Paper USD has pretty good privacy, but is not a good store of value. There's not much demand for an electronic version of this electronic type of cash since it's also not worth saving.
Why go throguh the trouble when it's easier to use the ATM?
Discussion
Yes, cash is great locally, but you can't use paper USD to transact instantly with anyone on the planet.
And digital fiat is censorable, confiscateable, and not private.
Monero hes none of those problems (and addition to a long list of things it does better with cash)
>"There's not much demand for an electronic version of this electronic type of cash"
Even Bitcoiners don't believe this. That's why Monero is the most traded currency on Bisq. It also consistently outperforms, or comes close, to Bitcoin at any business that accepts both.
The market does not value these feature enough to justify holding Monero. Therefore, it's only utility is a medium of exchange.
Cashu is slso private and instant. It is not soveregn, but there"s no pointbin being sovereign if your money loses value over the long run.
That was directed towards your question about paper cash "Why go through the trouble when it's easier to use the ATM?"
>"there"s no pointbin being sovereign if your money loses value over the long run."
Of course there is. Especially for large amounts of money. Why would you take on additional counterparty risk when you don't have to?
Cashu is custodial. It's not a replacement for Monero (non-custodial). Different use case, different advantages. Here it is from the creators own mouth: