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Superficial and ignorant. Need journalists who don’t just repeat press releases with clearly labeling as such. > With a digital dollar, you could in theory eli
by quantified 5y ago
Superficial and ignorant. Need journalists who don’t just repeat press releases with clearly labeling as such.
> With a digital dollar, you could in theory eliminate those middlemen. If you wanted to buy a sandwich, for instance, you could transfer money from a digital wallet directly to a cashier.
Cash has no ?middleman. You trade one set for… how direct is the transfer? Who is extracting the money from your account, depositing into theirs?
Can you invest them and get returns? Put them in the bank and get returns?
- gorbypark 5y agoCash actually has a ton of middlemen, if you consider the lifecycle of most cash. From printing it, transporting it, counting it, etc. I bet each $20 bill is handled dozens of times in it’s lifespan by a person who is not the owner of it (think bank tellers, cashiers, armoured car drivers, the people that load ATMs, etc).
- quantified 5y agoThere are participants. Question of how you define “middle” and in between whom. When you pay the deliveryperson, florist, kid who shoveled your driveway in cash, there are zero participants between you and that person. How you got that cash depends on a physical supply chain. Generally, going to an ATM is pretty easy. Our payment system is currently the worst of both: only electrons and magnetic regions, but lots of them in the way siphoning off their cut.