[HN Gopher] Cars, funerals and home improvements: EU to crack do...
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       Cars, funerals and home improvements: EU to crack down on large
       cash payments
        
       Author : 4ad
       Score  : 21 points
       Date   : 2021-08-03 20:44 UTC (2 hours ago)
        
 (HTM) web link (www.independent.ie)
 (TXT) w3m dump (www.independent.ie)
        
       | greendestiny_re wrote:
       | Anti-money laundering is one of the last vestiges of bureaucratic
       | tyranny. It's no wonder those measures fail in 99.95% of cases,
       | causing grief to legitimate businesses and customers.
       | 
       | https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...
        
       | _-david-_ wrote:
       | I don't use cash that often but having the option is extremely
       | important.
       | 
       | Without cash governments and corporations can block your
       | transaction for any reason all while tracking where you are and
       | what you are buying.
       | 
       | Maybe these current politicans and corporate boards won't abuse
       | this power, but it is only a matter until they do.
       | 
       | We already know about cases where credit card companies have
       | prevented (and have threatened to prevent) transactions from
       | going to other businesses. If there is no alternative to digital
       | currency we would be dictated by corporations and governments
       | what we can and cannot buy.
        
       | recursivedoubts wrote:
       | You can't cancel cash.
       | 
       | Therefore, cash shall be cancelled.
        
       | superkuh wrote:
       | Cash is one of the last ways for human persons to exchange value
       | without having a corporate intermediary or government institution
       | act on their behalf. Human cultures will be losing quite a bit if
       | they allow nation states to progressively ban person to person
       | interactions like this.
       | 
       | It also creates a very fragile, expensive to maintain society in
       | which transactions are not possible during emergencies.
        
       | White_Wolf wrote:
       | This might sound a bit far fetched but :
       | 
       | Wouldn't that create:
       | 
       | 1. Some sort of kill switch that allows those in power/with
       | control to just "turn off" dissenters(not taking into account
       | those sponsored by other entities);
       | 
       | 2. Some sort of underground markets for other means of
       | transfering money like gift cards and such;
       | 
       | 3. create a parallel economy via some sort of bartering system in
       | countries where digital means are not exactly widely adopted in
       | rural areas;
        
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       (page generated 2021-08-03 23:02 UTC)