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> Cash is anonymously Every note has an unique ID. But unlike with an online transaction, tracing a bank note requires a significant effort, sometimes even imp

> Cash is anonymously Every note has an unique ID. But unlike with an online transaction, tracing a bank note requires a significant effort, sometimes even impossible. An average cash register doesn't log such things. > Cash does not require power It most certainly does. First, printing requires power. Any large transaction would likely to require use of a note-counting machine (unless a precise amount is not important). Any small transaction requires human power to process (counting, change) - and it's not free, because it takes power to provide suitable operational conditions. Given that humans are orders of magnitude slower, it could indirectly contribute to a significant resource waste (like queues are being slowes, so mall's parking lot being more occupied, requiring more power to drive around to find a spot, etc etc).

sorokod 8y ago
Every note has an unique ID. But unlike with an online transaction, tracing a bank note requires a significant effort, sometimes even impossible. "Sometimes impossible" implies some sort of parity with "Sometimes possible" which I think is incorrect. A challenge: AH26 184646 is the serial on a five pound note in my hand. Where did I get it from?
- drdaeman 8y ago
  How I'm supposed to know this? I'm not even in Europe or UK. Yet, the fact I can't know it doesn't mean no one can. Banks may (and most likely do) know which exact ATM had issued this bank note to whom. As well as when it was last encashed and from whom. This does not guarantee anything (the note could've swapped hands a few times), but it's less than perfect anonymity, and I'm sure big data can reveal a thing or two.
  - sorokod 8y ago
    If it was a dollar bill would it make easier on you? As to less than perfect anonymity , yes, it is imperfect compared to an abstract definition but, boy is it sparkling perfect compared to a credit card transaction.
    - drdaeman 8y ago
      Of course, no. It is almost irrelevant what the currency is. You know, the fact I'm not working for Facebook and just can't access your profile info didn't made data there private from, say, Cambrige Analytica. Hopefully, you see the idea - it's the same logic here. I don't argue it's great and provides lots of anonymity and are essentially untraceable without a great effort. Still, just theoretically speaking - if your bank knows a serial number of every note you withdraw and every note stores encash with them, they have some of data to profile.

sorokod 8y ago

Every note has an unique ID. But unlike with an online transaction, tracing a bank note requires a significant effort, sometimes even impossible. "Sometimes impossible" implies some sort of parity with "Sometimes possible" which I think is incorrect. A challenge: AH26 184646 is the serial on a five pound note in my hand. Where did I get it from?

drdaeman 8y ago
How I'm supposed to know this? I'm not even in Europe or UK. Yet, the fact I can't know it doesn't mean no one can. Banks may (and most likely do) know which exact ATM had issued this bank note to whom. As well as when it was last encashed and from whom. This does not guarantee anything (the note could've swapped hands a few times), but it's less than perfect anonymity, and I'm sure big data can reveal a thing or two.
- sorokod 8y ago
  If it was a dollar bill would it make easier on you? As to less than perfect anonymity , yes, it is imperfect compared to an abstract definition but, boy is it sparkling perfect compared to a credit card transaction.
  - drdaeman 8y ago
    Of course, no. It is almost irrelevant what the currency is. You know, the fact I'm not working for Facebook and just can't access your profile info didn't made data there private from, say, Cambrige Analytica. Hopefully, you see the idea - it's the same logic here. I don't argue it's great and provides lots of anonymity and are essentially untraceable without a great effort. Still, just theoretically speaking - if your bank knows a serial number of every note you withdraw and every note stores encash with them, they have some of data to profile.