UTXOracle is a simple Python script [Attention: direct download link] that takes advantage of a surprising fact about the Bitcoin blockchain – by parsing on-chain data it’s possible to derive an approximate U.S. dollar price.
A graph of UTXO creation over time. Source: utxo.live
All of this is based on the chart above. The lines on the graph represent Bitcoin UTXOs of certain values.
If you look at the left-hand side at the BTC denominations, you’ll see that straight lines match up perfectly. Those represent the creation of UTXOs in exact round BTC denominations. The wavy lines are UTXOs being created with round fiat denominations.
All this is to say that a large percentage of Bitcoin transactions (~15%) create outputs with round denominations in fiat currencies, an obscure data quirk that allows software to make derivative assumptions about the economic activity they represent.
By finding the points where these wavy and straight lines intersect, one can ascertain a point
We współpracy z: https://bitcoinmagazine.com/technical/a-new-trustless-way-to-calculate-the-bitcoin-price-
