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The Biturai crypto encyclopedia: AI-assisted, data-informed, and continuously quality-audited.
HODL Waves: Visualizing Bitcoin Supply by Holding Age
HODL Waves are an on-chain analysis tool that visualizes the age distribution of Bitcoin's total supply over time.
Bitcoin NUPL: Net Unrealized Profit/Loss Explained
The Net Unrealized Profit/Loss (NUPL) is an on-chain indicator that assesses the overall profit or loss state of the Bitcoin network.
Bitcoin as Digital Gold: A Comparison with Physical Gold
Bitcoin is often referred to as "digital gold" due to its perceived scarcity and role as a store of value, drawing parallels with the traditional safe-haven asset.
Lost Bitcoin: Estimates of Permanently Inaccessible Supply
Lost Bitcoin refers to coins that are permanently unspendable due to forgotten private keys, hardware failures, or other irreversible circumstances.
Bitcoin's 21 Million Cap: Understanding Its Finite Supply
Bitcoin's maximum supply is permanently capped at 21 million coins, a fundamental design choice by Satoshi Nakamoto to create scarcity.
Bitcoin Stock-to-Flow Ratio: Step-by-Step Calculation
The Stock-to-Flow (S2F) ratio quantifies the scarcity of an asset by comparing its total existing supply to its annual production rate. For Bitcoin, this involves relating the current circulating supply to the newly mined coins over a year.
Recursive Inscriptions on Bitcoin Explained
Recursive Inscriptions allow new Bitcoin Ordinals to reference data from existing ones, overcoming individual size limits and enabling more complex digital assets.
BRC-20 Token Standard: Mint, Deploy, and Transfer
BRC-20 tokens are an experimental fungible token standard on the Bitcoin blockchain, leveraging Ordinals inscriptions. They enable the creation, minting, and transfer of tokens by inscribing JSON data onto satoshis.
Understanding Lightning Network Routing Fees
The Lightning Network is a Layer 2 solution for Bitcoin, enabling faster and cheaper transactions off-chain. Routing fees are small payments to nodes that forward these transactions, incentivizing network operation and liquidity provision.
Lightning Invoices and the BOLT11 Format Explained
Lightning invoices are standardized payment requests on the Lightning Network, enabling instant and low-cost Bitcoin transactions.
Lightning Splicing: Adjusting Channels Without Closing
Lightning Splicing enables users to modify the capacity of existing Lightning Network channels without requiring them to be closed and reopened.
Lightning Channel Liquidity: Inbound and Outbound
Lightning Network liquidity refers to the capacity to send or receive Bitcoin through payment channels.
Lightning Routing: How Payments Find Their Path
Lightning Routing is the process by which payments navigate the Bitcoin Lightning Network, an off-chain layer designed for rapid, low-cost transactions.
Hashed Time-Locked Contracts Explained
Hashed Time-Locked Contracts (HTLCs) are a fundamental building block for off-chain transactions, particularly within the Lightning Network.
Initial Block Download (IBD): Synchronizing the Blockchain
Initial Block Download (IBD) is the fundamental process by which a new node fully synchronizes with a blockchain network.
Running a Bitcoin Full Node: Purpose and Benefits
A Bitcoin full node is a computer running the Bitcoin software that validates all transactions and blocks according to the network's rules.
Bitcoin Block Time: Why 10 Minutes Was Chosen
Bitcoin's block time is the average duration required to add a new block of transactions to its blockchain, set at approximately 10 minutes.
Bitcoin Confirmations: Why Six is the Standard
Bitcoin confirmations indicate how many blocks have been added to the blockchain since a transaction was included. Six confirmations are widely considered the industry standard for a Bitcoin transaction to be deemed irreversible and secure.
Bitcoin Orphan Blocks and Stale Blocks Explained
In the Bitcoin network, orphan blocks and stale blocks are valid blocks that ultimately do not become part of the main blockchain.
SHA-256 in Bitcoin: The Double Hashing Function
SHA-256 is a cryptographic hash function fundamental to Bitcoin's security and operation. It ensures data integrity and powers the network's Proof of Work mechanism through a unique double hashing process.