AUD

smilingbuddhauk

Yeah btc was nowhere close to $100 (USD or AUD) in 2011.

dvsbyknight

Price of btc peaked at around 30 AUD in 2011.

delhibuoy

Guy said AUD not USD

Captain_Planet

Well for a start you were being massively ripped off in 2011 paying $100AUD for a Bitcoin!

OGAcidCowboy

Buying bitcoin in 2011 was not as easy as buying anything online… technically back then it was “illegal” to create a currency unless you were a sovereign nation… it was also almost exclusively used for illegal purchases made on the dark web so no it definitely was not easy at all… And considering bitcoin’s exponential growth rate even back in 2011 it was definitely something that would attract scammers… in 2011 bitcoin had more than doubled in a year by 2012 it had gone from $100AUD to like $500AUD then it was literally increasing in value so quickly that Silk Road was struggling to keep its prices accurate as almost as soon as a price for an item was listed the Bitcoin would increase in value making the items extremely overpriced… What makes you think that hackers on the dark web wouldn’t make scams around the still low priced bitcoin knowing the inherent value would increase… I doubt they thought the increase would be so quick and so much but I don’t see how they wouldn’t see value in a relatively simple scam that once set up was set and forget and just wait for the bitcoin to roll in…

adzyoyo

Kraken but there is limited AUD pairs. Coinspot is good too it's only a 0.1% fee to trade on "markets" off other people not the "buy/sell" tab which is purchasing off them for an inflated price and 1% fee.

Ecstatic-Media-6774

I’ll spend $5000 AUD for Btc

jimmux

Believe it or not, yeah it was around 96 AUD today.

lukeyboots

Ha. Talking to a fellow Aussie. I’m well aware of how fucked our housing market is, in part due to Neg. Gear. It’s an absolute rort and should be discontinued. But so many investors already on the hook for it & have built their portfolios around it. So will be hard to wind back. But props to you for using the system to your advantage while you can! $66.5K AUD or US?

KingNabopolassar

Nah banks don’t care . I withdrew 900k AUD a week ago through IR. No questions . No frozen accounts

Jober95

I am also in Australia. Here what I did and what I would recommend: > Look into & make sure you understand cold storage and private keys. > Get yourself a cold storage wallet - I use Trezor. Use that understanding of the importance of private keys to store them securely. You could also look at testing out a recovery to make sure you're confident with the cold wallet. > Create an account on an exchange and verify yourself. I use Independent Reserve but there are others that you can compare fees on such as Bitaroo, Kraken, etc. > Deposit $AUD into the account once verified and then exchange for Bitcoin. > Send a test withdrawal from the exchange to your cold wallet (a small amount to ensure it works). This is where the verification is important because it seems like exchanges will only allow it with KYC verification. > Withdraw the rest of your bitcoin off the exchange into cold storage. Noting that it might not be efficient if you are doing regular, smaller amounts as there is a fixed withdrawal fee from IR (and I assume others).

AppleSalty2916

Watching everything jump back up as I’m scrambling to get my AUD on different exchanges but nothing wants to work. Opportunity missed ffs

MrRad21

Welp I didn’t use leverage learned my lesson with oil last crypto season ahhh -8k AUD this season for Crypto -70k sadge.

codingwithcoffee

It is great. FWIW I'm technically a "contractor" not an "employee" - but same concept. My US-based client pays me direct to my (company's) cold wallet address and they even cover the fees. (Which in most cases have been around $15). It's cheaper and faster for both of us than PayPal (which was costing me over $200 in fees out of each payment I received). I have sent invoices and received payment within minutes - on a Sunday. For those wondering - yes - I do pay all my taxes. The amount is recorded in USD for taxes, converted to AUD at the current daily exchange rate. The bitcoin has this number as its cost base and I will pay capital gains tax on it when/if I eventually sell. I have other income sources that I use to actually pay taxes and living expenses - so I am able to leave the bitcoin untouched for now. What has been cool is looking back at invoices from earlier this year, and seeing the value of my work has increased simply because Bitcoin's value has increased. It makes day-to-day volatility easier when most of my Bitcoin was acquired at a much lower value. It gives me painless exposure to Bitcoin in my portfolio. So I guess what's changed for me - I'm no longer having to even think about transferring money to Coinbase - how much do I buy today, buying it, transferring to my cold wallet. I just automatically receive BTC to my wallet. It's almost like Bitcoin is "a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution." Magic internet money for the win!

Upstairs-Purple124

When’s best time to buy back in , in AUD for BTC please. Missed the last hyper because of fear

Altruistic_Nobody579

Already 100k in AUD

HauntingBrick8961

Stake SMSF (the cheaper one). Then buy the ETF eBTC which is priced in AUD. I did this with a balance a little higher than yours. The fees are high though but happy with it so far as I didn't want to self custody retirement this isn't financial advice

RawDick

Look. Take that 250k AUD, all-in on BTC now and check back 10 years later. Maybe keep some for emergency use but put most of it into BTC. Don’t look at stocks or other bullshit. I’m giving solid advice.

Paulos1977

Solid advice. My apologies though, this is AUD. so only about $150k USD

fonaldduck099

And gold is valued in many things. One of them USD. another AUD. Another Euro. And so is BTC.

dlm83

All time high, relative to everyone, is just a price. Not an inflation adjusted return. People also calculate inflation adjusted returns, but there are multiple variables and they don't apply broadly so therefor it's not a standard way to measure something as simple as an all time high price. Investment price comparisons can be made quickly for an understanding of the current state and the calculation is standardized. It is a simple measure using units that are the same for anyone. So ATHs are simply a measure of prices (in a specified currency) relative to highs, a form of measuring nominal returns, and it is the same number for everyone without any subjectivity. When you start adjusting returns after taxes, inflation, and any other costs, it's no longer a standardized measure. E.g. an ATH in any currency compared to the current price in that same currency means the same thing regardless of what currency an investor uses for their investments, and for a global investor group, USD is the currency most people are calibrated to outside their own (if different) for a universal BTC ATH price comparison/conversation. But even then, as has happened in this run up, we can all easily understand when BTC hits an ATH in any currency and people have been celebrating their currency ATHs with zero controversy or subjectivity. If the price of BTC in AUD is higher today than its highest AUD price before that, we can all see that number and agree with little fuss or need to be up to speed on Australian exchange rates, inflation rates, economy, cost of living etc. We just know its an ATH in AUD and we are all calibrated on how its calculated. But for example, inflation adjusted returns are completely irrelevant to the majority of people from the get go since your metrics are based on a currency only some people use to invest (and even they won't be calibrated to the measures and methods you used to come up with your adjusted ATH metrics, nor did they buy at the same prices or have the same costs impacted by inflation etc...). And that's the least of the complications and variances that are not the same for any two people. DYOR but for the intents and purposes of illustrating ATHs as nominal returns being universally relevant vs. an inflation adjusted return metric very much not being so, it's close enough. I probably should have just pasted this: [Nominal Return vs. Inflation-Adjusted Return](https://www.investopedia.com/terms/i/inflation_adjusted_return.asp) > >

miyamotolawnmower

I'm Aussie too and generally speaking, you'll be hard pressed to find an Aussie exchange that happens to have a wide variety of the more niche coins. The way I've always done it is to just buy something like BTC or ETH from a reputable exchange (BTC Markets is my go-to) and then transfer that to a smaller exchange where I convert those to my coin of choice. Essentially any of my AUD transactions (whether it's depositing or cashing out) are done through an Aussie exchange, but all of my trading in the smaller coins has been on something like Binance or Kucoin. I just convert to BTC then transfer back to BTC Markets when I want to cash out.

JovialApple

This is the hard bit. Not sure how long I can hold and I only have 1/3 of OP. Is easy if you only have what isn’t substantial amount of money in but if you have what you couldn’t bare to lose in then it’s bloody hard. Already seen my 38k AUD portfolio drop to 32K at one stage and I was like farrrk that 6k down. Anyways I haven’t sold yet. Think is back at about 36.5K Can I handle 25% drop even knowing almost for sure it’ll be back up within year - not sure…

slugfive

As an Aussie, as far as I know there is no Binance Australia. In fact there were many many emails to tell Australians that AUD was being taken off Binance and relevant trading pairs. For example: “FINAL REMINDER - Suspension of AUD PayID fiat services today at 17:00 June 1, 2023 AEST. This is a final reminder that users will not be able to withdraw AUD directly to their bank account using PayID after 17:00 June 1, 2023 AEST.” There shouldn’t be any way for aussies to easily use Binance any more. I still have my account all In USD there but I’m lazy. I recall having to sell all the coins to usdt that were being removed too. If he had a lot of AUD fiat it might have been an issue.

JohnHue

Come on... what interest would Binance have in doing this ? They're making billions just in fees, they have nothing to gain by draining even a few thousand accounts from a mere 5k AUD. I'm not saying "trust the exchanges" or that Binance is perfect, but the way this is presented here it's more likely to be user error than anything else... I looked up some Binance articles regarding its dealing in Australia and all I could find was Binance delisting AUD pairs, nothing about closing accounts, actually Binance is still operating and legal in Australia as far as I could tell, it's just that their banking operations are being heavily restricted by the authorities so it makes on/off ramps complicated.

miyamotolawnmower

I've always used btcmarkets for any purchases or cashing out with AUD, never had a problem with them. Their trading fees are a little on the high side though. Apparently Independant Reserve is good too, but I haven't personally used them so I can't comment.

Maddog351_2023

I had similar with CoinJar Forgot I had some money in btc in 2013/14 and signed in other week, $2500 AUD. Only had $40 or so.

LilDonkey42

Im also in Aus and mostly use Binance for the low trade fees (0.1%) but they no longer have an easy/free way to load your AUD on to start with. SwyftX is super easy to use for a beginners (as every crypto can be bought with AUD rather than converting to stablecoins first) and you can send money from the bank for free with payID. Downside is that fees to buy crypto are higher at 0.6%. I’d still suggest SwyftX if you’re just planning to buy and hold rather than regularly trade

germanpickles

CoinSpot is one of the most popular ones down under. They will go through a KYC process (Know Your Customer) which involves ID check and upload. I’m not a financial or tax advisor but be aware that as soon as you trade in your BTC back to AUD or swap for another coin, it’s a taxable event. Best is don’t sell or swap until 1 year has passed as the tax rate will be lower.

Thisisthewaymaybe

Correct. AUD users are getting fleeced but our CAD to usdc spread whilst not almost zero as it was before the depegging happened, still better than 4% they need to add fiat rails to their exchange in Canada and available countries. It's a good exchange but whether by design or careful negotiation and preparation at the jurisdictions they want to operate; it's expensive to trade in the CDC app. These days in mostly use them for custody and not much else.

Invalesco_POE

What’s stopping you from converting AUD to USD via an external broker with favourable forex rates and then depositing USD into the exchange?

avadreams

It is that high. I've raised it before but people told me I was just dealing with foreign exchange rates, it's not. There is a huge spread on stable coins and AUD.

randomdimised

You need to change your currency to USDC to use the exchange, which has a 4.99% fee for AUD/USDC.

randomdimised

You need to change your currency to USDC to use the exchange which is 4.99% fee for AUD/USDC.

randomdimised

Doesn't matter if an exchange is available or not. In Australia you must convert AUD to USDC which is 4.99% spread to trade on the exchange. Or buy crypto in the app which has a lower spread of 3.90% and then move onto exchange to trade. However you will be bitten either way. Once the exchange is available in US. I believe its intentional why they're delaying it as much as possible then everyone will actually realise there are hidden fees built into the spread.

Odd_Luck6482

Who ever could have predicted that shit.. honestly. I made out like a bandit with $1k AUD for commenting here. I never farmed or cared until it mooned. I hope I can get rewarded for genuine interest in peoples posts again some day.

bvrgvndy

I think he means AUD

Room0814

It isn't much of a problem if they need to verify with someone before approving requests if the bank is concerned about fraud risk and temporarily suspends a user's account as an extra security measure. However, it becomes restrictive when banks start capping cryptocurrency transactions, limiting one's freedom to manage their assets. For example, CommBank puts a cap of 10k AUD per month, NatWest £5k / month, Nationwide £5k / day, hsbc restricts £2.5k for a single transaction and no more than £10k per month. I'm curious about the macroeconomic impact of this, it's likely to backfire and have an adverse reaction tho. Companies that partially pay their employees in crypto might start fully paying them in cryptocurrencies. Businesses are most likely to rely on cryptocurrencies, and so forth

Effective-Ad2022

Bitcoin is at an all time high and has just finished a bull run. There’s no telling exactly where it’s going to go, maybe it will keep going up? But I would wait for it to completely bottom out. Last time it bottomed it stayed low for months (over a year?) before it started to climb back up. I left mine in for 18 months and made 50% before taking it out at about $105000 AUD

hookmasterslam

$BTC would be one way to note Bitcoin as another currency, similar to how you see $AUD for the Australian dollar. It's all about context clues

fonaldduck099

I'd go ING Direct. Osko payments limited to 1k AUD, but subsequent payments have been lately processed well within 24 hours.

Odd_Luck6482

BTC down 7% but I’m still hesitant to buy over $100k AUD 😅 seems so high from buying at around $25k in the crash. But here I go..

iRollGod

Just change your fiat type to AUD. It’s over $110k for us lol

Yakka43336

Algo crosses $50c AUD, lezgoooo

OriginalPancake15

Yep. 108k AUD at the moment

bitcoin_avocado

The BTC price has gone up since this post. I put in about AUD$70K between 2015 and 2021. It's now worth just under AUD$1.2M.

wefconspiracy

Damn, AUD is a shitcoin. Even CAD is holding up better

ZippityTheZapper

My bad I was looking at it in AUD.

herbertdeathrump

I have a bit of BNB, but I can't sell it for my local currency (AUD) because Binance no longer accepts AUD. If I sell it for anything it triggers a tax event and if I sell it immediately then I get less capital gains. What should I do with it?

Shoemugscale

BTC and crypto for that matter has a set value, that value may he 10 usd or 70,000 usd, but if i trade in another country it may be trading at 100k AUD or what ever currency. The value is reletive and if a nations currency is parody with the usd then, sure , they could print $ to buy btc but, just like crypto, if you add more supply you devalue the price. So, while a country could print 1 billion $ and try to buy BTC nobodynis going to sell them 1 billion if the currency is worthless

riscten

USD isn't rising against stocks, BTC and precious metals. It's not even rising against EUR, GBP, CHF, AUD, CAD. It's only rising against JPY and CNY People are swapping USD for stocks, BTC and precious metals. USD is falling, and Asian currency is falling even harder. The rest is balancing out by going up. That's it.

Maddog351_2023

Well I made money FYI -$50 AUD TO ABOUT $2500 AUD Inflation? Pffft

Wendals87

1 million pepe is like $12 AUD. It is a shit coin by many peoples definitions but it is popular and has liquidity

lazypostman

I found out about BTC in 2012 and set my computer mining and got .6 BTC, but the having made it too hard for me to mine anymore. I really wanted 2 Bitcoins, so I filled out a dodgy online form in 2013, I had to go to a bank and deposit about $350aud into some random bank account. At the time this was all the money I could save over a few months. I could only help but think, how is this anything but a scam. 1 hour later, 1.4 Bitcoin appeared in my wallet. FYI, I did panic sell late 2017 at 20k AUD per BTC. I did buy back in at the start of last year. Don't regret selling a I gave my family a great Christmas. At the start of 2012, I think you would have had to have met someone in the car park to buy Bitcoin. I don't think I would have been that brave.

qldvaper88

That's a nice policy. Much like anywhere (Australia) we only have to pay tax on 50% of the profit after a year of ownership however the tax rate is based on your marginal rate, so the only way to get the tax free profits would be to withdraw under the tax threshold for a given year assuming you weren't also employed, which is about \~20, 000 AUD gross per year.

chefguy831

Crypto.comets you buy in AUD

nihil1st123

*gestures towards Solana when it was $13 AUD* now its nearly done a 20x n i didnt pull the trigger 😔

Squishishere

Hey bro, I just want you to know I am in the same boat. I had around $7000 FET dcaing at $0.2 - 0.3 AUD price every week last year, and I had just lost my job and had to sell it to live pretty much it’s now at $3.20, i literally have had thoughts of ending things because of how many times this has happened where I could be well off. But shit happens yk, it hurts but there’s always another chance to make money. Much love bro, I know how you feel. I forgot to mention There’s that time I invested 5k into Ben held it over night thought that shit was gonna crash and took it out, saw it do a 20x or something I don’t remember too much and I don’t want to.

Maddog351_2023

Still have a few hundred worth. Lol Bitcoin still at $65,000 AUD

SeaworthinessSad7300

It already is 100k AUD

MuffinMan12347

As someone from Australia and thinking of it in AUD and it currently being $100k+ right now, this was a really funny comment.

brisnatmo

It wasn't so long ago that AUD reached 1:1 with USD. How times have changed

doomslothx

**to note it’s in AUD

Correct-Breadfruit32

100k AUD was a goal for a lot of aussies, I think the selling boat is beginning in the southern hemisphere …

_NottheMessiah_

Sucks to hear OP. I have always been relatively lukewarm about BTC as I was never really in a position to put serious money down on it when it mattered. I found out about it in 2012 when I didnt have a job and was earning a student allowance that went solely on food and rent. I managed to put a tiny bit of my savings into it, and ended up selling that to pay rent some time in 2016. By then I had understood the potential of it, and it fucking hurt, but not moreso than what happened next. My grand mother passed away, and prior to this had verbally stated that she wanted her estate split equally between my brother and I and our parents. It wasnt a life changing amount but I was going to sink it into BTC and ETH and forget about it until it matured. I had no grand designs for it, but hoped maybe that I could one day use it to buy off a significant portion of a house. My parents thought i was being foolish, and outright refused to give me my share of the money, saying they would hold onto it until i was financially ready to use it. They thought it would make more financial sense (according to their advisor) to keep it in Mums superannuation (growth rate 3.5% p.a. or something similar). BTC is passed 100k in AUD now. If i'd had my way i could have bought an entire house by now. Instead, im doing the safe option by everyone elses standards and can barely afford to save for a deposit in the exact same position i was in when i was a poor uni student. They denied me my chance at a significant leg up. Hurts every day since it reached 10x where i would have bought in.

brisnatmo

Australia. $10k monthly limit in AUD. Roughly $7.5k USD

Notarandomthrowaway1

its above 100k AUD

BobMackey87

Nah, discipline is discipline. $100 - $125 AUD weekly DCA.

Roargasm13

BTC has smashed past AUD ATH, so only a matter of time for USD too surely. Although, I am in it for the alt pumps

peterisnothere

geeze AUD devalued a lot in the last few years. I remember when it was only 1.3 or 1.4 against USD.

Fun-Ad-5571

It’s already at 91.5k in CAD so 100k isn’t too far off. Also he didn’t say what currency, AUD is already 100k+

tianavitoli

look at the gold price vs every other currency massive breakout on CAD AUD JPY GBP then you get into the shit pairs like Turkish lira

prean625

Interest rates.  Australia for example can not lift its rates as high as the USA can as it would simply crash the economy. They don't have 30 year fixed mortgages (among other differences) so high rates are all passed on to those in debt far quicker and they hit hard.  Having a higher interest rate (aka cash rate) makes parking money in the US dollar far more attractive than the AUD for any investors and causes the aussie dollar to devalues in relation. 

arzahid

AUD 100,000

slvbtc

Bitcoin has gone from $65k AUD to $100k AUD in a matter of weeks. Thats how fast bitcoin can go from $65k USD to $100k USD. A few freaking weeks!!

skewdub

AUD too !

OriginalPancake15

I see you’ve played AUD/USD before.

Easy-Awareness-8283

BTC just hit 100k AUD 🙏🏼 HODLGANG

sensaisean191

I sure could get used to seeing btc at 100,000AUD

marblemorning

100k AUD baby leggo

UnitOfAccount

AUD price living in the future of USD price

Asleep-Resident-4478

Australia down too. Although in NZD & AUD case it is still behind in inflation-adjusted terms (money printer goes brrrrr)

Hasra23

AUD, I just saw it tick over.

Careless_Culture9680

Bitcoin just hit $100,000 AUD 🔥

sensaisean191

It hit ATH in AUD a few days ago...so close to breaking it again

pastelplantmum

I had to sell my pitiful $40AUD worth. Thanks, cost of living 🫠

loah99

I have something to admit: I was one of those people who loved Safemoon. I was in denial, but it's hard to hate when you and some good friends are 150x your money. I was lucky; AUD 150 netted me 20k USD at 22 years old. This was a godsend.

ChurchOfAtheism94

Each currency has its own Bitcoin price, different to the BTC/USD price you're probably familiar with (\~62k). These prices are different because some currencies are weaker/stronger than the USD. ​ Same goes for the ATH in 2021, each currency's Bitcoin valuation back then was different and the currency may have weakened or strengthened relative to the USD in the 2+ years since then. Take my country Australia as an example. In those 2+ years, the Australian dollar has weakened relative to the USD, that's why the price of Bitcoin in Australian Dollars has already reached above what it was on the day of the 2021 BTC/USD ATH. ​ See the column "Price at ATH". The data in the back end tells me that the USD/AUD exchange rate was 1.36 on that day (1 USD = 1.36 Australian dollars). The BTC/USD ATH was 69k. So 69k x 1.36 = 94k (This was the 2021 ATH for the Australian Dollar) See the column "Price Now". 1 BTC = 95k Australian Dollars. Why? Because today, 1 USD = 1.53 Australian dollars. The BTC/USD price is 62k. So 62k x 1.53 = 95k (This is the price now) ​ 95K (today) is above 94K (2021), so Bitcoin is above it's 2021 ATH in Australian Dollars. So are 57 other currencies!

spooky_corners

I guess what I'm saying is that I could trade my dollars for other currencies as well, EUR, AUD, etc... but those effectively aren't "money" either in a local sense. I have to convert them to USD to transact with them because, as you say, that is the unit of account in my country.

Guru_Salami

They credited hia account with AUD

Amareisdk

Didn’t see it was AUD 🤦‍♂️ sry

bitcoin_avocado

I'm from Australia. It's in AUD.

RevolutionaryPhoto24

AUD

RevolutionaryPhoto24

AUD

the_lone_unlearned

ahhhh I was about to comment this is fake cuz the numbers don't even match haha. Good spot on the AUD!

JesC929

Spreadsheet has an error. P/L delta should be the same as your cost, unless im misunderstanding what you’re trying to represent. Might be the AUD/USD part throwing me off. Either way congrats!

wazman93

It’s in AUD, and in Australia btc is $96,500 right now

penty

Yeah but it's AUD so we need to put a negative sign on it. /jk WAGMI

bitcoin_avocado

I think those first few purchases were in USD, so that US$100 was about AUD$146.

RiseBasti

What is AUD?