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Increased transaction fees represent a minor advancement in the ability of Bitcoin miners to maintain their operations independently of block subsidies. Block number 788695 has a significant meaning for Bitcoin miners due to the recent upsurge in transaction fees. It represents the first instance since 2017 where transaction fees in a single block exceeded the block rewards given to miners. In this block, transaction fees amounted to 6.7 Bitcoin, surpassing the block subsidy of 6.25 Bitcoin. While the...
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War Between Russia And Ukraine Spurs Cryptocurrency Activity According to Chainalysis, an American blockchain analysis firm that aids its customers in blockchain analysis, cryptocurrency-related activity in both Ukraine and Russia has increased as a result of the deadly conflict between the two nations.      Due to interest rate hikes to curb increasing fiat inflation as well as numerous sanctions as a result of the ongoing war has led to several spikes in cryptocurrency transaction volumes this year,...
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How Australian Cryptocurrency Investors Have Benefited From A Rising USD   The US dollar (USD) has strengthened significantly over the course of 2022 as the Federal Reserve hiked interest rates in an effort to quash hyperinflation. The U.S. Dollar Index, which measures the greenback against a basket of other currencies, is up nearly 18% so far this year.   As a result of these aggressive US Federal Reserve interest rate hikes, the Australian dollar has traded at a...
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Australia’s Central Bank Digital Currency Pilot To Be Completed In 2023   The Reserve Bank of Australia (RBA) is expecting to push forward with its central bank digital currency (CBDC) pilot by mid-2023, according to a white paper published on Monday.   The purpose of the pilot is to “explore innovative use cases” that could be supported by the issuance of a CBDC, a media release said.   The plan, according to the Reserve Bank of Australia (RBA),...
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Finder Founder Fred Schebesta Says Australia Rushing “Token Mapping” Could Hurt The Space   Australia cryptocurrency entrepreneur, Fred Schebesta, has stated that whilst the token mapping by the Australian government is “wonderful”, he warns it could lead to some detrimental effects on the space and wider economy.    You can read about the government’s prioritising of this toking mapping in our article here.    Fred is the co-founder of Finder – Australia’s leading comparison website and a global...
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Australian Senator Andrew Bragg Proposes Cryptocurrency Bill Targeting China’s Central Bank Digital Currency   Australian Liberal Politician Andrew Bragg wants to prepare Australia for the widespread use of China’s central bank digital currency (CBDC), the digital yuan.     On Monday, a draft of the digital assets Bill was introduced, being a Bill for an Act to provide for the regulation of activities relating to digital assets and reporting by certain banks that facilitate digital Yuan, and for...
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