just the actual avg. price is missing 🤔
This is geek porn. This analyses Bitcoin chain data to estimate average price on any given day just from the BTC amounts sent on chain. The script assumes that people send round dollar amounts, so they put amounts into bins based on most commonly sent amounts and they try to fit the curve of the payment amounts to this.
Very cool and clever.
How could this be used? For example if you want to build an island economy that has only/mostly blockstream satellite connection and very bad internet connection: https://juraj.bednar.io/en/blog-en/2021/05/14/how-to-build-local-payment-systems-on-top-of-bitcoin/
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