I am under the impression that UTXOs indicate a higher number of Coins being hodled. What is the forums opinion on this network stat? I haven't seen too many discussions surrounding this.  This seems to be consistent with the great pump and subsequent collapse of 2017/18. However, since the beginning of 2019, UTXO has been skyrocketing continually with no sign of slowing. Does this indicate more holders? Do you take this to be a positive? What are your thoughts? Lets have a conversation!

Source: https://www.blockchain.com/charts/utxo-count?timespan=all

I am very aware I posted the same thing yesterday, thank you very much for the extremely valuable and insightful response. I come to this forum for such genius responses. Looking forward to your future work.


This is what I was looking for, this makes the most sense. Thanks fellow Bitcoiner.

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

Does anyone know what happened with the orderbook for coinbase pro/gdax? Went from having the usual $50 million+ in buys, and now is sitting at barely above $10 million. Dropped within the last 6 hours. Very unusual considering $50 million in buys was already low.

Oh strange, thanks for the link. I was getting this from Blockchain.com, guess they must be reporting inaccurate info again.

Thanks!

Hey guys, haven't posted in a while but have been monitoring the Bitcoin network every day as usual. Have noticed that it appears over the last few days, the pool with the highest hashrate is unknown. I could be mistaken, but I swear the Unknown hashrate used to be around 10% - 15%, but now it's nearing 20%. Any speculation as to where this large hashrate is coming from? In the back of my mind, I've always speculated it is coming from some country or government I.E russia or NK, but I am unsure how feasible this is due to the energy restraints.

My fear is that it could be from BTC.com/antpool. If so this would put them at 51% of the hashrate.

Of course I know no one has a definitive answer, I am just curious as to what you guys think the source could be.

Thanks!

Bitcoin will rise soon
Do not sell, or doom and gloom
Buy now and hold strong

first haiku

Random question, does anyone have an idea as to what happened to Tim Draper? He is relatively outspoken about Bitcoin and hasn't said anything about it since May. Almost makes me think he sold his coins... I'd think he would say something once BTC passed $10,000 but nothing...

I'm not so sure this is correct, as if this were the cause, the daily volume would be rising in proportion to the TXs per day which doesn't seem like this is the case. I'm sure a small percentage is due to people dumping, but one thing you have to keep in mind is that most exchanges are using batching now. So even if people where sending coins from exchange to exchange to dump, this would have a very small impact on the daily tx count due to batching.

Daily TX/day increasing is a very bullish sign, this is what initially caused me to buy more bitcoin during 2015. TX per day was consistently rising, and now it appears to be recovering from the collapse in tx count from the 2017 bubble. I think it would be very wise to keep an eye on this metric. I have been doing this since 2015 and it has yet to lead me wrong... Now is the time to be accumulating

It does look like a potential bull market has started, but it is still way too early to tell. In reality, there still is a lot of potential for this to be a bull trap and there could be another leg down waiting to happen. These gains are nice, but still minimal. I'd say we would need a rapid breakout above at least $4500 before we call an end to this downtrend.

This is one reason why I thoroughly despised people that learned about Bitcoin in 2017 and commented about it in 2018. They all had the "I told you so" mentality about the price crashing. It's like, "hey guys, yes I knew the price was going to crash, I've been in this community for 5 years. This was expected." But yet everyone in my circle thought they were geniuses because they avoided the crash and didn't buy Bitcoin. Why weren't they listening to me when I told them to buy back when the price was a measly $400?

Sorry, rant over. IMO things are starting to turn bullish in my opinion. Not only for technical analysis but also for the growth of the fundamentals. Bitcoin tx fees are at a low that hasn't been seen since 2014, yet daily tx volume is growing and nearing 2017 levels. This is very bullish. The lightning network has been continuing to grow over the last year (nodes, capacity, and channels), and this too is very bullish. Metcalfe's law is a real thing. Now is the time to be buying, not selling. Trust me!

I honestly think this is not the cause of one person or some conspiracy. It seems whenever there is a drastic price drop, we always try to run and find something/someone to place the blame on. Most of the time it's just the natural evolution of a parabolic price rise. The bear market has to come, and there has to be a period of consolidation and corrections.

