Comment on Death to Nickels

quediuspayu@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

• Korhaka@sopuli.xyz ⁨3⁩ ⁨weeks⁩ ago

  Disagree with that, we shouldn’t get rid of cash, just shift the values upward a bit. I am British so for us probably drop 1/2/5p coins, actually use the £50 note and introduce a £100 note as well. Maybe switch £5 notes to coins.

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  • quediuspayu@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    I don’t think we should get rid of cash, that would the worst idea ever.

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• stupidcasey@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Getting rid of paper money sounds good on paper😏, but it’s genuinely a terrible Idea, It allows the government to track every single dollar you spend, right down to your totally legal weed your definitely smoking in Colorado. It would give the US government the surveillance capabilities of visa, Google and Facebook combined. Which is why I’m surprised it hasn’t happened yet, the only thing I can think of is it would weaken the dollar to other countries, the US could just turn off an entire country organization or individual’s entire economy, China and any country remotely hostile would immediately dump the dollar.

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  • quediuspayu@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Not only that, electronic money is dependent of internet connection. If right now an internet outage of a few minutes is pure chaos in most retail, imagine not having something to fallback on a longer outage.

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    • otp@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

      I could fathom a digital wallet that stores money locally.

      Of course, any counterfeiting would only be verifiable with an internet connection.

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  • Doomsider@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Oh you sweet sweet child. The government has complete control over Visa/MasterCard already. If they tell them to shut someone off they do. They also have complete access to what everyone buys.

    This all happened a long time ago.

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    • AlpacaChariot@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      But they don’t have complete visibility over what you do with cash, which is exactly their point right?

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      • Doomsider@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        No that really wasn’t their point. The government already has complete visibility without having up have an official digital currency.

        There are also a host of problems with carrying cash and but it is not really anonymous either.

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      • stupidcasey@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        Exactly l, you can monitor all the digital goods you want but the people who want privacy can always fall back to cash (technically they can track serial numbers but it’s nowhere near as invasive and can only be counted when it is spent with an untrusted source) they can turn off your banking account but they can’t turn off the cash you have buried in the back yard.

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  • Corkyskog@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    Oh, I thought they meant that they would be replaced with coins…

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• qaz@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  And the dime

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  • DmMacniel@feddit.org ⁨3⁩ ⁨weeks⁩ ago

    And the Hexagon!

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