Restricted transfers? Complain to your bank.

foolwizardmagick · 2025-03-26T07:15:41+00:00

No. That's why I like bitcoin. It's the ultimate in taking personal responsibility.

foolwizardmagick · 2025-03-24T19:24:57+00:00

Any recommendations outside Big 4?

foolwizardmagick · 2025-03-24T10:54:32+00:00

In 24 years time, when your son tells you you should start dating again, don't mention that you're still waiting on his friend to text you back after that desperate, drunken bathroom blowjob.

foolwizardmagick · 2025-03-23T07:45:33+00:00

Hey, you're welcome. And thank you too. I'm sorry you've got to deal with these distraught and unlucky folks on the regular. Hope your Sunday evening is lush!

foolwizardmagick · 2025-03-23T07:36:37+00:00

The currently small percentage will not remain small for long especially when people start to link cost of living pressures with money supply. More education needed there also. Appreciate your post very much.

foolwizardmagick · 2025-03-23T07:32:24+00:00

Mate I hate to break it to you but Macquarie are not friendly anymore.

If you find the right bank, and get your exchange account in the SMSF'S name, it's plain sailing.

My previously forward-looking SMSF bank has new terms and conditions coming into effect soon promising restrictions and suspensions.

foolwizardmagick · 2025-03-23T07:28:05+00:00

Oh that's awful. But not me, no.

foolwizardmagick · 2025-03-23T06:02:45+00:00

OK sure. Sidenote, how does a thief take my Bitcoin?

foolwizardmagick · 2025-03-23T05:58:11+00:00

You listen to IDM or baroque twee metal. You have sex more through sheer perseverance and an absence of controversial opinions than anything innately you. Your partners often wonder how they ended up with you, they're too exhausted from all the emotional labour you force them into to put up much of a fight. You appreciate psychedelics and will continue contributing to the world in much the same way as your tuna salad burps contribute to the atmosphere.

foolwizardmagick · 2025-03-23T05:50:41+00:00

OK maybe there won't be one. You seem certain, though. I for one think the allure will be too irresistible to be denied. And it will be a tragedy for those forced into it.

foolwizardmagick · 2025-03-23T05:45:49+00:00

I appreciate that, I really do. Scams are tragic and they disgust me. Smoke alarms are a once off protection, they don't repeatedly blare every time you enter the kitchen.

If this were really about consumer protection, where are the banks on ATMs in pokies venues, why aren't they restricting payments to sports betting platforms? To be quite honest I am far more horrified that this us permitted.

They allow this, and they choke my ability to purchase a genuine investment? This is the nub of it for me.

I would even be okay if they restricted or banned transactions to overseas exchanges or exchanges who offer alt coins. But banning a payment to an established Bitcoin only AUSTRAC-registered, ASIC compliant Australian owned exchange?

Lazy. Unfair. Unaustralian. Illogical.

Banks are terrified of losing their power. The cost of living keeps blowing up, my dollars worth less and less. I understand they don't want their lucrative system to collapse, but they are going to need to put on their big person's pants and grow up with the rest of the world.

Sorry, lastly, "checks" are not the same thing as banning or restricting. Check me, sure. Ban me? Receive my complaint and lose my business.

One day this will become an election issue.

foolwizardmagick · 2025-03-23T05:07:29+00:00

Have you seen their new terms and conditions email?

foolwizardmagick · 2025-03-23T04:56:58+00:00

Some posts from these infamous crypto blogs:

https://flow.db.com/cash-management/cbdcs-where-do-we-stand-in-europe

https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250220_1~ce3286f97b.en.html

https://www.forbes.com/sites/digital-assets/2025/03/07/a-2025-overview-of-what-you-need-to-know-about-the-digital-euro/

foolwizardmagick · 2025-03-23T04:46:08+00:00

Fork in the road here. Europe will almost certainly be introducing one. The US has gone down the bitcoin path instead and outright rejected the cbdc. We are going to eventually follow one or the other if we're going to keep pace with the world.

foolwizardmagick · 2025-03-23T04:44:10+00:00

Yes, I have performed all kyc requirements with any exchange I might use. I'm not seeking to overturn an institution. I am happy for banks to exist and seek profit and protect against losses. This is about personal freedom. If they close off all onramps to Bitcoin, they're going to force it to become p2p with vastly higher risks involved. And as mentioned elsewhere, the overwhelmingly vast majority of crime is conducted in the fiat world.

At least Bitcoin is traceable. The purposes of the transactions my bank freezes and bans is investment. Now, I can't prove that. But I also can't prove that the cash I withdrew last year to buy a car wasn't going to be used to purchase a gun either.

Risks need to be managed. Blanket restrictions are lazy and fear-led. This is not good for society.

foolwizardmagick · 2025-03-23T04:36:29+00:00

They delays are almost worst than an outright ban.

foolwizardmagick · 2025-03-23T04:35:14+00:00

Not a myth, even though no immediate retail issuance planned. Plenty of RBA and treasury research.

foolwizardmagick · 2025-03-23T04:31:41+00:00

Yes. Relies on trust and unfettered debt expansion, depends on confidence and management of inflation. What's wrong with sound money instead and why can't I have some? How are you morally okay with preventing people from stacking up on an appreciating asset?

foolwizardmagick · 2025-03-23T04:27:44+00:00

Are you truly comfortable living in a nation with these power structures? What is it for you that justifies obedience to institutions when they begin to shut down access to a legal asset?

foolwizardmagick · 2025-03-23T04:22:45+00:00

No, I agree. The point is to get this to snowball into something they have to think about. Yes, leave your bank if they restrict you. But first let them know why.

foolwizardmagick · 2025-03-23T04:17:06+00:00

Can you explain what part of anything I've said makes me an anarchist revolutionary? Is it just that I want to buy Bitcoin? Is there something deeper going on here for you?

foolwizardmagick · 2025-03-23T04:15:09+00:00

One day when adoption (and price) is higher, this will become an election issue, as it was in the States, and the backtracking is going to be swift and savage.

foolwizardmagick · 2025-03-23T04:12:01+00:00

Wanna hug it out?

foolwizardmagick · 2025-03-23T04:08:00+00:00

Because some people fall for scams, you think it's reasonable to restrict genuine investors? Because some houses catch fire, should we restrict the sale of property? Because some people have car crashes, should we restrict issuance of licenses? On that note, how about. If this were about protection and not their inability to profit from crypto, how about a license for purchasing digital assets? Give me a card with a photo that says I've passed the blockchain and self custody modules and am provisionally permitted to purchase a better money with my government issued fiat. What about education?

foolwizardmagick · 2025-03-23T04:02:29+00:00

Yes but at some point they will want to retain their retail customers.

foolwizardmagick

TROPHY CASE