BitcoinAverage.com - bitcoin price index

[bitco.in]

Thank you for such a great resource!  I'll definitely look into implementing it at bitco.in once the new site goes live.  Will probably use something more simple in the meantime like BTCquote while I'm learning your code.

[Flobin]

Firstly I have to say I love bitcoinaverage, thank you guys for making it!

Secondly I was wondering if you guys are still going to add bitonic.nl to the index?

Thanks!

edit: I see it's there now. Awesome!

[hutnik]

Great site!

Any plans to add more (possibly all from site) currencies to API?

[BitcoinAverage]

This has me thinking ..couldn't the Chinese Gov't Use the exchanges as pawns and put through fake sell orders?

Reminds me of precious metals markets where there are claims of naked short selling to manipulate the market.

This could be a reason Chinese Gov't Keep Markets alive...so they could manipulate it?

Nothing like a good conspiracy theory on a Sunday Afternoon.

 

Perhaps there should be a filter to exclude markets that are not truly liquid? Like the old Mt. Gox Filter?

Hmm, this is an complex question. On one hand - we are strongly against creating custom filters that will allow everyone to create random prices based on their personal preferences. Old MtGox filter was a forced compromise I don't really want to get back to.
On the other hand - I see this as our responsibility to react on suspicious behaviour and potentially filter out unfair market players.

If we will decide to take away certain exchanges - we need to have a good ground for this decision.
Is there any reliable and ideally measurable way to recognize faked volume or price data?

Alex at BitcoinAverage

[BitcoinAverage]

Great site!

Any plans to add more (possibly all from site) currencies to API?

We have released API for global averages at https://api.bitcoinaverage.com/ticker/global/*. You now have all possible world currencies available in the API.
Also this explanation chart tells how all these global averages are calculated.

Alex at BitcoinAverage

[row5_seat47]

Is there any reliable and ideally measurable way to recognize faked volume or price data?

Alex at BitcoinAverage

I wonder if Patrick Byrne of Overstock.com would be interested in discussing this?
He is a strong advocate against naked short selling which is essentially counterfeiting of a company's stock
http://www.overstock.com/naked-short-selling.html

and of course
http://www.overstock.com/bitcoin

similar but not exactly the same situation

[solex]

This has me thinking ..couldn't the Chinese Gov't Use the exchanges as pawns and put through fake sell orders?

Reminds me of precious metals markets where there are claims of naked short selling to manipulate the market.

This could be a reason Chinese Gov't Keep Markets alive...so they could manipulate it?

Nothing like a good conspiracy theory on a Sunday Afternoon.

 

Perhaps there should be a filter to exclude markets that are not truly liquid? Like the old Mt. Gox Filter?

Hmm, this is an complex question. On one hand - we are strongly against creating custom filters that will allow everyone to create random prices based on their personal preferences. Old MtGox filter was a forced compromise I don't really want to get back to.
On the other hand - I see this as our responsibility to react on suspicious behaviour and potentially filter out unfair market players.

If we will decide to take away certain exchanges - we need to have a good ground for this decision.
Is there any reliable and ideally measurable way to recognize faked volume or price data?

Alex at BitcoinAverage

The TBTF bank fx system I used to work on many years ago would take a feed from many sources and discard the outliers before averaging to get the rate we used for internal valuations.

In some ways less is more. Consider Bitstamp and BTC-e at the time of this post, $826.26 & 829, are trading within $3 of each other. But interestingly Huobi shows 5015 which is $828.9 (using USDCNY=6.05)

So these three exchanges alone are giving a strong market price which could be converted to all other world currencies.

Likely most of the other exchanges are outliers due to low volume / illiquidity, fiat delays, excessive fees.

[tspacepilot]

This is still my favorite bitcoin price site.  I say good job to the bitcoinaverage.com folks.  Nice to keep hearing updates on the project.

[Newar]

Is there any reliable and ideally measurable way to recognize faked volume or price data?

