Quote from: rb26 on September 09, 2017, 06:30:07 PM

Quote from: bouren on September 09, 2017, 05:35:10 PM

Quote from: Snake X on June 03, 2011, 01:54:08 AM

I alwasy wandered what a formula is to hand convert any amount of BTC to USD is based on the variable exchange rate.. what Is it anyhow?

Actually there is no formula. The whole concept is of demand and supply. Suppose buyers agree to give X price and sellers agree to sell at Y price in particular market. So bitcoin price is actually a consensus price between X and Y where both buyer and seller agree to trade.
So this consensus price differs in different market hence we have variable prices across globe.

I disagree to this statement. There will always be a formula to conversions. The digits will not just pop up and there we go, the price is this: $x. If you are telling that the price is to decided by the agreement of both seller and buyer then you are just saying that someone is controlling the price, thus Bitcoin is centralized. It seems that your logic has many flaws.

How could you say if buyers and sellers decide their prices then its centralized? Centralization means a single body deciding price and all buyers and sellers follow that. But when both have liberty setting their own prices, it fulfills decentralized criteria on its own.
And believe me there is no formula of conversions. The prices are just mean of different buy and sell orders where both buyers and sellers agree to trade.