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submitted 1 week ago* (last edited 1 week 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 5 days 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.

[-] StopTech@lemmy.today 2 points 6 days ago* (last edited 6 days 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.

[-] TheReturnOfPEB@reddthat.com 99 points 1 week ago* (last edited 1 week 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 1 week 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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[-] Xirup@lemmy.dbzer0.com 11 points 1 week ago

As Metallica said, sad but true. Ok, you have all your money in your bank account, but those are literally just 0 and 1s, our economy depends literally in non tangible numbers, and that's it. And you cannot pay unless the bank explicitly allow it, so your "money' isn't your money now.

[-] eleijeep@piefed.social 13 points 1 week ago

fuck Metallica

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[-] tirateimas@lemmy.pt 49 points 1 week ago

Definitely, cash is critical

[-] over_clox@lemmy.world 30 points 1 week 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? 🤔

[-] ExcessShiv@lemmy.dbzer0.com 11 points 1 week ago

I'm not sure how card payments work in the US, but here the terminals have offline-mode where the purchases are just stored locally until it comes online again.

If there's a total blackout, having cash maybe be better (but absolutely no guarantee they're usable at the grocery store)...but there's a whole lot of other much more pressing issues in that case.

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[-] War5oldier@lemmy.world 8 points 1 week ago* (last edited 1 week ago)

That's where cash serves a purpose, as a payment method during that kind of scenario.

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[-] Skankhunt420@sh.itjust.works 24 points 1 week ago

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

I am afraid it will happen in my lifetime.

[-] DarrinBrunner@lemmy.world 23 points 1 week ago* (last edited 1 week 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 1 week 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.

[-] FauxLiving@lemmy.world 10 points 1 week ago

The hypothetical tracker doesn't need to know 100%.

The kind of data analytics that would be used to track serial numbers to determine the parties involved works perfectly fine with probabilistic/incomplete information. The goal isn't to create evidence for a courtroom, it's to build a graph of the people that you interact with so further intelligence collection could be planned.

[-] SkyeLight@piefed.social 9 points 1 week ago

it’s to build a graph of the people that you interact with so further intelligence collection could be planned.

It's the Finding Paul Revere analysis, and it can get scary.

[-] hesh@quokk.au 10 points 1 week ago

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

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[-] pineapple@lemmy.ml 21 points 1 week ago

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

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[-] Lutra@lemmy.world 19 points 1 week 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.

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[-] daniskarma@lemmy.dbzer0.com 13 points 1 week 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 6 days ago

Bills also have serial numbers on them

[-] Core_of_Arden@lemmy.ml 12 points 1 week ago

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

[-] 404found@lemmy.zip 12 points 1 week 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.

[-] BillMangionee@lemmy.ml 11 points 1 week 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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[-] FreddiesLantern@leminal.space 10 points 1 week ago

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

[-] toebert@piefed.social 10 points 1 week 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 6 days ago

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

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[-] nile_istic@lemmy.world 9 points 1 week 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.

[-] datendefekt@feddit.org 9 points 1 week ago

Cash is not anonymous. The serial numbers are being used for tracking.

[-] AbouBenAdhem@lemmy.world 20 points 1 week ago

If I get cash in change from a vendor who doesn’t know my identity, and spend it at another vendor who doesn’t know my identity, what is there to tie the serial numbers to?

[-] limonfiesta@lemmy.world 21 points 1 week ago* (last edited 1 week ago)

Nothing, they're blowing it out of proportion.

However, if you put them into a banking machine or deposit in your bank, then serial tracking can become something you should at least be aware of.

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[-] alsimoneau@lemmy.ca 9 points 1 week ago
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[-] MoonMelon@lemmy.ml 8 points 1 week ago* (last edited 1 week ago)

I feel (maybe hope) that countries doing this would face significant challenges with currency substitution and private currencies. Ultimately if I want to buy something and my neighbor wants to sell me that thing the government becomes the, "Is there someone you forgot to ask?" meme.

It'd be metal af if I bought something from my neighbor and paid him in Yuan, lol.

all those bills you have are worthless.

That's the tricky thing is technically the government doesn't actually control what is worth stuff, its all just vibes. By undermining faith in their currency the government could actually lose a bit of control, not gain it. This was actually a huge fucking problem early in US history.

[-] winkly@lemmy.world 8 points 1 week ago

Who needs cash when you have bottle caps

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[-] RabbitBBQ@lemmy.world 8 points 1 week 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.

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this post was submitted on 21 Apr 2026
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