Bitcoin and Crypto Thread

cryptonews.com.au

New Zealand Cracks Down on Cash Crime with Crypto ATM Ban and $5K Transfer Cap

New AML rules in NZ will ban crypto ATMs and cap overseas cash transfers at NZ$5,000 to curb money laundering, says Associate Justice Minister Nicole McKee.
cryptonews.com.au cryptonews.com.au

from the article:

  • New Zealand will ban crypto ATMs to close a major loophole for money laundering and terrorist financing, says Associate Justice Minister Nicole McKee.
  • The new AML overhaul also caps international cash transfers at NZ$5,000, aiming to make it harder for criminals to move cash into crypto.

So what if you live in New Zealand and want to Western Union one of your relatives or friends overseas $6000 in cash? Too bad.

This is why you need Bitcoin so you can be self sovereign. Fiat is poison. Fiat is slave money. You have no control over your money with fiat. If you own Bitcoin you can send an unlimited amount of money to somebody on the other side of the world for low transaction fees.
 
Australia Sucks said:
cryptonews.com.au

New Zealand Cracks Down on Cash Crime with Crypto ATM Ban and $5K Transfer Cap

New AML rules in NZ will ban crypto ATMs and cap overseas cash transfers at NZ$5,000 to curb money laundering, says Associate Justice Minister Nicole McKee.
cryptonews.com.au cryptonews.com.au

from the article:

  • New Zealand will ban crypto ATMs to close a major loophole for money laundering and terrorist financing, says Associate Justice Minister Nicole McKee.
  • The new AML overhaul also caps international cash transfers at NZ$5,000, aiming to make it harder for criminals to move cash into crypto.

So what if you live in New Zealand and want to Western Union one of your relatives or friends overseas $6000 in cash? Too bad.

This is why you need Bitcoin so you can be self sovereign. Fiat is poison. Fiat is slave money. You have no control over your money with fiat. If you own Bitcoin you can send an unlimited amount of money to somebody on the other side of the world for low transaction fees.
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But but ... there is no use case. No "intrinsic" value. Why would anyone want such a technology/protocol?

:LOL:
 
Australia Sucks said:
This is why you need Bitcoin...
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Nobody needs bitcoin as evidenced by the 8.1 billion humans who have none.
Australia Sucks said:
Fiat is poison...
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No, quite the opposite, fiat has been around since atleast the 10th Century and gave birth to every modern convenience you enjoy (including bitcoin). It has a proven track record that cannot be argued with, "but nonetheless she persisted."
Australia Sucks said:
Fiat is slave money. You have no control over your money with fiat.
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Not true, I only use fiat and 2025 is shaping up to be the "freest" most fiscally prosperous year of my lifetime. As of today, 7/10/25, cash is King, so please stick with the facts. Anybody can say anything about the future. But as of today nobody uses bitcoin, nobody wants bitcoin, nobody needs bitcoin, it's a gambling device that gives men a temporary dopamine rush when they're up and makes them miserable when they're down. Same jew game, same jew problem(s). There is nothing special about bitcoin because bitcoin is money and money is the root of all evil. In addition, money can't buy you happiness (or love) because the best things in life are free.
 
PurpleUrkel said:
Nobody needs bitcoin as evidenced by the 8.1 billion humans who have none.

No, quite the opposite, fiat has been around since atleast the 10th Century and gave birth to every modern convenience you enjoy (including bitcoin). It has a proven track record that cannot be argued with, "but nonetheless she persisted."

Not true, I only use fiat and 2025 is shaping up to be the "freest" most fiscally prosperous year of my lifetime. As of today, 7/10/25, cash is King, so please stick with the facts. Anybody can say anything about the future. But as of today nobody uses bitcoin, nobody wants bitcoin, nobody needs bitcoin, it's a gambling device that gives men a temporary dopamine rush when they're up and makes them miserable when they're down. Same jew game, same jew problem(s). There is nothing special about bitcoin because bitcoin is money and money is the root of all evil. In addition, money can't buy you happiness (or love) because the best things in life are free.
Click to expand...
 
