So much for coins becoming things of the past

[Crohnos01]

I have read several times over the last several years about how coins will become relics of the past and everyone will be using electronic transactions like Bitcoin to conduct business...Well, even those articles noted that there would always be a need for cash money as drug dealers, babysitters, and prostitutes don't necessarily like to be paid electronically.. The refered to us becoming a "less cash" society rather than a "cashless" society.....With this latest event, I don't think the mint employees will have to file for unemployment anytime soon....

 

Bitcoin Theft

[Houston Investor]

I totally agree. There are many entertainment and relaxation venues where cash is the only thing accepted. In addition, cash has tremendous financial privacy. Yet there was a recent article in Fortune Magazine about the "Death of Cash."

 

The idea that cash will become obsolete is an absurdity propagandized by those who want to control us further. If all money was electronic what are you going to do when they decide to take it all especially during a contrived blackout or political crisis? Furthermore, a debit card can be easily stolen and used by thieves.

 

Look how our financial privacy has been eroded already vs 1934 when there were 500, 1000, 5000, and 10000 bills. With inflation, what denomination would they have to print to bring financial privacy up to speed vs 1934? Answer: It would take $170 K to equal what 10 K was worth in 1934 (inflation calculator) so a $200 K bill would not be far fetched. This is how much our financial privacy has eroded. And your going to let some wall street corporate type banker (remember the bailout and how much the banks got?) make your cash and what little is left of your financial privacy electronic?

[mkman123]

The whole bitcoin thing seemed dumb to me

[World Colonial]

I am not worried about the bankers when it comes to privacy, but the US federal government. All these privacy laws which exist, NONE of it applies to them.

[johnny9434]

I am not worried about the bankers when it comes to privacy, but the US federal government. All these privacy laws which exist, NONE of it applies to them.

banksters

[Conder101]

Look how our financial privacy has been eroded already vs 1934 when there were 500, 1000, 5000, and 10000 bills.

Do you really think anyone spending one of those in 1934 had financial privacy? They would have been scrutinized with a microscope. And forget those big bills, even those passing smaller denominations (but large for the average customer) was carefully noted and talked about. In the Lindburgh kidnapping they tried to include $50 because they thought those would be so hard to pass that the kidnapper would be noticed and reported. (At the last minute the person delivering the ransom negociated a lower amount and pulled the bundle of fifties from the ransom. The authorities were not impressed.) Still though he was caught because attention was drawn to him for passing a $20! Financial privacy?