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this post was submitted on 18 Aug 2023
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Privacy
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A place to discuss privacy and freedom in the digital world.
Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
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I agree cash sucks in may ways. But in may ways cash is extremely good. For example privacy wise cash it king as it is for the most part is untraceable. I take $1,000 out of the bank. And it is much harder for anyone but myself to keep track of where I am spending that $1,000. Vs a debit/credit card the banks have a complete logs of everything I am buying. And potentially the retailers could be tracking my purchases via my card as well.
I thought the government was tracking the serial numbers on larger bills that were dispensed through ATMs? I didn’t hear that from a reliable source, but it seems pretty simple from a number of transactions standpoint.
It wouldn't surprise me if they do. Lets say I get $100 bill out of the ATM, if the government wanted to track that bill. They would need to find that bill again and then try to back track the route the bill took to me. A very time intensive task and ultimately could lead to a dead end. After all how many people keep track of the serial numbers of your large bills?
Compare that to a card. Literally everything about it is tracked, it is all done automatically and can be acquired from the bank.