3 ms·
Cash is grandfathered but (in the US) it's really essential for some old people who don't use tech, homeless people, anti-government survivalists, and "mark of
by wmf 2y ago
Cash is grandfathered but (in the US) it's really essential for some old people who don't use tech, homeless people, anti-government survivalists, and "mark of the beast" conspiracy theorists. (A similar constituency is blocking federal IDs and digital IDs.) You wouldn't think that's a powerful bloc but apparently it is.
- weitendorf 2y agoThat is fair and I thought of that “old people might legitimately need it” case too when writing my other comment. But even that might only be the case for another 10-20 years. I would actually be surprised if homeless people remain cashless for much longer, if a substantial number are even cashless now. I am pretty sure even people without permanent addresses can open bank accounts and almost every homeless person in the US has a smartphone. Any homeless people not being directly handed cash or working under the table/doing low-level crime would probably have no reason to use cash. Over time, they probably will not be directly handed cash as much because I don’t think most people will keep carry cash if their only use for it is to give it to beggars. The other use cases you mentioned are definitely pro-privacy but clearly those blocks are not influential or powerful enough to get governments to allow for private digital transactions. Time will tell but I think it’s really only old people who’d struggle to adapt that are keeping us on cash.
- wmf 2y agoYeah, I'm inclined to agree with this. The fact that Sweden, Japan, and China went 99% cashless shows that it can be done. BTW there's a new scam where a homeless person asks for a small donation via EMV but they charge thousands of dollars and then when you chargeback the card issuer asks for your receipt which of course the homeless person didn't give you.
- mixmastamyk 2y agoJapan did not, a few things even require it.
- umeshunni 2y agoMaybe India more than Japan
- ty6853 2y agoYou generally cannot open a bank account without address. It is trivial for criminals to do with darks. Last time I was between addresses no one would open me an account even with a US passport as it failed kyc with no address. KYC does fuck all to curb crime and mainly used as a tax dragnet and control mechanism for the mostly honest.
- pests 2y agoA lot of drugs are cash only. Even marijuana in legal states like Michigan.
- zzo38computer 2y agoIt is not just for old people, homeless people, etc. I do not have a credit card or a smartphone and I always pay in cash.
- wmf 2y agoYou're a survivalist (whether you admit it or not).