Replies (39)
They are going to war with
1. An immoveable force in bitcoin and;
2. The people of the country
Wild.
have all 4 taken the same stance ?
100%
You should leave as soon as you can.
Similar picture in the UK
Yes, ANZ announced they’re following from April 3 and they were the last Big 4 holdout
How the fuck is shit like this legal and why is it not challenged in the courts?
(I'm not even talking about Australia specifically, this sort of arbitrary shit happens everywhere).
The banks got together and decided to impose these rules after a nonsense report last year about scams in Aus. I read the report and linked it here at some point, they basically lied and used it as justification when the reality is “crypto scams” are tiny - they just relied on no-one bothering to check up on them and people not having enough resources to take them to court (Aus Big 4 Banks are all in the Top 10 largest companies in the country).
That’s how the system works - do shit and hide behind an army of lawyers such that if anyone is harmed it’s gonna take years and millions of dollars to get through the courts to overturn it because there’s zero punishment for them even if they do lose.
View quoted note →Yeah I mean two banks I use(d) in Spain suddenly stopped allowing me
to send money to a centralized exchange, after years of doing it.
When I called them to ask for an explanation they said it was to protect me from scams. To which I obviously replied with a bunch of expletives.
It's ironic, because they did in fact manage to protect me from scams, i.e. they prevented me from transacting through them anymore, and forced me to increase my use of P2P.
But as I mention in the other note, places like Bisq sometimes have too little liquidity, unreasonable offers, or simply no offers that match my verified payment methods. So I just suck it up and pay the credit card commission to buy on a centralized exchange.
Good! This is the greatest endorsement for Bitcoin! this will drive a cash market which is good for privacy. Also not that hard to do a bank wire!
RIP the no coiners. Exits are being locked down
Aleyküm selam 🫡
What are the limits for transfers in between individuals?
@npub1p2ps...3m82 (maybe) fixes this 🤖⚡️
Capital controls suck.
Aussies NGMI
Sounds like it’s time to sell $20,000 “art”. Free Bitcoin with each purchase.
In theory there aren’t restrictions on P2P transfers, I’ve not seen Bisq/RS be able to handle that kind of volume tho
Lock the doors, they said
One thing I’m sure of is this will open up new approaches. Maybe your art idea, possibly Aus gets its own Kimchi Premium, but I bet some scammers will try something too to fill the void.
The irony of the banks protecting people from scams only to make scams proliferate 🤦♂️
Closing off on-ramps is high impact low friction and Aus have done it before the real stampede. This is the early stages of “then they fight you”.
Interestingly, Revolut Australia doesn't seem to have any explicitly defined limit, but says they'll alert you if you reach some arbitrary limit.
Also, weird verbiage of "electronic money denominated in AUD" used repeatedly. First time I think I've read the fiat you might hold in your account labeled as "electronic money".
https://www.revolut.com/en-AU/legal/cryptocurrency-terms/You may be right. But $10K/mo is still averaging $330/day… which is one hell of a daily DCA 😂 even in AUSD that’s some committed capital
Yeah it’s hard enough in New York where the BitLicense makes it impossible to use anything meaningful. I think we have like 3 options to buy “legitimately”.
Yeah I wasn’t really thinking of plebs DCAing with this post, moreso people who wake up to what Bitcoin actually is and realise they want to move capital out of stocks/bonds/property into corn. You couldn’t even sell your car and buy corn under these rules.
Also in Aus we have superannuation which is like a 401K but we have an ability to put this into a self-managed fund where you can actually invest in self-custodied corn - that’s gonna be tough to move in volume too.
Common thread seems to be extremely leftist governments - they’re the most fervent at controlling capital and thus people and always do it under the guise of protecting people.
I know a guy who put his SMSF into KYC gold, and a decent interval later had a boating accident.
IDK how he didn't get audited...
Revolut doesn’t allow external transfers though so not much use
Oh for sure, their offering is purely "paper crypto" lol
A hundred years from now there’s going to be a whole bunch of treasure hunters who read early social media archives and send out expeditions looking for all the shit people lost in boating accidents 😂
Well the NY story proves that NYC is the fiat capital. The guy who pushed the Bitlicense then goes private sector and guides businesses on getting one “for a fee”.
But yeah. There is concentric rings of clowns managing this region.
That’s a very good point. Are there any services that offer an IRA (on paper) that actually serve up Bitcoin? Like swan in USA?
SWIM lost all his gold in the ocean?
1) the prospect of this is fucking hysterical
2) I’ve always been opposed to the idea of cryogenics but it might be worth it to stick around for those LOLs
Do we need to come to Australia and sell you guys some coins?
Australia is lame. Anything colonized by the British sucks these days.
Nah people in Australia are too invested in their Housing Ponzi to care about #Bitcoin
Australia NGMI…
This is why you don't trade or sell your #Bitcoin
There's no guarantee you'll get the same amount of fiat back in at the lows.
"Lucky country" is like the "American dream" these days.
maybe hodlhodl.com is an option 🤔
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