November 2015 Update

I hope everyone had a win on the Melbourne cup.

The president, Adam, went to the Melbourne Meetup on Thursday 26th November to give an update about what the BAA is up to. Normally these updates are welcomed by the community, sometimes they’re not.

barking bandicoot

Everyone is entitled to their own opinions and views on how bitcoin should exist. However, all members of the board are purely volunteers. Its easy to sit behind your keyboard and make these kind of statements. I personally this month have organised a meetup, got a number of people online and had a few phone conversations with newbies. While I’m sure most of us would agree that a centralised model might not be the best form of government, a fully decentralised one might not suite everyone either. Without an Association to assist new users, the rate of bitcoin adoption might be significantly less.

Is this what we want?

Note – Mr Bandicoot did not attend the meetup.

We have been given a great opportunity to run a series of bitcoin and blockchain work shops at a large international company in Sydney. All speakers are involved with the BAA and will be paid for their time and expertise in preparation for this event. We are grateful for their participation. Its great to see more and more companies becoming aware of bitcoin and blockchain technologies.

Update – Although we couldn’t reach terms for this particular event we see this as a great template for all organisations in the future. A paid presentation such as this has several advantages for all involved.

1/ It gives the organisation a flying start on their understanding of this technology and how they can use it within their business

2/ It reinvests income into skilled and knowledgable local bitcoin talent.

3/ It adds the the BAA’s bottom line which enables us to further our reach in bitcoin education.


Our wonderful Vice President Adriana recently presented at BuzzConf, the world’s first emerging technology festival, held in Ballan, Victorion on November. Her non-technical presentation covered the basics of Bitcoin, blockchain use cases and market opportunities. The general feedback was that it was really interesting to learn how her interest in Bitcoin stems from growing up in Brazil, living through economic turmoil and hyperinflation and how government experimentation with virtual currency to solve that same problem gave her at a very early age a different, broader view of currency as a system of money.

Nodes –

Our 3 Bitcoin Display Nodes are now up and running. These can be found at MBTC in Melbourne, Tyro Fintech Hub in Sydney and The Battery Shed (Hackerspace) in Launceston TAS. The aim of these nodes is to act as a visual display of the bitcoin network that will prompt discussion, research and ultimately adoption.

The Sydney node also appeared on Channel 7 News – 

Our Microsoft nodes are also running well with high levels of connections. One recently had 55 connections to other nodes in the bitcoin network.

PGP Public keys have also been added to the contacts page.  This will enable encrypted emails to be sent to to protect your privacy.

We also continue to add new membership products, such as the Life Membership. We have trailed a number of discount coupons too.  The Black Friday one was well received and a few new members signed up.

Lastly, we have had some interesting conversations with the Bitcoin Foundation. We have not been impressed by their lack of communication (non existent). Brock Pierce and Bruce Fenton have reached out to see if we would like to stay/return, but to date there has been no detail.

As always, please get in touch if there are any bitcoin events/projects you may have questions about. We had one such question last week and were able to introduce him to several members of the bitcoin community in the hope that they can build a successful project with the help of each other.

We find that a bitcoin business is very different to the regular business landscape. Collaborating in the bitcoin space leads to better and faster outcomes for all involved.


October 2015 update

This month the Bitcoin Association of Australia has made a pledge to be more transparent to its members.  Going forward, we will add monthly updates to the site to share with our members and the community what the BAA have been up to.

The focus of the month has been on getting the membership portal back up and running.  Previously, the Bitcoin Foundation took memberships on our behalf.  We have implemented a simple WooCommerce + bitpos solution to take membership registrations.  Using coloured coins and Colu’s app to issue members tokens on the block chain is also in testing.  Watch this space!

The BAA has also been talking to the Bankers Association regarding the recent press around bitcoin company bank closures.  While bank closure news isn’t new amongst the community, its important that we be vocal about these events, and bring it to the attention of government and regulatory bodies.

Adam represented the BAA and Bitcoin in general at the government program Policy Hack.

