--- title: "Meaning & Key Takeaway of: The one thing that’s missing, but that…" description: "\"The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to ..." image: "https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg" --- # The one thing that’s missing, but that will soon be… ![“The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.” quote by Milton Friedman](https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg) [Download](https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg) [Open image](https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg) > “The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.” [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Predicts future development of anonymous digital cash enabling private peer‑to‑peer transfers without identity disclosure. **In simple terms:** Future digital cash will be private and anonymous. Key Takeaway Support anonymous digital transactions. Themes privacy technology finance Mood analytical speculative Type economic technological When to use this quote - online commerce - cross‑border payments - privacy protection - financial inclusion Key Concepts cryptocurrency decentralized systems Questions to Reflect On - How would anonymous cash affect fraud? - What safeguards are needed for privacy? A Different Perspective Regulatory and security challenges may arise. ★ ★ ★ ★ ★ No ratings yet [Cash](https://sms4smile.com/quotes/about/cash/) [Cash Method](https://sms4smile.com/quotes/about/cash-method-2472394/) [Fund](https://sms4smile.com/quotes/about/fund/) [Funds Knowing](https://sms4smile.com/quotes/about/funds-knowing-5543135/) [Internet](https://sms4smile.com/quotes/about/internet/) [Knowing](https://sms4smile.com/quotes/about/knowing/) [Method](https://sms4smile.com/quotes/about/method/) [Missing](https://sms4smile.com/quotes/about/missing/) [One thing](https://sms4smile.com/quotes/about/one-thing/) [Reliable Cash](https://sms4smile.com/quotes/about/reliable-cash-5543133/) [Transfer Funds](https://sms4smile.com/quotes/about/transfer-funds-5543134/) [Transfers](https://sms4smile.com/quotes/about/transfers/) ## Related quotes > [I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that's…](https://sms4smile.com/quotes/milton-friedman/i-think-that-the-internet-is-going-to-be-one-of-the-major-forces-for/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [Today, India's cooking gas subsidy is the world's largest Cash Transfer Programme.](https://sms4smile.com/quotes/narendra-modi/today-india-s-cooking-gas-subsidy-is-the-world-s-largest-cash/) [Narendra Modi](https://sms4smile.com/quotes/author/narendra-modi/) > [Consider Social Security. The young have always contributed to the support of the old. Earlier, the young helped their own parents out of a…](https://sms4smile.com/quotes/milton-friedman/consider-social-security-the-young-have-always-contributed-to-the/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [The Iranian regime supports violent extremists and challenges us across the region. It pursues a nuclear capability that could spark a dangerous arms race…](https://sms4smile.com/quotes/barack-obama/the-iranian-regime-supports-violent-extremists-and-challenges-us/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Conventional wisdom on government's role in inequality often has it backwards. Tax reforms have resulted in a more progressive federal income tax; government transfer…](https://sms4smile.com/quotes/paul-ryan/conventional-wisdom-on-government-s-role-in-inequality-often-has-it/) [Paul Ryan](https://sms4smile.com/quotes/author/paul-ryan/) > [I am because the Chinese have agreed - entered into this agreement in 1997. It sets out the circumstances in which the release of…](https://sms4smile.com/quotes/george-brandis/i-am-because-the-chinese-have-agreed-entered-into-this-agreement-in/) [George Brandis](https://sms4smile.com/quotes/author/george-brandis/) > [When it comes to transfers, I leave everything with my agent.](https://sms4smile.com/quotes/hulk/when-it-comes-to-transfers-i-leave-everything-with-my-agent/) [Hulk](https://sms4smile.com/quotes/author/hulk/) > [If you continue to transfer the wealth of the population of the planet to a very small amount of people, it becomes untenable at…](https://sms4smile.com/quotes/irvine-welsh/if-you-continue-to-transfer-the-wealth-of-the-population-of-the/) [Irvine Welsh](https://sms4smile.com/quotes/author/irvine-welsh/) > [Interference between universes at the quantum level means that information transfer takes place between them.](https://sms4smile.com/quotes/james-p-hogan/interference-between-universes-at-the-quantum-level-means-that/) [James P. Hogan](https://sms4smile.com/quotes/author/james-p-hogan/) > [You get attached to the way you write, and I'm attached to notebooks. That's where I really write the plays. Just two or three…](https://sms4smile.com/quotes/neil-simon/you-get-attached-to-the-way-you-write-and-i-m-attached-to-notebooks/) [Neil Simon](https://sms4smile.com/quotes/author/neil-simon/) > [Recipients of transfers set a bad example for others, including their children, other relatives, and friends, who see that one can receive goods, services,…](https://sms4smile.com/quotes/robert-higgs/recipients-of-transfers-set-a-bad-example-for-others-including-their/) [Robert Higgs](https://sms4smile.com/quotes/author/robert-higgs/) > [The gay