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Australia Bitcoin Crypto News Cryptocurrency Law

Australian Programmer Claims To Be Satoshi and Opens A$7.4B Lawsuit

Craig Wright is in the news again, this time with his ongoing court case to get access to 111,000 Bitcoin (over $7 Billion AUD) held in two digital addresses – he claims the private keys were “stolen” earlier this year.

The Australian computer scientist who now lives in the UK, claims he is Satoshi Nakamoto who created Bitcoin, and has launched a London high court lawsuit against 16 Bitcoin Core software developers in an effort to secure his “lost” Bitcoins.

“Our client has always maintained that he created Bitcoin to operate within existing laws and that in the event of loss or theft, where legitimate ownership can be proven, the developers have a duty to ensure recovery,”

Paul Ferguson, lawyer representing Wright

The case is largely centred on who wrote Bitcoin’s whitepaper, which first outlined the vision of Bitcoin and was published under the pseudonym Satoshi Nakamoto in 2008.

It does seems odd, that a person so deliberately private and anonymous would suddenly feel the need to burst into the spotlight and claim the title as the great Creator of Bitcoin.

Reached by email, Cobra from Bitcoin.org said:

“We’ve been threatened to take down the Bitcoin whitepaper by someone who obviously isn’t the inventor of Bitcoin (if he was, that would make him the 25th richest person in the world, which he obviously isn’t).

Cobra

It remains to be seen if the courts will decide in favour of these seemingly absurd and highly controversial claims. It smells a bit like the old classic, “the dog ate my homework”. If you can’t prove it, then you don’t own it. The true power of the blockchain is that it is so beautifully open and transparent.

If Craig Wright really is Satoshi Nakamoto, could he retrace the breadcrumbs and provide real evidence to back up his claims?

Stay tunes to see how this court battle pans out.

Related news:

Categories
Australia Crypto News Scams

Australian BitConnect Promoter Pleads Not Guilty In Ongoing Court Battle

Alleged former BitConnect promoter John Bigatton pleaded not guilty at Downing Centre Local Court, according to his lawyer.

Bigatton, 52, was one of the promoters of BitConnect, a cryptocurrency project that turned out to be one of the biggest Ponzi schemes in the history of crypto.

Bigatton Charged with Defrauding Australian Investors

The Australian Securities and Investments Commission accused Bigatton of ripping off small investors in Australia back in 2017/2018, besides various counts of financial crime. Bigatton is facing six charges that could give him up to 10 years in prison.

Bigatton’s lawyer, Liam Macandrews, told the court his client will maintain his not guilty pleas. Magistrate Jennifer Atkinson approved Bigatton’s pleas, however, he will next appear in the District Court on June 11 to face trial without bail.

BitConnect: Greatest Fraud in Crypto History?

Bigatton was a promoter of BitConnect in Australia before its collapse in early 2018. BitConnect, a cryptocurrency and crypto exchange, had an estimated market cap of more than US$2.5 billion in December 2017.

BitConnect became wildly popular through aggressive propaganda and offering attractive returns to investors. It went from US$0.16 to $436 in 2017 but crashed as soon as U.S. authorities came in as BitConnect was an unregistered exchange.

1 hour of Bitconnect guy screeming – [Youtube]

Carlos Matos, the leader behind BitConnect and famous for the “​yell BITTCONNEEEECCTTTTT!” phrase, disappeared since the platform was shut down, only to reappear in 2018 as a health promoter, trying to leave behind his reputation as a crypto scammer.

Categories
Australia Crypto News Cryptocurrencies Dogecoin

The Kid LAROI Makes A Cameo In Musk’s Doge Tweets

After hitting the number one spot on Australian music charts in 2020, Aussie rapper The Kid LAROI also hit the trending section of Twitter by popping up in one of Elon Musk’s many Doge-related tweets.

Guest on SNL and Doge Tweets

The tweet came shortly before the rapper from Sydney was due to appear on SNL along with Miley Cyrus, in an edition of the show hosted by Elon Musk.

The original image – conspicuously missing the mischievous Shiba Inu – was posted to Miley Cyrus’s Instagram shortly before the edit made it to Twitter.

With Doge, Without You

Before getting tweeted with the mascot of Dogecoin (DOGE), The Kid LAROI and Miley Cyrus reportedly met through Omer Fedi, the co-writer and producer of his hit single “Without You”.

We met through Omer because we’d been working together, and we talked about maybe doing a remix of “Without You”. Omer came to me and was like, ‘Hey, would you want Miley to do the remix?’ And I was like, ‘Yeah, that would be dope’. So, we just linked up, met in the studio, she cut the record and then we went and hung out and had a little party. She’s cool as f—. I remember when my cousins used to force me to watch Hannah Montana, so collaborating with her was pretty cool.

The Kid LAROI [source]

Reaching international stardom through his singles Let Her Go and Go – both of which made the Hot 100 billboard – The Kid LAROI is also the youngest Aussie solo artist to gain the number 1 spot on the ARIA charts through his 2020 mixtape.

Categories
Australia Crypto News Cryptocurrencies Investing

Australian Traders Favor Crypto and Stocks Almost Equally – Recent Survey Shows

It seems cryptocurrencies are calling the attention of ASX investors as they seek more speculative assets like Bitcoin and Ethereum.

According to a survey from TradingView, cryptocurrencies are the second most preferred assets, outranking other traditional assets like bonds and futures.

Key Points:

  • 59% of Australian traders said they trade cryptocurrencies (compared to 64% Stocks and 32% Forex)
  • 230,000 Australians are registered on TradingView (up 340% since 2019)

Cryptos Brushing Stocks

The survey, in which 2,134 Australians participated, was divided into two categories: veteran traders with over five years of experience and newer traders.

54% of experienced traders said they would include crypto-assets in their portfolios, while 65% of new traders were even bullish on crypto, outlining the strong surge in interest for digital assets across the country.

Stocks remained the most popular option for investors, however, by a small 3% margin. Fiat currencies remained the third most popular option for traders, followed by exchange-traded funds, options, and futures.

Source: TradingView

Cryptocurrencies are having strong momentum in the country as more Aussies recurred to sites like TradingView to check in on the latest market movements.

There are 230,000 Australian users registered in TradinView, and at least 100,000 registered on the site in 2020, marking a 340% increase from 2019 and 2.25 million unique visitors in Australia last year.

“The popularity of cryptocurrency appears to be moving ahead of most traditional asset classes [. . .] This brings a new level of ‘credibility’ for crypto and Bitcoin in particular, and could help sustain the current momentum for a longer period of time.”

— Glenn Leese, director of growth for Australia at TradingView

Not only the number of investors is growing, but Australian-based blockchain companies and crypto communities are taking significant steps to bring awareness to the regulatory environment in the country.

A recent Australian company that hit an important milestone is Fantom Foundation, passing 3 million transactions on May 5, now processing over 200,000 transactions daily.

Categories
Australia Bitcoin Crypto News Cryptocurrencies

Bitcoin and Crypto Car Number Plates Becoming Popular In Australia – How To Get One

Personalised crypto number plates are starting to appear around the world on social media as the Bitcoin craze goes mainstream.

You can use almost any phrase as your car registration number plate to make your vehicle stand out. You can create your own number and letter combinations, and restyle your existing number plates as long as you follow the rules for your state.

Let’s take a look at some popular ones and how you can get one in Australia.

Popular Crypto Number Plates In Australia

Crypto enthusiasts all over the world have been promoting Bitcoin and their favourite coins by getting custom car number plates. Here are some of the best one’s we’ve seen in Australia.

Car Spotted in Australia with BITCOIN number plate [reddit / reddit]
HODL number plate spotted in Melbourne Australia [reddit]
MR BTC Victoria state number plate [source]
B1TCOIN Queensland plate for sale $250k [mrplates.com.au]
BANKRPT Melbourne number plates bought with crypto profits [source]

How to Order a Custom Number Plate in Australia?

Let’s take a look at where you can check and order your custom rego plates in Australia.

Personalised Plates Queensland (PPQ)

You can check if the plates you want are available using the PPQ website.

Car plate preview HODL ETH on PPQ

Mr Plates

Mr Plates is also an online marketplace where people sell number plates that they have registered to sell or are no longer using. There can be various reasons for selling custom number plates. Buying the plates online are considerably more expensive than creating your own. However, if your desired one is already registered you might need to buy it off that person.

Some Bitcoin car plates on Mr Plates marketplace

Ebay AU

Some people got in early to register crypto plates and are now selling them on some marketplaces like Ebay. There are some interesting ones for sale in Australia, including HODLNG listed for $10,000 AUD.

A personalised car plate being sold on Ebay
Personalised car plate being sold on Ebay

Gumtree AU

You can also find custom number plates for local sale on Gumtree AU.

Bitcoin number plates for sale on Gumtree
HODLON Victoria state plate for sale [gumtree.com.au]

Trade Unique Cars AU

BUY BTC personalised car plate for sale [tradeuniquecars.com.au]

CafePress AU

One can also get a custom bitcoin frame for your numberplate to add that extra hint of personalisation.

