Topic: China says rejecting physical cash is illegal amid e-payments popularity - page 2. (Read 6542 times)
May 04, 2019, 11:06:04 AM
I think China sees a very good opportunity from the existence of digital currencies such as cryptocurrency, they are the people of China always give appreciation and full support when there is new technology created so that it has become natural if the country of China began to do that.
May 04, 2019, 10:00:29 AM
This is something that is understandable offcourse.
The only decision of China that I agree with , physical cash is very important , you cannot just take your cards everywhere with you even when you are going in street spree .
This is really helpful for the people who are old , or the young kids who doesn't really have any connections to the e market.
It's a harsh truth but we are taking away their freedom doing this * doing everything online *
This is good what they did.
The only decision of China that I agree with , physical cash is very important , you cannot just take your cards everywhere with you even when you are going in street spree .
This is really helpful for the people who are old , or the young kids who doesn't really have any connections to the e market.
It's a harsh truth but we are taking away their freedom doing this * doing everything online *
This is good what they did.
May 04, 2019, 02:50:35 AM
I think the decision is reasonable. National currency should be accepted whatever its form. China's government in this case is very protecting their citizens rights. Spirit to become cash less society is not meant that we pretend that cash money ignorance is right thing.
May 04, 2019, 02:40:19 AM
It is actually good for the citizens. The problem with (fiat) digital payments is that they enable the authorities (and even criminals) to track us. They can see how much each individual is earning and where this amount is being spent. Crypto payments have the advantage of added anonymity, but digital fiat payments doesn't have that option.
May 04, 2019, 01:36:20 AM
I do agree with the officials, i like digital money but nobody can reject payment with physical money.
indeed payments using physical money will still remain and it will never be eliminated, transactions using digital currencies are only alternative payments. 
May 04, 2019, 01:28:50 AM
Maybe they like more and can control better their printed money, and maybe is more confortable for they to use cash money, is their choice and we can't do nothing but just use cash when travel there where is not possible to pay with card.
of course this will apply to the elderly, because they are more difficult to keep up with the times. but if the majority experience the same thing, of course cash is still a prima donna, let alone get support from the government
May 03, 2019, 11:59:39 AM
I do agree with the officials, i like digital money but nobody can reject payment with physical money.
May 03, 2019, 11:50:28 AM
Maybe they like more and can control better their printed money, and maybe is more confortable for they to use cash money, is their choice and we can't do nothing but just use cash when travel there where is not possible to pay with card.
of course this will apply to the elderly, because they are more difficult to keep up with the times. but if the majority experience the same thing, of course cash is still a prima donna, let alone get support from the government
May 03, 2019, 07:58:01 AM
Maybe they like more and can control better their printed money, and maybe is more confortable for they to use cash money, is their choice and we can't do nothing but just use cash when travel there where is not possible to pay with card.
of course this will apply to the elderly, because they are more difficult to keep up with the times. but if the majority experience the same thing, of course cash is still a prima donna, let alone get support from the governmentOf course China would upheld its fiat money over digital payments platforms since its their tool for currency manipulation as per allegations by other countries such as the U.S. who had been affected by those tactics. Also, they are thinking that China maybe bent on printing a lot of fiat money to help its goal of world dominance and the international community knows about that and is calling for its reform in its economic policy.
May 03, 2019, 03:49:06 AM
Maybe they like more and can control better their printed money, and maybe is more confortable for they to use cash money, is their choice and we can't do nothing but just use cash when travel there where is not possible to pay with card.
of course this will apply to the elderly, because they are more difficult to keep up with the times. but if the majority experience the same thing, of course cash is still a prima donna, let alone get support from the government 
May 03, 2019, 03:29:55 AM
I have never thought that I would agree with china but they are kind of right here. If you are not accepting cash that is a bit of a problem, I am not saying don't take bitcoin, by all means take bitcoin as much as you want and hopefully everyone will use bitcoin and nobody will give you cash but "rejecting cash" is not the way to go if we want bitcoin to go bigger.
Think of someone who has cash but doesn't have bitcoin and want to buy something from you and you tell them they need to use bitcoin to buy it and not cash, that person will not be capable of buying the product and will probably hate bitcoin for it for no reason at all.
I think that is why going hand in hand for now is the way to go since it would both create awareness and it would still allow things to run as it always did for a little more while.
We just need to accept both and stop discriminating them to avoid unnecessary issue with the government. I agree with all your points, cash will always be needed also, there are some things Think of someone who has cash but doesn't have bitcoin and want to buy something from you and you tell them they need to use bitcoin to buy it and not cash, that person will not be capable of buying the product and will probably hate bitcoin for it for no reason at all.
I think that is why going hand in hand for now is the way to go since it would both create awareness and it would still allow things to run as it always did for a little more while.
