Why the fuck do we still use cash?

[Predatorian]

when we already have crypto currencies, master cards, paypal and other shit, why do we use cash?

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

[pozmu]

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.

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...

[bitsmichel]

when we already have crypto currencies, master cards, paypal and other shit, why do we use cash?

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. 

[dadugan]

Cash still have the lowest fee - 0 and untraceable.

CC transaction has fee, so is btc.

[nickenburg]

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.

[Thralen]

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

[onlyu]

Cash is more convenient in many parts of the world.

[madken7777]

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

[lemfuture]

when we already have crypto currencies, master cards, paypal and other shit, why do we use cash?

majority of people in the world still use cash

[newIndia]

It is so that crypto currencies r a new concept compared to cash. It has its advtanges over cash like universility, security, etc But these advantages need time to spread among all people nd places.

[fdiini]

It is so that crypto currencies r a new concept compared to cash. It has its advtanges over cash like universility, security, etc But these advantages need time to spread among all people nd places.

Need infrastructure in place to accept btc.

[Amph]

you can escape taxes with cash

[DogeBalla]

Cash is something that will ALWAYS be used because of its simplicity

[tooil]

Cash is something that will ALWAYS be used because of its simplicity

yes.

[Rigon]

Cash is something that will ALWAYS be used because of its simplicity

+ A simplicity that we still need it ,i love bitcoin but i still like ti use cash ,cash is anonymous and widely accepted, and has zero transaction cost.

[sana8410]

Cash is something that will ALWAYS be used because of its simplicity

+ A simplicity that we still need it ,i love bitcoin but i still like ti use cash ,cash is anonymous and widely accepted, and has zero transaction cost.

Cash has a transaction cost. There are costs in counting it, safeguarding it, watching for disappearance from workers, etc. Benefits of cash include that that it doesn't bounce, no creditcard company for a consumer to dispute the charge, clears instantly.

[lyth0s]

Go buy a hotdog on the street shop and pay him with paypal

LOL, now yes i got your point. bt why do we still use cash for larger transactions?

Describe "large"


I personally rarely use cash anymore. From food to gas to buying something else, I use my debit/CC's. In the very near future I hope to use my Bit/Lite cards .

I rarely use cash as well. Especially for "large" purchases, which is pretty much anything over $20 for me. Who would want to have to continually go to the bank for more cash, or carry around that many bills? I think most people use debit/cc for the majority of "large" purchases. Anyone pay their mortgage or rent with cash recently?

[shadowphoenix]

I have a feeling it will not be too long until cash will be looked at as something of an ancient thing.

[Bogleg]

Cash is still the most trusted form of currency for half the globe.

[Giulio Prisco]

Cash is still the most trusted form of currency for half the globe.

Count me in that half. Until Bitcoin really takes off, cash is the _only_ form of currency that I trust.