Topic: Why the fuck do we still use cash? - page 7. (Read 6679 times)

Not everyone owns a smart phone in 3rd world country.

Cash is more convenient in many parts of the world.

Say you used one credit card for all your transactions and say you used it at Target this past holiday season. Then say that you were one of the folks whose credit card company said: "We're cancelling your current card and will send you a new one." What, exactly, would you use to pay for things until the new card arrived? That's one reason for cash.

Say you're dining out and say that the power goes out, or simply the credit card processing companies are down when you try to pay. What do you do? If you actually carry cash, you have a significantly smaller problem.

The problem with credit/debit cards is that they are entirely dependent on services being up 24/7. Bitcoin has a similar problem but with less opportunities for problems. Cash on the other hand (and I'm talking about the paper version not the 1s and 0s that banks count as 'cash') doesn't rely on anything of the sort. There are too many points in the credit card transaction process where a point failure can cause significant problems.

So, we still use cash because it can be used when credit/debit cards cannot. Assuming, of course, that the recipient knows how to count (and make change in the case of retail outlets).

Then there are those who prefer that there not be an electronic trail of all their purchases. With the Government trying to pin the 'terrorist' flag on everyone from those trying to be self-sufficient to those trying to prepare for a potential catastrophe, a lot of those folks prefer a cash purchase with no other records than their receipt and their name uninvolved and unrecorded.

On a side note, has anyone else ever realized the humor in FEMA advising everyone to prepare for X number of days in case of a natural disaster while other branches of the government say that those who do things like that sort of preparation are potential terrorists? It's almost enough to make you cry, unless you're already cynical about government in general.

Thralen

Because there are still debts to be paid, and the people that control the money and debt.
I think they dont want paper money to be gone, And Im thinking for a long time that paper cash sucks,
before Bitcoin even existed.

Cash still have the lowest fee - 0 and untraceable.

CC transaction has fee, so is btc.

Because not every shop accepts bitcoin as of yet. The same applies to machines.. for example, various machines do not accept creditcards.
Cash has traditionally been used as currency, anyone from the youngest to the oldest can use it. Im not so sure a 7 year old can open a paypal or creditcard account. 

Well, recently Poland's central bank said people use too much cash, they proposed to lower the max amount for cash transactions from 15k € to 1k €. Plus there is going to be digital currency introduced soon; the same can happen in any EU country.
Hmmm...

Use cash whenever u want to also btc or other currency.

paypals and credit cards introduces taxes, and not everyone is willing or able to have them(you need to have credit and identity avaliations). Even cryptos have transfer taxes

paypals and credit cards aren't easily avaliable in all globe

not everyone is into computer and stuff

not everyone trusts virtual payments

with plastic money you can't hide how much you spend from the gov

some people just can't control themselves when they have credit card, so ends up endivided and puts the guilty on the credit cards

you can't buy illegal stuff like durgs and falsified stuff with credit cards

Maybe when the cryptocoins arent too volatile or complex for some to understand

We still use cash because it is convenient and we derive security from being able to physically see and hold our money.

Cash is great compared to credit cards and paypal. Why hate on cash? If things go the wrong way in the future we might look back on the days we could transact anonymously in cash fondly.

Personally, unless I can use Bitcoin, I prefer to use cash. Although I rarely care about this, cash is more anonymous than Bitcoin.

If it needs to be explained you wouldn't understand still.

What is the problem with giving the full information to government about the transactions?? It will help the fair one and will help in punishing the person who does wrong.

Your government thanks you for being a good upstanding citizen that allows them to know all about you.
Ikea thanks you for the targeted advertising opportunity.

well thats like a nice boy.. keep it up

I don't use cash. I always buy things online or use debit card.

I use cash because if the power goes out (But the government remains in power) how the fack are you going to pay for anything? We have a long way to go before credit cards can be used during power outages.

I read somewhere that "The most evil secret society in the world"* wanted to change all the payment options and all money to be digital, so they could wipe the power grid and bring back slavery.

I don't mind physical assets.

*I'm not a conspiracy-nut. It's a quote from the source.

Americans love plastic. It's absurd even to europeans.

I use cash because I don't like having debt. Plastic is too convenient, cash forces you to think about your finances and makes it impossible to spend more than you have.