Bitcoin Forum
June 24, 2019, 09:15:46 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Poll
Question: BTCUSD by End of JUN. Now @8,400
Über Bullish (BTCUSD>9,660)
Bullish (9,000< BTCUSD<9,660)
Flat (7,800< BTCUSD<9,000)
Bearish (7,150< BTCUSD<7,800)
Rekkt (BTCUSD<7,150)

Pages: « 1 2 [3] 4 5 »  All
  Print  
Author Topic: Bitcoin Bearish or Bullish? Here my thoughts: MAY UPDATE (+POLL)  (Read 1406 times)
Hivalley
Member
**
Offline Offline

Activity: 210
Merit: 19

The future of security tokens


View Profile
March 01, 2019, 08:35:15 PM
 #41

We are in the month of March and I think in the month of February we see a sign that bitcoin will might reach the price of $5000. But, in this coming more months we need to expect more because there is a big chance that bitcoin will hit the price of $6000-$8000.
This is only your speculation and I do not believe it will happen, even if i wish and hope it does, but to be on the realistic side, I doubt it will.
With the latest movement, I now believe we would be in for a longer bear market that we already have,and this is a bad one because a lot of people are beginning to lose patience.
Every speculation,expert analysis etc have all failed,so we have only one option but to simply watch how things pan out
1561410946
Hero Member
*
Offline Offline

Posts: 1561410946

View Profile Personal Message (Offline)

Ignore
1561410946
Reply with quote  #2

1561410946
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1561410946
Hero Member
*
Offline Offline

Posts: 1561410946

View Profile Personal Message (Offline)

Ignore
1561410946
Reply with quote  #2

1561410946
Report to moderator
1561410946
Hero Member
*
Offline Offline

Posts: 1561410946

View Profile Personal Message (Offline)

Ignore
1561410946
Reply with quote  #2

1561410946
Report to moderator
1561410946
Hero Member
*
Offline Offline

Posts: 1561410946

View Profile Personal Message (Offline)

Ignore
1561410946
Reply with quote  #2

1561410946
Report to moderator
KennyR
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 501


Free Crypto in Stake.com Telegram t.me/StakeCasino


View Profile
March 01, 2019, 09:14:10 PM
 #42

When the combined growth of the month is calculated, it is completely bullish. We haven't got a big marginal growth, but we have ended the month with a 11% growth from the beginning price point of the month. This has set the market reach around $3900 by now. Possibly this seems to be the initial growth for the small scale price pumping.

kronos123
Sr. Member
****
Offline Offline

Activity: 896
Merit: 369



View Profile
March 07, 2019, 02:56:29 AM
Merited by fillippone (1)
 #43

1 trillion marketcap is still low, gold has a 7 trillion marketcap and that is mainly from store of value.  The world is moving to a digital world and gold is a hassle to transport globally while bitcoin just requires a few clicks of the mouse.
So true.
Next step is: if you think digital gold (Bitcoin) can be equal in store of value to physical gold, and physical gold has 7 TN of market value, what is the “fair” value of the digital gold, provided there are only 21 millions unit of this?
That was one of the back of the envelope calculations I made when I decided to invest in bitcoin.



Before trying to give value to Bitcoin in x years, we need to understand what Bitcoin is: digital gold, value reserve, currency, commodity?
Basically it is none of this, and at the same time it is all these things!
If that were the case (and that's what I think), you will not have a $ 7 trillion market, the physical gold market, but we would have a $ 1,000 trillion market, and more.
That was one of the back of the envelope calculations I made to invest in bitcoins.  Wink


My outlook is long term so I am always bullish.  I'm not worried about the next few months or even the next year.  I'm looking a decade in the future.

Me too
https://bitcointalk.to/index.php?topic=4849889.msg43731865#msg43731865
7 months ago I made this post looking at the next decade of Bitcoin, after the 5 halving of about 2028, when 97% of all Bitcoins will be extracted and when there will be only 225 Bitcoin mined and available a day, with the current 1800 .
In 2016 there are 16 million people in the world with assets of over $ 1 million ..... what if even only 5% of these diversify their wallet and want to own even 1 Bitcoin?




▄▄                                  ▄▄
 ███▄                            ▄███
  ██████                      ██████
   ███████                  ███████
    ███████                ███████
     ███████              ███████
      ███████            ███████
       ███████▄▄      ▄▄███████
        ██████████████████████
         ████████████████████
          ██████████████████
           ████████████████
            ██████████████
             ███████████
              █████████
               ███████
                █████
                 ██
                  █
veil|     PRIVACY     
     WITHOUT COMPROMISE.       
▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂
|   NO ICO. NO PREMINE. 
   X16RT GPU Mining. Fair distribution.   
|    The first Zerocoin-based Cryptocurrency   
  WITH ALWAYS-ON PRIVACY.   
|



                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌




   ▄███████
   ████████
   ███▀
   ███
██████████
██████████
   ███
   ███
   ███
   ███
   ███
   ███




             ▄████▄▄   
█▄          ██████████▀
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀




     ▄▄█▀▀ ▄▄▄▄▄▄▄▄ ▀▀█▄▄
   ▐██▄▄██████████████▄▄██▌
   ████████████████████████
  ▐████████████████████████▌
  ███████▀▀▀██████▀▀▀███████
 ▐██████     ████     ██████▌
 ███████     ████     ███████
▐████████▄▄▄██████▄▄▄████████▌
▐████████████████████████████▌
 █████▄▄▀▀▀▀██████▀▀▀▀▄▄█████
  ▀▀██████          ██████▀▀
      ▀▀▀            ▀▀▀
fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
March 31, 2019, 09:58:11 AM
Last edit: April 25, 2019, 05:10:24 PM by fillippone
Merited by suchmoon (9), coinlocket$ (3), JayJuanGee (2), DdmrDdmr (2), vapourminer (1), babo (1), infofront (1), alyssa85 (1), HairyMaclairy (1), duesoldi (1), Piggy (1), micgoossens (1), Toxic2040 (1)
 #44

Previous updates:
January OP
February Update


Halving: BULLISH
Last Month: BULLISH
Time Horizon: Medium

Rationale: Yes, for the third time in a row this is the first reason why I am bullish on Bitcoin. As the reason I have explained in the two last updates are still valid, I will try to add another one inspired by a good Medium post by post from PlanB (Twitter: https://twitter.com/100trillionUSD)



This idea of course it is not new. Saifedean Ammous spend a whole chapter in his book detailing how S/F is a good indicator for sound money in his book The Bitcoin Standard, but the post is well written and detailed, providing us with a nice price prediction I cannot disagree with.
The key message is that ultimately people now investing in "... silver, gold, countries with negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey etc), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of last 10 yrs". That's because Bitcoin will eventually be the ultimate form of hard money available to invest in.


