€500 bill goes under ban. | Bitcointalksearch.org

Vika NSFW

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Quote from: 1Referee on February 17, 2016, 04:37:27 AM

If you go to a super market and you buy stuff for like €8 and pay with a €100 bill, then of course they won't like it.

Wrong.
They will be happy to refill you with paper shit of €10 and €20.

Only bad placed shops with bad management have cash problems.

1Referee

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Quote from: 7788bitcoin on February 17, 2016, 02:53:13 AM

I went to Europe a while ago- Even €100 bills are difficult to use and money changer actually charged me €2 to exchange 100 into smaller notes...

It depends. For example; If you go to a super market and you buy stuff for like €8 and pay with a €100 bill, then of course they won't like it. If plenty of people do this, then they will soon run out of their lower valued bills. If you for example buy stuff for €70 and pay with a €100 bill, then it's not a problem at all.

I really don't mind seeing the €500 bill getting removed from the market as in 75% of the stores they don't accept €500 bills. If you want to spend it properly, you need to take your €500 bill to a bank and change it to smaller papers.

7788bitcoin

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I went to Europe a while ago- Even €100 bills are difficult to use and money changer actually charged me €2 to exchange 100 into smaller notes...

Meuh6879

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Some people don't have money detector to avoir fake bills ... Bitcoin is better for cash ... in discretion (bitmixer).

New century, human need evolve.

but be happy, cat always exist.

OROBTC

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Quote from: Denker on February 16, 2016, 03:45:48 PM

Quote from: Meuh6879 on February 16, 2016, 02:40:39 PM

500 euros are for Luxembourg Customers ... it's all.
Money landering only in this state (of eurozone).

That's not true.
The 500 euro bill is also very often in use in Germany.
The germans love to pay with cash.Especially for cars, kitchen, big purchases in general.
Back in the times of the Deutsche Mark there was the 1000DM note.
So big notes does not mean they only exist for shady businesses.

As if the ban of big notes every had stopped crime or money laundering. Roll Eyes

True. I have read that people in Germany buy used cars with the 500 euro bill.

Also true re crime... Anyone want to try to explain that crime existed EVERYWHERE?

The USA used to have $500, $1000 and even a $10,000 bills back in the 1930s and 1940s. They are still legal tender, but only collectors have them now.

Besides, a $1000 in the 1930s is worth LESS than $1000 now...

* * *

As Denker said, this is just part of the prelude to NIRP and the "War on Cash".

I am actually a little surprised that bitcointalkers are OK with the €500 ban. SOME people might like to THEIR spend money quietly...

Timelord2067

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Banks here in Australia are reluctant [1] to hand over $ 100 notes (our largest denomination) ATM's only dispense $ 50 notes or some building societies ATM's will only dispense $ 200 in 10 X $ 20 notes.

To fill a car's petrol tank costs about $60 - $75 so being able to slap a $ 100 note down and getting some change would be nice, but most people now are using their debit cards to pay for fuel. Some debit cards have a Pay and Wave feature where you just tap the card on the receiver. For transactions under $100 (ie to fill your car with petrol) there is no Pin number required.

In New Zealand it's an identical thing with the above (their fuel is about $ 2.20 per litre), except their Pay and Wave is limited to $ 80 (so less than to fill your tank with petrol) - but most petrol stations in NZ require you to pay for your fuel *before* you dispense it from the pump.

[1] Even if it is your own money...

Raimonn

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Quote from: Vika NSFW on February 16, 2016, 05:36:25 PM

Quote from: Raimonn on February 16, 2016, 05:34:00 PM

If European Union decide

LOL

BCE is not "EU".

Yes sorry, BCE is not European Union, its European Central Bank, but BCE will ask the european countries that joined the monetary unity (Eurozone) about banning the 500€ note before taking a decision.

Meuh6879

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EU is the BCE ... it's only a bunch of bankster at the end (with secretaries).
all law of the EU is created by the lobbyist only for industrial profit ... not by the people for the people.

Vika NSFW

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Quote from: Raimonn on February 16, 2016, 05:34:00 PM

If European Union decide

LOL

BCE is not "EU".

