Bitcoin Forum
December 05, 2016, 04:41:45 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Dose Australia really need an Exchange  (Read 1481 times)
Andre Jensen (World Bitcoin Exchange)
Member
**
Offline Offline

Activity: 102



View Profile WWW
July 31, 2011, 07:31:33 AM
 #1

Bitcoiners,

id like to ask if Australia really needs a bitcoin exchange and if so what fees are you prepared to pay.

1) nothing
2) 0.50% per transaction
3) $0.25c per transaction

is there enough volume here........?
1480956105
Hero Member
*
Offline Offline

Posts: 1480956105

View Profile Personal Message (Offline)

Ignore
1480956105
Reply with quote  #2

1480956105
Report to moderator
1480956105
Hero Member
*
Offline Offline

Posts: 1480956105

View Profile Personal Message (Offline)

Ignore
1480956105
Reply with quote  #2

1480956105
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480956105
Hero Member
*
Offline Offline

Posts: 1480956105

View Profile Personal Message (Offline)

Ignore
1480956105
Reply with quote  #2

1480956105
Report to moderator
commlinx
Full Member
***
Offline Offline

Activity: 126



View Profile
July 31, 2011, 08:01:37 AM
 #2

I haven't used it myself yet but TradeHill introduced an AUD exchange a while ago:

http://bitcoincharts.com/markets/thAUD.html

BitPiggy isn't an exchange in the usual sense but another option for buying and selling small amounts, the rates aren't that keen but it's very convenient for smaller transactions. I think a few other exchanges like MtGox now handle transactions to AU accounts, even though the trading is in $US. But I think it's going to be natural for most people to think that if 1 BTC is worth a certain $US amount it's going to be worth the equivalent $AUD based on banking exchange rates so it's probably not much different at the end of the day.

Personally I think as long as there's 3 or 4 ways to conveniently trade with an Australian account that's plenty and covers any temporary problems that exchanges will have from time to time. After I first joined Bitcoin I don't think there were any especially convenient ways at all, which probably turned out to be a good thing otherwise I might have ended up selling a few for a dollar Cheesy.

RJau
Member
**
Offline Offline

Activity: 74


View Profile
July 31, 2011, 02:10:23 PM
 #3

I dont know if AU could sustain its own exchange similar to MtGox, but we could use some methods of obtaining BitCoins.

I just want to buy with my god damn credit card.  Which I do, via bitcoin-otc, but its a pain.  Build a one click method and I'd use it.
Departure
Member
**
Offline Offline

Activity: 116



View Profile
July 31, 2011, 02:31:01 PM
 #4

I am really unsure these days about the bitcoin, while the currency it's self is perfect and implemented brilliantly, Its the 3rd party services which is needed for bitcoin to even be useful is what worries me the most, with thefts and scammer web sites popping up all over the place is really does damage the bitcoin as a means of usefulness. I would love to use an australian exchange but I have stopped trusting and if or when I get my current bitcoins back it will be quick sell off and out. Its a shame because of hand full of scammers want to hack sites like Mt Gox and couldn't be bothered administrators like mybitcoin owner, Who I feel needs to be monitoring a site as big as his atleast once a day. Anyway my point is while the idea of an aussie exchange sounds great there has been too much issues with Mt Gox to be able to feel it would be safe to trade there, And yes I know we have alot more talented coders in Australia which could prevent these types of things from happing, but it still feels unsafe. 

evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 31, 2011, 05:00:17 PM
 #5

I am really unsure these days about the bitcoin, while the currency it's self is perfect and implemented brilliantly, Its the 3rd party services which is needed for bitcoin to even be useful is what worries me the most, with thefts and scammer web sites popping up all over the place is really does damage the bitcoin as a means of usefulness. I would love to use an australian exchange but I have stopped trusting and if or when I get my current bitcoins back it will be quick sell off and out. Its a shame because of hand full of scammers want to hack sites like Mt Gox and couldn't be bothered administrators like mybitcoin owner, Who I feel needs to be monitoring a site as big as his atleast once a day. Anyway my point is while the idea of an aussie exchange sounds great there has been too much issues with Mt Gox to be able to feel it would be safe to trade there, And yes I know we have alot more talented coders in Australia which could prevent these types of things from happing, but it still feels unsafe. 