Layer 2 applications - Lightning Network: BULLISH
Last month status: BULLISH
Time Horizon: Long Term

Rationale: This is an “invisible asset” for bitcoin adoption, allowing truly decentralised, trustless, instant payments with ridiculously low fees. This will allow the creation of a whole new industry of payment processors: ending point? Competition with credit cards.
In addition to that every Layer 2 progress allows further developments (layer 3 applications I cannot even think of) and in addition to that strengthens Layer One: the Bitcoin protocol, like a big Jenga game, where every superior layer presses and consolidate lower layers adding robustness and immutability to the protocol itself (immutability of a protocol should be considered a feature, not a bug. Research the DAO disaster for an example).

Comment: network grew scaringly fast last month. Nodes and channels grew in line with past months (+15% MoM and + 30% MoM respectively)  but capacity really exceeded expectations topping 1,050 BTC (a whopping + 45% MoM) committed to the network:



Growth in capacity can be assigned to a single player putting funds in the network with a series of nodes with huge channels. Someone said this is an attack to the LN, some other underlined that this player put funds at risks in the network, so even if decentralisation would suffer, routing was expedited, hence cannot be defined a negative impact for the network itself.
Note also that even if growth in node is meaningful: now The Lightning Network Has More Active Nodes Than XRP, Litecoin, and EOS Combined
Ecosystem growth has been likewise magnificent with many vendors and payment processors jumping on the ship: the following infographic can give you an idea of the current enrolment in LN:



Technology progressed too. This month Lightning Labs, the team behind LND, put LOOP feature in productions. This is a feature allowing more effective channel management allowing users to "loop out" fund from an unbalanced channel without closing them (effectively saving fees)

Of course there is a lot of space for improvements, above all on the usability, that is where new competitors are in town:



Mobile payments with LN are still cumbersome. User experience must be polished out, if we do really want Lightning network to thrive as a payment processor suitable for everyone.
Of course there are obvious implication in terms of privacy in favour of LN over Apple Pay, as outlined by Kyle Torpey's nice read on Foerbes "Why Apple Card Can't Compete With Bitcoin" , but I think privacy is a benefit must be granted to everyone, not only to the tech-savy can manage a BTC full node and LN receipt in the first place.

Resources:
https://bitcoinvisuals.com/lightning
https://graph.lndexplorer.com/
https://1ml.com



Transactions number: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Short Term
 
https://www.blockchain.com/charts/n-transactions-excluding-popular?daysAverageString=7&timespan=2years

Rationale: transaction number can be interpreted as the “bitcoin heart beat”. If transactions are scarce means one of Bitcoin primary functions (“mean of value transfer”) is not properly working. Of course the advent of layer 2 solutions is going to make this measure less and less relevant in the future. But as far as L2 capacity is not comparable to the whole bitcoin capitalisation, transaction number cannot be discarded.


Comment: During last month price has been lackluster, so has been the transaction number. Transaction number is still in the high “recent range” but didn’t maintain the bullish momentum it had last month and actually reverted some of the recent gains. Bullish with a little suspension of disbelief, also it's very difficult to observe high level of hodling (crf. following analysis of Hodl Waves) and high levels of transactions.



Also, Veriblock production chain went live on March 26th. We discovered in last month post that large increase in transaction was due to Veriblock testing their own notarisation processes, now their business is in production we can expect a slow grinding up of their transactions, together with their business development. We'll keep an eye on this.


Bitcoin is working for what it was meant for by Satoshi: BULLISH
Last month status: BULLISH
Time Horizon: Long Term

Last month we analysed the case in Indonesia: volumes exploded on the back of government providing legislative framework to Bitcoin users: volumes exploded, but slowly reverted toward usual levels (even if they still are notably higher than averages).

More interesting is what happened in the South American Scenario: bitcoin as uncensorable store of value in now derailed South American regimens.

Let's have a look at Venezuelan Volumes (I will provide absolute BTC volumes, as volumes in Bolivar are irrelevant due to the explosive inflation in the VES):



We can observe the transaction volume is quite elevated, even if we notice  a few dips in the transaction volumes: this were cause d by extensive blackout all over the country. Surprise! Bitcoin can thrive also on stranded environments, demonstrating quite a lot of resilience on electricity scarcity, when compared to other payments system. I wrote a short post on the subject a few weeks ago. Food for though.

Don't forget that Bitcoin was created in part as a response to the banking crisis of 2008 ("The Times 3 January 2009 Chancellor on brink of second bailout for banks' is engraved forever on the first block) and the next major crisis will be the first during Bitcoin's existence. Already it's happening in Venezuela, Turkey might be the next, or EC, or who knows where de spiralling debt can get the US (they won't default, as Alan Greenspan wittingly pointed out, but that doesn't mean that there won't be consequences).

Anyway if Bitcoin is working as Satoshi intended, or Bitcoin is working as Satoshi didn’t intend, then the common finding is that Bitcoin is working!
 
Source: https://coin.dance/volume/localbitcoins/VES


Unique addresses number is not picking up: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Medium Term

RATIONALE: unique addresses is a loose measure of users in the ecosystem. True, many users could share the same address (like exchange addresses used by many users) or vice-versa each user could have many addresses (think about someone trying to entangle his addresses in order to gain some degrees of privacy).
Addresses numbers are also used in some kind of Bitcoin valuations involving Metcalfe’s law, or a law trying do determine the value of a network, users being the asset of such network.
 
