So Italy is now anti-cash and pro-Bitcoin? - page 2.

malevolent

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Quote from: bitbollo on December 12, 2019, 01:05:11 AM

In Italy a lot of people doesn't have a bank account since they have also not "official money" (working without contract etc)...

A lot of merchants (like taxi driver) most of times REFUSE to accept a ride if you want pay with a card
since they don't give any real receipt or better they don't want paying taxes...

Italy has low cash transaction limits, what do they do if they have to pay for something over this limit? It's common almost everywhere in Europe for cash-heavy businesses to underreport their income, but not having a bank account at all is pretty rare.

Lottoshi

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The world is moving towards anti-cash, but it doesn’t equal to pro-Bitcoin, Bitcoin is still far from being daily money because of its fluctuation.

drachman

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Quote from: cheezcarls on December 11, 2019, 06:07:00 AM

The Italian Minister Council continues to wage its war on cash, with the latest ratification lowering the maximum allowed amount for cash payments. This could lead to the rise of Bitcoin in the country.

The current officials are cracking down on cash usage and have lowered the maximum threshold for cash payments from €3,000 to €2,000 starting 2020 and 1,000 Euros onward from 2022.

Click here for the full news

To all Italian crypto enthusiasts here, are you in favor with this or not?

It seems that the prime minister of Italy is now in favor of cashless payments than spending paper bills in various products and services.

I also like his idea that companies who are operating in Italy are penalized if they do not accept credit or debit card as mode of payments for their customers. One thing that Italy should solve is those who are “unbanked”. Of course, not all Italians have a bank account or qualified to have a credit card.

Enter Bitcoin and other cryptocurrencies. I think this is a baby step towards full cashless society, and I strongly believe that Bitcoin and other cryptocurrencies will also be part in their future system. What do you guys think about this?

Is this a great idea for Italy’s future? Should they be a great example to other countries who needs to transition from cash to cashless?

This is yet another sign of what governments and banks really want from you, they want to know every single thing that you do with your money and they are not going to stop until they do, fortunately for us bitcoin already exist and it has been in the market for more than 10 years and while we are still a minority I have no doubts that in the future people are going to realize the horrible system that has been put in place and they will eventually reject it.

LUCKMCFLY

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For some months it has been happening in Italy that many prefer to buy online with Bitcoin and not with Visa and Master Card credit cards, the mere fact of this type of operations was already affirming an adoption in the country and preference for technology and obviously for the fee.

It is not that it will be an anti-Fiat country and migrate everything to Bitcoin, because FIAT money is necessary, only that it has greater acceptance over bitcoin, compared to previous years it is a great achievement.

Eugenar

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Quote from: JeffBrad12 on December 12, 2019, 06:34:31 PM

Exactly, it's funny to see how wild people's interpretation could be and even talking about something that's not happening. Italy forcing people to use digital payment which i'm sure it's credit card issued by bank or some kind so that they could easily have a control over it and crypto is definitely not the thing they want.

The problem here is that, OP's post doesn't show the clear details on what particular digital payment is proposed, and I see, Government will not push cryptocurrency just because they don't like the cash or fiats that they have. Maybe they don't really like cryptocurrency at all. And why such a government will try to convince people to use or utilize technology that imposed risk to their greatest assets which are banks? None right, maybe we could straight things up here.

Ayiranorea

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This is step forward taken by Italian government, but in reality this can't be kept under control. Most of countries earlier has gone cashless, but those haven't made everything precise, even now cash usage is limitless. The initiative taken is good, and the outcome needs to be effective. This is possible out of perfect execution of the plan. This will give positivity among the users to make use of cryptocurrencies.

JeffBrad12

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Quote from: figmentofmyass on December 12, 2019, 03:30:14 PM

that's my interpretation too. people are trying to say that the government being anti-cash means they are pro digital payments = pro bitcoin. i don't buy that for a second.

they are penalizing merchants who don't accept debit/credit card payments. i don't see them doing that with bitcoin.

Exactly, it's funny to see how wild people's interpretation could be and even talking about something that's not happening. Italy forcing people to use digital payment which i'm sure it's credit card issued by bank or some kind so that they could easily have a control over it and crypto is definitely not the thing they want.

eaLiTy

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Quote from: ene1980 on December 12, 2019, 05:59:39 PM

~snip
Hope you misinterpret things here, cashless does not mean bitcoin, taking all the fiat transaction digitally is what they mean by this. There is a huge difference between the two and stop spreading fake news.

These misinterpretations are done by online medias as a click bait to have more clicks and it has nothing to do with the facts, when China was talking about blockchain and how they are planning to implement them, all the shitty sites and the forum was filled with how China is finally embracing BTCitcoin and those news have nothing to do with the reality and so is the case with all the countries planning to implement physical fiat transactions restrictions, they are planning to force everyone to start using digital fiat transactions to have a better grip over the citizens and to monitor all their financial transactions and that does not mean that they will be accepting BTCitcoin.

Anticash- Government limiting the use of paper notes and coins

Digital transaction- Netbanking, UPI, cards payment and so on.

Hope anyone can identify the difference Tongue

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ene1980

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Quote from: cheezcarls on December 11, 2019, 06:07:00 AM

It seems that the prime minister of Italy is now in favor of cashless payments than spending paper bills in various products and services.

I also like his idea that companies who are operating in Italy are penalized if they do not accept credit or debit card as mode of payments for their customers. One thing that Italy should solve is those who are “unbanked”. Of course, not all Italians have a bank account or qualified to have a credit card.

Cash is preferred here most of the time but the government is planning to change all the transaction digitally for a long time and this is not a recent news as they are implementing a limit to spend physical cash but you can still make digital transactions but what i do not understand is that how come it will boost bitcoin, there are many fake articles coming out claiming that these cash limit will boost bitcoin, but what is the logic behind it Roll Eyes

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Quote from: cheezcarls on December 11, 2019, 06:07:00 AM

Enter Bitcoin and other cryptocurrencies. I think this is a baby step towards full cashless society, and I strongly believe that Bitcoin and other cryptocurrencies will also be part in their future system. What do you guys think about this?

Is this a great idea for Italy’s future? Should they be a great example to other countries who needs to transition from cash to cashless?

Hope you misinterpret things here, cashless does not mean bitcoin, taking all the fiat transaction digitally is what they mean by this. There is a huge difference between the two and stop spreading fake news.

figmentofmyass

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Quote from: bitbollo on December 11, 2019, 05:26:54 PM

personally (my Italian 2 cents ), I don't agree with such type of agreement, since these limitations are like "honey" for our banks and their heavy fees on credit card ...
limitations on cash payment will not avoid tax evasion.
limitations of cash payment wan't give any real advantage to bitcoin.
it's just an anti-cash promo, they will not adopt bitcoin Cheesy

Have you ever heard that in Italy there are some politics party that own millions of euro and they want give anymore to the collectivity ?
https://milano.corriere.it/notizie/cronaca/19_dicembre_10/fondi-lega-riciclaggio-indagato-stefano-bruno-galli-assessore-regione-lombardia-ec367a88-1b5f-11ea-9c4c-98ae20290393.shtml
Did you think people like this want track their payment

Come on guys, come on!!!!

the right news should be=
ITALY is now ANTI-CASH. That's it. Don't be fooled!

that's my interpretation too. people are trying to say that the government being anti-cash means they are pro digital payments = pro bitcoin. i don't buy that for a second.

they are penalizing merchants who don't accept debit/credit card payments. i don't see them doing that with bitcoin.

bitbollo

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Quote from: Bitcoinislife09 on December 12, 2019, 10:07:23 AM

Could be Italy is being futuristic since the bitcoin was already recognized in Italy I think this is one of the best things to do to associate bitcoin in their country.
This have a significant effect in the future since they are adjusting in the bitcoin technology and cashless transaction surely a lot of people in Italy are getting expose in bitcoin and making the bitcoin community bigger.

