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Topic: MtGox vs Preev vs???? How do you find exact exchange rates? (Read 2031 times)
I generally use preev
Whats more accurate? MtGox in my Multibit wallet says 1btc=730$ while preev says 1btc=691.80$ Thats about $40 difference, so whats more accurate or should I say ahead? Thanks!
There is no one exchange rate, and no value is more accurate than any other value. Mt. Gox is the most quoted but its problems make it an outlier. All the exchanges operate independently, so trades occur at different prices. Although there is some amount of arbitrage, the difficulty of transferring fiat between exchanges prevents the difference in the prices from narrowing.
Gox is always either the highest or the lowest for pricing; preev.com should give you the more accurate price, since it's an aggregate of several exchanges.
https://bitcoinaverage.com/ is good, though they seem to have removed the "ignore MtGox" button. I usually just watch Bitstamp (which is Preev's default, IIRC) on Bitcoinity directly though, it's usually a good indicator of the price since it's one of the largest exchanges.
Thanks is that what you use?
Yes, it's not perfect as it only uses a few exchanges, but better than just looking at one exchange. By the way, the price you're seeing on preev is probably bitstamp's.
Thanks is that what you use?
Whats more accurate? MtGox in my Multibit wallet says 1btc=730$ while preev says 1btc=691.80$ Thats about $40 difference, so whats more accurate or should I say ahead? Thanks!
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