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Re:In Urban China, Cash Is Rapidly Becoming Obsolete by williamle8300 on Sunday July 16, 2017 @11:15PM (#14785432)
No thanks. Cash is king. Money should never be traceable, and you should be able to buy with anonymity.
Re:In Urban China, Cash Is Rapidly Becoming Obsolete by zanny on Monday July 17, 2017 @03:59AM (#14786491)
Except most people don't care if they are being tracked and if they aren't anonymous, so systems like these emerge using the lack of anonymity as a feature.

I am one of the folk in the inevitability of cryptocurrency camp (not btc or any existant coin, though) but that world is one where it becomes very easy to correlate wallets, or at least where the funds come from, with the person making the purchases.

For everyone who wants anonymity they can keep using bitcoin and gold after fiat paper and coins are gone.

Re:In Urban China, Cash Is Rapidly Becoming Obsolete by mac01021 on Monday July 17, 2017 @10:53AM (#14788984)
Re:In Urban China, Cash Is Rapidly Becoming Obsolete by Ironchefpython on Monday July 17, 2017 @05:02AM (#14786740)
> No thanks. Cash is king. Money should never be traceable, and you should be able to buy with anonymity.

If you believe that, you're going to be shocked when the vast majority of people switch to cashless systems, and cash will only be used for criminal activity, and then cash will become criminalized.

The solution isn't to preserve cash. That's doomed to failure.

Re:In Urban China, Cash Is Rapidly Becoming Obsolete by sshtunnels on Monday July 17, 2017 @08:29AM (#14787850)
> and then cash will become criminalized

It won't happen if enough people fight it. You should value privacy and have a healthy distrust of both banks and governments.

Here are the heartening results of an EU survey conducted earlier this year about restricting payments in cash[0]. In short, 94.9% of respondents oppose restrictions on cash payments. 86.9% believe that paying anonymously is an essential personal freedom. That's the spirit.

[0] https://ec.europa.eu/eusurvey/publication/CashPayments

Re:In Urban China, Cash Is Rapidly Becoming Obsolete by carry_bit on Monday July 17, 2017 @08:29AM (#14787848)
It's also hard to have negative nominal interest rates when you can just stuff cash under your mattress.
Re:In Urban China, Cash Is Rapidly Becoming Obsolete by urethrafranklin on Monday July 17, 2017 @08:39AM (#14787903)
Cash is already somewhat traceable (what did you think it was numbered for?) and it's illegal to buy some things anonymously, so it's really strange that you believe these things.
Re:In Urban China, Cash Is Rapidly Becoming Obsolete by zhte415 on Monday July 17, 2017 @12:55PM (#14790308)
Numbering of banknotes is mainly a meta-function, to see how long the banknote survives in the real-world. No idea for USD, but GBP 5 pound notes last a surprisingly short amount of time, less than a few months, before wear-and-tear destroys them.

There is no regulatory tracking of bank note number to who withdraws it. None. An incredible and incredibly pointless mess. ATMs do read them however,for the just-in-case scenario.

In bank robbery stories, sure "A million in used notes" sounds nice, but that's because a net would have been thrown down, or specific attention drawn to a serial, but in most cases, no. The regulatory burden would be far too surreal.

Re:In Urban China, Cash Is Rapidly Becoming Obsolete by dingdongding on Sunday July 16, 2017 @11:20PM (#14785448)
Why? You don't get anonymity in China.