Anonymous
Anonymous asked in Business & FinancePersonal Finance · 5 years ago

What would happen if America decided to ban cash and coins?

aka, the only forms of payments on the merchant side would be chip-based credit/debit cards, checks (with instant authorization to avoid bouncing), and ACH payments for employees to get paid for work. cryptocoins would be left alone because of the trackable ledgers but wallet addresses would have to be pre-authorized.

3 Answers

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  • 5 years ago

    Considering that between 20 and 25 percent of people are under-banked (do not have accounts, etc.), the idea is doomed. And how would you handle tourists, etc. This idea might have merit in, say 200 or 300 years,

  • 5 years ago

    That would be the proverbial last straw for those favoring the next revolutionary war.

  • Anonymous
    5 years ago

    Since it won't happen, who cares?

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