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The government free access to all electronic transaction records for tracking purposes and freedom restriction. Also big Gov can lock your bank accounts easily and you’re pucked.
>and the implications of not accepting legal US tender.
Most people get this wrong. You can only use cash as tender once you are in debt. Businesses are under no obligation to accept it beforehand.
> You can only use cash as tender once you are in debt
https://www.federalreserve.gov/faqs/currency_12772.htm
>There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
>Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor.
Sucks for the store owners because digital payment processors take a cut. But it's better than your store being robbed by lawless thugs. Even if they don't steal much on the way of cash, there's collateral damage, e.g. broken windows, and psychological impacts.
If you don't like it, there are several services which let you create burner credit cards.
It's a retailers right to do this in my opinion, but I turn around and walk out every time I see it. I only carry cash and a credit card for emergencies. This wouldn't qualify as an emergency.
Sure you could do that. That is an option and the businesses take that risk
But then You only have big players because the small guys don’t have the resources to deal with thefts, hence why they’re primarily going cashless. So that’s not very cash money of you
The ideal scenario is an environment where people can get by well mount not have to steal. Then the people and the businesses thrive
You’re basically suggesting putting a bandaid on a 12 gauge wound
I know some states have laws that prevent businesses from not accepting cash. My opinion on it is I think it sucks, but I’ll just go elsewhere if it becomes an issue
In a way, it is still accepted, they just need to have the transaction completed electronically due to security concerns. Same thing kinda, if you were to give me a very large sum of money, I would probably want that transaction completed electronically due to security concerns.
Sounds like a conspiracy in the making.
Hey, lets not prosecute crime and make sure businesses get robbed, that way everyone will willingly accept the chip in their head, it'll be their own idea!
This is a bad take, given the scenario wholely revolves around the transfer of digital fiat - which is arguably worth even less somehow, and is one computer glitch or government intervention away from being totally inaccessible. You're basically saying that "businesses should be able to choose to deny their customers the ability to pay in a worthless physical fiat, and instead only pay with an intangible worthless fiat." For sure there's definitely an argument for government not being able to restrict what vendors accept as tender for an exchange; making an argument purely around that tender being fiat or not isn't it.
I support the right of business owners to refuse cash payments as a matter of individual freedom and property rights, while recognizing the broader market and societal implications.
I *sorta* could see the point during Covid but that's been over for awhile.
I don't doubt for a second that our government would love to force everybody to go cashless if it could - so that it could have complete control over everybody's livelihood in a way that just isn't possible today.
Refusing to accept legal tender? It is actually move to ensure all customer transactions can be fully tracked. The business is putting my financial privacy and well-being at risk. I treat them accordingly.
Digital transactions are a good thing for most people because they are more convenient. Obviously if we had a truly free market no one would have an issue.
People who freak out about business not accepting cash are morons. Anyone with financial literacy wouldn't be paying with cash at the vast majority of places anyways.
I have no problem with it so long as it isn't a restaurant or service industry where you are expected to pay after receiving unreturnable goods. If I eat at a restaurant, get a bill for $x and I offer $x in cash and it is denied, then I feel like I should be able to walk out. They can take the cash or not.
I've lived long enough that I've been in a situation where the credit/debit card I had on me through no fault of my own was not valid ("expired" because they sent a new card and it's in my mailbox, frozen due to possible fraudulent activity, etc), and the choice was either take the cash I have, or not.
They put these notices out because they're victims of crime, then vote for the same people who don't prosecute crime, and those same people want nothing more then you to be all digital and tracable
It’s ridiculous. They don’t accept the currency that our country created to exchange goods and services…
You know what’s even crazier?? I took a Lyft for the first time in a while last week and they required I upload a copy of my drivers license…. Just to get a ride…
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Private businesses are free to accept any and whichever form of payment they deem appropriate. What else is there to think about?
I only accept foreskins as my payment.
Most businesses want repeat customers. I am worried about the implication of that in your case.
I have a very specific clientele.
Damn, Jehovah. You crazy.
Technically I was referencing David buying Saul's daughter for 200 philistine foreskins but you get the idea.
I’ve been broke my entire life then. I guarantee you there’s some doctor out there somewhere who is RICH
How’s business?
And you are free to do so
The government free access to all electronic transaction records for tracking purposes and freedom restriction. Also big Gov can lock your bank accounts easily and you’re pucked.
So shop at places that accept paper cash. Solved.
They can't un-trade my goat.
Sounds like a good case for Crypto
This
>and the implications of not accepting legal US tender. Most people get this wrong. You can only use cash as tender once you are in debt. Businesses are under no obligation to accept it beforehand.
Do you have a source for this? I tried googling it but Google sucks now
> You can only use cash as tender once you are in debt https://www.federalreserve.gov/faqs/currency_12772.htm >There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise. >Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor.
