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Farewell, Android Pay. We hardly tapped you

LucreLout Silver badge

The main benefit of keeping cash as a thing within the economy is that it prevents the imposition by government/quango of negative interest rates. The ability to impose such would allow them to tax the principal sum in a bank rather than only the interest.

Whatever your thoughts on wealth distribution, even a cursory glance as cold war inflation in Russia or present day Zimbabwe should illuminate why having people rush out to convert any income into none currency assets leads to a self reinforcing hyper inflationary death spiral.

I like pay wave etc and I'm comforatble with tap n pay from a mobile, but I wouldn't want to lose cash, because you never know what the next government will do, and they may not be as benign as the last.

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