Custom frame examples from CafePress.com.au
Categories
Australia Blockchain Crypto News DeFi

Australian Blockchain Platform Fantom Surpasses 3 Million Transactions

Fantom (FTM) – an Aussie blockchain platform founded in 2018 – has just passed the important milestone of 3 million transactions.

Sitting at a market cap of $2 billion, with each token currently worth $0.71, the Sydney-based DeFi platform has witnessed a staggering growth within the past year, after slowly ramping up operations and getting the word out to eager investors.

Low Fees And Cross-Chain Consensus Compatibility

Technically speaking, the Fantom Blockchain brings a lot to the table. Built around an asynchronous and byzantine fault-tolerant (aBFT) consensus mechanism named Lachesis, it’s possible for developers building their projects for the Cosmos blockchain to ensure compatibility with the Fantom Blockchain as well. New projects can also be easily created on the Fantom blockchain itself.

Fantom is seamlessly integrated with MetaMask and boasts many well-known Ethereum dApps.

Although the low fees set in place by the platform are one of the main selling points, Fantom pride themselves on the speed of their transactions as well. The increase in Fantom’s network activities comes amid the “Go-Opera” network upgrade just a few days ago, which was also aimed at improving the network reliability, efficiency, and transaction speed.

According to Michael Kong (CEO of Fantom), the butterfly effect that helped Fantom reach widespread popularity couldn’t have started without the help of developers who saw Fantom as the best way to bring their projects to fruition.

We’re extremely excited to see developers building on Fantom and people using what they create. Initially, we saw household names from the Ethereum DeFi ecosystem deploying a second instance on Fantom; more recently, we witnessed a surge in people building natively on Fantom, which is a huge sign of confidence. Developers find it easy to build on Fantom, and people love the near-zero fees and instant transactions. The growing popularity created a network effect that pushed Fantom market cap past the $2 billion mark. It’s a major milestone for us.

Michael Kong, CEO of Fantom

The growth of Fantom doesn’t seem to be slowing down anytime soon as it looks like the team behind it will take steps to ensure that their DeFi platform remains a force that can compete with older kids on the block.

Categories
Australia Banking Crypto News Ethereum

Ethereum Is Now Worth More Than Australia’s Big 4 Banks Combined

Ethereum’s market cap is now worth more than Australia’s four largest banks combined after ETH surpassed $3,895 AUD in price — extending above $4,413 AUD on May 3, outpacing Bitcoin and most altcoins.

Ethereum’s market cap, as per Coinmarketcap, is now worth around $490 billion AUD, with a 10% surge in just 24 hours.

Ethereum market cap in AUD Feb-May 2021
Ethereum market cap in AUD Feb-May 2021 [CoinMarketCap]

For comparison, the market cap of Australia’s four largest banks can barely come close to ETH even combined together (according to 2020 data):

  • Commomwealth Bank of Australia (CBA): $122.7 billion AUD
  • Westpact Banking Corp: $60.8 billion AUD
  • NAB (National Australia Bank): $58.3 billion AUD
  • ANZ (Australia and New Zealand Banking Group): $48.8 billion AUD
  • Total market cap combined: $290.6 billion AUD

Ethereum Breaks Price Record After the Crash

After most crypto-assets tumbled in April’s market crash, ETH recovered quickly and remained above $2,500 USD.

One recent key event for Ethereum’s adoption was the European Investment Bank (EIB) announcing the issuance of $121 million USD digital bonds using the Ethereum blockchain.

Some analytsts suggest that growth of Ethereum has been quite organic over the last few months. The Network Value to Transaction (NVT) ratio indicates the relationship between network value and daily transaction volume. In the case of Ethereum, the NVT ratio looks on a downtrend.

This might have been due to a number of factors, including the activation of the Berlin fork or the growing popularity of decentralised exchanges like Uniswap (UNI) requiring Ethereum for many token swaps.

Categories
Australia Crypto News Cryptocurrencies Data

26% Of Aussies are Trading in Cryptocurrency – Nine News Report

A recent report by Nine News claims as much as 26% of Aussies are trading cryptocurrencies.

“Ca$h is King” has been replaced with “Bitcoin is King”, as more and more average people jump on to ride the new wave of digital gold and seek financial freedom.

60 Minutes About Bitcoin by Nine News – source

Market volatility and wild fluctuations in Bitcoin’s price are proving no deterrent for newcommers looking to get into the cryptocurrency space. The industry continues to thrive, despite governments and major corporations around the world continuing their attempts to stifle the innovation of decentralised finance, through rules and regulations; with discussion of some countries even wanting to ban cryptocurrency altogether.

Aussie Crypto Entrepreneur Sergei Has Made Over $100 Million in Bitcoin

The Nine News story also covers Russian born Sergei Sergienko and his Bitcoin fortune. The popular Clubhouse speaker invested into Bitcoin when it was as low as $6 and has been accumulating and trading it ever since, taking his profits into the millions.

