The Bitcoin Fad Is Over

Bitcoin's creator, Satoshi Nakamoto, pioneered Bitcoin as a way to get rid of the middleman (financial institutions) in order to cut out transaction costs, and make smaller transactions cheaper. Unfortunately, Bitcoin has totally failed to serve its purpose in this regard. The cryptocurrency is considered …
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Alt-coin bear market is over, but bitcoin is still the best bet: Wall Street's Tom Lee

Bitcoin bull Tom Lee says the alt-coin bear market is over. But he still recommends investing in bitcoin. "Whether regulations change around security tokens and registration, bitcoin sits in its own sphere," he says. Lee said he expects the lesser-known, smaller coins will remain in "purgatory" and not …
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Over three million bitcoin addresses consolidated

In January there were 14,000,000 addresses containing 0.001 BTC or less. Now there are around 10,500,000.

Low fees have prompted a huge amount of defragging, much of it at 1 sat/byte: this one for example consolidating tiny 824 satoshi dust particles.

The UTXO has consolidated from 67.5 million to 55 million. At a rough guess, for the last several weeks about a quarter of daily volume (by MB) has been this ‘backlog’ of defragging (backlog from when high fees made it too expensive). Consolidating 12.5 million bits of dust at 148 bytes per input fills getting on for 2,000 blocks – almost 2 weeks’ worth of traffic.

When the defrag backlog is done, and now we have segwit and batching, transacting at 1 sat/byte knowing you’ll get into the next few blocks could become the norm again.

submitted by /u/factualisimus
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