Which is more important for the end of 2018?

  Bitcoin-NVT-Ratio "title =" Bitcoin-NVT-Ratio "/> </div>
<h2>  How will Lightning's network influence the Bitcoin NVT ratio? </h2>
<p>  Bitcoin's circulating offering is in steady increase and will continue to increase until 2140. This inflation inevitably has an effect on the ratio of network value on transactions (NVT) of the bitcoin network. </p>
<p>  In an article published earlier this week he called, "<strong> Bitcoin NVT Report </strong> Normalized by Inflation in Circulation Supply ", a biomedical student and" maxima cryptatiesis "of the self-proclaimed BTC, explains his analysis after considering the inflation of bitcoin coins. [19659004] It is a follow-up to the previous article on cryptopoiesis called "Short comments and questions on the flash" Effect of the network on the Bitcoin NVT report. "Both articles were published last week. </p>
<p>  What has revealed the analysis of cryptopoiesis? How will the Lightning network and the bitcoin inflation ect the NVT of the bitcoin network over time? </p>
<p>  According to cryptopoiesis, the Lightning network will make it more difficult to calculate the ratio of the network transaction value (NVT) of the bitcoin network. </p>
<p>  The problem with <strong> Lightning Network and NVT </strong> predict that transactions are extinguished off-line. Yes, the final values ​​are ultimately resolved on the chain, which means that the full value of the transactions appears at the end on the bitcoin blockchain. However, calculating the transaction-specific value of each transaction can be difficult: </p>
<blockquote>
<p>  "The benefits provided by the Lightning (LN) network, not least as far as discretion is concerned, still place some limitations on TV estimation (transactions that I believe should be taken into account for the purposes of the accuracy of the NVT report.) "</p>
</blockquote>
<p>  However, cryptopoiesis <strong> </strong>  believes that we can use the daily percentage change to calculate the value of the transaction even after the adoption of Lightning Network continues: </p>
<blockquote>
<p>  "After several attempts to correlate the recently adopted and rapidly evolving LN parameters to those of TV and MC declining in the bear market this year, I had opted for the percentage change in the network capacity of The daily percentage variation in LNC and TV, in my opinion, provides reasonable proof that LN is used and stable and that LNC shows a good degree of correlation with the general TV since June 2018. This would imply that the ability of the Lightning network could act as a proxy metric to estimate the value of the Lightning network transaction, if there was a way to know how it should be interpreted. "</p>
</blockquote>
<p>  In other words, the percentage change in Lightning's network capacity is related to that of the transaction value on the chain, which means that Lightning Network Capacity can act as a proxy metric to determine the overall and more inclusive value of the transaction, both on the chain and on the lighting network. </p>
<h3>  How to normalize the Bitcoin NVT ratio for inflation in the current supply </h3>
<p>  Bitcoin's total supply is constantly growing. "inflate" with more bitcoins released until 2140. This inflation, understandably, will have an impact on the relationship between network value and bitcoin transaction ratio.The cryptopoiesis has decided to investigate the problem and normalize the NVT bitcoin ratio for inflation in the circulating supply. </p>
<p>  The final result is similar to the previous post of the criptopoesisis discussed above, but normalized by inflation. ion for greater accuracy: </p>
<blockquote>
<p>  In the previous article, I adjusted the Bitcoin NVT ratio (specifically the Woo NVT signal) to take into account Bitcoin's money inflation. The reversal to NVT Ratio is more precisely the result of long-term differences in the volume of transactions on the chain (BTC) and the supply of coins in circulation. "</p>
</blockquote>
<h3>  Lightning Network could make monitoring difficult – Chain Transaction Volume </h3>
<p>  The <em> Lightning Network </em> could also make it more difficult to track the volume of chain transactions. </p>
<blockquote>
<p> " The large volume of transactions on a chain that typically follows a bullish market may not be as obvious as in previous cycles if the adoption of Lightning Network continues, "explains cryptopoiesis." Regardless of whether net values ​​are calculated on the chain. "</p>
</blockquote>
<p>  <em> The cryptopoiesis </em> has already established that the lightning strike capacity is related to the volume of transactions on the chain, which means that it can be used to calculate a precise number of the transaction volume. </p>
<blockquote>
<p>  "However, it is not clear how exactly this metric can be interpreted / elaborated. "</p>
</blockquote>
<p>  Ultimately, you can read both cryptopoiesis posts on NVT report of the bitcoin network here. </p>
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