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What I prefer about cash is that it enforces a different attitude towards money. If you have a pile of notes or coins and watch them diminish, it definitely ch
by hakfoo 3y ago
What I prefer about cash is that it enforces a different attitude towards money. If you have a pile of notes or coins and watch them diminish, it definitely changes your attitude towards spending versus "present a card, and at the end of the month, you'll get a statement." Yeah, online banking and notifications get your finger closer to the pulse of your financial state, but it's hardly the same experience as "there are no more notes, spending must stop now."
Ironically, I'd be more comfortable with digital payments if they were implemented through the state than the current private-sector plays. The government has obligations to service all legal customers, so there's limited wiggle room for them to deplatform. Meanwhile, private banks and card networks can be bullied into making some industries off-limits.