🧵 BIG NEWS! We can now infer the daily price of Bitcoin within 1% accuracy by looking only at the unspent transaction output (UTXO) set. This paves the way for trust-minimized, decentralized finance on Bitcoin. Here's how... #UTXOracle
New Oracle Live Launched! 🚀
- Every bitcoin transaction
- Every second
- Full blockchain history
- Live mempool entries
- Huge TXs identified
- Round USDs identified
And as always - the one true price from 100% on-chain data
Live at UTXOracle on YT and https://t.co/vCHGOVmAI5
👇 Why does the blockchain need to exist?
It's because everyone's mempool isn't the same.
Block confirmations sync all the updates to where my newest block now exactly matches everyone else's
For a long time I didn’t know much about mempools. When you start building things you face this conundrum and learn quite a bit.
For those finding this post here is the why:
Each Bitcoin node maintains its own mempool in its local RAM (memory). Therefore mempools aren’t perfectly identical across the network - they’re not stored in some centralized location or on the blockchain itself.
Free API now available for the latest UTXOracle price from my mempool
https://t.co/BOb2TTGFFg
1 min updates. Price averages the last 5 min of new mempool entries
After TXs confirm, prices can be verified by your node using the open source code at https://t.co/vCHGOVmAI5
UTXOracle Version 9 Released!
Get the bitcoin price directly from your node. 100% on chain data. No APIs, No Exchanges, No paper trading. Open source, decentralized.
New in v9 - Interactive intraday charts, confirmed consensus price, up to the latest block price.
Links in comments
Let's go🔥
As a reminder, UTXOracle does not reference any exchange price. It just looks at bitcoin transactions to infer what the price is.
See how well it works 👇
cc @SteveSimple
https://t.co/BNodsQqCsG
If we listen closely
Bitcoin tells us its own price
UTXOracle is LIVE!
100% on-chain data
Real-time mempool entries
No banks
No exchanges
No paper trading
No API calls
Open source
Decentralized
The only objective price
Stream link in bio and comments 👇
Let the signal speak
UTXOracle is back!
UTXOracle gets the price of bitcoin directly from your node
100% decentralized open source
The new version released today works up to $500k, filters out non-financial transactions, and is perfect every day since January 2021
https://t.co/25BmxkSpJz
🧵👇
@bradmillscan@lava_xyz What blind oracles? Are they open-source? Why not use @UTXOracle, which is totally on-chain price oracle. Anyone will get nearly the same price from their own nodes.
My continued deep dive into the Bitcoin lending scene brings me to @lava_xyz, a company which I’m actually a seed investor in.
Lava uses DLCs and a non-centralized set of “blind oracles” to minimize counterparty risk & risk of Oracle collusion.
Launching soon in earnest, Lava provides a way to borrow against your bitcoin without rehypothecation risk.
Rates are yet to be determined but they seem reasonable.
I’m getting close to pulling the trigger with Lava for my borrowing needs…although I’m still thinking through the risks.
https://t.co/r0lflnTvTo
@Loic_Pandul@UTXOracle uses a stencil to find round USD output amounts without the need for a trusted oracle.
It might be worth taking a look at it for 'easier' testing of this heuristic.