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How To Read Bitcoin Data

How To Read Bitcoin Prices

How To Read Bitcoin Prices

by Frederick Reese 743 Investors read this In the YouTube video, Crypto Investing #39 How to Read Cryptocurrency Prices with 8 Decimal Places, Tai Zen, CEO and senior technical analyst for Cryptocurrency Market , discusses why altcoin exchanges use prices with eight decimal places. When you first look at an altcoin exchange, you will notice that bid and sell prices are typically listed in one hundred millionths of the altcoin. This is an unusual level of micro-fractioning; stock exchanges typically only uses two decimal points, with the switch to decimal from one-eighth or one-sixteenth of a dollar coming only in 2001. Why are bitcoin prices listed in such a way? The reason is that bitcoin is not the measure of record for the bitcoin blockchain. Transactions recorded to the blockchain are measured in satoshi, or 1/100,000,000 of a bitcoin. The number of bitcoin is finite; only 21 million bitcoin will ever exist. To get around this hard limit, bitcoin inventor Satoshi Nakamoto created a fractional unit to the bitcoin to make fractional trading easier, should the community choose to take that route. When a trader sells a bitcoin, he is not really selling one bitcoin; instead, he is selling 100,000,000 satoshi. A way to think about this is to think about a would-be car buyer. He is looking at buying a car that lists for $25,000. Even though he is paying for the car with 250 hundred-dollar bills, the price of the car, the worth of the car as reported on the DMV forms, and the amount received per the receipt are in dollars, as dollars are the measure of record for American fiat currency. This way of pricing bitcoin creates two different set of problems. First, not all exchanges respect satoshi notation. Some will actually list bid and sell prices as a fraction of a bitcoin, Continue reading >>

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Subscribe To Read

Subscribe to the FT to read: Financial Times Prices soar as new bitcoin futures start trading Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Choose the subscription that is right for you Purchase a Digital Trial subscription for Not sure which package to choose? Try full access for 4 weeks For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news Purchase a Standard Digital subscription for Be informed with the essential news and opinion MyFT track the topics most important to you FT Weekend full access to the weekend content Mobile & Table Apps download to read on the go Gift Article share up to 10 articles a month with family, friends and colleagues Purchase a Premium Digital subscription for All the essentials plus deeper insights and analysis In-depth analysis on trade, emerging markets, M&A, investing and more ePaper a digital replica of the newspaper Gift Article share up to 20 articles a month with family, friends and colleagues Purchase a Premium Digital + Newspaper subscription for FT Newspaper delivered daily plus unlimited digital access Continue reading >>

Bitcoin Has A Dirty, Dirty Secret

Bitcoin Has A Dirty, Dirty Secret

The cryptocurrency has wowed markets this year with breakneck gains as investors flocked to an asset that exists only in cyberspace. But the laborious creation of each digital bitcoin by private computer networks has real-world consequences in the form of massive energy useincluding from fuels that cause the most pollution. Eight 100-meter-long metal warehouses in northern China are a case in point. Bitmain Technologies runs a server farm in Erdors, Inner Mongolia, with about 25,000 computers dedicated to solving the encrypted calculations that generate each bitcoin. The entire operation runs on electricity produced with coal, as do a growing number of cryptocurrency mines popping up in China. The global industrys power use already may equal 3 million U.S. homes, topping the individual consumption of 159 countries, according to the Digiconomist Bitcoin Energy Consumption Index. As more bitcoin is created, the difficulty rate of token-generating calculations increases, as does the need for electricity. This has become a dirty thing to produce, said Christopher Chapman, a London-based analyst at Citigroup . Energy has always been part of bitcoins DNA. The person credited with creating the currency, identified only as Satoshi Nakamoto, devised the system that awards virtual coins for solving complex puzzles and uses an encrypted digital ledger to track all the work and every transaction. As the market grew from a hobbyist culture in 2009 to a global phenomenon this year, ever-more computing power was needed by large networks. Bitcoin prices have surged more than 2,000% in the past year on some exchanges and touched a record of more than $17,800 on Friday. Cboe Global Markets (cboe) began offering bitcoin futures on Dec. 11, reaching $18,850 on the first day of trading. Th Continue reading >>

