Cash is still king..
The old adage goes, cash is king. There are so many debates going on, as to what will have value when cash is just printed. The truth is that most of the “cash” is printed with a computer key stroke.
If you go to a bank, you may be surprised to know that there is very little cash on hand. It’s all electronic. For instance, if i mortgage a house through a bank, the “cash” is not forwarded for the house. No, it’s all electronic and instantly created. But having actual cash is something totally different. It is already taxed when in your hand. I can buy almost anything with it and it’s accepted everywhere within your country.
BTC and even gold can be considered assets. They are perhaps a store of value, but when push comes to shove and I have to buy something; I’m going to need liquid funds.
This is why so many countries are looking at cash, and saying it’s not controlled enough. I have theories about cryptocurrency and I believe most nations will adopt a crypto-currency based upon their “cash” system. Ledger blockchain technology will eliminate the “under the table” (not taxed) problems. Crypto will make it transparent and 100% taxable.
Europe and India have played as a testing ground for reducing cash denomination. Many banks now are already developing their own crypto currencies. BTC and other alt coins are a test in my opinion. Could we eventually see a ban on them once a nations crypto-currency is rolled out?
In any case my clean money that is higher denomination will now be exchanged for lower denomination. It’s a precaution and perhaps I’m being more paranoid than I should. However, it doesn’t hurt, just takes up more space.
Cash is always king.. 👑
Very true. As much as I dislike fiat currency it's still generally the preferred method of payment in the country it's issued from. It will be awhile before cash and fiat overall lose their stranglehold on the world economy.
I agree with your viewpoint. Cash will coexist with crypto. We can take the advantage of each one. Both are good.
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