At bitcoin’s all-time high, the pizzas would have been worth an eye-watering $11.47M, making them likely candidates for the most expensive pizzas of all time.
Now widely recognised as the first real-world transaction with bitcoin, May 22nd has come to celebrate ‘Bitcoin Pizza Day’, with cryptocurrency enthusiasts raising a slice to Hanyecz’s infamous hunger pangs that paved the way for early merchant adoption.
RMIT has started a crowdfunding campaign to accelerate their research project aimed at discovering how and why cryptocurrencies are being used in Australia.
Information on the project and the incentive packages available to funders of the crowdsourcing can be found at this link.
Blockchain Australia will be supporting this critical research as the results can offer concise and accurate information to the bitcoin business community on the real world use cases of this new technology and will enable these businesses to tailor their business and services to the users of this technology.
The research will be headed up by Alexia Maddox (Twitter @alexiamadd) from RMIT and is the culmination of a 2 years of work to put this project together. Alexia will be joined by three other RMIT researchers in Supriya Singh, Heather Horst and Greg Adamson.
There where over 50 RSVPs showing the interesting in bitcoin is still as strong as ever. There was even a strong female presence. With a lot of new faces, I hope the attendees found the session useful.
According to Coin Dance, Australian weekly local Bitcoin trading volume just surpassed one million dollars.
Local Bitcoins is a global platform which is the equivalent of the ‘Gumtree’ of Bitcoin traders.
Local Bitcoins is a great way for individuals to start trading bitcoins, but before you start, you must be aware of the risks. Here is what you need to know.
Beware of Bank Transfers or ‘Man In The Middle’ Attacks
A Queensland trader had his life turned upside down by his bank and the Police after thinking he had received bank transfers from people he thought wanted to buy bitcoins.
Upon receiving the bank transfer, he would send out his bitcoins, completing the trade. But, the other person making the bank transfer was actually tricked by a malicious ‘man in the middle’ and upon realising this, they would reverse the payment.
The consumer protection built into the banking system allows for bank transfers to be reversed quite easily. These protections are being used to scam Bitcoin traders out of their bitcoins AND bank balances.
One method Bitcoin traders use to check who are legitimate buyers of Bitcoin is to ask them to take a photo of them holding their ID and a photo of the deposit receipt. However, a digital photo can be easily photoshopped and fake IDs are commonly used.
Unfortunately this is just one way that scammers attempt to get their hands on bitcoins. We will cover some other scenarios in upcoming blog posts.
So, if you’re looking to trade bitcoins – it may be safer to sign up with a reputable Bitcoin exchange, or attend your local Bitcoin meetup at meetup.com!
And if you don’t already have a meetup in your area, why not start organising one today?
To “vote” on the blockchain scaling debate, I personally have changed my full node to Bitcoin Classic from Bitcoin Core.
I won’t go into the scaling debate here, but long story short the bitcoin blockchain has a 1mb limit per block. The bitcoin community have not reached consensus on which of the proposals is the “correct” solution. Ultimately, its up to the community to vote, and we do that by running the client that implements the solution we think should be the future of bitcoin.
The Blockchain Association of Australia, run a full node on Microsoft’s Azure cloud service as a way to contribute back to the community, and ensure there are enough full nodes on the network to propagate and validate transactions. At the moment, this is bitcoin core client. I will put it to the board for a vote to change this to classic.
You can view our full node at bitcoinaa3.cloudapp.net:8333
Continuing our advocacy efforts for all cryptocurrencies and new emerging blockchain related technologies.
The BAA has always been at the forefront of cryptocurrency advocacy since our inception in 2013.
During this time we have lead the advocacy efforts with the senate for taxation issues on cryptocurrencies in Australia, provided education to the professional sector on cryptocurrencies and blockchain technology, and continually strive to spread the message about the potential that blockchains have to offer to disrupt, empower and create new industries.
Although we have advocated for all elements of emerging blockchain technology, our name has not fully reflected our vision. For this reason we have become Blockchain Australia, a new name and brand that is reflective of our mission and is inclusive of the numerous branches of blockchain technology that have been created, since the initial bitcoin blockchain went public in 2009.
Our board brings a wide and comprehensive range of experience in all fields of blockchain technology (from legal through to technical) to our members in the form of:
engaging with government on policy areas affecting blockchain businesses,
providing working technology solutions to various government departments,
customised educational seminars,
partnering with prominent event organisers such as CeBit and Asia Pacific Blockchain Conference,
keeping the community informed,
connecting with regular meetups,
Being the voice for our members in the sector.
We look forward to continued service to our existing members and welcome new members to support our ongoing work.
For those who are new to bitcoin or need a refresher, bitcoin “halving” occurs about every 4 years. This was built in to the protocol to reduce the supply of bitcoins over time, arguably to make bitcoin more scarce. When miners find a block, about every 10 mins, they are paid 25BTC for their efforts. Around the 10th of July this reward is set to halve to 12.5.
Please see the meetup board for your nearest halving party.
Our node bitcoinbaa3.cloudapp.net is running well. We recently upgraded it to core 0.12.1. At one point we had over 100 connections to it!
The colour coin membership development is still ticking along. We have setup our NodeJS endpoint to automate this process.
A slack channel has also been setup to engage with the community. Visit at: bitcoinaustralia.slack.com
Lucas has been busy preparing for the Block Chain summit in Melbourne. Unfortunately Adam could not make this event, due to his recent commitment to run for Senate with VoteFlux.org in Tasmania. This will be a great way to promote the BAA. Note: All flights and accommodation have been paid by the attendee themselves.
As mentioned above, one of our founding members, Max Kaye has recently registered his party VOTEFLUX.ORG | UPGRADE DEMOCRACY! and is fielding candidates in all states at this Federal Election. Adam has been selected as the Tasmanian candidate and is running alongside Max in their effort to gain at least one senate seat.
If elected, a Flux senator promises to vote according to the will of the Flux members as expressed via the Flux App. More info at voteflux.org
In June the BAA were invited to the 2016 Blockchain Summit in Melbourne and given the option to present and be part of a panel discussion on the use of smart contracts and the blockchain in banking. It is great to see so many industry bodies taking notice and getting involved in the event.
The event was insightful with some great presentations. Startups gave their impressions and feedback to the banks for their private chains ideas.
Overall, the dialog was good, open and honest. I was personally impressed by a number and calibre of speakers, and the pragmatic and thoughtful approach taken by some.
I left the summit wondering have we reached a peak? We don’t see this level of excitement around HTML conferences. Time will tell. It will be interesting reading this post after the 3rd halving!