The idea that I’d need anybody’s permission or a regulation to allow me to give my money to somebody else is the problem.

▲

fragmede 3 days ago | parent | next [-]

As an honest person, that makes sense. Unfortunately, the world is filled with people who are not. If I have to give my money to Alice to give it to Bob because Alice is the only person with a way to get it to Bob, I'm trusting Alice to just do that. But Alice is a business woman and is doing this for lots of people. One day, Alice just disappears with everybody's money. All of the people that relied on Alice to get money to Bob just got screwed. So then they make a bunch of rules and regulations so that doesn't happen again.

MTLs, money transmission licenses exist to say you can’t legally handle other people’s money without proving you’re trustworthy, solvent, and compliant with anti-crime laws.

▲

victorbjorklund 3 days ago | parent | prev | next [-]

Who's permission do you need to be allowed to accept $10 in cash? I mean there are regulations but that is usually not related directly to the cash payment itself but rather that you know you might need to pay taxes or there is regulation that you can't commit terrorist acts and you know that could be the blocker but then it's not really the cash payment that is needing permission. And again, nothing that Bitcoin or other crypto is solving because you still would have to have the same kind of permission or just not care about the permission but you can do that with cash too.

▲

zihotki 3 days ago | parent | prev [-]

You still can - make a wire transfer or give them cash. Or what is your actual problem?

▲

toenail 3 days ago | parent [-]

My actual problem is that the central bank devalues the money I earned. I'm glad to hear that the financial system works for you, and that you have zero problems making transactions to anybody on the planet. That's not true for a lot of people.

▲

astrange 3 days ago | parent [-]

The second law of thermodynamics devalues the money you earned. There's no way you can have $10 that always and forever buys the same things $10 currently does.

Central banks keep its value higher than the alternative, as anyone who doesn't have oppositional defiance disorder would notice from the fact that we haven't had a Great Depression lately. Because it really gets devalued if there's an economic collapse and all the businesses you trade with cease to exist.

▲

toenail 3 days ago | parent [-]

Have you ever heard of gold? That didn't continuously lose value. I'm sorry to hear you believe the nonsense modern economists, bankers and politicians tell you.

	▲	astrange 3 days ago \| parent [-]
		What is "value" here? If you value being able to purchase a specific good X, and they stop making it, then you now don't have currency capable of buying it. Doesn't matter what kind of currency it is. If you're using value in dollar value, that asset has the price behavior it does because we live in a stable economy with central banks, 2% inflation targeting and so on. You haven't seen the alternative because you'd be on the street. What you want is TIPS bonds.