COMMENT: Unique Bitcoin addresses used has shown some sign of bullish momentum during last month, but they are still at levels last associated with much lower prices. We are still below 500,000 and slightly lower than last month, not much.



Source: https://www.blockchain.com/charts/n-unique-addresses?timespan=2years&daysAverageString=7

NVT:BEARISH
Previous month Status: BEARISH
Time Horizon: Medium Term

RATIONALE: Network Value to Transaction (NVT) is defined as the Bitcoin Network Value over the Daily Transaction Volume and be interpreted for Bitcoin in the same way P/E ratio for a stock-market. More insight and details on the interpretation of such signal can be found here:
https://woobull.com/introducing-nvt-ratio-bitcoins-pe-ratio-use-it-to-detect-bubbles/

COMMENT: NTV continued to slide down, but remain far-above the levels that have typically marked price bottoms (NTV Ratio above 40 signals a bottom on the market). As stated last month, we are looking to a repeat of 2015-2018 cycle, where both NTV and volatility were both indicating lower levels, so there’s still a  pressure and space for them to fall lower together.



Realised Cap: BEARISH
Previous Month:BEARISH
Time Horizon: Medium Term

RATIONALE: The realised cap attempts to improve the market cap by valuing different part of the Bitcoin supply at different prices , instead of using the daily close as market cap does: every coin, or more properly every UTXO is valued at the price of their creation. In a less technically correct explanation let’s say that  while Market Cap use the last traded price and multiplies it times by the coins in circulation, Realised Cap computes  the total value paid for each coin at the price they last moved on the blockchain

COMMENT: I do like this indicator not only because improve the market capitalisation, that is a very misleading indicator for crypto currencies, but also because it really grasps the “true hodling value” of Bitcoin. Imagine getting long at 100$, you probably still value your investment at that level. Of course you do MtM, but 100$ is probably a significative level that can be used by other to find significant price levels. I think, but I have to dig into it , that this indicator should be looked coupled with HODL Waves one.


MVRV: BEARISH
Time Horizon: Medium Term

RATIONALE: MVRV (Market Value to Realised Value Ratio) is an indicator was designed by David Puell and Murad Mahmudov and is simply the ratio of Market Cap / Realised Cap. It’s useful for getting a sense of when the exchange traded price is below “fair value” and is also quite useful for spotting market tops and bottoms.



Also this indicator is not so positive, as the relative strength of Market Cap to Realised Cap means the market is becoming more "expensive". We might see new low in the indicators, meaning locals minimum to buy.

Resources:
Realised Cap:
https://coinmetrics.io/realized-capitalization/
MVRV:
https://blog.goodaudience.com/bitcoin-market-value-to-realized-value-mvrv-ratio-3ebc914dbaee


USD Exchange Trade Volume: NEUTRAL
Previous month Status: BEARISH
Time Horizon: Medium Term

https://www.blockchain.com/charts/trade-volume?daysAverageString=7&timespan=2years

RATIONALE: Exchange traded futures are the closest instrument to Bitcoin Wall Street can touch to gain exposure to the cryptocurrency. Provided the price will follow quite closely the Bitcoin price, or what can be observed in the relevant “walled gardens” used to settle the futures, what is interesting for us is the contract volumes, that can give us a few hints of the interest Wall Street has towards the digital gold.

COMMENT: big news in March was CBOT decision to delist future series of their Bitcoin futures. This move was widely expected as CBOT has been lagging behind CME in trading volumes with increasing underperformance in recent months:
 


CBOE Bitcoin futures daily contract trading volumes decreased from a daily average of 8.1 mios USD to 5.6 mios USD in February, while the opposite was noted on CME's, where the same metric increased from 79.9 mios USD in Jan. to 98.9 million USD in Feb. With CME volumes being an order of magnitude bigger than CBOT's made little sense going on quoting such instruments where competitive advantage resides almost entirely in market liquidity and depth.  

I wouldn't read too much in this decision about any lack of institutional interest, but implications are important regarding hopes of a Bitcoin Exchange Traded Product (ETF) diminished slightly as this decision do not to bode well with regulators who already questioned market liquidity: CBOE was set to be the listing exchange for the Vaneck SolidX Bitcoin Trust, who has consequently been delayed yet another time. Also Gemini is suffering, as CBOE was the elected venue to source daily settlement price.




Exchange traded futures still represent a tiny fraction of total futures trading in Bitcoin: futures represent roughly 25% of trading in Bitcoin (75% being spot transactions), and only 5% of this 25% is traded on traditional exchange traded Futures. This data is constant since last month. (decentralised exchanges continue to represent only a tiny fraction of global spot volume, roughly 0.17%).


I think however they are relevant as traditional finance player cannot trade on BitMex or other futures platform. And I think the looming shock on the demand side of bitcoin (shock on the offer ha already been analysed on the halving section) is the firehouse on the liquidity of traditional investment waiting to be open on bitcoin (that’s also why the next step in Futures adoption, Bakkt, is so important).  

Last month's concerns about lack of volatility still hold true, in my opinion.

Cumulate short positions at Bitfinex stay at low levels, after having been punished during this month:



Lack of short positions means either there aren't people looking to sell now, as BTC has likely bottomed up (bullish statement) but also means there's buy order ready to be fired when the down move begins (bearish argument). The choice is yours.  

Of course all of these considerations have to be weighted after the evidences of many exchanges rigging trading volumes, exposed by Bitwise in their very well documented report. More on this report later, but we can say that if 95% of volumes are fake, then the relative weight of futures trading (not being faked) changes dramatically:

.

Second implications of that study is the fact that now yet another time, digital Gold closely resembles physical gold:

.

This is a good sign of hope, and I am changing the sentiment index to Neutral.

CME future
https://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html
CBOE future
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures



Bitwise Report: BULLISH
Time Horizon: Long Term
RATIONALE: if you haven't been sleeping under a stone last month, you know that Bitwise presented a complete report on Bitcoin market status to the FED.
You can find the whole document (229 slides) here.

