education Archives - Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia

Crypto Daily Roundup – Sep 10, 2018

auscrypto — Mon, 10 Sep 2018 02:00:13 +0000

Every day we collate the hottest Cryptocurrency articles from around the web and social media. Below is our reading list for the past 24 hours.

The post Crypto Daily Roundup – Sep 10, 2018 appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

PRESS RELEASE: New Partnership Sets Out to Educate the SMSF Community in Cryptocurrency Investments

auscrypto — Thu, 06 Sep 2018 06:06:20 +0000

Melbourne, Australia 06 September, 2018 – Cointree one of Australia’s leading cryptocurrency exchanges has partnered up with My SMSF, a specialist provider for property and niche assets. The partnership aims to deliver clarity for people wanting to invest their super in cryptocurrencies.

Cointree is one of Australia’s fastest growing digital currency exchanges with now over 60,000 members. Through their community, affiliates and partners, Cointree continues to see a growing interest in investment opportunities in cryptocurrency using a members Self Managed Super Fund (SMSF ).

What is a self-managed super fund (SMSF)?

An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. SMSFs can have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and compliance with relevant laws. Set up costs and annual running expenses can be high, so it’s most cost-effective if you have a large balance.

“Since our announcement of entering the SMSF space, we have gained a lot of interest from our members and the general public wanting to invest into cryptocurrency using their super,”

says Shane Stevenson, CEO of Cointree.

“The feedback that we’re getting is that there is currently a lack of education in the SMSF industry around cryptocurrency investments. The whole process is a lot simpler than people realise, hence it is important for us to work with the right people to provide better education around cryptocurrency and SMSFs, to build confidence in the market”.

My SMSF is a specialist SMSF administration provider for niche assets. Property, Metals and Diamonds are areas of practice they have a passion for and specialise in . My SMSF has recently added cryptocurrency into their asset offering and are certified bitcoin professionals.

“This is also a great opportunity for My SMSF to able to work directly with a trusted Australian cryptocurrency exchange at this level,”

says Robert Joseph, Director of My SMSF.

“This partnership allows us to share our experience with Cointree, and work with them to build processes, features, and systems to create the most seamless experience possible for our members.”

My SMSF has a dedicated team that focuses on SMSF crypto, the team has a deep knowledge and understanding of crypto, super laws (SIS Act) best practices for SMSF crypto investors and traders. My SMSF also provides the most detailed and comprehensive content around SMSF and crypto, delivered through their website, eBooks and consultancy.

“It was great to know that we are both big advocates for digital currency and investment education, as we also provide an extensive learning hub, which is available on our website for our members,” says Mr Stevenson. “We will now be able to extend our education content into the SMSF space, to further build awareness around the opportunities of investing into crypto using your super”.

Cointree is planning to build tax and SMSF features in its exchange platform to assist members with their compliance obligations, tax returns and audits.

Cointree is making waves in whole Australia’s financial ecosystem

Recently we write about extraordinary partnership between Gobbill & Cointree which lets australians pay their bills with cryptocurrency . This partnership made a huge and positive impact to a global cryptocurrency adoption idea and got thousands of supporters worldwide and media’s attention.

About Cointree

Cointree is one of Australia’s leading digital currency exchanges. It aims to support the widest range of cryptocurrency coins. Founded in 2013, the Melbourne based company has over 60,000 members and transacted over AU$100m worth in digital currencies. The company focuses on making cryptocurrency trading a simple, quick and secure experience. It achieves this by providing learning resources and useful trading tools in everyday language and jargon-free to its members.

Cointree is a registered digital currency exchange with AUSTRAC (the Australian Government regulatory and monitoring body for AML/CTF).

About My SMSF

My SMSF is a specialist SMSF administration provider for niche assets. Crypto, Property, Metals and Diamonds are areas of practice they have a passion for and specialise in. My SMSF have their own AFS license with over ten years experience in the industry.

