[CraigJPerry]

I’d imagine it’s fairly unlikely you’re paying cash for that large amount, most people would choose a more convenient form of transfer surely?

How much time is wasted in these transactions just counting and verifying the money?

Also what if lots of people decided to transact like this. It’s not like the banks have paper to back all your deposits, they’d need time to go physically print paper if it became that popular a medium.

[ROTMetro]

The solution is to make larger denominations, not ban cash sales. But then the government would give up power, so that isn't going to happen.

US dollars say explicitly "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE", it would be ridiculous to say 'under $10000'.

Once the government has control what's to stop them doing like China has proposed, and make your virtual currency have velocity, meaning if you spend it today, it's worth $1, next week .9, and next month .5?

[atahanacar]

>Once the government has control what's to stop them doing like China has proposed, and make your virtual currency have velocity, meaning if you spend it today, it's worth $1, next week .9, and next month .5?

Isn't this literally what inflation is?

[singpolyma3]

Note it says "debts". Most retail situations have no debt because you must pay before you receive the item.

[koliber]

If you break down any transaction, it has three components. First, there is the agreement to trade some goods and services for some price. At this moment two debts are created. One is to deliver the money. The other is to deliver the goods and services. The 2nd and 3rd component is the delivery of the money and the delivery of the goods and services.

If you for a candy bar in cash all three happen at the same time. When you buy something and pay later, or pay up front and get something later, it’s easier to see the different components. When you buy stocks via a broker, it’s even more apparent.