin.com/

I think every trading sites have different prices Grin

BrewMaster

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Quote from: Zadicar on February 16, 2017, 07:16:09 AM

Quote from: JeffBrad12 on February 15, 2017, 07:22:28 PM

Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it.

the name is perfect: "Troll Box"
that should be enough indication for anybody to know what is happening in there. everybody just trolling there, hyping or creating panic to get their own orders filled. although you may find some rare good information on there too.

and to be honest i dislike the idea of even having a chat option on an exchange! that is one of the reasons why i like bittrex more, they don't have these types of foolishness.

Zadicar

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Quote from: JeffBrad12 on February 15, 2017, 07:22:28 PM

Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it.

JeffBrad12

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Quote from: talkbitcoin on February 05, 2017, 06:26:46 AM

Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else. Roll Eyes

zzTAz

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i use https://bitcoinaverage.com/en/bitcoin-price/btc-to-usd for the price ^^

blackhawkeye1912

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

Of course No, as you can see in bitcoin industry, none of the exchange sites are having the same price with bitcoin, this will depend on the volume they get in the market, this was I think of it. Therefore Bitcoin is very anonymous and the price most often change form time to time.

virasog

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Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

You know what yes it is an idiot move if you buy high now and you sell it now in low price it is just a waste of money, but I guess you buy bitcoin now in high price it is okay and you sell it in the future in low amount you make profit on that, like you bought 1 btc in 1000$ and in the future you the value is $1500 since you bought it in $1000 I guess it is not bad if you sell it in just $1300 lower and cheaper.

talkbitcoin

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Quote from: ImHash on February 05, 2017, 05:47:49 AM

What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way.

ImHash

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What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.

shield132

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Well, there isn't actual bitcoin price but I mostly use price which is in google. In reality there is no big difference in them, only some dollars and that's normal because while it's decentralyzed, there is no way of actual price. See real currencies like dollar, euro, they are controlled by goverment and big players. Bitcoin isn't fully decentralized but every user plays main role and to my mind that's reason of no actual price.

ReLieD

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The price of bitcoin keeps changing,
One moment it is something and next moment it is something else.
All the sites show almost the same value.
Some update their site a bit early and some a bit late.
Some sites automatically change the value exactly how the prices changes.
Mainly blockchain sites show the exact and correct values

pinkpanther03

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

There is no actual price in bitcoin, its true that at any moment price of bitcoin can be change quickly, and about what you are palnning it, if you think it will be profitable, well go ahead. But it will come at the same way in the long run.

nelson4lov

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Quote from: Pearls Before Swine on January 22, 2017, 11:29:19 PM

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?

The Price of bitcoin cannot be the same across multiple exchanges and sites as the Price is dependent on exchange rate and Exchanges have different buy support which is also the cause. I feel All sites uses an estimate price to determine their prices. If bitcoin wasn't so volatile as it is , I would really be delighted for that but now It's not. Different Prices and unstable Price is one of bitcoin's main problem at the moment.

xuan87

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There is a standard price however each of the exchanger maybe have a slightly different price, I often heard arbitrage trading, but I think the chance to earn profit is too small plus you need to pay the fee to sell and also the price changes so quickly you might even lost few dollars before you get few cents

Fireblade

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Quote from: jacaf01 on January 23, 2017, 03:04:43 AM

Yes, it is possible to take advantage of the variation in price of BTC across exchanges but this kind of trade is getting difficult to make recently, but you need a good bot to do that for you, have seen such arbitrage disappeared in matter of second.

but i do not think that it is possible to take the advantage from the variation in the price of BTC across exchanges, the problem is the transaction fee, when you are going to convert your bitcoin from exchange to exchange where they offer a little high price and we add the transaction fee so it become equal and it become difficult to get any advantage from it. to me i think the best option is trading you can make good money in trading.

densuj

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

I think there are no standard markets be used for bitcoin's price
it is depend on demand and supply and depend on where we are residents
will follow bitcoin's price on the markets in the countries.