You forget that part of the brilliance of Bitcoin is that if you don't trust anyone, you can keep them to yourself. Bailing on the coin because certain parties are sketchy is pretty silly. Bail on those parties, not the coin.
simonk83
Hero Member
*****
Offline Offline

Activity: 896


View Profile
July 31, 2011, 09:03:20 PM
 #6

I'd say we definitely need an exchange here, or at least an easy way of converting BTC to AUD.   The current methods are either a pain in the arse, or a rip off, or both.   An Aussie Exchange would be fantastic.
Andre Jensen (World Bitcoin Exchange)
Member
**
Offline Offline

Activity: 102



View Profile WWW
July 31, 2011, 10:39:58 PM
 #7

We have all got to band together to make bitcoin big in Australia, what we are experiencing are just small bumps in the long road ahead, as some people say we are still in the basement, step by step we will make the ground floor, its time to weed out the scamers and ripoff artist.

with the Australian dollar at an all time high the costs of exchanging aud to usd,, just to get into the major exchanges like mtgox or tradehill are somewhat covered its transferring back is where we get hit in the pocket.

Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
July 31, 2011, 10:41:35 PM
 #8

At this point in time - No.

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
m4ttanderson
Jr. Member
*
Offline Offline

Activity: 52


View Profile
June 23, 2013, 10:50:12 AM
 #9

I would buy with Coinjar.io (2% fee) and sell with BitradeAustralia (2%) fee
Liquid
Hero Member
*****
Offline Offline

Activity: 742


Bitcoin - The Future Is Now


View Profile
June 23, 2013, 10:54:03 AM
 #10

YES with a capital Y !

3) $0.25c per transaction

I have contacted the foundation about this but they had no structured ideas to get the ball moving

Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
Liquid
Hero Member
*****
Offline Offline

Activity: 742


Bitcoin - The Future Is Now


View Profile
June 23, 2013, 11:07:39 AM
 #11

I would buy with Coinjar.io (2% fee) and sell with BitradeAustralia (2%) fee

Thanks for the info bro  Wink

Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
jimmijames73
Hero Member
*****
Offline Offline

Activity: 504


View Profile
June 23, 2013, 11:16:08 AM
 #12

2) 0.50% per transaction

I would be happy with this fee if I could use credit card or direct deposit.
m4ttanderson
Jr. Member
*
Offline Offline

Activity: 52


View Profile
June 23, 2013, 11:26:36 AM
 #13

I would buy with Coinjar.io (2% fee) and sell with BitradeAustralia (2%) fee

Thanks for the info bro  Wink

No worries. I've been on a quest to find the best prices and un/fortunately it is provided but on two different sites.

Spread the word so people don't get bent over on the buy or selling end Tongue
Liquid
Hero Member
*****
Offline Offline

Activity: 742


Bitcoin - The Future Is Now


View Profile
June 23, 2013, 11:41:18 AM
 #14

https://litecoin.com.au/viewtopic.php?f=30&t=76&p=133#p133

Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
m4ttanderson
Jr. Member
*
Offline Offline

Activity: 52


View Profile
June 23, 2013, 12:22:37 PM
 #15

That's awesome! Cheesy
Liquid
Hero Member
*****
Offline Offline

Activity: 742


Bitcoin - The Future Is Now


View Profile
June 23, 2013, 12:26:44 PM
 #16

 Wink glad to spread the word

Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
moni3z
Hero Member
*****
Offline Offline

Activity: 881



View Profile
June 23, 2013, 07:45:59 PM
 #17

If you want to run an exchange in Australia you can't use banks, they will drop you like they did every previous exchange because of licenses and fraud. Instead I would recommend you approach existing gold/silver businesses, and currency exchange storefronts in Aus/NZ and get them to take cash payments for a small fee from the public and then end of day they send that internally to your westpac or other Australian bank account.

To pay out do the reverse, send the funds back to the store and they pay out in cash. They are already licensed to transmit money and have ID policies in place. This also avoid MITM cash deposit and bank wire fraud since your store guy(s) can provide the customer with a form clearly stating this isn't for an auction and they are funding a bitcoin trading account. When you start ballin' from all the trading fees, you can then afford to float these stores a daily maximum so you can do instant deposit and instant withdraw instead of waiting 24hrs.

To get international payments either these currency FX stores can figure out something or sign up to an intl payments FX transfer service, or do what Bitstamp did by partnering with existing exchanges like http://www.ecurrencyzone.net/buy.php who then take cash payments and forward them B2B.

If I ran an exchange I would never let any individuals touch the accounts with their fraud filled online bank transfers or MITM scams I would only work with established and fully licensed storefronts to take easy cash payments and handle payouts. Now you don't need a license or anything except a website that siphons trading fees since you contracted out all the fiat handling. Run your exchange out of Iceland too, with all your private wallet keys held offline. Don't use Australian TLD's or hosting services that are at easy reach for some idiot government authority to fuck with you.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!