Rationale: This report is utterly important. First of all clearly demonstrate how many Tier2 exchanges basically rigged their volume statistics to attract investors. The conclusion is that almost 95% of daily Bitcoin Volumes are fake. Exposing the fraudulent techniques of second tier exchanges, the best practice implemented in first tier exchanges emerges: many of the best known exchanges are actually immune from this report, and thus have their reputation tightened.
I said many times exchanges are the weak link in the Bitcoin ecosystem: poor operations, subpar technologies, prone to frauds, scams and every kind of market rigging schemes (pump and dumps, market manipulations etc: basically every illicit operation banned in traditional financial markets since 20 years ago, to say the least).
Every month news report of lost founds, hacked accounts, founder's frauds.
Even to expert users is difficult to tell what is happening:



the first thinking is once a lousy exchange's long term sophisticated scam scheme get spoiled by a report like Bitwise's, you revert to simple, quick run-away-with-the-funds scam, disguised ad KYC lock. (EDIT: eventually everything has been sorted out, so the scam insinuations are not founded, this time).

Second result of this report is doing some sound and clear statements about some major and very well radicated misconceptions about some negatively perceived aspects related to bitcoin: liquidity, transparency, custody issues, revealing the truth is far less worrying than what the regulators or general public perceive.

So, again, every step taken in separating genuine operators from scammers, top quality counterpart from low quality piggy riders, truth from misconceptions, goes in the right direction making Bitcoin more and more viable for general public.

After the first we of this post came out this news:
Crypto Exchange Bithumb Hacked for $13 Million in Suspected Insider Job
Dear Lord, the did it again. They've been hacked in the past, they got hacked again, from an insider (I still cannot decide if it worst to be hacked by outside, or be hacked by someone you deliberately chose to work with): anyway the tale of the story is always the same: don't keep your funds on any exchanges, and be happy when some exchange gets hacked, because it's like a Darwin race to a modern Exchange ecosystem.

HODL Waves: BULLISH
Time Horizon: Long Term

RATIONALE: Bitcoin HODL Waves is a visualisation by Unchained Capital, it shows the cross section of Bitcoin held in wallets grouped by the age since they last moved. The upper contours, represent supply (old coins that have remained unmoved) while the lower contours represent new demand (coins that have recently shifted). The composite view clearly shows each bull cycle bringing in new demand. This visualisation is useful for locating exactly where the market timing is during its long term oscillations between bull and bear phases.
TL,DR: The area Above each line is the amount of "coins" not moved since the relevant time horizon.

COMMENT: Most lines are downward trending (look particularly at 12m brown line). This means coins are being HODLED: coins have been pulled from exchanges (trading activity is mostly off-chain and not relevant for this graph) and kept on wallets. This means strong hands are building a wall for future up-movements.




Additional interesting resources:

A collection of very useful Bitcoin valuation tools
Top Cap and Delta Cap: New Metrics for Spotting Bitcoin Price Trend Reversals
VIDEO: How Lightning Makes Bitcoin Great Again (For Payments) - Alex Bosworth | CoinDesk

I would like to thanks all who contributed to this post, in particular Plutosky and Neo_Coin from the “Bitcoin Pump!” thread on the Italian board for invaluable exchange of ideas and help in keeping track of news, Suchmoon for a few suggestions as well as the whole WO's family for moral support and entertainment.

What are your thoughts?

Pattart
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 500



View Profile
March 31, 2019, 11:10:45 AM
 #45

When the combined growth of the month is calculated, it is completely bullish. We haven't got a big marginal growth, but we have ended the month with a 11% growth from the beginning price point of the month. This has set the market reach around $3900 by now. Possibly this seems to be the initial growth for the small scale price pumping.
I hope this new price change will not be like before, we know that the price has risen to $4100 several times, but then it falls back, maybe because there are too many people selling. I hope the price can break above $4500, it will be a new record this year
BestSSS
Jr. Member
*
Offline Offline

Activity: 434
Merit: 4


View Profile WWW
March 31, 2019, 02:16:39 PM
 #46

Excellent analysis and alignment, nothing more to add.
My opinion is that the bottom we have not yet felt, but for now for the bears, just because we have to go below $ 3000 for bitcoin.
But then we will return to the upward channel again because halving in 2020 will give bitcoin even more growth than in 2017.

♛New CA$H Exchange (https://newc.com.br)♛
✪An Innovative Cryptocurrency Platform✪
carter34
Member
**
Offline Offline

Activity: 532
Merit: 14


View Profile
March 31, 2019, 03:13:06 PM
 #47

I also believe in the analysis Op made and edited for march. I think that we are gradually creeping into bull but I hope it continues this move. We have actually seen much of bottom and price dragging between $3700/$3950, let's have some fresh air  Grin
Toxic2040
Hero Member
*****
Offline Offline

Activity: 644
Merit: 1004



View Profile
March 31, 2019, 04:39:24 PM
Merited by JayJuanGee (1)
 #48

Another most excellent report sir. In depth enough to be engaging but not so technical as to scare away potential new readership. If I could add one small critique that would be that the entire report is homogenized to some extent. Meaning you have no place for a reader to take a small breather between the onslaught of data you are projecting at them.

Even a small break line such as this.

----

Like I try and do over at the Wall gives the reader a sense of completion and that they are moving into a new area of thought.

____

It could be a solid or broken line long or short...or even just(more)space between paragraphs. Also naming each segment or chapter is helpful as well. ymmv.


----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Anyway...I like it. Thanks.

+1 WOsMerit

fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
March 31, 2019, 05:05:55 PM
 #49

Another most excellent report sir. In depth enough to be engaging but not so technical as to scare away potential new readership. If I could add one small critique that would be that the entire report is homogenized to some extent. Meaning you have no place for a reader to take a small breather between the onslaught of data you are projecting at them.

Even a small break line such as this.

----

Like I try and do over at the Wall gives the reader a sense of completion and that they are moving into a new area of thought.