Drnice

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the price varies along side the the demand, which states clear that if the demand is high, the price will rise but if the demand is less the price will fall to suite the present state of the people who are in need of it in that site and that is the major reason of the different price in different sites. But on the other hand, the two parties who are for the exchange, I.e the buyer and the seller will have to go into agreement on a particular price to sell and to buy, so this don't have anything to do with the price of that particular site.

noel2123

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Just like a on tradings, we cannot all predict whether the value of bitcoin will rise, or will go down. We cannot see when will the value of a bitcoin will be going up or down. What you are saying if we can just trade and trade your bitcoins, we can earn, but if you are doing this, in exact time, exact period of time, the bitcoin value moves, then you cannot see what will happen.

GreenBits

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In exchanger or trading site Bitcoin price is not the same because they based the price to their volume and demand.The more the demands the higher the price.But I using bitstamp rate because this is the rate that my wallet using.

deadsilent

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Every exchange are different on price because of locations. Its normal. The price is changing due to demand of bitcoin. The more demand, the higher the price. Me, i always look at bitstamp for the price. Because its on my mycelium wallet. Sometimes i see -$20 difference between other exchange.

aardvark15

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The price is constantly changing just like stocks and mutual fund prices change except that with Bitcoin, there is no market closing.

JeffBrad12

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You have had the main point before. and actually, the arbitrage method is not efficient. because it's not worth at the time.
It seems like you must wait for 25 - 30 minutes for your transaction and you can assume how the market already walking at the range time.

digaran

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$780 up to $980 and just now I realized the importance of this $200 which bitcoin price fluctuates around, ever since I fell in love with BTC there was always opportunities to profit from this differences and fluctuations but then it was around $15 up to $90 that you could easily earn profit just from buying low and selling high.

If you've got coins in A exchange and price is $923 just sell them if you see price is at $905 in B exchange just buy them, this method is useful and beneficial only in large volumes and with using trusted services, other than that is just a futile attempt because people with big pockets having access to both bitcoin and fiat in several exchanges are doing this for living.

Dmitry.Vastov

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Every exchange have different locations and different price. Thats depends on demand in your region to determine what will be the price. But you can see price.movement of bitcoin in every exchange on coinmarketcap.com. You should try visit there. I saw an exchange and i compared it to other. Sometimes theres $10 difference and sometimes even more.

Red Fish

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Actual Bitcoin price you can check here - http://preev.com/, it is best Bitcoin price up to date website. Plus you can also check Litecoin, Peercoin and Doge price.

vnvizow

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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.

It's kinda like stocks if you think about it. The general price is there but the actual selling and buying prices are decided by the people who are buying and selling at that exact point. So if people lost faith in btc like a few months ago with the Chinese stuff going down then the price will drop, whereas if confidence in the coin is strong (Indians buying in after the currency ban or the Greece and Cyprus spikes) then people will be willing to buy and sell at higher prices.

jacaf01

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Yes, it is possible to take advantage of the variation in price of BTC across exchanges but this kind of trade is getting difficult to make recently, but you need a good bot to do that for you, have seen such arbitrage disappeared in matter of second.

marketone

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There is different price in all the exchanges because there is minimal difference in between them, from all these exchange an average will be taken into consideration but i will follow preev.com site. Where as it is different value from exchanges because in exchange will have an higher price when compared to update sites.

TimeTeller

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Quote from: pooya87 on January 23, 2017, 12:46:12 AM

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.

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,...

I agree with pooya87. BTC is not centralized so it's up to the btc exchanges how they will respond with the supply & demand of the BTC at that moment.

A good reference site for the Arbitrage trading is - http://www.coinrates.info/

But you need to think & decide fast, else you will lose that transaction!

Gotottack

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You will not profit much if you did do arbitrage with bitcoin as the fees will eat up your profits. The differences in the prices from exchanges are just minute and not worth the effort of doing arbitrage in them. Also, their prices will eventually just match. I think there is indeed no actual price basis for it, it just depends on who you talk to.

thebatletbet

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Quote from: viking02 on January 22, 2017, 11:23:50 PM

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 22, 2017, 11:23:50 PM

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 22, 2017, 11:23:50 PM

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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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 (Read 2247 times)