My SMSF provide services to clients all over Australia by using technology to create efficiency and by using their proprietary software and by communicating via, email, phone and Skype to maintain relationships with our clients.

My SMSF are certified bitcoin professionals, they also have a deep knowledge and understanding of cryptocurrency, super laws (SIS Act) best practices for SMSF crypto investors and traders. Cloud-based accounting and reporting is built into their system. We are a fixed fee provider. We are efficient and quick, we provide phone support at our price point.

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Crypto Daily Roundup – Aug 22, 2018

auscrypto — Wed, 22 Aug 2018 02:04:28 +0000

Every day we collate the hottest Cryptocurrency articles from around the web and social media. Below is our reading list for the past 24 hours.

The post Crypto Daily Roundup – Aug 22, 2018 appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

PRESS RELEASE: CoinGate Develops Cryptocurrency Courses in Partnership with VGTU (University)

auscrypto — Mon, 20 Aug 2018 13:04:20 +0000

The Blockchain technology is among the most important inventions of this century, often compared to the Internet in its significance. But what about Blockchain and crypto education? For over a year, CoinGate has worked with Vilnius Gediminas Technical University on cryptocurrency courses for high school students.

Just a few years ago, Blockchain was rather new and unpopular tech. Few people were aware of cryptocurrencies and even fewer knew about Blockchain applications. However, the tables have turned and Blockchain engineers have become among the most demanded specialists out there . And so, the need for cryptocurrency and Blockchain education emerged. Universities from all over the world have hopped on the Blockchain bandwagon and started offering formal and informal cryptocurrency courses. Furthermore, online learning platforms also entered the space quickly. And that is how all kinds of crypto courses appeared: from general Blockchain classes to trading, cryptography and other tech courses. The cryptocurrency courses are available on most education sites: Coursera, Udemy and Khan Academy, among others.

Why cryptocurrency education is important?

Less than 10 years have passed since Satoshi Nakamoto published the original Bitcoin white-paper. Since then the community has grown exponentially, but many still remember how they were bootstrapping information from forums and private blogs. Cryptocurrencies became a hot topic in 2017, and so the disruptive potential of Blockchain came to the attention of governments and institutions. These days, no one gets surprised when another big business or government invests in applying Blockchain into their operations. Thus, the demand for Blockchain specialists has grown. And that is how the space came to the point when formal crypto education became a necessity.

Read also: Kayamori: “Cryptocurrencies are Evolving Everyday and There’s a lot of Changes Taking Shape”

Every year, more universities are adding cryptocurrency courses to their programs. Some argue it is important to know the basics of this tech, others emphasize financial education. Surprisingly, this does not apply to just IT courses – many MBA programs have added Blockchain courses to their study programs. Even though some universities do not share the belief that Blockchain will inevitably shape the future, the trend is clear. Top universities globally are taking this a step further by opening dedicated Blockchain research and development centres. As the most recent example is a joint collaboration between Columbia University and IBM .

CoinGate invests in Crypto Education

More than a year ago, CoinGate partnered with Vilnius Gediminas Technical University (VGTU) to pilot cryptocurrency courses. Rytis Bieliauskas , Chief Technology Officer, lead these efforts,

“Most importantly, we created a Blockchain program specifically for high school students. While many universities still struggle to implement crypto material, high school students are even less likely to learn Blockchain basics at their alma mater. Understanding the underlying issue, we united with other IT-specialists to provide extracurricular online courses for Lithuanian teenagers.”

Read also: Adventure Capitalist James Rogers Talks on Bitcoin and Blockchain’s “Spectacular Future”

CoinGate CTO Rytis Bieliauskas said,

“Educating teenagers and students on cryptocurrencies and their technology is vital. Recently, Lithuania has become an European hub for Blockchain-companies. The young generation most definitely should explore opportunities presented by this technology.”

