Tag Archives: Australia

Melbourne residents turn unused car parks into cash

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“The growing deficit and high cost of parking in much of Melbourne is behind the emergence of a new online marketplace where residents lease unused private spaces to motorists who need a spot to park.  Home owners and renters have begun leasing spare space in their garages and driveways, in apartment building car parks and even on the street, to people who drive each day to areas that lack adequate parking.  Space in an underground car park in a CBD apartment building was leased this month in a transaction using bitcoin, the digital currency. North Fitzroy woman Amy Martin leased an Exhibition Street parking space for three months for 1.25 bitcoins, or $900.”

http://news.drive.com.au/drive/motor-news/melbourne-residents-turn-unused-car-parks-into-cash-20131226-2zxoq.html

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Bitcoin ATMs For Australia, The First In Melbourne

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“A local exchange plans the first Bitcoin ATMs in Australia starting with Melbourne.  And 21st Century Bitcoin Exchange says discussions will start soon with the government on regulating the Bitcoin market.  ‘With Bitcoins revolutionising traditional monetary transactions, Australia-based 21st Century Bitcoin Exchange is the first company to set up a Bitcoin ATM in the country,’ the company said in a written statement.  The company, which established www.bxe.com.au, is backed by 21st Century Media and Education Group of Companies and US Company International Operations LLC.”

http://www.businessinsider.com.au/bitcoin-atms-for-australia-the-first-in-melbourne-2013-12

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Australian Bank Publishes Report ‘Bitcoin to replace AUD?’

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“The National Australia Bank (NAB), one of Australia’s ‘Big Four’ banking groups, published a three-page research paper on 19th December titled ‘Bitcoin to replace AUD?’ (Australian dollars).  Despite the provocative title, the paper does not suggest replacing the national currency with bitcoin, nor say it could happen in the near future. Rather, it is an explanation of bitcoin and a comparison of the nature of digital currencies with existing sovereign currencies, and how they fit into the current international financial system.  Bitcoin could well become a widely accepted medium of exchange, the paper said, but it would take many more years to achieve mainstream acceptance.”

http://www.coindesk.com/australian-bank-report-bitcoin-replace-dollars/

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$1.4m Perth home put on the market for digital currency Bitcoin

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“A five-bedroom Perth Hills property for $1.4 million that overlooks a lake and has air-conditioning, a pool, timber decking and even a wood-fired pizza oven. The only catch: the owner must be paid in a digital currency known as bitcoin.  The sale, which would make the property the first in Australia to be sold for bitcoin, is the latest sign WA is embracing digital dollars.  But even bitcoin enthusiasts have been shocked by the offer, as the value of the currency fluctuates wildly.  Perth businessman Bret Treasure, 53, chairman of the Australian Web Industry Association and a board member of Bitcoin Australia, believes it’s the first bitcoin house sale in Australia.”

http://www.theaustralian.com.au/news/m-perth-home-put-on-the-market-for-digital-currency-bitcoin/story-e6frg6n6-1226788071548

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Central banker: Aussie dollar needs to fall further

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“Reserve Bank of Australia governor Glenn Stevens has indicated he wants an Aussie dollar closer to 85 US cents, while pointing to ‘promising signs’ that the economy is transitioning away from the mining boom.  But he said that turning the lower currency into a real depreciation that spurs growth would require real wage cuts.  ‘I thought [US]85 cents would be closer to the mark than [US]95 cents . . .but really, I don’t think we can be that precise.  I just think that if things over the medium term evolve as we’re presently assuming – and I think it’s reasonable to make these assumptions – it’s going to be surprising if a nine at the front is the right number,’ he said.”

http://www.smh.com.au/business/the-economy/glenn-stevens-says-aussie-dollar-needs-to-fall-further-20131213-2zapf.html

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Central Banks in New Zealand and Australia Issue Bitcoin Warning

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“Representatives from the central banks of New Zealand and Australia have issued their own official warnings on bitcoin, terming the currency ‘interesting, but risky’.  John McDermott, assistant governor at the Reserve Bank of New Zealand (RBNZ), said banks and businesses should ‘tread very carefully’ with the digital currency, in a report by the Wall Street Journal.   RBNZ Governor Graeme Wheeler cited price volatility as a cause for concern.  Next door, the governor of the Reserve Bank of Australia, Glenn Stevens, said he was ‘still trying to understand’ the cryptocurrency during an interview with theAustralian Financial Review.”

http://www.coindesk.com/central-bank-new-zealand-australia-bitcoin-warning/

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CoinJar Receives Australia’s First Major Bitcoin Investment

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“Leading the investment is Niki Scevak of Blackbird Ventures. Other investors include entrepreneur Torsten Hoffman; RetailMeNot founders, Guy King and Bevan Clark; game developer Rob Murray; and serial technology investor Chris Hitchen.  The combined investment is reportedly in the region of $500,000 AUD.  The Melbourne based startup co-founded by Asher Tan and Ryan Zhou operates a platform where users can buy, sell and transact in bitcoin. It also provides merchant services for those looking to accept bitcoin as a medium of payment.  Bitcoin companies have gained strong interest from venture capital firms around the world.”

http://www.digitaljournal.com/pr/1615996

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38,000 Australians take ANZ bank to Federal Court over banking fees

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“The largest consumer class action in Australian history begins in the Federal Court in Melbourne today as 38,000 ANZ customers appeal over the bank’s fees.  Law firm Maurice Blackburn is taking the action on behalf of ANZ customers, with the court set to examine whether the fees are fair or whether they are excessive and therefore illegal.  A High Court decision last year paved the way for the trial in the Federal Court.  Maurice Blackburn has the financial backing of publicly listed litigator IMF.  Andrew Watson, the head of class actions at Maurice Blackburn, says the fees are not an accurate reflection of the costs faced by banks when customers are caught out.”

http://www.abc.net.au/news/2013-12-02/class-action-over-anz-bank-fees/5126286

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Australian central bank’s talk of intervention sends Aussie dollar down

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“The overnight fall in the Australian dollar shows once again that just a few carefully targeted words from Reserve Bank governor Glenn Stevens have the power to move markets.  While Mr Stevens did not say the Reserve Bank was about to intervene to pull the dollar down, his comment that the option was in the monetary policy ‘toolkit’ proves that words from the central bank governor can be timely bullets.  The impact-laden comments show the RBA’s frustration in its attempts to lower the dollar, despite 2.25 percentage points of cuts to the official cash rate since late 2011.”

http://www.abc.net.au/news/2013-11-22/glenn-stevens-jawboning-moves-currency-markets/5111212

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Aussie car start-up hits the road with Bitcoin

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“At a time when Australia’s biggest vehicle manufacturers have to be subsidised to the tune of $200 million a year to survive, how is it that a mere slip of a car maker based in Melbourne says the sky’s the limit?  Tomcar Australia just may be the future of manufacturing – small and focused on niche market segments to cater for individual needs rather than the mass market. Tomcar sees itself as a disrupter – no car showrooms, no dealers, no middlemen. In this light, it’s perhaps no surprise that it also accepts virtual currency. The company, which has fewer than a dozen staff, is the first car maker to accept the internet currency known as Bitcoin.”

http://www.theage.com.au/small-business/entrepreneur/car-startup-hits-the-road-20131107-2×498.html

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