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When was the last time you tried to move a million in cash? It's not that easy...
by maxqin1 5y ago
When was the last time you tried to move a million in cash? It's not that easy...
- Cthulhu_ 5y agoYup; in $100 bills it weighs 10 kilos already.
- sschueller 5y ago1 bundle of 1,000 CHF (1,112.51 USD) notes is 100,000 CHF which is only 1cm thick [1]. So 10 would be 10cm which easily fits in a small bag. [1] https://www.bielertagblatt.ch/nachrichten/wirtschaft/eine-million-schweizer-franken-passen-ins-kleinste-fach https://www.bielertagblatt.ch/nachrichten/wirtschaft/eine-mi...
- maxqin1 5y agoThanks for the tip!
- SideburnsOfDoom 5y agoBut you would not be able to collect the cash from a bank without all kinds of due diligence, or process alarms going off.
- sschueller 5y agoIn Switzerland it used to be quite easy as the money belongs to you and you can do with it what you want. The only issue should be depositing large sums. If the banks make it harder and harder to get your money out then of course things like bitcoin are getting more popular.
- SideburnsOfDoom 5y agoI can't actually speak for Switzerland, it does have a reputation for "no questions asked" banking. Meanwhile, in other parts of the world, "Know Your Customer", "Due Diligence" and other Anti-Money-Laundering measure are important. (1) I think your last point is better phrased as "If the banks make it harder and harder to get your money out in bulk, without proof that your transaction is legal; then of course things like bitcoin will be used for the illegal transactions. And as a result the regulators will sooner or later regulate those too". https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Due_diligence https://en.wikipedia.org/wiki/Due_diligence