Bitcoin, the online currency and payment system that had once gained notoriety due to a number of controversies that it generated, is currently back in favor in the mainstream. With increased market acceptance and integration into major payment gateways, Bitcoin is now considered a convenient and innovative medium for online payments.
At its heart, Bitcoin is an electronically held form of digital currency, created as a by-product of people who provide computer power to solve complex mathematical problems. After a duration of time when its acceptance was mixed due to its unregulated nature, Bitcoin is now being perceived more favorably. Bitcoin mining is now an activity which sees massive participation and amazing traction, and major online stores have started featuring sections on their websites where people can buy and sell products using this currency. Consequently, the need for web crawling services for Bitcoin has also become apparent, with many Bitcoin related companies starting to boost their business by investing their time, skills, efforts, and resources in web scraping efforts.
Bitcoin and Scraping
Web scraping involves using programs called scraping bots to crawl through the information available on the internet, picking up specific information, and storing it in a database for later use. The program can be preconfigured to pick up only a set kind of relevant data. For Bitcoin companies, the uses and benefits of web scraping are many. With creative use of this technique, many Bitcoin companies have been able to add significantly to their business, and explore new avenues where the currency can flourish in future.
E-commerce companies have woken up to the appeal of Bitcoin as a viable online currency, and at present there are many locations on the internet where products and services can be purchased via Bitcoin. There are also a number of websites that specifically feature product listings for Bitcoin. For offering services like these, Bitcoin crawling is an essential activity. As it is for web scraping for e-commerce, crawling for Bitcoin is a sure way to gather relevant product information from multiple web sources and display them at one place for people to take advantage of them.
The Feed – BTC Economy
One of the popular and widely used crawling tools for the Bitcoin market is the BTC Economy plugin. It is a simple plugin which displays a feed of products and services being sold around the web in the community of Bitcoin. Created to make the Bitcoin economy more discoverable and usable, this plugin tell people what they can buy with Bitcoin.
Core to the plugin is a web crawling tool that constantly scours the web for information on Bitcoin product listings and appends found information on to the live BTC Economy feed to create a single master repository of information on where, when and how bitcoins can be utilized for purchase. The plugin is readily available and can be easily integrated into web pages just by including a line of code. Many websites that specialize in listing Bitcoin products are currently using this plugin to leverage the positive aspects of web scraping into Bitcoin transaction services. This is a great way to take the already growing Bitcoin economy further, and to make people aware that there are thousands of products on the internet that they can purchase if they have Bitcoin currency.
Fueling the Bitcoin Industry
In many aspects, Bitcoin companies are similar to other e-commerce companies, with the only point of difference being the kind of currency in use. The Bitcoin buying and selling community is also at its infancy currently, but is rapidly growing and set to become a major part of the ecommerce market. In this recent scenario, web crawling services for Bitcoin companies can be seen as an indispensable tool as it has always been for the ecommerce industries.
For companies to stay on top of competition and provide their users with information that is current, relevant and actionable, web crawling and data extraction is an excellent move. Bitcoin companies that use web scraping to gather data are able to provide users with hundreds and thousands of live links where they can get exactly what they want by spending Bitcoin currency. The collected data can also be collated and analyzed to create price comparison charts and full Bitcoin product catalogs, giving prospective customers a wide field of choice while looking for things to spend their Bitcoin currency on.
A number of major players on the e-commerce market have now started accepting Bitcoin as currency for their transactions. For those businesses, web scraping can be a potent tool, allowing them to feature a wide range of products for the Bitcoin community. While major integration is yet to happen, listings for off-site transactions are immensely popular at the present moment, and it is not a leap of imagination to think that in the near future, Bitcoin will be integrated as an accepted currency directly into e-commerce websites.
There are numerous other productive uses that web crawling can be put to in the context of Bitcoin currency. Bitcoin companies can also use web scraping to glean important information from Bitcoin links and use the information to accurately pinpoint and analyze fluctuations in the valuation of the currency. A concerted effort to do this can actually help moderate the value of Bitcoin as a viable currency in the long run. As prices fluctuate over the internet, concrete information about these fluctuations can be analyzed in real time, and strategies can be devised to regularize and standardize the value of Bitcoin currency. This can be a step towards regulating the currently unregulated mode of currency, and also dispel people’s doubts about its authenticity and safety.
Bitcoin has the potential to permanently revolutionize the concept of online payment. It is headed in the right direction, and with proper adoption and the correct use of web crawling to further its cause, it is sure to gain further momentum with regular internet users in future. For Bitcoin companies, web scraping presents a golden opportunity to leverage all the power and potential of this currency, and to use it to further their business interests.
What are your thoughts about using web crawling to improve the scope and coverage of BitCoin? Do write in to us with your views and let us know.