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submitted 3 days ago* (last edited 3 days ago) by War5oldier@lemmy.world to c/privacy@lemmy.ml

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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[-] Comrade_cat@lemmy.ml 1 points 8 hours ago

Using cash is far better but you still have some self checkouts using AI cameras to make sure you paid for what you got.

[-] nile_istic@lemmy.world 9 points 2 days ago

I know we're meant to be discussing this from a privacy perspective, but my first thought whenever the topic of eliminating cash comes up is that, at least where I am in the US, it's tantamount to euthanizing the homeless. The vast majority of unhoused folks I know (which is a lot, including myself for a terrible but thankfully short period of my life) get most of their necessities (particularly food) by buying them with cash they've earned through various means, rather than charities, food banks, soup kitchens, etc. And only a very small percentage of them has any sort of bank account and/or a device to manage digital currency.

But also privacy, yes. Cash is king.

[-] StopTech@lemmy.today 2 points 1 day ago* (last edited 1 day ago)

Use cash for now, but start transitioning to other privacy currencies, especially those that don't depend on technology, such as precious metals and local currencies like Ithaca hours. Edit: I say transition away from cash (as in government-produced cash) because that they have serial numbers that enable tracking and they can decide to declare them invalid or inflate away their value through printing if people continue to use them anyway.

[-] daniskarma@lemmy.dbzer0.com 12 points 2 days ago

Cash is not 100% anonymous though. Vendors see you, cameras record you, you may even have to sign and present id for some transactions.

[-] StopTech@lemmy.today 2 points 1 day ago

Bills also have serial numbers on them

[-] TheReturnOfPEB@reddthat.com 98 points 3 days ago* (last edited 3 days ago)

It is not the anonymity that is important.

It is not having to ask someone permission to spend money like with a debit card, credit card, and even fucking crypto need institutional permission to have access to your power to spend yo money.

anonymity ain't shit.

[-] AmbitiousProcess@piefed.social 13 points 3 days ago

Not even just permission, especially given most of these systems are made to operate on your phone rather than through a physical card.

Oops, your phone died? Sorry, no groceries for you! Did your internet connection stop working on your phone? Sooooooooooorry, you're not gonna be able to pay your bus fare.

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[-] monovergent@lemmy.ml 7 points 2 days ago* (last edited 2 days ago)

For sure, even if it's not perfect. Ready-to-use without electricity or internet, no payment processor shenanigans, and not nearly as comprehensive a system of tracking even if you account for serial numbers.

[-] tirateimas@lemmy.pt 49 points 3 days ago

Definitely, cash is critical

[-] Skankhunt420@sh.itjust.works 24 points 3 days ago

Yes. Once cash is gone a huge aspect of privacy goes with it.

I am afraid it will happen in my lifetime.

[-] Lutra@lemmy.world 18 points 3 days ago

Why is this a question?

"Should people be allowed to keep their rights?" -- this is usually intended to spark discussion, but discussing from this pov helps those who want bad things more than those who dont.

[-] girsaysdoom@sh.itjust.works 3 points 2 days ago

Because some people have a tendency to question the validity of things that don't make sense to them. I could see someone asking, "why even have physical money anymore when everyone uses banking or credit?"

The same deal with privacy, "why should I worry about internet privacy if I have done no wrong and have nothing to hide?" There are always people left out and harmed in pursuit of some form of purisim like those lines of thought.

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[-] pineapple@lemmy.ml 22 points 3 days ago

The only private alternative to cash that im aware of is monero. Nothing else is as private as cash.

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[-] utopiah@lemmy.ml 2 points 2 days ago
[-] Core_of_Arden@lemmy.ml 11 points 3 days ago

Cash is king. Always use cash when possible. I do, and I love it...

[-] eleitl@lemmy.zip 7 points 2 days ago

US recently introduced the bright idea of banknote serial numbers blacklists. Great incentive to hold greenbacks!

[-] WhyJiffie@sh.itjust.works 3 points 2 days ago

how do serial numbers get on the blacklist?

[-] eleitl@lemmy.zip 6 points 2 days ago

That's at government's discretion. E.g. they might decide to increase the velocity of money, by causing it to expire. The point is that they can render your cash invalid, with no recourse.

[-] HotChickenFeet@sopuli.xyz 2 points 23 hours ago

You happen to have a source for this? I can't seem to find much.

Will stores be checking the serial of every bill they take? That doesn't seem scalable. I'd expect they would just be not recirculated the next time it's brought to a bank. Or if it has to be in stores, by checking the series, not serial.

