Carlton Banks
Legendary
Offline
Activity: 3430
Merit: 3080
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 03:46:46 PM |
|
Zeroday since your from Cyprus and your account was robbed by Laike Bank I would like to hear your opinion on Neo @ Bee for Cypriots. Seems like an interesting development and a great place to start bitcoin adoption. Just some background info Neo offers Cypriot residents depository and financial services. Customers can open demand deposit, savings, business, and merchant accounts. Though all customer deposits are held in full reserve in Bitcoin, many customers will use Euro-pegged accounts, allowing them to interact with their money like they would with Euro deposits at any traditional bank. Accounts will also be available that offer full exposure to the Bitcoin price level. Regardless of which currency they bank in primarily, all customers can seamlessly deposit, withdraw, or transfer either Bitcoin or Euros. Neo simplifies Bitcoin usage, to enable simple, easy transfers without requiring understanding of the complex technology. Neo will comply with all applicable financial and banking laws and regulations. The Flagship Branch and second branch are both planned to open in February 2014. https://bitcointalk.org/index.php?topic=289730.0I've taken a look at this thread, and the bank is heavily dependent on the future success of the BTC exchange rate. They argue that a combination of new deposits into the bank re-directed at the BTC market, as well as their reserve funds, will all cover the risk, but it sounds like a gamble to me. Think carefully about this sort of model and the risks it carries.
|
Vires in numeris
|
|
|
zeroday (OP)
Donator
Hero Member
Offline
Activity: 784
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 06:08:52 PM |
|
Got some interesting news from my colleagues in Spain.
They confirmed that Spanish banks instructed to freeze any account which receives incoming transfer from Cyprus. Another European countries may have similar practice.
Looks like EURO hold in Cyprus is "tainted" and is not welcomed in many European countries.
|
|
|
|
cr1776
Legendary
Offline
Activity: 4130
Merit: 1307
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 06:19:02 PM |
|
Wow. So there are two (or more) types of Euros now. So much for a single currency! It seems difficult to believe that this can last over the long term, but perhaps because Cyprus is relatively smaller than say Germany, it can be done. Got some interesting news from my colleagues in Spain.
They confirmed that Spanish banks instructed to freeze any account which receives incoming transfer from Cyprus. Another European countries may have similar practice.
Looks like EURO hold in Cyprus is "tainted" and is not welcomed in many European countries.
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 09:08:15 PM |
|
Wow. So there are two (or more) types of Euros now. So much for a single currency! It seems difficult to believe that this can last over the long term, but perhaps because Cyprus is relatively smaller than say Germany, it can be done. Got some interesting news from my colleagues in Spain.
They confirmed that Spanish banks instructed to freeze any account which receives incoming transfer from Cyprus. Another European countries may have similar practice.
Looks like EURO hold in Cyprus is "tainted" and is not welcomed in many European countries.
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
|
|
|
|
ronimacarroni
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 10:23:40 PM |
|
The fight isn't between the left and the right, but the free and the ones who want to control and enslave them by hook or by crook. please refer to the diagram ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fblog.briangallimore.com%2Fwp-content%2Fuploads%2F2011%2F11%2FTheTruePoliticalSpectrum.jpg&t=665&c=luNbM39AuBN6GA)
|
|
|
|
zeroday (OP)
Donator
Hero Member
Offline
Activity: 784
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 10:24:23 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse).
|
|
|
|
cr1776
Legendary
Offline
Activity: 4130
Merit: 1307
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 11, 2013, 11:57:53 PM |
|
Hi, As long as we're asking, can people purchase things from overseas without running afoul of the capital controls? e.g. a new server, ASIC miner, 70 inch plasma TV, new car? I'm just curious how trade hasn't completely stopped given the capital controls. I'm sure everyone here feels for you. Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse).
