Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: babo on October 02, 2024, 10:41:02 AM
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not made by me is made by gbianchi of bitcointalk but is really interesting
UTXO and wallet increase for 2 month in row, and is a good news of course, mean blockchain is in health
clearly these are things that should be taken with a pinch of salt and do not indicate a close correlation with the price, but I was sure that you would like it and therefore I reported what others wrote
[link (https://bitcointalk.org/index.php?topic=5379847.340)]
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block# 854868 2024-07-31 23:52:07 num UTXOrat %of tot %dead diff prev value %TotVal %vdead diff prev
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= DUST (<= 500 sat) 1200504 1.09 2.30% 23.74% 35729 2.64450 0.00% 2.22% 0.11946
> DUST <= 0.00001 BTC 3581865 1.04 6.85% 0.00% 91368 25.66360 0.00% 0.01% 0.57675
> 0.00001 <= 0.0001 BTC 10732933 1.43 20.52% 0.01% 105344 489.91657 0.00% 0.01% 3.59690
> 0.0001 <= 0.001 BTC 12970927 2.08 24.80% 0.14% -493374 5395.02771 0.03% 0.30% -177.57429
> 0.001 BTC <= 0.01 BTC 11482161 3.66 21.95% 0.13% -206882 44780.40857 0.23% 0.23% -632.09696
> 0.01 BTC <= 0.1 BTC 7892151 5.41 15.09% 0.55% -4066 283512.03226 1.44% 0.62% 402.80026
> 0.1 BTC <= 1 BTC 3533673 8.92 6.76% 0.46% 22423 1183600.52408 6.00% 0.79% 6200.48450
> 1 BTC <= 10 BTC 770031 17.79 1.47% 1.07% 1626 2115021.85313 10.72% 1.39% 2738.47387
> 10 BTC <= 100 BTC 129693 35.47 0.25% 26.96% 49 4318765.42019 21.89% 39.75% -13059.76792
> 100 BTC <= 1000 BTC 13392 53.83 0.03% 0.22% 143 3904076.00602 19.78% 0.20% 17345.90743
> 1000 BTC <= 10000 BTC 1953 1004.57 0.00% 0.05% 49 4754407.70817 24.09% 0.07% 11610.16569
> 10000 BTC <= 100000 BTC 100 155.80 0.00% 0.00% -1 2422499.77300 12.28% 0.00% -41942.06373
> 100000 BTC 4 290.25 0.00% 0.00% 0 701182.13857 3.55% 0.00% 32237.50247
Total Actives 52309387 3.53 100.00% 0.81% -447592 19733746.11636 100.00% 8.96% 14728.12442
UTXO 184643626 -1004535
Transactions 1052423197 19514744
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block# 859295 2024-08-31 23:43:48 num UTXOrat %of tot %dead diff prev value %TotVal %vdead diff prev
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= DUST (<= 500 sat) 1237740 1.09 2.36% 23.03% 37236 2.76945 0.00% 2.12% 0.12495
> DUST <= 0.00001 BTC 3617480 1.04 6.90% 0.00% 35615 25.87539 0.00% 0.01% 0.21179
> 0.00001 <= 0.0001 BTC 10800868 1.45 20.61% 0.01% 67935 490.34115 0.00% 0.01% 0.42458
> 0.0001 <= 0.001 BTC 12856621 2.13 24.53% 0.14% -114306 5348.68193 0.03% 0.30% -46.34579
> 0.001 BTC <= 0.01 BTC 11500106 3.68 21.94% 0.13% 17945 44994.82972 0.23% 0.23% 214.42116
> 0.01 BTC <= 0.1 BTC 7956849 5.37 15.18% 0.54% 64698 286045.01921 1.45% 0.61% 2532.98695
> 0.1 BTC <= 1 BTC 3530175 8.85 6.73% 0.47% -3498 1182823.12514 5.99% 0.79% -777.39893
> 1 BTC <= 10 BTC 770910 17.30 1.47% 1.07% 879 2116402.68546 10.72% 1.39% 1380.83233
> 10 BTC <= 100 BTC 130088 36.48 0.25% 26.88% 395 4328129.81284 21.92% 39.66% 9364.39266
> 100 BTC <= 1000 BTC 13610 52.37 0.03% 0.21% 218 3989518.38381 20.20% 0.20% 85442.37779
> 1000 BTC <= 10000 BTC 1955 1079.47 0.00% 0.05% 2 4750408.44094 24.06% 0.07% -3999.26723
> 10000 BTC <= 100000 BTC 97 261.85 0.00% 0.00% -3 2340611.74070 11.85% 0.00% -81888.03230
> 100000 BTC 4 531.75 0.00% 0.00% 0 702791.78534 3.56% 0.00% 1609.64677
Total Actives 52416503 3.54 100.00% 0.80% 107116 19747580.49110 100.00% 8.95% 13834.37473
UTXO 185542469 898843
Transactions 1070954802 18531605
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block# 863563 2024-09-30 23:39:07 num UTXOrat %of tot %dead diff prev value %TotVal %vdead diff prev
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= DUST (<= 500 sat) 1294366 1.09 2.46% 22.02% 56626 2.95687 0.00% 1.99% 0.18742
> DUST <= 0.00001 BTC 3659054 1.05 6.96% 0.00% 41574 26.20087 0.00% 0.01% 0.32548
> 0.00001 <= 0.0001 BTC 10838866 1.47 20.62% 0.01% 37998 490.60524 0.00% 0.01% 0.26409
> 0.0001 <= 0.001 BTC 12815337 2.18 24.39% 0.14% -41284 5336.88506 0.03% 0.30% -11.79687
> 0.001 BTC <= 0.01 BTC 11519482 3.73 21.92% 0.13% 19376 45033.51889 0.23% 0.23% 38.68917
> 0.01 BTC <= 0.1 BTC 7973965 5.33 15.17% 0.54% 17116 286571.16978 1.45% 0.61% 526.15057
> 0.1 BTC <= 1 BTC 3535958 8.56 6.73% 0.46% 5783 1184832.94738 6.00% 0.79% 2009.82223
> 1 BTC <= 10 BTC 771902 16.96 1.47% 1.06% 992 2119124.37701 10.72% 1.38% 2721.69155
> 10 BTC <= 100 BTC 129526 36.78 0.25% 26.99% -562 4316078.37786 21.84% 39.77% -12051.43498
> 100 BTC <= 1000 BTC 13547 58.10 0.03% 0.21% -63 3986285.28888 20.17% 0.20% -3233.09493
> 1000 BTC <= 10000 BTC 1951 1124.52 0.00% 0.05% -4 4755563.73207 24.07% 0.07% 5155.29113
> 10000 BTC <= 100000 BTC 98 214.64 0.00% 0.00% 1 2349575.82820 11.89% 0.00% 8964.08750
> 100000 BTC 4 729.00 0.00% 0.00% 0 712009.10279 3.60% 0.00% 9217.31745
