4 ms·
I don't think it is so simple. There is already a EUR 10k limit on the amount of cash that you can carry across EU border without declaring it. In case of viola
by kavalg 4y ago
I don't think it is so simple. There is already a EUR 10k limit on the amount of cash that you can carry across EU border without declaring it. In case of violations the money may be confiscated. I would assume that the same would apply for gold above some reasonable value (e.g. a really big gold necklace :) ).
- Symbiote 4y agoSo the use case is evading tax, money laundering etc. Glad we got to the point eventually.
- aaronwalker 4y ago> evading tax, money laundering etc. And evading oppressive governments. Disobeying the law is not always a "bad" thing.
- int_19h 4y agoYes, absolutely. Also evading sanctions, buying prohibited goods etc. To remind, most people in the world live in countries with oppressive governments.
- zirgs 4y agoOK and why would you choose not to declare it? I think you meant external borders, because there are no border checks between Schengen area countries.
- aaronwalker 4y ago> * I would assume that the same would apply for gold above some reasonable value (e.g. a really big gold necklace :) ).* Whereas with Bitcoin, it is much more difficult to confiscate it because it's purely information. You might be trusting the manufacturer of a hard wallet to protect the privacy of your seed phrase, but once you memorize it no one can forcibly take it from you.
- int_19h 4y agoThat is exactly the practical case for BTC, yes. But note that this is about moving money from point A to point B, not storing it.