Bonus guide: The UTXOracle python script

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A very cool project by Daniel Hinton and Steve Jeffress that allows us to get a very precise approxiamation of the Bitcoin $USD price from the blockchain alone - without accessing any external site/exchange.

The sript is taken from the UTXO.live website run by the creators. A Bitcoin Magazine article explaining the concepts available here In short the script is based on the fact that many utxos (15 percent on average) are in round $usd amounts ($100 and $50 mostly), so it should hold until hyperbitcoinisation :)

Difficulty: Easy

Status: Tested v3

Installation

This script can be run by user “admin” without root privileges, it requires access to bitcoin-cli and server=1 option in bitcoin.conf as well as python3

• Install python

  $ sudo apt install python3
  

• Download the script.

  $ cd /tmp/
  $ wget https://raw.githubusercontent.com/raspibolt/raspibolt/master/resources/UTXOracle.py
  

• Read the script to see what it does (the script is very human readable so it is recommended) Exit with q

  $ less /tmp/UTXOracle.py
  

• Install the script and make it executable

  $ sudo install UTXOracle.py /usr/local/bin
  

• You can now run the script with user “admin”

  $ cd ~
  $ UTXOracle.py
  

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