551–560 of 802 posts
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You can easily spend 3k on a bike, motorcycle, car, a few hookers, high end restaurant with friends, and many other things. You're just regurgitating pro surveillance propaganda.
Of course people spend that regularly, but not with cash.
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I've owned seven vehicles in my lifetime. Five of them were paid for with cash transactions greater than $3,000. It's quite common for private sellers to prefer cash.
Maybe in the US. My bank has 27 offices left in the entire Netherlands, and I don't think many of them take cash. I wouldn't even know how to get 3000 euro in cash into my bank account these days.
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Similar laws in the US have readily morphed into we're going to hold it until you prove it's not from illegal sources. Googling it will provide many examples.
I don’t care about examples from the US. How is that relevant or at all related to this specific ban?
The way you read laws isn't how the enforcers need to read it. That isn't a US specific issue.
This is good for Bitcoin.
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I don’t care about examples from the US. How is that relevant or at all related to this specific ban?
> So you need to be convicted by a court and the government needs to be able prove the money was obtained from illegal sources? The way you read laws isn't how the enforcers need to read it. That isn't a US specific issue.
https://www.lexology.com/library/detail.aspx?g=1acd50be-5237...
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> Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineligible for a bank account under random (but common) circumstances. Not in the Netherlands. Any adult (18 or older) resident of the EU has the right to a bank account, by law. > an interesting loop you can get into is that you need to pay a utility bill in order to get a bank account, yet you can't pay a utility bil…
You need proof of address too, it's not enough to have just an ID. A passport is good, but you should also be aware that not everyone has a passport or drivers license. (for example: I didn't when I got my first bank account). My first bank account was a deal my mother made with the bank where she acted as guarantor. having a right to a thing is not the same as actually getting it; there is a lot of anti-fraud legisl…
Many banks (Santander, HSBC just two I checked) have entry points for people who are genuinely homeless. And accepted ID can include simple government things like council tax or a driver's license, but also just a letter from your employer or school. Again these are soft checks.
The very worth watching Milton Friedman PBS series about the merits of free markets was called “Freedom to Choose” for a good reason. For such markets to function you must be free to choose what you do to earn money and free to choose on what goods and services you wish to spend it on. Much of the series is arguing about what happens when governments attempt to control this dynamic leading to the exact opposite of th…
This system does not attempt to influence what you spend your money on, except when you're laundering money or want to use it buy illegal things. Not saying such systems don't also exist (e.g. food stamps, tax reliefs, different VAT regimes), but this is not it.
Can't read Dutch, but I'm pretty sure there is a version of "muh' terrorism!" in there.
mostly its "muh industrial scale illegal drug synthesis" Firstly its a fucktonne of cahs sloshing around being laundered, which has a bunch of nasty petty crime sideffects. but also the literal tonnes of toxic waste that keeps on popping up everywhere.
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> I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR? Privacy would be the biggest and most important reason and probably enough to end the conversation right here. But we can also include - ease of payment. Count out money and you're done. - vendor gets their money immediately, no 5 day hold like there could be on a check or money transfer -
Ease of payment? Paying with a card is much simpler and faster. Take your card, phone or watch and hold it to the terminal for one second and you're done. It's not normal for payouts to take 5 days. In Norway it's the next day.
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Every single country in the EU has VAT. If you’re yearly revenue is to low (not that likely for commercial farmers) you still have to give out receipts for every sale. Also have you heard about bookeping? It’s also a thing that has existed for thousands of years.
So a farmer is giving out receipts; how does that help the farmer at the bank? To sum up, what is the standard of records that the bank will accept? Is there one? does the bank say, "we see you wrote that you sold 20 boxes of produce on Saturday"
Buy yeah, some banks in the EU might be overzealous and small/medium businesses can often run into issues related to their idiotic fraud prevention systems. But I don’t see how is that an issue with the system itself and not with the implementation.