People don't want to run their own bank
This article is biased and fails to acknowledge many advantages that cash has over credit&#x2F;debit cards:<p>* Transactions are private. There is no middleman between you and the merchant to censor your transaction or to sell your purchasing habits to advertising companies.<p>* Transactions are final. The merchant has no risk of chargebacks.<p>* Transactions are bounded. Once you walk away, the merchant cannot take more money from you. Whereas with credit cards, they could store your number and charge you again at a later date, without your knowledge.<p>* The amount transferred is known to you. Whereas with credit cards, the merchant terminal could lie and show you an incorrect amount, and you could approve the fraudulent transaction.<p>* The maximum amount you can lose is limited by the amount of cash in your wallet (let&#x27;s say $100), not by your credit limit (let&#x27;s say $3000).<p>* It&#x27;s easy to understand - you have physical tokens with numbers on them. There are no accounts, statements, minimum payments, interest, fees, reward points, customer service phone numbers, etc.<p>Cash obeys the principle of least privilege much better than cards do. Though, I think electronic payments can be a lot safer if we had a culture of push payments (&quot;I send $123 to Amazon to purchase widgets&quot;) instead of pull payments (&quot;here&#x27;s my credit card number, have fun&quot;).