Cash Is Trash - page 4. | Bitcointalksearch.org

Twinkledoe

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Quote from: Alert31 on July 31, 2020, 04:10:42 AM

Cash will never trash because it was the currency use by everybody young kids,adult,poor and rich every one using it and everyone is trying to do hard work just to get cash to be use on their everyday life. Even now that bitcoin is still moving upward,if you need to cash out your bitcoin and other cryptocurrency you are going to convert it into a cash so that you can use it.

It will be a long journey before cash will be obsolete. But right now, a lot of people are still dependent on using their cash. We may be in the digital age, but a large population is still not yet ready to fully convert themselves into cashless beings. Most of those who are residing in the countryside or remote areas are not bothered by technology, so I am guessing they are one of those that will stay in fiat money.

Savemore

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Cash are not yet trashed but it can become a trash like what happened to the fiat currency of the Venezuela, where they experienced hyper inflation and their fiat currency lose its value. Their economy crashed and until now they are still in the crisis where many families out there forces to go in other country because of the hyper inflation. The USD may experience high inflation rate in these days especially because the FED printed trillions of dollars where it can affect the supply and demand.

Alert31

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Cash will never trash because it was the currency use by everybody young kids,adult,poor and rich every one using it and everyone is trying to do hard work just to get cash to be use on their everyday life. Even now that bitcoin is still moving upward,if you need to cash out your bitcoin and other cryptocurrency you are going to convert it into a cash so that you can use it.

shield132

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First of all that phrase was said by this forum's members from ancient times but personally I don't think so.
On another hand, why do anyone thinks that cash is trash? No, cash isn't trash, it's great. Trash is the way governments manipulate with cash and believe me, same will apply to any currency they wish. Will they move on crypto? Then this cryptocurrency will be controlled by them and same regulations / control mechanisms will apply to them that we have right now on cash/fiat. Cryptocurrencies are just alternatives that give us possibility to have better self control on your money and higher privacy / other requirements that we can't get on cash/fiat.

el kaka22

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Let's not overreact on cash right away, it still has some sort of value in world when you are spending it, not in the sense that fiat has value, fiat is something else, cash is form of a fiat, if I was promoting fiat here I wouldn't need cash, I could just say debit cards or credit cards which are fiat as well.

However I am saying cash, cash still has some value because for some stuff we still pay in cash as well. That means we are going to actually spend cash for a little bit more while, not going to stop doing that forever, it is going to take some time to remove cash from human life forever, we will definitely move towards never using cash eventually, doesn't mean we will move to crypto, just more digital payments of fiat, but that is at least 20 years down the line, probably more.

abhiseshakana

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Quote from: whyrqa on July 30, 2020, 07:11:04 AM

I believe that labeling cash as trash can also be philosophical in nature. Money is garbage and not the most important thing in life. Although in the current realities there is nowhere without money. But speaking to the point, it is best not to worry about the value of your cash, it is better to convert it into a commodity or any kind of investment. even for an ordinary person, it is better not to keep money in the bank, but rather to purchase at least real estate. One way or another, cash must be invested in order to make a profit.

Money is a means of payment, money itself does not provide benefits, but it is the function of money that provides utility. Money becomes useful if exchanged with objects real or if used to buy services. What makes money junk is the additional function that money has as a commodity, is traded, and becomes a speculation tool. Money can not be greasing the economy because it is collected in some people. Hoarding money and circulation in the free market keeps money from moving in the real sector so that the economy will spin.

Decred Arabia

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Quote from: Naida_BR on July 30, 2020, 06:17:23 AM

Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Cash is trash doesn't mean anything in order to explain what he thinks.
Probably he agrees that the best way to keep your money somewhere are investments. Because investments are also cash (most of the times). So how can he define that cash is trash?

