For retail traders who simply want to buy and sell bitcoin and other cryptos, the Autralian rules are simple. For those running crypto businesses or providing blockchain services, things can be more complicated – but the level of clarity provided by regulators should be reassuring.
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The internet has profoundly changed the way we live, work, and play, for many purposes shrinking Planet Earth to the size of a room. We can video chat with a friend in another country as easily as if they were sitting across the table from us. Buy a book from Amazon and have it delivered faster than if we had to go out and find a shop that stocked it. Stream a movie from our sofa when we once would have had to drive to the cinema. Work with colleagues all over the world without setting foot outside our houses, let alone getting on a plane.
Institutional investment in Bitcoin has been a key driver of the 2020-21 bull market, with the top ten corporate investors alone holding almost 200,000 BTC, or over 1% of total current supply.
So you’ve made some money on that bitcoin you bought months or years ago. Now, you want to convert it to cash. Follow these steps to make sure the funds hit your bank account safely.
There are currently 21 989 Crypto ATM’s Worldwide, and as per Coin ATM Radar, every single one of them provides support for Bitcoin, which is hardly surprising.
To witness the likes of Elon Musk ramble, day after day, about cryptocurrency but more specifically about Bitcoin, and companies such as MicroStrategy, Tesla, Galaxy Digital Holdings and Marathon Patent Group announce publicly that they are moving their reserves into Bitcoin should be an electroshock to anyone not invested in the crypto markets.
When one thinks about the “Bitcoin Rich”, names such as the Winklevoss Twins, Michael Novogratz, Barry Silbert, Tim Draper, Dan Morehead and Brian Armstrong pop up almost immediately.
This is a question many new entrants, unaware of the hows and whys of the Crypto Sector, often ask themselves. Red-faced advocates, scrambling for answers, grapple at notions such as scarcity (“There will only ever be 21 million bitcoins in circulation”), which, as we will see below, do not provide strong enough answers to this question. The question itself is interesting, as it mixes a digital asset emblematic of value exchange in the new paradigm we find ourselves in, and an asset emblematic of value exchange in the old paradigm.
If no name, phone number or address is attached to a Bitcoin Public Key, can it actually be linked to a specific individual? The answer is an unsettling and a resounding “Yes”. Bitcoin has often been mistakenly defined as an anonymous currency, however this notion could not be farther from the truth. There are a multitude of ways inquisitive eyes can link a Bitcoin Public Key to the identity of a user.
Much has been written about the scalability issues of the Bitcoin Network, which requires participants to patiently wait for transactions to be confirmed, a process that can take from a few minutes to an hour.
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