Government sponsored Bitcoin. When the government wants to shut down the entire economy, or just target certain portions, they can do so with the click of a mouse.
What happens when the little girl scouts come to your front door? Pay her with a smart phone app? PayPal?
“What happens when the little girl scouts come to your front door? Pay her with a smart phone app? PayPal?”
Yes. Little kids are practically born with touchscreens these days. Kid devices are waterproof, padded and for more indestructible than paper cash.
So a Girl Scout would theoretically punch in your order on her device. Then you’d review the price and tap your device to pay. I know kids in middle school already using phones to exchange cash with friends.
Payment instantly made, no change needed and you get emailed a receipt. Every transaction is traced and no way to lose it or get robbed.
There’s many advantages to a cashless system. But giving up all privacy and control to banks outweighs them IMO