Insiders say they think ethereum is a better investment than bitcoin
When it comes to cryptocurrency investments, there’s plenty of room for debate over which digital currency is the best bet. But for one group of investors, the choice is clear: According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet. Foley and Lardner surveyed a mix of investors and business executives about trends relating to cryptocurrencies. Among the questions they asked was which digital currency they believed to be the best investment opportunity. The most popular pick? Ethereum, the three-year-old blockchain technology that’s been largely used as […]
Should The Reserve Bank of Australia Issue a Digital Currency?
During a recent Australian Business Economists forum, the Head of Payments Policy Department for the Reserve Bank of Australia, Tony Richards, had a lot to share on cryptocurrencies and distributed ledger technology in the Reserve Bank’s perspective. Of particular interest was whether the bank might consider issuing a digital version of the Australian Dollar. According to Richards, Bitcoin and many other cryptocurrencies were largely impressive and admirable, but flaws in their design coupled with limited usage within Australia made them unnecessary and hence there was no need for the bank to issue a new digital version of the Australian Dollar. The Bank’s Approach To Cryptocurrencies Australia can boast of having […]
Australia’s plans to embrace cryptocurrencies through progressive laws
When cryptocurrencies were designed, the idea of the government or its financial institutions meddling into the affairs of the digital currency were not envisioned. Indeed, cryptocurrencies like Bitcoin were designed to give users the freedom to transact without central regulation. It was probably not anticipated that these currencies would gain so much interest around the world. But since that has happened, the regulatory authorities have found it hard to stay away from the cryptos. Recent news has indicated that governments around the world are keen on easing the tension between the traditional perception institutions have had on cryptocurrencies. Some of the issues that are at the fore currently are how […]
What Every Investor Should Know Before Buying Cryptocurrency
by Mary Ann Callahan If you are here, then you have probably grown curious enough to find out more about the next big investment opportunity everyone has been screaming about. Techies call cryptocurrency the money of the future or digital gold, and skeptics refer to it as a bubble that will burst anytime soon or the biggest digital scam ever. Needless to say, beyond the initial noise that surrounded the global rise of cryptocurrencies, there seems to be a growing interest and increasing curiosity about the potentials of these digital coins. New investors are attracted by the fact that cryptocurrency has managed to turn many who have been bold enough […]
Beware of digital pickpockets: How to secure cryptographic keys
The Australian financial market is being increasingly disrupted by Fintech. The number of fintech startups in Australia had increased from less than 100 in 2014 to almost 600 in 2017. Banks are having to respond to digital disruption quickly and sometimes without warning or adequate preparation. The rise of cryptocurrency is already challenging banks with more innovative systems for transaction settlement. Despite its recent decline, overall, cryptocurrency values have skyrocketed over the past few years. With this comes a major financial incentive for cyber criminals to design malicious code and sophisticated hacking tools to harvest cryptocurrency coins. One quick way for attackers to enjoy a huge pay day is by […]
The cryptic message that has the bitcoin community buzzing
Is the unknown creator of Bitcoin writing a book about it? That could be concluded from a cryptic message posted Friday at a website possibly linked to Satoshi Nakamoto, the pseudonym used by the person or people who released the original Bitcoin white paper in 2008. The site details the “first excerpt to a literary work consisting of two parts” that promises to be “a short story if you will, with some of the most brought up questions and answers. I wanted the people and the facts to be known.” In true Nakamoto style, it even includes a cryptogram, which purports to reveal names related to the title of the […]
What the HODL? Your guide to cryptocurrency slang
Cryptocurrency slang can seem a little bit mystifying to those on the outside, so here’s a useful guide to some of the words you might encounter. Cryptocurrencies such as bitcoin, Ethereum, Ripple and countless others have barely left the news cycle in the last year or so. Bitcoin, arguably the most popular cryptocurrency, hit an all-time high in December 2017 as more and more members of the public jumped on the bandwagon. Digital dictionary What many people don’t know is that there is a rich vocabulary in the world of digital currencies. Forums and subreddits are littered with terminology that can often seem bewildering to outsiders. What are ‘whales’ if […]
One of the world’s largest crypto-exchanges Huobi Global is coming to Australia
Huobi Global, one of the world’s biggest crypto-exchanges, is preparing to launch in Australia, and Adrian Harrison, chief of the local operation, says the forward-thinking regulatory landscape here puts the country at the forefront of the crypto-movement. Domiciled in Singapore, Huobi provides exchange trading for cryptocurrencies, with 150 coin pairings available. According to Harrison, the exchange is “consistently in the top three in the world, in terms of volumes”. In February, Huobi raised $US300 million ($406.7 million) through the launch of its own Huobi Token, which allows exchange users to benefit from discounts in fees. It launches in Australia on July 5, and will start by listing Australian dollars against […]