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Cashless, lessee: - barter economy when the power or network or website goes down. - all transactions tracked. - can have your money disabled by a 3rd party.
by jleyank 4y ago
Cashless, lessee:
- barter economy when the power or network or website goes down.
- all transactions tracked.
- can have your money disabled by a 3rd party.
- transaction fees, particularly when traveling internationally.
- magnetic fields suck. Plastic gets brittle.
- TEP_Kim_Il_Sung 4y agoEverything that was bad about Corporate Scrip, is bad about cashless.
- anonporridge 4y agoCash is just nation state scrip. And the nation state is just the corporation with the local monopoly on violence.
- deleted 4y ago[deleted]
- MikusR 4y agoMoney is made from plastic
- DerekL 4y ago> - magnetic fields suck. Plastic gets brittle. The chips in credit cards aren't damaged by magnetic fields. Mag stripes will eventually be discontinued. (For instance, cards from Mastercard won't have mag stripes after 2033.)
- pb7 4y agoCash can get lost, stolen, or damaged. It is especially a risk when you’re bringing a bunch of cash for an international trip. > transaction fees, particularly when traveling internationally Many banks offer no international transaction fee cards. Charles Schwab Checking is one such example. > magnetic fields suck. Plastic gets brittle Cash is filthy disgusting and deteriorates. Also risk of receiving counterfeit bills.
- mdp2021 4y agoDetails. "Cash-less" society means loss of anonymity. The matter is not with options, but with lack of options.
- imtringued 4y agoI know someone who lost a lot of money because he kept it in cash.
- influxmoment 4y agoHappen to HK protesters. Antigovt democracy protests can be tracked participating in protests through credit card use
- scarface74 4y agoCash based: robberies
- LinuxBender 4y agoAdding to this: - As more banks participate in ESG and experiment with what they can get away with, people may lose access to their funds if they hold the wrong beliefs or lack good social credit score. This is already in place in China and all the big banks are looking at dipping their toes into this game. PayPal already experimented with this and back-peddled when their stock dipped as a result. A few dozen big banks in the US are now participating in ESG. Only time will tell what they dare to implement.
- Ruthalas 4y agoWhat is 'ESG' in this context?
- klyrs 4y ago"Discriminating" against the oil industry
- junofan 4y agoStrangely the oil industry is doing great. And their ESG metrics look great, too.
- deleted 4y ago[deleted]
- MichaelCollins 4y agoThey love it. To oil companies, ESG offers a way to offset their environmental crimes using cheap social activism.
- deleted 4y ago[deleted]
- LinuxBender 4y agoESG's are environmental, social, and governance metrics. It is a method of altering the behavior of businesses and individuals through incentives or in some cases disincentives. Rather than altering group and individual behavior through legislation, banks and financial institutions can alter the behavior of businesses and people using a social credit score. The legislators of my state and several other states are actively fighting banks that exhibit this behavior. None of the small banks I interact with will ever participate in that concept. [1] - https://www.heartland.org/publications-resources/publications/financial-institutions-are-expanding-esg-social-credit-scores-to-target-individuals-small-businesses https://www.heartland.org/publications-resources/publication...