Total Actives 52554056 3.53 100.00% 0.80% 137553 19760917.99090 100.00% 8.95% 13337.49981
UTXO 185749482 207013
Transactions 1088746909 17792107
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UTXO and wallet increase for 2 month in row, and is a good news of course, mean blockchain is in health
Statistic you include doesn't mention anything about total wallet though. Besides higher UTXO doesn't always mean better health, when many of those are just Ordinal (or similar) UTXO.
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block# 863563 2024-09-30 23:39:07 num UTXOrat %of tot %dead diff prev value %TotVal %vdead diff prev
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= DUST (<= 500 sat) 1294366 1.09 2.46% 22.02% 56626 2.95687 0.00% 1.99% 0.18742
> DUST <= 0.00001 BTC 3659054 1.05 6.96% 0.00% 41574 26.20087 0.00% 0.01% 0.32548
> 0.00001 <= 0.0001 BTC 10838866 1.47 20.62% 0.01% 37998 490.60524 0.00% 0.01% 0.26409
> 0.0001 <= 0.001 BTC 12815337 2.18 24.39% 0.14% -41284 5336.88506 0.03% 0.30% -11.79687
Among those small UTXO, i wonder how much of those created due to Ordinal (and similar protocol) hype.
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Has anyone gotten any useful analysis from this data? UTXO analytics don't provide anything useful or indicate the number of users, network activity or price trends. The only thing that is likely to increase fees or increase adoption compared to reasonable fees is evidence of the success of decentralized money.
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Among those small UTXO, i wonder how much of those created due to Ordinal (and similar protocol) hype.
ordinals and inscription have certainly done a lot in this regard
if you think about it they certainly increased the cost of the fees in a scary way in the period in which they were super popular
they are dormant now but in any case there is a market behind them so every now and then we have a flash
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Has anyone gotten any useful analysis from this data? UTXO analytics don't provide anything useful or indicate the number of users, network activity or price trends. The only thing that is likely to increase fees or increase adoption compared to reasonable fees is evidence of the success of decentralized money.
I think more addresses (not UTXO) should mean more decentralization of money. As everyone who joins bitcoin network will certainly create at least 1 address.
This could an interesting statistic to see.
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Yes
these statistics are made by gbianchi who has a bitcoin node specifically for this
he himself created a python script that allows him to extrapolate this data and periodically publishes an extract of the data
he also makes graphs that give, let's say, a sort of idea of how the bitcoin blockchain is doing
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I think more addresses (not UTXO) should mean more decentralization of money. As everyone who joins bitcoin network will certainly create at least 1 address.
This could an interesting statistic to see.
Here:
https://bitinfocharts.com/bitcoin-distribution-history.html
Little change in the last 3 years, almost like we hit a flat sport in growth.
And yeah, most of those UTXO and just as well the number of transactions is because of runes, as they are smaller in size you can fit more in in a block than your usual tx, so this is why we even have record daily tx, without them I would bet we would have an empty mempool.
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anotther post of gbianchi
(https://i.postimg.cc/g2Jw4yXX/nfasce-cnt-2019-01-01-set1.png) (https://postimg.cc/XpR7YCg4)
this is the trend of addresses with balance and it is very interesting as a statistic
in practice it is the graph of the previous data
You also understand that this is not a clear indication of the price but of the use of the bitcoin blockchain network
and makes it clear that the network is healthy
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And yeah, most of those UTXO and just as well the number of transactions is because of runes, as they are smaller in size you can fit more in in a block than your usual tx, so this is why we even have record daily tx, without them I would bet we would have an empty mempool.
I agree.
Mempool is full but price is still low. W3 can easily get a confirmation with 2 sat vb, which is pretty amazing imo.
We could see 1 sat vb without runes... but that's not a big problem for now.
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yes true I keep the mempool monitored, we have been at really low prices for a long time
so we have very large and further room for growth, we can really increase the tx as if we wanted to conquer the world :)
after all, we have records to beat
of course is my humble opinion