29 June 2013 | tymister | Reddit.com
I noticed since Mt.Gox stopped allowing transfers for USD that the prices of Coinbase.com dropped. However, I can’t figure out what index Coinbase is using to determine pricing. Previously it was easy to figure out the price, Mt.Gox * 1% fee + 15 cents (bank transfer cost).
It seems to me logical that they would be using Bitstamp, but really all other indexes are about ~10% lower than Mt.Gox. The new price for Coinbase seems to be Bitstamp*6% but that fluctuates.
The question for me is, how can I know the actual price of the BTC I am buying (minus the commission fee and bank fee) if I don’t know the index they are buying from? I can’t come up with a single formula now that determines the cost. I would like to know because I want to set prices to sell BTC locally.
To me the price seems a bit inflated compared to the other indexes, well beyond the 1% commission fee or the fee for buying from Bitstamp. Before they (assuming) stopped using Mt.Gox the price could be calculated. Are they fluffing up the price now that they are not fixed to Mt.Gox?
I just want to know the cost so I know they are pricing fairly.
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