Tagged With bitcoin

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Dear Lifehacker, I bought bitcoin through Coinbase, now I am told I can't yet sell digital currency in Australia. Is this so? If not, is there a way in which I can transfer my bitcoin to another exchange to be able to sell it?

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Bitcoin, the decentralised digital currency, seemed on the verge of disappearing after every scandal, crash or hack. But eight years later, it's not only growing but accelerating, with the price of a single BTC "coin" recently climbing above $5400.

And it isn't the only cryptocurrency; competitors include Litecoin, Dogecoin and Ethereum (a currency that supports "smart contracts"). These graphs, videos and explainers contain everything you need to know.

Shared from Gizmodo

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With the meteoric rise in popularity of Ethereum, cryptocurrencies and blockchains are back in the news again. Graphics card prices have soared with the promise that those who have the computers and know-how to do some serious mining can take home huge sums in a Bitcoin-like gold rush to snatch up as much virtual currency as possible. But how easy is it to make your fortune in cryptocurrency? And is it worth your while getting started?

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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.

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Just when you thought you had your head around bitcoin, along comes Ethereum. The word has been in a lot of headlines lately — as the cryptocurrency world’s new favourite thing soared in value. To be more specific, the price of something called an ether token is up over 3000 per cent.

Bitcoin, which is far more widely known as an alternative ‘currency’, is up about 141% so far this year. But what exactly are ether tokens and Ethereum? And how is it different than bitcoin? We’ve broken it down for you.

Shared from Gizmodo

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Five years ago, I threw away a hard drive. An utterly generic 250GB portable hard drive, already a few years old, with a couple of dings and scratches in its shell and with the beginnings of an audible click that would have eventually killed it.

It had a data file containing 1400 Bitcoin on it. No big deal, at the time. Today, those few kilobytes are worth more than four million dollars.

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The problem with most blockchain "explainers" is that they provide more detail than what matters to most people, using language that is foreign to most people, which winds up leaving people more confused than when they started. Instead, without worrying about being a technically perfect description, here's an explanation of blockchain your parents could understand.

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The web has revolutionised many things, but who would have expected it to change the very nature of money? Introducing Bitcoin. This cryptocurrency is quickly being adopted by many online businesses, thanks to its speed and reliability. With the Bitcoin for Beginners: Master Bitcoin Course, you can learn all about Bitcoin and its perks, and even how to start your own Bitcoin-powered business. For a limited time, this course is on sale for only $50.70 AUD .

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The use of blockchain in financial services would need to be carefully regulated with access restricted to only approved participants. Institutions should also be required to use "kill switches" to stop computers automatically executing in times of stress. These are some of the recommendations of outgoing chair of IOSCO Greg Medcraft based on concerns from global regulators. In short, blockchains are risky business.

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While Bitcoin gets all the attention, the blockchain technology it's based on can be used for a wide variety of applications, such as tracking ownership or the provenance of documents, digital assets, physical assets or voting rights. Here are some of the ways blockchains could improve business and government.