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EU plans to make Bitcoin transfers more traceable

bbc.com

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Re: EU plans to make Bitcoin transfers more traceable

#201

Post by denkmoon »

d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

>Stop fantasizing that the government cares about the shit you buy. This is not about you.

Except they fucking do, otherwise I could walk down the road and buy my cannabis from a legal business.

Re: EU plans to make Bitcoin transfers more traceable

#202

Post by dheera »

delaaxe wrote: post #188
d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

> You can’t show up in a bank with a bucket load of $100 bills and open an anonymous bank account. You used to be able to do this at HSBC, and for a very long time, before all these annoying KYC laws

You might still be able to do it in Switzerland?

Re: EU plans to make Bitcoin transfers more traceable

#203

Post by [deleted] »

voldacar wrote: post #145
Trias11 wrote: post #10

That's why the move to decentralized everything. This total control nonsense will eventually end and these dinosaur idiots will stuck with their own destructive ideas

I really, really want to believe this but I don't think I can. Over the past several years there has been an unquantifiable but subjectively enormous shift in the atmosphere of the cryptocurrency world. At one point it shifted from being about paranoid hackers and techies trying to create a way of doing transactions that was free from trusted third parties to being essentially a space for grifters to shill shitcoins…

[deleted]

Re: EU plans to make Bitcoin transfers more traceable

#204

Post by Bancakes »

tamrix wrote: post #152
d--b wrote: post #141

I’m amazed by how short sighted most of the comments here are. When it comes to large financial operations, society has clearly chosen transparency over privacy. Cause guess what, tax evasion, money laundering, political fixing, terrorism financing are things that exist and really are hurtful to our economies. Stop fantasizing that the government cares about the shit you buy. This is not about you. And Bitcoin’s anon…

Society can vote with its wallet.

There is no negative vote with a wallet. Only positive and neutral.

Re: EU plans to make Bitcoin transfers more traceable

#205

Post by dheera »

thomasahle wrote: post #16
shiado wrote: post #13

Cash wouldn't be allowed to be invented today.

Cash mostly isn't allowed today, if you are transferring large enough sums of money. Probably for the better.

I don't think there are any laws preventing that, it's just that businesses may not want to deal with the liability, and it makes you a target.

Re: EU plans to make Bitcoin transfers more traceable

#207

Post by young_unixer »

elmo2you wrote: post #83
BitwiseFool wrote: post #36

Earlier quoted context omitted.

What about generating your own wallet? Are EU citizens required to report that when they do?

I believe that the moment you hold valuable assets (i.e. any value of crypto currency) in any wallet, then you should report that (even now). I have no idea how these new rules will play out, but I can image how exchanges might be forced allow only transactions with "sanctioned" wallets (i.e. traceable to person), and international exchanges not playing complying being blocked from to the EU market.

No, sir. I lost all my Monero in an unfortunate boating accident.

Re: EU plans to make Bitcoin transfers more traceable

#208

Post by Semaphor »

elmo2you wrote: post #83
BitwiseFool wrote: post #36

Earlier quoted context omitted.

What about generating your own wallet? Are EU citizens required to report that when they do?

I believe that the moment you hold valuable assets (i.e. any value of crypto currency) in any wallet, then you should report that (even now). I have no idea how these new rules will play out, but I can image how exchanges might be forced allow only transactions with "sanctioned" wallets (i.e. traceable to person), and international exchanges not playing complying being blocked from to the EU market.

> I believe that the moment you hold valuable assets (i.e. any value of crypto currency) in any wallet, then you should report that (even now).

First I hear of that. In Germany, you have to report gains you got from trading/selling (both crypto-to-fiat and crypto-to-crypto), but not simply buying any. Do you have a source?

Re: EU plans to make Bitcoin transfers more traceable

#209

Post by pas »

dheera wrote: post #202
delaaxe wrote: post #188

Earlier quoted context omitted.

> You can’t show up in a bank with a bucket load of $100 bills and open an anonymous bank account. You used to be able to do this at HSBC, and for a very long time, before all these annoying KYC laws

You might still be able to do it in Switzerland?

They will spend a lot of time to make sure you are not a US citizen. At least the big Swiss banks. And frankly any bank that wants to do business with/in the US/EU, or wants to process bankcards.

If you want to launder money there are people for that, they will take your money, set uou5 up with legitimate businesses, put your money into other businesses and over some time those businesses will order a ton of shit from your ones, so you'll end up with a lot of clear after-tax income.

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