The issue is I don't know how to size it: in a scenario where banking and payment infrastructure is shut down entirely, what problems am I trying to solve with cash?
The banking system need not fail generally for backup cash to be useful, it just needs to fail you. This could be through some bank error, or it could be because you got put on a list. Not long ago I would not have predicted that "donated a small amount to a non-violent protest movement" could result in your bank assets being frozen, but it happened in Canada. Now I think it's wise to assign some low probability to otherwise innocuous things exposing you to this kind of risk.
As anti-AI sentiment builds perhaps "frequently commented on SlateStarCodex" could be reason enough to freeze a person's assets.
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The banking system need not fail generally for backup cash to be useful, it just needs to fail you. This could be through some bank error, or it could be because you got put on a list. Not long ago I would not have predicted that "donated a small amount to a non-violent protest movement" could result in your bank assets being frozen, but it happened in Canada. Now I think it's wise to assign some low probability to otherwise innocuous things exposing you to this kind of risk.
As anti-AI sentiment builds perhaps "frequently commented on SlateStarCodex" could be reason enough to freeze a person's assets.
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