On Friday, April 20th the mining operation Antpool explained that the public may have recently noticed a fraction of bitcoin cash being sent to an unspendable address every time Antpool mines a block. Antpool says that it is burning the funds sent to the “black hole address” voluntarily for the good of the BCH economy.
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Essentially large companies would adopt Bitcoin on the condition that enough consumers would be willing to purchase their goods with it. Chances are you may have never contacted a company to confirm if they will accept BTC as payment prior to making a purchase. You may have never even made a purchase with BTC unless it was for other crypto. This needs to change, I recently contact a mattress company to confirm if they would accept BTC as payment in which they responded with a simple “No”….
Bitcoin is under heavy surveillance on Bali, an island in the Indonesian archipelago, according to local reports. Central Bank officials are seeking to crack down on the use of the cryptocurrency anywhere in the nation. Causa Iman Karana, head of Bank Indonesia's representative office in Bali said:.
Google Alert – bitcoin
If you peruse the various subreddits on the subject of crypto you'll see incredible frustration among the various communities behind other coins. Faster transactions, more transactions, larger blocks, faster blocks, turing completeness, confidential transactions – yet the price of bitcoin keeps going up without these.
Because bitcoin, at this stage in history, isn't about any of those things. Bitcoin is a system that can be used to reliably store value at no cost. Scarcity and security are the keys to value and you don't need any of those other features. And nobody has suggested any way at all to improve on these features of bitcoin.
So bitcoin keeps on winning on value and becomes the fastest growing way to store value. And of course, its value skyrockets as more value is crammed into it.
When the time comes to go from savings to spending, the competitive landscape will be very different. But you can't spend what you haven't earned and saved, and all of today's alternatives to bitcoin will have failed at earning the position of a savings vehicle.
submitted by /u/logical