<p>The exchange rate to other currencies is not part of the currency, not part of the block structure.</p>
<p>Bitcoin would work as originally intended even if no other currencies existed.</p>
<p>Prices in markets, whether vegetable markets, stock markets or currency markets, are determined by the actual prices agreed between individual buyers and sellers.</p>
<p>The owners of the marketplaces may record these prices and display them but they don't really set them.</p>

CC BY-SA 4.0
2023-07-14T08:55:44.133Z
2023-07-14T09:05:51.587Z
2023-07-14T09:05:51.587Z
RedGrittyBrick
<p>Bitcoin blocks contain transaction data and other metadata related to the Bitcoin network, but they do not directly include the price of a Bitcoin coin. The price of Bitcoin, like any other cryptocurrency or asset, is determined by market forces on various cryptocurrency exchanges.</p>
<p>Websites like CoinMarketCap and other cryptocurrency data aggregators obtain the price of Bitcoin from these exchanges. They collect data from multiple exchanges and calculate an average price or a weighted average based on trading volumes on those exchanges. This aggregated price is then displayed on their platforms as the current price of Bitcoin.</p>
<p>These platforms typically have APIs (Application Programming Interfaces) through which they can retrieve the latest price data from exchanges in real-time. They continuously update their databases with this information to provide users with accurate and up-to-date pricing information.</p>
<p>It's important to note that the price of Bitcoin can vary slightly across different exchanges due to factors like supply and demand dynamics, liquidity, and regional variations. Therefore, the prices displayed on different platforms may differ slightly, but they generally remain close to one another.</p>

CC BY-SA 4.0
2023-07-14T09:50:17.900Z
2023-07-14T09:50:17.900Z
Mani T
<p>I am trying to understand the bitcoin block structure and if it's possible to obtain the price of a bitcoin coin from within the bitcoin block itself.</p>
<p>If the price of bitcoin is not obtained from the bitcoin blocks how do sites like coinmarketcap.com generate a price for a bitcoin coin?  Do they obtain the price from the block itself or do they obtain it from the exchanges, or ...?</p>
<p>Thanks</p>

<block><exchange-rate>
Can the price of bitcoin be obtained from the block data?
Philoxopher
# Can the price of bitcoin be obtained from the block data?

(Asked by: username_0 on 2023-07-14)

I am trying to understand the bitcoin block structure and if it's possible to obtain the price of a bitcoin coin from within the bitcoin block itself.

If the price of bitcoin is not obtained from the bitcoin blocks how do sites like coinmarketcap.com generate a price for a bitcoin coin? Do they obtain the price from the block itself or do they obtain it from the exchanges, or ...?

Thanks

**Tags:** block, exchange-rate


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## 2 answers

### Answer by username_1 on 2023-07-14. Score: 2

The exchange rate to other currencies is not part of the currency, not part of the block structure.

Bitcoin would work as originally intended even if no other currencies existed.

Prices in markets, whether vegetable markets, stock markets or currency markets, are determined by the actual prices agreed between individual buyers and sellers.

The owners of the marketplaces may record these prices and display them but they don't really set them.


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### Answer by username_2 on 2023-07-14. Score: -1

Bitcoin blocks contain transaction data and other metadata related to the Bitcoin network, but they do not directly include the price of a Bitcoin coin. The price of Bitcoin, like any other cryptocurrency or asset, is determined by market forces on various cryptocurrency exchanges.

Websites like CoinMarketCap and other cryptocurrency data aggregators obtain the price of Bitcoin from these exchanges. They collect data from multiple exchanges and calculate an average price or a weighted average based on trading volumes on those exchanges. This aggregated price is then displayed on their platforms as the current price of Bitcoin.

These platforms typically have APIs (Application Programming Interfaces) through which they can retrieve the latest price data from exchanges in real-time. They continuously update their databases with this information to provide users with accurate and up-to-date pricing information.

It's important to note that the price of Bitcoin can vary slightly across different exchanges due to factors like supply and demand dynamics, liquidity, and regional variations. Therefore, the prices displayed on different platforms may differ slightly, but they generally remain close to one another.


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