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Creating a Python script to solve the oracle problem in Bitcoin
The speakers discuss their decision to use a Python script to solve the oracle problem in Bitcoin and explain the stencil method used to estimate a price. They highlight the script's simplicity and ease of understanding for non-technical individuals.
On today’s conversation with Daniel Hinton and Steve Jeffress, they talk about the idea of financial oracles and how the price of Bitcoin in US dollar terms is passively showing up in the data of the Bitcoin blockchain.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:39 - What is an Oracle and what is it needed for?
06:42 - What is a UTXO?
08:29 - What price information was discovered in the Bitcoin blockchain?
10:17 - How was it found?
10:17 - What are some other interesting things that have been found in the "heat-maps" of the data?
31:32 - How could this discovery be used in the future?
32:54 - Can you see the Hodl-waves in the data?
47:34 - What are some of the more important things to focus on in Bitcoin?
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