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You're confusing something that's for sale freely with something that's not. Though maybe if you add a few more pounds... But more relevant to the parent's comm

You're confusing something that's for sale freely with something that's not. Though maybe if you add a few more pounds... But more relevant to the parent's comment; would your bank prevent your from trying to spend that pound?

Jochim 5y ago
Should your bank prevent you from spending that pound if the transaction is for something illicit? If your bank knows you've stolen that pound being used to purchase a legal good/service, should they allow you to spend it?
- Graffur 5y ago
  My bank is a place I store money when not using it.. so that it's not in my house or at risk of being stolen. The fact I use the bank as a utility to also spend that money is unfortunate. Thank God (Satoshi) for crypto so that I can spend my money without needing a bank to allow it.
  - null_object 5y ago
    Just a reminder: you don’t need satoshi to spend your money wherever you want. You can just withdraw it from your bank as cash first. Just think this freedom has existed for thousands of years without the need to burn up the planet with meaningless computations as a prerequisite.
    - hulahoof 5y ago
      In Australia they have moved to BSB cash transactions over $10K, with a stated goal of becoming a cashless society. I wouldn't be so sure this will always be an option.
    - Graffur 5y ago
      Since when can you withdraw cash and then spend it online? You can't. That is what Bitcoin solved.
      - robertlagrant 5y ago
        It didn't solve it. We could have anonymous payment intermediaries today if we wanted. We don't want them because of the massive amounts of money that would be laundered through them.
- d110af5ccf 5y ago
  The obvious answer here is that it's not up to the bank to enforce the law. They should not intentionally assist you in breaking the law, but neither should they go out of their way to discover or prevent it. How customers spend their money is none of the bank's business but if law enforcement shows up to investigate someone then they should cooperate.
  - throwaway210222 5y ago
    Meanwhile, those who have had the pleasure of begging for bank statements with the 'contra' entries [who the money came from/went to] that allow investigators to follow the money trail, have, almost to a man, concluded that they must be in on the crime.
    - d110af5ccf 5y ago
      To be fair, we may well need better enforcement of existing regulations. I still don't want my bank playing the role of law enforcement though.
iso1631 5y ago
There's all sorts of money laundering regulations and rules, especially when coming to buying a house, and definitely if it's under market value
robertlagrant 5y ago
> But more relevant to the parent's comment; would your bank prevent your from trying to spend that pound? Yes, because I stole it.

Jochim 5y ago

Should your bank prevent you from spending that pound if the transaction is for something illicit? If your bank knows you've stolen that pound being used to purchase a legal good/service, should they allow you to spend it?

Graffur 5y ago
My bank is a place I store money when not using it.. so that it's not in my house or at risk of being stolen. The fact I use the bank as a utility to also spend that money is unfortunate. Thank God (Satoshi) for crypto so that I can spend my money without needing a bank to allow it.
- null_object 5y ago
  Just a reminder: you don’t need satoshi to spend your money wherever you want. You can just withdraw it from your bank as cash first. Just think this freedom has existed for thousands of years without the need to burn up the planet with meaningless computations as a prerequisite.
  - hulahoof 5y ago
    In Australia they have moved to BSB cash transactions over $10K, with a stated goal of becoming a cashless society. I wouldn't be so sure this will always be an option.
  - Graffur 5y ago
    Since when can you withdraw cash and then spend it online? You can't. That is what Bitcoin solved.
    - robertlagrant 5y ago
      It didn't solve it. We could have anonymous payment intermediaries today if we wanted. We don't want them because of the massive amounts of money that would be laundered through them.
d110af5ccf 5y ago
The obvious answer here is that it's not up to the bank to enforce the law. They should not intentionally assist you in breaking the law, but neither should they go out of their way to discover or prevent it. How customers spend their money is none of the bank's business but if law enforcement shows up to investigate someone then they should cooperate.
- throwaway210222 5y ago
  Meanwhile, those who have had the pleasure of begging for bank statements with the 'contra' entries [who the money came from/went to] that allow investigators to follow the money trail, have, almost to a man, concluded that they must be in on the crime.
  - d110af5ccf 5y ago
    To be fair, we may well need better enforcement of existing regulations. I still don't want my bank playing the role of law enforcement though.

iso1631 5y ago

There's all sorts of money laundering regulations and rules, especially when coming to buying a house, and definitely if it's under market value

robertlagrant 5y ago

> But more relevant to the parent's comment; would your bank prevent your from trying to spend that pound? Yes, because I stole it.