About CoinGate

CoinGate is a cryptocurrency exchange based in Lithuania , Europe, which has an amazing pricing for cryptocurrency exchange, you can see this detailed comparison of 7 Bitcoin Payment Processors and their bitcoin conversion rate on Reddit . It currently supports Bitcoin and over 40 different altcoins including most known ones like Ethereum, Litecoin and Ripple. It provides wide exchange rates for whole crypto alternatives listed into forty different fiat currencies. CoinGate so far, has an estimated over 50,000 users from around the world.

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PRESS RELEASE: Binance Academy Beta Launched: Blockchain & Cryptocurrency Education for the World

auscrypto — Wed, 15 Aug 2018 12:44:47 +0000

Binance announced successful launch of Binance Academy beta version, which is an open access learning hub for everyone who are intend to learn about trading, cryptocurrencies, mining and blockchain.

Binance’s aim is to provide a one-stop-shop for blockchain and crypto learning resources, open to anyone and for the benefit of all .

Current topics include Blockchain, Coins & Tokens, Binance, Security, and Trading, with more in the pipeline. Website will increase with content all the time. Actually Binance asks visitors to share their opinion about first look of Binance Academy and its content. You can even submit your own content to Binance editorial team or ask specific topic to be submitted by Binance’s team.

Read also: Binance Allows to Exchange Small Balances Into Binance Coin (BNB)

Stats about Binance

Binance exchange 24 hours trading volume is $1,085,609,590.77 (171,014.69 BTC). This exchange supports 146 crypto currencies and 380 market trading pairs. According to Alexa website traffic analysis this exchange website has 722 rank worldwide.

Binance was founded by Changpeng Zhao and possesses the team with experience in both wall-street and crypto finance and a successful track record of start-ups under us. Binance platform has been already deployed on 30+ exchanges and it is supported on all devices and multiple languages. Capability of processing 1,400,000 orders per second, made Binance have solid relationships with industry leaders and one of the fastest exchange in the market .

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PRESS RELEASE: The State Bank of Vietnam Will Instruct Relevant Units on How to Stop Illegal use of Cryptocurrency

auscrypto — Mon, 13 Aug 2018 10:29:36 +0000

According to recent directive of the SBV Governor on continuing to effectively implement the key tasks and solutions of the banking sector within 2016-2020 The State Bank of Vietnam will begin to instruct relevant units on how to stop possible illegal uses of cryptocurrencies.

All this started since directive 02/CT-NHNN was released. Under the directive, credit institutions and organizations providing intermediary payment services are not allowed to conduct cross-border transactions related to cryptocurrencies which may be abused for money laundering, terrorist financing, tax evasion or fraud . This is an example what kind of information letter local Banks were forced to send to its clients.

Read also: Bank of England: Crypto-assets May Impact How We Maintain Monetary and Financial Stability

2018 August Directive update

According to State Bank of Vietnam relevant units will be instructed on how to further control cryptocurrency-related trading and activities . In addition, they are required to intensify inspections and promptly report on suspicious transactions related to cryptocurrencies as well as those engaged in cryptocurrency trading, otherwise, violators might be fined 150-200 VND (7000-8000USD) penalty .

SBV headquarters.

The Central Bank of Vietnam stipulates that the only legal method for cashless payment in Vietnam is the cheque, payment slip, receipt, bank card and other methods specified by SBV. According to the new criminal law in Vietnam, the provision and use of illegal payment methods may also be a criminal offence.

Read also: Bank of America Admits That Cryptocurrencies are a Threat to It’s Business

List of further activities by State Bank of Vietnam till 2020 regarding non-cash payments

Continue to implement effectively the Scheme on non-cash payment promotion in Vietnam for 2016-2020 period;

implement the Scheme on enhancing payments via banks for the collection of public service fees such as taxes, electricity, water, education, healthcare and social security payments;

urgently finalize the legal framework for payments to meet the practical requirements;

further strengthen the application of high-tech to the payment activities in Vietnam; enhance the supervision of the payment systems to ensure safe and sound banking operations;

strengthen the inspection and handling strictly with any violations regarding the payment activities and payment intermediary services;

instruct relevant units to implement effectively the measures as mentioned in Directive No.02/CT-NHNN dated April 13, 2018 on measures of controlling transactions and activities related to cryptocurrencies.

