Topic: Cashless society - page 68. (Read 36273 times)

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

I agree that rare counties are unknown about internet and computer technology and most of the world is well known to these technologies, but I would like to mention here that providing facility and understanding and become educating people are two different factors. A country would provide facility of internet and computer to people soon but educating masses completely will take decades. It is possible that developed countries may able to introduce cashless society somewhere in their countries.

     In my opinion, I do not want to come in the cashless society because we are usually use physical money to purchased items, yet bitcoin can use as payment in an online shop who accept it as a payment and if ever we come to cashless society, I think the older people is getting hard to adjust because of there knowledgeably in using internet because of there age.

We already live in a nearly cashless society...and we that's in fiat (forget bitcoin for a minute!) What transactions do you actually need cash for? The only one's I can think of (legal transactions) are to tip a valet guy or pay for a beer from the guy walking the aisles in a sporting event. You don't need cash at all! You can pay for parking at a meter on the curb without cash.

The future is here, baby!

The only thing I don't like about the current cashless society we live in is that to facilitate all those electronic transactions someone is in the middle getting paid a small fee...it's a toll to move our money around...every single time.

What Bitcoin does is reduces that fee and allows me to control who gets its - do I want to pay an exchange more for some convenience? do I want to pay the miner less and directly if I choose to take a more active role in my transactions? It's all my choice...and that's how it should be!

Most banks have it so backwards these days. They don't pay interest on savings. They charge you a fee or require you hold a minimum amount of money on hand to get an account. It's counter to all sound principles in the world of business and risk/reward management. Banks that don't treat customers fairly should be abandoned for good. They aren't really needed.

A good point is that you may not even need internet to transact bitcoin. Maybe if you have the weakest of signals, that's all you need to verify a private key's balance. I think in the future, infrastructure will be much better and internet connectivity will be extremely fast, stable and available.

There is no doubt that the internet is a game changer. It is still changing our ways of life now.

True. Most so called third countries have this problem, dont think that is most of the part in the world this can be done but for those countries that are still relay on paper money it will be very hard to adopt and to accept changes in there monetary system. Eventually it will come to this, like mentioned here making paper money is expensive. There for it will only take that all government be united in this not just big economically strong ones.

Cashless society is not really a need for the future. Cash is essential, and we can no longer get away from it. The idea of making society cashless is good, this may cause reductuon of crime and corruption. I believe that it is not impossible to be a cashless society through the implementation and aid of the government but i dont think so that it must be done. Having cryptocurrency and cash at same time is more idealistic than choosing either of the two. The future does not depend on what means of buying and selling, it basically depends on how to make buying and selling easily done. Cashless society is possible but its not necessarily needed.

Do you think so? Not me, simply because before it will happen world must acquire free and a faster internet, which people may used for transactions, and its kinda hard, no one will shoulder that enormous amount of expenses, so I think it will be better if paper and digital crypto-currency will merge together for easy transactions and trading as well.

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Indeed the society in the future will not need paper currency but they only need digital money, to require digital money they need universal free internet access, then as a developed country must meet the people in accessing the internet for free.

Forget about the Internet connection problem. Even with full transparency, people will still have a way to have illegal transactions. How? They will hire people to do it for them. We do have a governor in our country that has scammed the whole nations billions of money and what she did was divide the money to her employees. She sent some money to her driver, her maids, her family, and so on. This way, there will be smaller denominations in their accounts and it wouldn't look as shady as someone who all of a sudden received billions of dollars in her account.

What I'm trying to say is that there's no perfect monetary system. It will always have a flaw and people will always find a way to get through it and continue doing their illegal transactions.

Because old people were not having that knowledge what are we expecting from them right now while new generation is directly getting the advantages of these things now and learn these things in the grade 1 to Ph.D. so I would like to say that comparison of old and new is bullish we should say that old people were too old therefore they didn’t accept the plastic cards.

But believe it or not we still end up using our own Fiat Currency, for example even if Credit Card is widely accepted now we still end up using our fiat currency to pay our bills from our credit card transactions. Also Bitcoin's value is based on Fiat Currency there is no changing that because we as the investors give it an equal value to our real life currency. I want to agree with you but turning our world into a cashless society will just complicate rather than solve anything. But making Bitcoin as a payment option is always welcome for a change.

It cannot solve or minimize the certain illegal activities on the society since if this one will be implemented I think syndicates or bad headed guy may have good stuff to be used so that they will not be easily traced out by authority. Remember BTC is been used by those abductor/criminals so that they can make their deals became successfull and anonymous and they will not earn a sweet for lifting some huge money since digital moneys can make their life easier.

in this new era of digital world cashless society is quite acceptable but transaction limited only through internet stream it is either centralized or decentralized. bitcoin ecosystem is one of the greatest example of cashless society only if no fiat exchanges intervenes.that's the real concept of cashless society.in a real world situation is hard to adopt the cashless society it is only applicable to highly develop countries where internet access is highly secured unlike to less developed country where internet security is very vulnerable and it is prone to digital theft.

Cashless society is an ideal way to solve or at least minimize the illegal doings of some people thanks to blockchain technology in which the records are in public so there is transparency in all things. This ideology is still far from reality because even if the internet is still not accessible by every one. To be able to connect online, you still need an internet and some parts of the world don't even have an electricity so unless the basic necessities are met then this cashless society cannot be totally implemented.

I don't think that can be possible I mean crypto currency requires technology not every people in the society can adopt, we know the fact many people don't have the chance to access internet beside I don't think bitcoin can provide enough supply to circulate in the market..It is more realistic that many will use cashless payments when doing their regular transactions but definitely not all.

I have watched on news on social media today that there's a company in USA with 50 employees that are implanted with a microchip. That chip has their money, they don't have to swipe or withdraw cash on their banks. This is now the start of this technology sooner or later this will be implemented through all the countries.

The cost of printing fiat is less than a cent for the paper and ink required, yet once it's finished, it's worth say $100.  It's probably the lowest cost possible to get $100 out of thin air.

For less tech savvy people, or older people who don't want change, there will just need to be a user interface that is super easy to use.  The same way that old people have gotten off dial up internet, or rotary phones.  What can be easier than tapping a card or phone on a scanner and having the payment go through.  Once it's part of everyday life for the tech savvy and younger crowd, it will be more trusted and adopted by the rest.

Not just old people, but many people in different parts of the world where the internet is still rare and technology is not so popular in the country, maybe in many poor countries they are not too familiar with the plastics card let alone non-cash currency. Of course they will not be able to accept cashless at this time