Sergei Sergienko – CEO of Chrono.tech

Aussies Interest In Cryptocurrencies Continues to Grow

The data suggests that crypto is very popular in Australia, as we reported earlier in the year that 45% of Australians invested in crypto “Because it’s going up in value” and an estimated 5 million aussies will own crypto in 2021.

Breaking new records and hitting all time highs, Cryptocurrency Market Capitalization has surpassed $2 trillion. There is now more money circulating in cryptocurrency in this quarter alone, than in the entire preceding year of 2020.

Caitlin Carey – Crypto News Guest Author

Categories
Australia Crypto Exchange Crypto Trackers Swyftx

Aussie Crypto Exchange Swyftx Introduces Portfolio Tracking Feature

Swyftx has introduced a portfolio tracking feature that allows Aussie traders to check their profit/loss status in real-time across all of their holdings.

The new feature will keep track of all 260+ assets on the platform, checking the individual status of every crypto in one place. Some of its key features include:

  • Tracking the status of your portfolio via a widget in the dashboard.
  • Toggle balances between percentage and AUD value.
  • Historical account value, toggling timeframes between 1 year, six months, and one week.

This feature comes after heavy demand for a crypto portfolio tracker, now available on the Swyftx platform. Some users have experience malfunctioning with the application; however, they may need to update it in their account settings.

Swyftx Breaks Record Growth

With over 60,000 users, Swyftx has seen record growth in the first quarter of this year, becoming one of the leading crypto exchanges in the country, together with Binance Australia.

Swyftx users can also import their trades using CoinTracking, which recently added support for all Swyftx users to reduce the hours spent filling out spreadsheets to comply with tax office requirements.

Categories
Australia Crypto News Cryptocurrencies Investing

Aussie Crypto ETF Could Launch On The ASX in 2021

As reported by Business Insider Australia, the ASX could launch a cryptocurrency-based exchange-traded fund (ETF) as soon as this year.

Although they have not specified exactly when it will go live or which companies are applying as providers, they have confirmed that they have been “spending an enormous amount of time” focusing on the digital assets space.

Huge Demand for Crypto In Australia

According to Max Cunningham – Executive General Manager at ASX – recent developments in Canada, Europe and elsewhere have compelled the ASX to look into the creation of a local ETF for cryptos

I think there’s an inherent obligation for us and the regulator and other key decision-makers to ensure that, if these assets are broadly being sought by retail investors, that we not only have the safeguards in place but that we have good transparent and low-cost mechanisms for them to access it.

Max Cunningham, Executive General Manager at ASX
ASX General Manager of Listings Max Cunningham – source

Cunningham wouldn’t be drawn on the issue, but would say that the huge demand for cryptocurrencies like Bitcoin and Ethereum meant that Australians were going to buy it one way or another.

Business Insider Australia

The ASX is Turning Pro Crypto

Mr Cunningham also stated that the commonly held opinion of the ASX having a negative view of cryptocurrencies is false.

Because we were turning down a number of spurious offerings five or six years ago, there’s a perception that we have banned this asset class, and we have categorically not got a ban on it.

Max Cunningham, Executive General Manager at ASX

Joke Coins Will Not Make the Cut

He also went on to say certain cryptocurrencies bring concerns for price manipulation. Certain “coins being established as jokes” that show great volatility “just by someone putting a tweet out” seem therefore unlikely to make the cut to get listed.

Despite the forms and spreadsheets to be filled before an Aussie crypto ETF can be established, it looks like investors might be able to buy cryptos from sources other than the usual exchanges in a not distant future.

What is a Crypto ETF?

An exchange-traded fund (ETF) is a type of investment fund. […] An ETF holds assets such as stocks, bonds, currencies, and/or commodities. […] Most ETFs are index funds, that is, they hold the same securities in the same proportions as a certain stock market index or bond market index.

What is an ETF? Wikipedia

Bitcoin ETFs are exchange-traded funds that track the value of Bitcoin and trade on traditional market exchanges rather than cryptocurrency exchanges. They allow investors to invest in bitcoin without having to go through the hassle of using a cryptocurrency exchange while providing leverage to its price.

Using pooled investment funds, the funds purchase the actual bitcoins and hold them in “cold storage” — an offline destination that can’t easily be hacked or breached. The ETFs then track the performance of bitcoin in US dollars (or such) on a specific index.

Further Benefits of buying Bitcoin through an ETF include:

  • Trading flexibility
  • Portfolio diversification and risk management
  • Lower costs
  • Tax benefits
  • Familiar investment structure