Silk Road forums
Discussion => Newbie discussion => Topic started by: kookoo on April 06, 2013, 03:28 am
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mt gox latest price often swing >1% every hour, and different exchanges often simultaneously quote different prices.
How often is BTC prices on SR adjusted, and which exchange rate is used to calculate prices?
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Make sure your SR settings are to show up in USD not bitcoins. Bitcoin price is automatically adjusted to the USD price listed by the vendor.
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I'm guessing mtgox is used as the baseline since it has the highest trade volume.
Now how often they update exchange rate... that's another question. I'd assume that it cant be instant. I'm not finance guru but I assume that it comes down to the same problem that occurs in stock markets- what _is_ the real value of a stock at a given moment? There isn't really one. I'm guessing the take the midpoint between ask/bid of all transactions in the past 24 hours and average them to get the "price". Perhaps someone can chip in that has a modicum of finance training.