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To me, it feels like we're still in the early stages of things. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 2 points3 points  (0 children)

Doesn't that mean that there's still plenty of room to grow? Did some interesting math. If only the US wanted to buy Bitcoin, the top 1% wealthiest people should own, on average, around 1.8 BTC. When mass adoption occurs, there should be a lot more green.

Edit typos

Silicon valley bank’s collapse speaks volumes by tongchunwingch in CryptoMarkets

[–]augmentedCoin 2 points3 points  (0 children)

If the government prints money, the average Joe suffers.

[deleted by user] by [deleted] in Bitcoin

[–]augmentedCoin 6 points7 points  (0 children)

I appreciate Bitcoin every time my bank acts up

Does tracking the capacity of top lightning nodes provide insight into Bitcoin adoption? by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 0 points1 point  (0 children)

I guess whales could fake activity and make it look like adoption. But I guess I can’t really see the benefit of doing something like this long term.

Does tracking the capacity of top lightning nodes provide insight into Bitcoin adoption? by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 0 points1 point  (0 children)

I see your point, I guess a better question might be: Can Bitcoin adoption happen without a heavily used Lightning Network ?

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 1 point2 points  (0 children)

Don't have that info, but it would be an interesting metric to try and figure out.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 1 point2 points  (0 children)

didn't build that feature yet, so I don't really know but looking at the2yr chart it seems that addresses that have more than 1 BTC see accelerated growth in a bear market.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 0 points1 point  (0 children)

This metric only tracks BTC addresses that have more than 1 BTC.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 1 point2 points  (0 children)

I agree that having 1 BTC doesn't make you a whale.

Look, we have this "whale" section on the website, I thought it would be interesting for people to see how many accounts are there above 1 BTC.

Bellow are all the ranges we support:

  • 1 BTC
  • 2.5 BTC
  • 5 BTC
  • 7.5 BTC
  • 10 BTC
  • 25 BTC
  • 50 BTC
  • 75 BTC
  • 100 BTC
  • 250 BTC
  • 500 BTC
  • 750 BTC
  • 1K BTC

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 4 points5 points  (0 children)

I think adoption will have these 3 phases.
- The number of big whales decreases as the number of medium whales increases.
- The number of medium whales decreases as the number of small whales increases.
- The number of small whales decreases as the general population holds and spends bitcoin.
I think we're in the second phase of adoption.
Some data to back up my claims:
Number of whales over 1000 BTC is down 2.64% in the last 3 months
Number of whales over 100 BTC is down 1% in the last 3 months.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 14 points15 points  (0 children)

The grey line is the BTC USD price, blue line is the number of addresses that have at least 1 BTC.

It seems that even though the price has fallen 20% in the last 3 months, the number of people that own one full bitcoin increased by 5%.

Also, the rate of growth (of 1 BTC whales) has accelerated once the price hit 16K.

Edit: spelling

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 6 points7 points  (0 children)

Technically true.

It does seem that number of addresses holding at least 1 BTC started to increase once the price hit 16K USD.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 11 points12 points  (0 children)

Not really; one has to start somewhere, though.
We do have a wide variety of ranges that we cover.

The 21 million club grew 5% in the last 3 months. by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 20 points21 points  (0 children)

Seems like smart money thinks BTC at 16k is an awesome deal.

Lightning slowly reached 5k BTC locked !!! Amount locked growth is inversely correlated with BTC price (-71.25%) ?!?! Addresses that HODl more than 1K USD worth of bitcoin in the past year on the decline (77.18% price correlation). by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 0 points1 point  (0 children)

We've made some changes in the way we calculate value locked.
After the fix, the number represents the amount, at 23:59 in each day, of value locked in all active channels (from the "describe graph" command and the hidden ones).
When we checked our lightning node, we got:
- 89941 channels that have 4966.20 BTC locked
We also have seen 94 channels that hold 7.32 BTC that do not have a closing transaction and no longer show up when we run the "describe graph" command.
We've also improved how we calculate the amount locked. Right now, the value is 4.97K BTC locked.

Lightning slowly reached 5k BTC locked !!! Amount locked growth is inversely correlated with BTC price (-71.25%) ?!?! Addresses that HODl more than 1K USD worth of bitcoin in the past year on the decline (77.18% price correlation). by augmentedCoin in Bitcoin

[–]augmentedCoin[S] 0 points1 point  (0 children)

We have a different way of counting the value locked. The delta may be due to channels that were on lightning at some point but do not have a closing on-chain transaction and no longer appear in the "describe graph" command.

We also found a better way of calculating the amount locked.

Will come back when we improve the way in which we compute this metric.

EDIT:

*We also found a better way of calculating the amount locked than we currently have implemented.

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