Hi how are you? My name is Miguel and I welcome you to this video of Crypto Sphere, in this video I'm going to talk about bitcoin and a couple of news that we have had the last days which I thought were quite interesting and behind one of these news there is a theory that I read in the network community and in the last days and of which I am going to talk to you later first we are going to talk about this publication of the line in network which says that line and network is only a few seconds slower than the best payment solutions digitally centralized in the market as apple pay and that is actually days more fast when it comes to the incorporation of trade according to a researcher called jp short this article what he does is a comparison between this fiat payment method which is the fastest comparing it with the payments through two line in network wallets that we have working in the One market is the satoshi website and the second is the blue world and this test that this short researcher made came through a a tweeter that published anthony Pompeian which has spoken to you previously in other videos who is a bitcoin evangelist says that the network of lightning it's very fast and it would not surprise me if the transactions go from wallet wallet faster than the time it takes for a credit card machine in processing the chip of a card that is inserted and that someone should perform a test to time and record everything in video going back to article this what this researcher has done and he here and below says that sending a payment through line in network will always be faster than visa and it says lenin network payments can be processed as fast as a tcp / ip connection between 12 people and it has been shown that only a single channel processes more than 250 transactions per second so the network can climb to a real upper limit and says here that there are other aspects to have in account but that if we are only talking about paying paul page is still a couple of faster seconds in the real world compared to line wallets in network then what he did according to what he says here the solutions he tried is that the let's say you calculated the time it takes to set up the application apple pay in an iphone phone / that you enter all the data of your card debit and with figures to make the payment approximately I think he said which took five minutes to say here and calculated the time when it took to set up all this payment system of apple pay with the time it took to download and set up the wallet or purse line in network which one of them is the return of satoshi the second is the blue world then the comparison he made between apple pay and the configuration it's between these two wallets it was about the same time five minutes and this is what refers to the configuration but what it refers to the payments here he says that so paul p is a couple of seconds faster that the eu unleashed itself but nevertheless it is normal because apple pay has more time in the market and that satoshi ball which by the way still in beta version should improve with the updates also says that apple will win in total transaction time but only for a couple of seconds but that as more point-of-sale options appear in the market the satoshi ball and the blue wall should improve with time and then goes on to say that where bitcoin solutions solutions line in network where they emerge triumphant is the incorporation in shops is say that it is faster for a trade to set up the payment system of lightning network which simply through these wallets it takes approximately five minutes set up a payment channel to go through the traditional system which would be to obtain one of those payment terminals with a card- which is a process that you know you have to apply for a bank and between those who request them and receive them because it is a process that takes a time between 1 to 3 days therefore says that here the clear winner is in speed is the bitcoin solution and what should be to merchants to adopt payments with bitcoin and here summarizing says that this evaluator points out that in terms of payment line in network is already comparable to the best payment solutions fia market since it is only a few seconds more slow that apple pay and concludes that this should improve with a better update of these wallets mentioned here then says to pay the merchants is just one of the many capabilities of the line it but that the real disruption lies in the fact that these new models of business can send micro payments to everyone which means that you can can allow payments of a few cents for for example bandwidth read an article streaming tweet and more which has been a very interesting comparison and it's a very good news for what it is the development of the network in line network which is only one year old and This short period of time has evolved quite a lot and are being shown as a real and real solution for businesses like one more payment option and it is probably going to be tested and it is being verified that can become even better and faster than the fiat payment systems that now we're going to jump right now to the main story which is is here that says the bitcoin hash trade has reached the maximum of the last three months this news tells us here that the bitcoin hash frei has achieved more than 50 million hashes per second here shows us the graph I have it here more expanded we see as from the In mid-December, a bitcoin hash-trade promotion began, surpassing those 50 million hashish per second continuing with the article we can see here that says that the rise could be a bullish sign for the price of bitcoin since some believe that miners invest in the future price bitcoin spot but this article interests them because it brings two let's say two statements or two different opinions first we have the opinion of max scherzer that according to twitter says that the bitcoin price follows the hash trade or the bitcoin hash trade trend and that we have an uptrend for nine years on the other hand we have this researcher called jameson loop who believes that is the opposite says that the hash trade is the one that follows the price that some people believe that the price follows the hash rate possibly because it not only tracks the spot price but it tracks the future speculative price and that the miners also they are speculators and here in this I agree with Jason loop and I differ from the opinion of more than we are telling you that you are telling them that the price of bitcoin follows the trend of the