It's trash for people who got more than they need and don't invest in deflationary assets

DoubleEdgeEX

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Quote from: arallmuus on July 30, 2020, 06:15:17 AM

Quote from: DoubleEdgeEX on July 30, 2020, 01:59:20 AM

It´s a nice sounding slogan but given the size of the crypto markets we are far away from throwing cash in the trash bin. A real setup could be to claim that Dollar bills spread Covid19, a possible way top force people into a cashless society. I´m certain that won´t happen soon, they need a CB issued and fully controlled digital Dollar first

We are far from that? Its more like we are never going to throw away cash for sure. Assuming that we are discussing about crypto in general and not limited to bitcoin, then I wouldnt expect a country to throw away all their cash and started issueing their own digital currency. The reason would be that not the entire population of the respective country are tech savvy, you need a specific knowledge on how to use those digital / cashless payment and stuff

I wouldnt expect everyone on the age of 60+ would be able to do so

I witnessed it a few times in China that old folks using Tencents WeChat to send Hong Bao (Red envelop with money) electronically to their grandkids. Not all use that of course. On the other side, if even the street beggars wear a QR code around their necks to scan and donate electronically you are pretty close to going cashless. I wouldn´t expect such a situation in the USA or somewhere in Europe soon.

The cure

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It is not right to say that cash is trash because cash is still a big part of every humans life.Let's admit the fact that we will be having a hard time if we don't have cash in our pockets. But it would be better if we will use it for investing things that increases it's value as time passes by like lands or other properties. Because there is a greater chance for you to earn profit from it.

whyrqa

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I believe that labeling cash as trash can also be philosophical in nature. Money is garbage and not the most important thing in life. Although in the current realities there is nowhere without money. But speaking to the point, it is best not to worry about the value of your cash, it is better to convert it into a commodity or any kind of investment. even for an ordinary person, it is better not to keep money in the bank, but rather to purchase at least real estate. One way or another, cash must be invested in order to make a profit.

MCobian

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In my opinion, don't mention Cash is trash, because that's absolutely not true. Around the world still use Cash money, so it's still useful
and it's not proper to call it trash. Although related to cash or fiat investment can not be said to be trash too, because if we keep it in the
bank still get interest even if it's small. When compared to Gold, Stocks and Bitcoin which is better as an investment. But not means cash
is trash as long as it still provides profit.

Mauser

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Ray Dalio is one of the top hedge fund managers, he has predicted many crisis. So being wrong a few times is just normal. No one can be right a 100% of the times. Stocks are still up MTD and only slightly down YTD. The maginitute of the corona crisis was very hard to be predicted and the reactions so far are very mild, compared to 2008. Holding some cash is fine at the moment but you still need to be aware you are losing money due to inflation. On top of that many banks are having 0 intrest rates with high fees for their accounts.

Naida_BR

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Cash is trash doesn't mean anything in order to explain what he thinks.
Probably he agrees that the best way to keep your money somewhere are investments. Because investments are also cash (most of the times). So how can he define that cash is trash?

arallmuus

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Quote from: DoubleEdgeEX on July 30, 2020, 01:59:20 AM

It´s a nice sounding slogan but given the size of the crypto markets we are far away from throwing cash in the trash bin. A real setup could be to claim that Dollar bills spread Covid19, a possible way top force people into a cashless society. I´m certain that won´t happen soon, they need a CB issued and fully controlled digital Dollar first

We are far from that? Its more like we are never going to throw away cash for sure. Assuming that we are discussing about crypto in general and not limited to bitcoin, then I wouldnt expect a country to throw away all their cash and started issueing their own digital currency. The reason would be that not the entire population of the respective country are tech savvy, you need a specific knowledge on how to use those digital / cashless payment and stuff

I wouldnt expect everyone on the age of 60+ would be able to do so

carlisle1

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

I read that first introduction last year and it gives us confident even the market is not doing good,and while checking the recent videos of Ray https://www.google.com/search?client=firefox-b-d&q=cash+is+trash+ray+dalio

Still his stand is about Cash being trash stays strong and with his stand and admiration i salute and respect the man.

