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Topic: Calculation of exchange rate? (Read 530 times)

hero member
Activity: 602
Merit: 502
August 12, 2011, 09:49:33 AM
#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
legendary
Activity: 1176
Merit: 1280
May Bitcoin be touched by his Noodly Appendage
August 12, 2011, 09:39:06 AM
#2
It's not calculated
It's fixed by the market
newbie
Activity: 28
Merit: 0
August 12, 2011, 09:02:12 AM
#1
Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated?
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