In the past month I have been writing a daily post titled "The Post-Futures State of Bitcoin." My original intent was to track the progress of outside forces as they moved in on Bitcoin and cryptocurrencies in general, but it seems that even Wall Street are not seasoned enough to handle the uncertainty of Cryptocurrency, and there is much infighting and wrestling over the rules and regulations of how to rule and regulate the regulators who make regulations on the derivatives markets of Cryptos.
Fair enough. Wall Street's last scheme with Subprime Mortgage derivatives sent the markets diving. Many at Wall Street don't want to have a repeat in the near future (or at least those who don't want to nuke the US Dollar while China and Russia position themselves to take over the petro industry).
But it has occurred to me that while BTC might not always be the dominant crypto, or at least the only dominant crypto in the long run, there are certain statistics that should be paid attention to. This in turn might correlate with the price action in the markets. In fact, I'm certain there will be some cause and effect taking place.
Statistics like:
- number of transactions in the queue
- size of the queue
- amount of BTC fees in the queue
- percentage of BTC transactions that are using segwit (still barely above 10% right now)
- transactions per second
- Top Exchanges by volume
- highs and lows
- etc.
I also want to make each of these into their own charts going forward (probably using google sheets), and have weekly, monthly, and yearly charts if I do this long enough.
With enough data, there should be some information I, or someone else can extract from the charts.
While this will create more work for me, I love seeing patterns in data (nerd alert) and using that information to my advantage; not to use against other people or to exploit, but simply to keep ahead of the curve and not be caught in uncertainty.
So, keep an eye out for my new daily post on Bitcoin, starting tonight. It will contain charts/graphs and historical information, and any news that seems relevant.
While I thought tracking the future's market for bitcoin was going to be enjoyable, it has been mostly a borefest (translation: it put's me to sleep), with the odd exception when old rich white men shake their canes at Bitcoin; that's amusing at least.
Once wall street agrees on how they're going to decide to agree on making future decisions for deciding on futures agreements, maybe things will become more interesting to report on and keep track of.