Currency (Restrictions on the Use of Cash) Bill 2019

Re:Currency (Restrictions on the Use of Cash) Bill 2019 by sokoloff on Monday July 29, 2019 @09:14AM (#20554247)

The beauty of cash is that everyone knows "it's good" (ignoring counterfeiting for the moment). There's no "stop payment" on cash.

If I'm buying a car from a dealership, ACH/e-check or regular check is fine. If I'm buying a classic car or a boat from a private seller on a weekend, cash is still king. A dealership may prefer a check over cash, but a private seller who is on the fence about taking your semi-lowball offer is often somewhat motivated by seeing physical cash and imagining (even if subconsciously) having the cash and being done with the transaction.

Physical cash's non-recourse is a security problem for theft, of course.

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Re:Currency (Restrictions on the Use of Cash) Bill 2019 by jsjohnst on Monday July 29, 2019 @11:16AM (#20555428)

Try going and depositing $50k in cash at a US bank (let alone orders of magnitude more) and tell me it was a pleasurable experience. As someone who’s withdrawn and deposited multiple large amounts of cash (largest being in 7 figures range), I can say it’s a real pain.

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