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People don't specifically care about the government when they accept cash. It's fungible, they just accept and pass it along. The US government has control of
by nextaccountic 5y ago
People don't specifically care about the government when they accept cash. It's fungible, they just accept and pass it along.
The US government has control of the monetary policy (and can thus tank the currency if they wish) but it has no control on how you spend a specific bill you carry.
- shapefrog 5y agoAnd the reason it is fungible is that it has the backing of the US Government, US Treasury and Federal Reserve. People might not 'care' about the govenement when they use cash, but try and pay with something that doesnt have some backing - say for example small rocks. They too are fungible, you can buy bags of them at any good hardware store. They are decentralised, trustless, effectively untraceable and could in theory be exchanged for goods and services, if both parties were willing.