10 things you need to know this morning in Australia

Good morning.

1. Every crypto HODLer right now:

Picture: KC Green

Bitcoin got poleaxed last night, dropping 12.9%. Ripple – down 19.9%. Ethereum – down 18%. Bitcoin Cash – down 17.3%. It’s a proper bloodbath. Declining volumes from Japan and South Korea appeared to be behind Tuesday morning’s sell-off. But the CEO of the oldest bitcoin exchange says all platforms are struggling with “the massive, massive amount of new users”. So, panic? One day, yes, but for now it’s not real money – at least in BTC terms. Just 4% of the bitcoin market holds 97% of the cash, so when we’re talking about meltdowns and meltups, we need to remember there’s virtually no chance any of them actually paid above a couple of hundred dollars to buy in. The only losers are mostly the desperate latecomers in 2017 who hold the other 3% of the market. So of the $31 billion-odd in BTC wiped out overnight, a real-life figure of around $US1 billion was probably lost. But it is a grand reminder of what could happens if this crypto stuff really takes hold.

2. We know, more bitcoin news, right?


It gets more interesting than Brexit, promise.

3. Meanwhile, in Sydney alone over the next year, homeowners will drop about $100 billion real monies just by owning their home, if Credit Suisse got its numbers right. Now that’s a bloodbath. And it’s amazing how quickly we start using phrases like “glimmer of hope” around potential increases in Chinese investment when our property prices are suddenly under threat.

4. Anyhoo, maybe stocks will save the rest of the gamblers in 2018. It was an easy enough game in 2017, but what about 2018? Morgan Stanley crunched all its numbers together and picked out the 6 internet stocks to bet on this year. Two of them involve video games. And here’s Credit Suisse again with 3 things that could drive the stock market crazy in 2018.

5. In the real world, commodities are suddenly back under pressure. Oil is down – lol – 1%, copper 0.5% and iron ore fell heavily again. The Aussie fell as low as 0.7938 US cents but battled back to finish around flat for the session. And in local data today, we get November housing finance figures from the ABS.

6. “Poll: 48% of Americans think Trump’s ‘shithole’ remarks were racist”. Funny things, headlines. Because you could read that as “Poll: 52% of Americans think Trump’s ‘shithole’ remarks weren’t racist”. We still don’t know if he even said it. The Homeland Security secretary denied under oath that she heard Trump say “shithole”, and lawmakers are now bickering over whether he actually said “shithouse”.

7. Computer, enhance:


Gah. That’s Jeffrey Wong, the Hawaii Emergency Management Agency’s operations officer back in July, posing in an AP pic. This, folks, is why you don’t keep your passwords on Sticky Notes stuck to your monitor. And Japan just made the same mistake Hawaii did.

8. Things flight attendants notice about you as you board the plane:

  • What kind of clothes you’re wearing.
  • How patient you are while waiting in the long line during boarding.
  • What kind of book you’re carrying or reading (“If you are reading a medical journal… we know who to approach for First Aid.”)
  • If you’re carrying food with you or are “just waiting to pounce on that free meal.

And a bunch of other stuff which, if you play it right, could get you a free upgrade.

9. Even nutjob dictators poo:

Picture: Getty Images

That wooden box in the background is Kim Jong Un’s loo, which travels the poverty-stricken North Korean countryside with him. So here’s a plan from a top security expert – the US should bomb Jong Un’s loo. And here’s why it’s actually more brilliant than silly.

10. What if Rupert Murdoch’s ex-wife was actually a Chinese spy? She’s also been seen in the company of Vladimir Putin and Tony Blair. And the Wall Street Journal is reporting that she is uncomfortably close to the US President. US intelligence officials apparently once warned Jared Kushner, Trump’s son-in-law and senior adviser, that Murdoch, his close friend, could be using her friendship with him and his wife, Ivanka Trump, to “further the interests of the Chinese government”.

BONUS ITEM: This is why we internet:

Have a great day.

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