Analysis Method: Fibonacci & Wave Theory
This Analysis will be Updated.
“A picture is worth a thousand words” is an English language adage meaning that complex and sometimes multiple ideas can be conveyed by a single still image, which conveys its meaning or essence more effectively than a mere verbal description. Seeing something is better for learning than having it described.
The original form: “A thousand words leave not the same deep impression as does a single deed.”
BSV Immediate Target: $281-$372
Time-frame: 1 Week (Oct. 25)
Crypto Markets will begin to move substantially higher between now and early 2021. (Jan-March)
The world is on the cusp of a technological revolution. Blockchain technology will be implemented in almost all business sectors. Blockchains will provide empowerment, accountability, and transparency.
BTC: 338.9K per day
BSV: 703.3K per day
BCH: 22.4K per day
Breakout Imminent. 🚨
After, the BSV one hour wave sequence. The following price-action was a FLAT (3/3/5) correction sequence (ABC). Correction sequence complete. Now, looking for a Minor Wave 3.
Minor Wave 3 Target: $216-$198
SP500 – WARNING ⚠️ – KEY LEVEL 3238.50
How does Merged Mining work?
Every merged mining implementation has an auxiliary chain and a more established parent chain. To work together, both chains must share the same hashing algorithm. We’re going to examine one of the most popular merged mining pairs, Namecoin and Bitcoin, to explain the process.
In this pair, Bitcoin is the parent chain while Namecoin is the auxiliary chain piggybacking off Bitcoin’s network. Both cryptocurrencies use the SHA-256 hashing algorithm for mining.
Parent chain developers don’t need to perform any additional work to implement merged mining. Therefore, the Bitcoin network doesn’t even need to know that Namecoin is mining along with it.
Auxiliary chains, however, need some added development to integrate merged mining. Continuing our example, Namecoin developers updated the blockchain to accept proof of Bitcoin mining as valid on the Namecoin blockchain as well.
Merged Mining Process
Merged mining requires no additional computing power for the miners. As a miner, you mine Namecoin and Bitcoin just as efficiently as you would when mining only Bitcoin. You (or your mining pool) just need to perform the additional set-up to support it.
Blockchains will transform data and content to empower the individual.
Breakout Alert unchanged.