Everyone always makes this point "oh but all the criminal activity is with cash!", but I think it really lacks nuance.
The real issue is whether society can handle a form of cash which is even more powerful than physical cash; clearly governments and some parts of the elite like the idea of killing physical cash already given how much latitude it gives people (ordinary, and criminals) to move wealth around.
On the other extreme, can society handle no form of cash (bills or crypto) where political movements like gay rights or protecting gun ownership can be shut down by the whim of a politician? Cash looks to be on the way out, crypto might be the way people fight back against these politicians.
@rumblestiltskin 100% that's my view too.
What worries me is, what does the general populace support. I fear they don't see the tradeoffs like we do.
Recent announcement in .nl about further reduction of what you can buy with cash was received with raving applause. Justification? Crime of course. That argument can be used ad infinitum.
The next, inevitable imo, financial crises will be a hard lesson for a lot of people.
Few people are aware that bail-in laws have already been passed in many countries. And then they also learn that they can only withdraw a small allowance (of their own money) to buy food.
True but I think a world where cash is gone and the surveillance payment/control system with have now is all that's left is more scary.
@Firedragon888 100% agree. I'm talking about what society's going to accept, not what people like us think.
No idea how it will actually play out.
Me either! Bitcoin plus the internet supercharges changes that were already happening with the internet alone, maybe too fast for many
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