How To Read Trading Charts For Beginners

How To Read Trading Charts For Beginners

By The 'Stache on Tuesday, September 12, 2017 When you first get started in the cryptocurrency world it can be very overwhelming with the amount of data and charts along with a million buzz words being thrown at you all at once. Until I got into cryptocurrency I had never done any stock trading or anything and I certainly had no idea how to read trading charts! Of course, I am still learning myself (there is a TON to learn!), but I will go over the very basics of how to read a few different types of trading charts you will encounter when you are starting out with cryptocurrency trading and even just hodling! A line chart is one of the most basic charts you will come across and it looks a lot like you may remember from high school math! These charts show the simple progression of a coin over time represented by a line. Many times you will see line charts with multiple different lines tracking different aspects like price and market share. These linear graphs give you a good general idea of what the coin has done in price over time. In the example below we look at a simple line graph from one of the most popular tracking sites CoinMarketcap.com . Here you can see in this line chart that they show you the price of Bitcoin in USD in green, Market Cap in light blue and then the 24hr volume in the grey at the bottom right corner. This is a pretty standard chart you will see. Of course the green line is the most important, as it is the price of Bitcoin, but Market Cap and volume are also very important and you can see how they correlate and follow each other. An important feature of almost any trading chart is the "zoom" feature. In the Bitcoin chart above you see we have the zoom feature at the top left and it is set to "ALL" to show the entire lifetime of tracking. If we ch Continue reading >>

Transaction Data Suggests A Crypto Recession Is Brewing

Transaction Data Suggests A Crypto Recession Is Brewing

Transaction Data Suggests a Crypto Recession Is Brewing Charts can reveal a lot about crypto assets. Past performance and future indicators can be gleaned at a glance, but theres also a lot more that can be ascertained. A study of several of the most popular blockchains, including bitcoin and ethereum, has shown transaction velocity to have reached its lowest in years. Cryptocurrency is moving at a slower rate, suggesting that a crypto recession could be on the cards. Also read: Bitcoin Usage Falls to Its Lowest in Months Until recently, the cryptocurrency markets were believed to be largely disassociated from the traditional world of finance. Movements in the latter had little effect on the former. But when the stock market slumped a few weeks ago, bitcoin also dipped. It could have just been a coincidence. Or, as the lines separating Wall Street and Crypto Alley become increasingly blurred, it could have been evidence of a newfound interdependence. Cryptocurrency certainly isnt immune from pronounced and protracted slumps, but the prospect of a crypto recession is a new one. Transaction velocity is a metric thats commonly used to measure the rate at which money changes hands or changes wallets in the case of cryptocurrency. High velocity means a unit of money is being frequently re-used to purchase goods and services. When people are spending, it means theyre not worried about what tomorrow may bring and have no fear of recession. Cryptocurrency is more than just a form of digital cash, but transaction velocity can still be applied and right now that velocity has slowed to a crawl. As news.Bitcoin.com reported last week, on-chain transaction volume has fallen to less than half its December peak. This is believed to be a consequence of high fees making BTC too expensi Continue reading >>

Bitcoin Block Explorer - Blockchain

Bitcoin Block Explorer - Blockchain

Like paper money and gold before it, bitcoin and ether allow parties to exchange value. Unlike their predecessors, they are digital and decentralized. For the first time in history, people can exchange value without intermediaries which translates to greater control of funds and lower fees. Search You may enter a block height, address, block hash, transaction hash, hash160, or ipv4 address... Continue reading >>

