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> Do you know of any other way to send electronic cash with no intermediaries (EDIT: financial institutions) In practice you need a bank account to use bitcoin

> Do you know of any other way to send electronic cash with no intermediaries (EDIT: financial institutions) In practice you need a bank account to use bitcoin, there's essentially nobody who uses bitcoin that doesn't have a bank account, so the "no intermediaries" thing isn't really meaningful, nobody cares about this.

lolpython 4y ago
If you live near a Bitcoin ATM[0] or in one of the 10 US states[1] where LocalBitcoins still operates, you can transact solely in cash. [0]: https://www.bitcoin.com/get-started/how-to-locate-and-use-a-bitcoin-atm-to-buy-bitcoin-with-cash/ https://www.bitcoin.com/get-started/how-to-locate-and-use-a-... [1]: https://coingeek.com/localbitcoins-restricted-to-only-10-states/ https://coingeek.com/localbitcoins-restricted-to-only-10-sta...
- netsharc 4y ago
  With the ATM taking some of your money for its convenience...
- root_axis 4y ago
  You can't just walk up to a bitcoin ATM, put in cash and get out bitcoin, you typically need an account associated with the ATM that requires you to be linked with a bank account or otherwise mandating very invasive KYC that basically turns them into a functional intermediary in the sense that they can track all your payments and arbitrarily deny service based on your identity like e.g. coinbase. LocalBitcoins is not practical, nobody wants to meet up in the streets to trade cash for bitcoins.
llanowarelves 4y ago
Yes, for now it is not needed. The Canadian truckers didn't have bank accounts for a moment (maybe still ongoing). As financial prosecution, eventually algorithmically (have you seen on the threads on HN recently about people getting permabanned from various services for seemingly no reason?) ramps up, and CDBC rolls out... There is no constitutional guarantee for the freedom to use payment networks so this inevitably will be used as leverage for compliance with anything governments/national banks want It was Canadian truckers yesterday, Russians today - are we so naive to think it will be nobody tomorrow? Or are we ok with the exiling of people from society as long as its somebody we don't like?
- Breza 4y ago
  People under sanctions are also sanctioned from using cryptocurrency under penalty of law.

lolpython 4y ago

If you live near a Bitcoin ATM[0] or in one of the 10 US states[1] where LocalBitcoins still operates, you can transact solely in cash. [0]: https://www.bitcoin.com/get-started/how-to-locate-and-use-a-bitcoin-atm-to-buy-bitcoin-with-cash/ https://www.bitcoin.com/get-started/how-to-locate-and-use-a-... [1]: https://coingeek.com/localbitcoins-restricted-to-only-10-states/ https://coingeek.com/localbitcoins-restricted-to-only-10-sta...

netsharc 4y ago
With the ATM taking some of your money for its convenience...
root_axis 4y ago
You can't just walk up to a bitcoin ATM, put in cash and get out bitcoin, you typically need an account associated with the ATM that requires you to be linked with a bank account or otherwise mandating very invasive KYC that basically turns them into a functional intermediary in the sense that they can track all your payments and arbitrarily deny service based on your identity like e.g. coinbase. LocalBitcoins is not practical, nobody wants to meet up in the streets to trade cash for bitcoins.

llanowarelves 4y ago

Yes, for now it is not needed. The Canadian truckers didn't have bank accounts for a moment (maybe still ongoing). As financial prosecution, eventually algorithmically (have you seen on the threads on HN recently about people getting permabanned from various services for seemingly no reason?) ramps up, and CDBC rolls out... There is no constitutional guarantee for the freedom to use payment networks so this inevitably will be used as leverage for compliance with anything governments/national banks want It was Canadian truckers yesterday, Russians today - are we so naive to think it will be nobody tomorrow? Or are we ok with the exiling of people from society as long as its somebody we don't like?

Breza 4y ago
People under sanctions are also sanctioned from using cryptocurrency under penalty of law.