Alex at BitcoinAverage

Sort of related article: http://www.coindesk.com/2013-bitcoin-trading-volume-winners-losers/

tl;dr: 3rd party audits would be reliable. At the moment exchanges can feed us what they like. I think even if their volume numbers are not tampered with, they could run bots on their own to boost volume. Like so many things bitcoin it comes down to trust.

[Newar]

A question regarding:

Code:

bitonic	11.97%	257.14	0.593 EUR

Is this data from https://bl3p.com ?

BL3p is a product of the Dutch company Bitonic.

They say they're online since 21. January and their 30d charts shows a volume of 4 BTC. Something seems amiss.

[AlmerFronberg]

We support BitcoinAverage !
Checkout our Live Ticker Chrome Extension for BitcoinAverage 
https://bitcointalk.org/index.php?topic=424686.0

[BitcoinAverage]

A question regarding:

Code:

bitonic	11.97%	257.14	0.593 EUR

Is this data from https://bl3p.com ?

BL3p is a product of the Dutch company Bitonic.

They say they're online since 21. January and their 30d charts shows a volume of 4 BTC. Something seems amiss.

Nope, this is coming from bitonic.nl, as I understand BL3p is a new creation from the same team. bitonic.nl is an OTC exchange, while BL3p is a new trading engine.

[BitcoinAverage]

We support BitcoinAverage !
Checkout our Live Ticker Chrome Extension for BitcoinAverage  
https://bitcointalk.org/index.php?topic=424686.0

Added to list of projects on the FAQ page.

Does anybody know any price ticker extensions for other browsers?

Alex at BitcoinAverage.

[Newar]

Does anybody know any price ticker extensions for other browsers?

Alex at BitcoinAverage.

https://addons.mozilla.org/en-US/firefox/addon/bitcoin-price-ticker/

https://addons.opera.com/en/extensions/details/bitcoin-ticker/?display=en

[CoinHeavy]

Excellent site!

I'm curious about two things:

• ETA on embeddable charts
• How do you plan to monetize your service?

[ChipGeek]

Since MtGox price is SO far out of whack from the others, I'd like to exclude it from my average.  Acknowledging that this could be true for some other exchange in the future, I propose that every exchange has a checkbox next to its name so the user can choose which exchanges to include or exclude from the average.  For example, I'd like to exclude localbitcoins also.

[Roy Badami]

Great site!

Any plans to add more (possibly all from site) currencies to API?

We have released API for global averages at https://api.bitcoinaverage.com/ticker/global/*. You now have all possible world currencies available in the API.
Also this explanation chart tells how all these global averages are calculated.

Alex at BitcoinAverage

Is there any way to get historical data going back more than 24 hours?  I found https://api.bitcoinaverage.com/history/USD/per_minute_24h_global_average_sliding_window.csv but am really looking for data going further back (daily would be fine).

ETA: Actually, I can't make sense of the URL above.... the "USD global average" column seems to be blank unless LibreOffice messed up the CSV import...

Thanks

roy

[btc_enigma]

Bookmarked !

[BitcoinAverage]

Does anybody know any price ticker extensions for other browsers?

Alex at BitcoinAverage.

https://addons.mozilla.org/en-US/firefox/addon/bitcoin-price-ticker/

https://addons.opera.com/en/extensions/details/bitcoin-ticker/?display=en

Sorry, fixing my question.
Does anybody know any price ticker extensions for other browsers that can show BitcoinAverage price?

I've googled those two before, but none of these use BitcoinAverage, and Opera one uses MtGox, which is completely not great.

Alex at BitcoinAverage

[BitcoinAverage]

Excellent site!

I'm curious about two things:

• ETA on embeddable charts
• How do you plan to monetize your service?

Hmm, I'm not sure about ETA for embeddable charts, but we'll see what we can do here. What charts would be most interesting for you?

As for monetisation - I'm receiving plenty of tempting advertising propositions, though as for now I'm keeping site clean and clear of that stuff. Also our API is used by multiple various other services, including several commercial ones, so I see some potential in there also. Still, right now my goal is to reach the status of universal price reference service. Monetisation is not of priority right now.

Alex at BitcoinAverage.