Micropayments through blockchain as the future unmonitored cash

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There are a couple of things I learned from the recent CTT show. You can still listen to it on Twitter at the point of writing.

There are many things I picked up, and each can be a post as I deliberate on them. They are great inspirations for posts on Leo Finance, if you like me, are taking Hive post writing as a record of reflection about the crypto space.

The focus of this post is on the possibility of micropayments through blockchain as the future unmonitored cash in the face of excessive tracking of credit card expenditure.

Exessive tracking is an understatement. If we use credit cards, data on our spending patterns are available for analysis by credit card companies. The insights can be sold to the marketing companies to in turn make subsequent marketing more efficient. Not in favor of us the consumers, if you ask me.


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Beyond the commercial realm, our expenditure using our bank debit cards at various outlets also potentially provides governments with our data to understand the situation with the money flow. This is the aim of CBDC, too. Again, may not be best for our interest.

I learned from the CTT talk (pardon me, I don't know who brought up this point) that we are in need of a form of unmonitored cash. We used to use more of the paper form of money or cash for transactions. The expenditure and the flow of money through cash are largely unmonitored in the old days. With the cashless system, we are giving up the privilege of spending our wealth unmonitored.

Cryptocurrency, especially micropayments, could give us back our privileges. Assuming there is no KYC involved when we transact.

Imagine us going to the cafe and paying with our Hive wallet to pay in HBD. This transaction will be unidentified!

Is it a big deal? Well, it depends.

If the collective human race is cognizant of the value of our collective spending pattern data, then the proposition of micropayments through blockchain as the future unmonitored cash would be very much valued.

To this end, we can perhaps imagine a future world in that multiple cryptocurrencies are accepted in shops for us to make micropayments.

That is when I know cryptocurrency as a tool in human evolution has arrived.

P/S: This is not financial advice, and please do your own due diligence before investing.

If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.

You might be interested in this post, @graciousvic, @deflacion, @jacoalberts, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!

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13 comments
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Laughs... Yeah you see the governmental institutions won't like that very much.... They want as much info on us as possible and crypto currencies do exactly the opposite of that.

It's a shame actually because we vote for these people and they've always provided thee voting terms and situations... If that makes sense at all..

!PIZZA
!LUV

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well, what to do, this is the natural process of life. when one is in control, they want more control... for fear of losing it.

!PIZZA

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Hey @cryptothesis, I've followed the poscast too, thank you. It was very interesting and enjoyable to learn from this trio of persons who is really knowledgeable and visionary. Also pointing out on the efforts of centralized banks and institutions to harm and eventually destroy decentralised platforms coins and tokens. The FTX affair fed them to darken more. To control they need to know and as they have no limits and they want full control the way out of this control which is inhumane sadistic by freaks that are power-hungry mafia criminals is exactly what the Hive does. There might come a time when the Hive will be really bigger and more than that for many all over, Another interesting point is the big investors VCs etc that invest huge amounts that sometimes don't even exist or are created with credits and opposed to the fact of hundreds of thousands of us that deposit 250 300 400 USD and so on, allowing that and seeing that it's possible for small amounts owners to enjoy cryptos without the risk that these small sum might be taken away.

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Do you mean that the payments in HBD could not be followed or traced? I thought every move on the blockchain could be traced? Do I see that wrong? !PIZZA

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You can have multiple wallets and spend from there. That could make it harder for others to trace. As compared to the current system, it’s less intrusive. !PIZZA

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I see you coming, but don't forget CRS has 1000 eyes !LOL

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