Bitcoin Forum

Cash is still being the best way if you want to make anonymous payments. Do you agree with it?
Also 85% of transactions are currently in cash.
What do you think about cash on blockchain, backed by gold ( https://goldencurrency.world )?

The problem with cash and anonymity is that you can't really transfer cash abroad.
You can't carry more then 10K$ in cash with you when you are travelling abroad, you can't send it in a package to another country as the customs will be on it and stop the package from being delivered, so cash's anonymity is really limited, bitcoin on the other hand offers anonymity transactions over the world, with a small cost and without the need of explaining to your local law enforcement where did the money come from.
That's the reason countries are so afraid of bitcoin, they can't regulate it or track it in order to prevent terror and other crimes.

True, transferring huge amounts of cash abroad will require a huge effort and a huge risk as well something that no one that earns his money legally will take, however we cannot deny that if you want absolute anonymity cash is still the best, all the transactions are forever recorded on the blockchain, so if at some point in the future an address is linked to your identity governments will have a very good idea of what were you doing with your money back then and since the blockchain is public everyone else will know too.

Not once they add the privacy layers on top of Bitcoin blockchain and believe me it is in the works. It may still take a couple of years to bring about but I believe it will happen eventually. Mimblewimble comes to mind when thinking about future privacy, not sure if there are other plans in the works.

There's already coins like Verge that offer complete anonimity by choice. Which solves the problem of transferring abroad (the problem that cash money has). To me, coins like those are the future for anonymous trading.

perhaps now other countries still forbid it because they do not know how the world of crypto system works. but if the government already understands how the work of crypto then such problems would benefit the system of government.
because with the existence of a system blockchain what you do with your money when it public will know and others will also know. because blockchain is permanent.

Cash is great for anonymity within reason, it's still fairly traceable. All notes have some ID so can be traced back to a bank or store if they are stolen or something like that. If they are clean money then they are very anonymous.

The limitation with cash is not in anonymity it's in ease, it's large and bulky and you have to meet someone face to face, it is also very difficult to transact with someone across seas for this reason.

Furthermore cash is limited in the fact that it is largely insecure, you are at risk when carrying around large amounts of cash.

Well anonymity promotes privacy and other substantial thing but the main truth is that it also supports scam things. People nowadays propose a highly attracting projects which make workers here determined just to be included here, anonymity may be a way for them to comfortably take chances to fool people, I think it will be better if you have access of their real names so they will be frightened to fool us.

In todays world most employers are paying wages by bank transfer.
I personally havent been paid a weekly wage in cash in about 20 years.
Cash is for sure untracable, when I withdraw it from the ATM I can do
what I like.

Unfortunately Ebay, Amazon, Bandcamp etc. dont accept cash.
Online shopping is become more popular and this renders cash useless.

There is no need to add the privacy layers to the bitcoin's network as it is already exists in other blockchains such as Monero and ZCash, if someone cars about being anonymous he needs to use other cryptos other the bitcoin.
Bitcoin has never claimed to be totally anonymous, and I think that it is a good point, it would be impossible to regulate coins like Monero, but regulating bitcoin would be much easier as the transactions could be viewed publicly at one of the blockchain explorers.

When you pay cash you always have to do that face to face. And when somebody has seen you, you are identifiable. When you use crypto currencies you have to give your business partner at least a wallet, and that might be tracable back to you as well. I think it is a question of personal taste under which circumstances you feel more anonymous.

A blockchain backed up by gold, I think I have read that in Venezuela they have plans to launch something like that pretty soon. Within a month or so, because their oil backed up blockchain had a good start.

And the 85% cash transactions, that differes in every country. In Sweden there are only 5% of all transactions still cash. Some banks there do not even give out cash anymore because nobody wants it there.

But do we actually need these privacy layers in Bitcoin? Correct me if I'm wrong on the matter, but isn't this what blockchainless coins aim at specifically, that is being truly anonymous? I mean coins like Byteball? I'm inclined to think that a separate coin developed with that purpose in mind would do the task a lot better than some general purpose cryptocurrency like Bitcoin with an anonymity crutch attached to it. My point is that if you want real anonymity, you should get rid of blockchain completely. Or use cash instead.

The anonymity of cash is certainly higher than the anonymity of any cryptocurrency. But bankers come up with tales about the anonymity of bitcoin. Never criminals do not use bitcoin to Finance terrorist attacks. You imagine how the killer asks to transfer him to a verified account on the cryptocurrency exchange for the execution of the murder. Lol.

