Wenatchee is home to a dozen of the largest bitcoin miners, becoming something of an epicentre. It appears a steady stream of investors are discovering the town as an optimum place to mine. Steve Wright, the head of the local power utility, says that another 75 have inquired about coming to the town: The value of all the gold in the world is estimated at over $6 trillion and essentially no one uses it for payments. Of course, not all of that value comes from gold’s use as a store of value, as it also has other uses. On the other hand, bitcoin just passed the $20 billion total valuation mark last week. Over the last 11 weeks, Binance’s Crypto Against Covid campaign has been live and now the platform has revealed the results. The campaign, which is one of the many charitable ventures from the exchange platform, has aimed to combat the spread of the virus in hard-hit nations the world over. Most recently, this saw them launch a campaign specifically focused on helping the outbreak in Japan. The Binance exchange, which stores Bitcoin and other crypto-currencies for members, said hackers took 7,000 bitcoins in one go. Withdrawals have now been suspended on the platform. "We beg for ... At the epicentre of it, lies the controversy around the flexible supply design and release of Ethereum 2.0. As recently reported on CoinGape, the debate around the flexible supply of Ether [ETH] without a definite inflation rate is making investors and critics wary. Nevertheless, Vitalik and Ethereum Foundation continue to protect their stand on having an upper cap to the generation limit. But Binance, for example, charges $200,000 on average to list a new coin. Asked on the Unchained podcast about its price to list, Binance founder Changpeng Zhao said it was good value for the coins. Demand for bitcoin is surging in Ghana, Nigeria and Kenya, attracting investment from the cryptocurrency exchange Binance and a token project by Akon. The internet is the epicentre of social change, and it only makes sense that activists are now adding bitcoin to their arsenal. During the recent #EndSARS Nigerian campaign, young feminists raised $55,000 in cash and bitcoin donations, which is an example of how activists can use bitcoin to raise funds. Bitcoin has had a remarkable 12 months, surging by nearly 1,200 percent from this time last year. In December 2017, a single bitcoin was worth an eye-watering $20,000 (£14,000). The cryptocurrency attracted a loyal community that started using bitcoin as a store of value because of its scarcity, safe-haven characteristics, and the fact that it is impossible to counterfeit. As a result, many people are holding bitcoin as a long-term investment because they believe in its long-term value. Moreover, the population of bitcoin supporters is continuously growing.
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