Scam

[Communism_Is_Cancer]

Im more than happy if youd like to send me your real money and ill swap for monopoly money. Its not controlled by the govt either so theres a plus..does your local gun shop accept bit coin as payment for a rifle or ammo gas station wont accept it either.

The Red Rooster at Brisbane Domestic airport accepts bitcoin. However Bitcoin is not ideal as a means of transactions. It is better suited to store wealth.

[Communism_Is_Cancer]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

[northdude]

Its basicaly to push for a cashless society. I doubt very much the people in charge will ever allow anybody to have full control of their money. I dont belive you have total control over your bit coin someone invented it therefore someone controls it other than you..

[bladeracer]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

Must be talking internationally, within Australia the price of goods increases with the price of the dollar. If I had a pay cheque for a week's work in 1966, and I cashed it today I'd probably get about $25 for it, but in 1966 it would've paid the mortgage, the groceries, and everything else I needed, without needing a credit card, and still put some aside for the future. Nowadays your pay cheque covers the basics but you need a credit card to live on, and never have any savings. I don't think we're any further ahead really.

[cz515]

Anyone...I repeat anyone who thinks bitcoin will replace in anyway shape or manner fiat currency is smoking really good sh33t.

It cannot be transacted easily, each update of bitcoin registry takes hours, and this time keeps increasing over time.
The value of bitcoin is not fixed, so how could any rich person put all his money into bitcoin cuz in a week it could be worth half or even 1/10 of what he bought it for.
Plenty of exchanges have gone bust, plenty more been operating fraudulently resulting in investors losing hundreds of millions of dollars.

The mega rich might play with bitcoin..... but they will kep their money in shares, property and the bank

[GQshayne]

I have had a lengthy discussion with a friend who has a substantial investment in Bitcoin. He does it for an interest, and is not overly concerned as to its value. He said to me "If I sold it what would I do with the money?". He has other investments, and this one is mainly an exercise for him. So he prefers to keep it to play around with.

So I had a good discussion on "block chain" and its pros and cons. Quite interesting, but my knowledge is little of course. We also discussed that while we all know Bitcoin, it is only one of many block chains. In the end I concluded that there is one main problem with it for me. A physical asset of some sort can certainly depreciate in value, and for many reasons. But the value of bitcoin can plummet overnight, and it has done. It also has the risk that tomorrow two uni students with laptops will design a better one, and then the value will be nothing.

[bigpete]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

Must be talking internationally, within Australia the price of goods increases with the price of the dollar. If I had a pay cheque for a week's work in 1966, and I cashed it today I'd probably get about $25 for it, but in 1966 it would've paid the mortgage, the groceries, and everything else I needed, without needing a credit card, and still put some aside for the future. Nowadays your pay cheque covers the basics but you need a credit card to live on, and never have any savings. I don't think we're any further ahead really.

You need a credit card to live on ? That's rubbish lol

[cz515]

I think that he means is that almost everyone get their wages paid electronically in their accounts, and have a (or many) credit card which they pay all their bills etc with. I doubt if many absurdly have everything in physical money anymore.

If the government were serious they can confiscate any type of asset, including bitcoin or even gold, as seen in China last year and as has already happened in USA respectively

[bladeracer]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

Must be talking internationally, within Australia the price of goods increases with the price of the dollar. If I had a pay cheque for a week's work in 1966, and I cashed it today I'd probably get about $25 for it, but in 1966 it would've paid the mortgage, the groceries, and everything else I needed, without needing a credit card, and still put some aside for the future. Nowadays your pay cheque covers the basics but you need a credit card to live on, and never have any savings. I don't think we're any further ahead really.

You need a credit card to live on ? That's rubbish lol

I don't have any credit cards at all, but I know so many people that do. I buy stuff with money I actually have at the time, I don't put myself into debt to possess something I can't afford, like a vehicle.

