What is the exchange rate of AUD (Australian Dollar) / USD (US Dollar) on Monday August 24, 2020

What is the exchange rate of AUD (Australian Dollar) / USD (US Dollar) on Monday August 24, 2020

AUD USD exchange rate

Get the current mid-market rate for AUD (Australian Dollar) / USD (US Dollar) for Monday August 24, 2020 right here.

The latest rates for AUD (Australian Dollar) / USD (US Dollar) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest forex market data to bring you live information to help you make the best forex trading decisions every day.

Monday August 24, 2020 1 AUD (Australian Dollar) is 0.719295 of USD (US Dollar) .

Remember to always trade using a reputable broker. It’s also possible to apply many forex concepts to cryptocurrency trading.

Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.

Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example AUD (Australian Dollar) and a quote currency, which would be USD (US Dollar).

The price of a currency pair represents the amount of quote currency, or USD (US Dollar), that you will need to spend in order to purchase a single unit of AUD (Australian Dollar), the base currency. So using the current example you would need to spend 0.719295 of USD (US Dollar) in order to purchase 1 AUD (Australian Dollar).

Forex pairs can be grouped into three main categories; the majors, the commodity currencies, and the cross currencies:

  • Major currencies are the most commonly traded currencies on the market. Different publications will use different criteria but pretty much every list will include EUR/USD, USD/JPY, GBP/USD, and USD/CHF
  • ll Commodity currencies are currency pairs that are closely linked to commodities such as oil, iron ore, and coal. Common examples include AUD/USD and USD/CAD
  • Cross currencies include all currency pairs that don’t include USD. Examples include EUR/GBP and EUR/JPY.
  • Cryptocurrency trading shares many similarities to forex trading. Specifically the concepts of currency pairs and high price volatility. That being said there are some key differences. Cryptocurrencies don’t operate like fiat currency and many are tied to a project or product. The crypto market is also highly unregulated, which makes it inherently risky compared to trading forex.

    Additionally most cryptocurrency trades happen on exchanges. These are generally unregulated and come with a certain degree of risk that many investors would find unacceptable. One alternative is to trade using a CFD broker which allows crypto pairings, but this means you will not directly own and cryptocurrency you buy.

    Source: born2invest.com


    Signs of Bullish Crypto Market Expectations‌‌ | Bitcoin News Summary Aug 24, 2020

    Signs of Bullish Crypto Market Expectations‌‌ | Bitcoin News Summary Aug 24, 2020

    The cryptocurrency market valuation has almost doubled year to date. Then why are XRP and BCH, two of the top 10 cryptocurrencies, down by more than 90 percent since hitting ATH, while all other coins are posting high returns?

    Can it be attributed to diminishing investment interest and community support? Or perhaps, the increasing trust in public and genuinely decentralized blockchains like Bitcoin, Ethereum, etc.

    Despite being in the top 10, XRP and BCH are still down more than 90 percent from their all-time high market prices of around $2 and $2400, respectively.

    It is interesting to note that with a 32,000 percent raise and was one of the best performing cryptocurrencies of 2017. Ripple’s ‘decentralized token’ was so hot then, that CNBC hosted a show to help people buy ‘one of Bitcoin’s hottest competitors.

    Bitcoin Cash (BCH), too, was hot out of a Bitcoin hard fork, and investors lapped up Roger Ver’s coin based on lofty promises made by the Bitcoin Jesus.

    But then why were both these hotshot large-cap bluechip ‘cryptos’ unable to continue the rally or at least spike upwards in unison with the market recovery this year?

    Ex-Ripple founder Jed McCaleb has been dumping XRPs on the open market since he left Ripple. He received 5.3 billion XRP while leaving the company, and 100 billion XRP in September. This has caused a very unpleasant sentiment amongst investors in the XRP community.

    In response, a significant portion of the community has jumped ships abandoning all support for XRP. According to recent data, around 64 percent of the ‘Ripple’ Telegram have left since June 2018.

