How about handling a large transaction without internet access? Say you want to transact in the middle of space. What now? Wait until you get back to some connection? As silly as it sounds, this system is not scalable.
The fact that it does not scale into a far far future where more than 0.00000000125% of the humans is in orbit/space does not mean that it is not a good system for today & the upcoming decades.
Sure, by todays standards. Let’s see how well your comment ages with at least 3 different companies pursuing consumer space travel.
Maybe in Norway, but there absolutely is no pin check when making large purchases through at least Apple Card via Apple Pay. I made a $9800 US purchase a few months back and it was just face ID, which apparently can be fooled easily.
Fooled easily? This is news to me. The YouTube videos that I have seen are elaborate. And no way you can do this at a store!
Maybe I shouldn’t have used the word easily. It can be spoofed, maybe not easily. And people buy things at more than a store, like online, and phones verify those purchases just the same.
You'll be downvoted, but to answer this question with all honesty: 1) Disallowing a third-party in every single transaction you make, especially as 1a) Inflation means 3k now might be quite low in 20 years 1b) Banks themselves have been shown to be scummy 1c) Banks are a rare institution to allow outsiders into. 2) Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineli…
> Cash is the only fiat currency that actually exists There's also money orders.
No there isn't. At least not in the European country I live in.
Very sad news. Digital faschism is coming. I always withdraw money and use cash to pay wherever possible. I used to do the opposite throughout mthe most of my life until I understood what's that all about and what are we coming to. Coincidentally or not I have switched soon after watching the Black Mirror TV show :-) (I wouldn't say it was the only and direct influence - I thought about this subject before and after…
> I have switched soon after watching the Black Mirror TV show Any particular episode?
No, just watched all of them and took time to digest. By the way I would assume the very first episode probably is or was the most misunderstood but now I understand: attacks like depicted there are going to be 100% automated soon (if not already). Data gets collected, an AI automatically looks for vulnerable servers, steals the data, builds a victim profile, calls them from whatever a phone number (this has always been easy) with whatever a voice, tells them whatever optimal to manipulate them into whatever thing optimal to achieve a desired outcome (make them pay money, disclose a secret about someone or perform an act which will leads to desired impact on the society/economy).
> Yes, but you don’t need a bill for that, you can just get it from the municipality where you are registered. You can't "just" get it if you don't have a fixed address, or if the address isn't eligible for registration (the rules for that are rather strict). Netherlands is one if the hardest countries if you end up in an "exceptional" situation; you can work around "proof of address" (not always, but frequently), bu…
What makes your situation exceptional?
I returned to Netherlands after many years abroad and didn't have anything set up except a tax number (BSN) like everyone. This may not sound too bad, but:
- Few people are willing to rent to you if you don't have a Dutch bank account and current registration.
- You can't get registration without a place to rent that qualifies (and many places don't).
I was earning €90k/year at the time; it wasn't a money issue.
I wonder about the numbers: are cash payments a major enabler in imoral activity?
I guess they can make it slightly more difficult for a drug dealer to buy a car or house, but my intuition is that corruption and money laundering deal with much higher numbers and can go around it.
Not that fighting 1 bad thing is wrong, but considering disadvantagedssuch as loss of privacy and (even) more reliance on banks, we must balance the pros and cons.
in italy is 1,000EUR for a while, similar in other EU countries with varying thresholds. I personally prefer how the UK does it or other countries where private individuals have no limit but if you have a commercial activity you must have some regulation in place > The consumers can make cash payments without any limits. > The traders, however, need to register themselves with tax authorities as 'High Value Dealers'…
>in italy is 1,000EUR for a while No, it is 5,000 in 2023 and never was 1,000: https://news.ycombinator.com/item?id=37236767
Was 1,000EUR in 2022 I keep forgetting as they keep changing it almost every year
I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR?
You'll be downvoted, but to answer this question with all honesty: 1) Disallowing a third-party in every single transaction you make, especially as 1a) Inflation means 3k now might be quite low in 20 years 1b) Banks themselves have been shown to be scummy 1c) Banks are a rare institution to allow outsiders into. 2) Bank accounts themselves are not actually all that accessible; it's quite common for people to be ineli…
> I live in Sweden and we're very far down the path of "cash is dead" - there's a considerable number of stores and fast food joints that do not even accept cash. However, when I moved to this country I couldn't open a bank account and without people accepting cash at that time I would have paid exorbitant fees on each transaction.
I came here to say something similar. We moved to the Netherlands in 2014 from the US and it was three or four months before our immigration stuff was far enough along that we could open a local bank account with an IBAN and get a chip and pin card (at the time, virtually no US banks would give you chip and pin cards). My partner couldn't even get paid during that time until she had a bank account. We lived off withdrawing cash from my US account at ATMs. That included paying our rent (we were lucky that our landlord, who lived in a different city, was OK with us just paying cash to their relative who lived nearby).