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.
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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.