There is only 1 real news to be discussed= Italy is now anti cash. There isn't anything pro bitcoin with that news...

@codegnome = in italy we have euro...

Hippocrypto

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If Italy did this for the benefit of many people, I guess they come to an idea that comfort to lot of people who has the heart to fulfill my what was needed to have in order to survive along the way. As bitcoin continued to improve the system of many people and other countries, then this should be pursued intensively. Being a pro bitcoin, has a lot of disadvantage and advantages so its always a matter of perspectives.

Kambal2000

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Quote from: Bitcoinislife09 on December 12, 2019, 10:07:23 AM

Could be Italy is being futuristic since the bitcoin was already recognized in Italy I think this is one of the best things to do to associate bitcoin in their country.
This have a significant effect in the future since they are adjusting in the bitcoin technology and cashless transaction surely a lot of people in Italy are getting expose in bitcoin and making the bitcoin community bigger.

Well if this is real thing happening already in their country, then it will be a great idea for all of us, it is really a good news that we don't need to prove something to the government as there are few countries who are regulating and legalizing crypto already, let's see the outcome in Italy hope it will success so that we can make them as an example.

Bitcoinislife09

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Could be Italy is being futuristic since the bitcoin was already recognized in Italy I think this is one of the best things to do to associate bitcoin in their country.
This have a significant effect in the future since they are adjusting in the bitcoin technology and cashless transaction surely a lot of people in Italy are getting expose in bitcoin and making the bitcoin community bigger.

Ris88

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Of course I agree with this good news, that it will lift the growth of bitcoin / altcoin in the future, that what I know is that some countries have done the same thing as Italy, and many more companies or restaurants in supermarkets or malls will receive payments with digital currency ...

TRONTON

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This is indeed a good step to encourage cashless-society, but I see for some points they seem excessive, some people will not be directly involved with bitcoin, they will move very slowly.

I also have not read the news about whether they are among the countries that will actively carry out tests on digital / crypto money, so the economic impetus that seems to open up further uses is only for sustainable methods of using fiat.

DreamStage

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Don't know if that's a complete good news overall.

More people will in fact start investing / buying Cryptocurrencies.
Price will get bigger and good for everyone. But what about the economy on Italy?

People will start getting poor, buy less and the economy will drastically decrease as people will tend to buy even lesser.

It can be a 2 knifed situation for them.

alyssa85

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Quote from: malevolent on December 11, 2019, 07:39:33 PM

Quote from: cheezcarls on December 11, 2019, 06:07:00 AM

I also like his idea that companies who are operating in Italy are penalized if they do not accept credit or debit card as mode of payments for their customers. One thing that Italy should solve is those who are “unbanked”. Of course, not all Italians have a bank account or qualified to have a credit card.

Enter Bitcoin and other cryptocurrencies. I think this is a baby step towards full cashless society, and I strongly believe that Bitcoin and other cryptocurrencies will also be part in their future system. What do you guys think about this?

Is it really hard to get a bank account in Italy? Shouldn't be the case in an EU member country.

It isn't hard to get a bank account in Italy at all.

People use cash because they get a discount for using it (the vendor doesn't bother to charge VAT). Of course this upsets the government because they depend on VAT revenue.

airdnasxela

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There is nothing stated that they are into cryptocurrency or the government of Italy is a pro-bitcoin. They're just limiting the use of paper cash in their country. I don't know the reason, I am not from that country but maybe they're just aiming to adopt cashless transactions. Maybe a part of innovation in their country? I also don't think it's appropriate to call it as a war on cash since it's still their own currency. I mean, why would they fight on themselves?

znation

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If their country is against cash and bitcoiun support is a good thing, according to their friend's article they only fight against cash starting next year but have not found information that they support bitcoin, but hi Hope they will quickly accept and support bitcoin in the near future.

Topic: So Italy is now anti-cash and pro-Bitcoin? - page 2. (Read 1003 times)