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How is this different to cash? Of course there's no difference in regard to the risk of getting physically lost. I was referring risk of carrying a single val

How is this different to cash? Of course there's no difference in regard to the risk of getting physically lost. I was referring risk of carrying a single value store (independent of type). I also have Apple pay on my phone and watch. Not sure how that's less cognitive overhead than a physical wallet, but as you like. From a business point of view, cash-only makes zero sense. Why would a business turn away people who want to give them money? Margins are thin. Apparently the overhead is significant for some merchants. Such that in my part of the planet, it's not uncommon for street merchants (and small shops) to only take card payments above a certain minimum amount. Oh, and some work under the table. Cash lets them do that. Meanwhile, the card-only places turn away customers all the time. If you're from a country where any of these are legitimate concerns for you, it doesn't mean cashless is bad - it means the systems are bad. Mmm - from first principles, and given that one system is orders of magnitude more complex (and subject to far many more points of failure) than the other - is may very well be an intrinsic liability of that system.

seanmcdirmid 3y ago
Cash only places probably turn away more customers than card only places these days. People just like the convenience, and cash is on its way out.
- lisasays 3y ago
  Whether cash is on it's way "out" (as opposed to contracting a bit and settling to a certain niche level) is -- as the article indicates -- far from an obvious, final matter. And in my view quite doubtful in fact. Either way - do as you like, and nice chatting.
- tekknik 3y ago
  > People just like the convenience, and cash is on its way out. My favorite question that many of the people on this site love to ignore, what about natural disasters? Do you believe CC terminals still work when the rest of the infrastructure has failed? Cash is far from on the way out, you’re being naive.
  - seanmcdirmid 3y ago
    Sure, natural disaster occurs, then...maybe I have more things to worry about then having cash? If the POS is down at the store, the cell phone networks are surely down (since many POS these days are just cellphones attached to Stripe or similar), and I'm guessing your saying FEMA help won't come very soon, it will be everyone for themselves in the city? At least I won't be the only one suffering in such a DOOM scenario. I also don't live in a place where natural disasters (like hurricanes) are very common. I imagine people in Florida or coastal Texas would have a very different view on things.
    - lisasays 3y ago
      But with cash you can at least, you know, go down to the corner store and buy yourself a bottle of water. And maybe even something to eat.
    - deleted 3y ago
      [deleted]
    - tekknik 3y ago
      > If the POS is down at the store, the cell phone networks are surely down (since many POS these days are just cellphones attached to Stripe or similar) People have calculators that tend to work and be accurate outside a POS. Many people can do basic math and add tax, and you hand them cash. Is this hard to believe? It comes from an era where a POS didn’t exist. > I'm guessing your saying FEMA help won't come very soon FEMA, National Guard, etc, stand up critical infrastructure first. This means hospitals, not storefronts. They also only bring in limited food. They feed some, no where near all. > come very soon, it will be everyone for themselves in the city hardly, for one National Guard is patrolling. You’re purposely being reductive here. > I also don't live in a place where natural disasters (like hurricanes) are very common. I imagine people in Florida or coastal Texas would have a very different view on things. So you, knowing you lack experience, blatantly state cash is on the way out when you now state there are some uses? What is your point exactly? Because a few people don’t need cash in the US clearly nobody needs it?

seanmcdirmid 3y ago

Cash only places probably turn away more customers than card only places these days. People just like the convenience, and cash is on its way out.

lisasays 3y ago
Whether cash is on it's way "out" (as opposed to contracting a bit and settling to a certain niche level) is -- as the article indicates -- far from an obvious, final matter. And in my view quite doubtful in fact. Either way - do as you like, and nice chatting.
tekknik 3y ago
> People just like the convenience, and cash is on its way out. My favorite question that many of the people on this site love to ignore, what about natural disasters? Do you believe CC terminals still work when the rest of the infrastructure has failed? Cash is far from on the way out, you’re being naive.
- seanmcdirmid 3y ago
  Sure, natural disaster occurs, then...maybe I have more things to worry about then having cash? If the POS is down at the store, the cell phone networks are surely down (since many POS these days are just cellphones attached to Stripe or similar), and I'm guessing your saying FEMA help won't come very soon, it will be everyone for themselves in the city? At least I won't be the only one suffering in such a DOOM scenario. I also don't live in a place where natural disasters (like hurricanes) are very common. I imagine people in Florida or coastal Texas would have a very different view on things.
  - lisasays 3y ago
    But with cash you can at least, you know, go down to the corner store and buy yourself a bottle of water. And maybe even something to eat.
  - deleted 3y ago
    [deleted]
  - tekknik 3y ago
    > If the POS is down at the store, the cell phone networks are surely down (since many POS these days are just cellphones attached to Stripe or similar) People have calculators that tend to work and be accurate outside a POS. Many people can do basic math and add tax, and you hand them cash. Is this hard to believe? It comes from an era where a POS didn’t exist. > I'm guessing your saying FEMA help won't come very soon FEMA, National Guard, etc, stand up critical infrastructure first. This means hospitals, not storefronts. They also only bring in limited food. They feed some, no where near all. > come very soon, it will be everyone for themselves in the city hardly, for one National Guard is patrolling. You’re purposely being reductive here. > I also don't live in a place where natural disasters (like hurricanes) are very common. I imagine people in Florida or coastal Texas would have a very different view on things. So you, knowing you lack experience, blatantly state cash is on the way out when you now state there are some uses? What is your point exactly? Because a few people don’t need cash in the US clearly nobody needs it?