Topic: My bank account's got robbed by European Commission. Over 700k is lost. - page 43. (Read 408474 times)

i will show this thread to anyone that expresses doubts that bitcoin is an important technology that can save YOUR ASS.

man, i run a business myself. what they did is i n c r e d i b l e.

in the news here they only talked about some 10 % "tax".


"bail in" is the new way to go. all kind of countries have put up new legislation to legalize "bail in"

tuur tells it all:

http://www.youtube.com/watch?v=K7LQu-eIOO0

lot's of love for bitcoiners

You should do something about that. Have you spoken to anybody responsible for it who can put it back?

I agree. Although Americans do like to settle a lot so may be there is some benefit to be had.

Technicall, yes, because silver coins (and silver/gold eagles) are considered legal currency. However, to the best of my knowledge, no one has tested out that particular strategy to see if it holds up in a federal court against the IRS. I think the IRS would definitely fight it, and mostly likely win, based on an argument that the car dealer was clearly accepting the coins for their intrinsic value instead of face value.

I know that not paying taxes on barter is not legal.  I'm sorry.  My post should have been clearer on that.  However, valuations can fluctuate with barter.  Is the chicken you are trading for a goat worth $1.50 or $3.75?  Or only 50 cents?

To see what I mean, Google "Eduardo Saverin defriends USA".

He moved to Singapore and then renounced US citizenship in the year prior to Facebook's IPO.  Because he could not yet sell his stocks on the open market, he got to choose a lower valuation than the IPO price of $38/share.  People went nuts because they couldn't see beyond his supposedly saving so many millions of dollars by giving the US the kiss-off.

Truth is, depending on his valuation back when he renounced he may have OVERPAID on his taxes even though everybody thought he was saving money.  And I haven't seen Facebook (NASDAQ:  FB) at $38/share since the day of the IPO, it tanked like a rock the first few days and weeks.  And when you renounce, you file one LAST tax return.  If you goof in your valuation you probably don't get to file a do-over in the form of an amendment. 

But that's Eddie Saverin.

Average Joe can choose his valuation in a barter, and as long as it's a reasonable one and he can justify it in case of an audit Joe will likely be fine.  Barter makes it a not-so-exact science.

Another interesting thing is, one can shop with junk silver and buy things for "way cheaper" because someone might prefer the pre-1965 silver quarters you have in your bag to paper bills or coins of today's US Mint and Federal Reserve.

If you buy a car and offer junk silver to the dealer, (s)he may just let you pay at a discount . . . based on the value of the silver content instead of the face value of the coins.  While it does not appear to be savings, when you go to register the car if the sales price is the face value of the coins it's a LOT lower than the silver value.  How does this help you?  If your vehicle registration fees are based on face value coin price, you pay less upon first registration and less every year thereafter.  Meanwhile the dealer who sold you the car can turn around and cash the junk silver in for the full value if (s)he desires . . . or keep it if (s)he thinks the value of silver will go up.

Accounts? Do you think it's more than 1? 

I did some research on setting up an account at the Bank of Cyprus, the bank that the good part of Laiki will supposedly be merged with. The least expensive option is 150 Euro a year in fees, plus 35 Euro shipping of the bank card, plus 200 Euro activation deposit. And, oh yeah, the daily withdrawal limit is still 300 Euro in cash, or 5000 charge.

These fees were last updated in June 2012, and apparently the banking crisis is not a good enough reason for them to change.

I wonder how many new accounts they've opened recently.

that is pretty shitty man. . . i feel u on this 1

Too bad for them that Bitcoin got invented then! LOL!

25% insurance, but I made my investors whole.

Sometimes it is better to do what is best for those who have put trust in you than to do what is strictly best for yourself.

If this concerned a normal (non-insured) passthrough you certainly went the extra mile. That was way more than you were morally obligated to do.

This makes me wish I had you as a pass through operator, would have saved me a lot of money

I ran a pirateat40 passthrough.  When pirate defaulted, I paid back every investor I had from my own pocket the day he closed withdrawals.  I ate the loss.

Do you still doubt my sincerity?

How does ripple lend the money to someone else? I see one chain of debt. Sure, its not on the level of Bitcoin, but it seems better than a bank. Closer to something like Dwolla.

Painful to read

Cyprus 101 for idiots

painful to read about...

Not to ripple bash but this design seems damn familiar

Well put. People have been having their forutnes wiped out in bank collapses for hundreds of years now. Many southern plantation owners had their bank accounts confiscated and also all had to free their slaves without compensation. In the 1920's we had banks get wiped out from investing in stock (which brough the first regulations seperating "investment banks" and "commercial banks"). Today we have the housing bubble and bad morgages killing off banks.

When a bank gets crushed, for whatever reason, your deposits get hit too. Most people don't get a cent back unless the government steps in and refunds a minimum amount out of taxpayer money. This is a rare instance where its that very same government who caused the problem in the first place. *To be fair its not just the governments fault here. This bank took on a lot of really bad debt it can't pay back*

That's not a change, that's the whole point of banks.

The model is:
1) You lend your money to the band, ie you trade your money for a debt.
2) They then lend the money to someone else. At that point its no longer the bank's money either.
3) Hopefully the someone else pays the debt back with money, and the bank can pay your debt back with money.
4) Failing that maybe some kind taxpayer will pay to make up the difference.
5) Failing that the people who lost your money hope you'll blame the whole thing on the European Commission.