In the midst of a significant Cryptocurrency crash, Bitconnect (a Bitcoin lending and exchange platform) is closing down.
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Bitcoin's crashing and a whole lot of cryptocurrencies are going down with it. Since Monday, we've seen $166 billion in market value disappear. Some are calling it a 'bloodbath'. Is it time to get out?
That's a real tough question to answer.
Just like your friend from university who won't stop posting about it on Facebook, Kodak is really into cryptocurrencies. During CES 2018, the company announced a two-pronged blockchain strategy: 1) Its own cryptocurrency called KodakCoin designed to improve image rights for photographers, and 2) a Bitcoin mining scheme called KashMiner where customers can rent equipment and allegedly make money over a two-year period.
Berkshire Hathaway CEO Warren Buffett revealed today that the firm had no interest in jumping on the cryptocurrency bandwagon.
“We don’t own any; we’re not short any,” Buffett said in an interview on CNBC. “We’ll never have a position in them... What’s going on definitely will come to a bad ending.”
Hi, I'm the worst. After umming and ahhing for the better part of a month, I finally committed to investing in cryptocurrency. I bought into Bitcoin at around the $US10,500 valuation mark and I've been refreshing Coindesk ever since like a complete buffoon.
I've gone through just about every stage you'd expect a Bitcoin noob to go through and I am here to talk to you all about that process today.
Bitcoin went BANG in 2017, but cryptocurrencies as a whole are now beginning to filter into the mainstream more and more with every passing day. The idea that you can 'get rich quick' persists, but there are also those looking to invest long-term to hold onto and increase the value of their assets.
Whether you're in the former camp or the latter, you should ensure you are up-to-date with the latest news by having a great library of resources at your disposal. Here are some of the ones that we'd recommend.
Bitcoin’s had a bit of a rocky end to the year. After clearing the $25,000AUD mark earlier in December, in the lead up to Christmas its value plummeted and people panicked. Especially new Bitcoin investors, who thought the going was good. It seemed everyone wanted to get rid of their coins before it dropped any further – but where exactly can you spend your bitcoins in Australia anyway?
As it turns out, not very many places.
So you've heard about Bitcoin and maybe even invested a little cash into it, hoping that its price continues to skyrocket. But Bitcoin isn't the only cryptocurrency looking to shake up the way that we process transactions around the world. There are hundreds of others that have slowly began rising to prominence as cryptocurrency becomes more mainstream.
In the next few weeks, the value of bitcoin is predicted to rocket past $US20,000 - an astronomical increase of 2500 percent this year alone.
For the uninitiated, that's $US20,000 per digital coin. Back in 2009, you could've bought a fistful of bitcoin for a single dollar. The good news is that it's not too late to jump on the blockchain gravy train - you just have to start much, much smaller.
In just the last month, it feels like Bitcoin has surged to mainstream prominence, popping up on social media, TV, radio and just about anywhere information is exchanged. However, though Bitcoin may be the most popular cryptocurrency, it’s not the only one – arguably, it’s not even the best one.
We’ve rounded up the ways you can buy Bitcoin, other cryptocurrency and altcoins in Australia.
Bitcoin is a form of cryptocurrency that can be used to purchase everything from online goods to multi-million dollar mansions. They are currently more valuable than gold, with a single Bitcoin equalling more than three thousand Australian dollars. Needless to say, there is a huge amount of interest in bitcoin and it's not too hard to start mining bitcoins of your own.
It seems like every few months we hear what's basically the same story about someone who bought a bunch of bitcoin but lost access to it once the cryptocurrency became really valuable. The latest, from Engadget, tells the tale of a reporter who managed to salvage $US200,000 ($263,713) in bitcoin after travelling to Hong Kong and getting extremely lucky.