    Community Capitulation

    (Whaleclub went private so it’s the most accurate number for existing members after 2017 bull run)

    Member loss is from June 2018 till April 2020 pic.twitter.com/Cy19Nz0PoS

    — Aztek_Ƀtc (@Aztek_btc) April 15, 2020

    Also, in January this year, Ripple CEO Brad Garlinghouse hinted at an upcoming IPO for the company. This has left investors confused about the value of the XRP token.

    Apart from this, XRP’s equivocal status as security (or not) has left investors disillusioned. Although, US Congressman Tom Emmer recently remarked about XRP not being a security, the same is not official.

    Online interest regarding XRP has ceased to exist. Almost. Data from Google Trends show that search interest in XRP peaked during the asset’s market bullish stance from December 2017 – January 2018. But after that, it’s a lackluster show.

    When Bitcoin Cash hard forked from Bitcoin, to improve upon and fulfill the former’s ‘original objective,’ just a few numbers of BCH could have been exchanged for one whole BTC. Those days are long gone.

    Gradually the Bitcoin Cash ecosystem has depreciated in market value as well as overall health. Yassine Elmandjra, a crypto asset analyst, tweeted in May about the same.

    Bitcoin Cash is not looking healthy:

    -Hashrate down 30% since halving (& only accounts for ~2% of SHA256 hash)
    -Economic throughput at all time lows
    -Fees are .05% of miner rev (<$100/day)
    -Theoretical 51% attack costs <$10k/hr

    Surprised we haven’t seen a large scale attack yet

    — Yassine Elmandjra (@yassineARK) May 23, 2020

    However, the cost/hour of a 51 percent attack has increased to $14,005 according to the latest data. Miners have been leaving the BCH mining system and switching over to Bitcoin.

    This may have been accelerated by a 12.5 percent tax proposal put forward by a BCH ecosystem member. The proposal was annulled, but again it showed dissonance amongst the core administrative and developer teams.

    Over the last three years, the altcoin has become heavily centralized and has not seen any significant development activity nor can be logically scaled to boost use cases, as per Adamant Capital founder, Tuur Demeester.

    With XRP and BCH having lost more than 90 percent of their prices since 2017, is there still hope left for the two crypto coins in the future? Only time will tell. Holders of both cryptocurrencies should keep an eye out.

    Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.

    Source: https://cryptopotato.com/xrp-and-bch-the-story-behind-the-2-only-top-10-that-are-still-90-below-ath/

    Source: news.coingenius.ai

    Author: Published 15 hours ago on August 24, 2020

    By Republished by Plato


    Crypto Derivatives Exchange BitMEX to Block Ontario Traders

    Crypto Derivatives Exchange BitMEX to Block Ontario Traders

    BitMEX, one of the oldest cryptocurrency derivatives exchanges, is to block users in one Canadian province.

    • According to a blog post on Monday, customers based in Ontario, Canada, will no longer be able to use the trading platform as of Sept. 1, 2020.
    • New derivatives positions may not be opened after that date, while positions that are already open may run till Jan. 4, 2021.
    • BitMEX said it would force-close positions open at that point and requested users to close them prior to the shutoff date.
    • A precise reason why the block on Ontario users was brought in was not disclosed, but the exchange said it was “mandated” by the state’s securities regulator, the Ontario Securities Commission.
    • Ontario users trying to register and trade on BitMEX after Sept. 1 would be in breach of the firm’s Terms of Service, per the post.
    • The news comes as the sometimes controversial exchange moves to become more compliant with regulators, having brought in compulsory “know-your-customer” verification procedures earlier this month.
    • The exchange has barred U.S.-based users from its platform since 2015, and recently blocked traders in Hong Kong, Bermuda and Seychelles.
    • Based in Eden Island, BitMEX has sometimes been criticized for offering traders high levels of leverage.
    • The exchange’s parent firm recently changed its name to “100x,” though claimed it was not a reference to leverage at the time.
    • Crypto Derivatives Exchange BitMEX to Block Ontario Traders
    • Crypto Derivatives Exchange BitMEX to Block Ontario Traders
    • Crypto Derivatives Exchange BitMEX to Block Ontario Traders
    • Crypto Derivatives Exchange BitMEX to Block Ontario Traders

    Source: finance.yahoo.com

    Author: Daniel Palmer


    New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow

    New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow

    Governments are injecting record levels of new money into economies to contain the impact of shutdowns. Restrictions imposed on people in countries all over the world have forced many to look for alternative but safe ways of transacting. This is one reason why blind escrow bitcoin cash trading is increasing: it is not burdening users with KYC requirements.