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Crypto Daily Roundup – Aug 10, 2018

auscrypto — Fri, 10 Aug 2018 02:01:02 +0000

Every day we collate the hottest Cryptocurrency articles from around the web and social media. Below is our reading list for the past 24 hours.

The post Crypto Daily Roundup – Aug 10, 2018 appeared first on Australian Cryptocurrency Enthusiasts - Bitcoin & Ethereum Australia.

PRESS RELEASE: Cardano Smart Contracts Testnet IELE Launches – Run Programs with Increased Confidence

auscrypto — Tue, 31 Jul 2018 07:31:37 +0000

Cardano (ADA) team is excited to announce the IOHK launch of the second Cardano testnet, which is for the IELE virtual machine (VM) and follows the recent launch of the KEVM testnet.

The technology is not only an important step on the Cardano roadmap, but also for the industry – in offering robust and reliable financial infrastructure. Developers now have the opportunity to play around with the smart contracts technology that will eventually be offered as part of Cardano, and to provide their feedback, which we look forward to receiving over the coming months.

Smart contracts in short

Smart contracts are software programs that are immutably stored on the blockchain. They are executed by virtual machines and store their data in that same immutable infrastructure. Smart contracts offer a significant benefit to many businesses looking to optimize their operations. Many industries – including automotive, supply chain, real estate and healthcare – are investing in research to understand how this technology can make their businesses more competitive.

What is IELE?

IELE is a virtual machine, with its attendant low level language, designed to execute smart contracts on the Cardano blockchain. It has been developed by Runtime Verification in partnership with IOHK who provided funding for the project.

The IELE language and its VM is completed. It is now in the process of being integrated into Cardano, which will provide a blockchain to store and retrieve data. While the integration is taking place, developers have the opportunity to use the IELE VM along with the Mallet and Remix Tools to create and execute smart contracts on the IOHK testnet site.

You can also start getting a feel for the capabilities of both IELE and its VM – and even learn to write IELE code directly.

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Additional Video Content:

In this video, IOHK Director of Education Lars Brunjes explains the DAO Attack on Ethereum and shows that the same attack does not work in IELE, which has been designed from the ground up with security in mind .

Image courtesy of https://iohk.io

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The Best Australian Cryptocurrency Exchanges

auscrypto — Sat, 21 Jul 2018 03:01:58 +0000

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A Guide to Cryptocurrency Terminology

auscrypto — Thu, 19 Jul 2018 00:01:38 +0000

Trading Related Terms

Exchange (see collection)
Websites where you can buy and sell crypto-currencies. Some popular exchanges are Binance, Coinbase, Kraken, Coinspot

FIAT
Government-issued currency, such as the US dollar.
https://en.wikipedia.org/wiki/Fiat_money

Whale
Someone that owns absurd amounts of crypto-currency.

Limit order / limit buy / limit sell
Orders placed by traders to buy or sell a crypto-currency when the price meets a certain amount. They can be thought of as ‘for-sale’ signs. These orders are what are bought and sold against when traders place market orders.

Sell wall / buy wall
Using a depth chart, traders can see the current limit buy and sell points. The graphical representation on the depth chart looks like walls: http://media.coindesk.com/uploads/2015/05/image-1.png

Market order / market buy / market sell
A simple purchase or sale on an exchange at the current price. Market buys purchase the cheapest ETH available on the order book, and market sells fill the most expensive buy order on the books.

Margin trading
The act of ‘magnifying’ the intensity of your trades by risking your existing coins. (NOTE: Very risky, only for experienced traders and only on certain exchanges even then)

Going long
A margin trade that profits if the price increases.

Going short
A margin trade that profits if the price decreases.

Bullish
An expectation that price is going to increase.

Bearish
An expectation that price is going to decrease.

ATH
All-Time-High. We’ve gotten a lot of these the past couple months.

