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Scheduled Maintenance Complete – All systems operational

23 Sep 2017 16:43
Adrian Przelozny, CEO

Scheduled Maintenance Complete – All systems operational


Sched. Maintenance: 23rd September, 15:00 UTC+10. Expect 4 hour outage.

20 Sep 2017 14:07
Adrian Przelozny, CEO

Sched. Maintenance: 23rd September, 15:00 UTC+10. Expect 4 hour outage.


Scheduled Maintenance Complete – All systems operational

26 Aug 2017 17:05
Adrian Przelozny, CEO

Scheduled Maintenance Complete – All systems operational

In the Media

ABC Radio: “Bitcoin – the back story”

4 Sep 2017 08:29
Adrian Przelozny, CEO

Listen to Adrian Przelozny, CEO of Independent Reserve and other guests including Andreas Antonopoulos talk Bitcoin on ABC radio.

Full audio available here

ABC Radio: “Bitcoin – the back story”


Bitcoin Cash (BCH) Deposits and Withdrawals are now active

26 Aug 2017 17:07
Adrian Przelozny, CEO

We are pleased to announce that Bitcoin Cash (BCH) Deposit and Withdrawal functionality is now active.

6 Blockchain confirmations are required for BCH deposits before they can be traded.

If you have sent BCH to one of your XBT deposit addresses, please click the ‘check now’ button next to the BCH address in the ‘Deposit Wallets’ section of the Accounts screen.

Bitcoin Cash (BCH) Deposits and Withdrawals are now active


Trading of Bitcoin Cash (BCH)

5 Aug 2017 17:52
Adrian Przelozny, CEO

Today we have taken the first step in implementing support for Bitcoin Cash (BCH).

All customers will now find that they have a ‘BCH’ account on the Accounts screen, with a balance equal to that of their Independent Reserve Bitcoin (XBT) balance as at 1st August 2017, 23:16:14 UTC +10.

We plan to enable BCH trading on Monday, the 7th of August at 15:00 UTC +10.

Please take care when placing orders as we expect initial liquidity to be low. We highly recommend using Limit Orders rather than Market orders which may execute at unexpected price points due to low liquidity on the BCH market.

BCH deposits and withdrawals will be enabled at a later date, when we are confident that they can be implemented safely, with no risk to client funds.

Trading of Bitcoin Cash (BCH)


Update regarding Bitcoin Cash

3 Aug 2017 10:01
Adrian Przelozny, CEO

We are now in a position to explain in more detail how we will deal with Bitcoin Cash (BCH) which came into existence following the August 1 UAHF hard fork.

In the run up to the hard fork, we advised our customers that we had chosen not to interact with the UAHF chain, and that those who wanted to receive Bitcoin Cash (BCH) immediately after the fork should withdraw their Bitcoin.

This was the best course of action to take at the time to ensure the continued stability and security of our platform.

For those customers who chose to leave their Bitcoin on Independent Reserve at the time of the fork, we recorded their BCH balances at the time of the last common block (block 478558), which was mined at 1st August 2017, 23:16:14 UTC +10.

These BCH balances will be made available to our customers as soon as it is safe for us to do so. A series of technical and safety requirements need to first be met before this can occur.

We will release further updates regarding this in the coming days and weeks.

Update regarding Bitcoin Cash


Bitcoin User Activated Hard Fork (UAHF)

20 Jul 2017 16:14
Adrian Przelozny, CEO

This is a supplement to the UASF announcement made on July 15, and concerns the Bitcoin User Activated Hard Fork proposal (UAHF).

User Activated Hard Fork (UAHF), including Bitcoin ABC, is a proposal to alter the Bitcoin protocol by creating a new fork of the Bitcoin software, which will operate on its own separate blockchain.  Further details are available here.

The UAHF is scheduled to activate on approximately August 1, 2017.

The UAHF differs to UASF because it is incompatible with the current Bitcoin protocol and will create a separate blockchain.

Should the UAHF activate, Independent Reserve will not support the new UAHF blockchain or its associated coin (Bitcoin Cash). Any Bitcoin within customer accounts will remain accessible over the main blockchain only, and will not be converted into coins on the UAHF chain.

If you wish to ensure that you have access to any resultant UAHF coins, please withdraw your Bitcoin from Independent Reserve prior to July 30th, 18:00 UTC+10.

Thank you for your support and understanding.

Adrian Przelozny CEO, Independent Reserve

Bitcoin User Activated Hard Fork (UAHF)


Bitcoin User Activated Soft Fork (UASF)

15 Jul 2017 11:46
Adrian Przelozny, CEO

On the 1st of August, the Bitcoin User Activated Soft Fork (UASF) is scheduled to activate. The UASF is intended to address scaling issues faced by the Bitcoin network by accelerating the adoption of Segregated Witness.

