Australia Bans Cash for All Purchases Over $7,500 (Jul 2019)(gizmodo.com)
gizmodo.com
Australia Bans Cash for All Purchases Over $7,500 (Jul 2019)
https://gizmodo.com/australia-bans-cash-for-all-purchases-over-7-500-start-1825946888
10 comments
The war on cash marches on. The limit will get lower and lower and eventually individuals will have no right to trade or enter into transactions as individuals. You'll always have to use a third party institution to pay for things. Paying yourself will be a crime and transactions will be at their whim. All economic activity will be surveilled and stored.
Original post on this topic: https://news.ycombinator.com/item?id=17043340
Thus encouraging the black market economy to transition to cryptocurrency even faster.
They have similar limits in Europe already. Is this also the case in the US?
Technically in the US any transaction over $10,000 is supposed to be reported to the IRS (https://www.irs.gov/pub/irs-pdf/f8300.pdf), but I'm not sure how strict enforcement is on that.
During FDR's presidency, they confiscated all the gold (forced you to sell it at a fixed price to the US gov't) and required an IRS agent to be present when safety deposit boxes were opened. They also imposed price controls, imprisoning people who charged too much or too little for goods and services. There was a lot of bartering going on.
it is not.
so... use bitcoins!