____

It could be a solid or broken line long or short...or even just(more)space between paragraphs. Also naming each segment or chapter is helpful as well. ymmv.


----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Anyway...I like it. Thanks.

+1 WOsMerit



Duly noted. I’ll figure out something for next month.

Odonko
Member
**
Offline Offline

Activity: 197
Merit: 10


View Profile
March 31, 2019, 08:40:10 PM
 #50

In summary to all your explanations I think we are heading in a bullish season and I base my arguments on the constant reduction of bitcoin and also with the upcoming bitcoin halving that would take place in May 2020. I strongly believe bitcoin will see a rise in the nearest future and we can achieve an all time high again. Bearish and Bullish seasons are cyclical and I think we have been in the bearish season for a while now, time to see bitcoin bull run.

────────── ZipCoin For Everyone ───── ZIPCOIN ───── Trading & Remittance. ──────────
THE TRUE PEER to PEER (P2P) TRADING AND REMITTANCE PLATFORM of THE FUTURE
Token Sale: Get 20% Extra Zipcoin Token Whitepaper Telegram TwitterFacebookInstagramLinkedinRedditYoutube ┃ [/center]
babo
Legendary
*
Offline Offline

Activity: 1820
Merit: 1156



View Profile WWW
April 01, 2019, 09:32:42 AM
 #51

@fillippone

great analysis Smiley i dont understand all graphs or all numbers, but is precius work anyway

......
.L I V E C O I N . N E T.
.
..PROFITBOX..
██  █████████████████████████
  █████████▄      ▄██████████
█████████████▄  ▄████████████
    █████████████████████████
  ██████████▀    ▀█ ▀████████
████  █████▀  ▄▄  ▀█  ▀██████
  ████████▀  ▄██▄  ▀█   ▀████
    ██████   ▀██▀   ██   ████
  █████████▄      ▄██████████
██  █████████▄  ▄████████████
  ███████████████████████████
██  █████████████████████████
  █████████████████████▀ ███
█████████████████████▀   ███
    █████████████▀     ████
  █████████████▀   ██    ████
████  █████▀     ██    ████
  ███████▀   ██    ██    ████
    █████    ██    ██    ████
  ███████    ██    ██    ████
██  █████    ██    ██    ████
  ███████████████████████████
.....
fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
April 30, 2019, 07:27:29 PM
Last edit: May 06, 2019, 09:03:25 AM by fillippone
Merited by coinlocket$ (5), vapourminer (1), alyssa85 (1), mindrust (1), Last of the V8s (1), kronos123 (1), Piggy (1), Toxic2040 (1)
 #52

    Previous updates:
January OP
February Update
March Update



Halving: BULLISH
Last Month: BULLISH
Time Horizon: Medium

Rationale: Yes, for the third fourth time in a row this is the first reason why I am bullish on Bitcoin.
This month I am again twisting the stock to flow rationale with yet another great tweet by PlanB (Twitter: https://twitter.com/100trillionUSD)




Quote
stock-to-flow model is a power law (BTC$ = 0.4*SF^3).
This means SF change vs BTC$ change is constant: SF 2x = BTC$ 8x .. all the way from $0.01 to $10,000 .. and possibly to $100k and $1mln etc




This model has worked since 2009 and accurately predicted bitcoin value using only data from 2009-2012 (note, even before the first halving!), and is of course pointing to a theoretical "fair" value. Deviation from this value can be quite massive, due to "irrational" market swings, but here you get the picture (pun intended):




And yes, I do like Plan B a lot, you'll hear more from him in the future.



Layer 2 applications - Lightning Network: BULLISH
Last month status: BULLISH
Time Horizon: Long Term

Rationale: This is an “invisible asset” for bitcoin adoption, allowing truly decentralised, trustless, instant payments with ridiculously low fees. This will allow the creation of a whole new industry of payment processors: ending point? Competition with credit cards.
In addition to that every Layer 2 progress allows further developments (layer 3 applications I cannot even think of) and in addition to that strengthens Layer One: the Bitcoin protocol, like a big Jenga game, where every superior layer presses and consolidate lower layers adding robustness and immutability to the protocol itself (immutability of a protocol should be considered a feature, not a bug. Research the DAO disaster for an example).

Comment: Suddenly, Lightning Network halted his massive growth last month. All metrics are almost unchanged MoM, almost a first after months of exponential growth. This flatness is quite unusual.



here you have the LN network capacity trend over the last 6 months: flat at the top!



is this worrying? I think it is not, as capacity is of course an important parameter, but not the only one to focus on. Regarding LN I spoke last month about usability, and for sure one big step ahead toward wider adoption has been done this month with the first complete LN desktop application by Lightning Labs, one of the team implementing LN protocols, providing users with a simplified and effective environment to operate their LN node.

On  a separate note HodlHodl, a P2P exchange, declared it's going to accept Lightning payments enabling users to buy and sell BTC directly from their LN Wallets.

On a broader view we have to remember that LN is only the first experiment of Layer 2 protocol: not only once you have built the L2 this paves the way to L3 or even L4 we cannot even think about, but also other L2 applications are possible, with all the subsequent permutation made available:

On this topic i can suggest you to read a good medium article: Lightning is Only the Beginning: The Emerging Bitcoin Stack



Important corollary: the more layers you build on the BTC protocol, the more you “compress” it and the more you get it immutable: protocol immutability is a feature, not a bug. This is the Jenga principle firstly stated by  @giacomozucco.




Transactions number: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Short Term
 
https://www.blockchain.com/charts/n-transactions-excluding-popular?daysAverageString=7&timespan=2years

Rationale: transaction number can be interpreted as the “bitcoin heart beat”. If transactions are scarce means one of Bitcoin primary functions (“mean of value transfer”) is not properly working. Of course the advent of layer 2 solutions is going to make this measure less and less relevant in the future. But as far as L2 capacity is not comparable to the whole bitcoin capitalisation, transaction number cannot be discarded.

Comment: During last month price has been moving right, so has been the transaction number. Transaction number is in the high “recent range” and on various days broke the 400k daily confirmed transactions, the highest levels since November 2017.



