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Author Topic: Cash is best for anonymity?  (Read 195 times)
hase0278
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March 04, 2018, 05:43:07 AM
 #21

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.
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.

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March 04, 2018, 07:07:14 AM
 #22

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 )?
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.
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March 04, 2018, 07:28:44 AM
 #23

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 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.
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.
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March 04, 2018, 07:52:45 AM
 #24

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!
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March 04, 2018, 08:06:31 AM
 #25

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.
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.
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.

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March 04, 2018, 08:43:24 AM
 #26

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

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March 04, 2018, 08:51:26 AM
 #27

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.
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.
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.

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.
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March 04, 2018, 08:52:59 AM
 #28

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.

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

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March 04, 2018, 09:46:40 AM
 #29

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?


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March 04, 2018, 09:50:38 AM
 #30

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 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.

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March 04, 2018, 10:33:56 AM
 #31

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.

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March 04, 2018, 11:09:36 AM
 #32

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 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.
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March 04, 2018, 11:16:54 AM
 #33

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.

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March 04, 2018, 11:39:44 AM
 #34

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.

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.

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March 04, 2018, 11:45:53 AM
 #35

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 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.

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March 04, 2018, 03:01:25 PM
 #36

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

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.
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March 04, 2018, 03:16:50 PM
 #37

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 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.

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March 04, 2018, 03:21:05 PM
 #38

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.
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March 04, 2018, 03:22:53 PM
 #39

I guess cash is more anonymous than crypto. But just like parts of a blockchain every note is numbered and registered.
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March 04, 2018, 03:48:32 PM
 #40

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 )?
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.


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