Quote from: DoubleEdgeEX on July 30, 2020, 01:59:20 AM

It´s a nice sounding slogan but given the size of the crypto markets we are far away from throwing cash in the trash bin. A real setup could be to claim that Dollar bills spread Covid19, a possible way top force people into a cashless society. I´m certain that won´t happen soon, they need a CB issued and fully controlled digital Dollar first

At least people realization is starting and this is what i think the important part here.

No one here (who understand crypto advantage) to Hold Fiat now while the spread is constantly happening.

Quote from: bitbunnny on July 29, 2020, 04:10:31 PM

Although cash is slowly going to history we still can't without it. Cashless society is something we would like to achieve but still large number of people is still using it and it's not willing to give it up.
I wouldn't say that cash is trash, maybe is just a form that becomes oldfashioned in this high technologies era but I think despite that it will not disappear over night.

But this is the beginning right?that our prayers about cashless society will soon be here .

n0ne

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Quote from: glowing10 on July 30, 2020, 01:52:16 AM

Quote from: Raflesia on July 29, 2020, 01:54:36 PM

I would not assume that cash is rubbish because basically money is everything we can do anything we want right including investing in stocks and crypto initially using cash then deposit into digital money.
The whole world is currently using traditional money, and of course this is more valuable than diamonds or gold, so no matter how great it is investing in US stocks, I think it's useless if it can't be made into cash.

Cash is accepted everywhere in the world though the currencies of each country is different. Also, for something to become like a cashless society it will decades and decades as in all countries you have poor people who do not know how to separate such things or do not have the required facilities as well. So yes, some part of population in the world will shift to this digital money bit still cash will remain in society.

Cash being accepted all around the globe happened as a continuous progress. What we have with the digital economy is something that is technology based and are available with the demand to the supply. Not some part of the world, almost everywhere we can see digital money usage in the future. Confirmation for the same has taken place during the past three months with a big increase of digital money users.

DoubleEdgeEX

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It´s a nice sounding slogan but given the size of the crypto markets we are far away from throwing cash in the trash bin. A real setup could be to claim that Dollar bills spread Covid19, a possible way top force people into a cashless society. I´m certain that won´t happen soon, they need a CB issued and fully controlled digital Dollar first

glowing10

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Quote from: Raflesia on July 29, 2020, 01:54:36 PM

I would not assume that cash is rubbish because basically money is everything we can do anything we want right including investing in stocks and crypto initially using cash then deposit into digital money.
The whole world is currently using traditional money, and of course this is more valuable than diamonds or gold, so no matter how great it is investing in US stocks, I think it's useless if it can't be made into cash.

Cash is accepted everywhere in the world though the currencies of each country is different. Also, for something to become like a cashless society it will decades and decades as in all countries you have poor people who do not know how to separate such things or do not have the required facilities as well. So yes, some part of population in the world will shift to this digital money bit still cash will remain in society.

Decred Arabia

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Quote from: bits4books on July 30, 2020, 01:02:35 AM

Wow you are so cool and smart God! Please tell me more about the fact that money is garbage I'm so interested! Listen do you agree that the state is also garbage and we need to get rid of it? I believe that we should return to the barter system and live in peace and harmony! Damn you just like I honestly did not think that I would meet here the same smart person I'm so happy!

chill out, dude. did you even read his articles or his book. here's a link if you're interesting https://www.linkedin.com/pulse/chapter-4-big-cycle-united-states-dollar-part-1-ray-dalio

bits4books

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Wow you are so cool and smart God! Please tell me more about the fact that money is garbage I'm so interested! Listen do you agree that the state is also garbage and we need to get rid of it? I believe that we should return to the barter system and live in peace and harmony! Damn you just like I honestly did not think that I would meet here the same smart person I'm so happy!

Topic: Cash Is Trash - page 4. (Read 744 times)