Notably something moved also in the mempool, where there were some kind of actions after months of empty mempool.

Two phenomenon are to highlight on this number of transaction.
First is the impact of launch of Veribock, we have been talking in the past months'report: they are using (spamming, according to some less benevolent interpretation) Bitcoin network for their own purposes, but the impact, hasn't been analytically determined recently, so claim of 30% transaction claim are unfounded, albeit made by well known Bitcoin Maximalists.
Second is a slight improvement in transactions due to the increased popularity of Coinjoins. This is an interesting trend, that can be analysed in this nice report: CoinJoins as a Percentage of All Bitcoin Payments Have Tripled to 4.09% Over the Past Year

Tipping to bullish?





Bitcoin is working for what it was meant for by Satoshi: BULLISH
Last month status: BULLISH
Time Horizon: Long Term

Last month we analysed the case in Indonesia: volumes exploded on the back of government providing legislative framework to Bitcoin users: volumes exploded, but slowly reverted toward usual levels (even if they still are notably higher than averages).

More interesting is what happened in the South American Scenario: bitcoin as uncensorable store of value in now derailed South American regimens.

Let's have a look at Argentinian Volumes (BTC volumes, as volumes in ARS are irrelevant due to the explosive inflation):



We can observe the transaction volume is somewhat elevated, and people keep buying Bitcoins to preserve value in an high inflation environment.

Well, but Argentina is a borderline defaulted country: we live in first world, inflation immune countries aren't we? Well, brace yourself:


IMF's Lagarde Laments "Highly Mysterious" Low Inflation, Says "Everybody" Would Like It To Be Higher

Anyway if Bitcoin is working as Satoshi intended, or Bitcoin is working as Satoshi didn’t intend, then the common finding is that Bitcoin is working!




Unique addresses number is not picking up: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Medium Term

RATIONALE: unique addresses is a loose measure of users in the ecosystem. True, many users could share the same address (like exchange addresses used by many users) or vice-versa each user could have many addresses (think about someone trying to entangle his addresses in order to gain some degrees of privacy).
Addresses numbers are also used in some kind of Bitcoin valuations involving Metcalfe’s law, or a law trying do determine the value of a network, users being the asset of such network.
 
COMMENT: Unique Bitcoin addresses moved sideways during last month, but they are still at levels last associated with much lower prices. We are still around 500,000 and slightly lower than last month, not much. Thinking of deleting this indicator next month if anything materialise.




Source: https://www.blockchain.com/charts/n-unique-addresses?timespan=2years&daysAverageString=7




NVT:BEARISH
Previous month Status: BEARISH
Time Horizon: Medium Term

RATIONALE: Network Value to Transaction (NVT) is defined as the Bitcoin Network Value over the Daily Transaction Volume and be interpreted for Bitcoin in the same way P/E ratio for a stock-market. More insight and details on the interpretation of such signal can be found in the resource links at the end of the post.


COMMENT: NTV continued to slide down, but remain far-above the levels that have typically marked price bottoms (NTV Ratio above 40 signals a bottom on the market). As stated last month, we are looking to a repeat of 2015-2018 cycle, and the ratio graph reported below outlines again striking resemblances at fractal levels: the blip in the quicker NTVR 140 cannot rule out another downward leg to 4K.







Realised Cap: NEUTRAL
Previous Month:BEARISH
Time Horizon: Medium Term

RATIONALE: The realised cap attempts to improve the market cap by valuing different part of the Bitcoin supply at different prices , instead of using the daily close as market cap does: every coin, or more properly every UTXO is valued at the price of their creation. In a less technically correct explanation let’s say that  while Market Cap use the last traded price and multiplies it times by the coins in circulation, Realised Cap computes  the total value paid for each coin at the price they last moved on the blockchain .You can look at this indicator as an improvement to the market capitalisation, a very misleading indicator for crypto currencies, trying to capture the “true hodling value” of Bitcoin.




COMMENT: During last month, price suddenly moved above realised cap, that is still pointing south. If crossing a mean is a positive sign, then crossing realised cap cannot be negative. Slight upgrade to neutral.





MVRV: NEUTRAL
Previous month: BEARISH
Time Horizon: Medium Term

RATIONALE: MVRV (Market Value to Realised Value Ratio) is an indicator was designed by David Puell and Murad Mahmudov and is simply the ratio of Market Cap / Realised Cap. It’s useful for getting a sense of when the exchange traded price is below “fair value” and is also quite useful for spotting market tops and bottoms.



COMMENT: Market price movement last month, made this indicator snapping back to mean levels above 1 (undervaluation threshold) back to 1.25, so bearishness has been removed. Little tilting to the upside also here.




USD Exchange Trade Volume: NEUTRAL
Previous month Status: BEARISH
Time Horizon: Medium Term

https://www.blockchain.com/charts/trade-volume?daysAverageString=7&timespan=2years

RATIONALE: Exchange traded futures are the closest instrument to Bitcoin Wall Street can touch to gain exposure to the cryptocurrency. Provided the price will follow quite closely the Bitcoin price, or what can be observed in the relevant “walled gardens” used to settle the futures, what is interesting for us is the contract volumes, that can give us a few hints of the interest Wall Street has towards the digital gold.

COMMENT: Exchange traded volumes took a pause after last month increase returning to more usual levels:
 


Spot volumes increased sharply 47%, from 220 billion USD in February to 325 billion USD in march.
Meanwhile, futures volumes from bitFlyer Lighting and BitMEX combined around the 50 billions mark similarly to the previous month.
These volumes should be reliable and not impacted by fake figures.



CME’s bitcoin futures product volumes decreased from 98.9 million USD to 70.5 million USD (-29%) in March. Meanwhile, CBOE’s bitcoin futures volume decreased from 5.6 million USD to 4.7 million USD (15.9%) as they have chosen to cease listing additional bitcoin futures
products in the near future.
Grayscale’s bitcoin trust product (GBTC), which is traded on the OTC markets also decreased in terms of average trading volume in March to 8.76 million USD.






