[2019-12-18] Why Bitcoin Adoption May Spike if Australia’s Proposed “Cash Ban” A

[audaciousbeing]

People could be jailed for two years and fined $25,200 just for using more than $10,000 in cash in one transaction under a new bill being considered by the Australian Parliament; if passed, the bill is likely to drive citizens away from traditional financial institutions and towards decentralized cryptocurrencies like Bitcoin.
https://mobile.abc.net.au/news/2020-01-13/proposed-cash-ban-is-not-about-controlling-your-money-says-rba/11858104
https://www.newsbtc.com/2020/01/13/bitcoin-adoption-likely-spike-australias-proposed-cash-ban-comes-into-effect/

There is no point getting ahead of ourselves. All over the world there is a tight noose around the use of cash for transactions and in some other places, equivalent of $10000 is even too much cash to use to carry out a transaction at the moment. Except one is engaged in one form of transaction and scared of being tracked or traced, that is when carrying such amount of money at once becomes a necessity. I don't think it would cause any spike in the price of bitcoin and even if it did, it would be so minimal to attach importance to as to Australia policy.

[malevolent]

We're far worse here in Europe compared to that, it comes at around 6000 euros.

In the EU the limit for cash transactions without having to file extra paperwork where at least one party is a business is set at 15k EUR. Quite a few countries have lower limits but it's not everywhere.

Seriously, who deas every day in cahs with more than 6000 euros?

Used car dealers, money exchange offices, some wholesalers who have customers paying in cash, and many more.

[cr1776]

...
Seriously, who deas every day in cahs with more than 6000 euros?
...

The real question is not who does it, but why is it anyone else's business who does?  :-)  What gives one group the right to specify how you can live your life and who and how you deal with other people?  The anonymity of being able to use cash (vs more trackable payments) is an important component of liberty.  Just as the ability to publish an opinion anonymously is.  Hopefully more anonymity will come to fruition in bitcoin over time.
 

[hv_]

BSV will do the job

Aussie Man Bad