News for hackers. Stuff that matters.

A comment on What happens after a bank closes all of your credit cards?. Parent comment

Re:What happens after a bank closes all of your credit cards? by m463 on Saturday April 10, 2021 @04:24PM (#26764803)
I believe this would be used to subjugate people in the worst way.

cash is concrete. People can count how much they have. They know how much they spend. They can give it to someone in the middle of nowhere away from computers. If we had cards, all kinds of tracking and tracing would be added. Civil forfeiture could happen while the cash card was in your pocket.

There is just so much society would lose for the business convenience you're asking for.

[ Parent | on HN ]
Re:What happens after a bank closes all of your credit cards? by Balgair on Saturday April 10, 2021 @06:38PM (#26765879)
One intersection of cash-less economies and new technology is the Louisiana State Penitentiary, Angola. By memorizing the 'dots' of pre-paid cards the people inside were able to still barter and trade goods like they had before with cigarettes.

"“Cash is contraband, but people have got cash,” the former prisoner explained, “but it is not cash like cash in hand. It is untraceable. It is all based on numbers. People pay each other with dots.”"

Economies and mediums of exchange will find a way where they are needed.

https://www.theguardian.com/us-news/2019/aug/30/prison-econo...

[ Parent | on HN ]
Re:What happens after a bank closes all of your credit cards? by leetcrew on Saturday April 10, 2021 @05:18PM (#26765212)
there is a reasonable middle ground between "absolutely every business must accept physical cash" and "physical cash no longer exists".

places that do a lot of cash business will naturally continue to accept cash as long as it exists. several business I patronize only accept cash. it's not some colossal injustice if the fancy coffee shop is plastic-only.

[ Parent | on HN ]
Re:What happens after a bank closes all of your credit cards? by crazygringo on Saturday April 10, 2021 @07:03PM (#26766072)
Not many people keep all their money in cash. Most people count their money via their bank balances. If the government is after your money, they can seize your bank account today.

But to be clear, I never once suggested abolishing cash. And I'm not suggesting that now. I'm saying that cash continues to exist, we allow businesses that want to go card-only to do so, but make sure that everyone can easily get a card.

[ Parent | on HN ]