The activation of UASF may result in disruptions to the Bitcoin network and cause transactions to become unreliable for a period of time. It may also lead to a fork in the blockchain, resulting in two or more versions of Bitcoin.

In order to ensure the safety of customer funds, we will be temporarily suspending Bitcoin deposits and withdrawals on July 30th, at 18:00 UTC+10. We will enable this functionality only when we are confident that Bitcoin transactions can be processed reliably.

In the event of a permanent split in the Bitcoin blockchain, we will endeavor to make forked balances available for customer withdrawal, however this will be subject to our assessment of the technical risks posed by the fork, such as replay attacks and other factors that could create network instability.

Customers who wish to access their Bitcoin on both chains at the time of the fork should withdraw their Bitcoin from Independent Reserve since we cannot guarantee what will happen during the fork or when we… click for more

Bitcoin User Activated Soft Fork (UASF)


Ethereum Trading Fees Reduced

7 Jun 2017 19:43
Adrian Przelozny, CEO

In recognition of the recent increases in the price of ETH, we have taken steps to reduce the fees associated with ETH trading.

Our ETH Trade Volume Discount structure has been adjusted to reduce the monthly volume required to enjoy brokerage fee reductions.

We have also reduced our withdrawal fee to ETH 0.004.

Thank you all for your feedback and continued support of Independent Reserve.

Ethereum Trading Fees Reduced


Our policy on a possible Bitcoin hard fork

20 Mar 2017 21:37
Adrian Przelozny, CEO

As many of you are no doubt aware, there has been heated debate in the Bitcoin community in recent months about the best way of scaling the Bitcoin protocol to support greater transaction throughput.

This debate has led to a situation where it is possible that a hard fork may occur at some time in the future, with the Bitcoin blockchain splitting into two. This may result in two different versions of Bitcoin going forward.

I would like to provide some clarity to our customers as to how Independent Reserve plans to handle the possible future hard fork between Bitcoin Unlimited and Bitcoin Core versions of the Bitcoin protocol. The hard fork, if it were to occur presents a major challenge for Bitcoin exchanges worldwide. At present there is no suitable solution proposed to the ‘Replay Attack’ problem, meaning that there is no reliable way to send Bitcoin on a single fork of the chain, immediately after a hard fork occurs.

Another source of concern is that there is no reliable timeline at present as to when the potential hard fork may occur. It is possible that the network could fork at an unexpected moment in the near future.

To address these concerns, we have… click for more

Our policy on a possible Bitcoin hard fork


Christmas and New Year Operations

21 Dec 2016 14:36
Jan Przelozny

Please be advised that no fiat deposits or withdrawals will be processed on December 25-26 and also January 1st. All other aspects of Independent Reserve will continue to function as normal.

Best wishes for Christmas and the New Year from the whole Independent Reserve team.

Christmas and New Year Operations


Introducing SMSF Accounts

3 Dec 2016 15:21
Adrian Przelozny, CEO

We are pleased to announce today the introduction of Self-Managed Super Fund (SMSF) accounts on Independent Reserve.

We are very excited to be able to provide this service to our customers who wish to use Digital Currency as part of their retirement investment portfolio.

Introducing SMSF Accounts

Industry News

Australian Senators Call for Bitcoin to Be Official Currency

9 Aug 2017 14:25
Adrian Przelozny, CEO

Two Australian senators have pushed for the Reserve Bank of Australia to embrace bitcoin and make it an official currency. Without it, the country risks its financial competitiveness and being left behind, they said.

Read full story here

Australian Senators Call for Bitcoin to Be Official Currency


Guide to SMSF investing into Digital Currency

6 Aug 2017 18:46
Adrian Przelozny, CEO

great guide to investing superannuation funds into Digital Currency via Independent Reserve!

Currently the only way to invest super in bitcoin is using self managed superannuation (SMSF)

You can set up an SMSF using an accountant of your choice near you. I used Squirrel Super as their team demonstrated the ability to understand and audit cryptocurrency investments. So look for this skill set in the accountant of your choice.

Once your SMSF is setup you will get a bank account for it to which you will transfer funds from your existing industry superannuation account.

Then sign up with an australian bitcoin exchange with your SMSF company details to purchase bitcoin/ethereum using your SMSF’s bank a/c.

I prefer to use Independent Reserve as they now have an Out of Box offering catering specifically to SMSF accounts

Please ensure you keep bitcoins/ether in a wallet you control once you have purchased them and also this wallet should be separate to your personal bitcoin wallet.

Ideally send all your SMSF purchased bitcoins/ether to a single address wallet so it is easier for annual audit purposes which SMSF’s are required to do. Your accountant will do this for you.