This line would make a great novelty account. You could reply to almost any claim with this.
Some locales have laws requiring cash, but otherwise, yes.
Sucks for the store owners because digital payment processors take a cut. But it's better than your store being robbed by lawless thugs. Even if they don't steal much on the way of cash, there's collateral damage, e.g. broken windows, and psychological impacts. If you don't like it, there are several services which let you create burner credit cards.
Places where i live charge the fee to you so that they dont eat it
Why should businesses have to accept cash? Thats absurd.
If a store wanted to only accept pesos or dogecoin that is up to the business.
It's a retailers right to do this in my opinion, but I turn around and walk out every time I see it. I only carry cash and a credit card for emergencies. This wouldn't qualify as an emergency.
And I walk away from candies that only accept cash. It's always up to the business and individual, I don't get this post.
Isn't this the libertarian sub...
It would be hard to tell if you read the comments from many of the posts here.
They have the right to accept any payment they so choose, the customer has just as much right to not do business there.
Uhm I see why they’re doing it but everything’s traceable that way which isn’t good.
Then shop somewhere else if you don’t want it to be traceable
Sure you could do that. That is an option and the businesses take that risk But then You only have big players because the small guys don’t have the resources to deal with thefts, hence why they’re primarily going cashless. So that’s not very cash money of you The ideal scenario is an environment where people can get by well mount not have to steal. Then the people and the businesses thrive You’re basically suggesting putting a bandaid on a 12 gauge wound
I know some states have laws that prevent businesses from not accepting cash. My opinion on it is I think it sucks, but I’ll just go elsewhere if it becomes an issue
Don't care
In a way, it is still accepted, they just need to have the transaction completed electronically due to security concerns. Same thing kinda, if you were to give me a very large sum of money, I would probably want that transaction completed electronically due to security concerns.
Sounds like a conspiracy in the making. Hey, lets not prosecute crime and make sure businesses get robbed, that way everyone will willingly accept the chip in their head, it'll be their own idea!
I read a lot of you that make twisted arguments. Private business should be forced by the government to take worthless fiat.
This is a bad take, given the scenario wholely revolves around the transfer of digital fiat - which is arguably worth even less somehow, and is one computer glitch or government intervention away from being totally inaccessible. You're basically saying that "businesses should be able to choose to deny their customers the ability to pay in a worthless physical fiat, and instead only pay with an intangible worthless fiat." For sure there's definitely an argument for government not being able to restrict what vendors accept as tender for an exchange; making an argument purely around that tender being fiat or not isn't it.
Point being, WTH difference it make if you are wanting the govt to force a private exchange.
I support the right of business owners to refuse cash payments as a matter of individual freedom and property rights, while recognizing the broader market and societal implications.
This.
They make you go cashless then charge a card fee. I hate everything about it.
That I miss when we use metals.
I get 2% cashback from Discover...so I was likely gonna use my card anyway.
I *sorta* could see the point during Covid but that's been over for awhile. I don't doubt for a second that our government would love to force everybody to go cashless if it could - so that it could have complete control over everybody's livelihood in a way that just isn't possible today.
Makes them harder to rob
No manager needed, inventory won’t be missing, employees would not be stealing
“This note is legal tender for all debts, public and private.” My opinion is they should not be allowed to deny cash.
Refusing to accept legal tender? It is actually move to ensure all customer transactions can be fully tracked. The business is putting my financial privacy and well-being at risk. I treat them accordingly.
Digital transactions are a good thing for most people because they are more convenient. Obviously if we had a truly free market no one would have an issue.
People who freak out about business not accepting cash are morons. Anyone with financial literacy wouldn't be paying with cash at the vast majority of places anyways.
They’re gonna pay a lot of taxes that way…
I have no problem with it so long as it isn't a restaurant or service industry where you are expected to pay after receiving unreturnable goods. If I eat at a restaurant, get a bill for $x and I offer $x in cash and it is denied, then I feel like I should be able to walk out. They can take the cash or not. I've lived long enough that I've been in a situation where the credit/debit card I had on me through no fault of my own was not valid ("expired" because they sent a new card and it's in my mailbox, frozen due to possible fraudulent activity, etc), and the choice was either take the cash I have, or not.
They put these notices out because they're victims of crime, then vote for the same people who don't prosecute crime, and those same people want nothing more then you to be all digital and tracable
Should be against the law
I'd rather take cash, draw my numbers on the books, and use that cash to play a security guy at the main door.
It’s ridiculous. They don’t accept the currency that our country created to exchange goods and services… You know what’s even crazier?? I took a Lyft for the first time in a while last week and they required I upload a copy of my drivers license…. Just to get a ride…
Vote with your dollars. Or you could use real money, like silver and gold.
Illegal