The world of cryptocurrency is weird and complicated. In this four-part series, we look at the history of crypto, how you can get your hands on some, what you can do with it, and the Australian innovators looking to capitalise on this emerging technology. Part I: Well, it looks like an historic cryptocurrency bull run is over.… Read more »
Bitcoin’s dirty secret: Elon Musk’s change of heart is a warning to cryptocurrencies to clean up their carbon footprint
Over the weekend, Tesla chief executive Elon Musk suggested his company could sell off its Bitcoin holdings, sending the cryptocurrency plummeting. It followed Musk’s announcement earlier this month that his company would no longer accept Bitcoin in payment for its electric cars, due to the fossil fuels needed to create the digital currency. Bitcoin is… Read more »
January 2015 was an interesting time for bitcoin and Westpac’s fintech venture capital fund, Reinventure. Simon Cant and Danny Gilligan, co-founded the VC with Westpac the year before. Bitcoin kicked off the year at around US$300, before crashing to $170 within a fortnight. The cryptocurrency would climb to $465 before the year was out and… Read more »
Bitcoin and other cryptocurrencies have gone on a tear this afternoon, surging to record highs ahead of the direct listing of US crypto exchange Coinbase on the Nasdaq tonight. The listing is also good news for Westpac and its investment fund, Reinventure, which dropped $50 million investment in Coinbase back in 2015 and could be… Read more »
Crypto currencies are finally being taken seriously by institutional investors, with the likes of BlackRock recently announcing that it had begun investing in Bitcoin. The original crypto might have crossed the US$55,000 level again this week, but Roger Montgomery, Chairman and CIO at Montgomery Investments says he still needs more convincing and is yet to hear a… Read more »
Elon Musk, the chief executive of Tesla, recently announced his company had bought US$1.5 billion (almost A$2 billion) of Bitcoin. The announcement led to a flurry of enthusiasm and a quick surge in price for the controversial cryptocurrency. This price bump has been good news for Musk in the short term. At one point, Tesla’s… Read more »
Iran had a massive crackdown on Bitcoin mining, seizing 45,000 machines, after the country was hit by blackouts
Iranian police confiscated more 45,000 bitcoin mining machines, chewing up around 95 megawatts per hour (MWh) of electricity, because the miners were using cheaper, subsidised power illegally, according to local media agency Tasnim News. To put that in perspective, that’s around half the capacity of South Australia’s Tesla “big battery” plant (aka Hornsdale). Iranian authorities… Read more »
Yes, a guy has nearly lost $340 million worth of Bitcoin after forgetting his password, but he’s a small part of a $200 billion problem
If you’re feeling a bit sad about your fortunes at the moment, spare a thought for San Francisco-based computer programmer Stefan Thomas, who, around a decade ago, made this video and took 7,002 Bitcoins as payment for the job. The New York Times has the sad tale of German-born Thomas – a former CTO at blockchain… Read more »
Bitcoin continues to trade close to its all-time high reached this month. Its price is now around US $34,000 — up about 77% over the past month and 305% over the past year. (Editor’s note: Since this piece was first published, Bitcoin’s price has doubled in a month to US$40,000.) First launched in 2009 as… Read more »
Bitcoin is back. Three years after the bubble that inflated its value from US$5,000 to US$20,000 in less than three months burst in spectacular fashion, plunging more than 80%, the cryptocurrency is again on the verge of a record high. In recent days it has been trading above US$19,000, up from US$10,000 in October and… Read more »
Digital currency exchange Cointree has launched the ability to pay everyday bills using cryptocurrency after signing a deal with AI bill payment platform Gobbill. The deal allows Australians to pay bills via BPAY using more than 100-plus supported coins. Founded in Melbourne in 2013, Cointree has more than 60,000 members and processed in excess of… Read more »
Qnect Technologies has had its customer data stolen, with the hackers threatening to publish the information online unless the business paid out bitcoins.
Blockchain startup R3 raises US$107 million Series A with participation from Westpac and Commonwealth Bank
Blockchain startup R3 has announced the close of a US$107 (AU$143) million Series A round, marking the largest raise for a blockchain startup to date.
Melbourne-based venture capital firm Trimantium Capital and US firm Winklevoss Capital have announced a potential co-investment in blockchain technology. Both firms are currently in the co-investment development stage and aim to leverage off each other’s deal flows to expand the presence of blockchain in Asia.
Students from the University of New South Wales have developed their very own use for blockchain technology and created their very own fintech startup, Dime.