Lucas has made improvements to our three bitcoin full nodes to ensure better uptime.  They are hosted in Microsoft’s Australian data centres, located in Sydney and Melbourne.  The host names are


They have been running very well after the improvements, with one getting over 70 connections!  Feel free to connect or seed from them.

The BAA Board


Press Release: Bitcoin Node Day

The inaugural Bitcoin Node Day, to be held on 30 August, is scheduled to be an annual event to raise awareness of bitcoin around the world.  In particular, the role that bitcoin nodes play in the bitcoin network.  Nodes are essentially the backbone of the network, without them, bitcoin would simply not exist.

“The number of bitcoin nodes has seen a long and continued decline” notes Lucas Cullen, organiser of the worldwide event and board member of The Bitcoin Association of Australia.

Although we don’t see the current number of nodes being an immediate security problem for the current transaction volume, it is important we prepare for the next order of magnitude of transaction growth that will occur as adoption grows over the coming years.

“Our aim is to raise awareness of this issue and to outline some easy ways that people can support the network”

These options include;

  • Contributing bitcoin to run a full node,
  • Buying a specifically built hardware node to run at your home or office,
  • Downloading software to your existing computer and allowing it to run as a node.

“We see this as an important issue that needs some attention” says Adam Poulton, President of the BAA, “and the options available on the website are very easy to implement.”

To support this initiative, the BAA will be rolling out operational display models of bitcoin nodes to be housed in locations around Australia that utilize or work with bitcoin on a daily basis.

They will act both as an interesting display piece that promotes bitcoin and the work of the association whilst also playing a vital role in the efficiency of the underlying network.

Nodes work in a similar way to the way that airports process passengers in transit from one flight to the next.

Just as people have their passport checked to ensure they are permitted to travel to a certain country, bitcoin nodes check transactions to ensure they are valid.

Only valid transactions are then sent on to other nodes around the network, if the person is permitted to travel, they will be processed and permitted to board their flight.

An overcrowded airport will result in missed flights, crowded rooms and bags being lost, a drop in the number of nodes could result in a backlog of transactions and slower transition times or illegitimate transactions being included in blocks.

Bitcoin Node Day will be on Sunday 30th August 2015 and will be promoted on social media with the hashtag #bitcoinnodeday

Donations can be made to  3HxRhunzXwszRoqFVFgYyoN6bQGT6vxTrT


Date: 30th August 2015

Contact: Lucas Cullen –


A Farewell Note from Jason Williams

“My involvement in Bitcoin came about towards the end of 2012 when the Silk Road headlines started making the media. I looked into what this was and realised this nascent technology was going to change the world. I consumed every bit of Bitcoin information I could and drove my colleagues crazy with my non stop obsession.

It is from this obsession I’ve seen the community in Sydney and all across Australia grow. It is through this growth and our desire to challenge the status quo that the Australian government has sat up and taken notice. We have, are and will continue to make a difference.

I am personally humbled by the opportunities that have been presented to me. I’ve spoken at many conferences both in Australia and abroad, I’ve consulted on many projects, I’ve been a founding member of the Bitcoin Association of Australia, BitcoinSYD and have met many people that I consider my good friends. I’ve learned a lot and have developed and grown as a person.

As with everything, change is inevitable and it is now my time to pass the torch on.

I am, and will continue to be an active member of the community, and I will retain my close ties with the Bitcoin Association of Australia. The board has my full support and faith they will continue to drive the community forward under new leadership.”

Jason Williams
22 June 2015

Announcement – New Executive Board Appointments

Sydney, 22 June 2015 – We are pleased to announce that during our weekly board meeting held last Tuesday, 16 June, the Executive positions have been instituted as per below:

President – Adam Poulton
Vice-President – Adriana Belotti
Secretary – Christopher Lees
Treasurer – Lauren Ryan

Adam, Adriana, Christopher and Lauren are excited to be taking up the new challenges that their appointments bring and looking forward to rolling up their sleeves to continue the excellent work of their predecessors.

