51–60 of 83 posts
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> More than 90% of responding citizens spoke out against such a step. It was a web survey with fairly low numbers: 30,317 in total, which is very little for all of the EU.[1] And of course the results of this will be biased towards people who object to this. If there had been a meaningful number of respondents then it might be a signal of sorts, but as it stands with 28,784 people protesting this is completely meanin…
I'm Irish, usually pretty clued in on things. But had no idea this was actually being put through. (I suspected it would be eventually) I would definitely be objecting.
And it also means I can't really trust this person, because if he's misrepresenting this, then what else is he misrepresenting? ---
For what it's worth, personally I don't really object to reasonably limits but feel this should be up to the member states and not the EU, so I would object to this EU law. Ireland already has the requirement for a check for cash payments over €10k for example. That seems fine to me.
When it comes to laws details matter, as the recent Irish referenda showed. Not many people really objected to the general idea of the thing, but they did against the specifics. The specifics for what makes sense can differ per member state, and opinions differ quite a lot by member state as well. What makes sense in Germany may not make sense in Bulgaria.
> More than 90% of responding citizens spoke out against such a step. It was a web survey with fairly low numbers: 30,317 in total, which is very little for all of the EU.[1] And of course the results of this will be biased towards people who object to this. If there had been a meaningful number of respondents then it might be a signal of sorts, but as it stands with 28,784 people protesting this is completely meanin…
The cash limit now is like 5k euros. It sucks but the new cap is outrageous.
I'm a big fan of anonymous payments as a component of a resilient democracy, but to me, there's an amount cap where the tradeoff starts getting skewed from that to facilitating money laundering, tax evasion and other bad things. I can imagine dozens of good use cases for If there's real demand for it, I think we should come up with a technical solution that e.g. provides one-sided privacy like GNU Taler (taxation usu…
AML is a very convinient tool for anyone who wants to abuse power.
India: India throws another opposition leader in jail as elections loom https://www.economist.com/asia/2024/03/22/india-throws-anoth... from The Economist
Hungary: https://www.bbc.com/news/world-europe-53093117
Plus Russia
Plus various African countries
Etc.
Like frogs boiling in water.
You own nothing and you will be happy.
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Earlier quoted context omitted.
What if payment processors don't like what you want to sell, even when it is legal?
Tough luck. Doesn’t justify a huge avenue of money laundering of whatever is possible
If every government guaranteed an online payment system that 100% worked for all legal purposes, you'd have point. There's no such thing. The entire digital payment system is left to private feudal lords to control as they please.
Earlier quoted context omitted.
The thing is, limits like this are never, ever raised. 40 years ago Canada got rid of the $1000 and $500 note. In all that time, the idea of bringing the $500 back has never been floated. Yet soon, $100 will be worth $20 back then. I already find myself using $100s all the time, I used to fill my car for $25 in the 80s, now it's $80. Groceries are the same, I used to buy $30 per week, now it's over $100. As time prog…
I carried wads of cash when I lived in Indonesia, because card acceptance is so unreliable it's easier to just pay by cash. Bills of 100,000 (~€6.50) are the largest, and while prices are lower than in Europe or Canada, they're not necessarily that much lower for a lot of things. It's a bit awkward, but doable I guess shrug . I paid 6 million in cash for my scooter, and you can imagine what that looked like. Upshot i…
I friend lent me $2000 back in the day, so I went to the bank, and got 400 $5 bills. It actually felt empowering, and my friend even had a great time of it.
Yet it wasn't $6M, which just feels like a big number... no matter what the currency.
> Anonymous cash payments over €3,000 will be banned in commercial transactions. Cash payments over €10,000 will even be completely banned in business transactions. And anonymous payments in cryptocurrencies to wallets operated by providers (hosted wallets) will be prohibited even for minimum amounts without a threshold. For the regular person, there is no issue here. Cash is still fine, anonymous payments are possib…
What if payment processors don't like what you want to sell, even when it is legal?