Bitcoin developments (April 2019)
April 4, 2019
Developments around Bitcoin (November 2020)
November 12, 2020
New Milestone: Cryptotrader.online has made more 90.000 trades.
The Cryptotrader.online service was started in 2017-02-01 and is still growing. Recently Cryptotrader.online reached a new milestone of 90.000 trades. To get good insight in the real performance of the trader we automatically calculate the monthly yield for each user. Based on these numbers we can calculate the site average monthly yield which is now around 2%. This means that the extrapolated compound yearly yield is 26%. Soon we will add new functionality to each user account where each user can see his own personal monthly yield.
Possible Segwit Transaction Vulnerability fixed in latest Trezor Firmware.
SatoshiLabs was notified of a potential security vulnerability in Segwit transactions which affects the Trezor hardware wallet. According SatoshiLabs this issue is a result of design choices in the Bitcoin protocol and is not a vulnerability specific to Trezor.
According SatoshiLabs this is a corner case, it is highly unlikely that you will encounter this problem. Segwit transactions are not affected if they are already on the blockchain and there is a rare possibility of this issue even if you are signing a new transaction while you have malware on your computer.
Even though this is a very improbable scenario and it will eventually be resolved by the Bitcoin community, The new firmware updates for Trezor One (version 1.9.1) and Trezor Model T (version 2.3.1) change how Segwit transactions are handled and correct this.
Source: Latest Firmware Updates Correct Possible Segwit Transaction Vulnerability
Plan B
More than a year ago an anonymous Quant made a model of the Bitcoin price based on the Stock-to-Flow model. The model has a 95% confidence interval R2. This means that the model has a very good match with historical prices and may be used to predict future prices. The model predicts a 10 fold increase in price after each bitcoin halving with a delay around 1.5 years. Based on the model the most recent prediction is a Bitcoin price of $288.000 before the end of 2024.
Plan B has written the following blogposts on the subject:
He also became quickly quite popular in the Bitcoin community and was invited in many Podcasts
- BITCOIN ALS HET NIEUWE GOUD, HOE STERK IS HET MODEL VAN PLANB? (NL)
- TIP260: BITCOIN MATH & VALUE – W/ PLAN B (ENG)
- Bitcoin Show: PlanB (NL)
Bitcoin Lightning Network still growing
Lightning Network is still under development. With the Lightning Network it is possible to make (small) Bitcoin payments very quickly. The Lightning Network is still growing compared to our last check in April 2019. According to the 1ML Lightning Statistics website the number of nodes is now 13,135 (up 68%) and the network capacity expressed in USD is $9 million (up 69%) since April 2019. However, the number of channels has gone a little bit down to 36,401 (down 7%).
Bitcoin Core 0.20.0 Released: What’s New
On June 3 2020 marks the official release of Bitcoin Core 0.20.0, the 20th major release of Bitcoin’s original software client launched by Satoshi Nakamoto over 11 years ago. The Bitcoin client software is open-source and available on Github and there you can also find the changelog with all the changes. However, this changelog is quite complex for non-developers to read so we are lucky that Aaron van Wirdum took the effort to create an executive summary of the most important changes:
* Further Hardware Wallet Integration in GUI
* Asmap for More Reliable Network Connectivity
* Removal of BIP61 Reject Messages
* Removal of the BIP70 Payment Protocol (and OpenSSL)
* Dumptxoutset As a First Step Toward Assumeutxo for Fast Bootstrapping
You can read more about it in this blogpost:
Bitcoin Core 0.20.0 Released: What’s New
