In China, coins and banknotes have all but disappeared
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How do people pay for illegal things like drugs, prostitution and so on?
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How do people pay for illegal things like drugs, prostitution and so on?
Crypto I guess
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This is a bad thing unless the digital currency is also privacy preserving.
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In China, coins and banknotes have all but disappeared
Wouldn't that mean they're far more used than ever instead?
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In China, coins and banknotes have all but disappeared
Wouldn't that mean they're far more used than ever instead?
It would not. The phrase means they have done almost all the disappearing except for the very last, small portion of disappearing that remains.
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It would not. The phrase means they have done almost all the disappearing except for the very last, small portion of disappearing that remains.
It's funny, while I know what the expression means, I still always think it should mean what the comment you responded to said. As in "They've gone through everything, but have not disappeared."
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It's funny, while I know what the expression means, I still always think it should mean what the comment you responded to said. As in "They've gone through everything, but have not disappeared."
wrote on last edited by [email protected]Right. They’ve registered 99 disappearing units, which are called nerbals, and have one remaining. So all 99 nerbals have been triggered, BUT the one that’s left.
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It would not. The phrase means they have done almost all the disappearing except for the very last, small portion of disappearing that remains.
Interesting that the very similar “… have anything but disappeared” would mean they have very much not disappeared.
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How do people pay for illegal things like drugs, prostitution and so on?
wrote on last edited by [email protected]In Brazil, people use pix (online governmental instant payment) to pay for drugs, so i guess in China people use wechat and alipay too. It is not like the government watches every transaction made.
Edit: Also, the volume is HUGE, in Brazil we have at least 2k payments per second made with pix, in China it should be even bigger, so if there isn't an investigation, i think the government won't look at specific payments, like a guy paying for prostitution.
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I haven't used cash in years. It is happening here too and I don't see it as a bad thing.
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I haven't used cash in years. It is happening here too and I don't see it as a bad thing.
Yeah, instant payment is amazing!
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Yeah, instant payment is amazing!
Cash is instant. It leaves their hand and goes into mine.
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Cash is instant. It leaves their hand and goes into mine.
Cash isn't instant, it's not accountable if not returned to a bank, security things (getting robbed), financial crimes, it's expensive to produce, has a lag for economic stimulus, etc. It's not even that private, each note has an origin and known processed location (market, bank, etc).
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How do people pay for illegal things like drugs, prostitution and so on?
I’m sure they use cash, and this is just related to vendors. But also, is it really news? Credit and debt cards were killing cash fast long ago.
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In Brazil, people use pix (online governmental instant payment) to pay for drugs, so i guess in China people use wechat and alipay too. It is not like the government watches every transaction made.
Edit: Also, the volume is HUGE, in Brazil we have at least 2k payments per second made with pix, in China it should be even bigger, so if there isn't an investigation, i think the government won't look at specific payments, like a guy paying for prostitution.
The government may not actively monitor transactions realtime, but it can sure as hell arrest a drug dealer or a sex worker and then go after everyone that has paid them money.
That's the thing about data collection: It may not be scary now, but it might be eventually. Who knows how a future government can abuse years of data (or data thieves for that matter)?
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The government may not actively monitor transactions realtime, but it can sure as hell arrest a drug dealer or a sex worker and then go after everyone that has paid them money.
That's the thing about data collection: It may not be scary now, but it might be eventually. Who knows how a future government can abuse years of data (or data thieves for that matter)?
Give money transaction/banking data to anyone like you said and this will become a huge crime problem. Money is a huge risk for any information to be given, I bet it's like this all around the world. "But the cops", the cops of today can steal based on that information or commit other financial crimes.
You can't trust almost anyone with any financial data, not because of privacy, but because it can cause a very large problem, not human rights problem, but destabilizing country economy problem. Have you ever seen people getting jailed at your job? I have seen in mine.
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Cash isn't instant, it's not accountable if not returned to a bank, security things (getting robbed), financial crimes, it's expensive to produce, has a lag for economic stimulus, etc. It's not even that private, each note has an origin and known processed location (market, bank, etc).
Let me address your concerns.
Leaving their hand and going into mine is about as instant as it gets.
Excel and open source equivalents exists.
Buy a safe and keep your damn mouth shut.
Don’t be a criminal, or don’t do 2 crimes at once.
Production cost is irrelevant to how fast the currency goes from person to person.
Any currency will have a lag for economic stimulus. That’s not a currency issue it’s a human emotion and thought issue.
I can go to the next state and pull out a thousand dollars in cash, come back, pay for my stuff, and now it is practically impossible to tell who has what bill, when they got it, what it was used for, or anything else about it after it left the bank. Your mechanic and grocery store don’t catalog the serial number on every bill they get for every transaction.
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Let me address your concerns.
Leaving their hand and going into mine is about as instant as it gets.
Excel and open source equivalents exists.
Buy a safe and keep your damn mouth shut.
Don’t be a criminal, or don’t do 2 crimes at once.
Production cost is irrelevant to how fast the currency goes from person to person.
Any currency will have a lag for economic stimulus. That’s not a currency issue it’s a human emotion and thought issue.
I can go to the next state and pull out a thousand dollars in cash, come back, pay for my stuff, and now it is practically impossible to tell who has what bill, when they got it, what it was used for, or anything else about it after it left the bank. Your mechanic and grocery store don’t catalog the serial number on every bill they get for every transaction.
Yeah dude, cool... Go banknotes!
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This is a bad thing unless the digital currency is also privacy preserving.
WeChat or Alipay
A bad thing, then.