Altcoin
Generally any crypto-currency other than Bitcoin or Ethereum. (Though some Bitcoin folks would probably still say Ethereum is an altcoin)

Tokens
Refers to the ‘currency’ of projects built on the ethereum network that have raised money via issuing their own tokens. Examples:
GNT – Golem
REP – Augur
BAT – Basic Attention Token
ICN – Iconomi

ICO
Initial Coin Offering, somewhat similar to an IPO in the non-crypto world. Startups issue their own token in exchange for ether. This is essentially crowdfunding on the ethereum platform.

Shilling / pumping
Someone essentially advertising another crypto-currency. If a coin is promised to cure cancer or be the second coming of Jesus, it’s being shilled.

Stable coin
A crypto-currency with extremely low volatility that can be used to trade against the overall market.

Arbitrage
Taking advantage of a difference in price of the same commodity on two different exchanges. Often mentioned when it comes to comparing ETH prices on Korean exchanges against US exchanges.

FOMO
Fear Of Missing Out. The overwhelming sensation that you need to get on the train when the price of something starts to skyrocket.

FUD
Fear, Uncertainty, and Doubt. Baseless negativity spread intentionally by someone that wants the price of something to drop.

FUDster
Someone that is spreading FUD.

Pump And Dump
The recurring cycle of an altcoin getting a ton of attention, leading to a fast price increase, and then of course followed by a huge crash.

Bagholder
Someone still holding an altcoin after a pump and dump crash. Can also just refer to someone holding a coin that is sinking in value with few future prospects.

Market Cap
The total value held in a crypto-currency. It is calculated by multiplying the total supply of coins by the current price of an individual unit. This site shows a great run-down of each coin’s market cap: http://coinmarketcap.com/

ROI
Return on Investment. The percentage of how much money has been made compared to an initial investment. (i.e., 100% ROI means someone doubled their money).

TA
Trend Analysis or Technical Analysis. Refers to the process of examining current charts in order to predict which way the market will move next.

MACD
Moving Average Convergence Divergence. A trend indicator that shows the relationship between two moving averages of prices. More info: http://www.investopedia.com/terms/m/macd.asp

Bollinger Band
A margin around the price of a crypto that helps indicate when a coin is overbought or oversold. More information available at: http://www.investopedia.com/terms/b/bollingerbands.asp

General Cryptocurrency Terms

blockchain The classification of technology that Ethereum falls into. Blockchains are distributed ledgers, secured by cryptography. They are essentially public databases that everyone can access and read, but the data can only be updated by the data owners. Instead of the data residing on a single centralized server, the data is copied across thousands and thousands of computers worldwide. More detailed information available at: https://en.wikipedia.org/wiki/Blockchain

Node A computer that possesses a copy of the blockchain and is working to maintain it.

Mining
The process of trying to ‘solve’ the next block. It requires obscene amounts of computer processing power to do effectively, but is rewarded with ether.

Mining rig
A computer especially designed for processing proof-of-work blockchains, like Ethereum. They often consist of multiple high-end graphic processors (GPUs) to maximize their processing power.

Fork A situation where a blockchain splits into two separate chains. Forks generally happen in the crypto-world when new ‘governance rules’ are built into the blockchain’s code. Some more information available at: https://en.wikipedia.org/wiki/Blockchain#Hard_forks

PoW
Proof-of-work. The current consensus algorithm used by Ethereum.

PoS
Proof-of-stake (not piece of shit). The proposed future consensus algorithm to be used by Ethereum. Instead of mining in its current form, people that own ETH will be able to ‘lock up’ their ether for a short amount of time in order to ‘vote’ and generate network consensus. The plan is that these stakeholders will be rewarded with ETH by doing so.

sharding
A scaling solution for blockchains. Typically, every node in a blockchain network houses a complete copy of the blockchain. Sharding is a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.

software wallet
Storage for crypto-currency that exists purely as software files on a computer. Software wallets can be generated for free from a variety of sources. MyEtherWallet (MEW) is one of the popular. (more on MEW below)

hardware wallet
A device that can securely store crypto-currency. Hardware wallets are often regarded as the most secure way to hold crypto-currency.