Raimonn

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If European Union decide to ban the 500€ notes (they will start soon to talk about if its necessary) , you will have a lot of time to change them for smaller ones. Only has a normal use in Germany, the other countries don't use to buy this big notes. The northern european countries use more the debit or credit cards to shop, and in Italy, France, Spain and Portugal you have limits about paying in cash.

Zeke2345

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Will these become worth anything down the road?
Seems a bit high to speculate but I would love to have a wall of big banned bills.

Maybe I should just stick to harrassing people for change at garage sales if my magnet picks anything up. Lips sealed

Vika NSFW

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Quote from: romero121 on February 16, 2016, 04:27:16 PM

Just for a single state customers its been banned is not fair.

Try to have €500 bills in GB. They are just banned there.

Racey

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Soon, I have to go away.

On the other side of the pond.

Banking boss said note has just a 'little role' in the 'legitimate economy'
Claims scrapping £50 would reduce the £34billion in tax dodged each year
Over £13billion VAT evaded yearly, mainly through cash-in-hand payments
Currently 236million £50 notes in circulation compared to 2billion £20 notes

Banks are urged to ban £50 notes in a bid to end the cash-in-hand culture

Stupid reason if someone wants a fifty note banned, you can surely be paid in two twentys and one single ten pound note.

Meuh6879

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Quote from: Denker on February 16, 2016, 03:45:48 PM

Quote from: Meuh6879 on February 16, 2016, 02:40:39 PM

500 euros are for Luxembourg Customers ... it's all.
Money landering only in this state (of eurozone).

That's not true.
The 500 euro bill is also very often in use in Germany.

OK, that's good ... Bitcoin can make traction, now ... with 2 countries that are for cash.

El Revolution, El Capitan !
Viva Bitcoin-a !

romero121

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It is not correct. Every nation under Europe has used it. Nearly 23 countries using it. Just for a single state customers its been banned is not fair. Only after a long time research only they might have come to this decision and not because of one state.

Vika NSFW

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Quote from: Denker on February 16, 2016, 03:45:48 PM

So big notes does not mean they only exist for shady businesses.

Put here Your reason for €500 ban from BCE.

Denker

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Quote from: Meuh6879 on February 16, 2016, 02:40:39 PM

500 euros are for Luxembourg Customers ... it's all.
Money landering only in this state (of eurozone).

That's not true.
The 500 euro bill is also very often in use in Germany.
The germans love to pay with cash.Especially for cars, kitchen, big purchases in general.
Back in the times of the Deutsche Mark there was the 1000DM note.
So big notes does not mean they only exist for shady businesses.

As if the ban of big notes every had stopped crime or money laundering. Roll Eyes

Vika NSFW

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Quote from: Denker on February 16, 2016, 03:38:31 PM

And after that they will ban the €200 note, then the €100 note.
Ridicolous!
The really big guys don't launder money with those bills.

they are very close to ban 200 and 100.

Just see the volume of $1.000.000. in €20 bills and in €500 bills

Denker

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Quote from: Amph on February 16, 2016, 01:40:37 PM

last time i had one of those was in 2007, i never seen one in my hand ever since then, this promote money laundering that's why they are removing it

And after that they will ban the €200 note, then the €100 note.
Ridicolous!
The really big guys don't launder money with those bills.
This is mostly done with the use banks shady offshore companies and faked contracts etc.
Everyone knows this.

What we see here are the first steps of a slowly starting process of trying to abolish cash.
Otherwise NIRP will not be very effective.

Vika NSFW

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Quote from: pedrog on February 16, 2016, 02:18:42 PM

Not going to miss them...

€500 bills are 30% of Euros volume.

Meuh6879

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500 euros are for Luxembourg Customers ... it's all.
Money landering only in this state (of eurozone).

mrflibblehat

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Haven't seen one. And I don't think I'll miss it either.

randy8777

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in all the years i have had only one €500 note in my hand and it wasn't mine. when i go to an atm the highest worthy note they give out is €50. i personally don't mind them getting rid of the €500 note.

pedrog

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I don't remember having one of those and have seen very few.

Not going to miss them...

Amph

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last time i had one of those was in 2007, i never seen one in my hand ever since then, this promote money laundering that's why they are removing it

Vika NSFW

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Possible US Dollar/Euro change this week after €500 bill ban by BCE

Topic: €500 bill goes under ban. (Read 1259 times)