How To Read The Charts

How To Read The Charts

I cant seem to grasp how to read the charts and potential trajectory of a coin. Is there a video or website that can help with this type of information? I have watched this video but I think it assumes some knowledge, I think? My issue is being able to recognise these patterns. Asians have better spatial awaremeness that Europeans My trading has been limited to buying ICOs and selling when price is higher. Trading wise its been about 20% of my activities so Im looking for ways to become a Jedi Master on the exchanges I will watch the video a number of times and hopefully things will click. Technical analysis - Best info for beginners HERE! Technical Analysis Since lots of people found this older reply to a post usefull to find some information about TA, Im going to paste it here so that anyone can look at it. I also suggest to search on Google some of the basics (basic patterns, Fibonacci, how to use basic tools like MACD and RSI, Elliot Waves). The following sources are somewhat in the order you should learn this stuff, but this is not mandatory. Remember to learn gradually and to not binge whatch everything. Good article about patterns and str Its about how to recognise the patterns - Where do I start drawing indicator lines. Right now all i see on any chart is dips and highs Not able to predict by looking at charts. Not sure if Im making sense. Just a personal opinion, but Ive found the ChartGuys to provide some of the best Technical Analysis on Cryptocurrencies on YouTube. They look at Stocks and Shares as well, but have modified their TA approach for Cryptos. Note: This approach is only really for trading (more short-term), rather than investing (long-term buy-and-hold) Thanks I will watch that. Watched a bit of it. Imagine the entire graph wasnt there and see whe Continue reading >>

Understanding Bitcoin Price Charts

Understanding Bitcoin Price Charts

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Whether you already own bitcoin or plan to get some, sooner or later youll want to know how much the cryptocoins are worth when converted to your currency of choice . Later, you may want to know whether to hang onto your coins or to sell them hopefully making a little profit in the process. However, analyzing price charts and understanding trading terms from the financial world can be rather daunting, especially for the beginner. This guide serves as a useful primer of the basics. The best place to find out the latest price of bitcoin (currency symbol: BTC or XBT) is the exchange you bought them from ( Bitstamp , Bitfinex and BTC-e being the most popular exchanges at the moment), or Coindesks own Bitcoin Price Index . Knowing bitcoins current price is one thing, but pretty soon youll want to know where prices will go in the future. Forecasting price movements of anything traded at an exchange is a risky probabilities game nobody is right all the time. Many traders have lost lots of money, if not their life savings, into such attempts. The two main approaches to predicting price development are called fundamental analysis and technical analysis . While fundamental analysis examines the underlying forces of an economy, a company or a security, technical analysis attempts to forecast the direction of prices based on past market data, primarily historical prices and volumes found on price charts. To perform technical analysis on bitcoin price and volume history, youll need bitcoin price charts that display data in a more readable manner than just plain number tables. Good places to start are the charts on Coindesks Bitcoin Price Index . The most basic type of price chart displays prices as a line: Closing pr Continue reading >>

How To Read A Bitcoin Transaction

How To Read A Bitcoin Transaction

Last updated on February 23rd, 2018 at 10:04 am When you think about it, Bitcoin transactions should be simple: I send money from one Bitcoin address to another. All I need to know is the origin, destination and amount, right? It turns out that Bitcoin transactions are much more complicated than this. Were going to learn how to read a Bitcoin transaction simply, as well as understand all that gibberish that generally follows. [tweet_box design=box_02]Bitcoin addresses dont actually exist like you may think they do.[/tweet_box] The blockchain is not a ledger of all the accounts that exist and their respective balances, but rather a comprehensive history of all Bitcoin transactions. In fact, the entire blockchain is full of transactions and not much else (and a bit of data that connect theblocks). Bitcoin is a system designed to avoid having to trust account balances (maintained by third parties), and in fact allows everyone to verify and track every single fraction of a coin that ever existed to make sure no one is gaming the system. This can be done by making all transactions public and verifiable. See, Bitcoins dont actually move between addresses, they actually exist in virtual vaults with special cryptographic locks. Instead of sending them, you just change the locks. If Alice owns Bitcoins, she actually just has a cryptographic key to a vault that has BTCinside. And when Alice wants to send those Bitcoins to Bob, she just unlocks her lock and puts the Bitcoins in a vault with Bobs lock on it. Now Bob owns them. Vaults and locks are free and easy to make, so if Alice only wants to send some of the coins (and keep the rest), she can create a new vault with her lock and put the change in it. Every time someone opens a lock, the whole network needs to be able to verify Continue reading >>

Can Someone Explain To Me How Do You Read The Blockchain.info Transaction Data?

