Cash Ban Bill Passed the Lower House

[Sanji2016]

Did you guys hear about cash ban bill ? It is quite problematic if we can not use cash anymore. Sure the threshold is now 10k but European has their limit on 1k. If this bill pass the Senate, it is just about time that the threshold will be lowered.

What do you guys think ?

ABC coverage about it - https://www.abc.net.au/news/2019-10-25/cash-ban-law-under-inqury-post-mp-concerns-on-freedom-breach/11640124

A political party called CEC made a video against it - https://youtu.be/jHSDqY8Mfj8

Perhaps we all start paying with bitcoin :miao: but then again it is traceable...

[krnboy]

Did you guys hear about cash ban bill ? It is quite problematic if we can not use cash anymore. Sure the threshold is now 10k but European has their limit on 1k. If this bill pass the Senate, it is just about time that the threshold will be lowered.

What do you guys think ?

ABC coverage about it - https://www.abc.net.au/news/2019-10-25/cash-ban-law-under-inqury-post-mp-concerns-on-freedom-breach/11640124

A political party called CEC made a video against it - https://youtu.be/jHSDqY8Mfj8

Perhaps we all start paying with bitcoin :miao: but then again it is traceable...

What does this have to do with punting?

[PervySage]

What does this have to do with punting?

I assume the OP is thinking about not being able to pay using cash. I don’t think cash will completely go away any time soon.

[holi_day]

This is probably for the shop owners to worry if only electronic transactions. They will have to find ways to manage the taxes.

[ellison]

The standard transaction in brothels and massage parlours arent affected, so whats the worry?

[Labia Vortex]

Lower house is the easy part
It's the Senate that's the hurdle

[hornedone]

Lobby Senator Lambie and Pauline Hansen to vote this down

[studsg]

Perhaps we all start paying with bitcoin :miao: but then again it is traceable...

Bitcoins traceable really ?? There goes the Russian and Columbian cartels.

Anyways. Believe this is to combat dodgy business owners trying to pay their employees in cash to avoid tax.

[Pussyhands]

Lol it’s for cash payments of over 10 000

Dunno if anyone punted for 10 000

If u pay by cash it’s most likely won’t be logged as a transaction so I’ll be fine

[ellison]

In Sydney, what can you get for $10 000 for one hour?

[Eclipsefun]

Lol it’s for cash payments of over 10 000

Dunno if anyone punted for 10 000

If u pay by cash it’s most likely won’t be logged as a transaction so I’ll be fine

That is how it starts, if you wan to make a big change you don't do it all at once, you change a little bit and let people get used to that, then repeat.

[aussiegaigin]

In Sydney, what can you get for $10 000 for one hour?

The MILFs in my local RnT shop will give you the same service you get for $100.

[BuryYourDead]

In Sydney, what can you get for $10 000 for one hour?

Alot of nose candy.

[studsg]

I find that people always found ways to adapt. It would be fun to see punt shops setup EFTPOS facilities and use interesting names like Viet Meat Roll, or Chinese Bun Shop or Sauerkraut Delight. Now even when your partner looks at the transaction and ask, how did you spend $200 for a meal there and you say they don't do split bills, you fronted the payment and your mates paid you back in cash.

[Pussyhands]

I think cashless is risky

1 hack and all the money gone, still need a mix of cash and credit

[krnboy]

I think cashless is risky

1 hack and all the money gone, still need a mix of cash and credit

Only will be hacked if you're not smart with your money or you're not bothered with security on your accounts.

[ellison]

Only will be hacked if you're not smart with your money or you're not bothered with security on your accounts.

This isnt true. The entire health records of Singapore were hacked into, including the Prime Minister. Its nothing to do with the security of your accounts. I trust the credit card companies, not to keep my account hackproof, because that is impossible. I trust them to reinburse me with every genuine fraud. I had fraudulent withdrawals on my account a few months ago. They reimbursed me. No account is 100% safe

[studsg]

I think cashless is risky

1 hack and all the money gone, still need a mix of cash and creditThe banks spends millions securing their systems plus credit card fraud protection plus deposit gaurantees such that if the account gets hacked, you don't lose money.

Vs withdrawal from ATM and some dude in a hoodie and his mates rock by.... Do you think you gonna get your cash back ?

The only cashless that's risky is stored value cards like Opal. Where anyone who picks one up can use them [emoji33]

[ellison]

I found an Opal card on the ground the other day. Did you know that if the Opal card was registered online, then the owner can deactivate the card

[studsg]

I found an Opal card on the ground the other day. Did you know that if the Opal card was registered online, then the owner can deactivate the cardYes that's true. If it's registered, the owner can deactivate the card.

But if you have spent all the money on it before that happens. Nothing the owner can do. Hence as "unsafe" as cash.

[ellison]

I went to use the Opal card and it said this card is invalid. I wont risk trying to top it up

[studsg]

Lol... Good for you taking a punt on the card. Probably a damaged card hence got tossed. Most Opal card owners I know, don't know or can't be bothered to disable the card...

[aussiegaigin]

I found an Opal card on the ground the other day. Did you know that if the Opal card was registered online, then the owner can deactivate the card

A lot of people run them into negative balances, then just throw them away and get a new one. If you tried to top it up, you'd immediately lose that amount.

Anyway, if you lose your credit/debit card and someone found it, they can still make purchases under $100 until you report it lost.

[wilisno]

I use cardless withdrawals nowadays, so I don’t even carry a card.

[ellison]

Any added complexity with cashless withdrawals? Can you withdraw from you lr current avcount. Any extra fee? Just need a PIN to access cash?

[wilisno]

Any added complexity with cashless withdrawals? Can you withdraw from you lr current avcount. Any extra fee? Just need a PIN to access cash?

Download the app of your bank. Click on cardless cash, select the amount from your account, you will be given a one-off use code, some banks also give you a separate pin number. Just go to an ATM empty handed and withdraw with the number !

Those numbers will expire after use or not use after a certain period, no risk of being stolen.

[ellison]

Download the app of your bank. Click on cardless cash, select the amount from your account, you will be given a one-off use code, some banks also give you a separate pin number. Just go to an ATM empty handed and withdraw with the number !

Those numbers will expire after use or not use after a certain period, no risk of being stolen.

Great. So here's the main question. Is the cardless option available if a brothel has an ATM? Would be nice if their little card devices could also use the cardless option

[studsg]

Great. So here's the main question. Is the cardless option available if a brothel has an ATM? Would be nice if their little card devices could also use the cardless optionI'm not sure abt your bank. But most bank indicate which ATM you made the withdrawal from on your statement... I'd rather the shop setup a EFTPOS and I'll swipe my Apple watch and the statement comes up with "bangers and mash delight" [emoji1]

[schloong]

I'm not sure abt your bank. But most bank indicate which ATM you made the withdrawal from on your statement... I'd rather the shop setup a EFTPOS and I'll swipe my Apple watch and the statement comes up with "bangers and mash delight" [emoji1]


Good one studs!!!

[ellison]

iWatch to iWatch tips for RnT punts
$20/$50/$50+