BitcoinAverage: The Evolution of an Index
Meet BitcoinAverage, the world’s first and premier price index for Bitcoin. “There was no funding involved, it was created initially … as a hobby. I wanted to provide it to the community to do my part for bitcoin,” said Shaun Gilchrist, founder and CEO at BitcoinAverage, whose Global Bitcoin Price Index (GBX) was the first of its kind in the industry and is still the most widely used price source for the cryptocurrency. “There was truly no goal to monetise the project, it was open source and even access to the application program interface (API) was completely free, three years later, it....
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What started out as just Shaun Gilchrist’s hobby is developing to become the world’s first and premier price index for Bitcoin, BitcoinAverage. Basic physics describes how a simple innocent bathtub immersion inspired an innovation that has affected mankind. Archimedes did not set out to discover the principle of floatation, but ships are built today based on the principles he discovered. “There was no funding involved, it was created initially as a hobby. I wanted to provide it to the community to do my part for bitcoinCT r: 8,” said Shaun Gilchrist, founder and CEO of BitcoinAverage,....
Leading Bitcoin price index, BitcoinAverage, has announced the release of its new system. It claims to revamp the pricing index to accommodate the needs of users at every level from casual to enterprise-grade. The London-based company has been seeking to establish itself as the leading source for Bitcoin pricing since 2013 and has since been developing open-source application programming interface (API) tools to provide real-time BitcoinCT r: 8 data to mobile apps, web services and businesses worldwide. It says in the announcement that BitcoinAverage is preparing for the launch of a new....
The Bitcoin Index may change significantly if exchanges which have been left out before are now considered, according to plans by BitcoinAverage. Technical market analysis usually involves mathematical calculations of certain averages and is usually influenced by the volume of trades over a given period of time. In the Bitcoin world it is known that some exchanges don’t charge fees on either side of trades. Exchanges that manipulate volume of trade. Exchanges which do not charge fees are mostly omitted on the Bitcoin index. This is usually due to the suspicion of the “faking” of the....
The price of bitcoin had little to show last week relative to the range of price movement mostly sideways trading, which hit $423 on the upper limit and $415 on the lower end. The Weekly BitcoinAverage Report. The most exciting activity was a run up to $424 on April 8th, applying counterweight to the previous week’s low of $416. Later, a sell-off to $412 after failing to break to break up wards ruffled some feathers. The low shook out the feeble hands, turned traders bearish and tossed off weak bulls as many had been expecting a final break of $425. Seen above — a 12-hour chart on Bitstamp....
CoinDesk has added Bitfinex to the Bitcoin Price Index (BPI) today as of 16:00 GMT. Bitfinex, which is incorporated in Hong Kong, has been on CoinDesk's radar for possible inclusion in the BPI for some time now. Over the past several weeks, and particularly since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of US dollar-denominated bitcoins traded. CoinDesk has also verified that Bitfinex meets the CoinDesk BPI criteria, which include rules ranging from minimum trade size to maximum customer withdrawal....