Home Cryptocurrency PlanB confirms Bitcoin ‘S2FX’ model still on track for $288,000

PlanB confirms Bitcoin ‘S2FX’ model still on track for $288,000

by Serge Shlykov

It was reported yesterday that cryptocurrency mining is big, and it is, but the most popular of those companies are not doing anything groundbreaking any more. S2pool is proof of that. They use the traditional approach of pools to increase the size of the network, but they are not doing anything groundbreaking or innovative to make their mining better or more profitable. They are just doing the same thing as Bitmain and other large companies, and they are not even doing it better.

While most of the news from Japan at the moment is dominated by the country’s devastating earthquake and nuclear crisis, there is another story that is currently making waves in the cryptocurrency community. PlanB, a Japanese cryptocurrency exchange, has announced that it will use an existing model for “S2FX,” or “Second-to-First Exchange,” to list a new cryptocurrency – Bitcoin Cash.

Retail investors are keeping a close eye on the fast-moving world of digital assets after Bitcoin soared and crashed so many times. For top cryptocurrencies such as Bitcoin and Ethereum, the past year has been a roller-coaster ride of highs and lows. Traders are still buying and selling them at record highs, despite the recent price plunge that saw bitcoin fall as much as 25% in a matter of hours.. Read more about bitcoin price correction and let us know what you think.

Anonymous but popular crypto-trader PlanB, who created the Bitcoin Stock-to-Flow (S2F) transition model, has provided an update on how the leading cryptocurrency is faring after its recent crash. Last month it closed at -35%, but PlanB has tried to reassure his followers that the road will not be straight up. However, despite this decline, the S2FX model remains unchanged. New article: May closing price of $37.341…. -35% … We knew #bitcoin wouldn’t move in a straight line, and that -35% declines are possible (and even likely) in a bull market. It’s starting to look like 2013. S2F(X) is not damaged, according to their tweet today. New article: May closing price of $37.341…. -35% … We knew that #bitcoin would not move in a straight line and that declines of -35% were possible (and even likely) in a bull market. It’s starting to look like 2013. The S2F(X) model is intact. pic.twitter.com/Yu3PAplex5 – PlanB (@100trillionUSD) 1. June 2021 According to the S2FX model, bitcoin will be worth $288,000 between 2021 and 2024. Yet the model is not without its critics, who point out the problem of incorrect assumptions.

Bitcoin madness takes its

May was a particularly tough month for bitcoin, with one confusing event after another driving the price down. Between its peak of $65,000 in April and its recent low, bitcoin has lost 55% of its value. Over the past week, there was a narrow band of price consolidation, with BTC fluctuating between $34,500 and $39,000. Bitcoin remains below its 200-day moving average, suggesting that bears are currently dominating the market. However, PlanB announced that the May close at $37.3k added a new orange dot to the S2FX model. Thus, the target of $288,000 is maintained. @100trillionUSD on Twitter.com PlanB confirms Bitcoin ‘S2FX’ model still on track for $288,000

What is S2F?

The S2F model refers to the relationship between the current stock of assets (or work in progress) and the production flow (or mined tokens). The higher the number, the rarer the property. Refining the model, PlanB developed S2FX, which allows other rare assets such as silver and gold to be valued using a single formula. This new model also integrates phase transitions to present a new way of thinking about asset maturity.

  • Proof of concept -> according to the Bitcoin white paper
  • Payments -> according to USD parity (1BTC = $1)
  • E-Gold -> after 1. Halving the quasi-parity of gold (1BTC = 1 ounce of gold)
  • Financial assets -> after 2. Halving (milestone of 1 billion trades per day, legal clarity in Japan and Australia, futures markets on CME and Bakkt)

Investor Marin Katuza analyzed the S2FX model in detail and found some critical points. This includes the fact that price is a function of supply and demand, not just demand as the S2FX model suggests. Regarding phase transitions, Dr. Katuza noted that correlation is not the same as causation. Especially when there are no numbers to confirm what happens at each phase change. What they do not do, however, is support or prove the author’s mathematical model. We can say that phase changes cause prices to rise or fall, but without the math behind it we can’t say by how much. Overall, S2FX is an interesting predictive model. But as Katuza argues, it contains inherent flaws and lacks profound mathematical validity.

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A few weeks ago, some new information surfaced that could lead to a new type of Bitcoin investment product.. Read more about when was bitcoin at its lowest and let us know what you think.

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