Blockchain solutions provider DigitalX seeks to slash costs via Minority Holder Sale
Through the minority holder sale, DigitalX hopes to cut the administrative costs associated with maintaining a large number of very small holdings. Australian Blockchain technology company DigitalX Ltd (ASX:DCC) is seeking to reduce costs stemming from maintaining a grand number of small shareholdings. In a filing with the ASX, the company has unveiled its plans to conduct a minority holder share sale of parcels of shares with a market value of less than $500. Let’s note that a “marketable parcel” is a parcel of shares with a market value of not less than $500. DigitalX notes that it “values all its shareholders, however it incurs significant administration costs maintaining such […]
Bitcoin hits new record, bitcoin cash fades
Experts say the rally in bitcoin still has a long way to go, after the cryptocurrency reached a new all-time high of $US3525 this week. The latest price surge has been driven by the rise and fall of bitcoin cash – a secondary cryptocurrency – and an update in the underlying bitcoin software, which paves the way for an evolution of the bitcoin blockchain. The update – called SegWit – is the product of months of internal debate within the cryptocurrency community around how to handle the rapid increase in transaction demands. A byproduct of this debate was the creation of bitcoin cash, another coin, duplicated from the original, that […]
Locked out of property market? Five better places for Millennials to put money
By Clayton Howes – CEO of MoneyMe Life sucks for an aspiring property owner right now. You probably already know that the average price of a house in Australia ($656,800) is several (eight) times that of the average full-time yearly income ($78,832). You’ve probably already heard that in the past five years alone, wages have grown significantly slower (13 per cent) than house prices (41 per cent), especially if that house is in Sydney (70 per cent). It’s enough to make you want to drown your sorrows in the most expensive smashed avo and latte combo available! But honestly – enough, already. If you’re as bored as I am of […]
Sydney fintech Stake is starting its $0 brokerage US share trading service
Sydney startup Stake will launch its $0 brokerage US share trading service within the next few days, giving ordinary Australians a low-cost opportunity to invest in brands like Amazon, Facebook and Tesla. The fintech first revealed in June its plans for the new service but the details hadn’t been settled at the time. Now founders Dan Silver and Matt Leibowitz have revealed to Business Insider that the only user fee would be 70 basis points on the foreign exchange rate when loading up and withdrawing from the US dollar trading account. Stake had also previously flagged intentions to introduce paid services on top of the basic product, but Leibowitz now […]
A Bitcoin for your thoughts?
By Naomi Christopher, Midwinter Financial Services, Senior Manager – Brand Those of us in the tech world can all agree that Bitcoin is genuinely starting to take off or at least cause a stir…. If by take-off you mean clamber $672 bucks one day and slide down $384 the next. But while some of us look on with wide eyed enthusiasm as the price of it continues to climb and fall and then climb and fall (but mostly climb at the moment!), much of the rest of the world continues to scratch their heads as they grapple to understand “what’s it all about?” And of course, whether it is in […]
You could buy 100 boxes of avocados for the price of one bitcoin
Even with all the hand-wringing about bubbles in stock and bond markets, it’s hard to ignore what’s going on in the world of cryptocurrencies and bitcoin. The value of the largest digital currency continues to soar to record highs after weathering a split last week. It has increased more than threefold this year, compared with a doubling in the value of Vertex Pharmaceuticals, the best performer in the S&P 500 Index. At the record price of $US3,486.73 reached overnight, one bitcoin could probably fund a nice holiday. By comparison, one share of Vertex at $US154.82 would get you a fancy dinner. Here’s some other stuff you could buy for the […]
Here’s how Bitcoin can get to $US100,000 in 2021
Bitcoin is trading at record highs on Monday, but the cryptocurrency may still be far from hitting its ceiling. The cryptocurrency has rallied 16.19% since July 31, despite last week’s fork that split it in two. It’s up 465% since last year. According to analysis by Dennis Porto, a bitcoin investor and Harvard academic, the bitcoin’s price could hit $US100,000 per coin if it continues to follow one of tech’s “golden rules,” Moore’s Law. The rule, which was devised in 1965 by Intel cofounder Gordon Moore, describes the exponential improvements of digital technology. “Moore’s law specifically applied to the number of transistors on a circuit but can be applied to […]
zipMoney secures $40M strategic investment and relationship with Westpac
zipMoney Limited (ASX: ZML) is pleased to announce that it has secured a $40 million strategic investment in the Company from Westpac Banking Corporation (ASX: WBC) by way of a private share placement. Westpac and Zip have also entered a strategic relationship which allows the parties to explore the integration of Zip’s products and services across Westpac’s network throughout Australia. As part of the strategic relationship, the parties will explore other initiatives including the provision of currently in-development business-to-business products and services to Westpac. The WBC strategic investment will be by way of a $40 million ordinary equity investment comprising the subscription of 49,382,716 fully paid ordinary zipMoney shares at […]