    Some countries hit hard by the pandemic like the United States, have reportedly printed more money in less than six months than they have in several decades.

    Without a doubt, the deluge of new money entering the system will have dilutive effects on the value of money already in circulation. This has inevitability spurred on an increased interest in cryptocurrencies.

    Similarly, the restrictions imposed on people’s movement have forced many to look for alternative but safe ways of transacting. That is why the recent increase in the number of cryptocurrency holders is in some ways linked to lockdown measures.

    Events of the past few months have made it increasingly apparent that cryptocurrencies are not just speculative assets. They can be used as practical tools to shield savings or wealth from the effects of inflation. Furthermore, the use of cryptocurrencies fit very well with social distancing or stay-at-home measures.

    Yet despite this, many people face obstacles to getting cryptocurrencies for the first time. Even those with adequate knowledge about this fintech still face difficulties in acquiring these.

    It is true that cryptocurrencies are widely available at centralized cryptocurrency exchanges and at peer to peer trading platforms. However, these institutions use elaborate and sometimes cumbersome procedures that ultimately kill the interest of those searching for such alternatives.

    For instance, the know your customer (KYC) processes, which are now a mandatory requirement with many leading exchanges, drive people away from cryptocurrencies.

    Ordinarily, cryptocurrencies like bitcoin cash are not supposed to be subjected to such restrictions. Satoshi Nakamoto’s vision for a peer to peer digital cash was never premised on centralized third parties exercising veto powers as is the case now.

    So while bitcoin appears poised to achieve Nakamoto’s vision, many potential users may not see it as that alternative because they lack an identity document. Clearly, the mandatory KYC requirement by exchange platforms is turning out to be an Achilles Heel for crypto adoption efforts. In fact, the same requirements are identified as the reasons why many adults globally lack access to financial services.

    For instance, the 2017 World Bank Global Financial Index survey identifies the lack of proper identification as one of the major reasons why many adults are unbanked. Still, the survey notes that it was another financial technology, mobile money, that proved instrumental in reducing the number of unbanked adults from 2.2 billion to 1.7 billion between 2014 and 2017.

    Many in the crypto community are hopeful that faster and cheaper to use cryptocurrencies can help narrow this gap even further. However, this is only possible if restrictions that preclude potential users from accessing cryptocurrencies are dropped.

    That is partly the reason why platforms like local.Bitcoin.com which are embedded with blind escrow for bitcoin cash trades are not burdening users with KYC requirements. Anyone can create an account on Bitcoin.com Local where they are not asked to disclose any personal details. The platform is, therefore, ideal for marginalized groups like undocumented migrants or those lacking identity documents for some reason or the other.

    A platform like Bitcoin.com Local has the potential to hasten crypto adoption if only enough people know about it. Still, potential users might want to know how this service works in practice?

    Put simply, blind escrow is the use of an autonomous contract capable of holding assets on behalf of two parties who are in the process of completing a transaction. The autonomous contract will hold the asset in limbo until the conclusion of a specific event or time.

    Bitcoin Cash (BCH) and Bitcoin.com’s blind escrow system leverages Script called OP_CHECKDATASIG, which is a functionality that allows for escrows, covenants, and decision-based transactions.

    Therefore, by having a blind escrow in place it means Bitcoin.com Local never takes custody of the bitcoin cash (BCH), even while it is in escrow. It is technically impossible for local.Bitcoin.com to spend the BCH in escrow. In the majority of transactions, local.Bitcoin.com is uninvolved, as both parties can complete the escrow on their own.

    While Bitcoin.com Local does get involved when there is a dispute, however, the platform “can only allow the BCH to be spent by the buyer or seller.”

    Moreover, every message sent via Bitcoin.com Local is end-to-end encrypted in the user’s browser. This means no one — including anyone at local.Bitcoin.com — can read those messages. To local.Bitcoin.com’s server, “the messages look like a bunch of random indistinguishable numbers.”

