BTCparser

BTCparser2 User Guide


Working principles, advantages, and disadvantages of BTCparser2


One of the key working principles of the blockchain is its transparency. At any given moment information about all transactions added to the block, as well as detailed information about a specific wallet registered in the system, can be accessed. This information can be accessed by multiple different services like blockchain.com and similar systems. Special parsing bots are used to solve more specific problems. These bots are used to process the information from mined blocks.

BTCparser2 is one of these bots. It is used to analyze the Bitcoin blockchain and does the following: every time a new block is created, the bot takes the full list of transactions from this block to calculate all the incoming and outgoing transactions for each and every unique wallet. The bot then selects wallets used to send or receive more than 200 BTC (the amount can be changed). The summary is sent to https://btcparser.com/2/ or the public Telegram channel t.me/BTCparser2



What is the purpose of BTCparser2?


The key feature of BTCparser2 is the ability to calculate the total turnover of the wallet within a block. If you open a block in a special explorer and try to sort transactions by their amount, the final information won't be technically reliable. There can be a lot of small transactions used to send money to the wallet, and it's possible to track such activity only by summing them up using a unique wallet address. That is the main purpose of the current parsing bot.

Never try to use the statistical information from the bot to predict short-term BTC price changes, as the bot was created for a different purpose. The key task of the bot is to track the current load on the network (the number of transactions included in the block) and all big transactions.

Users can send their BTC to exchanges and vice versa, so these transactions can't affect bitcoin price. It's just a regular activity in the blockchain that defines the behavior of specific participants of the network. The data provided by the bot is required to understand the current state of the Over-The-Counter market and the mood of big holders of bitcoin.



Data recording format


By using the address mentioned above, you can find information about each and every block. Some of them will be added with additional statistical information.


Telegram data output format
Telegram data output format

Each message contains the following data:

  • The date and time when the bot received information from the new block
  • The number of the processed block
  • The number of wallets corresponding with the given condition (more than 200 BTC of transactions within the block). More detailed information is provided in the 'Contents of Filter file' section (see below)
  • The overall number of the wallets within the block (duplicates are not excluded)
  • The overall number of transactions

For example, the following record: '2018-10-29 08:43:41.854: Block #547810 successfully parsed, new records added to file = "0" (total records = "4993", total tx count = "1091").' means that bot completed the analysis of the block #547810 at 8 hours, 43 minutes, 41 seconds on October 29, 2018; this block contains 1,091 transactions, which were made by 4,993 different addresses. At the same time, there were no wallets used to send or receive more than 200 BTC in total.


If the bot finds a wallet that was used to send or receive more than a given amount (200 BTC) in total, then the 'Contents of FILTER file' section will contain additional information:

  • Address of the wallet
  • The amount of BTC received and sent by the wallet within the block
  • The number of incoming and outgoing transactions within the block

For example, the following record:
'1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g;379.08917427;0.00000000;4;0;' means that the wallet with 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g address was used to get 4 incoming transactions for the total amount of 379,08917427 BTС. There were no outgoing transactions registered. This type of information will be provided for every wallet corresponding with the filtering condition.



Main advantages


BTCparser2 has following advantages:

  • Relevant information – the bot analyzes the blockchain on a permanent basis and processes every new block immediately after its creation. Firstly, you will know the time and date of the new block creation (depending on the activity of miners). Secondly, you will see if there were recent large crypto-currency transactions.
  • Unlike many other bots which analyze only specific wallets, BTCparser2 works with the entire block. It calculates the sum of incoming and outgoing transactions for each wallet. Several bots track any changes of the wallet balance, however, they send a lot of useless messages (noise), informing users about transactions of less than 1 BTC. BTCparser2 provides information only about those wallets which are used to send or receive more than 200 BTC within the block. There are bots which are used to analyze all transactions within the block and provide information about transactions higher than a specific amount, however, these are not able to analyse when a wallet is used to get 10 payments of 20 BTC within a block. At the same time, BTCparser2 sums all unique transactions together. For example, if a wallet is used to receive more than 200 BTC, BTCparser2 will add it to the message.
  • The bot will show the number of transactions and the address of the wallet for each amount. As a result, the user is able to open any block explorer to find specific information by using the given wallet address.

The biggest disadvantage of BTCparser2 is that it supports only the Bitcoin blockchain at the present moment. Other disadvantages are not really important:

  • The bot sends a lot of messages during the day. One block is usually mined in around 10 minutes, so the bot will send more than 150 messages per day.
  • The bot is not able to show detailed information about transactions (with sender and receiver). The key task of the bot is to 'catch' all wallets making significant transaction totals (more than 200 BTC) within a block. All the detailed information can be accessed by submiting an address to some blockchain explorer.


Questions and answers


Question: The bot is used to track the overall activity of wallets within a period, but not large transactions?

Answer: It can be used to perform both tasks. For example, the bot will inform the user about a single transaction of a specific amount. At the same time, if the wallet was used to send or receive a hundred small payments (by using so-called Bitcoin-mixers), BTCparser2 will catch that as well.

Question: Is it possible to see the breakdown of payments to the wallet? The bot shows only the total amount and the number of transactions.

Answer: You can use any 3rd party block explorer to get this information, for example, blockchain.com

Question: The description of the bot says that the bot detects only wallets with transactions of more than 200 BTC. The screenshot shows an amount less than 200 BTC. Is this a mistake?



Answer: No, it's not. The wallet was used to send almost 2,300 BTC within the same block. It's more than 200, so the wallet is added to the summary.



Question: If the wallet was used to get 200 BTC, then 200 BTC more, and even more still, will the bot send a lot of messages?

Answer: No. If the wallet was used to make 3 transactions (200 BTC each) within one block, the bot will show the total amount of 600 BTC (and the total of 3 transactions).

Question: The format is not really convenient. Is it possible to divide the data into several rows?



Answer: Unfortuantely not, try to set a smaller font in your Browser or Telegram.