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Cashless Australia

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cdev:
New Youtuber Brett Scott is blogging about the War on Cash.
He points out how we're ceding an essential part of our lives to the banking system, which has all sorts of scary implications.



As Bret points out, Cash does not crash.

Nusa:

--- Quote from: cdev on March 19, 2021, 01:03:28 am ---As Bret points out, Cash does not crash.

--- End quote ---

Assuming that's how he said said it, he is simply wrong. There are quite a few well-documented cases in history where cash has crashed, very badly. Here's one so recent every adult alive that is aware of world events should already know about: https://en.wikipedia.org/wiki/Zimbabwean_dollar

Video links are wasted on me -- I won't waste my time watching what you don't consider worth summarizing.

bd139:
Yep. Lmao on cash. I have one of these. And yes that’s genuine.

Gold crashes too. It’s just shiny rocks. And it’s bugger all use. What will happen is it’ll have some artificial value until people start getting sick or hungry. Then it’ll taper off fairly quickly.

Always line your risk investments against maslow’s hierarchy of needs. While not scientific it represents our base survival instincts. Providing people with security, food and shelter > shiny rocks.

coppercone2:
the payment machines in food places break down ALL the time. Like last week I ever heard the cashier talking about how the system is down,the boss said just to accept it, then she said well it does not go through all the time, but he said accept it anyway (it was like shady sounding)

I can imagine scams where you take out someones business internet and force em to do a transaction on merit. I think it can only tell if it looks good but since the connection is down.. what is it doing exactly?

'i need to get this to work to get lunch for people' then chuck all that stuff in the freezer

What are they gonna do card you for some sandwiches?

Does anyone know what those machines do when there is no connection? Is it just looking for a plausible real credit card number based on a hash or something like that?

bd139:
Usually there's an accepted level of transaction loss. That's why you find that places like that tend to have slightly higher priced items than elsewhere. You end up paying for it. It's a hedge against unreliable customers and unreliable POS kit. At the end of the day it depends on where you are in the world. If your customer is at risk of shooting you (America) then it's probably cheaper to just let them have the stuff and risk it.

The other way is paying for decent POS kit and connectivity, which isn't really expensive unless you life in the third world (America).

Oh there's a theme here. America  :-DD

Here in the UK the customer is told to piss off or the backup POS unit or mobile network connection is used instead...

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