Re:Mt. Gox Finds 200,000 Missing Bitcoins
by andrewaylett on Friday March 21, 2014 @06:35AM
(#7441493)
I'm not the OP, but I think I can see what he means, and I think he means it in a non-pejorative way too.
One of the functions of banks is indeed to hide the source and destination of your money. My grocer doesn't get to know who employs me; my employer doesn't see where I spend my money.
Yes, you can achieve that with cash, without directly involving a bank. But the money is still issued by a bank.
I'm not saying that it's impossible to achieve this level of information hiding without banks, but I can see where the GP is coming from in his argument.
One of the functions of banks is indeed to hide the source and destination of your money. My grocer doesn't get to know who employs me; my employer doesn't see where I spend my money.
Yes, you can achieve that with cash, without directly involving a bank. But the money is still issued by a bank.
I'm not saying that it's impossible to achieve this level of information hiding without banks, but I can see where the GP is coming from in his argument.