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bitonic 11.97% 257.14 0.593 EUR
Is this data from https://bl3p.com ?
Quote
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.
Topic: BitcoinAverage.com - bitcoin price index - page 14. (Read 70036 times)
A question regarding:
Is this data from https://bl3p.com ?
They say they're online since 21. January and their 30d charts shows a volume of 4 BTC. Something seems amiss.
Is this data from https://bl3p.com ?
They say they're online since 21. January and their 30d charts shows a volume of 4 BTC. Something seems amiss.
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.
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.
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?
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.
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
Great site! 
Any plans to add more (possibly all from site) currencies to API?
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
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?
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
Great site!
Any plans to add more (possibly all from site) currencies to API?
Any plans to add more (possibly all from site) currencies to API?
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!
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!
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.
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?
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?
That is not BTCAVG mistake, but the Chinese exchanges tempering with their API streams.
Yes its the chinese mistake. But it is also BTCAVG responsibility to handle such situations when we know something is wrong. Manipulated volumes are a serious issue.
Let's get the button to ignore mtshit back.
Yeah I liked that button.
That is not BTCAVG mistake, but the Chinese exchanges tempering with their API streams.
I really appreciate your website but i think some of your chinese markets show completely wrong numbers for the volumes. For example fxbtc shows a 24h volume of 22620.9 BTC probably from here: https://data.fxbtc.com/api?op=query_ticker&symbol=btc_cny
But that seems completely unplausible. According to bitcoin-analytics their complete order book is only 1200k CNY and 180 BTC. In the chart on the homepage you can actually see very small trades and a daily volume of about 490 BTC. So maybe that 22620.9 from their api is the 30 day BTC volume. You should clarify that or remove it from your computation because now it is by far the largest contributing market.
And do we know whether we can trust data from okcoin now? They had been accused to fake their volume and are still reporting far more 24h volume than even mtgox/bitsamp/btce. That's also not plausible.
Maybe you could add a switch to remove suspicious markets from price computation.
But that seems completely unplausible. According to bitcoin-analytics their complete order book is only 1200k CNY and 180 BTC. In the chart on the homepage you can actually see very small trades and a daily volume of about 490 BTC. So maybe that 22620.9 from their api is the 30 day BTC volume. You should clarify that or remove it from your computation because now it is by far the largest contributing market.
And do we know whether we can trust data from okcoin now? They had been accused to fake their volume and are still reporting far more 24h volume than even mtgox/bitsamp/btce. That's also not plausible.
Maybe you could add a switch to remove suspicious markets from price computation.
Data wasnt collected before.
A great idea. Any reason why the all time stats (per_day_all_time_history USD) cannot be extended before 03/09/2013?
To make good trading decisions you need ALL the data.
Thanks
To make good trading decisions you need ALL the data.
Thanks
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Google "free image hosting", take your pick, upload your image at that site and it will return a link. Post this link here.
There seems to be something strange going on with the "Global Average" number. Even though the USD and CNY (converted to USD) prices are very close and >90% of the volume, the Global Average number is much lower than either of these prices. That would imply the rest of the world is WAY below this price - which seems to NOT be the case.
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Very nice site!
May I ask why you've opted to plot all the charts on a linear scale? Is it just that this is the default used by the charting extension you've employed? Wouldn't a logarithmic scale be more appropriate in view of:
A quick glance at some long-term Mt.Gox logarithmic and linear charts highlights the absurdity of conveying Bitcoin price data on the linear scale.
May I ask why you've opted to plot all the charts on a linear scale? Is it just that this is the default used by the charting extension you've employed? Wouldn't a logarithmic scale be more appropriate in view of:
- The general preference by most FX traders and charting programs for the logarithmic scale.
- The extreme volatility of Bitcoin relative to the biggest fiat currencies.
A quick glance at some long-term Mt.Gox logarithmic and linear charts highlights the absurdity of conveying Bitcoin price data on the linear scale.
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