Oh yeah

At a 1.5% fee after 30 transactions $100 becomes $63.55. In the US I think CC fees are actually closer to 3%. Businesses also get charged exorbitant cash handling fees by banks for lodging cash or for getting money handlers to remove cash from the premises. Large businesses will also consider the time cost of employees handling cash drawer changes and as well as the risk of underpaid employees stealing from the register. His logic works well in a circular economy of small local businesses but so long as all your vendors are major corporations, then the savings in cash vs credit cards are not that significant.

Why ‘they’ want to BAN cash

True. But also they don't like P2P. Very nice video, quite clear!

Also, I get SATs back for using my venmo cc

Meh, when I went to the US I offered to pay in cash multiple times. Everyone preferred CC, even the small businesses, eventually I stopped asking. Even in Germany, where Cash used to be King, there are now more card only stores than ever. There are cost associated with handling Cash as well, especially when you don't trust your employes. If businesses don't want your cash, even though they could save a lot on taxes, that should tell you something. Digital payments are the future, but with Bitcoin we have the chance to bring privacy and low transaction fees into the digital realm.

They want to steal our wealth with any way possible.

We love cash where I work. We also still prefer checks!

Really good point

Supremely weird that Peter Todd, who practically worships the Tribe, its vile state, and all its institutions, would re-post this criticism of its usury system.

There's still a cost to handling cash it's just built into the price of the product.

But with cash you have to add 12% or more to it for taxes evertime it trades hands. So it shrinks as well but faster.

Yeah, which is why a lot of people started questioning the narrative because it was so obviously injected into the conversation and didn't add up in the end. Once you start pulling at one thread, the whole edifice starts to crumble!

Banks also charge companies to deposit their cash with them. That creates an incentive for companies to not use it. Banks should stop charging them, but I'm convinced banks are in on the attack on cash.

It's this where all the money is going?? View quoted note →

It's a bit more of a super abnormal non-fundamental crazy runaway ponzi scheme, to be perfectly honest. Bitcoin is perfectly honest, read my article that I've done on it :)) https://medium.com/@j0e810ggs/bitcoin-the-storage-of-love-exchange-of-pure-human-empathy-58e38fa2b5f1