Hi,
Terrific service, use it all the time. You guys definitely need a smartphone app. A 1x1 Widget on the home screen that displays the current mBTC rate is easy to develop and would be awesome.
I did not read the whole thread and I'm sure this has been requested before, so pls consider it as +1. Cheers.
Topic: BitcoinAverage.com - bitcoin price index - page 12. (Read 70043 times)
Thank you but that doesnt answer my question:
Where does BitcoinAverage get their rates. Specifically how do they convert from USD to MXN (Mexican Pesos). Note that there are not any exchanges operating in MXN.
On the right hand side of of the main currencies, click "more currencies" and take your pick. Or take this shortcut: https://bitcoinaverage.com/#MXN
Yes I know that non major currency rates are calculated. I want to know *how* they calculated. Where does BitcoinAverage.com gets the conversion rates?
I see.
https://bitcoinaverage.com/explain.htm
Where does BitcoinAverage get their rates. Specifically how do they convert from USD to MXN (Mexican Pesos). Note that there are not any exchanges operating in MXN.
Can you tell us how you calculate the exchange rates for non major currencies like MXN (Mexican Pesos)?
On the right hand side of of the main currencies, click "more currencies" and take your pick. Or take this shortcut: https://bitcoinaverage.com/#MXN
Yes I know that non major currency rates are calculated. I want to know *how* they calculated. Where does BitcoinAverage.com gets the conversion rates?
I see.
https://bitcoinaverage.com/explain.htm
Quote
[...] Global average is calculated using fiat exchange rates, so it can be shown in nearly any fiat currency. To calculate global average we choose a target currency (USD as example).
Then we convert each market's weighted average into target currency using fiat exchange rates provided by openexchangerates.org. [...]
Then we convert each market's weighted average into target currency using fiat exchange rates provided by openexchangerates.org. [...]
Can you tell us how you calculate the exchange rates for non major currencies like MXN (Mexican Pesos)?
On the right hand side of of the main currencies, click "more currencies" and take your pick. Or take this shortcut: https://bitcoinaverage.com/#MXN
Yes I know that non major currency rates are calculated. I want to know *how* they calculated. Where does BitcoinAverage.com gets the conversion rates?
I see.
https://bitcoinaverage.com/explain.htm
Quote
[...] Global average is calculated using fiat exchange rates, so it can be shown in nearly any fiat currency. To calculate global average we choose a target currency (USD as example).
Then we convert each market's weighted average into target currency using fiat exchange rates provided by openexchangerates.org. [...]
Then we convert each market's weighted average into target currency using fiat exchange rates provided by openexchangerates.org. [...]
Can you tell us how you calculate the exchange rates for non major currencies like MXN (Mexican Pesos)?
On the right hand side of of the main currencies, click "more currencies" and take your pick. Or take this shortcut: https://bitcoinaverage.com/#MXN
Yes I know that non major currency rates are calculated. I want to know *how* they calculated. Where does BitcoinAverage.com gets the conversion rates?
Can you tell us how you calculate the exchange rates for non major currencies like MXN (Mexican Pesos)?
On the right hand side of of the main currencies, click "more currencies" and take your pick. Or take this shortcut: https://bitcoinaverage.com/#MXN
Can you tell us how you calculate the exchange rates for non major currencies like MXN (Mexican Pesos)?
Great, something from the community rather than taking advantage of the community, keep up the good work 
+1
Great, something from the community rather than taking advantage of the community, keep up the good work
Hi
Previous message was not specific enough.
BitcoinAverage is looking for a business cofounder, able and willing to take us to the top. We're ready to share equal part of the company and discuss business models.
Contact us here or at [email protected]
Regards
Alex at BitcoinAverage.
Previous message was not specific enough.
BitcoinAverage is looking for a business cofounder, able and willing to take us to the top. We're ready to share equal part of the company and discuss business models.
Contact us here or at [email protected]
Regards
Alex at BitcoinAverage.
We are looking for someone to help us with some small PR tasks, if thats of any interest to people following this thread please email us!
Also if anyone would like to contribute to the design/charts we would be interested in hearing from you
Also if anyone would like to contribute to the design/charts we would be interested in hearing from you
great tool
Well ya know, give the users the option to decide that themselves IMO.
While i understand ignoring mt gox for "withdrawals blocked" - it doesn't change that trades are occurring. Kind of need the data still. Thanks
It's not data, it's noise.
While i understand ignoring mt gox for "withdrawals blocked" - it doesn't change that trades are occurring. Kind of need the data still. Thanks
Hmm, I see what you mean now.
I think "closing price" here would be not really fair, as any particular time you'll pick up for this calculation will be inevitably favoring some markets that fit their daytime trading activity nicely and neglect others.
A volume-weighted average over last 24h seems much better to me here. Because it will include activity on all global markets, which ranges and differs a lot during the day, and won't favor particular markets above the others, but will consider trading volume only, which is measurable and unbiased parameter. And it can be shot at any time during the day, particular time is not important in this case. Midnight by GMT would be handy reference point probably.
I think "closing price" here would be not really fair, as any particular time you'll pick up for this calculation will be inevitably favoring some markets that fit their daytime trading activity nicely and neglect others.
A volume-weighted average over last 24h seems much better to me here. Because it will include activity on all global markets, which ranges and differs a lot during the day, and won't favor particular markets above the others, but will consider trading volume only, which is measurable and unbiased parameter. And it can be shot at any time during the day, particular time is not important in this case. Midnight by GMT would be handy reference point probably.
Closing price is what Coindesk does, but I'm not sure it makes a lot of sense for a market that doesn't close. It you had to pick a single time for a daily pricing 'fix' then noon would make more sense IMHO. Personally I think a 24hr average, midnight-to-midnight, would make a lot of sense (and midnight GMT is as good a choice of midnight as any, although I don't care that much).
I'm not really wedded to details here; I'd just like to see more people publishing tables that say Bitcoin was worth this much on this particular date. (If multiple such sources emerge I will probably just use a simple average of the published indices unless/until one emerges as the de facto standard.)
roy
Excellent site!
I'm curious about two things:
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.
The primary charts in which I would be interested would be average price and trading volumes. Thanks for the excellent service you're providing; I'll stay tuned.
Hmm, this is a good question actually. We're using their API tickers, which provide trading volumes separately for different currencies. I assume they do calculations right and not provide doubled volumes through their API, however I couldn't find this explicitly stated anywhere. I'll approach them directly and find out. Will update you when I'll know more.
I'd naturally expect that summing the currency volumes would double-count the cross-currency trades. Will be interested to hear what you find out.
Volume weighted averages would be a very good addition.
This is exactly what we are doing since very beginning. Or did I misunderstand you?
Volume-Weighted Average Price (VWAP) normally refers to the average price of some security or commodity based on trades over some period of time, calculated in the 'obvious' way (i.e. what we were talking about above). I agree it seems slightly odd to refer this as 'volume weighted' but I suppose it means as opposed to the doing the completely insane thing of just calculateing the simply average of the 'price' column in your spreadsheet of trades without paying any attention to the quantity the trades were for.
ETA: I suppose it could be in contrast to a time-average...
roy
This is exactly what we are doing since very beginning. Or did I misunderstand you?
You are volume weighting the prices of different exchanges at the same point in time, in addition it would be nice to have volume weighted averages of the same exchange (or group of exchanges) over the past 24 hours.
Volume weighted averages would be a very good addition.
This is exactly what we are doing since very beginning. Or did I misunderstand you?
Alex at BitcoinAverage
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