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Byron Shire
February 23, 2024

Cash or credit?

Latest News

Knitting Nannas get behind Save Wallum campaign

With porcelain tea cups, lace-covered tables and plenty of knitting the Knitting Nannas Against Greed (KNAG) headed to the...

Other News

Mullum2Bruns Paddle returns

Exciting news for the 1,000 or so enthusiastic paddlers who come for competition, the dress-up fun, a family outing or showcasing their individual craft – the Mullum2Bruns Paddle returns !

Housing density study to be undertaken

Byron Shire Council have been allocated $239,239 by the NSW Labor government to undertake an ‘urban design-based housing density study, that will examine the residential areas surrounding the Byron Bay town centre and support the delivery of 700 new homes’

A True Pioneer in Deep House

Embark on a musical journey with Osunlade, a true pioneer in deep house and nu-jazz, as he graces the stage at The Northern Hotel in Byron Bay on March 9 for a three-hour extended set.

MIA: Balson on Wallum

Dear Cr Balson, I understand that you attended the Byron Council meeting last Thursday very briefly, but absented yourself from...

Naked rally in Byron as gov’t agency calls time on ‘nude’ beach

Around 150 people rallied in support of a clothing-optional section of beach in the Byron Shire on Sunday, many of them nude.

Man charged after dramatic hinterland police chase

A dramatic police chase from highway to hinterland bush in the early hours of the morning has led to the expected court appearance of a 26-year-old man today.

I enjoyed Richard Jones’s article (24 January) on how we should not abandon cash for credit cards, and I agree with it 100 per cent. I would like to add two other points in favour of cash which were not included in his article.

First, credit card companies are private companies and can refuse service to anyone they want. This could be used for political ends if the company so chose. Service could be refused to a pharmacy in America that insisted on selling birth control and sexual fulfilment items, to a Christian wedding supplies business that refused to sell to gay couples, or to a sex worker who wanted a credit card payment gateway for her customers to use. This may sound far-fetched, but I know of examples where exactly this sort of thing has happened.

Second, I think it is only a matter of time until hackers realise the opportunities offered by AI. Hackers enjoy disrupting computers, sometimes for profits by fraud, and sometimes just to show themselves how smart they are. A hacker could create an AI hacker which would use powerful AI techniques to create viruses. Such an AI hacker could reproduce itself quickly and create innumerable duplicates of itself all over the internet. It could cripple the banks and credit card companies. We have already seen the chaos that can occur to credit cards when a telephone service is victimised.  Cash would be the only defence.

Charles MacFarland, Ewingsdale


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1 COMMENT

  1. It won’t be long before Sovereigns and Shillings are the only thing that makes sense. All currencies, made from nothing, eventual return to their intrinsic value. Given our cash is plastic, you can’t even wipe your arse with it, but compared to bits in the aether, it’s better than the alternative.

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