Posts Tagged ‘Exchange_Rate’

BTC price setting auction May 2019

Thursday, May 9th, 2019

This appeared in the log today:

auctionbot: Buy order # 1047 has ENDED: 500 WFF, WU esta bien SOLD by PeterL for 94mn ecu. Attn: BingoBoingo

This might look cryptic, but it is actually a very important piece of information. What this is saying is that 500 USD1 were sold for 94mn ecu2, which is equivalent3 to 0.094 bitcoin. Or for people who think of things using the USD price, that is an exchange rate of 5319.15 USD/BTC.

This particular monthly auction is important because it is used to set the prices which the Pizarro ISP uses to set the rates they charge customers.

  1. US dollars, aka WFF, which stands for wired filthy fiats []
  2. ecu = euloran copper unit []
  3. Equivalent because the makers of the game Eulora, who issue these ecu, have pegged them to the bitcoin. []