2 ms·

On a personal level, this is why I always have a bit of cash on me. I have a couple of notes in my wallet, and one off those cash capsules on my key ring. I can

On a personal level, this is why I always have a bit of cash on me. I have a couple of notes in my wallet, and one off those cash capsules on my key ring. I can and do pay using my phone but I always have real cards with me. I probably sound a bit paranoid to some people, but I’ve had enough situations where somewhere couldn’t or didn’t take card, or my phone was low on power that it just seems sensible to have backups.

Melting_Harps 4y ago
> I probably sound a bit paranoid to some people, but I’ve had enough situations where somewhere couldn’t or didn’t take card, or my phone was low on power that it just seems sensible to have backups. It's not paranoid at all, it's just an understanding of the situation better than most; I do fintech and I'm still a proponent of cash for the reasons alluded to in this article and your response are just sound preventive measures. People like to think everything works under ideal conditions so longs as things will remain as such there is no reason to not prune back-up systems. This is a very common mistake. To take it further I think that cash itself will always have (some) value in Society, their is a reason the USD/EUR fills the gap between collapsing economies. It's a trust based system, and I have many critiques about it, but one cannot dispute it on sheer utilitarian terms. My thoughts on this could be a series of essays, but the short answer is that countries that eliminate currency are setting themselves up for failures, just look at how common downtime/outages is for most used platforms and how prevalent hacks are from some of the biggest retailers. We suck at security, and are even worse at it at scale: forgery is a thing, but it's minuscule when taken into account of the totality of economic activity it produces.

2 ms·

On a personal level, this is why I always have a bit of cash on me. I have a couple of notes in my wallet, and one off those cash capsules on my key ring. I can

by noneeeed 4y ago

Melting_Harps 4y ago
> I probably sound a bit paranoid to some people, but I’ve had enough situations where somewhere couldn’t or didn’t take card, or my phone was low on power that it just seems sensible to have backups. It's not paranoid at all, it's just an understanding of the situation better than most; I do fintech and I'm still a proponent of cash for the reasons alluded to in this article and your response are just sound preventive measures. People like to think everything works under ideal conditions so longs as things will remain as such there is no reason to not prune back-up systems. This is a very common mistake. To take it further I think that cash itself will always have (some) value in Society, their is a reason the USD/EUR fills the gap between collapsing economies. It's a trust based system, and I have many critiques about it, but one cannot dispute it on sheer utilitarian terms. My thoughts on this could be a series of essays, but the short answer is that countries that eliminate currency are setting themselves up for failures, just look at how common downtime/outages is for most used platforms and how prevalent hacks are from some of the biggest retailers. We suck at security, and are even worse at it at scale: forgery is a thing, but it's minuscule when taken into account of the totality of economic activity it produces.