Trivial. And trivial of course to link every such machine to a centralized database of taint. But they dont do that, and people should ask themselves why, when we know that hard cash is the preferred method of transaction for criminals, money launderers, terrorists, and all the people they say they want to protect us against.
Maybe because they are printing more money all the time and they run out of serial numbers
But seriously, they are removing old paper bills and releasing new ones all the time, and they probably have some database that is not publicly released.
Besides, I think that most of the fiat money doesn't really exists and it's only numbers on screen, so if all the people wanted to withdraw from banks, it wouldn't be enough paper money for this transactions.
They don't need to do this with cash, because the vast majority of people use digital fiat now, with the banks enforcing the rules of the government and performing mass surveillance for them. Look at the Canadian truckers as a prime example of this happening in a western nation. Spend your money in a way the government don't like? Uh oh, now all your accounts have been seized.
Exactly, but this was slow gradual process and they offered benefits and incentives to make people switch using mostly digital fiat money.
I know one girl from China said she didn't see paper money or hold it in her hands for years, and if you don't have smartphone you can't live in China cities anymore.
I would argue that in the same way, an alternative to the transparent blockchain with easily enforceable taint claims, would be a blockchain that uses cryptography to be fully veiled, which removes the ability to trace coins.
Even if some private blockchains like this exist today, they are not totally private and they need to be constantly improved and changed.
It's fair to say that in future it's going to be possible to reveal most transactions for let's say monero, so they need algorithm improvements all the time.
I wish bitcoin had optional privacy from start, and it's crazy that so far nobody proposed any realistic protocol change for this.
It's no wonder Elon Musk didn't buy Twitter after all...
It's just a circus show for the masses.
I bet their end game is for him to buy twatter in the end but they will introduce mandatory kyc for profiles, with excuse of bot reduction and better security.
Anyone who think Musk is a good guy is delusional. just remeber mess he made with Bitcoin, Doge, etc.
Oh btw twatter was recently hacked and millions of phone numbers leaked