81–90 of 146 posts
Where is the balance in my wallet stored? Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in a settlement account. What if my wallet is lost? Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are r…
Earlier quoted context omitted.
4. the central bank gets to decide how much "cash" each individual deserves to have at any given point in time. All of the proposals I've heard set that limit at less than one month's apartment rent in most EU cities. Therefore, this scheme is not competing with any form of money or payment besides coins-and-banknotes. 5. this "cash" has an expiration date, which is chosen at the whim of the central bank. If you stuf…
This is exactly how the physical representation of money works as well. The central bank controls how many bills are in circulation, and the central bank regularly expires old bills and coins.
The Bank of England honors all of its old banknotes: "There is no deadline to exchange old banknotes with the Bank of England." https://www.bankofengland.co.uk/banknotes/exchanging-old-ban...
The United States has never demonetized any of its coins or banknotes. All of them are honored and are in fact still legal tender to this day -- even the $100,000 bill! https://en.wikipedia.org/wiki/Obsolete_denominations_of_Unit...
Although Canada has revoked legal tender status for some of its older bills, "The Bank of Canada continues to honor them at face value" https://www.bankofcanada.ca/banknotes/about-legal-tender/
> This payment system is different from current online payment methods, like credit cards or bank transfers, in that it offers privacy for the buyer: neither merchants nor banks can trace or link the payments. Banks will love a solution that completely prevents them from implementing KYC/AML regulation they are required to follow. Truly baffling that such a project manages, if their claims are true, to get public fun…
Where is the balance in my wallet stored? Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in a settlement account. What if my wallet is lost? Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are r…
I think you misspelled unacceptable. Anonymous donations are a massive source of corruption, which is why they tend to be capped by law (and even then, I'm sure a lot of bad people manage to get around it).
Political money needs total transparency.
(Unless you meant "more acceptable to the general public for average transactions"; in which case I agree, but I suspect it will be the opposite for governments and law enforcement agencies...)
Where is the balance in my wallet stored? Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in a settlement account. What if my wallet is lost? Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are r…
People should know that 1. it's not based on any kind of blockchain, 2. it's not a currency, it's a payment system which you could use to transfer other currencies (euro, dollar, ...) and 3. unlike most blockchain-based currencies it offers anonymity (only for buyers, not for sellers, though)
4. the central bank gets to decide how much "cash" each individual deserves to have at any given point in time. All of the proposals I've heard set that limit at less than one month's apartment rent in most EU cities. Therefore, this scheme is not competing with any form of money or payment besides coins-and-banknotes. 5. this "cash" has an expiration date, which is chosen at the whim of the central bank. If you stuf…
Btw, I haven't seen anything like an expiration date in the proposals for the Digital Euro [0], could you provide your sources for that claim?
[0] https://www.europarl.europa.eu/legislative-train/theme-an-ec...
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And the word thaler is a shortened version of Joachimsthaler. Joachimsthal was the place where the silver for the coins was mined. And the second part of that, thal, is cognate with English dale.
Very interesting! Dale is anachronistic in English by now I guess. I've only read it literarily as in "over hill and dale" and otherwise thought of Tal as valley in German.
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If you believe that kebab shops, or any shops, that put up such signs are really about card fees then I have bridge to sell you...
They do though. I have been to several who refuse cards for payments below a certain (pretty low) amount.
Cash only is not really about card fees...
Earlier quoted context omitted.
4. the central bank gets to decide how much "cash" each individual deserves to have at any given point in time. All of the proposals I've heard set that limit at less than one month's apartment rent in most EU cities. Therefore, this scheme is not competing with any form of money or payment besides coins-and-banknotes. 5. this "cash" has an expiration date, which is chosen at the whim of the central bank. If you stuf…
You're confusing Taler with central bank digital currencies (CBDCs, the Eurozone incarnation of which would be the Digital Euro). I suppose the project being funded through an EU grant could mean that it's in consideration to be used for the Digital Euro, but your criticism would apply independently of whether Taler or another technology is used, and Taler could also be used in different contexts without those limita…
https://taler.net/papers/cbdc2021en.pdf
Page 16: These denomination keys, and thus the coins, would have an expiration date before which they must be spent or exchanged for new coins. Customers would be given a certain amount of time during which they could exchange their coins.
Where is the balance in my wallet stored? Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in a settlement account. What if my wallet is lost? Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are r…