Bonus guide: The UTXOracle python script

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 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


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

    $ less /tmp/
  • Install the script and make it executable

    $ sudo install /usr/local/bin
  • You can now run the script with user “admin”

    $ cd ~