Now with that being said and trying not to contradict myself, but if we are to place blame on anything, I would argue that the newbies that joined the crypto space in 2017 definitely are contributing to this drop. They have incredibly weak hands and will panic sell in a moments notice. Thank goodness most of these newbies fell for coins like EOS, XRP, STR, etc, so their panic selling doesn't have as much as an effect on BTC, but I'd say they have contributed to this drop in price.

There can't be a parabolic rise every single year. This year needed to be bearish due to 2017s insane price upswing. Don't be frustrated because this year isn't looking too bullish. If anything, a bearish year is good, as that gives you time to accumulate. A bearish year with Bitcoin is usually followed by a bullish year, so if we don't see any bullish action by the end of the year, that just means 2019 will likely be that much more bullish. The time to buy is when people are thinking of selling.

There is a strong resistance at $6000 in general. The price have bounced off of that range 5 or 6 times now over this last year. There is a ton of buy support at these levels. I think it's safe to say that the bottom has been found, as there would be no reason for the price to keep drifting further downwards. The price has already corrected 70% - 80% from it's 2017 high, and this is usually how big the Bitcoin corrections are after a bubble. We should be at the bottome right now, and as long as we don't break the support, I think it's safe to say we will be in a bull market very soon.

It won't drop to these prices. These FUD threads are some of the most bullish signs in this forum. These type of FUD threads were all over this forum back during the 2014 and 2015 bear market. Kwuckduck and Falllling were making these type of bearish threads all the time back then. The price was at it's bottom and was around $200 - $300. They missed out hugely, and usually these threads point to the bottom being near. The reversal will probably be happening soon. We will never see $3k again, and if you try to wait for these prices you will miss out. Take these bear threads with a grain of salt, and just know that they point to a bullish outlook.

The argument that Bitcoin naysayers use is that Bitcoin is worthless because there are thousands of other coins out there that can be created. Peter Schiff tries arguing this point a lot. Erik Voorhees had the best response to it, which is, sure you can copy and paste the Bitcoin code and make thousands of crap coins, but you cannot copy and paste the community, infrastructure, and development team that supports Bitcoin.

So no OP, no other altcoin can threaten Bitcoins existence. Bitcoin will always be ahead because it is the reserve currency of the crypto space. It will eventually become a reserve commodity for the world. Governments will eventually be buying Bitcoin to hold in their reserves. Bitcoin is far too secure, and the network is far too large for another coin to take over. Nothing can replace Bitcoins killer app of being the most secure store of value outside of any third parties control.

Also, shouldn't this be in the altcoin discussion board? I could be wrong, maybe it fits in Bitcoin discussion since it isn't about any particular altcoin.

It's not very profitable right now because we are in a bear market. It's hard to make money in a bear market, but it's really easy to make money in a bull market. The only market that could be destroyed is the crappy small scam altcoin market. I don't think those will ever recover, and only the main big altcoins will survive. Only time will tell.

The best way to make money in a bear market is to buy as much coin as possible and hodl.

I don't believe Ethereum will ever hit $15k, this is just a pipe dream. $15k per coin pegs the market cap of Eth at over $1.5 trillion. Bitcoin can surely hit this number, but Eth will have to live in it's shadow. ETH could maybe top out at $3000 USD but not much more than that. I just hope ETH recovers, because honestly it may never recover too. There are a lot of different outcomes for ETH, not all are bullish. The news about the breakthrough in sharding does give me some hope though, I was starting to think sharding was vapor ware.

The remaining 20% are probably the elderly or people in rural areas without an internet connection. I do think there is still a relatively high amount of areas in the US where you cannot get a fast, reliable broadband internet connection. What I am more interested about is finding out how many people in other countries have heard about Bitcoin. I wonder if it was as popular in other countries like it was here in America.

OP there isn't enough liquidity in the Bitcoin market for Satoshi to dump all of his Bitcoins. He would completely clear out the order books and still have a lot of Bitcoin left over.


The estimates for Satoshi's coins are definitely exaggerated. Satoshi wasn't the only early miner, as basically everyone in the cypherpunk community knew about Bitcoin because of the mailer he sent out. I'm sure some of them participated in mining to try Bitcoin out and see how it worked. IIRC Laszlo was also an early miner.


It's just an estimate based off of how many early blocks that were mined without the coins themself moving. Satoshi has never touched his coins so far, so everyone assumes all of the early blocks are his because the coins haven't moved yet. I don't think this is the case, and I do think the amount of coins Satoshi holds are less than these estimates.