I’m 80. As a kid I used to hear the term “cash on the barrelhead”, a saying that was used by my elders and largely in rural areas. It goes as I recall… at the front of each general store you might see a barrel, a pickle barrel, that was closed. You wanted a pickle, you placed your coin on the cover, the barrel head, then the store keep would open the barrel and retrieve your pickle. Damned good business practice and still used today even if known by different terms. Now, two things…Herb wrote: ↑Tue May 23, 2023 7:53 amAnything can be used for trade. I have traded a car for a motorcycle, an old pickup for guns, work for food or gas. Cash money just makes the trading more convient and easier.
crypto increases the dificulty of a trade over cash. Cash is in my pocket and I hand it to the other person for an item.
crypto I have to use some type of computer system to keep track of it and spend it.
I want cash in hand, not in some electronic wallet.
BTW, you say there is only 21 billion in bitcoin, how do you know that??? Why is it not possible for someone to invent more out of thin air. It would be impossible for the average person to know.
First, there are transactions made where the buyer wants to see cold hard cash and I see that as always existing. Ferinstance, you are in a rural area where the power is down but you need to buy food and the proprietor needs to do business and cash is the only alternative.
Second, and nefariously, I see the likelihood of underground paper currency being printed for use and widely disseminated by those who don’t wish their transactions traced, sometimes with disastrous results. Criminal organizations, sometimes even within governments, are powerful.
