Bitcoin Forum

Aud has been taking a big hit lately and is expected to fall to a low not seen in years! Dam it's good thing I am holding bitcoin rather than the unstable AUD.

yes, I am glad I also have BTC and LTC instead of AUD

I have made 5% on my money over the last month just from the Australian dollar dropping. lustre bitcoin growth.
woohoo!

As an Australian, I'm loving this fall. Keep going!

As an Australian, I wish I had more BTC to hedge against the double whammy the country is about to get : falling currency and falling gold/silver/commodity prices...

pǝʇɔǝɟɟɐ ʇou ɹǝsn uıoɔʇıq
buıʇǝɯɯnןd ɹɐןןop uɐıןɐɹʇsnɐ

I think more Australia's will notice bitcoin in the near future. it's a good time to be involved  ;D

Fall dollar fall!

I spend a few $k on car parts from the US a few months ago, and with no more desire to buy much overseas now it is down, the drop is only beneficial to me and my coin holdings.

Australia is a country that does not make our own things. this means we import them so the falling dollar means you can't buy as much. this pushes the price up on everything in Australia. it's not a good thing at all. the only reason I am saying it's good for me is because I am not losing anything due to holding bitcoin.
this is a good resion for people to get onboard with bitcoin.

Australia has been one of the few safe havens during the financial crisis.

So with AUD down, commodities down, stocks down....

What's left? Cryptocurrencies of course...

please, do not watch the "Italian situation" or you will laugh a lot  ;D

EDIT: ...and i was thinking to fly away from here, maybe in australia  :o

AUD down?

0.9651 AUD to 1.0 USD
last month
1.02 AUD to 1.0 USD

And 2006 1.44 AUD to 1.0 USD

the AUD is strong

^^^ Nope, the other way round champ - in 2006 it was $0.74AUD to US$1 (I would know - I holidayed in the USA for a month in 2006 and spent A$30,000 on the trip!). But yes, you are correct - the dollar is currently still quite strong. At Uni (College) here in Adelaide we were taught that the fundamental basis of the A$ (which was only floated in the 1990's), is around US75c - that is the sweet spot for out imports/exports. I also remember when the A$ completely crashed and only bought about US55c!!

I bought a lot of USD when AUD was strong against it.... then I used it to buy BTC too! :)

For anyone in Sydney, check out the bitcoin sydney group, they're organising a meetup soon.

Feel for the poor guy who bought a pizza for 10,000Btc several years ago - he would be a millionaire now. Or feel worse for the chump who got the 10,000Btc for the pizza and probably gave it away or sold it for next to nothing.

Nope you're the one who has it the wrong way around. $0.74 AUD to USD $1 is a STRONG Aussie dollar.  

You're clearly remembering  $0.74 USD per $1 AUD which is a WEAK Aussie dollar.  eg. your $30,000 AUD would have bought you about $22,500 USD.

Gahhhhhhhhh yeah you are right - I was saying it the wrong way round. Either way, back in '06 I got screwed on the exchange rate (relatively speaking) :(

https://www.facebook.com/pages/Bitcoin-Sydney-Australia/457681220943285

Post on there to register your interest. The meetup will be in a few weeks time. There has been a lot of interest so spread the word.

Post in here: https://bitcointalk.org/index.php?topic=108904.0

I'll get something going and update it.

The Aussie had broken parity with the USD sometime back.   Interest rates are also falling.   Commodities are basically down with only Jim Rogers still bullish about it.   I feel that it is time to diversify into more industries.   Too much dependency on raw materials will cause great problems when China's economy starts to slow down.  But Bitcoin can hardly replace the Aussie, at least for the near future.

By the time the NGN is ready, I guess there is no need for fiber :) , the speed at which those guys do things....:(

The NBN is biggest crock of shit ever known to man. It is not going to be fully rolled out until 2023. BRAVO. NOT.

They tried to switch it on for a big media release the other week in Sydney and it didn't even work.

I live 7km from the Adelaide CBD and we are not even on the 3 year roadmap for the NBN. What a complete joke.

The completion of the NBN will finally bring Australia into the 1990's.

95% of my savings is in BTC and 5% AUD  :D

That's funny considering your signature.

That is where Liquid uses his 5% AU I guess?  To pay for that Com.AU which is quite expensive! :)

Respect.

I always have respect for those with the guts to put their money where their mouth is. I did the same and rode it all the way to a six figure payout.

Well, I had a more modest 5 figure payout, but it was quite fun then when we built Bitcoin rigs.   With the difficulty now, it is getting harder and harder to use DIY Rigs :( .  I am not into buying those ASICs machines though unless it is DIY