There are 1000 people who did exactly what he did with cash and securities. His crime isn't related to crypto itself. It was fraud that he committed while running a crypto exchange.
See Bernie Madoff
Boomer here, I use cash almost daily under $10 to $20 purchases. Most larger items end up on my CC which is paid off every month.
You guys hugging "digital currency" do understand the difference between crypto, using CC's digitally and more importantly... a CBDC which is what I never want to see. If you don't understand the difference and label everyone concerned as "tin hat wearers", you may need to look a little closer.
Mark
Yes, we do understand. And I never suggested that I preferred Crypto. Look at the comment that it was in response to
I never said you preferred anything. Judging from the totality of your comments above, I don't believe you do understand or you wouldn't scoff at those with genuine concerns about digital currency in it's pure form.
Mark
I find paranoia misplaced about the government being able to find out that you bought milk. Yes, I did. In part because, see above, they can also find out that you bought milk with cash if they really want to.
It's true that no one has convinced me to fear the government POTENTIALLY tracking all my monetary transactions. [4th Amendment is still in place. ] in not sure that speaks to a lack of understanding. Perhaps this that are paranoid lack understanding of how much lack of privacy there is for 90% of their cash transactions, if anyone cared to look.
Or, it could simply be a disagreement with no lack of understanding. Odd that if I disagree, I must be ignorant.
I didn't make one purchase or one sale last year that I care if the government tracks. I'm also convinced that someone is already tracking 95% of my purchases and 85% of my potential purchases.
Explain to me, in small words, what evil they could do with this information?
Even in a purely digital age, you still have crypto and PMs, if you must, to bypass Central Record Keeping.
"Explain to me, in small words, what evil they could do with this information?" Apparently you DONT understand Social Credit scores. I rest my case.
Agree. China uses a social credit system. It's right there for anyone to see how it works. It seems foolish to think "that won't happen here".
Worldwide, COVID has greatly accelerated the reduction in cash usage. Personally, COVID has seen me use cash a lot less, simply because for a year or so I was forced to go cashless and got used to the convenience. A year or so ago, someone paid me in cash with five $100 notes, and it took me forever to get rid of them.
I think coin collectors are more likely to be cash-users than random Joe Non-Collector Public, simply because we've got a vested interest in ensuring cash continues to be in use. No coins in circulation means coin collecting eventually dies out, and a dead hobby would see values tank (just ask the collectors of stamps or phonecards what that's like), and none of us really want that. And I think this increased tendency for collectors to use coins is more likely to be the case in countries where the highest-value coin in circulation is higher than US25¢, countries where coins are actually still useful to buy things with.
I recently volunteered as door attendant at a coin show here in Australia; the nominal entry fee was a "gold coin donation" (by which we mean a $1 or $2 coin), which was a pretty standard request pre-COVID. Only one or two people coming into the show said "Ooh, I don't have cash on me". Everyone going through those doors was a coin collector (or friend/family of a collector) and virtually all of them were there with cash.
I strongly suspect if, say, a model train show or teddy bear show asked for a similar "donation" today, there'd be a lot more cashless folks asking if they can pay by some other means.
Waste no more time arguing what a good man should be. Be one. Roman emperor Marcus Aurelius, "Meditations"
I personally exchange out about $2000 a week in cash, so I would nearly die if we went cashless. @OAKSTAR , I actually received four dollar coins as payment when I was working at a concession stand. I also recently paid an entrance fee with dollar coins and the guy thought that they were some kind of fake gold quarters! I thought that it was interesting that the FUN show required cashless payment.
God Bless, CRHer700
Do unto others what you expect to be done to you.
(1) SOMETHING's changed in coin use/circulation habits lately, as far as I can tell. Here it is May 2024, and I have YET to find any of the last 2 Womens Quarters from 2023 or any from 2024, and the only other 2024 coins I have found so far (pennies) have come from my wife from change at the local Wawa - - NOTHING else pulled from circulation or roll-hunting!
(2) A bit off-topic, but some posters have discussed digital tracking of our lives by the government, and its implications. Personally, I'm more worried if the Russians or Chinese governments manage to take down our internet/banking systems. Then suddenly, "rich-on-paper" folks who don't either have cash on hand at home (but what would "backed by the full faith of the government" really mean at that point that folks would want to give up material food & goods for green slips of paper?) or silver/gold in hand would probably be much worse off & less able to survive in the "new order" than others. Anyone who's had to correct a banking or credit report error can sympathize with what a tremendous effort would be required (if even possible) to reclaim one's wealth at that point......
But I digress....... I'm just bummed I can't find the moderns I need to keep our collections up-to-date!
Comments
Agree. China uses a social credit system. It's right there for anyone to see how it works. It seems foolish to think "that won't happen here".
Worldwide, COVID has greatly accelerated the reduction in cash usage. Personally, COVID has seen me use cash a lot less, simply because for a year or so I was forced to go cashless and got used to the convenience. A year or so ago, someone paid me in cash with five $100 notes, and it took me forever to get rid of them.
I think coin collectors are more likely to be cash-users than random Joe Non-Collector Public, simply because we've got a vested interest in ensuring cash continues to be in use. No coins in circulation means coin collecting eventually dies out, and a dead hobby would see values tank (just ask the collectors of stamps or phonecards what that's like), and none of us really want that. And I think this increased tendency for collectors to use coins is more likely to be the case in countries where the highest-value coin in circulation is higher than US25¢, countries where coins are actually still useful to buy things with.
I recently volunteered as door attendant at a coin show here in Australia; the nominal entry fee was a "gold coin donation" (by which we mean a $1 or $2 coin), which was a pretty standard request pre-COVID. Only one or two people coming into the show said "Ooh, I don't have cash on me". Everyone going through those doors was a coin collector (or friend/family of a collector) and virtually all of them were there with cash.
I strongly suspect if, say, a model train show or teddy bear show asked for a similar "donation" today, there'd be a lot more cashless folks asking if they can pay by some other means.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
I personally exchange out about $2000 a week in cash, so I would nearly die if we went cashless. @OAKSTAR , I actually received four dollar coins as payment when I was working at a concession stand. I also recently paid an entrance fee with dollar coins and the guy thought that they were some kind of fake gold quarters! I thought that it was interesting that the FUN show required cashless payment.
God Bless, CRHer700
Do unto others what you expect to be done to you.
All interesting responses! Keep them coming!
Just a few additional observations from me:
(1) SOMETHING's changed in coin use/circulation habits lately, as far as I can tell. Here it is May 2024, and I have YET to find any of the last 2 Womens Quarters from 2023 or any from 2024, and the only other 2024 coins I have found so far (pennies) have come from my wife from change at the local Wawa - - NOTHING else pulled from circulation or roll-hunting!
(2) A bit off-topic, but some posters have discussed digital tracking of our lives by the government, and its implications. Personally, I'm more worried if the Russians or Chinese governments manage to take down our internet/banking systems. Then suddenly, "rich-on-paper" folks who don't either have cash on hand at home (but what would "backed by the full faith of the government" really mean at that point that folks would want to give up material food & goods for green slips of paper?) or silver/gold in hand would probably be much worse off & less able to survive in the "new order" than others. Anyone who's had to correct a banking or credit report error can sympathize with what a tremendous effort would be required (if even possible) to reclaim one's wealth at that point......
But I digress....... I'm just bummed I can't find the moderns I need to keep our collections up-to-date!
