I will keep this page updated with the commonly asked questions I get, but if you have a question not answered here please feel free to ask on Bitblabber's Facebook Page
. Thanks! - Cow
Frequently Asked Questions
Can I use this data along with automated trading software?
This is the most common question I get, and my answer would be that the intended purpose of building this bot was to pick up on news or social trends that I would otherwise miss.
I will have links to an RSS feed and other data formats up shortly, but I would highly discourage anyone from using this bot in an automated fashion as it is intended to aid in research only.
Is there any cost to use this service?
There will never be a cost, limit, or advertising associated in any way with this service, it is a gift from me to you.
I do however welcome you to donate to my favorite charity mentioned at the bottom of this page.
How does Bitblabber calculate buzz?
I've made the decision to keep significant aspects of the Bitblabber bot secret for a variety of reasons, as well as to respect the wishes of some of my data providers who wish to keep the existence of their software a secret.
I will however give a very generalized description of the Buzz Score calculation below (excuse the messy HTML for now):
Buzz Score = V ● F ● G ● N ● ( (Spos + Sneu + 1) / (Sneg + Sneu + 1) )
V = Volume of search and social activity compared to mean activity of comparable contemporary terms.
F = Frequency of activity, or how "spread out" the activity is throughout the day.
G = Granularity of activity, or a ratio of unique searches, posts, authors, etc. to volume.
N = Novelty of activity, or how many times has a similar set of data led to a similar score in the past.
Spos, Sneu, Sneg = Social sentiment scores for positive, neutral, and negative sentiment.
* The formula above represents only a high-level abstraction of the Buzz Score calculation, but describes the primary elements used.
All values go through a process of normalization to arrive at a value in the range of 0.0 to 1.0, and are then all multiplied together to produce a value between 0.0 and 1.0 which is our Buzz Score.
A calculated value of "0.063" would display on the site as "6.3".
Data sources used include but are not limited to Google Trends, Google Search, Reddit, Facebook, Twitter, YouTube, Digg and news feeds, with more to be added soon.
How often are Buzz Scores updated?
Scores are currently updated around 7AM and 7PM Pacific Standard Time (PST). Until the update frequency is increased, I will be trying to time the updates
at the most useful times for traders in the U.S.
I am working to increase the frequency of data gathering, and will ideally have scores updating every 15 minutes once I am able to increase the usage limits of some data sources.
I do not partially update the data set as many of the calculations are self-referential, and I do not want to dillute or impact the accuracy of the intended valuations of data.
What is planned for Bitblabber in 2018?
My baby Bitblabber is still in its infancy and I will continue to refine it's data gathering techniques and analysis to be as useful and accurate as possible. Planned features for the very near future are:
- RSS, XML, JSON feeds. (by this next week)
- Expandable live coin stats from CoinMarketCap.com. (by this next week)
- Cross-platform mobile app with alerts functionality. (as soon as my budget allows, as you can see by the design of this site I would be doing everyone a favor having someone else handle this)
- Bitblabber will soon have it's own cryptocurrency that is just for fun and intended to vote with or against the bot. If the voting system becomes used/busy enough
I would like to incorporate that activity in to the bot's analysis as well somehow. I won't be claiming my token will track banana freshness, change the world, or have an ICO, there will just be a faucet that
gives you one coin a day to vote with and based on the CoinMarketCap stats for the past day you will win or lose the tokens you vote with.
How can I help?
I built this site because I wanted something like it, and the solutions I found on the web either didn't work very well or didn't have the particular features I wanted. This started as a simple script to e-mail myself Google Trends
alerts but has evolved in to it's own little creature that I will continue to feed and build upon.
If you are just in one of those moods where you must donate to something, please consider donating or purchasing merchandise from the charity most dear to my heart,
Goats of Anarchy
. A donation to them would mean more and motivate me a thousand times more than any money given to me.
Apart from that, if you find this service useful in any way please tell a friend and help spread the word about Bitblabber!
Thank you and GOOD LUCK TRADERS!