161–170 of 802 posts
> The consumers can make cash payments without any limits.
> The traders, however, need to register themselves with tax authorities as 'High Value Dealers' if accepting cash payments in excess of €10,000
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I think that the crypto end game, in their eyes, is to never have to cash them in.
Why would you never cash in stablecoins? They are used for payments
There is a Financial Tyranny Index by Vexl Foundation published here: https://github.com/vexl-it/fti/blob/main/fti.pdf Among other things, it shows Cash Limits in various countries: Greece 500 EUR, Spain, Italy, France 1000 EUR, Israel 1500 EUR, ...
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> "There is no cash limit for car purchases" wth? Cash isn't great, but some people don't use online banking - and in a private sale, only a fool would hand over their car keys to a stranger in exchange for a cheque . (Of course, this was a much bigger issue 15 years ago - these days we have faster payments, and the vast majority of people can make payments from their phone.)
>Cash isn't great, but some people don't use online banking This is the US version of the events. I don't know all EU member states in detail, but I can't think of one where it's possible to receive salary/pension in cash. Cheques have not been a thing for 20y+, I wonder if they are still issued.
It's always interesting to watch any EU-specific topic come up on HN and see people on one end of the EU assume that their lives, local laws, and customs are exactly the same as the lives, local laws, and customs on the other end of the EU. And then when a deviation comes up, they assume it's an American thing.
It seems like people in the EU should explore their neighboring countries more. Or at least stop assuming that the EU is one homogenous society modeled after their own personal experiences.
There are many similar restrictions on other countries. Here is a list for Europe: https://www.europe-consommateurs.eu/en/shopping-internet/cas... The equivalent of 3,000 - 4,000 Euro seems to be the norm.
Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.
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Spain's 1,000€ may be the most restrictive, close to Romania's 5,000 lei.
I'm quite sure they are not enforcing it since i was traveling to and walking with across spain with much more.
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
The answer to this is very simple: none of your business.
I take strong issue with the word "need." Why do you need that car? That television? That four bedroom house? Why do you need that bow and arrow? For sport, you say? Why not play some ball game instead? Why do you need a chess set when you can play digitally online without killing a tree? Why do you need those fancy clothes? Why does your family need that Disney World vacation?
Let's limit your life choices to what someone else decides that you "need" and then ask if life is still worth living.
The fact is that freedom and liberty comes with it the ability to not have to explain or justify our life choices to others. Will bad people abuse it and do things you don't like? Yeah. That's the risk that comes with it and we have a legal system to identify and deal with those bad actors. A legal system that ought to exist to serve and promote liberty for the innocent, rather than eliminating it and destroying it for everyone out of fear and suspicion that some people might be up to no good some of the time.
So unless there is evidence of wrong-doing, it really is no one's business who they associate with, who they trade with, what they trade, how much they trade and why. And "need" has absolutely no relevance. "Because I want to" ought to be good enough.
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Send it via bank? A quick and free bank transfer which also works out as "receipt" of payment.
How fast are bank transfers over there? In the US we have "same day" for small amounts, and a multiple day long clearing for bank to bank personal transfers for larger amounts, ie what you'd pay for a car. Then you'd need a bunch of their banking info. I don't know about your experience, but I'd like to limit the amount of PII I give to the type of folks I buy used vehicles from. With cash, you both go on your way wi…
By the way, you're still allowed to use cash for private transactions, so you can still pay whatever amount of cash you want to a private party to buy an item.
[0] https://en.wikipedia.org/wiki/International_Bank_Account_Num...