Bitcoin (BTC) holds a record for extreme growth this year, and the number of unspent transaction expenses (UTXO). For this growth there are several possible explanations.
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Coin-Mixer cause the growth?
Each Bitcoin transaction has the Potential to generate UTXO and “Change”, which is then redistributed to a change in address. Jameson Lopp has shown that UTXO transactions occur today more frequently, with a clear growth trend in 2019.
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What is the UTXO-view values, is something, what is log Miner. An alternative explanation could be the use of mixers. The Mix of Coins is divided in several small transactions and then combine.
But the most optimistic explanation is that small amounts of Bitcoins are now being used more and more frequently, while increasing simultaneously in value. Therefore, the small amount of issued Coins seems to be growing, which move through the Ecosystem and also the need to rise money.
We saw yet again in 2019 that the value of UTXOs consumed (spent) appears to be uncorrelated with bitcoin’s exchange rate. Spending velocity averaged 16 BTC per second, barely more than 2018’s 13 BTC per second. https://t.co/oQDgcJz4GO pic.twitter.com/60IyxKUUmK— Jameson Lopp (@lopp) December 30, 2019
At the current prices of BTC-consumption, however, is close to that of 2018, what makes the UTXO growth to a mystery more anomaly. In addition, most of the big Wallets hodln your Coins, and the current transaction increase comes from the Coins, which are intended for Trading and the active use.
Bitcoin transactions have grown over the years, almost continuously, as well as the number of generated Wallets. However, there was in 2019, in the case of Bitcoin a surge in both the small Wallets as well as the “whale”Wallets of 1,000 BTC, and more. Also the Coin’s movements have responded to almost immediately to market conditions and increased as a result of short-term rallies.
Bitcoin indicators 2019
Bitcoin Maximalist Jameson Lopp has followed indicators, the bitcoin development 2019 show. One of the factors the Mining that has grown to a competitive industrial activity. What concerns the network security, the Bitcoin Protocol in November 2019, reaching its highest attack resistance, wherein, the indicator has deteriorated in the past month.
The amount of time it would take for an attacker with 100% of the current hashrate to rewrite the entire bitcoin blockchain dropped by 100 days due to the accelerating hashrate in 2019 but has recovered half of that recently. https://t.co/fm3inll7uV pic.twitter.com/loyMHhAPq2— Jameson Lopp (@lopp) December 31, 2019
A Miner hypothetically has enough Hash Rate for the current network, would take a deep Regorg over the entire Blockchain months. The scenario may not be feasible, but it shows bitcoin capabilities.
However, the Mining in the year 2019 has achieved impressive growth and has risen by 162%.
Bitcoin’s network hashrate increased by 162% during 2019, from 38 to 100 exahash per second. https://t.co/fm3inll7uV pic.twitter.com/WiloJcJsk8— Jameson Lopp (@lopp) December 31, 2019
Whatever the statistics may look – Bitcoin an asset, discovered after as before its price range and its application cases remains. The Bitcoin network has experienced numerous anomalies, the millions of little transactions, for verification and generating of intentional Spam to secondary projects.
Also new players pushing always in the Bitcoin space, whether Start-ups or crypto-based financial services provider. In addition, through the Trading new whales are born.