TL;DR: “We’re calling it – Bitcoin BTC finally died in Australia,” came the conclusion from regional crypto merchant enthusiasts in a recent report. “The combination of a national lockdown combined with an amazing ascendancy of Bitcoin Cash in the retail space has finally caused BTC to succumb. BTC recorded just three-physical-store-trades across the nation in April. Three.”
April in Australia Proves Deadly for BTC Retail Usage
BitcoinBCH.com began issuing retail monthly snapshots shortly after organizing the first cryptocurrency conference of its kind in Australia. And in September of 2019, exactly that happened. The Bitcoin Cash City Conference (BCCC) offered respite from the usual gathering modus operandi of initial coin offering shills and promises of Lambo moon dreams.
The BCCC, of course, offered tickets in bitcoin cash (BCH), but also extended the peer-to-peer electronic cash ethos of relying on crypto entirely: air, domestic travel, accommodations, entertainment, restaurants. So it was little wonder when BitcoinBCH.com published its first report shortly after the conference retail usage numbers were grand. Have a popular conference and the stats would surely be goosed — and that’s what critics immediately charged. Show us charts after the BCCC, they sneered.
BitcoinBCH.com CEO Hayden Otto and his group have done exactly that ever since, and even a month after BCCC festivities were long over, BCH usage remained promising. On it continued, according to periodic statements to the present, with the group noting how its “series of reports examine exclusively physical merchant adoption performance of Bitcoin BCH relative to other coins in order to illuminate progress in achieving the Bitcoin BCH mission of becoming the first electronic cash system for the world. If your coin is not gaining merchants, it is not even a contender for a global electronic cash system.”
It’s arguable if the Commonwealth of Australia is a barometer of substantive crypto retail adoption, but it cannot be ignored or dismissed … if BitcoinBCH.com is to be believed. Surely BCH has a long way to go entice all 25 million Aussies in some manner. However, in North Queensland tourist areas, bitcoin cash has a real chance. Characteristically, Otto’s take is more on the wave of April’s report, stressing, “Bitcoin Cash (BCH) is the cryptocurrency of Australia. Bitcoin Cash stores accounted for almost every cryptocurrency transaction across the nation in April. And like the month before, new BCH stores are being added, new BCH members are being onboarded, and new ways are being found to apply the clever Bitcoin Cash payment tech. In a word, Bitcoin Cash has substance.”
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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.