hash break x is the opposite is say the hash rate is the bitcoin computation rate that follows the action or the bitcoin price movement and as we can check this look let's go to come to this website in vite info karts dotcom we can see a graphic that compares the price of bitcoin with the bitcoin rate or hash here we can see how in this bull market of 2017 the price of bitcoin when I went in descent the 'hashtag' followed the price by moving us to another bull market of bitcoin between 2013 to 2014 that was started in October 2013 we see that the action or the price trend of the cross-eyed on top and the king hash continues at the price and now because I mention this because because according to this graph of just wright has come up with a theory that can potentially tell us that or we are or we have already touched the bottom or the ground in the bitcoin price and for it first let's see this list is from a publication that made a few months ago in which it shows us the cost per country of mining a bitcoin this taking into account the average price of electricity per countries and if we add a little for this list we can see that cost of mine a bit coin in each of these countries and although neither you nor I can know one hundred percent how realistic or accurate these numbers are if we can see curious things for example we see that the most expensive country where it costs to mine a bitcoin is south korea which costs something more than 26 thousand dollars and then the country where it costs less is venezuela with 531 dollars well let's use this list as a reference of what I'm going to talk about later, let's go now to this website called dotcom bts well on this page we will see the following surely most of you know that most of the power of bitcoin network mining computation is in china and that if For example, we take a look at mining companies or pools main we can see that in bcs dotcom and and pool are the two companies of mining that control the highest rate of computation leaves trade the bitcoin network and in fact we can see this in this graph in which we see that bds puntocom and am pool are the two companies with the highest market share of hashish or rate of bitcoin and the curious fact of these two companies is that in instead of that point they ate pool they belong to bit main which is the company that also manufactures mining machines asique and beit main as all you know is located in china also this is the third the fourth the most great efe two pools and we look for it in wikipedia which I already did previously we will also see that it is located in china and if I'm not wrong I also saw bird tc is also located in china so that this confirms that most of the mining power is established and it comes from china then keeping this in mind and know how much it costs us to look at a bitcoin in China now we're going to come back from new to the list and we will see here that the price of mining a bitcoin in china are three thousand 172 dollars and this is also a very familiar number in the graph of bitcoin prices let's go to the price chart if we look at the lowest minimum price of this bitcoin bear market so far we see that it is represented in this candle which gives us a price of 3 thousand 128 dollars in coin you see therefore once again mine a bitcoin in china are 3 thousand 172 dollars and the lowest price of the bitcoin bull market until the moment have been 3 thousand 128 dollars now what does this say to us that when the Bitcoin mining is at those price levels which we have seen here they will continue to mine and therefore they will sell those bitcoins in the market because then because you have to take into account that they have to pay electricity they have to pay salaries they have to pay the rent and they probably have they reinvested part of their profits too so the miners were selling bitcoin and they stopped selling up to this level that was just where stopped being profitable for them and once again this brings them to two options first or stop selling bitcoin so that the price does not lower anymore or just stop mining and those are the options that they have to be able to keep let's say a business profitably now if we take a look at the graph of bitcoin hash rate, which already we know that the majority comes from china we see that the decline came to an end to mid-December 2018 and we see in the chart that since the middle of 2018 the price bounced on this level and from here it started to rise that was when the bitcoin miners probably stopped selling because it was no longer profitable to continue selling pts below or beyond this level of $ 3,100 then with this we know that the cost of mining a bitcoin in china are 3 thousand 172 dollars we know that is the until the bitcoin price trend continues and we know that most of of the computing power is to say the hash break comes from china which are the ones that dominate the market and this is the theory by which it is believed that the price of bitcoin has already hit bottom or has capitulated so I'll turn you to summarize the theory the bitcoin Chinese miners were selling bitcoin and for so they launched the price at the level where it was no longer profitable let's say in mine a bitcoin until then that was the level of 3 thousand 150 dollars a that price level then stopped selling the bitcoin therefore no longer there was so much selling pressure in the market and then the price started to recovering because the selling pressure had disappeared and obviously the hash trade was returning to the network because the price was going up and the hash trade started to rise from there so this is the theory as the word says it is only one theory does not mean that the price will not continue to fall from of these levels of fact here in the price chart we are touching certain levels of resistance this level of important resistance that we have here is the moving average of 50 of 50 candles which we see that we have touched already five times and we did not manage to pass that level of resistance and then the second resistance is this level here on about the four thousand dollars but nothing tells us that the price does not continue to fall but if it seems according to this theory that we see the price fall below these levels well this is all from my side by this video let me know what you think about this theory thanks for watching this video if you like this kind of content do not forget to subscribe give the bell notifications leave it in I like the video thank you for viewing and see you in the next chao
