Hacker News Reader

Comment by superjan | Hacker News Reader

> Computers will make the world of tomorrow a much safe place. They will do away with cash, so that you need no longer fear being attacked for your money.

Hahaha

View on HN

It's not wrong. You no longer have to be physically present to have your money stolen. It's safer for everyone.

The growing use of Debit and Credit Cards eliminating the need to carry a hundred or so with you at all times for spending/errand purposes without requiring the merchant to take the risk of taking personal cheques was a huge revolution made possible by mass computerisation in the finance industry. This includes the current discussions many governments are currently having about simply not issuing cash money any longer.

Cash money still has its uses. I always carry some for tips and for when a business's payment card reader goes down and nobody knows how to process a card without it.

> when a business's payment card reader goes down and nobody knows how to process a card without it.

Online fraud prevention is the most important part of online card processing, and can't be done offline.

I was paying for services rendered at the optician, and luckily had a wad of cash, but what's the user story there other than wait while they call support? I guess they could have invoiced me.

Online fraud prevention is the most important part of online card processing, and can't be done offline

It was done offline for decades.

All the world's computers talking to one another is far more recent than credit cards.

You are completely right but the core issue is that they don’t want to process credit cards or avoid fees.

Having money with you though is good in emergencies. Carrying a one dollar, five dollar and or a ten / twenty though is always a good idea.

Since the pandemic especially, a number of businesses don't take cash, only cards, particularly some small breweries and independent fast food places in our area (Silicon Valley). I guess if the card readers all go down they are out of business until they fix it.

Yeah it's an interesting thought. Credit card scams, phishing, etc. have made new ways of stealing possible.

It's 'safer' as in I think you can claim muggings or burglaries (or losses to these) have reduced because people just don't carry as much cash anymore.

There is even a song written about that :)

> You don't have to rob me

> It's not really worth it

> I only have credit cards

> And I can just cancel them

> Know that you needed cash

> But what the fuck's up with that?

(DOMi & JD BECK - U DON'T HAVE TO ROB ME)

Reply on news.ycombinator.com