Can Someone Explain To Me How Do You Read The Blockchain.info Transaction Data?

Can someone explain to me how do you read the blockchain.info transaction data? Are those bitcoin wallet addresses on the left and right column? What is the top address representing that starts with a 7 and every other address starts with a 1? Whats the difference? Can someone explain exactly whats going on here? I see 5 addresses that are pointing to the many other addresses on the right column. On the bottom it seems like it's a total of $1453, but if you add up all those addresses it clearly doesn't equal that. I am new in this area, but it seems the transaction id at the top is a hash in hex. The addresses that specify input and output of funds are encrypted information and so include alphabet other than a,b,c,d,e,f. This should be the main diffrence between top title figure and transaction figures and not the starting digits. Bitcoin addresses on the left are valid addresses from wallet, someone has private key for them. Bitcoin addresses on the right can be any addresses, even addresses, that nobody has private keys for them (so bitcoins on them are unspendable). Bitcoin transaction can have many addresses on the left and on the right. Bitcoins are moved from left addresses to right. You opened a page with specific address. $1453 means, that this address received $1453 with this transcation. If you open a page with this transaction directrly you can see total sum. If you sum up left part and substract sum of right part, you can calculate fee. but why wouldn't the right side just be 1 address? I can understand when sending bitcoin from your wallet it can come from multiple addresses, but why would it go into many different ones? it should just be just the one your sending to. Patoshi Jan 23 '14 at 17:21 You're wrong that nobody has the private keys for the right-h Continue reading >>

Block Parsers: How To Read The Bitcoin Block Chain

Block Parsers: How To Read The Bitcoin Block Chain

Block Parsers: How to Read the Bitcoin Block Chain Join our community of 10 000 traders on Hacked.com for just $39 per month. A Block Parser reads the Bitcoin block chain. There is no encryption of the data stored in the block chain. Bitcoin is a pseudonymous system. Meaning, ECDSA key pairs are used to abstract the identity of users. However, the binary data in the block chain can be read. The block chain is a transaction database. Every full node participating in the Bitcoin network has the same copy. The Bitcoin protocol dictates its structure and is the means through which each node maintains a duplicate copy. Overall, the block chain is just a data structure for storing blocks . The block chain stores blocks in a series, beginning with the genesis block . Also read, What is Bitcoin? Is Googles 4th Most Searched What is? Term of 2014 This example is a minimal approach. In all, 138 lines of Python code are used to build this block parser. In some places, encoding and endianness are unfamiliar or backwards. Despite these minor formatting issues, below is a beginner approach to a Bitcoin block parser. The project began with building the tools required to parse the binary data. The protocol dictates the tools that will be necessary. import structdef uint1(stream):return ord(stream.read(1))def uint2(stream):return struct.unpack('H', stream.read(2))[0]def uint4(stream):return struct.unpack('I', stream.read(4))[0]def uint8(stream):return struct.unpack('Q', stream.read(8))[0]def hash32(stream):return stream.read(32)[::-1]def time(stream):time = uint4(stream)return timedef varint(stream):size = uint1(stream)if size < 0xfd:return sizeif size == 0xfd:return uint2(stream)if size == 0xfe:return uint4(stream)if size == 0xff:return uint8(stream)return -1def hashStr(bytebuffer):re Continue reading >>