Ledger Nano S / Trezor
Two of the most popular hardware wallet models.

cold storage
The process of moving crypto-currency ‘offline’, as a way of safekeeping your crypto-currency from hacking. There are a variety of ways to do this, but some methods most commonly used:
—Printing out the QR code of a software wallet and storing it somewhere safe, such as a safety deposit box.
—Moving the files of a software wallet onto a USB drive and storing it somewhere safe.
—Using a hardware wallet.

Ethereum Specific Terms

Smart contract
Code that is deployed onto the Ethereum blockchain, often directly interacting with how money flows. Not my quote, but: “A normal transaction allows you to send money from A to B. Smart contracts allow you to send money from A to B, on the condition that C happens.”

Solidity
One of the most popular languages that smart contracts can be written in. Has some similarities to Javascript.

Dapp
Decentralized Application. This refers to an application that uses an Ethereum smart contract as it’s back-end code.

The Flippening
A potential future event wherein Ethereum’s market cap surpasses Bitcoin’s market cap, making Ethereum the most ‘valuable’ crypto-currency. This site shows the progress of the Flippening in real-time: http://www.flippening.watch/

Gas
A measurement of how much processing is required by the ethereum network to process a transaction. Simple transactions, like sending ether to another address, typically do not require much gas. More complex transactions, like deploying a smart contract, require more gas.

Gas price
The amount of ether to be spent for each gas unit on a transaction. The initiator of a transaction chooses and pays the gas price of the transaction. Transactions with higher gas prices are prioritized by the network.

Wei
The smallest denomination of ether. 1 Ether = 1000000000000000000 Wei (10¹⁸⁾

Gwei
Another denomination of ether. Gas prices are most often measured in Gwei. 1 Ether = 1000000000 Gwei. (10⁹⁾

Finney, Szabo
More somewhat common denominations of ether. The full denomination chart: https://ethereum.stackexchange.com/questions/253/the-ether-denominations-are-called-finney-szabo-and-wei-what-who-are-these-na

Raiden Network
An upcoming protocol change to Ethereum that will enable high-speed transfers across the network. It is similar in some aspects to Bitcoin’s planned Lightning Network. The name, I assume, comes from the Mortal Kombat character named Raiden that can shoot lightning. More reading available at: https://themerkle.com/what-is-the-raiden-network/

Frontier, Homestead, Metropolis, Serenity
The four planned stages of the Ethereum development roadmap. We are currently in the Homestead phase. The Metropolis update is likely to be available sometime in the next year.

MEW
MyEtherWallet. A free site that can generate ethereum software wallets for you.

EEA
Enterprise Ethereum Alliance. A coalition of startups and corporations trying to figure out the best way to use this dang thing.

Vitalik Buterin
One of the primary co-founders of Ethereum (and certainly the most well-known). A brief biography is available at: https://en.wikipedia.org/wiki/Vitalik_Buterin

DAO
Decentralized Autonomous Organization. An investor-directed venture capital fund built on the Ethereum network that was hacked in June 2016. The hack stole about a third of the DAO’s funds and led to Ethereum being hard-forked the following month. The DAO is often cited as one of Ethereum’s biggest stumbles thus far.

Memes

Hodl
Long ago, someone on a bitcoin forum got drunk and made a post with this typo in the place of ‘hold’. A meme was born. https://bitcointalk.org/index.php?topic=375643.0

lambo
https://www.lamborghini.com/en-en/
What we’re all going to buy when we’re rich. Obligatory: https://imgur.com/uKKwhcf

This is gentlemen
“This is it, gentlemen”. Used to point out positive things that are currently happening. http://www.urbandictionary.com/define.php?term=This%20is%20gentlemen

Mooning
In the crypto-world, this does not mean exposing your buttocks. It is referring to a price going up astronomical levels.

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