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Bitcoin: Time Compression, Causation And Feedback Loops – Bitcoin USD (Cryptocurrency:BT…

20 Dec Bitcoin: Time Compression, Causation And Feedback Loops – Bitcoin USD (Cryptocurrency:BT…

Posted at 03:51h in Cryptocurrency News by

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Time Compression

I have presented my case for the point of view that Bitcoin (BTC-USD)(COIN)(OTCQX:GBTC) is a log scale phenomenon many times. However, if this happens to be your first time reading one of my articles, or any article on Bitcoin for that matter, consider the charts below.

linear hash powerSource: Blockchain.com and author’s charts

Here’s the hash power of the Bitcoin network in linear scale. Not very meaningful, is it? But when we flip the Y-axis to log scale…

hash pow logSource: Blockchain.com and author’s charts

That’s better, isn’t it? Look at all the information that we just couldn’t see before, like what happened in 2011 and 2014. For the sake of my regular readers, we’ll move on from this topic which I feel like I may have beat to death.

However, further examination has shown that there may still be some life left in this log-scale horse. So, today we’re going to talk about an interesting stat that we can pull from the Bitcoin network, total transactions.

What are total transactions?

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