Hacker News Reader

When I order a cheeseburger and pay with cash, the clerk is always cautious to ensure that the cash I provide wasn't previously stolen. After enjoying my meal, I always make sure to thoroughly investigate the diner after to ensure that they pay their fair share of taxes.

View on HN

Granted. What about when you make a transaction over 10k?

$10k today, or in 40 years when that's how much I need to pay for a cheeseburger?

Today, for KYC requirements.

You expect 18.85% annualized inflation for the next 40 years?

You're right. When I meet a guy off craigslist that wants to sell me his car, he needs proof that I didn't steal the $12k I'm handing him in an envelope, and then I keep tabs on him to make sure he doesn't do anything illegal with the money.

No, but your bank has reporting requirements when you want to deposit that money.

You're making assumptions about what anyone receiving money should do. No no no.

I think you've got that arse about. Don't you want to know that the car you just bought wasn't stolen?

That's a function of the car, not the payment mechanism. I look up the VIN and review the title before I buy the car...

Reply on news.ycombinator.com