Exchange Rate



Due to personal time constraints, updates and trades through this site are suspended until further notice. I highly recommend t
he Bitcoin Exchange and also the Bitcoin Market if you're from Europe and if you double check the rate you're getting with the rates at the Bitcoin Exchange. (9 June 2010)

The minimum volume I exchange is one gram of Pecunix digital gold currency which is roughly $40. At the
Bitcoin Market you can make any size exchange using Pecunix, Liberty Reserve USD, Moneybookers USD and PayPal USD. The Bitcoin Exchange accepts SMS payments and bank wire transfers with no fees from within Euope.

Before you can start exchanging bitcoins, you first need to register for a NewLibertyStandard bitcoin address account number. Within 48 hours I will send you an email containing your account number. Once you have an account, you can buy bitcoins by sending a Pecunix payment to newlibertystandard@gmail.com and you can buy Pecunix by sending bitcoins to your bitcoin address account number. You only need to register once.

Pecunix account registration is free and there are no maintenance fees, so log in and start trading today! If you encounter any unfamiliar terms on their website, you can look them up in the Pecunix glossary.

I
t usually takes less than 48 hours for me to process transactions. I will process transactions in the order in which I receive them. The exchange rate for the transaction is determined by the time I receive your payment. The spreadsheet on the left side of this page displays how many bitcoins and dollars I have available to trade. If I have funds remaining, but insufficient to complete a whole transaction, I will do a partial transaction and send you the change minus the Pecunix transaction fee. I don't know whether Pecunix reverses transaction fees on refunds. If I don't have any funds remaining at the time of the transaction, I will send you a refund. The amount of funds available to complete a transaction is determined by the available balance when I receive your payment, not by the available balance when I finally get around to completing the transaction. The exchange rate changes at exactly midnight Greenwich Mean Time. Because my website doesn't update automatically, I usually post the forward exchange rate for the next day so that it will be available right at midnight. You can usually find the current exchange rate at the bottom of the spreadsheet on the right whenever the left spreadsheet is not current,

Because this exchange service is already more complicated than I would like it to be, I give you the responsibility of calculating the Pecunix transaction fees (cache). I will subtract the transaction fee from your bitcoin purchase if you select to have me pay all or half of the transaction fee. You pay the transaction fee whenever you purchase Pecunix from me.


The exchange rate is the average of the adjusted bitcoin production per day divided by the average production costs per day. The per day averages start with the previous day and will eventually extend back 365 days, but until then, they increase by half a day each day by taking the average of two averages. Production costs consist of the price of broadband Internet and metered electricity. The adjusted bitcoin production is the following spreadsheet calculation =if(M2>N2,((B2+F2)/2)*(1/(3-((N2/M2)*2))),((B2+F2)/2)*(3-((M2/N2)*2))) where M2 is the available balance of dollars times the exchange rate of that same day, N2 is the available balance of bitcoins, B2 is the amount of bitcoins produced the previous day and F2 is the average of the adjusted bitcoin production per day.

D
isclaimer - This exchange service is a personal hobby and is legal as far as I know. I will only buy and sell bitcoins in so much as it is legal to do so. Bitcoins are not an officially recognized currency. Bitcoin worth is absolutely not guaranteed by myself nor any organization of which I am aware. Feel free to contact me.

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