Cryptocurrency Assistance Australia

22/11/2021

Ask us or send us any issues you are currently having and we will do our best to help you. Post it in the comment section of our page so it may also help others with similar questions.

06/09/2021

A simple explanation of Blockchain for new users into the crypto space

What is the blockchain? If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is her...

05/09/2021

Anyone interested in a xlsx spreadsheet to record your crypto sales and buy in?

This can also be handy come tax time if you are withdrawing regularly or buying regularly.

DM us or comment below

03/09/2021

How to move your stETH across to Terra bETH

In this video I show you how to move your STETH over to Terra bETH so that you are ready to use it as collateral in anchor when it launches tomorrow Part one...

27/05/2021

Who is able to answer this question below correctly?

06/05/2021

https://www.euronews.com/2021/04/07/paying-with-cryptocurrencies-these-are-the-major-companies-that-accept-cryptos-as-payment

Despite concerns over their volatility, more and more companies are accepting cryptocurrencies as a payment method. These are the biggest accepting virtual cash; from PayPal to Starbucks.

13/04/2021

Hello,

This page will be getting updated regularly.

Will bring you the latest updates in crypto news and also try give you all the best heads up on different coins being pumped.

Who is actively trading on here?

08/01/2018

3000 bitcoin ATMs in total planned to launch across Australia. As the ITNews article puts it: "This will solve a pain point for bitcoin enthusiasts, who generally need to wait days using existing digital currency exchanges to cash out."

How many people have a bitcoin Eftpos card already?

07/01/2018

Hi Everyone,

Thanks for following us on here and all your questions. We are happy to get them and post a general article about it on here for everyone to see.

If you have questions please free to ask us. If it's specific and want help in investing in bitcoin or other crypto's. We will be happy to help you for a very small reasonable fee of $50 for 30mins.

Have a great Day from the team @ CAA

07/01/2018

Bitcoin Price Holds Steady But Future Spike May Be In The Cards

After wild price swings over the weekend, the price of bitcoin held steady in the last 24 hours. At 14:48 UTC, bitcoin was trading at AUD $21,038.84 more or less unchanged from its price 24 hours ago.

Bitcoin cash, which rose over the weekend and plunged Monday, gained in trading. As of this writing, it was trading at AUD $1,685.94, up 11.25% in the last 24 hours. That figure represents a drop of approximately 47% from its weekend highs.

Ethereum Classic was the second-biggest gainer in the top 10 most-traded cryptocurrencies. It rose by 10.81% to $21.87. The total market capitalization for cryptocurrencies was $207 billion at 14:50 UTC, an increase of 1.5% in the last 24 hours.

The sideways movement in bitcoin’s price is significant, especially since it comes in wake of a Bitcoin Cash hard fork that was designed to make it more profitable to mine the cryptocurrency as compared to bitcoin. (Look out for our next article How November's Hard Fork Affects Bitcoin Miners.)

Per latest data, bitcoin still accounts for more than 50% of the overall hashrate or network capacity in its blockchain. In turn, this means the numbers of bitcoin being mined in the cryptocurrency’s blockchain network is greater than those for bitcoin cash. In recent times, miners had spoken out in favor of deploying their systems to mine bitcoin as opposed to bitcoin cash.

Also, CME Group Chairman Terry Duffy has told CNBC that the trading exchange may introduce Bitcoin Futures during the first week of December. That move may serve to smooth out volatility in bitcoin’s price. “If the market drops precipitously, we’ll stop trading," he said. "And if we think a product is going away, we have the longs, we have the shorts; we’ll match them up at a price, and that’s the way our rules read today."

A Future Spike?
In the meanwhile, a spike may be on the cards for bitcoin in the near future. According to a CNBC report, which cites data from Genesis Global Trading, the price for bitcoin could move up by as much as 61.5% by the end of four weeks. Genesis analyzed bitcoin’s recent price history and found that each time the cryptocurrency has fallen by more than 20 percent this year, it has gained an average of 28 percent in the following two weeks.

- Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky, Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions.

07/01/2018

China May Curb Electricity for Bitcoin Miners: Will Prices Tank?

China is cracking down on bitcoin miners.

According to reports, the People’s Bank of China (PBOC) outlined a plan to curb “some” bitcoin miner operations in a closed-door meeting on January 3. The plan involves investigating power consumption of bitcoin miners to determine whether their use of free or cheap electricity use has distorted power prices in those areas.

Most studies and anecdotal reporting state that China is home to a majority of bitcoin mining operations. The country is home to 71 percent of overall bitcoin mining pools, as of September 2017.

According to Jihan Wu, CEO of China-based Bitmain, 70 percent of bitcoin mining rigs in the world today are made by his company. Bitmain also owns the world’s biggest bitcoin mining facility in Inner Mongolia.

“By far and away, the country where most of this (bitcoin) mining is taking place is China,” said Garrick Hileman, University of Cambridge Research Fellow, in an interview last month.

According to Hileman, the biggest driver for miners setting up shop in China is the country’s offer of cheap electricity, thanks to cheap coal and, in some locations, free hydropower. Miners often set up shop in such areas. The move benefits power companies as well because they earn cash by diverting surplus or idle power to mining operations.

However, bitcoin’s electricity use has recently gained notoriety after new reports outlined its massive and unsustainable power requirements. Craig Erlam, senior market analyst with Oanda, said electricity usage will remain a “significant challenge” for it in the years ahead. China’s move is probably a response to these concerns.

- Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky, Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions.