BITCON... WHY its totally FLAWED

willrocks said:
Phiber said:
MtGox seems pretty straight forward... I suppose other exchanges have means of withdrawal as well.
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I'm using MtGox to withdraw.

Buying a cheap house in NZ. 15% rental return per annum.

So a 3K Bitcoin investment got me a fully paid 3 bedder in NZ, with steady 15% return for the foreseeable future. Not bad.
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WINNING!
 
Got a KNCminer ASIC preorder up for grabs under items for barter thread. 175ghash/s and 350ghash/s miners available for purchase.
 
willrocks said:
I'm using MtGox to withdraw.

Buying a cheap house in NZ. 15% rental return per annum.

So a 3K Bitcoin investment got me a fully paid 3 bedder in NZ, with steady 15% return for the foreseeable future. Not bad.
Click to expand...

Nice work - what city?

I'm back over there at the moment looking at property down south, huge 4 bedroom near new houses for under $300,000 and postive gearing opportunities everywhere.

Supermarket prices seem to have skyrocketed since last time I was here though...$15 for a kg of cheese!!!
 
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Sigh, lol
 
willrocks said:
mmm....shiney! said:
Australia is and always has been an agricultural based economy, throw in mining and that's what we are.

So you are saying NZ is different? :lol:

Well you got me confused. The NZD was the second highest appreciating currency behind the Kroner over the past year, it's Reserve Bank is actively selling NZD in order to devalue it's currency and it's housing affordability rating is higher in the major metropolitan market (that's 2nd behind HK) than Australia and 3rd in the world behind HK and Oz in all markets.

Yep, NZ has agriculture, so does Oz.
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No. Australia's biggest exports are iron ore and coal, in that order. The majority of both going to one place, China. Coal exports because they use it to process the iron.

China has been building vacant cities for a decade now. That's where a lot of our iron ore is going. China's city building has slowed/stopped. That will leave Australia with big problems.

NZ's biggest exports are food/agricultural based. It's my opinion that agriculture will be the next boom / bubble sector after commodities.
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No? No to what? No to Australia having rural exports? I could a sworn we grow shit and send it overseas. Anyway.

Good old NZ - you know who their two biggest export markets are? China and Australia. That's a royal flush isn't it? They got both bases covered in the event of an economic slowdown.

And don't forget their housing affordability is "severely unaffordable" or are you just ignoring that statistic. But they're different aren't they? :lol:
 
mmm....shiney! said:
willrocks said:
Phiber said:
MtGox seems pretty straight forward... I suppose other exchanges have means of withdrawal as well.
Click to expand...

I'm using MtGox to withdraw.

Buying a cheap house in NZ. 15% rental return per annum.

So a 3K Bitcoin investment got me a fully paid 3 bedder in NZ, with steady 15% return for the foreseeable future. Not bad.
Click to expand...

Not bad? That's awesome, I'm jealous. That's unlikely to be ever repeated again. Nice one.

Although I am amused you bought RE :lol:

Wait until reno finds out. ;)
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Well well well willdrops ........Good work . :lol:

Well said shiney that is awsome & im jealous too i had to work for mine ... Nice to see the younger guys making wise decisions . Im genuinely happy for you will now all you need to do is get a real boat that inflateable one from kmart will perish in the sun :p:
 
Now just waiting for it to get verified.

Still in two minds about what BtC will end up doing, but I figure I am going to cash out half of what I've got soon (and spend some on a new NAS I wanted for a while now).

Rest can just sit there in my wallet!
 
willrocks said:
I'm surprised cheese would be expensive given dairy is NZ's main export.
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It's probably coz they have a free-trade agreement with China. Free-trade generally means consumers or producers have to take it up the bumhole.

Apparently the free-trade agreement they have is kicking Australian producer's arses, apparently.

Still, free trade agreements are why we have to import Thai or malaysian pineapples or apples from NZ - so they must be good for a country. It'll also mean we won't have to catch and eat any of our own seafood one day, we can just import Basa from Vietnam or farmed mud crabs from Bangla Desh. :/ :(
 
Ah, so instead of "Australian BSB" option, I should be going for the SWIFT code one?

4000 Yen fee, and my bank charges $10 fee too. Total of $52 in fees for withdrawing maximum of $1000.

Shite.
 
Well, fingers crossed other exchanges will be coming online. Not sure if I see it happening though... a bit uncertain on this at this stage.
 
Only time will tell Shiney!
But things do not change in a few weeks.
We'll see where it's at in a year or so - who knows what it'll be then!
 
But I personally still see the benefits and these have not changed. Actually these relative issues with MtGox might just be the opportunity for the market participants to jump in.
As from the beginning, could go absolutely both ways.
 
mmm....shiney! said:
So, is it still the currency of the future? :cool:
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Why else would the Governments of the world be trying so damn hard to stop Bitcoin? lol.

Although that in itself is what worries me for the short term.
 
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