If it is the equivalent worth, then they certainly do have the power to stop you from bringing it into the country if you don't have a reasonable story for having it in your possession.
That said, I don't think 'Bitpay guy'is a victim of anything other than his own realization that the coin would be worth more than the threshold, thinking that would be lulzy to write about, and using instagram to do so. Wake me when somebody actually gets pulled aside by a customs officer for carrying a bitcoin safe/paper wallet/whatever.
Topic: 2013-11-17 Casascius coin is no longer allowed through customs without declaring (Read 932 times)
November 17, 2013, 10:55:26 AM
November 17, 2013, 10:37:41 AM
Casascius usually sends them without Bitcoins, the Bitcoins are sent later.
So, no they aren't worth $10.000 when crossing the boarder.
(Also the Bitcoins are never on the coins in the first place, Bitcoins are always in the blockchain)
So, no they aren't worth $10.000 when crossing the boarder.
(Also the Bitcoins are never on the coins in the first place, Bitcoins are always in the blockchain)
This bitcoin was minted in 2011 and it probably does have 25 btc.
But customs cannot stop it unless the coin is made of gold or they have certain legal document requiring declaration of bitcoins.
I guess Bitpay guy is just a victim of stupid mistake made by customs officer.
November 17, 2013, 10:25:48 AM
That casascius coin is akin to a key to a safe, not the actual gold in the safe.
November 17, 2013, 06:57:27 AM
Casascius usually sends them without Bitcoins, the Bitcoins are sent later.
So, no they aren't worth $10.000 when crossing the boarder.
(Also the Bitcoins are never on the coins in the first place, Bitcoins are always in the blockchain)
So, no they aren't worth $10.000 when crossing the boarder.
(Also the Bitcoins are never on the coins in the first place, Bitcoins are always in the blockchain)
November 17, 2013, 05:44:11 AM
only 2% of trade happens in trhe US...
time to move outside.
https://bitcointalksearch.org/topic/2013-11-17-coindesk-us-has-already-ceded-dominance-in-bitcoin-trading-336369
time to move outside.
https://bitcointalksearch.org/topic/2013-11-17-coindesk-us-has-already-ceded-dominance-in-bitcoin-trading-336369
November 17, 2013, 05:22:41 AM
Since when is Bitcoin considered cash. Unless reported by someone with authority I am calling BS.
November 17, 2013, 05:20:36 AM
That's because it is worth $10,000, not because it is 25 bitcoins.
10k is the declaration threshold for cash (foreign or domestic currency).
November 17, 2013, 05:16:38 AM
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