Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Community celebrates Bitcoin Genesis Day by sending BTC to the genesis block
The wallet address now contains around 68.56 BTC, which is worth around $1.1 million at the time of writing.
News link: https://cointelegraph.com/news/community-celebrates-bitcoin-genesis-day-by-sending-btc-to-the-genesis-block
Hopefully adding Bitcoin with somethink new...
The wallet address now contains around 68.56 BTC, which is worth around $1.1 million at the time of writing.
News link: https://cointelegraph.com/news/community-celebrates-bitcoin-genesis-day-by-sending-btc-to-the-genesis-block
Hopefully adding Bitcoin with somethink new...
Well from my understanding sending BTC to the Genesis block is like burning your BTC - accordingly, by design, coins in the genesis block can never be spent.
The bitcoin genesis block is the ONLY block that had been created in such a "never can be spent" way.
Yeah until the developers decide to take the coins out and use them to reward miners in say 2056
If this ever happens, it will be the end of Bitcoin.
Why ? I would argue bitcoin is heading towards a major fail due to rapid 4 year ½ 's vs 8 year ones. Anything to stretch cycles benefits BTC.
doing nothing makes doge look better in 2056 or 2076 than BTC.
I will be 99 to 119 in that timeframe it does not matter too much to me. But the 4 year cycle time will cause abandonment issues in under 53 years ie 2076. and ltc/doge looks like the natural replacement.
BTW
BTC now has LN which has nothing to do with BTC but developers added it.
BTC also 2x its block size and will possibly go 16x its current size down the road.