Analyzing Cryptocurrency Markets Using Python

Analyzing Cryptocurrency Markets Using Python

Analyzing Cryptocurrency Markets Using Python A Data-Driven Approach To Cryptocurrency Speculation How do Bitcoin markets behave? What are the causes of the sudden spikes and dips in cryptocurrency values? Are the markets for different altcoins inseparably linked or largely independent? How can we predict what will happen next? Articles on cryptocurrencies, such as Bitcoin and Ethereum, are rife with speculation these days, with hundreds of self-proclaimed experts advocating for the trends that they expect to emerge. What is lacking from many of these analyses is a strong foundation of data and statistics to backup the claims. The goal of this article is to provide an easy introduction to cryptocurrency analysis using Python. We will walk through a simple Python script to retrieve, analyze, and visualize data on different cryptocurrencies. In the process, we will uncover an interesting trend in how these volatile markets behave, and how they are evolving. This is not a post explaining what cryptocurrencies are (if you want one, I would recommend this great overview ), nor is it an opinion piece on which specific currencies will rise and which will fall. Instead, all that we are concerned about in this tutorial is procuring the raw data and uncovering the stories hidden in the numbers. The tutorial is intended to be accessible for enthusiasts, engineers, and data scientists at all skill levels. The only skills that you will need are a basic understanding of Python and enough knowledge of the command line to setup a project. A completed version of the notebook with all of the results is available here . The easiest way to install the dependencies for this project from scratch is to use Anaconda, a prepackaged Python data science ecosystem and dependency manager. To setup Continue reading >>

How Does Bitcoin Work?

How Does Bitcoin Work?

This is a question that often causes confusion. Here's a quick explanation! As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography . A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining . Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions Continue reading >>

Bitcoin And Crypto Technical Analysis For Beginners

Bitcoin And Crypto Technical Analysis For Beginners

Bitcoin and Crypto Technical Analysis For beginners Home Crypto Investor's Guides Bitcoin and Crypto Technical Analysis For beginners Bitcoin and Crypto Technical Analysis For beginners Crypto traders have several tools to assess the cryptocurrency market. One of them is an approach known as Technical Analysis. Using this method, traders can get a better understanding of the market sentiment and isolate significant trends in the market. This data can be used to make more educated predictions and wiser trades. Tech analysis considers the history of a coin with price charts and trading volumes, no matter what the coin or project does. As opposed to technical analysis, fundamental analysis is more focused on establishing if a coin is over or under valued. To get a better idea of technical analysis, it is crucial to understand the fundamental ideas of Dow Theory that tech analysis is based on: The market considers everything in its pricing. All existing, prior, and upcoming details have already been integrated into current asset prices. With regards to Bitcoin and crypto, this would be comprised of multiple variables like current, past, and future demand, and any regulations that impact the crypto market. The existing price is a response to all the current details, which includes the expectations and knowledge of each coin traded in the market. Technicians interpret what the price is suggesting about market sentiment to make calculated wise predictions about future pricing. Prices movement arent random. Rather, they often follow trends, which may either be long or short-term. After a trend is formed by a coin, its probably going to follow that trend to oppose it. Technicians try to isolate and profit from trends using technical analysis. What is more important than Why. Te Continue reading >>

How To Read Bitcoin Blockchain Data On Blockexplorer?

How To Read Bitcoin Blockchain Data On Blockexplorer?

How to Read Bitcoin Blockchain Data on Blockexplorer? In a previous post , we explained how public Bitcoins transactions are, and how easy they are to track. In this post, well take a look at how to track them, and how to interpret the information the web interface provides us with. There are many websites for exploring the Bitcoin blockchain , but Blockexplorer is probably the most popular one. to check transactions, you enter a transaction hash like this one: 57309a5cf004fd4746ab508deb0093a5181fb93ead1fbf0b0ebf375b2e817fb6. the public key of an address to find out this address status and balance, as well as see transactions that have the address as an entry or exit point. the number of a block you want to explore to find out when it was mined , what data it confirmed, and so on. As an example, lets take a look at the aforementioned transaction. Copy the following into the field and confirm: 57309a5cf004fd4746ab508deb0093a5181fb93ead1fbf0b0ebf375b2e817fb6 This is the identification hash of the transaction. Once you confirm, Blockexplorer will return all information related to it. The upper section of the screen will contain basic transaction information. how big the transaction was, in bytes. This one was 3873. If we consider the fact that Bitcoins blocks are currently capped at 1MB, that means a single block can contain about 258 such transactions. If we know that a new block is mined approximately every 10 minutes, we can conclude that the Bitcoin protocol has a 2-3 transactions per second capacity. Far from the several thousand per second Visa currently executes. Fee rate is the fee that was paid by the user generating the transaction in order to broadcast it to the BTC network and have it confirmed. The fee is given to the miner who mined the block. At 0.001305959 Continue reading >>

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