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It is critical to pay for everything with cash, otherwise we will find ourselves without the freedom to pay anonymously.
by davisr 5y ago
It is critical to pay for everything with cash, otherwise we will find ourselves without the freedom to pay anonymously.
- hypertele-Xii 5y agoHow do you pay bills in cash though?
- walterbell 5y agoMoney orders.
- deleted 5y ago[deleted]
- 13of40 5y agoOr to the guy you're subletting from.
- deleted 5y ago[deleted]
- crazygringo 5y agoYou can always conduct private payments anoynmously via physical exchange of goods. Whether gold, Tide bottles (not joking), packs of cigarettes, Amazon gift cards, whatever it is you want to effectively launder. There are tons of alternatives to cash.
- swiley 5y agoOften it ends up being food, sex, and sometimes housing. Just saying: it's not a good situation.
- crazygringo 5y ago??? That is a... bizarre take on things. We don't live in a Mad Max dystopia or at the edge of nation-wide starvation. The things I mentioned are normal commodities. No idea why you feel the need to bring prostitution or odd choices like food (which spoils) into it?
- hnzix 5y agoYou're being downvoted but this is already happening at a large scale in rural America in places like Kentucky, where food stamps are used to buy cases of Pepsi to use in an informal barter economy. People will inevitably circumvent the system if it becomes overregulated. It is still one step closer to Orwellian control for the majority of the population.
- Gibbon1 5y agoI remember one time on sixth street. It's midnight. Frazzled lady asking if I'll trade food stamps for a couple of slices of pizza.
- fogihujy 5y agoYou forgot alcohol. There's a constant demand and therefore it's quite acceptable as means of payment.
- matheusmoreira 5y agoHopefully Monero will change that one day.
- jl2718 5y agoIf Monero gets completely cut off from any means of fiat conversion, then what? How do you do price discovery?
- matheusmoreira 5y agoHow do people do price discovery in USD? Why do things cost what they do? Because people price things in it. At some point people will need to start accepting it for goods and services in order to make it real. Ideally there'd be no need to use fiat at all. Most fundamentally, the USD is backed by the price of oil. The price of everything else is somehow derived from this. The USA's military will probably destroy any country that attempts to sell oil for any other currency. Can you imagine what would happen if someone sells barrels for XMR? The USD would be obsolete in no time.
- jl2718 5y agoPart of the dominance of fiat is the effect of lending and investment markets on business cash flows. Reported earnings are a tax liability for an individual, but they are an asset to a business, which increases the value of their equity and increase their debt ceiling. In an inflationary monetary system, the most important thing is asset leverage, so privacy is a bad thing. It's a funny thing actually. The SEC deals mainly with corporate over-reporting and IRS with individual under-reporting. There is a "Gresham's Law" kind of question here, whether 'better' is actually better.