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I agree with your first three points but the last ones are not true. Case doesn’t have payments fees but it gets mishandled. You give away too much or a custom

I agree with your first three points but the last ones are not true. Case doesn’t have payments fees but it gets mishandled. You give away too much or a customer said I gave you 50, not 20, etc. Furthermore, unless you are a small business, cash needs to be handled and brought to a bank. That costs a lot of money. You have to pay an armed vehicle with a private security company to get to your store and drive it to the bank. You also have to have cash reserves at your store which can be stolen, etc. those are all cash “fees”. Cash requires power to “create”. You can’t just create it by changing some bytes. They need to be replaced every 5 years or so. And with all the chemicals used to make it secure, it wouldn’t surprise me if it was worst for the environment. Unfortunately I couldn’t find any sources to confirm or deny that, so that is only my speculation. Your other points are valid and the only advantage card payments have is that they can be analyzed (which is good if you do that but bad if someone else does it to sell you something) and that you can’t lose it (you only have to pay a small fee to get a new card if you lose it).

CaptainZapp 8y ago
"Cash requires power to “create”. You can’t just create it by changing some bytes." Compared to the power utilization of some crypto currencies I'd argue that this is negligible.
- Matt3o12_ 8y ago
  We are not talking about crypto currencies. We are talking about visa and MasterCard which use a centralized network to process those payments. That is as cheap as it can get. The power requirements for crypto currencies are the main reason I oppose them. They are a great idea but useless because mining and verifying transactions puts such a strain on our environment that I couldn’t justify the advantages for everyday use. And a crypto currency with doesn’t require a lot of power kind of misses the point.
kuschku 8y ago
A study by Steinbeis, funded by the German Central Bank, discovered that the transportation and production costs of cash are equivalent to around a fee of 0.2% For comparison, the German EC card system has fees of 0.125%, and most credit cards had fees of around 2-3% (VISA, MasterCard) or even in some situations up to 7% (AMEX, certain goods). This combined with credit cards banning users and merchants for sellibg goods based on their own discretion (see the trouble the Rossmann group had selling Cuban goods in their German stores) should explain by VISA and MasterCard have to be eradicated.
- Matt3o12_ 8y ago
  Thank you, I had somewhat around .2% in mind but I wasn’t too sure. Obviously that depends a lot. For a small business (a one or two person shop), those fees can be essentially 0 because they can just bring it to the bank themselves. I an area with a lot of tourists, the cost can be a lot high due to a high amount of thieves. When I was in Amsterdam there were signs at tourist location to leave cash at the hotel and only use cards because of the high risk of theft. 2-3% fees for credit cards are common in the US if I remember correctly, but the EU has capped the fees to .3% for credit cards and .2% for debit cards. My point was just that cash isn’t free. It’s not that much more then a card.

CaptainZapp 8y ago

"Cash requires power to “create”. You can’t just create it by changing some bytes." Compared to the power utilization of some crypto currencies I'd argue that this is negligible.

Matt3o12_ 8y ago
We are not talking about crypto currencies. We are talking about visa and MasterCard which use a centralized network to process those payments. That is as cheap as it can get. The power requirements for crypto currencies are the main reason I oppose them. They are a great idea but useless because mining and verifying transactions puts such a strain on our environment that I couldn’t justify the advantages for everyday use. And a crypto currency with doesn’t require a lot of power kind of misses the point.

kuschku 8y ago

A study by Steinbeis, funded by the German Central Bank, discovered that the transportation and production costs of cash are equivalent to around a fee of 0.2% For comparison, the German EC card system has fees of 0.125%, and most credit cards had fees of around 2-3% (VISA, MasterCard) or even in some situations up to 7% (AMEX, certain goods). This combined with credit cards banning users and merchants for sellibg goods based on their own discretion (see the trouble the Rossmann group had selling Cuban goods in their German stores) should explain by VISA and MasterCard have to be eradicated.

Matt3o12_ 8y ago
Thank you, I had somewhat around .2% in mind but I wasn’t too sure. Obviously that depends a lot. For a small business (a one or two person shop), those fees can be essentially 0 because they can just bring it to the bank themselves. I an area with a lot of tourists, the cost can be a lot high due to a high amount of thieves. When I was in Amsterdam there were signs at tourist location to leave cash at the hotel and only use cards because of the high risk of theft. 2-3% fees for credit cards are common in the US if I remember correctly, but the EU has capped the fees to .3% for credit cards and .2% for debit cards. My point was just that cash isn’t free. It’s not that much more then a card.