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>Without cash, we give way too much power to entities managing the payment systems. Card companies don't like you ? You can't pay or take money anymore. That ha
by ThrowawayIP 9y ago
>Without cash, we give way too much power to entities managing the payment systems. Card companies don't like you ? You can't pay or take money anymore. That happened with wikileak, remember ? It was not illegal in my country, but VISA and paypal sure prevented me to make a donation to them. They stopped me to use my money in a legal way because they didn't like it. This is such a slippery slope.
Also, payment processors are not legally required to issue cards to everyone who asks. This adds yet another burden to those who are already poor/un-banked/un-documented.
- sametmax 9y agoAnd all cards are not created equals. They are literally tokens of how private companies see you. When I started being a consultant, I had suddenly very low and very large ups and downs on my bank account. It was very irregular and my bank decided I was not to be trusted anymore and switched my regular card for a toy one. I could not even pay tolls and parking with it, and was caped to 500$ I could pay with for a month. In that case, having cash is the only reason you can keep living like you used too. Also I switched bank.