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There is at least one web service that produces an average over some period. As to how you pick a good weighting, it probably depends a lot on how fast you inte

There is at least one web service that produces an average over some period. As to how you pick a good weighting, it probably depends a lot on how fast you intend to flip outgoing goods/incoming currency, or where you store value. Try terms like "VWAP", "Bitcoin average price" and so on. I have no doubt a momentary search over on SSRN will produce a hundred papers entirely dedicated to formalizations of this process.

georgemcbay 14y ago
Once you formalize the process, how do you get people to buy into it? This seems like a typical techie thing of coming up with a mathematical solution to an issue that is really more about human psychology. When you have admittedly linkbaity websites screaming "Bitcoint has lost half of its value" all over the place, good luck explaining to people that we should really be averaging the value and everything is fine, and keep selling your goods at the current average price, etc. This all speaks to the immense difficultly of real-world adoption of any currency that isn't backed by real government policy.