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Author Topic: AUD is falling! lucky I have bitcoin  (Read 2122 times)
yocko06
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May 27, 2013, 05:45:26 AM
 #1

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.
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swordfish6975
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May 27, 2013, 05:50:42 AM
 #2

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

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                    http://cryptofolio.info  - google finance of cryptos
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May 27, 2013, 05:56:17 AM
 #3

I have made 5% on my money over the last month just from the Australian dollar dropping. lustre bitcoin growth.
woohoo!
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May 27, 2013, 06:31:16 AM
 #4

As an Australian, I'm loving this fall. Keep going!
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May 27, 2013, 06:39:46 AM
 #5

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...
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May 27, 2013, 06:43:57 AM
 #6

pǝʇɔǝɟɟɐ ʇou ɹǝsn uıoɔʇıq
buıʇǝɯɯnןd ɹɐןןop uɐıןɐɹʇsnɐ
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May 27, 2013, 06:44:43 AM
 #7

I think more Australia's will notice bitcoin in the near future. it's a good time to be involved  Grin
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May 27, 2013, 06:57:18 AM
 #8

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.
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May 27, 2013, 07:07:17 AM
 #9

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.
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May 27, 2013, 07:17:44 AM
 #10

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...

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May 27, 2013, 09:06:20 AM
 #11

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

EDIT: ...and i was thinking to fly away from here, maybe in australia  Shocked
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May 27, 2013, 09:54:17 AM
 #12

AUD down?

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yocko06
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May 27, 2013, 10:07:26 AM
 #13

AUD down?
0.9651 AUD to 1.0 USD
last month
1.02 AUD to 1.0 USD
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May 27, 2013, 02:45:10 PM
 #14

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
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May 29, 2013, 09:38:19 AM
Last edit: May 29, 2013, 11:15:54 AM by Nytcrawler
 #15

^^^ 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!!
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May 29, 2013, 10:59:01 AM
 #16

I should have bought more bitcoin when the $AUD was higher and BTC was lower  Sad
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May 29, 2013, 11:22:26 AM
 #17

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

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

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May 29, 2013, 11:25:16 AM
 #18

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.
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May 29, 2013, 11:28:35 AM
 #19

^^^ 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.
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May 29, 2013, 11:32:45 AM
 #20

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) Sad
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