I agree, using cash is still the best way to keep anonimity.
At first it semed that cryptocurrencies are solution but lately bitcoin and many other cryptocurrencies have lost a great deal of anonimity due to new techniques of tracing transactions and also due to legal and regulatory obligations of exchanges and other services.
I think we are all sensitive when privacy is involved but I'm afraid that bitcoin isn't solution for that.

I think using cash is still best for anonymity. Nothing is fully anonymous even with privacy coins, because it is not completely about privacy of transactions, wallets etc.

Cash is a form of money and so is bitcoin. Both have different aspects and purposes. Cash is requirement for everyone but bitcoin is to revolutionize the world into something new. And no I don't like the concept of cash being backed by gold. Flow of cash will always be through banks and there your anonymity gets destroyed. Think about it.

Cash leaves neither an electronic nor a paper trail. That makes it the best method of laundering money, making anonymous payments & other nefarious as well as legitimate activities as there is no record of transactions. It should be mentioned that cash is both more efficient and convenient a method of conducting transactions which gives it an inherent advantage over many types of digital or electronic payment systems, this increased efficiency boosts the economy.

Cash on blockchain is essentially what ethereum is. Crypto currencies with unlimited or variable supply can be printed without-limit-out-of-thin-air the same way that cash or other fiat currencies can.

The concept of currencies being "gold backed" is obsolete. Nations don't hold sufficient capital in gold reserves to affect potential dangers associated with currency devaluation or in worst case scenarios: hyperinflation.

It is surprising to see you say these things, that cash is more efficient and convenient. How is it really more efficient? What would you do if you needed to pay someone living at the other end of the world? Or just in another town? The point about boosting the economy is plain ridiculous if you ask me. It is cashless money specifically which is instrumental in achieving this. I would consider it sarcasm if your other points weren't in fact quite legit, for example, about leaving no trail, and utility for making anonymous payments as well as laundering money. But this beats me.

Anonymous cash is good within a reasonable range, it is still traceable, and the cash limit is not anonymous.

BTC is the best anonymity. This will allow everyone to talk freely about economic value, free from the snooping of criminals and the law of unequal government.

We are very likely to be able to use BTC to decentralize and build a reputation system of trust and integrity.

It is best for the small transactions but how about the transaction in millions you can't transfer big amount via cash,if you do you will be taxed but in bitcoin there is no tax no problem you just need the sender address then you can able to send anywhere in the world.

Still, you will be taxed when you started converting millions of bitcoin into fiat so no matter what option, you will be taxed. Cash really is the best way to make anonymous payments in daily life and in small scale since it doesn't keep record. Unlike on bitcoin, every transactions are recorded in blockchain. You will stay anonymous though so long as no one knows that you own that particular address. This being said, there is no such thing as a currency that grants full anonymity as they have flaws in them.

I really disagree on what you are saying, I think bitcoin and other altcoins is the best way to make anonymous payment in a certain transaction because it is part of their platform being decentralized, even the governments are trying to divulged the identity of crypto users for tax collection and to prevent it from using in crime.

Yeah, almost all the altcoins with no limit or mining algorithms are basically cash, ETH is on borderline IMO. But altcoin like Ripple is definitely "cash on Blockchain" but essentially this concept is flawed. IMO cash is something that needs to be physical.

Cash transactions must be done face to face, big data era, through facial recognition can find you quickly!

Now the network shopping is very advanced and can only be traded through digital currency. Cash can't buy things online!

Still not all the countries implemented taxes for the cryotocurrency so if you are one from that country then we can get benefit.
But let's talk about future we no need to convert our bitcoins anymore into fiat we can use it as a crypto to pay any paymnets,I hope that day is not too far away maybe the cryotocurrency will replace fiat system by 2025.

