PoW Bitcoin – 8/3/2017

Sponsored by: YOU on Patreon

Direct contribution (bitcoin only): 17ojFGrjczRtoAznoa1K4PZGvUSQ695hQX

Subscribe: SoundcloudiTunes, Stitcher

Follow: Host Twitter, Show Twitter

If you like the show, Please Share, comment on soundcloud, or review on your podcast app!

BTC Market Update as of 8/2/2017
Bitstamp $2740
Okcoin 3M futures $2700
Futures Spread -$40
Localbitcoins vol (24h) $5.1 mil
Network vol (24h) $1.4 B
Avg Tx Value $6749
Mempool 3.5MB
Difficulty est. 6.7% in 7 days
BTC val density $356k/MB
Gold $1264
DXY 92.8
SPX500 2477

Sources: PricesLocalBitcoinsBlockchain VolumeDifficulty, Mempool, Gold, DXYSPX500

My initial reaction to bcash fork was thank God we are rid of the megablockers. Bitcoin is free.

Tax implications

Until there’s a better way to sell, like bitsquare or localbitcoins, I won’t.

Bitch coin was a non-event in my mind. The biggest thing it did was invalidate a lot of Technical Analysis.

Overall, bcash is a centralized coin. 10s of nodes on AWS, only a few miners.Bitcoin gets it’s value from decentralization and censorship resistance. That’s what makes it a good store of value and form of money.

Coinmarketcap.com’s traffic exceeded FT

Great point by Peter Todd, miners aren’t in charge in bcash either, so slow blocks won’t be the cause of failure.

Poloniex went down and people were getting worried. They’ve come back from what I can tell. No big altcoin massacre happened, which is surprising. Everyone was looking at bitcoin and bcash.

Music by Joakim Karud

Ansel Lindner Written by:

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

  • Tuan Nguyen

    Hi Ansel, found you on Bitcoinmeister and thought the panel was informative and awesome. Keep up the good work.

    • Ansel Lindner

      Thanks for the support Tuan. Welcome to Bitcoin and Markets.