Post
Topic
Board Project Development
Re: BitcoinAverage.com - independent bitcoin price
by
alexykot
on 03/12/2013, 00:04:50 UTC
Maybe you could publish signed daily averages and notarise them on the blockchain with http://virtual-notary.org/, https://www.btproof.com/ and https://www.proofofexistence.com/?

Hmm, interesting idea. Probably we could do that, yet I'm not sure if it's viable for us to pay 0.0001 (current tx fee) for each timestamp. Assuming we will do it once a day - in a year we will spend ฿0.365 on it, which becomes a noticeable amount. I think we'll wait until version 0.9 for it, when transaction prices will be able adjust to hugely increased exchange rates.

I've added a note at github on it, will get back to it later on.

Alex at BitcoinAverage.