|
|
|
|
freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2013, 05:22:05 AM Last edit: September 12, 2013, 05:37:46 AM by freedomno1 |
|
Zeroday since your from Cyprus and your account was robbed by Laike Bank I would like to hear your opinion on Neo @ Bee for Cypriots. Seems like an interesting development and a great place to start bitcoin adoption. Just some background info Neo offers Cypriot residents depository and financial services. Customers can open demand deposit, savings, business, and merchant accounts. Though all customer deposits are held in full reserve in Bitcoin, many customers will use Euro-pegged accounts, allowing them to interact with their money like they would with Euro deposits at any traditional bank. Accounts will also be available that offer full exposure to the Bitcoin price level. Regardless of which currency they bank in primarily, all customers can seamlessly deposit, withdraw, or transfer either Bitcoin or Euros. Neo simplifies Bitcoin usage, to enable simple, easy transfers without requiring understanding of the complex technology. Neo will comply with all applicable financial and banking laws and regulations. The Flagship Branch and second branch are both planned to open in February 2014. https://bitcointalk.org/index.php?topic=289730.0I've taken a look at this thread, and the bank is heavily dependent on the future success of the BTC exchange rate. They argue that a combination of new deposits into the bank re-directed at the BTC market, as well as their reserve funds, will all cover the risk, but it sounds like a gamble to me. Think carefully about this sort of model and the risks it carries. Thanks for the reply was looking to Zeroday but yours is nice as well ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Considering Zero has gotten out of the Cyprus fiasco altogether just wanted an honest opinion on it. That said you should post in the security thread we don't bite much XD ( except in labcoin where ponies rule )
|
Believing in Bitcoins and it's ability to change the world
|
|
|
zeroday (OP)
Donator
Hero Member
Offline
Activity: 784
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2013, 09:22:12 AM |
|
Hi, As long as we're asking, can people purchase things from overseas without running afoul of the capital controls? e.g. a new server, ASIC miner, 70 inch plasma TV, new car? I'm just curious how trade hasn't completely stopped given the capital controls.
Some extractions from Capital control "Decree": - The maximum amount of cash withdrawal shall not exceed €300 daily, per natural person or €500 daily per legal person... - €3.000 of cash per natural person can be taken abroad. It should be emphasised that the €3.000 should be withdrawn via the daily limit of €300. - The cashing of cheques is prohibited. - Cashless payment or transfer of deposits/funds to accounts held in other credit institutions within the Republic up to €15.000 per month per natural person. - Cashless payment or transfer of deposits/funds to accounts held in other credit institutions within the Republic for the purchase of goods and or services up to €300.000, per transaction - Allowed transfers of deposits/funds outside the Republic up to €5.000 per month, per person for each credit institution and or payment institution regardless of the purpose.
Here is full translation of Capital Control Decree: https://www.laiki.com/EN/TheBank/Documents/Decree19EN.pdfHere is FAQ and comments: http://www.centralbank.gov.cy/nqcontent.cfm?a_id=12583&lang=en
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2013, 10:23:57 AM |
|
Hi, As long as we're asking, can people purchase things from overseas without running afoul of the capital controls? e.g. a new server, ASIC miner, 70 inch plasma TV, new car? I'm just curious how trade hasn't completely stopped given the capital controls.
Some extractions from Capital control "Decree": - The maximum amount of cash withdrawal shall not exceed €300 daily, per natural person or €500 daily per legal person... - €3.000 of cash per natural person can be taken abroad. It should be emphasised that the €3.000 should be withdrawn via the daily limit of €300. - The cashing of cheques is prohibited. - Cashless payment or transfer of deposits/funds to accounts held in other credit institutions within the Republic up to €15.000 per month per natural person. - Cashless payment or transfer of deposits/funds to accounts held in other credit institutions within the Republic for the purchase of goods and or services up to €300.000, per transaction - Allowed transfers of deposits/funds outside the Republic up to €5.000 per month, per person for each credit institution and or payment institution regardless of the purpose.
