That's false. If the internet goes out I can collect cash all day long. Electricity and the Internet are not that intertwined. I've lost Internet at home on multiple occasions and the lights stayed on. And even if the power goes out, I can calculate cost with a handheld calculator (or pencil and paper) that doesn't need electricity or even Internet and I can hand write you a receipt. People have been taking cash far longer than the Internet has been around, so sorry, but your assertion has no merit. In fact, this is one of the reasons why cashless may not be the best option, in a case of a power outage, if we are all cashless, you cannot buy or sell anything. But with cash you can continue to operate.
This is true, but I can tell you from first hand experience that the back-end sync process isn't perfect. We have a POS system in our small business that is supposed to do just that, but what we've experienced is that it often breaks or requires a lot of manual intervention to get everything processed. I can't imagine what that would look like for a Costco or Walmart.
This ^^
Why does the electricity have to go out when the internet goes out? Is your life powered by PoE? How could we have ever have made in store transactions without the the internet!?!
Costco and Walmart aren't your small business with limited resources.
This is exactly right. There are already financial institutions denying credit for things like gun purchases or denying loans to businesses that don't meet their EGS standards. Even being a pro-life organization can get you denied because the modern thing to do is cancel someone who doesn't share your viewpoint.
I'm reminded of last year when the Communist regime of Canada was freezing bank accounts of Canadians who disagree with their policies.
If internet goes out, then cash registers in large outlets goes out. They are connected live to many systems to ensure all transactions are processed and inventory changes trigger supply chain operations so next night delivery will bring what's needed.
You already don't control your own money.
If internet goes out, then cash registers in large outlets goes out. They are connected live to many systems to ensure all transactions are processed and inventory changes trigger supply chain operations so next night delivery will bring what's needed.
Now, where was the last time you went shopping and you couldn't pay with card because internet is out? Sure, electricity and internet aren't same and are not directly connected, but in real life I seen much more blackouts in shop than card payments issues because of faulty internet. If something happens that internet is out usually is related to wider issue.
And no, if power goes out you can't calculate and write receipt - each commodity have it's own tax code and correct receipt number which but can use to handle taxes, and seller using to register transaction. It is required by law and selling anything without that is asking for a big trouble.
And how would you handle a return of an item bought with hand - written receipt? I'd like to see that
Only very small shops with less strict regulations could handle a small number of off tegister transactions.
People were using cash for ages, but the usage has been always evolving. You still do cash operations even if it is in your bank account. Bank notes are already just a proof of value, not a value itself, so it is same as a digital token of confirmation. Just printed.
The Internet turns off, you go out and buy a loaf of bread from your local shop for a few coins, not the crypto kind, the metallic kind.
It's Neo-Marxism. Perhaps it will be called Crypto-Marxism in the future.
Yes, large outlets and even small businesses have their POS tied to the internet. That doesn't mean you can't do business. Ask me how I know? I own a small business and have had internet outages which didn't prevent me from taking credit cards and/or cash. For larger retail outlets it can be a problem, but it's not insurmountable. If you have power you can swipe CC or take cash and everything will get processed on the back end, assuming you have a good POS.If internet goes out, then cash registers in large outlets goes out. They are connected live to many systems to ensure all transactions are processed and inventory changes trigger supply chain operations so next night delivery will bring what's needed.
Now, where was the last time you went shopping and you couldn't pay with card because internet is out? Sure, electricity and internet aren't same and are not directly connected, but in real life I seen much more blackouts in shop than card payments issues because of faulty internet. If something happens that internet is out usually is related to wider issue.
And no, if power goes out you can't calculate and write receipt - each commodity have it's own tax code and correct receipt number which but can use to handle taxes, and seller using to register transaction. It is required by law and selling anything without that is asking for a big trouble.
And how would you handle a return of an item bought with hand - written receipt? I'd like to see that
Only very small shops with less strict regulations could handle a small number of off tegister transactions.
People were using cash for ages, but the usage has been always evolving. You still do cash operations even if it is in your bank account. Bank notes are already just a proof of value, not a value itself, so it is same as a digital token of confirmation. Just printed.
