XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 on Nostr: Cash represents final settlement. However, banknotes, which most people regard as ...
Cash represents final settlement.
However, banknotes, which most people regard as cash, are not truly final settlement, no matter how much you believe they are.
Banknotes are liabilities of a central bank.
So, if you only accept "cash" because you dislike banks, understand that you’re asking me to pay you with an instrument whose function as money depends entirely on the central bank—an institution that could render that cash worthless
However, banknotes, which most people regard as cash, are not truly final settlement, no matter how much you believe they are.
Banknotes are liabilities of a central bank.
So, if you only accept "cash" because you dislike banks, understand that you’re asking me to pay you with an instrument whose function as money depends entirely on the central bank—an institution that could render that cash worthless