I agree with you until this point. Banks will still be able to apply the same safeguards they use when customers deposit large amounts of cash (reporting large transactions, "suspicious" activity, etc)
Same goes with certain type of merchants such as precious metal dealers.
I don't know if other merchants that deal with large transactions need to report large cash transactions (casinos, car dealerships, etc?)
Bitcoin is really no different than cash in this respect, except it's easier to move but actually more traceable since the blockchain is entirely public.
I agree with you until this point. Banks will still be able to apply the same safeguards they use when customers deposit large amounts of cash (reporting large transactions, "suspicious" activity, etc)
Same goes with certain type of merchants such as precious metal dealers.
I don't know if other merchants that deal with large transactions need to report large cash transactions (casinos, car dealerships, etc?)
Bitcoin is really no different than cash in this respect, except it's easier to move but actually more traceable since the blockchain is entirely public.