LogFAQs > #968605415

ReturnOfFa posted...

I guess they forgot that most transactions are recorded,

Misleading if not outright untrue. The "record" in most cases is a sales ticket between the store and an anonymous party, which may or may not have really taken place (see: money laundering).

The main point was the having anonymity, which they do (more or less).

ReturnOfFa posted...

your cash withdrawal is recorded,

But not what happens to the money afterward and, more importantly, cash can be exchanged multiple times before it touches a bank, In some cases, it might never touch a bank.

ReturnOfFa posted...

your cash withdrawal is dependent on power and internet too...like just cut to the chase and protest money. Instead you're like, simping for going to the bank??? lol

Again, banks may never enter the equation. A cash society CAN run without banks, although it'd be impractical for some things.

And keep in mind some people can't use banks for a variety of reasons.

adjl posted...

That's such an odd list. Half of it isn't actually killed by going cashless (selling stuff, saving, tipping, markets), some of the lines are just outright meaningless (tooth fairy/piggy banks), and others aren't exactly high on most people's list of things they like to use cash for (homeless, buskers). The only one that's potentially a legitimate concern is the privacy one, which is buried at the bottom of a list of nonsense.

Also this.

ReturnOfFa posted...

It definitely is the most private option, but it doesn't mean it isn't traceable...

It's a LOT harder, if not impossible, to trace after just a few transactions. And it's impossible to actually trace as a downstream -- ie, somebody takes money from a bank, buys something, the money is given as change to another customer, and then the customer spends it elsewhere (after which it either goes to a bank or gets given as change to somebody else). At that point, you're only going to be able to ID a very small part of that chain.

ReturnOfFa posted...

Same with the cash hoarders. I also find the cash hoarders funny because if everything went to shit...would that cash really be that useful?

Under a short-term disruption when people can't use banks, etc, cash would be king. Under a long-term disruption, something else might be used as currency or it'd be barter only.