Bitcoin (BTC) may have lost over 80% of its value over the past 13 months, but many have argued that its underlying value proposition has only become more and more apparent. Hasu and Three Arrows’ Su Zhu, two crypto researchers, touched on the subject matter on Tuesday, when they released a collaborative blog post outlining the value that Bitcoin poses to a society rife with government-issued digital money.<\/p>\n
Cash, not money (yes, there’s a difference), has existed for hundreds, if not thousands of years. For those who missed the memo, cash is inherently a peer-to-peer, permissionless, and private medium.<\/p>\n
Yet, with the rise of the digital payment services in mind, Hasu and Zhu argue that the hegemony that forms of cash has established itself could be coming to an end. The duo writes<\/a> that PayPal, Venmo, Square, and products of similar caliber and nature “remove every need for cash,” as they’re marketed as faster, cheaper, and more efficient forms of payment.<\/p>\n New article with @zhusu<\/a> where we argue that the elimination of cash, even if most payments are already digital, will make society more vulnerable to surveillance, financial control, and authoritarianism.https:\/\/t.co\/kRVwaJM7Cr<\/a><\/p>\n — Hasu\u26a1\ufe0f\ud83e\udd16 (@hasufl) February 12, 2019<\/a><\/p><\/blockquote>\n\n