[-] eleitl@lemmy.zip 2 points 20 hours ago

Unfortunately I don't have an official source either, I've seen it on a Telegram channel a few days ago. Banknote serials are logged when dispensed from ATMs and when cash is being counted at the bank, e.g. when brought in by a business. So there are already checkpoints for banknote tracking. Cash isn't as anonymous as people think, but for coins.

[-] discocactus@lemmy.world 3 points 2 days ago
[-] Butterphinger@lemmy.zip 1 points 2 days ago* (last edited 2 days ago)

Interesting...

currently saving and not trusting banks or crypto the most rn, metals might... be the way to go. My big curiosity has been who to buy from, I never just considered ebay.

[-] FreddiesLantern@leminal.space 10 points 3 days ago

They want to keep track of everything so people pay their taxes…I mean a certain portion of the population that is.

[-] over_clox@lemmy.world 29 points 3 days ago

In the event of a disaster where the power grid and/or data communication goes down, how the fuck you gonna buy groceries, or anything else for that matter? 🤔

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[-] 404found@lemmy.zip 12 points 3 days ago

I don't see the benefit for the average person to get rid of cash. If it's digital it's trackable, can be hacked and more easily controlled by other parties. Also it allows for banks to charge more service fees.

[-] DarrinBrunner@lemmy.world 23 points 3 days ago* (last edited 3 days ago)

There's this:

https://thecashtracker.com/

If you get your cash out of an ATM, the machine could (I don't know if it does, but I suspect at least some do) scan every serial number of every bill it gives you. To counter that, you'd need to "launder" it though some other person, the more times and the farther away the better, until it gets spent back into the system, where it can be, once again scanned.

If you get your cash out of an ATM, and then turn around and stick it in a bill receiver at some self-checkout machine, that could possibly be tracked. I don't think this is hypothetical, I just didn't find any evidence in a quick search, but the site above shows it happens somehow.

Yes, cash is much better than a card that tracks every purchase, but it's not completely anonymous, either. And, it takes effort to ensure it's anonymous. It's not a given.

Hmmm. Since defacing a bill isn't a crime, marking out the serial number of every bill you receive would break the chain, except that you'd be one of the very few doing it. That would need to become widespread for it to have any real impact. Oh, but probably the machine would reject a bill with a marked-out serial number.

[-] AbouBenAdhem@lemmy.world 17 points 3 days ago

Even if the bill was scanned when you withdrew it at the ATM and again when you spent it, there’s no way to know if the bill changed hands in the meantime through unrecorded transactions.

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[-] hesh@quokk.au 10 points 3 days ago

Coins dont have serial numbers. Time to pay for everything in quarters.

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[-] BillMangionee@lemmy.ml 11 points 3 days ago

Monero XMR is the last bastion of "anonymous" transactions. The issue is actually obtaining it privately.

They're going to tax/fine you however they want. This is already reality. Its no different from having a bank account or making transfers via Paypal or Zelle. Our currency is already heavily digitized and centralized by governments. Transitioning to CBDCs would just be making the back-end more robust, which I'm personally in favor for. The technology for this has been worked on for about a decade now.

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[-] toebert@piefed.social 10 points 3 days ago

Even with cash we're at the mercy of a country, if they fuck up their economy and hyperinflate it, money is gone anyway.

The only way forward is to carry around stuff that has intrinsic universal value. The currency of the future is potatoes, start stocking up.

[-] Maeve@kbin.earth 1 points 1 day ago

Paper products and commodities are a good bet. And though you jest, food and potable water.

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[-] RabbitBBQ@lemmy.world 7 points 3 days ago

Cash in the United States is not as private as it seems. Eventually the bills will be scanned at various points through the financial system and the serial numbers are logged by these authorities. It may take some time to collect the data versus being able to view a blockchain, but cash isn't as anonymous as it appears. And with a vastly decreasing amount of cash in circulation, it makes it a lot easier for the Govt to track its usage. It's still the best option even considering cryptocurrencies.

Another reason for the decline in cash is that as the U.S. debt increases, the economy will have to inflate along with it, and it's much easier to manage increasing inflation in an economy without physical currency. If things get really bad and conditions exist that would cause a bank run, well, good luck doing that if you can't have cash. Run off with a copy of the database or something.

[-] PotatoesFall@discuss.tchncs.de 5 points 3 days ago

You are wrong about debt leading to inflation, that's monetarism and has been thoroughly debunked.

[-] karashta@sopuli.xyz 3 points 2 days ago

I'm so tired of hearing people spout QTM bullshit. Good on you, stranger, for calling it out.

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this post was submitted on 21 Apr 2026
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