    However, once the keys used to encrypt the messages are destroyed, that conversation is gone forever. According to the Bitcoin.com Local team, the “only time in which our staff can read messages is when the key required to decrypt them is volunteered by one of the parties (this is done in the case of a dispute).”

    In other words, it means the buyer only interfaces with the seller and the blind escrow is there to ensure trustless trading. This type of platform is especially suitable for places or countries that are traditionally shunned by centralized exchanges.

    In the absence of a trustless platform, traders need to “trust” each other but that has not stopped reports of fraud and scams. However, when Bitcoin.com Local is involved, traders have an increased sense of security.

    Explaining how the blind escrow works, the local.Bitcoin.com developers say when the seller puts BCH in escrow, “they are creating an on-chain bitcoin cash transaction.” This transaction contains two relevant outputs, the escrow and the fee output.

    The escrow output can be spent by either the buyer or seller. The second output is the fee portion of the trade. If the trade is unsuccessful, the fee can be reclaimed by the seller; if the trade is successful, the fee will be swept by Bitcoin.com Local.

    Meanwhile, unlike many exchanges with limited base pairs and currency options, traders on Local.bitcoin.com can create a trade with any payment method. “You can even open a trade for items or services.”

    What do you think of Local.bitcoin.com blind escrow? Tell us in the comments section below.

    BCH, bitcoin cash, Bitcoin.com Local, Blind Escrow, Centralized Exchanges, cryptocurrency adoption, financial inclusion, Fintech, KYC, Local.bitcoin.com, Mobile money, Unbanked

    Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

    Read disclaimer

    Source: bitcoinslate.com

    Author: admin


    History of bitcoin - Wikipedia

    History of bitcoin – Wikipedia

    Number of bitcoin transactions per month (logarithmic scale)

    The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.[18]

  • Interactive bitcoin history
  • Lam, Eric; Leatherby, Lauren (3 October 2018). “From Pizza To Lambos: Charting Bitcoin’s First Decade”. Bloomberg. Retrieved 4 October 2018.
  • Source: en.wikipedia.org


    New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow – news.kuaidiantou.vip

    New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow – news.kuaidiantou.vip

    Governments are injecting record levels of new money into economies to contain the impact of shutdowns. Restrictions imposed on people in countries all over the world have forced many to look for alternative but safe ways of transacting. This is one reason why blind escrow bitcoin cash trading is increasing: it is not burdening users with KYC requirements.

    Some countries hit hard by the pandemic like the United States, have reportedly printed more money in less than six months than they have in several decades.

    Without a doubt, the deluge of new money entering the system will have dilutive effects on the value of money already in circulation. This has inevitability spurred on an increased interest in cryptocurrencies.

    Similarly, the restrictions imposed on people’s movement have forced many to look for alternative but safe ways of transacting. That is why the recent increase in the number of cryptocurrency holders is in some ways linked to lockdown measures.

    Events of the past few months have made it increasingly apparent that cryptocurrencies are not just speculative assets. They can be used as practical tools to shield savings or wealth from the effects of inflation. Furthermore, the use of cryptocurrencies fit very well with social distancing or stay-at-home measures.

    Yet despite this, many people face obstacles to getting cryptocurrencies for the first time. Even those with adequate knowledge about this fintech still face difficulties in acquiring these.

    It is true that cryptocurrencies are widely available at centralized cryptocurrency exchanges and at peer to peer trading platforms. However, these institutions use elaborate and sometimes cumbersome procedures that ultimately kill the interest of those searching for such alternatives.

    For instance, the know your customer (KYC) processes, which are now a mandatory requirement with many leading exchanges, drive people away from cryptocurrencies.

    Ordinarily, cryptocurrencies like bitcoin cash are not supposed to be subjected to such restrictions. Satoshi Nakamoto’s vision for a peer to peer digital cash was never premised on centralized third parties exercising veto powers as is the case now.

    So while bitcoin appears poised to achieve Nakamoto’s vision, many potential users may not see it as that alternative because they lack an identity document. Clearly, the mandatory KYC requirement by exchange platforms is turning out to be an Achilles Heel for crypto adoption efforts. In fact, the same requirements are identified as the reasons why many adults globally lack access to financial services.

