That is not entirely true. They can only track end-points with that system, meaning those places where the note ID is inspected. Moreover it's usually only done by one bank; the central bank. In any case that is certainly not a great argument for giving away more of your freedom.
Granted more and more shops now have machines that count all bills and change automatically and per transaction, under the guise of convenience and increased security towards theft or robbery. In the mean time, the notes may have travelled from hand-to-hand in a long chain that is completely shrouded in a dark—if not entirely black—economy that neither the bank nor the state can ever hope to fully track.
That all changes with the advent of a fully digital system, especially if all transactions are sanctioned to be within that system by force of law. Which is exactly what the banks are pushing for, with various scares such as claims of the danger of money laundering, corruption, and so on. What they systematically fail to add, however, is how they themselves gain the ability to track full markets, and make sure-fire investments based upon surplus data gleanded from aggregating private purchases and trades, thus ensuring their full control over said market.
Meanwhile they can use that same power to effectively shut down all opposition—and anyone who protests their actions—simply by finding a reason to freeze their accounts, just like they did to Julian Assange.[1] Thereby they get the power to effectively keep individuals they dislike from accessing the entire economy, unless perhaps they own some diamonds or a valuable goat... This has in turn given precedence to other financial institutions to shut down accounts or memberships based upon political affilations, such as is the case with Patreon, or because they somehow are construed to be in a competing position.
As an example, a Norwegian crypto trader has effectively been barred by all the banks in Norway to get a business account.[2] The reasons given were vague claims that his completely legal business somehow supported nefarious and evil individuals who all wish to undertake in money laundering, without offering any solid evidence for it. However the banks all failed to mention that his business can in many ways be seen as being in direct competition with their own business model, namely that of manual and middle-man-laden banking. In any case, for all intents and purposes, Bitcoin transactions are far easier to track than bank notes.
Granted more and more shops now have machines that count all bills and change automatically and per transaction, under the guise of convenience and increased security towards theft or robbery. In the mean time, the notes may have travelled from hand-to-hand in a long chain that is completely shrouded in a dark—if not entirely black—economy that neither the bank nor the state can ever hope to fully track.
That all changes with the advent of a fully digital system, especially if all transactions are sanctioned to be within that system by force of law. Which is exactly what the banks are pushing for, with various scares such as claims of the danger of money laundering, corruption, and so on. What they systematically fail to add, however, is how they themselves gain the ability to track full markets, and make sure-fire investments based upon surplus data gleanded from aggregating private purchases and trades, thus ensuring their full control over said market.
Meanwhile they can use that same power to effectively shut down all opposition—and anyone who protests their actions—simply by finding a reason to freeze their accounts, just like they did to Julian Assange.[1] Thereby they get the power to effectively keep individuals they dislike from accessing the entire economy, unless perhaps they own some diamonds or a valuable goat... This has in turn given precedence to other financial institutions to shut down accounts or memberships based upon political affilations, such as is the case with Patreon, or because they somehow are construed to be in a competing position.
As an example, a Norwegian crypto trader has effectively been barred by all the banks in Norway to get a business account.[2] The reasons given were vague claims that his completely legal business somehow supported nefarious and evil individuals who all wish to undertake in money laundering, without offering any solid evidence for it. However the banks all failed to mention that his business can in many ways be seen as being in direct competition with their own business model, namely that of manual and middle-man-laden banking. In any case, for all intents and purposes, Bitcoin transactions are far easier to track than bank notes.
[1]: https://www.forbes.com/sites/andygreenberg/2010/12/07/visa-m...
[2]: Norwegian language article: https://e24.no/naeringsliv/i/oRgdW0/dn-bitcoin-toppen-tapte-...