Once again, it’s the weekend so time to get to know more about Bitcoin, one under the other to continue. In this update, we look at the price, and the Lightning Network, the onchain data from the network.
Contents
1. Bitcoin price update
At the time of this writing, the price of a single Bitcoin to be $8.218. That is, it is about one and one-half per cent, higher than the day before. Compared to the previous weekend, BTC, more than 18% in the red. That is, of course, has everything to do with the dump in a couple of days ago.
The dominance of the largest currency and it was exactly 67%, and the BTC is at about 59% of the all-time high.
2. Mark Yusko on Bitcoin
Further, with Mark Yusko. The American investor and hedge fund manager, who spoke on CNBC about bitcoin. The reader has noted that the BTC is in the direction of the $8,000 down. Yusko responded to this very well: “Buy it!”.
He goes on to say: “The price of Bitcoin doesn’t matter. All of it will go to $5,000. It has been around for 10 years, and every year (with the exception of 2017) made a higher low and the market capitalization is growing every year.”
But that’s not the only reason, according to Yusko to get the BTC to buy it:
To each basic indicator, such as the number of wallets, blockgrootte transactions, and the hashrate to reach a new record. It shows that the value of the network as it grows.
The price of the asset will fluctuate. He compares it to Amazon, which is really not good, ” verkoopmoment has had, but also a significant decline in the price have to go through.
What about #Bitcoin? Buy it… every fundamental indicator of #Bitcoin… we are making new highs.” @MarkYusko pic.twitter.com/zcJUxZFAPd
— Bitcoin (@Bitcoin) On September 27, 2019 At The Latest
3. Bitcoin taxation in Russia
The Block in the Computer will report that the miners ‘ of bitcoin and other cryptocurrencies in Russia will soon have tax to pay. That is, if the request is approved.
The petition has been filed by the Association of Banks of Russia. Anyone who produces, creates, or should property taxes pay for it. Starting soon, you can Bitcoin is that this is just covered by it.
They think that crypto-mining is equivalent to the finding of funds: Operations with virtual currencies should be taxed on the profit as the exchange transactions are in the Tax Code.”
The request for a debate has been scheduled for the 8th of October.
4. Lightning Network
Last Friday, published a developer’s Guide His various issues, which the Lightning Network (LINK) in recent months has slowed.
According to the post, there was a flaw in the process by which channels on the LINK to open it and ‘upgraded’ were the same. As a person, as a channel is created, it has been necessary for the receiver of the channel, and the amount of bitcoin is the output of the transaction is not a necessity to check and verify it.
Because of this, they could ‘claim a channel is to be opened an amount to be paid’. It is possible that there is a (wrong) amount to send out, without the creation of the channel and are aware of all these things.
A lightning node for accepting a channel, must check that the funding transaction output does, indeed, open the channel to date. Otherwise, an attacker can claim to be to open a channel, but either not pay, to the peer, or to not pay the full amount. Once that transaction reaches the minimum depth, it can spend funds from the channel. The victim will only notice when it tries to ‘close’ the channel, and none of the commitment or mutual close transactions it has are valid.
Rusty Russell
If this is a victim, not a channel to shut, it was only clear that there were improper transactions between the two parties.
The problem is now gone.
5. A stable holder
Finally, let’s return to the bitcoin dump of the past few weeks. Glassnode analyze the onchain the data of the bitcoin network, and it is noted that the decline in the price of $2,000, the real stakeholders, little has been done.
The average amount of BTC is sent, it is not going to be too high. The ” Coin Days Destroyed’ indicator is not extreme, changes. There is no reason to keep her coins to an exchange to another.
It would appear, therefore, that there are a lot of people with Mark Yusko agree on: all of the fundamental indicators tell us that things are going very well with Bitcoin!
According to #onchain metrics, #Bitcoin’s recent drop to $8k doesn’t seem to have been caused by long-term holders.
The average age of created coins is between 20 to 30 days, & CDD hasn’t deviated significantly.
This was likely due to the short-term $to BTC holders.https://, etc.co./GyiQGuZUJY pic.twitter.com/cjix8bOiBM
— glassnode (@glassnode September 27, 2019 at the latest
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