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Author Topic: BTC in Australia or a loan?  (Read 427 times)
VexDiesel
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April 22, 2013, 08:52:02 AM
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Hi
I'm in Australia and our options to buy Bitcoins seems quite difficult. Either pay high prices and fees or go through partners of MtGox.  Anyone in Aus that trades / sells / loans?

I'm willing to provide identity etc, phone or Skype (meet if in Brisbane) if required.
I know newbs are generally frowned upon for loans, but how to change that?  I don't post much because I'm generally a reader, soaking up info and am definitely no expert to answer posts.

Any genuine suggestions welcome Smiley
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Foxpup
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April 22, 2013, 09:54:54 AM
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The reason for the high prices is that high electricity prices make mining bitcoins locally not a viable option, so the only way to get bitcoins is to buy them from overseas. But international wire transfers (as you've no doubt already discovered, nobody will take a credit card for bitcoins) are also ridiculously expensive in Australia, so you're basically flat out of options when it comes to getting cheap bitcoins. It's not actually difficult to get bitcoins in Australia, they just cost more (but so does everything else in Australia).

Your best bets for getting bitcoins easily (but not cheaply) are Spend Bitcoins and Bit Innovate. Nobody here is going to give you a loan, especially as you haven't established how you are planning to pay it back, if you're not able to buy bitcoins on your own.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
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April 22, 2013, 10:04:48 AM
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Thanks a lot foxpup for your advice.  I have an account with Bitinnovate, just a little wary to use them as they are linked to MtGox and I see a lot of negative posts about Gox.
I have funds to buy, just don't want to waste some on bad excahnge rates. So I'm hoping there is some other info for an Aussie to buy Smiley
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April 22, 2013, 10:29:52 AM
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I have an account with Bitinnovate, just a little wary to use them as they are linked to MtGox and I see a lot of negative posts about Gox.
Huh? Bit Innovate doesn't offer "accounts", you pay cash and they send the bitcoins to your wallet directly. Bit Innovate's relationship with Mt. Gox is their problem, not yours; as a Bit Innovate customer, you never deal directly with Mt. Gox and don't need to concern yourself with their problems.

I have funds to buy, just don't want to waste some on bad excahnge rates. So I'm hoping there is some other info for an Aussie to buy Smiley
Don't worry too much about the exchange rates. In the long run, Bitcoin is probably going to be worth thousands of dollars or drop to zero, and in either case it doesn't really make much difference whether you bought in at $120 or $130 or whatever. If minor price variations bother you, then you probably shouldn't be buying bitcoins (look at the charts to see why).

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
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April 22, 2013, 10:34:48 AM
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i brought through localbitcoin.com

local sellers a good range of prices. very easy bank transfer. no fees

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VexDiesel
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April 22, 2013, 05:23:24 PM
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Thanks for the advice. I had not thought of it that way.
And thanks for the link Smiley
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