BlockStreet - Global Bitcoin Index™
by: Amith Nirgunarthy • 60
The Global Bitcoin Index™ offers a real-time measure of Bitcoin prices. A simple global bitcoin index you can trust. It’s about time Bitcoin benchmarks kept pace with the changing world.
The Global Bitcoin Index™ is the most authoritative index for Bitcoin pricing. The criteria for index membership, calculations used, and all data is publicly available without restriction. The GBI™ is fiat money and volume agnostic and uses SEO metrics as the main driver for weighting.
Global Bitcoin Index™ Methodology
Bitcoin trading is still in its nascent stages and we expect many of today’s leading exchanges to be displaced as advancements in blockchain technology, further clarity of the regulatory environment, mass adoption and other catalysts come to light.
The index was developed by taking into account its dynamically updated composition and representation of all of all major bitcoin indexes that report on the bitcoin price.
Bitcoin is the world’s currency and it belongs to everyone equally. The Global Bitcoin Index™ is fiat money and volume agnostic. Our proprietary model calculates the price of bitcoin by weighting each index on a variety of SEO factors.
Global Bitcoin Index™ Collection
The Global Bitcoin Index™ spot price is calculated every 10 seconds by taking the volume weighted average of the last 24 hours of trading, using Coordinated Universal Time (UTC), the time standard commonly used across the world to synchronize time across internet networks.
We hope this straightforward formula makes it easier for analysis as well as helps users understand any variances in the data as more exchanges are brought into the index.
If any changes are made in the way we calculate the formula we will update those changes here as well as the Global Bitcoin Index™ API documentation.
Global Bitcoin Index™ Data
Timestamped data is collected from each exchange included in the index every 10 seconds from three IP addresses in three different countries. We do this to minimize ERROR return values to ensure data integrity.