Cryptocurrency

Iran had a massive crackdown on Bitcoin mining, seizing 45,000 machines, after the country was hit by blackouts

- January 19, 2021 < 1 MIN READ

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 »

Cryptocurrency

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

- January 15, 2021 2 MIN READ

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 »

Profiles

This startup lets you send a box of shit to people you hate using bitcoin so you don’t get caught

- November 27, 2014 3 MIN READ

A life coach, or somebody of a similar non-profession, once said ‘never hold a grudge’. But, in case you do hate someone, shit delivery startup Shit Express is here to accommodate. At first glance, what’s impressive about Shit Express is its succinct tagline: “Send a piece of shit in a box to someone”. In a short sentence, the startup has summed up its entire business.

Insights

Accounting and tax for Bitcoin in Australia

- March 7, 2014 4 MIN READ

With Bitcoin use increasing in Australia, there has been little guidance to date from the ATO and other regulatory authorities about the accounting and tax treatment of this payment method. So we have put together a list of some of the key accounting and tax questions you may have when using Bitcoin.