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A great lightbulb moment was realizing that the fiat system is built around sharing its equivalent to private keys for every single non cash purchase.

The numbers on the bottom of a check? Everything someone needs to clean out your checking account. There is no way to use a check without giving them out.

Hand a cashier your credit card? You realize they have the power to charge any number to that card right?

The only reason that the current fiat system doesn't seem completely laughable is because we all grew up fully indoctrinated in it.

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Discussion

Huey 2y ago

This was a great epiphany for me as well. The whole system depends on identity, credit, and risk management. The money is only as real as the spender can be surveiled and held accountable by the law. The increasing costs of related fraud will bankrupt the operators.

Majere 2y ago

I show you mine you show me yours.

Yeah never thought about it, acct & routing right there on the bottom.