In order to evaluate the performance of Bitcoin in 2022, this paper comprehensively covers many different vertical indicators of the Bitcoin ecosystem. In an increasingly complex ecosystem, Bitcoin is growing in various ways. For 14 years in a row, Bitcoin is very tenacious and refuses to die! The following content will answer for you.

1、 Bitcoin funds and forks

Venture capital financing has exploded, because those companies that survived in the previous cycles have now expanded by several orders of magnitude and made huge late stage financing. It is worth noting that with the full outbreak of the bear market and the credit crisis, the risk investment in the fourth quarter dropped significantly. I predict that the investment in 2023 will be greatly reduced, because venture investors are very interested in the development and progress of other technology fields such as artificial intelligence.

I have always been obsessed with raw data related to Bitcoin operation status and growth. The life cycle of Bitcoin is like a roller coaster ride. For the same purpose, I checked the sources of all parties and summarized the relevant statistics of Bitcoin growth in 2022. The data is too scattered to see all the relevant content of the change trend, but when they are concentrated, everything will become clear.

I have summarized a theme from all indicators, that is, 2022 is a typical disaster of Bitcoin bear market; Once again, we overcame many major setbacks with perseverance.

2、 The Development and Change of Bitcoin

In 2022, the collapse of several top crypto tokens offset the decline in the total market value and exchange rate of Bitcoin. On the other hand, the statement of "fast and low-cost payment" did not perform well in BCH. This is a highly competitive arena, and dozens or even hundreds of alternative coins can claim to be. "Best". Of course, Bitcoin itself will continue to compete in this arena through the Lightning Network, which will be mentioned later.

Lightning network has made greater progress in 2022. Because of its stronger privacy function, we can always obtain more accurate statistics of on chain activities. The change in transaction costs is a controversial aspect of the change in the nature of Bitcoin. At the end of 2017 and the beginning of 2018, the rising cost has caused great obstacles to users trying to conduct small transactions. However, due to various factors, the cost will almost drop to zero in the next two years.

In 2022, due to the depressed market sentiment, we can see that both the demand and cost are hovering at the lowest level, although the transaction value still reaches the historical level more than once! Due to the security mechanism of the exchange, there may be a lower limit for the reuse of addresses. According to the evaluation data, nearly half of Bitcoin transactions involve exchanges, and the deposit and withdrawal mechanism of exchanges often encourages not to generate new addresses. In recent years, this indicator has hardly changed.

3、 Is Bitcoin a cryptocurrency?

You may think Bitcoin is a cryptocurrency, but some users think it is a trust anchor. By embedding data into the blockchain of Bitcoin, other systems can obtain new attributes such as tamper proof and tamper proof. Here are some interesting points to note: I suspect that this decline is due to the fact that others have not merged. RSK improves the hash rate of the ore pool compared with the miners' stopping combined mining. The growth of the side chain of Blockstream's Liquid in 2022 is also very small, which can be ignored. Although the exchange rate and block space are in a bear market, Bitcoin miners seem to be doing quite well.

4、 Operating cost of Bitcoin node

Anyone who has been paying attention to Bitcoin for a long time may realize that the debate leading to various software bifurcations and blockchain bifurcations is getting fiercer and fiercer. The good news for node operators is that the resources needed to fully verify the complete history of the blockchain seem to be slowing down, which means that node operators should be able to take advantage of the deflationary nature of technology.

However, from some recent reports, we can see that many mining businesses in emerging industries are in trouble due to excessive leverage. I expect there will be a delay in 2023, so the network growth will slow down, and some large enterprises will go bankrupt and be acquired by survivors.

From the perspective of overall ecosystem security, 2022 is an amazing year! A major hacker attack will lead to the loss of system confidence. Even if the attack has nothing to do with protocol or network security, it will also become a major setback for the development of the system. On the other hand, in 2022, the fraud and poor risk management of the trusted third party caused huge losses.

5、 Bitcoin Economics and Growth Index

As usual, many economic indicators of Bitcoin are related to the exchange rate, and the exchange rate has declined throughout the year.

From the perspective of relevant history, the overall decline of the exchange rate is a typical feature of a bear market year. Some institutions must have weakened Bitcoin's interest, but most companies still seem to hold Bitcoin.

The growth of Bitcoin transaction ATM continued to rise, but slowed down from exponential growth to linear growth. This is reasonable, because I questioned last year whether ATM usage was closely followed, given that the indicators on the chain did not show the same level of retail use.

Although this is a bad year for centralized hosting users, it is a great year for self hosting supporters! Willy Woo, I put forward a good point - although the interest in futures calculated in fiat currency has declined, the interest in futures calculated in bitcoin is still rising. The development of technology at the protocol level witnessed a lot of efforts in 2022. The Bitcoin Core library continues to be the most active and dominant.

Most people are only familiar with Bitcoin exchange rate. However, the exchange rate is only one of many indicators that we observe the evolution of ecosystems. Although any specific indicator may be manipulated, or the source is not 100% reliable, we can roughly understand the change trend in this field by using various indicators and sources.

summary

To sum up, 2022 is a unique major cycle of cascading credit crisis and open fraud. The loss of confidence and interest in this field is a scene we have seen many times in previous cycles. Those of us who are committed to the Bitcoin ecosystem will continue to develop and build to add value; We cannot control the market, but I expect market sentiment to rebound. We will see another wave of bitcoin use, which is adopted by the public who need it most.