Hacker News Reader

Comment by undefined3840 | Hacker News Reader

It’s somewhat ironic that the people I know who are into crypto are somewhat more likely to use cash than your average person for privacy reasons...

View on HN

Yeah, exactly. I take out $400 at a time on an ATM and then use it at farmers markets and stores over the next few weeks. I only use my credit card for refilling my transit pass, online ordering, and medical bill pay.

No one needs to have a full record of every purchase I make in real time.

There's another commenter below confirming this. The article mentions criminals switching to crypto, which misses out those with an increasing mistrust of financial institutions who prefer crypto.

I wonder if the criminal use case has not been reduced that much by crypto, as I imagine cold hard cash that's acceptable anywhere globally is preferable. Crypto may be good for some transactions, but cash will be king for a long time yet.

That part of the article made no sense. Most crypto currency is entirely traceable. It's literally an immutable distributed ledger of every transaction ever made. Sure there are things like tumblers that try to redistribute coins, but who knows how well they actually work.

Depends on how you use it. If you own your own private keys and aren’t transacting from a hot wallet like Coinbase then yes your transactions are public but your identity is not tied to your address

Reply on news.ycombinator.com