471–480 of 508 posts
Almost every comment is about politics, choice, privacy, rights, markets and percentages. There's a completely different take; Civic resilience From an operational and strategic security POV, cash is a vastly superior technology. It doesn't need electricity, a network of cables, satellites and routers. Therefore cash in circulation acts as a buffer that provides economic stability and continuity of operations. Also,…
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How would that have been different had shops and local merchants been forced to accept cash?
The government can't just take away all your cash on a whim without any notice. That's why, I guess, some people prefer cash. If you want to use cash, you want local shops to accept cash. Personally, I'm OK with being cashless.
The goal was to "make illegal money" (i.e. tax evasion / sourced from corruption) useless.
https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis...
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This is akin to saying that if there were sufficient demand for free speech rights, privacy, or the abolition of slavery, markets would provide for those things - and that their removal is simply an economic function. Like, if enough people want handjobs from non-sex-trafficked sex workers, surely some massage parlors will open to cater to ethical customers, right? Markets do not guarantee civil rights, and they shou…
That’s a lot of words built on top of a rather flimsy assertion that using cash is a civil rights issue, which I don’t think any court has actually ruled on. It seems like a right that people have invented from thin air. The answer to people being unbanked is to make banking easier and less discriminatory. Not to force everybody to accept cash.
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Glad to hear it.
Yes, let’s cheer on the precedent of unelected bureaucrats exerting control over things we don’t like. That precedent will surely never come back to affect something that we do like
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> They just don't have change for a $20. Malicious compliance is fun. Besides, having to have change is the really big cost of cash handling. Almost all your customers come in with big notes from an ATM and leave with smaller notes or coins, so you have to keep getting change from the bank. Just rebrand "not giving change" as "mandatory tipping" and it's even a pro-worker move!
> Just rebrand "not giving change" as "mandatory tipping" and it's even a pro-worker move! rounding-up to avoid handling change is the norm when paying cash in "tippable" situations like at restaurants or farmer's markets.
leave it here!
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cashless has a lot of negative externalities hence a business should have a _very good_ reason to not accept the legal tender.
What if I told you that outside of the US we're seeing tax offices progressively refusing cash payments and/or putting a penalty with a maximum accepted amount for people who still try to bring cash ? Forcing all businesses to follow a model that is already getting phased out doesn't make sense.
tax office has very little similarity with a retail store, idk what you are advocating here.
What I particularly like about this is how it goes directly against the conspiracy theories.
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> The difference here is the government wants to impose cost on businesses to solve problems it should be solving. Handling cash has been an accepted cost of business for over a century, but now it’s somehow an undue burden to continue doing so? Hogwash. > It could solve them by issuing every homeless person with a credit card that gets topped up by X a month. That sounds like a solution in search of a problem. Good…
> Handling cash has been an accepted cost of business for over a century, but now it’s somehow an undue burden to continue doing so? Hogwash. Handling cash is a big cost. You have to store it, get it moved in and out, stop people stealing it, be insured against people stealing it, count it, make sure you have change available, etc etc. Yes people did it, and cash used to get stolen more. More importantly, this isn't…
Why should the government be responsible for building out an incredible infrastructure project so that some businesses don't have to worry about handling cash? Cash is not a new concept, we've been using it since the inception of the nation. Suddenly some businesses find a way to save a buck by not handling it, but this also happens to segregate a portion of Americans, but oh well that's not their fault, if the government doesn't like businesses doing segregation, the government can just become a bank? And issues cards?
Nah. In the USA if you want to do business you need to manage and handle cash. That's a perfectly reasonable expectation. Cost of doing business.
You also have to track your revenue and file taxes. That's perfectly reasonable as well, right? Or should the government be responsible for auditing every single company and managing their finances to determine how much tax is owed? I mean it would save the company money, right?
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Have you never walked into a store and they said you can't use a CC because their reader is down? It is nice to have a few dollars in your pocket for times like that.
I dont think I have ever encountered this in my adult life honestly. A more common occasion is encountering a business that is cash only (usually small market stalls) and is infinitely more annoying as I have to go and take out a amount of money greater than the product I want to buy, leaving me with a rather annoying amount of loose change.
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Both my credit and debit cards are instant prints that don't have the embossing those require. Running the old carbon copier over them wouldn't show anything except maybe a vague outline of my credit card.
Apple Card doesn't even have a number printed on it (because you can request a new # ad hoc, via the app), let alone embossed. Just my name, and (without walking to get the physical card) Apple logo, and I think a Goldman-Sachs logo. If the power goes out, the card's only utility would be if you need a thin piece of titanium for your McGyvering.
Weirdly enough, replacing my Chase debit card is so much easier with an Apple Wallet because it instantly gets a new card number while I wait three or four days for a card to show up in the mail. I can tap to pay in the interim and it's so much less of a pain in the ass in the interim.