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What's behind the jumps and bumps in Bitcoin's price? - ABC

The price of Bitcoin has dropped to around $8,000 in the past few days, after almost hitting $10,000 in the past month, and rising more than 1,850 per cent since 2015 .

All of this shows how volatile the currency is, prompting the question, what leads to such huge movements?

Our ongoing research reveals four factors that affect the price of Bitcoin.

These include media hype and uptake by peers,...

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Date: 2017-12-30 08:12:19

Bitcoin mining likely uses more energy than it takes to ...

Map: Australia

The recent upsurge in the price of Bitcoin seems to have finally awakened the world to the massively destructive environmental consequences of this bubble.

These consequences were pointed out as long ago as 2013 by Australian sustainability analyst and entrepreneur Guy Lane, executive director of the Long Future Foundation .

In recent months, the Bitcoin bubble has got massively...

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Date: 2018-01-11 22:43:39

Bitcoin: Regulation vacuum leaves banks 'unwilling to work ...

Analysts say the high demand for digital currencies like Bitcoin makes it near inevitable that Australian authorities will be forced to regulate the industry.

What is Bitcoin?

A digital cryptocurrency

It operates on a decentralised peer-to-peer network, with no central authority or government backing

They can be bought with fiat currencies like Australian dollars from online exchanges or created...

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Date: 2018-01-30 19:08:02

Related topics : digital currency like bitcoin / online currency exchange bitcoin / bitcoin digital currency exchange / australian digital currency association / new bitcoin like currency

Bitcoin: What the bubble tells us about ourselves - ABC ...

Analysts are sceptical of Bitcoin's meteoric rise. Here's why some are predicting a crash, and what that would mean.

Usually, when it comes to investing, there is some kind of benchmark used to value an asset, such as profit, rent or dividend.

People often disagree over the value of the benchmark; whether a share should be priced at 10 or 15 times its dividend.

In the case of bitcoin, there is no...

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Date: 2018-01-30 18:43:46

Related topics : bitcoin new global currency / bitcoin currency of the future / bitcoin buy price today / bitcoin trading currency market / bitcoin buy price history

RBA warns bitcoin is a 'speculative mania', talks down ...

Map: Australia

The Reserve Bank governor has talked down the chances of a Government-issued cryptocurrency, despite a massive increase in electronic transactions.

In a speech in Sydney, Dr Philip Lowe said the major cryptocurrencies are not very effective as a way to pay for things, with high transaction costs, including the massive amounts of energy needed to "mine" them .

"When thought of...

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Date: 2018-01-11 20:41:32

Related topics : electronic currency payment system / how to make bitcoin payment system / new bitcoin like currency / electronic currency bitcoin / bitcoin banking system