Melbourne CoinJar launches All-Australian first Zhang Bitte currency debit card

According to the Ministry of Commerce of the People's Republic of China, Australia's new fast network reported that Melbourne CoinJar announced the launch of the first all-Australian Bitcoin debit card-the product allows users to use the ATM and consumer terminals "virtual currency", users only need to deposit a debit card in the Bitcoin, These virtual currencies are converted into Australian dollars (the exchange rate, which is currently about 500 AUD per dollar), which is calculated on the day's global summary. When the user is recharging, CoinJar charges 1% as commission.

The report also noted that Bitcoin was invented in 2009 and, despite its 5 years of development, many people see it as the exclusive product of a handful of technology fans and digital fanatics. In addition, as a new thing, black market activity, hacker invasion, due to market environment and other factors caused by speculative speculation currency behavior also negatively affected the reputation of bitcoin, distorted the people's understanding of the invention of the technology and cognition. Governments have also adopted a different attitude towards Bitcoin, mainly conservative.

For Australia: The Inland Revenue Department has announced that it treats Bitcoin as an asset, not a currency, so it is also subject to capital gains tax, which is reported to be about 7% of the existing 13.2 million bits in the Australian workforce. But Australian entrepreneurs are determined to push it into the mainstream, and it is a brave move for Australian partners with a "bandit culture".

After talking about the policy environment, talk about the development of Bitcoin in the whole of Australia: the first local ATM to support cash-Bitcoin swaps was launched in Sydney in April. The machine was also deployed in Melbourne and the capital, Canberra. Other capital cities are also on the list, it is reported.

CoinJar said that over the past 12 months the company has handled more than $50 million trillion in bitcoin trading for nearly 30,000 individuals and businesses. Currently, CoinJar will try the debit card with 100 customers.

With a piece of Michael Jackson's view of Bitcoin at Mangrove Capital, he also gave a feeling and understanding of the Australian Bitcoin development. For friends who don't know who MJ is, you can listen to Beat It (mistaken)-he is Skype's former COO.

The experience of serving on Skype has made MJ and bitcoin the same. He has mastered a lot of peer-to-peer distributed network experience, technology. More to the point, on the awakening of consciousness, he understood that it would be very meaningful to explore, on a large scale, a technology that would be disruptive at the legal and commercial levels.

The following is a q&a interview with Cointelegraph and MJ:

You have contacted regulators to build Skype into international products and businesses. From your personal experience, is the challenge that Bitcoin has in common with previous Skype?

The same place is easy to find. The issue of Bitcoin and Skype will not be solved 1:30. If necessary, we must introduce a brand-new technology and business model. People need to have a say, and people need to have real control over trading. The evolution of technology--an open network on Skype, a public block chain on Bitcoin--the challenge it presents at the business level is that regulation does not match the organization.

You said that if Skype were based in the United States rather than Estonia, it wouldn't have been that fast. Do you think Bitcoin has a chance to get a foothold?

The development of Bitcoin is not limited to a certain area--you know, the Internet is breaking the geographical limits. My belief is that it will begin to rise from a certain section of the business. Authentication services, micro-services, professional services, including Cross-border transactions, are some of the things I'm more optimistic about.

You said Bitcoin would have the means to avoid regulatory compliance if it found a reasonable basis. Why is it particularly important to recognize this?

regulation = High cost. Business models need to be constantly tuned-and, in general, without intervention or action alone. We should try to reduce unnecessary restrictions where possible.

What do you think of the recent New York Regulation bill? Can the 45-day delay really improve regulation?

The review period is designed to optimize regulatory policy – legislators will do their best to gather suggestions and give them serious consideration-and I personally hope that everyone can do their best.

Myself, the idea is more optimistic. Just want to have a small "limit" is good, that is, small transactions duty-free. Because

What do you think of Australia's recent issue of the regulation of Bitcoin companies?

Say three points:

First, if you accept bitcoin instead of other forms of payment, these users should enjoy the same treatment as a user who uses other means of payment-if you pay a person's wages in Bitcoin, he should be treated in the same way as the Australian dollar (Social Security benefits, etc.)

Second, if Bitcoin is used as an asset to produce purchase, sale, and profit, the proceeds are subject to the corresponding tax. This is not difficult to understand, it is good to reference other types of assets, such as: a painting, a car, and so on.

In real life, there is no conflict between the two.

Third, I have concerns about the GST (Australia's name for the goods and Services Tax) – which, in this regard, is unclear and seems to have a double taxation risk. I hope that in the review period this piece can get everyone's discussion.

You are currently a partner at Mangrove Capital Partners to help aspiring entrepreneurs build internationally disruptive companies. The fund now has 500 million dollars in management funds. Which Bitcoin company have you invested so far?

I am now focusing on the most important companies in the Bitcoin block chain economy--a company that can provide the product by using block chains effectively. I think it smells good. Personally, I don't really care about trading platforms, wallets or anything.

What do you think Bitcoin is the biggest obstacle to paying mainstream?

The consistency of the regulatory plan. If this can be suppressed, the entire ecology can gain sufficient confidence, including banks, legal money operators Ah, a variety of businesses, service providers ah what.