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> If you can get it anonymously, you can move it anywhere you want as long as you stay on the blockchain Q: Is this fundamentally different to having a suitcas

> If you can get it anonymously, you can move it anywhere you want as long as you stay on the blockchain Q: Is this fundamentally different to having a suitcase full of cash?

deevolution 6y ago
A suitcase full of cash is much more difficult to transport risk-free compared to bitcoin.
- ExtraServings 6y ago
  yet infinitely easier to spend.
Heliosmaster 6y ago
Not really, and that is precisely one of the point for crypto advocates. To be used as "virtual" (just non physical) cash, easier to manage.
Mxs2000 6y ago
I’ve heard it’s easier to travel conspicuously and less risky than traveling with suitcases of cash.
alvarosevilla95 6y ago
No, but only if your suitcase will only open if unlocked by a cryptographically secure key and no one can open it through other methods. They can't steal the suitcase itself either. And you can instantly teleport the contents of your suitcase to an equivalent suitcase held by any other individual on the planet. And third parties can't arbitrarily devalue the contents of your suitcase by printing more of it.
- samatman 6y ago
  The last part of this almost certainly doesn't apply to "Diem".
  - alvarosevilla95 6y ago
    I'd argue none of the above apply to Diem actually. I'm definitely referring to traditional, actual blockchains
- logifail 6y ago
  > [..] no one can open it through other methods ... other than https://xkcd.com/538/ https://xkcd.com/538/ ?
  - alvarosevilla95 6y ago
    That still counts as using the key to open it :)
mateuszf 6y ago
> Q: Is this fundamentally different to having a suitcase full of cash? Yes, government can't print bitcoin. If you store cash - in the long term you will lose buying power. If bitcoin gets adopted as a store of value - nobody will be able to print it at will.
derefr 6y ago
It's very hard to take a suitcase full of cash across a border. It's very easy to take a private key for a wallet-account full of cryptocurrency across a border.
- reaperducer 6y ago
  It's very hard to take a suitcase full of cash across a border. Depends on the border. As long as you declare the cash to the authorities, there are many borders you can cross with great flipping wads of cash. Some industries operate mostly on cash (restaurants, for example), and "suitcases full of cash" isn't just for mobsters and movie villains.
  - mthoms 6y ago
    Where is that? In most of the west it's roughly $10k US (+/- 30%).

> If you can get it anonymously, you can move it anywhere you want as long as you stay on the blockchain Q: Is this fundamentally different to having a suitcase full of cash?

deevolution 6y ago

A suitcase full of cash is much more difficult to transport risk-free compared to bitcoin.

ExtraServings 6y ago
yet infinitely easier to spend.

Heliosmaster 6y ago

Not really, and that is precisely one of the point for crypto advocates. To be used as "virtual" (just non physical) cash, easier to manage.

Mxs2000 6y ago

I’ve heard it’s easier to travel conspicuously and less risky than traveling with suitcases of cash.

alvarosevilla95 6y ago

No, but only if your suitcase will only open if unlocked by a cryptographically secure key and no one can open it through other methods. They can't steal the suitcase itself either. And you can instantly teleport the contents of your suitcase to an equivalent suitcase held by any other individual on the planet. And third parties can't arbitrarily devalue the contents of your suitcase by printing more of it.

samatman 6y ago
The last part of this almost certainly doesn't apply to "Diem".
- alvarosevilla95 6y ago
  I'd argue none of the above apply to Diem actually. I'm definitely referring to traditional, actual blockchains
logifail 6y ago
> [..] no one can open it through other methods ... other than https://xkcd.com/538/ https://xkcd.com/538/ ?
- alvarosevilla95 6y ago
  That still counts as using the key to open it :)

mateuszf 6y ago

> Q: Is this fundamentally different to having a suitcase full of cash? Yes, government can't print bitcoin. If you store cash - in the long term you will lose buying power. If bitcoin gets adopted as a store of value - nobody will be able to print it at will.

derefr 6y ago

It's very hard to take a suitcase full of cash across a border. It's very easy to take a private key for a wallet-account full of cryptocurrency across a border.

reaperducer 6y ago
It's very hard to take a suitcase full of cash across a border. Depends on the border. As long as you declare the cash to the authorities, there are many borders you can cross with great flipping wads of cash. Some industries operate mostly on cash (restaurants, for example), and "suitcases full of cash" isn't just for mobsters and movie villains.
- mthoms 6y ago
  Where is that? In most of the west it's roughly $10k US (+/- 30%).