Banning cash worldwide?
seeing the world as one is the mistake here , there will always be countries that gain more from going against the statusquo.
so nope it will not hinder bitcoin at al since you can connect it to gold.
Topic: [05-04-2015] What will become of Bitcoin when cash is banned? (Read 624 times)
The funny thing is by trying to save the fiat system they actually destroy it. I don't think we will go back to the stone age by banning cash, but it will erode the confidence in the fiat system. Ability to store and control money independent of banks is economic freedom and an important confidence factor.
He must be dreaming, cash won't be banned. The beauty of Bitcoin is people can choose to use it, learn about its pros and cons and decide for themselves.
Banning cash would mean forcing the use of digital currencies on everyone: the old and the young, the rich and the poor, educated and not. I don't know where he got this idea but people will need years to become familiar with the concepts of electronic currency. Maybe for him it's hard to comprehend, but a lot of people still don't have internet, they don't even know what electronic currency is and use only fiat. Yes, there are still places where your wage is put in your hand every month, not wired to the bank and there are still people who never bought anything online.
Banning cash would mean forcing the use of digital currencies on everyone: the old and the young, the rich and the poor, educated and not. I don't know where he got this idea but people will need years to become familiar with the concepts of electronic currency. Maybe for him it's hard to comprehend, but a lot of people still don't have internet, they don't even know what electronic currency is and use only fiat. Yes, there are still places where your wage is put in your hand every month, not wired to the bank and there are still people who never bought anything online.
No one will be able to ban cash. Barter / Bullion is a thing of the past and people will not be able to adjust to them. Without cash, we will go back to the stone age. So this scenario is highly unlikely.
I don't think Bitcoin will have the same kind of understanding then. To me, bitcoin always is like the things that was not possible with cash. So if there is not any cash, bitcoin won't be praised as much.
Banning the cash will make all the money flow totally contained inside the banking network, thus everyone will be playing the fiat money game on this giant MTGOX, no real transaction will ever happen, all are numbers in bank's database
The only alternative is bitcoin. It will be interesting to see the result
The only alternative is bitcoin. It will be interesting to see the result
The Death of Cash, Rise of the Middleman, and Bitcoin in the Balance
http://www.lazytv.com/the-death-of-cash-rise-of-the-middleman-and-bitcoin-in-the-balance/
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