4 ms·

That would assume a comprehensive system of serial number scanning at point-of-sale in order to track the movements and actually connect it with people/purchase

by shabble 10y ago

That would assume a comprehensive system of serial number scanning at point-of-sale in order to track the movements and actually connect it with people/purchases. The technology is probably available, and it's entirely possible that ATMs could be recording serial numbers of dispensed cash and tying them to the account used, but it's (presently) deeply unrealistic that every possible (or even most) places that accept paper money have the ability or desire to record serial numbers of incoming & outgoing bills.

sievebrain 10y ago
You're falling victim to the same trap as what Snowden is talking about. Serial numbers on bills are routinely scanned and tracked. There's a discussion here: https://www.reddit.com/r/explainlikeimfive/comments/3ou4h4/eli5_how_are_the_serial_numbers_on_banknotes/ https://www.reddit.com/r/explainlikeimfive/comments/3ou4h4/e... It's not done at the point of sale. It's done when the money is returned to the banks themselves, and when they're dispensed at ATMs. Cash doesn't circulate for long and anti-money laundering laws prevent payment for many expensive items in cash, so this can provide important clues about where the money goes. For instance, withdraw money from an ATM, pay for food at your local grocery shop, and the bank/govt can see "withdrawal from account Herr Schmidt at 7:03pm Thursday, deposited by a grocery store down the road the next day" and conclude the money was used to buy food ... or at least had at most one hop in between.
- mirimir 10y ago
  Yes, and that's problematic for mailing cash anonymously. It's not so easy to accumulate large denominations, and may attract attention. When possible, I like to mail gold. It's easy to clean, too.
  - ashitlerferad 10y ago
    We need people operating mixes for cash and SIM cards. Dump $50, get a random bunch of notes that add up to $50. Dump a prepaid SIM, get a new prepaid SIM.

by shabble 10y ago

sievebrain 10y ago

You're falling victim to the same trap as what Snowden is talking about. Serial numbers on bills are routinely scanned and tracked. There's a discussion here: https://www.reddit.com/r/explainlikeimfive/comments/3ou4h4/eli5_how_are_the_serial_numbers_on_banknotes/ https://www.reddit.com/r/explainlikeimfive/comments/3ou4h4/e... It's not done at the point of sale. It's done when the money is returned to the banks themselves, and when they're dispensed at ATMs. Cash doesn't circulate for long and anti-money laundering laws prevent payment for many expensive items in cash, so this can provide important clues about where the money goes. For instance, withdraw money from an ATM, pay for food at your local grocery shop, and the bank/govt can see "withdrawal from account Herr Schmidt at 7:03pm Thursday, deposited by a grocery store down the road the next day" and conclude the money was used to buy food ... or at least had at most one hop in between.

mirimir 10y ago
Yes, and that's problematic for mailing cash anonymously. It's not so easy to accumulate large denominations, and may attract attention. When possible, I like to mail gold. It's easy to clean, too.
- ashitlerferad 10y ago
  We need people operating mixes for cash and SIM cards. Dump $50, get a random bunch of notes that add up to $50. Dump a prepaid SIM, get a new prepaid SIM.