PoW! Bitcoin Market Update
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Host on twitter: @AnselLindner https://twitter.com/AnselLindner
and the show: @btcmrkts https://twitter.com/btcmrkts
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*** Amazing bull run, 2x is the longest comedy death, bgold
Prices
Bitstamp - $5681
3M Futures - $5987
spread - $306
Once again, the period of backwardation ends with a large rally.
Market Cap - $94B
Global MC - $174B
Maximalist Price - $10478
Avg Tx Value - $4675
On chain Vol - $2.1B transacted on chain in 24 hrs
Segwit % - 11%
http://segwit.party/charts/#
I'm expecting Difficulty to increase by singe digits in 12 hours after upload of this episode
-5% or +6%
https://bitcoinwisdom.com/bitcoin/difficulty
http://fork.lol/pow/retarget
Mempool - 12MB
Got as high as 35MB in the last day, due to bcash mining profitability and anti-bitcoin miners not mining full blocks.
That's ok, they are leaving money on the table.
Localbitcoins - $48M transacted last week ~1500 btc/day
Paxful volume hit $10M
Total over $58M public OTC. This number is lower than I'd like, but consistent. Week ended 10/7 before this latest rally. So I expect this number to jump drastically.
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The Island Nation of Vanautu
https://www.sovereignman.com/international-diversification-strategies/strangely-enough-vanuatu-proves-why-bitcoin-can-never-be-banned-22485/
Demand -> Innovation -> Distribution -> Use
Fedcoin - PBOC, IMF etc
A result of people think bitcoin is a payments network, medium of exchange, but it's a store of value. National cryptos must remain centralized control, monetary policy, blockchain is inefficient, not anonymous, not fungible, etc.
This 2x drama is a golden opportunity for us to expose anti-bitcoin companies, like Xapo, Blockchain[dot]info and BitPay have exposed themselves. Big new line we see being used is that they will follow the longest chain. This is a get out clause, but also VERY dangerous.
https://twitter.com/udiWertheimer/status/918216293232332800
Bgold
http://btcgpu.org/
https://twitter.com/btcgpu
https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bgold-and-segwit2x-forks/
I'm getting bullish for bgold for several reasons:
1) the gold bug appeal
2) altcoin appeal
3) air drop appeal
4) mining appeal, PoS eth hashrate
5) it's a friendly fork
I will likely Hodl this air drop, because I expect it better than bcash, and set a good example for future forks.
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Thank you bitcoin <3. Music by Joakim Karud and Vowl