Exchange traded futures still represent a tiny fraction of total futures trading in Bitcoin: futures represent roughly 25% of trading in Bitcoin (75% being spot transactions), and only 5% of this 25% is traded on traditional exchange traded Futures. This data is constant since last month.

DEXs represent only a small fraction of global spot exchange volume (0.14%, without a clear trend over last months), trading a
monthly total of 447 million USD in March.

An important limit is that on these exchanges it's not possible to trade stablecoins, that represent the 80% of spot volumes:



I would expect a brilliant future for DEx's, but this requires few technological advances to get traction on liquidity, necessary to have a positive reinforcement in traded volumes, a condition necessary for this kind of exchange to thrive. It's important to note that also traditional exchanges see the DEX's not as competitors, but another way to increase revenues: Binance Launches Decentralized Exchange Ahead of Schedule, or the aforementioned news of HodlHodl accepting Lightning payments.


Cumulate short positions at Bitfinex shoot on the upside: those guys want to get rekkt.



I have no evidences, but I feel this increase being related to the Tether FUD, but I strongly disagree with that trading logic: or you get the trading timing exactly right or it is recipe for disaster.





Bitwise Report Exchange Scrutiny: BULLISH
Time Horizon: Long Term
Previous month Status: BULLISH
Rationale: exchanges are the weak link in the Bitcoin ecosystem: poor operations, subpar technologies, prone to frauds, scams and every kind of market rigging schemes (pump and dumps, market manipulations etc: basically every illicit operation banned in traditional financial markets since 20 years ago, to say the least). Every month news report of lost founds, hacked accounts, founder's frauds. Every news is a Darwin's push for the Bitcoin ecosystem toward a more efficient functioning.

As I expected, Bitwise report started a flurry scrutiny about Exchanges volumes and procedures.
Some exchanges, like TRT, demonstrated good practices, other failed.
There was a lot of new websites trying to "clean" rigged Volumes statistics presented from CMC (that also took some steps towards accurately reporting volumes.

A few example of such sites are:

Bitfinex/Tether underlying issue was not they were printing money, that was FUD, or easy reading of the situation.  The point is that their operations had to resort to questionable fiat payment processors. This has been a problem for Bitcoin companies since a long time. And as usual this also demonstrate why personal financial sovereignty matters: CB or regulators can build trenches around bitcoin operators cutting their access to interchange with FIAT money system. With decentralised, or non-custodial, exchanges or with hyperbitcoinisation this problem is going to matter less and less, but of course it is relevant in the meantime. Exchange should do something in providing more transparency on their asset holding, maybe via a cryptographically proving their solvency as suggested by Caitling Long





https://bitcoinexchangeguide.com/cryptocapital-co-may-be-cryptos-black-swan/




HODL Waves: BULLISH
Time Horizon: Long Term
Previous month Status: BULLISH

RATIONALE: Bitcoin HODL Waves is a visualisation by Unchained Capital, it shows the cross section of Bitcoin held in wallets grouped by the age since they last moved. The upper contours, represent supply (old coins that have remained unmoved) while the lower contours represent new demand (coins that have recently shifted). The composite view clearly shows each bull cycle bringing in new demand. This visualisation is useful for locating exactly where the market timing is during its long term oscillations between bull and bear phases.
TL,DR: The area Above each line is the amount of "coins" not moved since the relevant time horizon.

COMMENT: The chart looks almost identical to last month's with all lines pointing south: this means that recent price movement, or news (I am thinking about the Bitfinex one, above all) didn't impact HODLING schemes too much. We are still HODLIng strong!







A few interesting reports:


Bitcoin Models reference list:





Bonus Section:
BEST Tweet of the month:

howmanyconfs.com


howmanyconfs.com
How many confirmations are equivalent to 6 Bitcoin confirmations?

If for some strange reason the catchphrase "thermodynamic security" might not be immediately clear to you, all the detailed calculations can be found here



I would like to thanks all who contributed to this post, in particular the guys in the “Bitcoin Pump!” thread on the Italian board for invaluable exchange of ideas and help in keeping track of news, for a few suggestions as well as the whole WO's family for moral support and entertainment.

What are your thoughts?
Time to update the format a little bit?
[/list]

alyssa85
Legendary
*
Offline Offline

Activity: 1484
Merit: 1059


View Profile
April 30, 2019, 08:17:18 PM
 #53



Transactions number: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Short Term
 
https://www.blockchain.com/charts/n-transactions-excluding-popular?daysAverageString=7&timespan=2years

Rationale: transaction number can be interpreted as the “bitcoin heart beat”. If transactions are scarce means one of Bitcoin primary functions (“mean of value transfer”) is not properly working. Of course the advent of layer 2 solutions is going to make this measure less and less relevant in the future. But as far as L2 capacity is not comparable to the whole bitcoin capitalisation, transaction number cannot be discarded.


The reason transactions are not picking up (when you take out the orgs that are using the network to test/spam) is because in the Dec 2017 - Feb 2018 period, when fees spiked, bitcoin lost some users permanently.

Some of the remittance operators switched to Stellar Lumens/Bitshares/Dash as they were more reliable. It was either do that or wind up their business because none of their users could afford $1000 fees.

Lots of the altcoin mining pools switched to paying by Litecoin or Ethereum. Lots or ordinary users switched to moving stuff from exchange to exchange via an alt (litecoin, Ether, BCH or doge).

Once these people switch to another method of moving money, they never switch back. Instead they stick with the new method for as long as it continues to works.

When fees spiked again at the start of April 2019, we had a new batch of people switching to alts to move money.

Basically everytime the fees spike a new group of people are alienated and their transactions move onto a different chain for good. Eventually this will happen once too often and an alt will become the primary way of moving things. Lots of people already use ethereum, litecoin, doge and BCH in that way.

fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
April 30, 2019, 09:27:08 PM
 #54



Transactions number: NEUTRAL
Last month status: NEUTRAL
Time Horizon: Short Term
 
https://www.blockchain.com/charts/n-transactions-excluding-popular?daysAverageString=7&timespan=2years

Rationale: transaction number can be interpreted as the “bitcoin heart beat”. If transactions are scarce means one of Bitcoin primary functions (“mean of value transfer”) is not properly working. Of course the advent of layer 2 solutions is going to make this measure less and less relevant in the future. But as far as L2 capacity is not comparable to the whole bitcoin capitalisation, transaction number cannot be discarded.