Yes I agree a lot of people do corruption using cash  because its untraceable, but cash only work in a country that had same currency, if it's different country then it can raise suspicions if you convert  huge amount of other currency to fiat, and also it is dangerous to do transaction that has a huge amount, so it's not too convenient to used

It seems (to me) that in most jurisdictions you will have to pay an income tax at the very least when you start converting "millions of bitcoins" into fiat. This is what income tax comes down to. No matter what the source of your income is (provided it is not something outright illegal), you have to pay this tax. Besides, if you suddenly start to receive millions in fiat to your bank account, that alone would raise a lot of eyebrows as to the source of all this wealth.

thats the only problem of cash for anonymity when talking about abroad,not like crypto you can bring how much you want,without being tracked and hold..this same reason why governments are seeking policy and agreements regarding cryptocurrencies.but other than that still cash is the most anonymous payments of all

Cash is not completely anonymous like Bitcoin. You still have to meet the person you want to trade with in the real life. Also, it is quite dangerous to carry a bag with lots of money inside. I would rather use Monero if I had to. Due to its design, its transactions are completely anonymous which means lower risk. I don't think that a cryptocurrency backed by anything can survive. Fiat also used to be backed by gold and look what happened. Petrodollar is said to be backed by oil, who will ensure that is stays like that?

It will not be cash if it will go through blockchain, because blockchain will go through online to pay your transactions. so there is no cash involved in it. IF you want to pay cash it should be through blockchain but in a fiat market. There is a big difference between cash and the transactions in blockchain, maybe you need more understanding on what it means.

In terms of anonymity alone, cash is the best.  The problem is how you facilitate your transactions. You have to limit yourself on small purchases, because if you use it to buy something too big, alarms will go off. Although it depends on your government too. Third world countries tend to have lax laws on cash purchases.

Cash is best for anonymity and in my country here is how people are abusing it:

1) Some of the government jobs where salary is very low, the officers take bribe in cash and it become more than their monthly salary. Since the bribe is taken completely in cash, there is no record of it. These people use the money for expenses like rent or travelling. Another advantage is that they do not have to pay any tax on this income as well.

2) Most of the real estate deals here happen in cash only. Builders do this to save huge amount of tax from government.

Cash - this is, in fact, money, that is, the universal, most liquid commodity, and not someone's promise to provide this product. I believe that cash is more anonymous than digital money. But neither one nor the other can not be called completely anonymous. In our world, one can not remain unnoticed and do something whole anonymously. There is no such tool that would allow to do such things. However, for this purpose, nothing better than cash was invented.

It's still a good idea for limited purposes only we can use cash transactions in small and medium enterprise for easy and convenient payment without any form of confirmation of the owner, but how about big transactions  that required documents. Different from cryptocurrency which the transaction done via Internet.

Well I completely agree with you. There is nothing more anonymous than cash right now, and that's why the argument that bitcoin is used for criminal activities is a complete nonsense. Of course that it's hard to make some transactions with cash in an anonymous way, like international transactions, since you can't just walk around with a bad full of cash and travel to another country to make a payment. The amount of things you can buy using cash only is limited, at least in my country it is, and it's exactly because how anonymous cash is.

As for 85% of tx being made with cash, I would say it depends on what you consider a cash transaction. I don't think that 85% of tx are maid with live cash since most users prefer to use debit cards, and those are not really anonymous. They are for tax purposes, if you don't use your financial number, but they are recorded by your bank.

Cash is one of the most commonly used medium that corrupt people use to receive bribe from innocent people. This is because there is no record of such a transaction. I mean if you do a bank transfer, the transaction is recorded online and can be shown as a proof of corruption. However, even cash is not safe these days.

You know how it is used to catch those corrupt officials. A chemical is used is put on those currency notes and as soon as the person takes that money his finger prints are saved there. The  investigating team then catches the corrupt person red handed.

It depends on how Financial monitoring service works in your country and how are their regulations,For example in my country,there are very strict regulations and noone can send more than 30k $ without monitoring and they always ask for an answer, 'where is this money from?',anyway it depends on you and on your goverment,there are countries where you can easily make anonymous payments and conversely,what about blockchain,there is the same situation if investigative authorities doubt in transaction they will check it and it will not be anonymous anymore.

Big chunks of cash are not safe carry though. I think blockchains might be not the most ananymous way to store cash, at least it is safe if done right.

I guess cash is more anonymous than crypto. But just like parts of a blockchain every note is numbered and registered.

If we are talking about the moeny you get for selling a service or goods from another person who also got it from another person than yes, in that case the cash would be untracable and thus best to make anonymous payments, but iof we are talking about cash that you withdraw from the bank using your credit card, than no, the modern world society has paracticaly stopped using direct pysical cash, everyone uses credit cards for everything, cahs will always be regulated by govermmnets so using it will never be anonymous even if it is on blockchain.

