This week saw the launch of the Royal Commission into the banking industry. Anything that affects the banks is likely to affect the entire Australian share market. The Commonwealth Bank is Australia’s largest company by market capitalisation. Combined, the banks make up a third of our share market. A loss of confidence could be catastrophic.
South Korea isn’t the first nation to consider banning bitcoin, but it could be the most significant. A large portion of bitcoin’s global demand comes from the country. This isn’t the first time that a major government has threatened to ban it. It likely won’t be the last. Years from now, this may be looked back on as an incredible buying opportunity.
While bitcoin was going through a massive pullback in December, another cryptocurrency was smashing records. This tiny crypto saw a 357% gain in just one month. Its market cap blew through a billion US dollars, and shows no signs of slowing. The problem is, it’s a joke.
Bitcoin may have paved the way, but the blockchain technology it’s founded upon is free for anyone to use. Blockchain technology is here to stay.
If you feel a little hesitant, I don’t blame you. But you shouldn't dismiss crypto as untenable or as the playground of scammers and criminals.
Owning and purchasing bitcoin is currently legal in Venezuela. Though, it’s unclear whether using bitcoin for foreign trade will always be allowed.
Where was the panic? Where were all the think pieces about the dangers of Australia’s economy being so strongly focused on selling iron ore to China?
I’ve given up on the great Australian dream. Like most Australians, I was raised to view home ownership as a rite of passage.