Gifting Bitcoin and the Viability of UTXOracle

This chapter discusses the experience of gifting Bitcoin to friends and suggests that educating people about Bitcoin might be better than directly gifting it. The viability of UTXOracle as an actual Oracle for business and smart contract functions is also explored, highlighting the importance of running a full node in the Bitcoin ecosystem and the advantages of using UTXOracle for decentralized trading or DLC activities.

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Episode notes

Marty sits down with Steve and Daniel to discuss UTXOracle, a way to estimate Bitcoin's price using nothing but node data.

Steve on Twitter: https://twitter.com/SteveSimple

Daniel on Twitter: https://twitter.com/DanielLHinton

Check out UTXOracle and other data visualization: https://utxo.live/

0:00 - Intro
6:41 - Steve and Daniel’s background
10:59 - Explaining UTXOs
13:34 - Visualizing data
20:46 - Effect of Bitcoin ATMs on patterns
25:24 - How to infer price from UTXO data
35:27 - Usefulness as an oracle
45:28 - Possibility of price per block
46:41 - Human action, opportunities and attack vectors
53:26 - Effect of ordinals
55:49 - UTXO mismanagement
1:02:37 - Spending old coins
1:06:51 - Taproot changes and far future problems
1:18:20 - Fun new concepts
1:27:43 - Run the numbers yourself
1:32:58 - Wrapping up

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