Tag: Bitcoin

Worshippers at the house of Bitcoin are likely looking to Elon Musk as a heaven-sent blessing today…

Data from cryptocurrency trading simulator Crypto Parrot has found that cryptocurrency traders on Bitfinex and BitMEX lost $US13.47 billion in 2020. The data found that $US9.26 billion of long positions and $US4.21 billion of short positions were liquidated over 2020. Crypto shorting is a bet that the price of a certain crypto asset will fall, […]

Is regulation positive for the crypto market?

Cryptojacking – where cybercriminals hijack CPU power and electricity from unsuspecting computer users to mine cryptocurrencies – can cripple a company’s network, increasing their costs and reducing productivity, warns Fernando Serto, Head of Security Technology and Strategy at Akamai Technologies (APAC). “The idea behind crypto mining on end user devices was originally conceived as a […]

Although we have come a long way as a society when it comes to our currency system, our agreed upon form of exchange for goods and services continues to evolve. Business is increasingly done online, and transactions are rarely face-to-face or finalised with a solid handshake. Plus, the way we pay for services has changed […]

Blockchain, cryptocurrencies and e-wallets. Wearables such as Google Glass and fitness trackers. Sharing economy platforms. ConstructionTech. Machine learning and artificial intelligence. Bots, smart home devices and self-driving cars. Virtual and augmented reality. Big Data. Internet-connected fridges and other IoT gadgets. Depending on who you ask, some of these technologies are either ‘hot properties’ or ‘hot […]

The use of digital currency for payments “remains relatively limited” while cash will continue to play an important role in society despite it’s declining use, the Reserve Bank of Australia  told the House of Representatives Standing Committee on Tax and Revenue.  In a statement delivered to the Committee, in relations to its inquiry into Taxpayer Engagement […]

Legislation to remove double taxation on digital currencies, such as Bitcoin, has been passed by Australian Parliament, with fintech industry leaders describing the news as a win for consumers and businesses. The Treasury Laws Amendment (2017 Measures No. 6) Bill 2017  was tabled in Parliament, last month, by Treasurer Scott Morrison. He said the reform, which will […]

The Coalition government has introduced legislation to remove double taxation of digital currencies, ensuring Australians will no longer be charged GST on purchases of virtual money, such as Bitcoin and Ethereum. The Bill will ensure that digital currency is treated the same way as physical money for GST purposes. Treasurer Scott Morrison said in a […]

Australian ATM provider Stargroup has entered into a joint venture with blockchain technology company DigitalX to roll-out ‘two-way’ Bitcoin ATMs across its global network, commencing with Australia. At present, there are only 16 ATMs in Australia that can facilitate a Bitcoin transaction. A vast majority are one-way ATMS, meaning users can only acquire Bitcoin to […]