Bitcoin gets very bad media all over the world. the image of this coin is going down the mountain and connected more and more with negative news. further, even if part of these news items are not correct, there isn't any focusing and strong team behind this coin to prevent it's falling down the mountain. one of the evidence for this amazing deteriorating is the rate of Bitcoin which decreased 80% on the last 2 years (1150 USD to 230 USD). the problem is that all other coins are connected to the Bitcoin as it's satellites. yet there aren't any independent strong coins which can carving a new road for the Digital Currencies path and maintain this amazing innovative tech and field. so in this moment, if the Bitcoin is fade out, it could jeopardize all other coins. hope DNOTES steps can make it an independent coin with the very needed image and shape of reliability and honesty.
This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.
Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there?
Bitcoin flounders in Australia as regulatory worries bite* Australian banks closed accounts of 13 bitcoin exchanges
* Businesses wary of currency's potential crime links
* Australia estimated to hold 7 percent of bitcoin's global value
By Byron Kaye and Swati Pandey
SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.
Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.
The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.
"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.
Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.
Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.
The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.
"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.
http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004
