What do you think about the convention for the bitcoin exchanges to show the volume as the average for the 24 hours ?
Other financial markets, even the futures markets in the US, which are open 24h during the weekdays, always post the volume for the given day.
Isn't easier to compare the volume for the day this way ?
We could also avoid the case of the "decreasing volume", which may confuse some people.
The exchanges would have to agree on using the single timezone for the ease of comparison.
After a while, people would know what the average volume is e.g. by mid-day New York time and they could see how the current volume compares to it.
It really makes no difference to me. 24 hour volumes suit me well and I am used to them. The problem with your suggestion is that Bitcoin exchanges are much more global or I would even say completely global. Not like the exchanges that are based only in the US for example. For these exchanges it makes sense to report daily volume. For a Bitfinex exchange that can use a customer in Europe, customer in the US and customer in India, 24h volume is the most suitable in my opinion.
Yes, many people got used to that being the standard for the bitcoin markets.
However it is not the case for the traditional exchanges.
Given that many people think that success of bitcoin to large extent depends on its adoption by institutional clients, perhaps we should consider reporting the volume "the way they do it on Wall Street" ?
Would you be opposed to such change, or it makes no difference to you ?
Don't you find nowadays that a day after a busy day, once the markets slow down, it is difficult to tell how much volume is really trading on the exchage ?