I personally use Copay Wallet as it has an Auditable Setting feature for the wallet which… click for more

Guide to SMSF investing into Digital Currency


A Recap of the Blockchain’s Big Split

2 Aug 2017 11:45
Adrian Przelozny, CEO

It wasn’t the first attempt to fork the bitcoin blockchain, but it was certainly the most memorable.

As reported earlier today, Bitcoin Cash, a new cryptocurrency, was created when a group of miners “forked” from the main bitcoin blockchain – in short, they switched to a new, incompatible software that changed the rules by which the network would function.

Read the full story on Coindesk

A Recap of the Blockchain’s Big Split


Swiss bank becomes first to offer bitcoin to its clients

14 Jul 2017 11:51
Adrian Przelozny, CEO

A Swiss bank is now offering to buy bitcoins for its clients. As of Wednesday, investors can ask their asset manager at Falcon Private Bank, a boutique investment firm headquartered in Zurich, to purchase and store bitcoin on their behalf – a first for conventional banks.

Read the full article in New Scientist here

Swiss bank becomes first to offer bitcoin to its clients


Countdown to SegWit: These Are the Dates to Keep an Eye On

13 Jul 2017 09:42
Adrian Przelozny, CEO

Bitcoin’s very public scaling debate is entering a crucial phase. Two of the most popular scaling proposals available today — BIP148 and SegWit2x — both intend to trigger Segregated Witness (“SegWit”) activation within a month, which means that the protocol upgrade could be live within two.

At the same time, there is a very real risk that Bitcoin “splits.” Both BIP148 and SegWit2x could diverge from the current Bitcoin protocol, which could in turn lead to even more splits.

We will be issuing a statement prior to July 29th detailing how Independent Reserve aims to handle these events.

Click here to read the full article in Bitcoin Magazine

Countdown to SegWit: These Are the Dates to Keep an Eye On


Bitcoin could nearly double and reach $5,000USD soon, says Standpoint Research

6 Jul 2017 21:26
Jan Przelozny

Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000USD within a year.

“$5,000USD could happen in a few months. It’s only starting to gain traction right now,” Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. “It’s starting to spread like wildfire right now.”

He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up.The research analyst’s view on Bitcoin joins the optimistic views of others on Wall Street. On Sunday, Goldman Sachs’ technical analyst Sheba Jafari said in a note that bitcoin could rise as high as $3,915USD.

“In the next 6 to 12 months you’re going to have a little bit of a hysteria,” Moas said. However, “this has a long, long way to go before it gets to bubble territory.”

Click here to read the full story on news.bitcoin.com

Bitcoin could nearly double and reach $5,000USD soon, says Standpoint Research


Global Money in Perspective

27 Jun 2017 23:43
Jan Przelozny

Global money in perspective (See image below).

Note: Bitcoin and cryptocurrency is still in the early adopter phase.

Global Money in Perspective


United Nations Sends Aid to 10,000 Syrian Refugees Using Ethereum Blockchain

14 Jun 2017 21:56
Jan Przelozny

One of the largest-ever implementations of the Ethereum Blockchain for a charitable cause has just concluded a successful trial.
 
Completed on 31st May, the project run by the United Nation’s World Food Programme (WFP) was designed to direct resources to thousands of Syrian refugees by giving them cryptocurrency-based vouchers that could be redeemed in participating markets.
 
Alexandra Alden, a WFP innovation accelerator consultant who helped oversee the implementation, told CoinDesk:
“All funds received by the refuges from WFP were specifically used to purchase food items such as olive oil, pasta and lentils.”
 
The WFP intends to expand the project to include 100,000 individuals in Jordan as soon as August. If that goes according to plan, the effort is set to grow to serve the entire Jordanian refugee population by the end of 2018.
Click here to read the full story coindesk.com

United Nations Sends Aid to 10,000 Syrian Refugees Using Ethereum Blockchain


US State of Montana Shows Support for Bitcoin by Funding Local Bitcoin Miner With $416,000 Grant

9 Jun 2017 23:25
Jan Przelozny

As part of its efforts to boost local employment, the state has recently allocated public funds to help with a local Bitcoin mining firm project, according to the press release from the Office of Montana Governor, Steve Bullock. Bitcoin is perceived as a long-term opportunity for job seekers and Montana is one of the first states in the USA that officially supports the potential of it.

Click here to read more on cointelegraph.com

US State of Montana Shows Support for Bitcoin by Funding Local Bitcoin Miner With $416,000 Grant


Vladimir Putin and Vitalik Buterin Discuss Ethereum ‘Opportunities’

6 Jun 2017 21:27
Jan Przelozny

The president of Russia briefly met with Ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

“Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners.”

Click here to read the full story on coindesk.com

Vladimir Putin and Vitalik Buterin Discuss Ethereum ‘Opportunities’