The reason transactions are not picking up (when you take out the orgs that are using the network to test/spam) is because in the Dec 2017 - Feb 2018 period, when fees spiked, bitcoin lost some users permanently.

Some of the remittance operators switched to Stellar Lumens/Bitshares/Dash as they were more reliable. It was either do that or wind up their business because none of their users could afford $1000 fees.

Lots of the altcoin mining pools switched to paying by Litecoin or Ethereum. Lots or ordinary users switched to moving stuff from exchange to exchange via an alt (litecoin, Ether, BCH or doge).

Once these people switch to another method of moving money, they never switch back. Instead they stick with the new method for as long as it continues to works.

When fees spiked again at the start of April 2019, we had a new batch of people switching to alts to move money.

Basically everytime the fees spike a new group of people are alienated and their transactions move onto a different chain for good. Eventually this will happen once too often and an alt will become the primary way of moving things. Lots of people already use ethereum, litecoin, doge and BCH in that way.

Your point is interesting.
All those operators should take care when switching to alts to transfer value reason is in the BONUS section of my post.
Fees are not a bug, but the price to have an uncensorable transactions. Other alt offer cheaper fees, but at a cost of very limited security.

alyssa85
Legendary
*
Offline Offline

Activity: 1484
Merit: 1059


View Profile
April 30, 2019, 09:58:49 PM
 #55



Your point is interesting.
All those operators should take care when switching to alts to transfer value reason is in the BONUS section of my post.
Fees are not a bug, but the price to have an uncensorable transactions. Other alt offer cheaper fees, but at a cost of very limited security.


Your bonus section refers to Bitcoin's forks, which I agree are not very good - but they're not bitcoin's primary competition.

Unique alts like Ethereum, Dash and others are the main competition.

There was a video circulating like mad on reddit of someone from Venezuela purchasing food with crypto:

https://old.reddit.com/r/Bitcoin/comments/bi9hdg/what_crypto_looks_like_to_people_who_needs_it_the/

2760 upvotes because people were excited about ADOPTION.

But when you view the video the Venezuelan was using Ethereum. Adoption is not happening with bitcoin, it's happening with Ether. That's why the Ether transaction count is so high.

Run your analysis again, but this time comparing each point with Ether to see which coin is outperforming.

BTW, I don't own any Ether, but am thinking of buying now the price is reasonable.

fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
April 30, 2019, 10:28:38 PM
 #56



Your point is interesting.
All those operators should take care when switching to alts to transfer value reason is in the BONUS section of my post.
Fees are not a bug, but the price to have an uncensorable transactions. Other alt offer cheaper fees, but at a cost of very limited security.


Your bonus section refers to Bitcoin's forks, which I agree are not very good - but they're not bitcoin's primary competition.

Unique alts like Ethereum, Dash and others are the main competition.

There was a video circulating like mad on reddit of someone from Venezuela purchasing food with crypto:

https://old.reddit.com/r/Bitcoin/comments/bi9hdg/what_crypto_looks_like_to_people_who_needs_it_the/

2760 upvotes because people were excited about ADOPTION.

But when you view the video the Venezuelan was using Ethereum. Adoption is not happening with bitcoin, it's happening with Ether. That's why the Ether transaction count is so high.

Run your analysis again, but this time comparing each point with Ether to see which coin is outperforming.

BTW, I don't own any Ether, but am thinking of buying now the price is reasonable.

If you follow the link you’ll see also ETH and all major alts are considered.

Ressurection
Copper Member
Newbie
*
Offline Offline

Activity: 54
Merit: 0

A Blockchain Mobile Operator With Token Rewards


View Profile
May 01, 2019, 06:01:08 AM
 #57

Well believe we are pointing more in the bullish direction especially with the upcoming bitcoin halving which would reduce the block rewards hence the daily amount of bitcoin being generated daily. This would definitely bring about an increase in price and also the further development of ligtining network which seeks to increase the transaction speed of bitcoin.

All these factors to me are pointing in the right direction of a bull run soon. For those who think we are still going to hit the bottom, they should just watch bitcoin rise in no time. Holding some bitcoins at the moment and waiting for the bull market at any point in time.

△ M!R△CLE TELE   ▌  BRINGING MAGIC TO THE TELECOM INDUSTRY  ▐   JOIN US NOW!
▐▐   40% Biweekly Rewards     ▬▬▬   Calls at €0.2   ▬▬▬     Traffic from €0.01 worldwide   ▌▌
▬▬▬▬▬▬   ANN  Lightpaper  Bounty  Facebook  Twitter  Telegram   ▬▬▬▬▬▬
playboy654
Member
**
Offline Offline

Activity: 476
Merit: 28

★Bitvest.io★ Play Plinko or Invest!


View Profile
May 01, 2019, 03:18:32 PM
 #58

For me the bearish market company to happen because we all know the increment will not been happened till now and we cannot be any type of income through this development so I need to wait for sometime for getting good development then only I say the bull market will come.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
mersal
Member
**
Online Online

Activity: 490
Merit: 14

★Bitvest.io★ Play Plinko or Invest!


View Profile
May 01, 2019, 04:40:17 PM
 #59

I do not sure about this because in my mind lots of confusion still going on and I don't have the hundred percent result of improvement when I see in the current situation of your market the solution will come only through the changes happening so I am waiting to see the changes then only decision made by me will be clear.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
fillippone
Sr. Member
****
Offline Offline

Activity: 378
Merit: 538


Self Made Hero Member + merit -activity


View Profile
May 01, 2019, 04:45:44 PM
 #60

^^^^ x2 Boy, I hate signature campaigns.

Pages: « 1 2 [3] 4 5 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!