Here is full translation of Capital Control Decree: https://www.laiki.com/EN/TheBank/Documents/Decree19EN.pdfHere is FAQ and comments: http://www.centralbank.gov.cy/nqcontent.cfm?a_id=12583&lang=enThis sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
|
|
|
|
zeroday (OP)
Donator
Hero Member
Offline
Activity: 784
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2013, 03:46:13 PM |
|
This sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
Exactly, there are many offers for you money to escape Cyprus banking jail for 10-15% But these offers does not work for amounts over 100k which were expropriated in March because that money are just lost.
|
|
|
|
LiteCoinGuy
Legendary
Offline
Activity: 1148
Merit: 1014
In Satoshi I Trust
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2013, 04:07:39 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse). sad. and others in europe will follow. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
|
|
|
|
BitAddict
Legendary
Offline
Activity: 1190
Merit: 1001
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 14, 2013, 02:38:26 PM |
|
This sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
Exactly, there are many offers for you money to escape Cyprus banking jail for 10-15% But these offers does not work for amounts over 100k which were expropriated in March because that money are just lost. wow there is getting ridiculous :/ I have no doubt in Spain we will follow soon... sad but true.
|
|
|
|
leopard2
Legendary
Offline
Activity: 1372
Merit: 1014
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 12:38:45 AM |
|
This sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
Exactly, there are many offers for you money to escape Cyprus banking jail for 10-15% But these offers does not work for amounts over 100k which were expropriated in March because that money are just lost. can you not buy gold from your bank or from a dealer in Cyprus, that would be an intra-country transfer?
|
Truth is the new hatespeech.
|
|
|
infested999
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 01:56:28 AM |
|
This sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
Exactly, there are many offers for you money to escape Cyprus banking jail for 10-15% But these offers does not work for amounts over 100k which were expropriated in March because that money are just lost. can you not buy gold from your bank or from a dealer in Cyprus, that would be an intra-country transfer? But you can't export gold.
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 02:22:20 PM |
|
This sounds like money smuggling can be a real business in Cyprus now. Some organized gang should offer to buy Cyprus cash for less then face value in either fiat currency abroad or Bitcoins (or goods) and smuggle everything out by boat. I doubt Cyprus is rich enough to do proper patrolling. To be sure, go with a lot of guys and be armed to the teeth (the Italian mafia is rather close).
Exactly, there are many offers for you money to escape Cyprus banking jail for 10-15% But these offers does not work for amounts over 100k which were expropriated in March because that money are just lost. can you not buy gold from your bank or from a dealer in Cyprus, that would be an intra-country transfer? But you can't export gold. It's called smuggling.
|
|
|
|
tinus42
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 05:32:42 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse). sad. and others in europe will follow. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) In Belgium cash payments above 3000 euro's are already forbidden.
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 06:28:31 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse). sad. and others in europe will follow. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) In Belgium cash payments above 3000 euro's are already forbidden. Brilliant. Let them make their Monopoly money even less appealing. They're playing right into our hands ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
BitAddict
Legendary
Offline
Activity: 1190
Merit: 1001
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 07:14:44 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse). sad. and others in europe will follow. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) In Belgium cash payments above 3000 euro's are already forbidden. In Spain is worse, you can pay only up to 2,500€
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 15, 2013, 07:15:59 PM |
|
Are the cash withdrawal limit waves already? If so, it's not that hard to get the cash out. If this is true I'd advise anyone to do this ....
Capital control is still enforced. ATM limits are the same. From personal account you cannot withdraw more than 300 EUR daily. 5000 EUR is maximum monthly allowance for transfers abroad. Business accounts can transfer more but every wire to be approved by bank (and they often refuse). sad. and others in europe will follow. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) In Belgium cash payments above 3000 euro's are already forbidden. In Spain is worse, you can pay only up to 2,500€ Can one not pay his taxes in cash?
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
|