[deweller]

Cryptocurrency transfers are irreversible, publicly verifiable and pseudonymous. For a privacy focused application, these attributes make crypto a better choice than USD and the traditional banking system.

[rtkwe]

Only pseudonymous so far as you never accidentally link yourself to a wallet then everyone can know your entire transfer/spending history. It gets people all the time just look at the investigations into various alt coin rug pulls or other fraud.

Irreversible is also not a good thing just ask anyone who had their NFTs stolen during that craze. If someone hacks my bank account or skims my card and transfers the money out the bank can reverse a lot of those transactions. Irreversibility wipes out decades of consumer protection advances.

[acheong08]

> Only pseudonymous so far as you never accidentally link yourself to a wallet then everyone can know your entire transfer/spending history

See Monero

[dylan604]

> For a privacy focused application, these attributes make crypto a better choice than USD and the traditional banking system.

So is cash. What we really need are ways of scanning a piece of fiat currency that instantly transfers that money to an account while then disabling the physical copy from the registry as valid. That's how silly I see crypto for anything other than illicit transactions

[pabs3]

Cash is tracked via serial numbers in a lot of places, here is a recent article from Germany.

https://netzpolitik.org/2025/bargeld-tracking-du-hast-ueberw...

[repeekad]

USPS will happily exchange your cash for a money order without an ID as long as it’s under a certain amount, if you’re willing to take the risk you can mail the money order and transfer reasonably sized checks fully anonymously, there are good reasons large transfers of cash probably shouldn’t be anonymous

[pizzafeelsright]

How?

Irreversible is bad because mistakes happen. I lost ~$1,000 in a bad transfer because of a typo.

Publicly verifiable -- not good because I don't want the public knowing what I buy.

Pseudonymous is the worst of both. Is it or is it not me? them?

I am thinking digital cash using pub keys on a network run from space on something like starlink sats.

[dylan604]

> I lost ~$1,000 in a bad transfer because of a typo.

Was the option of doing a much smaller amount available to validate the account before following up with the full transfer? I've never understood not doing a test transfer first.

[johnisgood]

Advice: next time pay attention before sending, all wallets ask for confirmation prior to sending, for what is it worth. Always double check, or triple check.

[strangattractor]

Handing someone a $1 is irreversible if they won't give it back. All transactions are anonymous and private when using a physical dollar. Crypto has the primary advantage of allowing you to launder money by converting the "Coin" in criminal friendly countries to a fiat currency (dollars) that actually buys stuff. Especially useful when hackers hold your data ransom. Usually what people mean by not like "traditional banking system" is unregulated/lawless.

[throwaway290]

People who don't like traditional banking system just want a system where they have more money. If they actually wanted to fix fairness etc creating a new system is not a way, you can make the old system fairer like you can make a new unfair one