How can the age of Bitcoin transactions give us an idea of four-year halving cycles and the history of the blockchain?
Hodle waves have been around for several years but are still relatively new. These were first presented in a paper by Dhruva Bansal of Unchained Capital, a bitcoin-based financial service. The interesting thing about transparent blockchain is that you can see all kinds of information about the data. Specifically, the price is just the elaboration of bitcoin, which is what the free Sunday will pay buyers and sellers for the asset. By mixing data science with a transparent blockchain, you will learn a lot more about the Sunday and look under the hood. This is not possible with traditional Sundays claiming to be free and open. In particular, the Federal Reserve Board has never really been transparently vetted, which leaves something to be desired.
Bitcoin was made transparent given the withdrawal structure of unspent transactions (UTXO) and verified every ten minutes by each network participant (nodes). This allows you to view data and analytical data in the chain. That’s what makes bitcoin such a strong base layer.
Hodl waves are based on utxo data. In very simple terms, a trail of breadcrumbs or” dust ” remains in every process. The snippets of this utxo item have a date and time stamp that allows us to look at the date of the bitcoin blockchain. Unchained Capital went into more detail about utxos on its blog. Today I will focus on three different groups that have emerged in the HODL waves.
You can see there are different colors above. Each color indicates the age of UTXO groups. 10 years is the oldest and 24 hours is the smallest. If you look at the top of each cycle, you can almost see how the waves form. Follow this up and right, and here was the original wave walking.
Lost Coins
The first HODLE wave band we can think of is “lost coins”.
