According to bitcoin.com12 reported on 12 may, Delphi Digital released a report entitled “bitcoin status report”, the 59 page report bitcoin is studied, ranging from bitcoin payment to the first token issue (ICO), and then to gold in the rolling stock, income comparison etc.. The report is a lot of interesting data that bitcoin is the continuous development and popularity.
Two major factors supporting the long-term existence value
This year, the market downturn, many people have questioned the existence value of bitcoin. The report pointed out that the Property Investment Companies Delphi Digital released encryption:
“At present, compared with the more difficult to understand, bitcoin is more likely to be ignored. But we believe that the long-term value of bitcoin is driven by 2 factors: 1, it is a kind of anti censorship store of value; 2, which is a national behavior independent digital currency.”
Delphi Digital pays special attention to bitcoin in most in need of it (the largest countries affected by inflation in Argentina and Venezuela) development. In both countries, as well as the world’s “unbanked” in most areas (mainly in Africa), encrypted currency has great potential. The report summarizes the three main factors in these countries by BTC:
1, instead of the local currency suffered hyperinflation; 2, to allow citizens to directly hold their wealth, rather than give it to the local bank; 3, improve the transfer speed, reduce the transfer fee.
For example, the average cost between South Africa and Botswana $200 remittance of $36, if done by bitcoin, the fee will be much lower. But more than that in the BTC case, the report said:
“In the past, when high inflation countries, in addition to the people watched their savings evaporate overnight in outside, almost incapable of action. But now, any access to the Internet can be converted into bitcoins, which influence from local currency risk.”
UTXO analysis concluded that BTC will be in 2019 years Q1 in the bottom
For bitcoin is currently experiencing the market cycle, UTXO (not cost transaction output) statistics can provide relevant clues, can indicate what is going to happen.
In the following figure, Delphi Digital with a green line representing at least one year history of the UTXO, which is more than a year without the use of coins. As part of the BTC of the whole UTXO system, the percentage of one year history of at least UTXO monitor can display, bitcoin holders will start again when they transfer bitcoin, whether sold, the transaction or the purchase of goods and services. The report says:
“In the second half of 2018, 1 years and 1-2 years as UTXO UTXO began to show positive growth trend, but the change of UTXO years more little. We believe that now is experiencing the process of accumulation of a similar and half of 2014.”
Black said the logarithmic scale of BTC price, the green line is at least not bitcoin UTXO percentage, using the year photograph: bitcoin.com.
For those who want to look for signs of market recovery is a key aspect of this report is to make inference based on UTXO analysis:
“Bitcoin may face additional selling pressure in the near future, but according to the dynamic analysis of depression before the boom & holder cycle, we believe that prices will hit bottom in the first quarter of 2019.”
Continue to expand the scope of beneficiaries
Bitcoin the beauty of it is that for many people, it can be used to do a lot of things. Bitcoin can not only provide a safe haven for people suffering from hyperinflation area, for the government, the central bank called 1% people, it is also of great value. The report said:
“After a period of development, when the bitcoin has become a mature way to store value, central banks need to hold a small part of the bitcoin in foreign exchange reserves, as the supplement of gold.”
Although this is just speculation, but it is undeniable that bitcoin with any previous monetary system are not the same. Even in the white paper published 10 years later, there are still bitcoin application scenarios are Everfount was found.