4 ms·
€1000 is an awfully low threshold.
by kergonath 5y ago
€1000 is an awfully low threshold.
- lnsru 5y agoThat’s normal monthly wage in lots of places in Europe. And maybe half of average salary in Germany. So the limit is absolutely reasonable.
- Mirioron 5y agoYes, and if they choose not to update the value in 30 years then it would be the same as ~€330 due to inflation. Doesn't sound reasonable to me.
- murgindrag 5y agoI think the idea is to set it high enough that not too many people will look, but low enough that after a few decades of inflation (or a few weeks of hyperinflation), it will cover most reasonable transactions, beyond buying a burger.
- kergonath 5y agoThere's a lot of stuff we buy every now and then between €1,000 and €2,000 (TV, computers, whatever). Not every month but still not something for which we should be scrutinised. Something around €10,000 would be better.
- alkonaut 5y agoIt's a reasonable one I think. Importantly, I make very few (0.1%?) transactions above that limit, so if only all my transactions above that are recorded, it doesn't let anyone paint a picture of my movement, habits and so on. Most of my transactions above that limit in the past years were recorded in (publicly available!) ledgers anyway: e.g. buying a car or house. Whether the limit should be €1k or €5k could be debated and you could reach different conclusions in different countries depending on whether that's the cost of an average bicycle or an average home.
- chopin 5y agoThe problem with these limits that they are not changed. When my father worked only a very tiny minority payed the maximum income tax rate (talking for Germany). Nowadays everybody in the upper middle income bracket does.
- alkonaut 5y agoYou could set the amount to a standardized inflation adjusted amount that just happens to be €1K today but would be automatically adjusted unless there is a political not to. Most every number that isn’t a percentage should be defined that way.