Hacker News Reader

You have it backwards, most cryptocurrencies transactions are, at best, pseudononymous, where, by contrast, cash transactions are anonymous by default.

> What has society gained in return?

A currency technology that doesn't rely on central authority, slavery nor imperialism to exist.

View on HN

I wrote USD, not cash. Most transactions in USD are electronic, not physical, so it’s a little unclear what point you’re trying to make.

USD includes cash. In fact, cash is the preferred payment method for criminal things, contending with Monero, so complaining about its inclusion is certainly something.

Going even further, cryptcurrencies, being distrusted ledgers, still fulfill the ability to test for someone "social trust" within a transaction, anonymous or not. Also, it's not like we, as the whole society, have access to your transaction history at all times with USD (which we do with Bitcoin, funnily enough).

Anyone who lives in a country with high inflation and unstable monetary policy can now use crypto to store wealth. Calling crypto inherently bad is pure first world privilege.

Reply on news.ycombinator.com