Bitcoin blows past USD$2,100 for the first time
Bitcoin is seemingly unstoppable right now. The cryptocurrency topped both $US2,000 and $US2,100 for the first time on Sunday night/Monday morning. It’s now trading up $US106.11, or 5.2%, at $US2130.69 a coin. Monday’s advance has been fuelled by further weakness in the US dollar, and news that Peach has become Japan’s first airline to accept the cryptocurrency, Bloomberg says. Bitcoin has gained in 24 of the past 27 sessions, and is up more than 82% over that time. According to CoinMarketCap.com, bitcoin now has a market cap of nearly $US35.9 billion. The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin is […]
Bitcoin taps fresh record highs amid rising demand from Japan, China
Bitcoin climbed above USD$2,000 for the first time Saturday on increased demand from Japanese and Chinese investors. The digital currency rose more than 4.5 percent to hit an all-time high of USD$2,061.88, according to CoinDesk.com. Bitcoin was last trading near USD$2,047. Japan accounted for nearly 55 percent of trade volume, up from near 40 percent Thursday, according to CryptoCompare.com. Prices for bitcoin on the Hong Kong-based Bitfinex exchange rose, narrowing a recent gap with the global rate in anticipation that bitcoin traded on Bitfinex can soon be easily converted to U.S. dollars. Chris Burniske, a blockchain products lead analyst at fund manager ARK Invest, pointed out in a tweet Saturday […]
Australian blockchain delegation heads to New York
Australia’s blockchain capabilities and technologies will be showcased to global leaders and investors at Consensus 2017 in New York from 22-24 May. A 26-member Australian delegation will be heading to the event to present globally competitive and innovative solutions across the spectrum of industry applications, from digital currencies and payments to agricultural supply chains, smart contracts and identity management. Consensus 2017, now in its third year, has become a landmark event on the blockchain calendar. The event attracts global professionals from leading industry startups, investors, financial institutions, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Nicola Watkinson, Austrade’s Senior Trade and […]
Can Australia drive Bitcoin and FinTech Development in the Southeast?
After the 1st of July 2017, Australian blockchain and Bitcoin-related businesses that have relocated abroad can return. Coinidol.com contacted experts from Australia and asked them about the problems that the government should solve for the cryptocurrency and blockchain markets during the next year. Australia takes an important step toward Bitcoin and cryptocurrency acceptance with the government’s decision to drop the double goods and services tax (GST) starting July 2017. Double taxation – problem for the whole cryptocurrency industry Most countries have no problems with double taxation and GST being applied to Bitcoin purchases. And Australians often had to buy cryptocurrency overseas, which also blocks the development of a local cryptocurrency […]
Bitcoin rises to record high in blockchain-related boost
Digital currency bitcoin hit a record high overnight as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator. Bitcoin hit a record $US1760.40 on the BitStamp platform and was last at $US1747.89, up 6 per cent on the day. So far this year, bitcoin has surged nearly 80 per cent. Bitcoin’s market capitalisation overnight soared to $US52.5 billion, according to data from coinmarketcap.com. Aside from being an asset that can […]
Financial advisers should consider bitcoin as an asset class
There is no better way to understand blockchain technology than to invest in bitcoins, a digital currency that has outperformed traditional currencies in recent years, according to an industry expert. This week the cryptocurrency broke record-highs when it started trading above USD$1680 against the US dollar. As at May this year, the total market cap of the bitcoin market has more than doubled to US$23 billion since it hit the US$10 billion mark just three years ago. Australia-born chief executive of Silicon Valley-based blockchain outfit Wyre, Michael Dunworth, said for financial advisers who are trying to figure out how the industry will affect their business, there is no better way […]
This fintech let Australians use Bitcoin to pay $5 million worth of everyday bills
A Brisbane startup has allowed Australians to pay off $5 million worth of common household bills with Bitcoin. The unusually named Living Room of Satoshi has created a service that allows any bill that you can pay through the common BPay platform to be paid with Bitcoin. These include payment for utilities like telecommunications, electricity, gas, school fees, water and credit cards. The startup’s chief executive Daniel Alexiuc said that he started the venture in 2014 because of a lack of practical use for the cryptocurrency. “As the first truly international, decentralised and peer to peer currency, Bitcoin is perfectly suited to bill payments in Australia,” he said. “It also […]
Australia reaffirms pledge to fix Bitcoin tax issue
Australia’s government is pushing ahead with plans to solve the “double taxation” problem of digital currencies in the country. The government pledged more than a year ago to solve the policy dilemma, wherein Australian businesses are liable for goods-and-services (GST) taxes on any bitcoin sold – as well as taxes should they take them as payment. It’s a point of criticism expressed for years by the country’s bitcoin community, culminating with last year’s commitment. According to statements published today, the government is consulting with its fintech advisory group on the matter – though it cautioned that any material changes would depend on action on the provincial level. The policy document, […]
