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And yet HN people in general don't hate on cash. The sentiment is usually against regulating cash transactions.
by yreg 3y ago
And yet HN people in general don't hate on cash. The sentiment is usually against regulating cash transactions.
- JumpCrisscross 3y ago> yet HN people in general don't hate on cash Cash is more dominant than crypto, and while lower incomes are also over represented among its most-frequent users, it doesn’t show as much of a spike among specific generations [1]. People advocating cash use aren’t preying on anyone to get rich. There is no inherent gambling feature built into it. And it’s obviously used in a lot of legitimate circumstances for legitimate reasons. [1] https://www.pewresearch.org/short-reads/2022/10/05/more-americans-are-joining-the-cashless-economy/ https://www.pewresearch.org/short-reads/2022/10/05/more-amer...
- neglesaks 3y ago1) cash has an anti-gambling function inherent to it these days aka inflation. Unfortunately, this affects the investing decisions of millions of people rather than a few thousand hopeful & unsophisticated would-be investors in bitcoin et al. 2) cash has a multi-century head start from the entire cryptocurrency milieu, which has barely stepped out of the cradle. 3) Central banks and nations extract Seignorage from fiat currencies which has a recurring history of preying on the population of entire nations to keep incompetent and/or corrupt administrations and their adjacent buddies (the 0,01%) afloat, or in practice in say the USA, major corporate banks that control most of the day to day flows.