movement has realized its agenda, so they've gotta transfer that energy somewhere and transgenders is the next.](https://sms4smile.com/quotes/rush-limbaugh/the-gay-movement-has-realized-its-agenda-so-they-ve-gotta-transfer/) [Rush Limbaugh](https://sms4smile.com/quotes/author/rush-limbaugh/) > [For Al Gore and Paul Ehrlich and Co., whatever the problem, the solution is always the same. Whether it's global cooling, global warming, or…](https://sms4smile.com/quotes/mark-steyn/for-al-gore-and-paul-ehrlich-and-co-whatever-the-problem-the-solution/) [Mark Steyn](https://sms4smile.com/quotes/author/mark-steyn/) > [At Calvary, there was a great healing transfer where the responsibility for healing was switched from God giving it, to you receiving it.](https://sms4smile.com/quotes/rod-parsley/at-calvary-there-was-a-great-healing-transfer-where-the/) [Rod Parsley](https://sms4smile.com/quotes/author/rod-parsley/) > [The governments are seen to be less effective than they used to be. The private sector is perceived as being so much more efficient,…](https://sms4smile.com/quotes/mary-robinson/the-governments-are-seen-to-be-less-effective-than-they-used-to-be/) [Mary Robinson](https://sms4smile.com/quotes/author/mary-robinson/) ## More by Milton Friedman > [The government solution to a problem is usually as bad as the problem.](https://sms4smile.com/quotes/milton-friedman/the-government-solution-to-a-problem-is-usually-as-bad-as-the-problem/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [I believe the role that people like myself have played in the transformation of public opinion has been by persistently presenting a different point…](https://sms4smile.com/quotes/milton-friedman/i-believe-the-role-that-people-like-myself-have-played-in-the/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [To really understand something you've got to reduce it to its principles.](https://sms4smile.com/quotes/milton-friedman/to-really-understand-something-you-ve-got-to-reduce-it-to-its/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [It is a mark of how far we have gone on the road to serfdom that government allocation and rationing of oil is the…](https://sms4smile.com/quotes/milton-friedman/it-is-a-mark-of-how-far-we-have-gone-on-the-road-to-serfdom-that/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces…](https://sms4smile.com/quotes/milton-friedman/economic-freedom-is-an-essential-requisite-for-political-freedom-by/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [“The people in one district can choose not to reelect their member of Congress, but that will not change the composition of the government…](https://sms4smile.com/quotes/milton-friedman/the-people-in-one-district-can-choose-not-to-reelect-their-member-of/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought…](https://sms4smile.com/quotes/milton-friedman/when-you-have-a-time-of-crisis-what-happens-depends-on-what-ideas-are/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [The government doesn't have any money. The only power it has is to take from some and give to others.](https://sms4smile.com/quotes/milton-friedman/the-government-doesn-t-have-any-money-the-only-power-it-has-is-to/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?!](https://sms4smile.com/quotes/milton-friedman/what-would-the-people-who-sold-us-goods-do-with-the-money-they-d-get/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have…](https://sms4smile.com/quotes/milton-friedman/world-trade-depends-on-differences-among-countries-not-similarities/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run…](https://sms4smile.com/quotes/milton-friedman/is-there-some-society-you-know-of-that-doesn-t-run-on-greed-you-think/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [Well first of all, tell me, is there some society you know of that doesn't run on greed? You think Russia doesn't run on…](https://sms4smile.com/quotes/milton-friedman/well-first-of-all-tell-me-is-there-some-society-you-know-of-that/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.](https://sms4smile.com/quotes/milton-friedman/i-think-almost-every-economist-would-agree-that-government-gets/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [It is most attractive about the US to people and countries with wealth is that it can provide security, insurance really, against political instability.…](https://sms4smile.com/quotes/milton-friedman/it-is-most-attractive-about-the-us-to-people-and-countries-with/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [Hong Kong is the bellwether. If the Chinese stick to their agreement to let Hong Kong go its own path, then China will also…](https://sms4smile.com/quotes/milton-friedman/hong-kong-is-the-bellwether-if-the-chinese-stick-to-their-agreement/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) [Explore all 444 Milton Friedman quotes ](https://sms4smile.com/quotes/author/milton-friedman/) ## More Cash quotes > [“This one’s mental.’ ‘Eccentric.’ ‘What’s the difference?’ ‘A bag of cash.”](https://sms4smile.com/quotes/terry-pratchett/this-one-s-mental-eccentric-what-s-the-difference-a-bag-of-cash/) [Terry Pratchett](https://sms4smile.com/quotes/author/terry-pratchett/) > [A garden has a curious innocent way of consuming cash while all the time you are under the illusion that you are spending nothing.](https://sms4smile.com/quotes/esther-meynell/a-garden-has-a-curious-innocent-way-of-consuming-cash-while-all-the/) [Esther Meynell](https://sms4smile.com/quotes/author/esther-meynell/) > [Nothing knits man to man like the frequent passage from hand to hand of cash.](https://sms4smile.com/quotes/walter-sickert/nothing-knits-man-to-man-like-the-frequent-passage-from-hand-to-hand/) [Walter Sickert](https://sms4smile.com/quotes/author/walter-sickert/) > [“It’s me,” he says softly. “Stop listening to everything else. Remember the way you feel when I’m kissing you and touching you. Don’t think with your…](https://sms4smile.com/quotes/m-leighton/it-s-me-he-says-softly-stop-listening-to-everything-else-remember-the/) [M. Leighton](https://sms4smile.com/quotes/author/m-leighton/) > [After I graduated, I carried on with my academic work, via grants but I often had a market stall on Camden Market selling hand-painted…](https://sms4smile.com/quotes/bettany-hughes/after-i-graduated-i-carried-on-with-my-academic-work-via-grants-but-i/) [Bettany Hughes](https://sms4smile.com/quotes/author/bettany-hughes/) > [You might be a redneck if you have a picture of Johnny Cash, Willie Nelson, or Elvis over your fireplace.](https://sms4smile.com/quotes/jeff-foxworthy/you-might-be-a-redneck-if-you-have-a-picture-of-johnny-cash-willie/) [Jeff Foxworthy](https://sms4smile.com/quotes/author/jeff-foxworthy/) > [American forces in Iraq found $650 million in American cash sealed in a hidden cottage. See, this is why President Bush wants to invade…](https://sms4smile.com/quotes/jay-leno/american-forces-in-iraq-found-650-million-in-american-cash-sealed-in/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [I feel a lot better when I've got a bit of cash on me.](https://sms4smile.com/quotes/pete-doherty/i-feel-a-lot-better-when-i-ve-got-a-bit-of-cash-on-me/) [Pete Doherty](https://sms4smile.com/quotes/author/pete-doherty/) > [If our financial industry regarded security the way the health-care sector does, I would stuff my cash in a mattress under my bed.](https://sms4smile.com/quotes/avi-rubin/if-our-financial-industry-regarded-security-the-way-the-health-care/) [Avi Rubin](https://sms4smile.com/quotes/author/avi-rubin/) > [Why, just a couple of economic seasons ago, was idle cash considered an indication of bad management or lazy management? Because it meant that…](https://sms4smile.com/quotes/malcolm-forbes/why-just-a-couple-of-economic-seasons-ago-was-idle-cash-considered-an/) [Malcolm Forbes](https://sms4smile.com/quotes/author/malcolm-forbes/) > [The only issue cash presents you is the independence of not stressing about funds.](https://sms4smile.com/quotes/johnny-carson/the-only-issue-cash-presents-you-is-the-independence-of-not-stressing/) [Johnny Carson](https://sms4smile.com/quotes/author/johnny-carson/) > [It's funny about men and women. Men pay in cash to get them and pay in cash to get rid of them. Women pay…](https://sms4smile.com/quotes/hedy-lamarr/it-s-funny-about-men-and-women-men-pay-in-cash-to-get-them-and-pay-in/) [Hedy Lamarr](https://sms4smile.com/quotes/author/hedy-lamarr/) > [ I mean, you take a look at this, it's one way. \[Mexicans\] get the jobs, they get the factories, they get the cash, and… ](https://sms4smile.com/quotes/donald-trump/i-mean-you-take-a-look-at-this-it-s-one-way-mexicans-get-the-jobs/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [It was really starting to get pathetic, everyday they would come in looking for one thing or another. 'Zach, can you give me some…](https://sms4smile.com/quotes/zach-braff/it-was-really-starting-to-get-pathetic-everyday-they-would-come-in/) [Zach Braff](https://sms4smile.com/quotes/author/zach-braff/) > [One of my officers said to me that Trinidad and Tobago is seen like an ATM card... you come in with the card and…](https://sms4smile.com/quotes/kamla-persad-bissessar/one-of-my-officers-said-to-me-that-trinidad-and-tobago-is-seen-like/) [Kamla Persad-Bissessar](https://sms4smile.com/quotes/author/kamla-persad-bissessar/) [Browse all 1,141 Cash quotes ](https://sms4smile.com/quotes/about/cash/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.", "creator": { "@type": "Person", "name": "Milton Friedman" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/milton-friedman/the-one-thing-that-s-missing-but-that-will-soon-be-developed-is-a/", "about": { "@type": "Thing", "name": "Cash" }, "@id": "https://sms4smile.com/quotes/milton-friedman/the-one-thing-that-s-missing-but-that-will-soon-be-developed-is-a/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg", "contentUrl": "https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg", "url": "https://sms4smile.com/quotes/i/b29/milton-friedman-616_cash_the-one-thing-that-s-missing-but-that-wi_3132029.jpg", "width": 1080, "height": 1080, "caption": "“The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the…” — Milton Friedman", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Milton Friedman", "item": "https://sms4smile.com/quotes/author/milton-friedman/" }, { "@type": "ListItem", "position": 4, "name": "The one thing that’s missing, but...", "item": "https://sms4smile.com/quotes/milton-friedman/the-one-thing-that-s-missing-but-that-will-soon-be-developed-is-a/" } ], "@id": "https://sms4smile.com/quotes/milton-friedman/the-one-thing-that-s-missing-but-that-will-soon-be-developed-is-a/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```