PoW Bitcoin – 7/29/2017

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BTC Market Update as of 7/29/2017
Bitstamp $2674
Okcoin 3M futures $2558
Futures Spread -$120
Localbitcoins vol (24h) $5 mil
Network vol (24h) $1.3 B
Avg Tx Value $5373
Mempool 0.2MB
Difficulty est. 11% in 11 days
BTC val density $351k/MB
Gold $1268
DXY 93.2
SPX500 2472

Sources: PricesLocalBitcoinsBlockchain VolumeDifficulty, Mempool, Gold, DXYSPX500


BTC-e Gone For Good?

BTC-e is down. It’s not coming back. This was one of the oldest exchanges in bitcoin. I liked the anonymous no KYC aspect and was a big supporter of them. It turns out that 95% of ransomware and other hacks were going through btc-e. I don’t think they’ll come back.

Bitpay No Comprendo

Bitpay released a blog post where they talked about how consensus rules are created by miners. It’s no surprise they don’t get it. They are owned by Bitmain, they are slaves to miners. I recommend everyone boycott Bitpay.

Whale Panda on Zerohedge

There was quite a big post on ZH that used Whale Panda’s tweets about the bitcoin cash thing. His theory is Roger and Jihan will buy all the BCC coins cheap and then when 2x inevitably fails they’ll socially engineer a pump of BCC. One that’s very expensive to set up. Two, there’s no guarantees it’ll work. Three, very very few people know about BCC in the first place, and one a few traders that know what they are doing will dump BCC. I think there’ll be very little volume, very few bids.

 


Music by Joakim Karud

Ansel Lindner Written by:

Ansel is a bitcoin specialist, economist, and podcast host.