Australia Sucks said:
The other point that Scorpion won't acknowledge is how overvalued traditional assets like real estate and stocks have become because so much of the price is monetary premium due to the fiat system. People are just parking their money passively into stocks and real estate to avoid owning depreciating fiat, they aren't really looking too much at valuations (price to earnings ratios, net rental yields, etc). Yet another utility of Bitcoin that we have already discussed is Bitcoin replaces fiat housing will become a lot more affordable because rich people will stop buying ten rental houses just to park their money and protect their money from depreciation. If they buy stocks or real estate it will be because the returns are attractive not as a default option for parking money. This is why rental yields on properties are so low nowadays and price to earnings ratios on stocks are so high. As Michael Saylor pointed out a lot of the monetary premium from stocks, bonds and real estate will be sucked up by Bitcoin.
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Does bitcoin have a monetary premium?
 
Bitcoin was supposed to be a medium of exchange, but has failed because it is “only being used as a store of value.”

This is a false dichotomy.

Store of value is an exchange - an exchange of value from your present self, to your future self. Time and space are just different dimensions of the same universe. Transfers across time and across space are equally important, and bitcoin does both extremely well.
 
PurpleUrkel said:
Nobody needs bitcoin as evidenced by the 8.1 billion humans who have none.

No, quite the opposite, fiat has been around since atleast the 10th Century and gave birth to every modern convenience you enjoy (including bitcoin). It has a proven track record that cannot be argued with, "but nonetheless she persisted."

Not true, I only use fiat and 2025 is shaping up to be the "freest" most fiscally prosperous year of my lifetime. As of today, 7/10/25, cash is King, so please stick with the facts. Anybody can say anything about the future. But as of today nobody uses bitcoin, nobody wants bitcoin, nobody needs bitcoin, it's a gambling device that gives men a temporary dopamine rush when they're up and makes them miserable when they're down. Same jew game, same jew problem(s). There is nothing special about bitcoin because bitcoin is money and money is the root of all evil. In addition, money can't buy you happiness (or love) because the best things in life are free.
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“Money is the root of all evil”. Unfortunately that is the most misquoted verse in all of scripture. The LOVE of money is the root of all evil.
 
Gazza said:
I was simply trying to help you out with an incorrect biblical term that could prevent you and others from using it in all manners of situations, that’s all.
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You were trying to help me? I don't believe you. What you were actually doing was disingenuously splitting hairs. You know what I mean/meant.

Northern Pilgrim said:
I don't have a horse in this bitcoin race...
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... And then goes on to contradict himself...

Northern Pilgrim said:
... but you haters/anti-crypto guys are really clogging up this thread.
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You are framing it from a pro-bitcoin perspective which is the very definition of having a horse in this race.

Clogging up the thread? Hating on bitcoin? That is not what is happening here. There are less than 3 pages of BTC criticisms in a thread consisting of 147 pages. And the criticisms are not "hate," they are counter arguments to a cultish doctrine that is trying to persuade the masses that without BTC life is not worth living because the US dollar is worthless. Which of course are lies. Not to mention that there is a continued reference to holders of fiat being slaves and holders of bitcoin being "free." More lies. Bitcoin is so cumbersome and difficult to use that it becomes a digital ball and chain requiring massive amounts of time and energy to understand with constantly shifting goal posts of how to safely store it, purchase it, and extract it, thus requiring these 147 pages of JQ financial psycobabble to help users cope. The cash in my pocket is valuable now, accepted everywhere, requires no "understanding" or "study" and is easy to use. And this is why 8.1 billion humans around the world accept the US dollar as payment and only 100 million humans accept bitcoin. The numbers don't lie.

Bitcoin seems to be most loved by men who like video games, gambling, and dooming out on "muh, the future." Sane men deal in the here and now where the US dollar is the irrefutable King.
 
PurpleUrkel said:
You were trying to help me? I don't believe you. What you were actually doing was disingenuously splitting hairs. You know what I mean/meant.


... And then goes on to contradict himself...


