Don't invest in cryptoassets unless you're prepared to lose all the money you invest. Cryptoassets are high-risk investments, and you are unlikely to be protected if something goes wrong.Take 2 mins to learn more

Thanks to our supporters

brand imagebrand image
How-bitcoin-is-becoming-more-gold-like-with-ByteTree-0-4-screenshot.jpg
listen

Bytetree’s new method to capture transaction volume with Charlie Morris

Charlie Morris, chairman of ByteTree, provided a macro view of onchain data over the past week using a new method to capture transaction volume. He said that with the blockchain, transaction data is subjective for various reasons. (39:30) “Our new methodology strips out a lot…

Share

Share to Facebook
Share to Twitter
Share to Linkedin

Charlie Morris, chairman of ByteTree, provided a macro view of onchain data over the past week using a new method to capture transaction volume. He said that with the blockchain, transaction data is subjective for various reasons.

(39:30) “Our new methodology strips out a lot of this fake traffic; well not fake traffic, but confusing, obfuscating traffic that’s been recurring over the summer and brings it back down. You can see that in the chart…It’s not just the fact that we’ve managed to get rid of some of this traffic, we’ve identified new types of traffic, which are also interesting.”

Morris also illustrated the difference between the complex and batch spend, saying:

(40:04) “The complex spend really is the attempt to look for privacy. So you’ve got these transactions that look much larger than they actually are economically. So there could be $100 million moving around but actually there’s only $5,000 in each and every transaction…And the other one is batching. So batching can be used by legitimate organizations like Coinbase, for example, to save their customers money they might put 100 different transactions together.”

Bitcoin’s highest returns are when the velocity is above 600%.

(43:05) “Whenever the velocity of the network is above 600%, you tend to make quite a lot of money. In this particular chart, bitcoin’s up 10x or a bit more since 2014…and it’s up another 5x if you’re invested when the network was above 600%. And whenever the bitcoin network velocity was below 600%, it was never profitable. Ever…The lesson is very simple: A lively network is a valuable network.”

Gerelyn Terzo
Gerelyn Terzo
Gerelyn caught wind of bitcoin in mid-2017 and after learning about the peer-to-peer nature of Satoshi's creation has never looked back. Previously she covered institutional investing and fintech for several major trade publications. Gerelyn resides in Verona, N.J.

You may also like

Article-Thumbnail-Cesar-Cerrudo.jpg
listen

Cybersecurity in crypto: Attack on DeFi Exchanges

What exactly happened in the biggest hack in DeFi? Can it happen again? As the ecosystem grows, its market has also experienced a huge pump with a current market capitalization of over $121 billion. However, this growth has also shined a light on cybersecurity issues….

Read more
obi-nwosu-e1618557591836.jpg
read

Decentralisation – coming to a screen near you

You should never laugh at people from the past, unless you’re comfortable with future generations mocking you. But it’s still funny to think that in the early days of radio, families used to gather in front of their giant, sideboard-sized sets and stare at them…

Read more
Henry-Burrows-Featured-Image.jpg
read

Crypto-backed property purchases are on the rise among first-time buyers

Traditional businesses are partnering with blockchain intelligence firms to facilitate house purchases for a new generation of young crypto entrepreneurs. In December 2017 two properties were purchased in the UK with Bitcoin.  The purchases sparked excitement that Bitcoin-backed property transactions would become commonplace, reflecting the…

Read more
Onchain-Reaction-Featured-Image.jpg
listen

Onchain Reaction with Tom Salter – Who Has Been Driving Bitcoin’s August Price Rally?

Tom joins to review Bitcoin’s price rally, along with the aftermath of Chinas’s crackdown in July and the explaination behind the market’s current bullish picture.

Read more

Recommended

Subscribe to us

Understanding your dog for dummies cheatsheet

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.