02-03-2022, 11:02 AM
(02-03-2022, 10:20 AM)Zebulon Walton Wrote: Perhaps so, but unlike electronic payment it is not possible to definitively associate a specific cash purchase with a specific individual. Tracking movement of cash via serial numbers is far less precise than having a bank or other entity track everything that you do, definitely linking your every transaction with your identity to be scrutinized and analyzed in minute detail.
I still cannot fathom any good reason for a 3rd party to be involved in one's everyday purchases.
Agreed, cash is tstill the best case privacy currency for most transactions under the cash reporting limit, but a intentionally obfuscating currency like Monero(XMR) accomplishes similar results by design and without the geographic profile. What 3rd party are you referring to? most non-centralized coins just transfer numerical value from one 'wallet' ledger to another once the coins are mined. Most transfer value transparently as well as make 'wallet' balance public even if it is not associated with a particular user/human but a few make it as private as possible and thus difficult to track and almost impossible to determine 'wallet' balance without the seed.
I will also agree that for the most part crypto is far harder to spend for real world stuff and services.