Privacy

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Should cash stay alive to enable "private" transactions? (lemmy.ml)

submitted 1 day ago* (last edited 1 day ago) by War5oldier@lemmy.world to c/privacy@lemmy.ml

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For example: in Canada, the bank accounts of those who protested were literally frozen (for simply speaking out or being critical) and talks of potential CBDCs (aka. used to deduct funds from one's account as a fine) whilst considering on abolishing cash altogether.

The alternative (for now at least) may be Crypto (online) until they consider that "illegal" in the future penalizing those who are using it, framing that as money laundering or tax evasion, whilst pushing their propaganda of "tap & go is safe & convenient".

The answers are divided between:

"Cash is King" (it allows anonymous or "private" transactions between you and the merchant)
"Contactless" (convenient, but your purchases & transactions are monitored by the state)

Cash is apparently the last bastion of "anonymous" transactions where it doesn't appear on one's statement and one gets to keep their money without the state deducting it from their account since a nation's central bank has monopoly over CBDCs and one's funds.

That's not even the end of it: them trying to make BTC or equivalent illegal by making CBDCs the default replacing gold overnight, it would mean all those bills you have are worthless. At this point, the only payment method is CBDCs that are linked to one's digital ID.

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[–] merc@sh.itjust.works 3 points 1 day ago (1 children)

Why do you think you'd be able to buy groceries with cash if the power grid goes down?

[–] over_clox@lemmy.world 5 points 1 day ago (3 children)

Hurricane Katrina, 2 weeks no power and no internet or cell service. The local store was literally giving the cold foods away, as the coolers didn't work, but they ended up getting a backup generator in for basic power to the lights and pumps, and they had like a mile of cars lined up to get gas, and buy dry goods and canned goods.

This was back in 2005 ya know, in a small town flooded in and struggling. Even the people running the store were struggling, they had to resort to taking a tractor to work. But we all helped each other, and the store was glad to sell whatever viable goods they had, for cash, and kept up with everything on pen and paper.

[–] FineCoatMummy@sh.itjust.works 2 points 1 day ago

they had to resort to taking a tractor to work.

I feel bad for the situation but TBH that's kind of badass.

[–] swelter_spark@reddthat.com 2 points 1 day ago* (last edited 1 day ago)

And after Ida. No power for a month in some places. People were selling cooked food on the streets for cash. I'm sure if you were enterprising, you could buy/sell groceries the same way.

[–] merc@sh.itjust.works 0 points 1 day ago

They could have just used the pen and paper with no cash.