Australia, New Zealand Issue Warnings on Bitcoin
That didn't take long at all. Just after the news this morning that the European Union was warning consumers about the 'dangers' of bitcoin, Australia and New Zealand have too jumped on the bandwagon, with officials from the central banks of both countries calling bitcoin "interesting, but risky". The warnings? The usual. Doubts about the currency as a whole, the dangers of getting hacked, and of course, the possibility of use for tax evasion and crime (surely something that can't be done with fiat!). It now appears we've entered a full-fledged domino effect with government statements on....
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Representatives from the central banks of New Zealand and Australia have issued their own official warnings on bitcoin, terming the currency "interesting, but risky". The banks' comments come hot on the heels of the European Banking Authority's stance today. Both comments echo the public statement issued by Chinese authorities on 5th December, which led to the price of bitcoin falling by $300 on popular exchange Mt. Gox. New Zealand. John McDermott, assistant governor at the Reserve Bank of New Zealand (RBNZ), said banks and businesses should "tread very carefully" with the digital....
Extortion for Bitcoin has become more and more common within the United States, with families, businesses and even police departments under attack. Anywhere from a couple of bitcoins to one hundred or more are demanded. The problem has been domestic, but now other major Bitcoin markets like Australia and New Zealand are feeling the effects of those desperate enough for Bitcoin that they turn to a life of crime. A scourge of DOS attacks has hit the region, according to ZDNet. Extortion in Australia by an Unknown Group. The identity of the group or its participants is unknown at this time,....
Note from the Author: Coming to you from the Bitcoin South Conference in Queenstown New Zealand that featured speakers like Andreas Antonopoulos and Jeffery Tucker. Please see (@Tone_LLT) for additional updates. Last week, we concluded with the following: This has been one of the less volatile weeks for Bitcoins’s price in a while. We have been consolidating around the 50-day SMA that currently sits around US$380. It is actually positive sign that we are consolidating and are mostly staying above the base of the Descending Triangle shown on the graph of the daily chart. Now that the....
Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol. The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) - another 'big four' rival - is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as
A tech leader and software company director has said that the setup of a national FinTech organization will push New Zealand’s economic growth. Mitchell Pham, tech leader and director of NZTech, said that New Zealanders should care about FinTech as electronic interactions will play an important role across the country’s economy, according to Scoop News, a New Zealand news website. After gathering support from NZTech and the New Zealand government, FinTechNZ was launched last week. Pham is reported as saying that e-commerce as a subset of FinTech is important for the future of small to....