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> * Giving criminals and scammers the ability to exchange goods and services anonymously. Doesn't cash do the same thing?
by at-fates-hands 5y ago
> * Giving criminals and scammers the ability to exchange goods and services anonymously.
Doesn't cash do the same thing?
- KarlKemp 5y agoCash doesn't scale, doesn't work remotely and, in any case, cash is actually useful for legitimate purposes, like snorting cocaine.
- sumedh 5y agoHow was Escobar able to build a multi million dollar empire if cash does not scale?
- KarlKemp 5y agoEscobar sold drugs. The margins on that stuff are rather large, allowing for a few inefficiencies. But I should have really said: cash doesn’t scale down. Escobar can put people with briefcase on planes to pay his suppliers on all continents. But any smaller outfit would struggle with those logistics.
- simonh 5y ago> Cash doesn't scale I refer the learned gentleman to, er, the global economy. How much more scaled up would you like? Meanwhile crypto transactions have to go through a single common blockchain with pitiful throughput. Even the enhancements like lightning are laughably slow compared to the global banking system.
- 2muchcoffeeman 5y agoPretty sure the orignal post is a joke, but I think crypto is a bit like a VPN in this way. Sure your bank can see the initial spend. But after that it's harder to see where the money goes. And you have some of the benefits of normal banking systems. Much harder to buy things from far away with cash.