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Cash payments above €3000 to be outlawed in Netherlands

rijksoverheid.nl

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Re: Cash payments above €3000 to be outlawed in Netherlands

#461

Post by cpursley »

ffhhttt wrote: post #397
motohagiography wrote: post #314

Earlier quoted context omitted.

- paying a team of day labour workers - hay / feed delivery - combine/equipment rental - equipment resale - livestock - farm vehicle sales / repair It's probably fine, and I hear you can eat bugs.

I’m pretty sure the 3000 limit is not at all a huge issue in any of those cases pretty much anywhere in Europe and bank transfers are also cheap and instant. Not that I agree with this ban. I really don’t but focusing on farmers specifically is very strange when farming is so heavily commercialized, especially in the Netherlands.

Farming is under attack all throughout the EU, especially the Netherlands.

Re: Cash payments above €3000 to be outlawed in Netherlands

#462

Post by pc86 »

bonzini wrote: post #360
dijit wrote: post #281

Earlier quoted context omitted.

You'll be downvoted, but to answer this question with all honesty: 1) Disallowing a third-party in every single transaction you make, especially as 1a) Inflation means 3k now might be quite low in 20 years 1b) Banks themselves have been shown to be scummy 1c) Banks are a rare institution to allow outsiders into. 2) Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineli…

> Cash is the only fiat currency that actually exists There's also money orders.

What do you think a money order is?

Re: Cash payments above €3000 to be outlawed in Netherlands

#463

Post by input_sh »

kxrm wrote: post #367
antihero wrote: post #243

Earlier quoted context omitted.

Why do you need cash for that?

So you are saying that in order to purchase these items you must have a bank account?

You wouldn't be able to receive a salary without a bank account.

Re: Cash payments above €3000 to be outlawed in Netherlands

#465

Post by _zamorano_ »

dangus wrote: post #268
SileNce5k wrote: post #88

Earlier quoted context omitted.

Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.

The libertarian-minded tend to think that this kind of freedom is necessary to prevent government overreach and oppression, but in reality the bulk of the people making large cash transactions are either avoiding taxes (ripping off you, the taxpayer) or participating in organized crime (human trafficking, weapons/drugs/counterfeit black markets, etc). I would also argue that the only people making cash transactions t…

Like taxes are fair... You have the freelancers and small business struggling badly in my country, yet the goverment spends millions on nonsensical programs.

Re: Cash payments above €3000 to be outlawed in Netherlands

#466

Post by LapsangGuzzler »

gspencley wrote: post #169
mdrzn wrote: post #53

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.

> Why would someone need to pay for 10k in cash? 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 f…

> 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.

The problem is that things like cryptocurrency are largely designed to circumvent the financial and legal system entirely, which becomes a threat to regulated markets once fraudulent actors become large enough to inevitably become a burden to the legal system (see FTX). The government is spending a lot of money cleaning up the FTX mess and they have an interest in ensuring that it doesn’t happen again.

Re: Cash payments above €3000 to be outlawed in Netherlands

#467

Post by throwaway9870 »

I don't like this. I recently sold some networking equipment to somebody for a bit more than this amount and asked for cash. Made the whole transaction simple. Things like this just keep taking power from the people and moving it into the government and private companies.

Re: Cash payments above €3000 to be outlawed in Netherlands

#468

Post by gunapologist99 »

ffhhttt wrote: post #443
gunapologist99 wrote: post #429

Earlier quoted context omitted.

No need to curse to make your point, especially since this is a burgeoning area of both criminal and civil law in western countries. https://en.wikipedia.org/wiki/Asset_forfeiture#European_Unio...

So you need to be convicted by a court and the government needs to be able prove the money was obtained from illegal sources? How is that unreasonable and more importantly what does it have to do with the €3000 limit discussed in this thread?

It can simply be seized.

Whether a conviction occurs in court is largely irrelevant, because it's in excess of the 3000 limit that this law actually puts in place, and therefore de jure illegal.

In the U.S., no conviction of the owner is even necessary, since the conviction is of the cash itself. This is likely coming to EU as well because it's a easy way for the enforcement state to increase its coffers and, in theory, stop money laundering.

Re: Cash payments above €3000 to be outlawed in Netherlands

#470

Post by jurynulifcation »

intotheabyss wrote: post #211
fullstop wrote: post #162

Earlier quoted context omitted.

Do you consider sending them to another person cashing them in? I'm referring to bob's stablecoin -> bob's fiat -> alice's payment, and suggesting that their goal is bob's stablecoin -> alice's stablecoin, and avoiding the stablecoin->fiat (cashing in) phase entirely.

I mean, yeah. If the entire world transacted in stablecoins, it would be a much much better UX.

It would probably be quite abysmal, considering the deflationary nature of most cryptocurrencies. Which stablecoin provider do you trust to secure your wealth at this point? After the downfall of FTX, Tether, Luna, Celsius, etc., who in the space can anyone trust? Which is the real sleight of hand of the entire "trustless" Crypto ecosystem...
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