Posted December 12, 2018 01:20:26Australia will soon become the first country to introduce the digital currency bitcoin as a legal tender.
Key points:The Australian government says it will allow people to buy and sell digital currencies in its state-owned postal servicesPostal and bank branches are expected to begin accepting the digital currencies as soon as ChristmasAs of January 2018, the Australian government said that it will introduce a legal form of digital currency to the country’s post office and postal services.
It will allow Australians to buy, sell and trade digital currencies online.
“This is a great step forward for digital currencies and the wider industry in Australia,” Australian Prime Minister Malcolm Turnbull said in a statement.
“We have been working hard to ensure our postal services and banks are ready to implement digital currencies.”
As a result of the Australian Government’s commitment to the digital economy, we have now made it a statutory requirement for all of our post offices and post offices branches to be able to accept bitcoin as payment for goods and services.”‘
Not the answer’The Australian postal service is not the only one to be considering bitcoin as part of its payment systems.
In September, the US Postal Service said it would be accepting bitcoin as of January 1, 2018.
The US Department of Treasury has already issued guidance to federal agencies that allows them to accept the digital cryptocurrency, but a spokesman for the Treasury said it was not the answer to Australia’s payment problems.”
The Treasury Department’s approach to this issue is to look at all the factors, including the cost and volatility, of the digital transaction,” the spokesman said.”
However, the Department has not made any final decisions and does not expect to do so in the foreseeable future.
“Australia’s post offices are also expected to start accepting bitcoin within the next few weeks, with the first customers expected to arrive at the end of January.”
Once bitcoin is accepted by the Australian postal services, the value of bitcoin will increase by a factor of five per cent and the value will reach $2,000 by the end.
“In addition, the payment processing costs will be significantly reduced as the number of merchants accepting bitcoin decreases,” the statement said.
Bitcoin is the most popular digital currency in the world, but there are some serious issues surrounding its legality in Australia.
Some states, such as New South Wales, have already banned its use as payment, while others have raised questions about how it would work in Australia, with some banks refusing to accept it.
Topics:money-and-monetary-policy,government-and/or-politics,bitcoin,internet-technology,bitcoin-economy,digital-currency,bitcoiners-group,digital currencies,bitcoiner-groups-groupsource Crypto Coins Sports title Bitcoin to replace US dollar as global currency article Posted November 19, 2018 06:29:26Bitcoin has been gaining in popularity in recent years.
But now, with more and more countries in the West moving towards acceptance, the cryptocurrency is now looking like it could be on the verge of becoming the world’s new reserve currency.
But that hasn’t stopped a group of Australian citizens from looking to convert their US dollar into bitcoin.
Key point:A group of Australians are planning to convert US dollars into bitcoins after the US Dollar officially ends its official life in December.
The group says the currency is safer than the US dollarThe group, known as the Bitcoin Reserve, has launched an online crowdfunding campaign to fund a series of projects designed to convert Australian dollars into the digital crypto-currency.
The project is set to launch in the next two weeks, and it aims to “expose” Australian dollars to the global currency.
“It’s a pretty good investment and we’ve found a way to make it a bit more accessible than we could before,” founder and chief executive of Bitcoin Reserve Alexey Vovchenko told ABC News.
“And it’s something that we think is a bit safer than we can say US dollars, that’s why we’re trying to raise $20,000 to help us do that.”
The group is set up by Australians who want to convert the currency to Bitcoin.
“Australia has a long history of supporting digital currencies, but we’re hoping to change that,” Mr Vovchanchenko said.
The Bitcoin Reserve is an organisation of Australian bitcoin enthusiasts and Bitcoin enthusiasts.
It was formed in 2014, with Mr Vovachenko as its first board member.
The company is not just interested in helping to fund its digital currency project.
“What we are interested in is the way Bitcoin works, we’re interested in how it’s being used, we want to get into the business of educating people,” Mr Fink said.
He added that the group’s website will be open until December 31 and it intends to launch a new crowdfunding campaign at the beginning of January to raise funds to pay for its various projects.
“I’m really happy with where Bitcoin is going right now, I really think that we