Replying to Avatar StackSats.IO

#AUStriches are limited by the Big 4 Banks to $10,000 per month in transfers to crypto exchanges.

With #Bitcoin already at $100,000 dollarydoos, if a nocoiner started *today* it would take 10 months to become a wholecoiner (unrealistically assuming no price changes).

The number of wholecoiners in Australia 🇦🇺 is thus not likely to increase much if at all from here, particularly when the remaining banks follow the new industry guidelines and also impose restrictions on on-ramps.

Australians will look back on this in 5-10 years and realise what a colossal fuckup this market interference was, but by then it will be too late to do anything about it.

It’s time to accept the trajectory of this country is fukt.

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Steven Day 1y ago

Sounds like it’s time to sell $20,000 “art”. Free Bitcoin with each purchase.

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StackSats.IO 1y ago

One thing I’m sure of is this will open up new approaches. Maybe your art idea, possibly Aus gets its own Kimchi Premium, but I bet some scammers will try something too to fill the void.

The irony of the banks protecting people from scams only to make scams proliferate 🤦‍♂️

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Steven Day 1y ago

Yeah it’s hard enough in New York where the BitLicense makes it impossible to use anything meaningful. I think we have like 3 options to buy “legitimately”.

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StackSats.IO 1y ago

Common thread seems to be extremely leftist governments - they’re the most fervent at controlling capital and thus people and always do it under the guise of protecting people.

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Steven Day 1y ago

Well the NY story proves that NYC is the fiat capital. The guy who pushed the Bitlicense then goes private sector and guides businesses on getting one “for a fee”.

But yeah. There is concentric rings of clowns managing this region.