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Is crypto even necessary for that kind transaction monitoring? I don't think so. Most money is essentially electronic, bits flowing through the financial system
by jonnycomputer 5y ago
Is crypto even necessary for that kind transaction monitoring? I don't think so. Most money is essentially electronic, bits flowing through the financial system. Even for exchanges on craigslist, unless you use cash. But that's such a minuscule part of the economy.
- dumbfoundded 5y agoMost money is electronic but also not easily accessible to the government. Transaction records from private companies usually require a warrant or a court order. A crypto-dollar would add a layer under that exposing all information directly to the government. No permission necessary. If you're talking pure financial volume, most of it doesn't concern individuals at all. I'm focused on the privacy rights angle where small cash transactions are absolutely crucial.
- smt88 5y agoThat ignores cash transactions entirely. You can also cash a check, of course.