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For this critique to be meaningful, it should compare vs. alternative approaches of storing and transferring value - including cash, which can’t possibly be env
by kaonwarb 6y ago
For this critique to be meaningful, it should compare vs. alternative approaches of storing and transferring value - including cash, which can’t possibly be environmentally friendly. Not just in production, but storage, transfer (I wonder what the MPG is on those Brinks trucks), and so forth.
I suspect Bitcoin still comes out behind, but at least it would be a meaningful comparison.
- grumple 6y ago"Cash" is usually just 1s and 0s these days, at least in the US, isn't it? It doesn't require mining, unlike bitcoin.
- chordalkeyboard 6y agoNo, we use physical money all the time.
- mrits 6y agoWhat do you use physical money for?
- ChuckNorris89 6y agoIn my area of Europe: Buying things at stores and shops that don't take card payments for one. Buying weed for another. Buying/selling small things in person, think garage sales, or even buying second hand cars.
- ur-whale 6y agoCan't buy a car in many European countries with cash these days. The iron grip of the governments there is getting a lot tighter.
- lottin 6y agoIn which ones?
- ur-whale 6y agoItaly, France for example where there is a cap on how large a cash transaction can be. Here's a list: https://www.europe-consommateurs.eu/en/shopping-internet/cash-payment-limitations.html https://www.europe-consommateurs.eu/en/shopping-internet/cas... [EDIT]: I should have been more precise: you can't buy a new car in those countries. You can still probably buy a used car with 10k euro if the transaction is conducted between private persons. But then: the seller will be left holding 10K euros in cash, which he is likely going to want to deposit into a bank and run into complications.
- lottin 6y agoFair enough, thanks.
- chordalkeyboard 6y agoMaking purchases and settling debts.
- Retric 6y agoA Brink's truck at maximum capacity can move 600 million dollars. That’s unusual, but filling up several ATM’s can quickly get into the low millions. Most cash transactions are low value by comparison, as the energy cost of cash in your wallet is infinitesimal. It’s the daily or weekly drop of merchants taking cash to their bank which is the main environmental cost of cash but again that’s often thousands of individual transactions. Further those banks tend to be close to the stores and use much of it to fill local ATM’s etc. For large transactions like paying a mortgage it’s all electronic and very energy efficient.