So, fun fact, in the USA state of Illinois , cannabis dispensaries are cash only. This is probably because cannabis is still illegal at the federal level. Of course, being such a potentially lucrative target for thieves, each dispensary has security personnel who will only grant admission after ID is shown.
Interestingly, every one I have seen has an ATM on site.
Cash payments above €3000 to be outlawed in Netherlands
601–610 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#602There 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.
I am curious about the status of legal tender in such regions.
If someone were to owe a business a debt above €5,000, does the fact that they legally cannot accept payment in cash mean that they could legally refuse all proffered forms of payment ("sorry, we don't accept X"), and get that person declared a bad debtor for failure to pay?
The incredibly important thing about legal tender in the form of cash is that, if it is refused as a means of payment, the debt is declared void. It effectively cannot be refused.
Re: Cash payments above €3000 to be outlawed in Netherlands
#603Earlier quoted context omitted.
Buying a Macbook Pro 16" M2 and a Samsung Odyssey Neo G9 at the same time from the same place.
And you clearly want to carry 3000+ EUR in your pocket than paying by card? Europe is safe, but I will definitely not walk around with that much cash on my person.
It's my choice, my money, and I want to keep my freedom to engage in legal business with my property without going through an intermediate party. This is an arbitrary restriction that gives way more power to the government than it provides safety for the individual.
Re: Cash payments above €3000 to be outlawed in Netherlands
#604Earlier quoted context omitted.
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…
> You need proof of address too, it's not enough to have just an ID. Yes, but you don’t need a bill for that, you can just get it from the municipality where you are registered. > A passport is good, but you should also be aware that not everyone has a passport or drivers license. Anyone age 14 and up is required by law to be able to show an ID when asked. So yeah, everyone here has an ID. > My first bank account was…
> Yes, but you don’t need a bill for that, you can just get it from the municipality where you are registered.
I don't know how it is in Sweden or in the Netherlands, but here in France, I needed a bill or some other "proof of address" to register to vote with the town hall. I had been living in the same apartment for years, and they never seemed to require any proof before sending me the papers asking for the local taxes.
Re: Cash payments above €3000 to be outlawed in Netherlands
#605Earlier quoted context omitted.
They can already do that by rationing meat, like they did in WW2. Require that you have the correct stamps for buying what you want. Or probably introduce some horrible mobile app for it. No need to outlaw cash for that.
While true, they couldn’t block private trading of the meat on the black market. They can with this
The drugs trade and sex trade will figure out alternatives within minutes of cash disappearing, and that'll enable other black markets.
Re: Cash payments above €3000 to be outlawed in Netherlands
#606So, fun fact, in the USA state of Illinois , cannabis dispensaries are cash only. This is probably because cannabis is still illegal at the federal level. Of course, being such a potentially lucrative target for thieves, each dispensary has security personnel who will only grant admission after ID is shown. Interestingly, every one I have seen has an ATM on site.
In MA, they'll take debit for a fairly small transaction fee. I don't think they did initially when they started opening up.
>Of course, being such a potentially lucrative target for thieves, each dispensary has security personnel who will only grant admission after ID is shown.
I assume the state law just doesn't allow anyone under 21 to be admitted.
Re: Cash payments above €3000 to be outlawed in Netherlands
#607Earlier quoted context omitted.
If you don't declare it, it's guaranteed to be confiscated until you prove a legitimate purpose for the > $10,000. Federal authorities generally have a higher standard of behavior than local or state police, although obviously not in every instance. If you try to cross the border with $500,000 declared, they may have some questions for you.
I was under the impression if you don’t declare it then there is no legal burden on the government to return it to you, whether you have a reasonable explanation or not. Whereas if you declare it and have a reasonable story/sufficient paperwork they can’t/shouldn’t take it. The point being that in cases where there is no funny business (at least in your opinion), you are strictly better off declaring it than taking y…
>Whereas if you declare it and have a reasonable story/sufficient paperwork they can’t/shouldn’t take it.
The law in the US is that, the police can take anything they want from you, with zero judicial process needed, slap it into their department's slush fund, buy whatever toys they want, or even as someone posted above, MAKE IT PART OF THEIR YEARLY BUDGET PROCESS TO "EXPECT" MILLIONS IN STOLEN MONEY, and unless you can AFFIRMATIVELY PROVE in a court of law that you obtained the property through zero criminal or near criminal activity, you will never get it back
Re: Cash payments above €3000 to be outlawed in Netherlands
#608I'm very much a fan of choice here. I haven't personally used cash more than twice in the last 3 years, I love the convenience of Apple/Google Pay, but cash clearly still needs to exist
Cash is weird because in theory it's a simple way to conduct a purchase but increasingly the coins become lost in the mix. I'm in the U.S., if someone hands me a few pennies/dimes as change they have effectively given me metallic trash for me to hold. I have a digital bank, so no way to deposit coins. I'm not going to carry coins around with me like I do whole bills. I'm essentially left with the option of taking the…
I haven't been to a Coinstar in ages even though I have a big bucket to cash in. (Basically on rare times I get coins I just toss them in when I get home.) As I recall, you can often get gift cards (e.g. Amazon) for the full value. I should look next time I'm in the grocery store.
Re: Cash payments above €3000 to be outlawed in Netherlands
#609Give it a decade or two of inflation, and that's cash effectively outlawed
Works with technology as well, the speed limits in your neighborhood were probably set when cars had drum brakes and poor visibility.
Nah, physics didn't change in the years since, and neither has human reaction time, both things that have a much more significant impact on road safety than modern rubber or brakes.
Re: Cash payments above €3000 to be outlawed in Netherlands
#610Earlier quoted context omitted.
> That's a separate problem that allowing overeager regulation of currency utilization enables. Now it seems like you are resorting to the libertarian fantasizing that used to be so common on news-for-nerds sites. > Note, I said hush money, not extortion. Threatening to go public with a story when the other party might feel compelled to pay hush money, is already viewed as extortion. > Few as litigious as the USA _so…
>> That's a separate problem that allowing overeager regulation of currency utilization enables. > Now it seems like you are resorting to the libertarian fantasizing that used to be so common on news-for-nerds sites. As I see no reason it is a fantasy, I'll continue "resorting" to the reality that, frankly, the entity able to put me to death legally probably doesn't need to know my reasons and justifications for ever…
> the entity able to put me to death legally
The country that is the subject of this HN post does not have the death penalty.
> That's a weird way to spell "banks and financial institutions."
’Cause I wasn’t spelling that. Within welfare states, public will to minimize tax evasion is widespread. In Europe steps are already being taken to improve transaction processing and democratize this area of the banking industry, so there isn’t necessarily the “gumming up” of the works and regulatory capture that you assume. If things don’t look so good in your country, I’m afraid that’s your problem to sort out.