Coin_Blocks_Created_total

Tech spec

Brief Description: The cumulative coinblocks created over time.

Coin_Blocks_Created_total measures the cumulative coinblocks created since the genesis block. It reflects economic activity and is a fundamental unit in the Cointime Economics framework.

Interpretation Analyzing Coin_Blocks_Created_total provides insight into the growth and economic activity of the Bitcoin network. A rising Coin_Blocks_Created_total reflects an increasing circulating supply and heightened network activity, potentially indicating market expansion and investor engagement. Conversely, a plateau or slower growth in Coin_Blocks_Created_total could suggest a stabilization in market activity or a decrease in new investments. This metric helps to understand the macroeconomic behaviors of the Bitcoin market, including investment trends and network health.

Advanced Explanation The concept of Coin_Blocks_Created_total involves analyzing the aggregate number of coinblocks created over time. Coinblocks are defined as the unit of cointime, representing the product of coin volume and lifespan in blocks. When a Bitcoin transaction occurs, it creates a certain number of coinblocks, which are then accounted for in the Coin_Blocks_Created_total metric. This metric is a comprehensive reflection of economic activity within the Bitcoin network, as it encapsulates the transactional movement and spending behavior of Bitcoin users.

Coin_Blocks_Created_total is a primitive of cointime economics. Cointime Economics is a new framework for Bitcoin onchain analysis published by James Check and David Puell. References: https://ark-invest.com/white-papers/cointime-economics/ and https://insights.glassnode.com/introducing-cointime-economics/