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We have an anonymous system, it's called cash. The price is you lose the anonymity if you store it in a bank, which something you have to do in many countries i
by egeozcan 5y ago
We have an anonymous system, it's called cash. The price is you lose the anonymity if you store it in a bank, which something you have to do in many countries if you own too much.
You can still withdraw some and spend it anonymously.
Given, you can't buy a house anonymously with cash, but can you do that with bitcoin?
- shric 5y agoCash also fairly rapidly depreciates
- OJFord 5y agoNot inherently.
- jkepler 5y agoNo, under the iron grip of central banks.
- OJFord 5y agoWell my point is it's nothing to do with 'physical cash' or 'blockchain currency', it's an external effect which could be applied to whatever. Sure less so with something decentralised (again nothing to do with the medium really) - but you can still have positive (as in >0) inflation without someone setting inflation targets and having an 'iron grip' with which to mostly achieve them.
- dragonwriter 5y ago> Cash also fairly rapidly depreciates Which makes it a bad store of value, but has nothing to do with its utility as a medium of exchange. We have lots of productive investments to hold value in between times it is is converted to cash for exchange. Bitcoin is mainly attractive right now as one of (or an alternative to, depending on how you define “productive”) those, with a much higher average growth rate but also much more volatility than many of the other popular options.
- pjc50 5y agoNote that in the UK you cannot legally buy a house anonymously with anything.
- egeozcan 5y agoYeah, it's like that in the most of the world, and that was my point. People act like they can just switch to bitcoin and they don't need any financial system anymore.
- OJFord 5y agoI think that was GP's point, not the focus on (physical) cash, which you probably can hand over to your solicitor if you can convince them it's fine but important enough to you to pay whatever charge they have/come up with for it.
- ceejayoz 5y agoSure you can. https://www.cbsnews.com/news/pandora-papers-uk-real-estate-hiding-assets-shell-companies-corruption/ https://www.cbsnews.com/news/pandora-papers-uk-real-estate-h... https://qz.com/1151221/offshore-shell-companies-own-86000-british-properties-and-the-government-hasnt-published-a-register/ https://qz.com/1151221/offshore-shell-companies-own-86000-br...
- pjc50 5y agoThe sticking plaster for this is .. in progress :/ https://commonslibrary.parliament.uk/research-briefings/cbp-8259/#:~:text=The%20UK%20has%20registers%20of%20beneficial%20ownership%20for,launch%20a%20public%20beneficial%20ownership%20register%20in%202021 https://commonslibrary.parliament.uk/research-briefings/cbp-....
- FDSGSG 5y agoUBO registries are kind of a solved problem, everyone will just lie.
- w0mbat 5y agoYou can buy through an offshore shell company.