Are you taking about cash without involving banks?
Yes they are anonymous, risky and inconvenient at same time. To go outside and have a meeting for every deal in cash is too much time taking and risky. 
Indeed majority of transactions are currently in cash but they are through banks, means they are not anonymous.

All your points are simply illogical and you are just promoting this ICO in your signature.

Yes that is right that cash is more anonymous than any other currency, but in fact we cannot carry cash too much, because it is too much risky to carry cash as people will always to get the cash from you by force, while online currency is comparatively more safe and secure as compare to any other formate of money.

Envelopes with cash are and will continue to be the method of use for the corrupt politicians, but they also hate when the people use cash to avoid taxes, this is why their agenda ahs been a very clear one: to kill cash, but to release a digital currency that's closed source for total control of the masses, while they would have access to this code through backdoors, in other words: the elite wanted a closed source currency in which they would do trades behind the curtains since they would be the only ones with access to the deep code. This was their ultimate dream, which died when bitcoin was released and busted their mind control Orwellian bubble. Now they hate bitcoin because it is an alternative to their closed source, centralized, federated hell.

Anonymity in terms of what ? I mean whether it is payment made to black market for buying drugs, alcohol, hemp or whatever thing those people do for $$$$ or whether it is about the payment in general where you dont want to show publicly where you spend money? In both the cases cash can be tracked by some means. The banks, FBI, or regulatory bodies can tackle transactions very easily by using their tools and techniques. So its no wonder blunder that wether they are using the cash. Cash is not miracle which can not be tracked. Bitcoin however can provide some sort of pseudo anonymous nature and thus make it far good than the cash. At least it can keep everything in the public ledger with private keys and can just show from which address the transaction is being done but it cant tell your identity. So its still anonymous.

I don't agree. Every bill has their own serial number so it's very easy to track cash as well as Bitcoin. It's not useful with big purchase with cash and it's too much to carry around hugh amount of cash with you all the time.

They already have fiat money as in non-cash which pretty much counts as a closed-source digital currency. Public doesn't know who pays whom via bank transfers but the government can trace every transaction made by anyone using the local currency unless cash as in coins and bills is used. In this manner, I don't think that their "ultimate dream" has actually died because it is not a dream to begin with, and it definitely ain't gonna die any time soon.


Cash is bills and coins, but what you refer to in your post is correctly called non-cash money.

Bitcoin is often described as an anonymous currency because it is possible to send and receive bitcoins without giving any personally identifying information. But in Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you. So Bitcoin transactions are not anonymous. So cash is better for anonymity in some way. Cash does not require any personal information between both parties involved in a transaction.

Cash is anonymous to a certain degree but if agencies really want to keep tabs on you and know what you are doing they could find out.
Even with bitcoin it isn't 100 percent anonymous at some point there will be a trail that heads back to you whether it is from an exchange or even a purchase you have made and had mailed to you.

This factor have been raised in this forum before, I have seen it somewhere. Yes, brother this is amazing for crypto currencies to show such leniency and safe, secure environment for their users to have amount in their e wallets. You are safe towards theft and robbery as no one can reach to your bitcoins unless they know the private keys for them. Bitcoins are providing incredible services.

In my opinion bitcoin is better for transaction of huge amounts anonymously but we will be traced through exchanges since we need to buy bitcoins if we want to use it.
But cash is only better for small amounts if that amount is huge it is hard to transct anonymously but with bitcoin it is just so easy you just need the bitcoin address and send it.

Cash has always been and will be more anonymous than bitcoin. The anonymity of cryptocurrencies is fake. Everyone can track the entire chain from the moment the coin was mined. But bankers and politicians do not call for a ban on cash. 99% of illegal transactions are financed by cash. Bitcoin is accused of all sins because they are afraid to lose control over our money.

Of course they want to ban cash, and the reason for that is very simple they want every single transaction to go through them that way they have all the power, they can freeze your accounts and take away your money and you cannot do anything about it, this is why they hate cash and this is why they hate bitcoin even more because bitcoin even if it's not as anonymous as cash allows you to send money all over the world without the help of the banking system and you can send as much money as you want so let me tell you they hate bitcoin and they hate cash as well and they would ban both of they could.

indeed for now the cash mesih be a top priority, almost all activities still use cash and transaksipun still with cash, in the state in my country, cash can not be separated from everyday life, even many people who can not use various facilities such as credit cards, visas, and more, for cash on blockchain, I think this is a new breakthrough, good luck in the market