3 ms·
> So we need to ensure we keep cash available The problem with that is there are a number of ways to prevent you from holding cash as well. Bank regulations ar
by darth_avocado 1y ago
> So we need to ensure we keep cash available
The problem with that is there are a number of ways to prevent you from holding cash as well. Bank regulations around how much money you can withdraw/access, scrutiny around how much money you can carry to an airport, asset forfeiture without due process etc. all allow governments to coerce you into whatever they want. Cash is not necessarily a solution either.
- clown_strike 1y agoCurrently at an airport right now. Nobody will even TAKE cash. I could be holding a million dollars right now but I cant use any of it to buy a coke. Availability is not the bottleneck.
- catlikesshrimp 1y agoWhich airport? (My third world country airport stablishments accept cash payments. There are vending machines which do, too)
- _Algernon_ 1y agoTime to admit that this bloke was right? https://www.youtube.com/watch?v=Je246B2NKLE https://www.youtube.com/watch?v=Je246B2NKLE
- bell-cot 1y agoSure, cash is far from ideal. But it's something we already have (zero implementation resistance/delay/cost). And it still works fine (at least at small scales) when the power fails, or internet is down, or server gets hacked, or whatever.
- darth_avocado 1y agoCorrect. But I’m mostly addressing the GP’s comments around the need for preserving cash as a mechanism against government/private entity overreach, which it isn’t.