    For instance, the 2017 World Bank Global Financial Index survey identifies the lack of proper identification as one of the major reasons why many adults are unbanked. Still, the survey notes that it was another financial technology, mobile money, that proved instrumental in reducing the number of unbanked adults from 2.2 billion to 1.7 billion between 2014 and 2017.

    Many in the crypto community are hopeful that faster and cheaper to use cryptocurrencies can help narrow this gap even further. However, this is only possible if restrictions that preclude potential users from accessing cryptocurrencies are dropped.

    That is partly the reason why platforms like local.Bitcoin.com which are embedded with blind escrow for bitcoin cash trades are not burdening users with KYC requirements. Anyone can create an account on Bitcoin.com Local where they are not asked to disclose any personal details. The platform is, therefore, ideal for marginalized groups like undocumented migrants or those lacking identity documents for some reason or the other.

    A platform like Bitcoin.com Local has the potential to hasten crypto adoption if only enough people know about it. Still, potential users might want to know how this service works in practice?

    Put simply, blind escrow is the use of an autonomous contract capable of holding assets on behalf of two parties who are in the process of completing a transaction. The autonomous contract will hold the asset in limbo until the conclusion of a specific event or time.

    Bitcoin Cash (BCH) and Bitcoin.com’s blind escrow system leverages Script called OP_CHECKDATASIG, which is a functionality that allows for escrows, covenants, and decision-based transactions.

    Therefore, by having a blind escrow in place it means Bitcoin.com Local never takes custody of the bitcoin cash (BCH), even while it is in escrow. It is technically impossible for local.Bitcoin.com to spend the BCH in escrow. In the majority of transactions, local.Bitcoin.com is uninvolved, as both parties can complete the escrow on their own.

    While Bitcoin.com Local does get involved when there is a dispute, however, the platform “can only allow the BCH to be spent by the buyer or seller.”

    Moreover, every message sent via Bitcoin.com Local is end-to-end encrypted in the user’s browser. This means no one — including anyone at local.Bitcoin.com — can read those messages. To local.Bitcoin.com’s server, “the messages look like a bunch of random indistinguishable numbers.”

    However, once the keys used to encrypt the messages are destroyed, that conversation is gone forever. According to the Bitcoin.com Local team, the “only time in which our staff can read messages is when the key required to decrypt them is volunteered by one of the parties (this is done in the case of a dispute).”

    In other words, it means the buyer only interfaces with the seller and the blind escrow is there to ensure trustless trading. This type of platform is especially suitable for places or countries that are traditionally shunned by centralized exchanges.

    In the absence of a trustless platform, traders need to “trust” each other but that has not stopped reports of fraud and scams. However, when Bitcoin.com Local is involved, traders have an increased sense of security.

    Explaining how the blind escrow works, the local.Bitcoin.com developers say when the seller puts BCH in escrow, “they are creating an on-chain bitcoin cash transaction.” This transaction contains two relevant outputs, the escrow and the fee output.

    The escrow output can be spent by either the buyer or seller. The second output is the fee portion of the trade. If the trade is unsuccessful, the fee can be reclaimed by the seller; if the trade is successful, the fee will be swept by Bitcoin.com Local.

    Meanwhile, unlike many exchanges with limited base pairs and currency options, traders on Local.bitcoin.com can create a trade with any payment method. “You can even open a trade for items or services.”

    What do you think of Local.bitcoin.com blind escrow? Tell us in the comments section below.

    BCH

    ,

    bitcoin cash

    ,

    Bitcoin.com Local

    ,

    Blind Escrow

    ,

    Centralized Exchanges

    ,

    cryptocurrency adoption

    ,

    financial inclusion

    ,

    Fintech

    ,

    KYC

    ,

    Local.bitcoin.com

    ,

    Mobile money

    ,

    Unbanked

    Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

    Source: news.staging.app.kuaidiantou.vip


    What is the exchange rate of AUD (Australian Dollar) / USD (US Dollar) on Monday August 24, 2020


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