7 years, 10 months ago

there's a new kid on the blockchain

The digital currency bitcoin has broken new records - surging by more than 245 per cent since the start of the year. Key points: Total cryptocurrency market is worth $US75b The top ten currencies have a 94 per cent market share Government will make changes to GST so bitcoin transactions are not double taxed In just five months, the price of one bitcoin rose from $1,337 to its all-time-high of $3,704 on May 25. "We've had the total market capitalisation of all cryptocurrencies rising three-fold this year - from around US$25 billion to now US$75 billion," according to Steve Sammartino, entrepreneur and technology author. The ten largest cryptocurrencies are worth more than $95 billion - approximately 94 per cent of the total market share. The future of cryptocurrencies Although Mr Sammartino considers bitcoin, ethereum and the wider cryptocurrency market is in a bubble, he believes they are the future of payment systems.

ABC
Technology Market Cryptocurrency Blockchain Cryptocurrencies Sec Cent Sammartino Eea Bitcoin Ethereum Mr Sammartino
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