Bitcoin Forum

Economy => Economics => Topic started by: yocko06 on May 27, 2013, 05:45:26 AM



Title: AUD is falling! lucky I have bitcoin
Post by: yocko06 on May 27, 2013, 05:45:26 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: swordfish6975 on May 27, 2013, 05:50:42 AM
yes, I am glad I also have BTC and LTC instead of AUD


Title: Re: AUD is falling! lucky I have bitcoin
Post by: yocko06 on May 27, 2013, 05:56:17 AM
I have made 5% on my money over the last month just from the Australian dollar dropping. lustre bitcoin growth.
woohoo!


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Zaih on May 27, 2013, 06:31:16 AM
As an Australian, I'm loving this fall. Keep going!


Title: Re: AUD is falling! lucky I have bitcoin
Post by: xorglub on May 27, 2013, 06:39:46 AM
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...


Title: Re: AUD is falling! lucky I have bitcoin
Post by: intense on May 27, 2013, 06:43:57 AM
pǝʇɔǝɟɟɐ ʇou ɹǝsn uıoɔʇıq
buıʇǝɯɯnןd ɹɐןןop uɐıןɐɹʇsnɐ


Title: Re: AUD is falling! lucky I have bitcoin
Post by: yocko06 on May 27, 2013, 06:44:43 AM
I think more Australia's will notice bitcoin in the near future. it's a good time to be involved  ;D


Title: Re: AUD is falling! lucky I have bitcoin
Post by: dakiller on May 27, 2013, 06:57:18 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: yocko06 on May 27, 2013, 07:07:17 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: BitPirate on May 27, 2013, 07:17:44 AM
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...


Title: Re: AUD is falling! lucky I have bitcoin
Post by: nicolazza on May 27, 2013, 09:06:20 AM
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


Title: Re: AUD is falling! lucky I have bitcoin
Post by: viboracecata on May 27, 2013, 09:54:17 AM
AUD down?


Title: Re: AUD is falling! lucky I have bitcoin
Post by: yocko06 on May 27, 2013, 10:07:26 AM
AUD down?
0.9651 AUD to 1.0 USD
last month
1.02 AUD to 1.0 USD


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Spendulus on May 27, 2013, 02:45:10 PM
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


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Nytcrawler on May 29, 2013, 09:38:19 AM
^^^ 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!!


Title: Re: AUD is falling! lucky I have bitcoin
Post by: jimmijames73 on May 29, 2013, 10:59:01 AM
I should have bought more bitcoin when the $AUD was higher and BTC was lower  :(


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Seal on May 29, 2013, 11:22:26 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Nytcrawler on May 29, 2013, 11:25:16 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Cyberdyne on May 29, 2013, 11:28:35 AM
^^^ Nope, the other way round champ - in 2006 it was $0.74AUD to US$1

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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Nytcrawler on May 29, 2013, 11:32:45 AM
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) :(


Title: Re: AUD is falling! lucky I have bitcoin
Post by: jimmijames73 on May 29, 2013, 11:54:36 AM
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.

Where can I find details on the Sydney bitcoin group?


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Seal on May 29, 2013, 12:43:03 PM
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.

Where can I find details on the Sydney bitcoin group?

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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: jimmijames73 on May 30, 2013, 03:03:14 AM
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.

Where can I find details on the Sydney bitcoin group?

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.

Thanks Seal, unfortunately I am not on Facebook.

Edit: Spelling


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Seal on May 30, 2013, 06:19:10 AM
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.

Where can I find details on the Sydney bitcoin group?

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.

Thanks Seal, unfortunately I am not on Facebook.

Edit: Spelling

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

I'll get something going and update it.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: worldinacoin on May 30, 2013, 06:24:25 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: jimmijames73 on May 30, 2013, 09:46:20 AM

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

I'll get something going and update it.

Done, I will keep watch for details.

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.

The Australian economy used to 'ride on the sheeps back', then on the mining boom.  I am hoping with the roll out of the NBN that the next big thing will be with new technologies.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: worldinacoin on May 30, 2013, 09:48:45 AM
By the time the NGN is ready, I guess there is no need for fiber :) , the speed at which those guys do things....:(


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Nytcrawler on May 30, 2013, 10:55:06 AM
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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Cyberdyne on May 30, 2013, 12:30:39 PM
I am hoping with the roll out of the NBN that the next big thing will be with new technologies.

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


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Liquid on May 30, 2013, 12:48:06 PM
95% of my savings is in BTC and 5% AUD  :D


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Cyberdyne on May 30, 2013, 02:03:30 PM
95% of my savings is in BTC and 5% AUD  :D

That's funny considering your signature.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: worldinacoin on May 31, 2013, 01:42:33 AM
That is where Liquid uses his 5% AU I guess?  To pay for that Com.AU which is quite expensive! :)


Title: Re: AUD is falling! lucky I have bitcoin
Post by: Seal on May 31, 2013, 02:14:12 AM
95% of my savings is in BTC and 5% AUD  :D

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.


Title: Re: AUD is falling! lucky I have bitcoin
Post by: worldinacoin on May 31, 2013, 03:05:44 AM
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