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Re: <nettime> In Praise of Cash
Morlock Elloi on Fri, 3 Mar 2017 07:55:19 +0100 (CET)


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Re: <nettime> In Praise of Cash


Bitcoin was never cash (that was the biggest lie about Bitcoin), so it could not possibly counter the war on cash. It was exactly the opposite - it was a competitor in the anti-cash surge. There is no end user independence, there are no traceless offline transactions, there is huge amount of strings attached to powerful players, and huge amount of complex technology required. The real understated promise of Bitcoin was avoidance of taxation, and even that is turning to be a pipe dream.

Nine out of 10 mints are in the China mainland. Nine out of 10 mints are in the China mainland. Nine out of 10 mints are in the China mainland. Nine out of 10 mints are in the China mainland. Nine out of 10 mints are in the China mainland.

On the other hand, Chaum's double-blinded signatures (and Digicash around them) provided something more cash-like, with bank-based bookkeeping, but actual transactions could be anonymous and not traceable to neither payer nor payee. Mark Twain Bank and Deutsche Bank played with it briefly, but the concept scared the sh*t out of everyone so it was retired.


Bitcoin was war on the war on cash.

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