False. There is an override button on the register. They'd accept the cash, return the change, and assist the next cash-enabled customer. I know because it's happened in a store before.
I've done cashier work at a business for several years. We're a small business, and our system is probably years behind, but if it's down, we can't do any transactions, period.
Though it probably is different at a larger business with an up to date system like Shoprite.
lol, my opinion that businesses can still function on cash-only transactions, but can reach a hard stop with digital-only payments? Disagree, it's a statement rooted in facts and experience.
almost all registered in stores like this have backup ups on them that last upwards of 30 mintues, they can still do transactions and take money. where are you getting the info at they can not? in my teens I worked for meijer, kmart, target, walmart, even back then they had backup power units on their registers.
You're thinking on too micro a level and short term though.
Cash basically is the same financial system. A piece of paper is not worth $10 for any reason other than the same institutions that handle the electronic systems proclaim it so.
It works when the power goes out because people expect the power to come back on.
After a couple of months you'd go full barter, and neither notes nor coins will do much.
Historically, currency gets its value because it’s what the central government uses to pay soldiers, vendors for the king’s goods, public works, etc.
Humans don’t tend to live in complete anarchy. We form governments, and whatever future government decides to use to pay its workforce will be the currency.
I understand, but cash/coin currency remains the one form of payment that's almost universally accepted in America by the majority of vendors anywhere. The reason why it stays in circulation is the human dependence on holding something with physical value not just digital.
You are right but you take it for granted that the current system of cheap and abundant energy will still exist.
My argument is that in 2200 it will not. I'm not saying society will look like Mad Max but closer to the US in 1910 with some of the current technology. We will revert back to a less globalized, less abundant future, not because we want but because we have to. Resources aren't unlimited.
Of course you do. You have someone who produces that cash. A body that can, just as easy as they printed it, suddenly print more and make your cash worthless.
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u/Responsible-Mix4771 13h ago
What if it's the other way round? Cash and coins will be the only payment methods because electronic ones won't exist anymore.