Earlier quoted context omitted.
Any proposal that requires companies to ignore signs of fraud is Dead-On-Arrival.
I literally said 'lawful' transactions. Fraud is not lawful.
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Pro-cash movement warns that people could be losing more than they bargained for
171–180 of 717 posts
Re: Pro-cash movement warns that people could be losing more than they bargained for
#172Earlier quoted context omitted.
> Is it mostly crime related shenanigans? Not having to carry a wallet anymore. Never going to the ATM. No need to pocket loose change. Quicker checkout times.
Are these really inconveniences? Most of the times I've had trouble paying for stuff were usually at supermarkets or gas stations where the credit card reader would refuse to acknowledge my card. Swiping/inserting/touching, not even cursing worked so without cash on hand I'd have had to surrender my ID to the clerk, take a cab to the closest ATM and return with cash.
I don’t use my physical credit card much anymore. Just my watch which is connected to ApplePay which is linked to a credit card.
Those problems do exist, I usually just go somewhere else if their card/payment reader is down.
Re: Pro-cash movement warns that people could be losing more than they bargained for
#173We already have a cashless society, effectively. Let's say 1% of transactions worldwide are done with cash. Is that 1% really holding back all of these bad things that pro-cash folks imagine?
Re: Pro-cash movement warns that people could be losing more than they bargained for
#174Earlier quoted context omitted.
I would go further and remove the "lawful" from that. If you pay me $50 it shouldn't matter to the payment processor whether I gave you a painting or a blow job in return.
How would you handle chargeback claims? Should all users of the system share in the fraud risk?
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Re: Pro-cash movement warns that people could be losing more than they bargained for
#175Earlier quoted context omitted.
> Is it mostly crime related shenanigans? Not having to carry a wallet anymore. Never going to the ATM. No need to pocket loose change. Quicker checkout times.
Points or rebates too.
In my case, that wasn’t a point at all. The added security of CC is also useful, but I would have gone cashless even if it was just debit.
Re: Pro-cash movement warns that people could be losing more than they bargained for
#176Earlier quoted context omitted.
Crypto fixes this to some extent, but would require a chain that could handle a large volume of small transactions.
Visa alone processes 100,000,000 transactions per day. All of them with "purchase protection". ie, there's reversibility for fraud via charge-backs, etc. We live in the real world where people make mistakes and need some help to fix it. This is why "crypto", as it is, will _never_ be a reasonable alternative.
Maybe, but it's good to have multiple options.
Re: Pro-cash movement warns that people could be losing more than they bargained for
#177My concerns about a cashless society are the power it hands to a few oligopolistic credit card processors. Look at what happened to Pornhub. Regardless of whether you think Pornhub was in the wrong, it is striking that a business was cut off from global financial system by a small number of credit card companies. This was done without due process and under no countries laws. That should scare us at least a little.
How could a website function with cash payments at all?
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Re: Pro-cash movement warns that people could be losing more than they bargained for
#178The primary benefit of cashless is pretty much just the ability to be lazy. You swipe a card in a reader instead of having to count out cash. That's the major benefit. All things being equal, sure, it's more convenient. But all things are not equal; in my opinion the potential negatives that others in the thread have listed overwhelmingly outweigh the ability to be more lazy. That so many people have the desire to di…
> The primary benefit of cashless is pretty much just the ability to be lazy. By this logic, the primary benefit of just about every technological development in human history is the ability to be lazy. The wheel is just a crutch for those too lazy to drag their loads on sleds. The downsides of a cashless marketplace are indisputable, but “laziness” is a reductive view of the upsides.
Using your example, the wheel allows us to perform more work per unit of time. I think it would be good for discourse to identify that within society there is the general consumer public and then there is education, government, research, etc. Could you argue that the wheel allows an individual to be lazy? Definitely. Is it correct to argue that a wheel is a crutch and makes every individual that uses it lazy? Definitely not.
Re: Pro-cash movement warns that people could be losing more than they bargained for
#179Earlier quoted context omitted.
Mullvad have made it work, but it’s definitely not smooth. I believe their process is to assign a unique ID to your invoice, which you can then write on an envelope stuffed with cash you mail to the correct address. On receipt they match your cash with the invoice and mark it as paid.
This might work but sending cash in the mail is a pretty terrible idea. Most postal services strongly discourage it, or you're using recorded services which are expensive and add all the same tracking issues.
Registered mail is insured up to $50,000
https://faq.usps.com/s/article/What-are-the-Limits-for-Insur...
Re: Pro-cash movement warns that people could be losing more than they bargained for
#180My concerns about a cashless society are the power it hands to a few oligopolistic credit card processors. Look at what happened to Pornhub. Regardless of whether you think Pornhub was in the wrong, it is striking that a business was cut off from global financial system by a small number of credit card companies. This was done without due process and under no countries laws. That should scare us at least a little.
How could a website function with cash payments at all?
When ebay was new I bought loads of stuff using postal orders, which aren't far from cash.
Hell, people would buy things from me and just post cash in an envelope.