You are framing it from a pro-bitcoin perspective which is the very definition of having a horse in this race.

Clogging up the thread? Hating on bitcoin? That is not what is happening here. There are less than 3 pages of BTC criticisms in a thread consisting of 147 pages. And the criticisms are not "hate," they are counter arguments to a cultish doctrine that is trying to persuade the masses that without BTC life is not worth living because the US dollar is worthless. Which of course are lies. Not to mention that there is a continued reference to holders of fiat being slaves and holders of bitcoin being "free." More lies. Bitcoin is so cumbersome and difficult to use that it becomes a digital ball and chain requiring massive amounts of time and energy to understand with constantly shifting goal posts of how to safely store it, purchase it, and extract it, thus requiring these 147 pages of JQ financial psycobabble to help users cope. The cash in my pocket is valuable now, accepted everywhere, requires no "understanding" or "study" and is easy to use. And this is why 8.1 billion humans around the world accept the US dollar as payment and only 100 million humans accept bitcoin. The numbers don't lie.

Bitcoin seems to be most loved by men who like video games, gambling, and dooming out on "muh, the future." Sane men deal in the here and now where the US dollar is the irrefutable King.
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You don’t know my heart or my thoughts, so how about you shove your over opinionated head up your arse you know all prick.
 
Having money does not mean that someone loves it. Having money means that you have been more generous with your time and efforts with others, than with yourself.

When the King, central bank, or fractional reserve bank, or alt-coin grifter, can create money without first giving time and effort to someone else, that is when things about money get distorted.

Everyone in this thread earned money by giving more than they take - that is how it should work - and it is my belief that bitcoin will make that the norm, rather than the ideal.

Wealth doesn’t make one a Scrooge, Epstein client, or Bill Gates jabber - wealth only accentuates the qualities that you already have. If you are generous, you can be more generous. If you are a megalomaniac psychopath that hates civilization, you become Soros.
 
PurpleUrkel said:
The cash in my pocket is valuable now, accepted everywhere, requires no "understanding" or "study" and is easy to use.
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Except the problem with physical cash is its not easy to transport in large quantities. If you need move overseas try and shove $1 million dollars in your suitcase and see if they do not notice in the airport. Nor is it convenient. How can you send cash to your relatives, friends etc overseas without paying exorbitant fees to a middle man company like western union or paying bank wire fees. And even then there are so many KYC and anti money laundering regulations you will be asked a bunch of questions and they will be monitoring your transactions.

Also if you need to withdraw large sums of cash from a bank expect to jump through a bunch of hoops and same thing to deposit a large sum of cash into a bank account. Same to do large purchases in cash. Try and buy a brand new car from a car yard in cash and see how it goes. Cash is controlled tightly by the government.

All that isn't even getting into the biggest flaw of cash is that its purchasing power constantly diminishes so you keep having to invest the excess cash in other things (gold, real estate, stocks, etc) just to maintain your purchasing power.
 
chance vought said:
alt-coin grifter, can create money
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I don't really see alt coins as money. Most of them are scams and a few are venture capital projects that potentially have other utility. For example billions of real world assets have already been tokenized onto Solana. And very soon stocks will be tokenized onto Solana. If you can buy or sell Apple stock 24/7 instead of only the limited hours in which stock markets are open that is a big improvement. As is faster settlement times. If you can buy shares in Apple and receive your shares 2 or 3 seconds after paying for them instead of 2 - 3 days after paying for your shares that is a big improvement. Bitcoin won the race as money and a store of value but I still think over the next 10 years in the crypto ecosystem a handful of tokens will emerge that genuinely provide a useful service.
 
Australia Sucks said:
I don't really see alt coins as money. Most of them are scams and a few are venture capital projects that potentially have
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agreed, but the creators like Charles Hoskinson are printing fiat tokens and getting money for themselves - providing no value in return: it may be useless but its the same mechanism governments and banks use.



if fiat money, schools, and governments didnt have their people so confused on what money is, the alt-coin grift wouldnt be possible
 
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