I remembered last night that I still have my very first pay cheque, I never banked it. While I was studying I did a three-week stint as an estimator in a builder's office. That was all it took to know I never wanted to work indoors again
It was, and still is, a great company. They paid me $150/week in '86, when I was paying around 40c for a litre of fuel. A new '85 GSXR750F was $5000, and more than I had, so I went with a secondhand '82 CB1100F for $3500. I finally got myself a GSXR750F in 2002, driving from Perth to Melbourne and back to bring it home, and I still have it.

If I had cashed that pay cheque in '86 I could've bought about 375 litres of fuel. Last week that 375 litres of fuel would've cost me $690, which is probably similar to a weekly wage now?

[bigpete]

I dont have credit cards either.
My weekly take home wage is a little more than $690....but not a lot.

[cz515]

Well playing devil advocate.

The thing is credit card stimulates a lot of economic activity, infact the easy access to credit has created a huge amount of economic activity in Australia and is very probably the reason we have so many high paying jobs

Think about that. Sure like everything good, some people do not know how to use it and cause problems

[Communism_Is_Cancer]

Credit cards are good if used correctly. Interest free loans that are accepted almost everywhere around the world and is backed against theft and fraudulent transactions. You cant go wrong with that.

I pay everything with a credit card. Use their resources to cover the cost than pay off the bill within the interest free period.

As far as I am concerned only a fool would use their currency to pay for things. Why use your currency when you can use somebody else's for free?

[Patriot]

If Bitcoin is actual wealth why not keep it in your pocket?
You don't have to use a bank. You prefer Bitcoin because you hope enough people buy into it that your wealth will increase with no effort on your part, or more simply, because of greed.

It has wealth because people believe in it. No different to any other store of wealth. The only thing with bitcoin is that it has a finite amount.

Bitcoin sounds like a world currency to me. Something the communists and world government advocates would support.

[Communism_Is_Cancer]

If Bitcoin is actual wealth why not keep it in your pocket?
You don't have to use a bank. You prefer Bitcoin because you hope enough people buy into it that your wealth will increase with no effort on your part, or more simply, because of greed.

It has wealth because people believe in it. No different to any other store of wealth. The only thing with bitcoin is that it has a finite amount.

Bitcoin sounds like a world currency to me. Something the communists and world government advocates would support.

Explain how? It is decentralised. Commies love centralisation.

[cz515]

CiC mate you keep saying it's decentralised would you care to explain.

Also can you explain how is it decentralised when Australian government (and others) know when you are adding or removing funds into your wallet

[northdude]

If you believe its decentralized and only you control it you've been scammed...

[on_one_wheel]

"Gold and silver is real money, everything else is just debt and credit"

[bladeracer]

"Gold and silver is real money, everything else is just debt and credit"

Good luck paying for your fuel with gold or silver

[cz515]

Maybe he also forgets what Franklin Roosevelt did in 1933 in the Land of the Free.

Where people were forced to hand over all their gold for a fixed value in fiat currency

[on_one_wheel]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

It's always an interesting comparison to look at precious metals v fiat from 1966, being the year silver was last used to mint coins.
If I'd put 50c in the bank in 1966, assuming it wasn't ravished by fees and charges, today I'd have 50c, in 1966 that 50c would buy you 2 loaves of bread .... now that 1966 50c coin has $10worth of silver in it... I can buy 2 loaves of bread today with that and SFA with my 50c bank savings.
The lesson here Is, the worst possible place you can leave your savings is in the bank

[bladeracer]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

It's always an interesting comparison to look at precious metals v fiat from 1966, being the year silver was last used to mint coins.
If I'd put 50c in the bank in 1966, assuming it wasn't ravished by fees and charges, today I'd have 50c, in 1966 that 50c would buy you 2 loaves of bread .... now that 1966 50c coin has $10worth of silver in it... I can buy 2 loaves of bread today with that and SFA with my 50c bank savings.
The lesson here Is, the worst possible place you can leave your savings is in the bank

It has 10.6gm of silver in it, worth A$10.60 today, less brokerage, and after you separate it from the copper.
I have a bag of round fifties somewhere.
What does it cost to separate the copper from the silver these days?
Think I'd rather keep them for their curiosity value than their dollar value.

Worst thing you can do with money is save it. You work hard to earn it so you have a better life, not so you can give it to your relatives when you die, that's what insurances are for. Spend it and experience life, you only get one lap of the merry-go-round.

[on_one_wheel]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

It's always an interesting comparison to look at precious metals v fiat from 1966, being the year silver was last used to mint coins.
If I'd put 50c in the bank in 1966, assuming it wasn't ravished by fees and charges, today I'd have 50c, in 1966 that 50c would buy you 2 loaves of bread .... now that 1966 50c coin has $10worth of silver in it... I can buy 2 loaves of bread today with that and SFA with my 50c bank savings.
The lesson here Is, the worst possible place you can leave your savings is in the bank

It has 10.6gm of silver in it, worth A$10.60 today, less brokerage, and after you separate it from the copper.
I have a bag of round fifties somewhere.
What does it cost to separate the copper from the silver these days?
Think I'd rather keep them for their curiosity value than their dollar value.

Worst thing you can do with money is save it. You work hard to earn it so you have a better life, not so you can give it to your relatives when you die, that's what insurances are for. Spend it and experience life, you only get one lap of the merry-go-round.

Their difficult to buy at spot price, they generally ask spot plus 10% minimum and fetch around $15 on ebay.
I got a few hundred round 50's mostly purchased close to spot some years ago when I went nuts on silver. Definitely worth hanging on to.
You don't really need to pay brokerage, I've traded tens of thousands $$$ in gold and silver without paying a cent in brokerage, there are forums dedicated to trading such as "silverstackers" where you can trade privately, or you can accept spot price at most jewellery stores... easy as.

[bladeracer]

Check out this graph of the Australian dollar from 1966 to 2020. The purchasing power of the dollar is around 14 times less than it was in 1966.

https://www.statista.com/statistics/105 ... ince-1966/

It's always an interesting comparison to look at precious metals v fiat from 1966, being the year silver was last used to mint coins.
If I'd put 50c in the bank in 1966, assuming it wasn't ravished by fees and charges, today I'd have 50c, in 1966 that 50c would buy you 2 loaves of bread .... now that 1966 50c coin has $10worth of silver in it... I can buy 2 loaves of bread today with that and SFA with my 50c bank savings.
The lesson here Is, the worst possible place you can leave your savings is in the bank

It has 10.6gm of silver in it, worth A$10.60 today, less brokerage, and after you separate it from the copper.
I have a bag of round fifties somewhere.
What does it cost to separate the copper from the silver these days?
Think I'd rather keep them for their curiosity value than their dollar value.

Worst thing you can do with money is save it. You work hard to earn it so you have a better life, not so you can give it to your relatives when you die, that's what insurances are for. Spend it and experience life, you only get one lap of the merry-go-round.

Their difficult to buy at spot price, they generally ask spot plus 10% minimum and fetch around $15 on ebay.
I got a few hundred round 50's mostly purchased close to spot some years ago when I went nuts on silver. Definitely worth hanging on to.
You don't really need to pay brokerage, I've traded tens of thousands $$$ in gold and silver without paying a cent in brokerage, there are forums dedicated to trading such as "silverstackers" where you can trade privately, or you can accept spot price at most jewellery stores... easy as.

My dad never carried change, he emptied his pockets into a drawer every night. He came to Oz in '66 and soon had piles of coinage. When they dumped the round and went to the current shape he put all his "rounds" in bags and kept them figuring they'd be worth something one day. Even at $15 apiece to collectors they're worth no more today than they were in his pocket 55 years ago. Petrol then was seven cents a liter, so seven litres for your round fifty. Now you sell your round fifty for $15 to a collector and can buy maybe nine litres of fuel, I think I'd have made better use of that fuel 55 years ago myself. But it certainly wasn't worth hanging on to them for their silver value as you won't even get your seven litres out of it.