Bitcoin at the AML and Financial Crimes Congress

The GRC Institute held its first ever AML (anti-money laundering) and Financial Crimes Congress over the 19th and 20th of March in Melbourne, Australia.

Topics presented included regulations, law enforcement, FATF (Financial Action Task Force) recommendations, and of course Bitcoin.  The audience included professionals in the AML space from financial institutions around the country.
During day one of the congress Jason Williams presented a 5 minute primer, bringing everyone up to speed on the basics of bitcoin.
After lunch, and the address from AUSTRAC, Jason then presented bitcoin focusing on how transactions work, explaining the blockchain, and why law enforcement shouldn’t be scared by this new emerging technology.
There were several questions from the audience ranging from currency volatility to the advantages for both merchants and consumers.
The overall feeling was that bitcoin is not particularly worrisome, but something that needs to be understood as most people consider this an eventuality rather than a flash in the pan.

Disruptocon 2015

The BAA has partnered with Disruptocon this year to offer members 20% off when registering. The discount code will be sent to all members via our upcoming newsletter.

When: 28-29 April 2015
Where: Swiss Hotel, Sydney
More info:

If you’d like to register prior to receiving the next newsletter, please email us and we will send you the code directly.

About Distuptocon

Harnessing disruptive innovation & injecting start up DNA into your organisation should be a key business objectives- but do you know how?

Every business owner today needs to have a strategy to develop and harness innovation internally. Failing to keep up with current trends means that you may be putting your business at risk of being disrupted by new and more efficient business models.

Over two days the leaders of Australia’s and the world’s disruptive ecosystem will present their strategies, visions and thoughts on how to stay agile, innovative and succeed in the age of disruption.

This event features unique case studies from large corporates regarding their internal start up strategies and including sessions from the experts who have been hired to set them up. This together with keynote presentations from VCs and the investment community on where they are focussing their investments and why will put you in the loop as to where your business sits inside the disruptive ecosystem. Finally hear from market makers – the disruptors themselves – on how they formulated their business models, their key success factors and where they see the market moving.

Andreas M. Antonopoulos testimony for Australian Senate

Wednesday, 4th of March the Australian Senate inquiry chaired by Senator Dastyari heard expert testimony by Andreas Antonopoulos.

Unsurprisingly Andreas espoused the virtues of bitcoin as a game changer with significant opportunity to disrupt current businesses in the finance sector.

In response to the ease in which current regulatory frameworks can be used for bitcoin Antonopoulos indicated existing frameworks could be used, depending on the specific use case.

Specifically mentioned were custodial services that offer bank like products for bitcoin holders could fall under traditional regulation.

He went on to mention new products that can be offered that blurs the lines between traditionally thought of products, where an institution has complete control over deposited funds, to where an institution has partial control as in the case with multi signature addresses.

It is likely current regulation will not cover this very likely use case.

In addressing the issue of anonymity Antonopoulos went on to say that bitcoin offers a perfect forensic ledger of transactions in the form of the blockchain.  That ledger couple with due process and traditional investigative techniques actually makes bitcoin a far worse tool for criminals than completely anonymous traditional cash.

In his closing remarks, when asked whether he saw people using bitcoin type banks, Antonopoulos said that in some markets yes, and in some markets no.

He also remarked that he hopes there is enough innovation in this space to have more people have decentralized control over their money.

Watch Andreas’s full testimony below.

Australian Senate, Economics References Committee Hearings on Digital Currency

On Wednesday 26th November 2014, the Economics References Committee in the Australian Senate held hearings on digital currency including Bitcoin.

The hearing was chaired by Labor Senator Sam Dastyari following guidance issued in August by the Australian Taxation Office that GST will be charged when businesses supply bitcoins or receive bitcoins in return for goods and services.

The Bitcoin Association of Australia submitted our comments to the Senate Economics References Committee for their inquiry into digital currency.
All submissions to the inquiry can be viewed here .

View the Bitcoin Association of Australia submission (PDF).

Here is the full recording of the hearing.