This really made me laugh, man buys 1,680 BTC and his "taking money" out of the country 🤣 as if the Bitcoin ever existed in any country or originated in the country.
If the #Bitcoin you self-custody has been removed from the country, what country is it in then? Satoshistan?
https://businesstech.co.za/news/finance/862538/south-african-nailed-for-trying-to-move-r158-million-out-of-the-country/
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Replies (10)
Bitcoin is also bigger than my countries stock market the JSE (South Africa), but its still got a way to go, we have to leapfrog Silver, Apple and NVIDA
But how many of those addresses are individuals? I venture to say a million maybe less?
He was using exchanges, not self custody.
Bitcoin transcends borders, embodying true self-ownership.
Then I suppose theres a case for it, you're just buying and selling the entries of a local company, but then that's not exactly removing value from local markets either
Exactly, it can't exist in any border, its everywhere and nowhere
They're saying it out loud, you are the single point of failure, you are the value they want to extract, as long as you reside in their domain you're permitted to hold wealth.
Great advert for P2P though!
The companies were overseas and his government considered it a violation of their statutes. Not sure how he can really defend against that.
SHUM - should have used Monero
Also no KYC helps. This has been an expensive lesson.
Doubt Monero helps if you're using a KYC exchange and moving to another KYC exchange...
The no-kyc premium of 7 - 20% is looking awfully cheap when you see stories like this