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Author Topic: Cash is best for anonymity?  (Read 195 times)
igorc
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March 03, 2018, 12:39:57 PM
 #1

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 )?

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March 03, 2018, 12:49:52 PM
 #2

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.

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March 03, 2018, 05:28:45 PM
 #3

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.
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March 03, 2018, 05:38:12 PM
 #4

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.

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March 03, 2018, 06:23:35 PM
 #5

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.
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March 03, 2018, 06:28:54 PM
 #6

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.
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.

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March 03, 2018, 06:29:00 PM
 #7

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.

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March 03, 2018, 06:30:59 PM
 #8

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 )?

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.

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March 03, 2018, 06:46:07 PM
 #9

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.

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March 03, 2018, 06:46:24 PM
 #10

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 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.

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March 03, 2018, 06:46:28 PM
 #11

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.


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March 03, 2018, 06:47:19 PM
 #12

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.

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.
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March 03, 2018, 06:53:04 PM
 #13

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.
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March 03, 2018, 07:18:26 PM
 #14

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.

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March 03, 2018, 07:18:47 PM
 #15

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.

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March 03, 2018, 07:21:50 PM
 #16

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.


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March 03, 2018, 10:10:59 PM
 #17

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 )?

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.

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March 04, 2018, 05:13:37 AM
 #18

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 )?

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.

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.
lantan81383628
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March 04, 2018, 05:23:07 AM
 #19

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.

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March 04, 2018, 05:31:34 AM
 #20

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 )?
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.

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