The elasticity of Bitcoin's one-time supply is zero. No matter how high the price rises, the total supply of Bitcoin cannot exceed 21 Bitcoin emojimillion, and the speed of supply will not change much, halving every four years. Bitcoin mining rewards halving will cause the entire supply curve to shift to the left. Assuming that the overall demand curve remains unchanged, and other factors that affect the price of the currency are not considered, the Bitcoin reward halving will indeed cause the price to rise.
On July 25, the CFTC announced the latest CME Bitcoin Futures Weekly Report (July 15-July 21). The BTC price fluctuations in the latest statistical period are still very limited. The market stagnation in the previous statistical period has not It has not been effectively resolved. From the perspective of price alone, the market has not obtained any effective long-short direction in the statistical period. The choice of various accounts under the situation of sideways for two consecutive weeks can basically reflect the corresponding population. Long-short preference.
EOS's 3-day line has already fallen below and it has made a counter-twitch action. At this time, it is necessary to observe whether a new low is reached. Once this new low is hit, it means that the counter-trick is confirmed to be valid and the break is solid. Then the entire EOS has been long since its listing. The market has turned into a big level of shock! The time for new highs is greatly lengthened, and the probability is also greatly reduced!
On August 2, 2016, a developer under the pseudonym TomElvisJedusor (Voldemort of Harry Botry) published a text file on the Bitcoin Development Forum outlining the early version of the MimbleWimble protocol. Its purpose is to implement this blockchain design into Bitcoin through a soft fork, so as to solve the problem of Bitcoin expansion and add privacy transaction functions to Bitcoin. However, this proposal has not been Used by Bitcoin.
Bitcoin and blockchain technology are emerging at the same time. Satoshi Nakamoto's goal is to turn Bitcoin into a digital cash, and the underlying technology that supports the generation and operation of this digital cash is the blockchain. But with the gradual development in the later period, great changes have taken place between the two. Today Bitcoin is still the original Bitcoin, but the blockchain technology has undergone continuous innovation and evolution, and it is no longer just the original blockchain. The development of the blockchain has not only developed Ethereum that supports smart contracts and various different forms of blockchain since then, but also evolved more digital financial products and even new business models. All these developments have had a huge impact on the development of Bitcoin. Judging from the development so far, the development of blockchain technology is accelerating to lead to the end of Bitcoin.
At that time, Laszlo, who disliked CPU mining but was not addicted, took the lead in GPU mining, using nvidia9800GTX+ graphics card to mine under the MacOS environment; the original single-day Bitcoin mining output was increased to thousands of coins/day. . With such a high single-day return, it is no wonder that Laszlo was able to exchange 10,000 BTC Bitcoin emojifor pizza shortly after Bitcoin was born. But it seems that it was because Satoshi Nakamoto expressed dissatisfaction with this, Laszlo did not announce the use of GPU mining during this period. He (Satoshi Nakamoto) said,'I don't think you should spend too much time on mining.' Laszlo said in an interview that Satoshi Nakamoto is more interested in growing the community and developing commercial use cases, and he is not happy to watch Until he has such an ardent pursuit of mining.
The correlation between Bitcoin and stocks has decreased, and the correlation with gold has increased. We believe that when the Standard & Poor's 500 Index drops rapidly, people will begin to pay attention to other risky assets. At this time, the Bitcoin price foundation will be further consolidated, and the correlation between Bitcoin and gold will also increase. Our chart depicts the 52-week correlation between Bitcoin and gold. You will find that the current correlation between Bitcoin and gold has reached the highest level since 2010. The correlation between Bitcoin and gold is twice that of Bitcoin and stocks. In the past, Bitcoin was a means of speculative appreciation, but now it has transformed into a value storage mechanism similar to gold, and its maturity is being further improved.