Cryptocurrency cannot fully solver, there are some villages worldwide that does not even have the technology to do so, so how do those people survive if government imposes cryptocurrency and scrap cash, both are useful in their own way, bitcoin will be more useful to people like us that are technology inclined. Government may legalese cryptocurrency to be an alternative tool of payment but we still need cash for it to function well.
May 02, 2019, 02:40:41 PM
Maybe they like more and can control better their printed money, and maybe is more confortable for they to use cash money, is their choice and we can't do nothing but just use cash when travel there where is not possible to pay with card.
May 02, 2019, 02:15:55 PM
Definitely is a true statement because physical currencies are the important thing for everyone so it will need to be came for a long period of time then only it will be giving the hands to everyone who are in the down situation
May 02, 2019, 01:08:51 PM
The future looks very scary with how fast technology is increasing. Eventually the government will know every single thing about us and getting rid of cash is only the beginning.
if you say that technology in the future will be even more terrible, it seems to be true because with the development of technology everything becomes digital and there will be a lot of artificial intelligence so that it will become a double-edged knife ready to fight back, stay alert to the technology created in the future better front.There can’t even be a successful technology without the support of the government, so in everything we do in cryptocurrency, we still need the support of the government and cash is still their choice of payment, so we should not enforce it on them, we can just secretly be operating the crypto system till it gets across the entire universe.
May 02, 2019, 02:35:29 AM
The Chinese government has acted wisely, warning that they should not abandon the use of cash. Cash and their non-cash forms of payment are a reflection of the state of the country's economy and if the cash of states is not used, it will adversely affect the economy of any state. It is not worth quickly destroying what humanity has been working for centuries and millennia. We are not as smarter than our ancestors, as many have suggested.
Cryptocurrency can and should go in each state only along with national currencies, otherwise there will be very big problems and then the cryptocurrency in general can be banned by all states. Everything needs a sensible approach.
Even satoshi that created the cryptocurrency never intend it to take over cash that is why he simply stated it as an alternative means of making payment, which he must have seen too that it will be absolutely impossible. So there is no point in creating issue where there Is no issue, there can’t be cryptocurrency without cash. How is that even possible, how do we get crypto without first changing FIAT into cryptocurrency.Cryptocurrency can and should go in each state only along with national currencies, otherwise there will be very big problems and then the cryptocurrency in general can be banned by all states. Everything needs a sensible approach.
The only threat I just see to cash is that crypto will be more used for payment transactions because of its fastness and none involvement of third party in it transaction.
May 01, 2019, 04:17:06 AM
The future looks very scary with how fast technology is increasing. Eventually the government will know every single thing about us and getting rid of cash is only the beginning.
if you say that technology in the future will be even more terrible, it seems to be true because with the development of technology everything becomes digital and there will be a lot of artificial intelligence so that it will become a double-edged knife ready to fight back, stay alert to the technology created in the future better front.
May 01, 2019, 03:01:49 AM
I have never thought that I would agree with china but they are kind of right here. If you are not accepting cash that is a bit of a problem, I am not saying don't take bitcoin, by all means take bitcoin as much as you want and hopefully everyone will use bitcoin and nobody will give you cash but "rejecting cash" is not the way to go if we want bitcoin to go bigger.
Think of someone who has cash but doesn't have bitcoin and want to buy something from you and you tell them they need to use bitcoin to buy it and not cash, that person will not be capable of buying the product and will probably hate bitcoin for it for no reason at all.
I think that is why going hand in hand for now is the way to go since it would both create awareness and it would still allow things to run as it always did for a little more while.
Think of someone who has cash but doesn't have bitcoin and want to buy something from you and you tell them they need to use bitcoin to buy it and not cash, that person will not be capable of buying the product and will probably hate bitcoin for it for no reason at all.
I think that is why going hand in hand for now is the way to go since it would both create awareness and it would still allow things to run as it always did for a little more while.
April 30, 2019, 02:14:29 AM
This is a normal reaction of the state. which protects and will protect the use of its national paper money. Cash will always be in demand and will always go along with other types of means of payment. As long as states exist, until then there will be their cash paper money. In addition, the poorest strata of society and citizens with various health flaws will always support the circulation of cash.
Of course, in any country circulation of cash is a necessary condition for the successful development of the economy. The faster the turnover of cash, the stronger will be the economy of the state.Therefore, each state will protect its national cash. Non-cash forms of payment may sometime replace cash, but this requires a highly technological development of a high-income society. I do not know whether we have ever achieved such a level of human development.
April 30, 2019, 01:33:03 AM
The Chinese government has acted wisely, warning that they should not abandon the use of cash. Cash and their non-cash forms of payment are a reflection of the state of the country's economy and if the cash of states is not used, it will adversely affect the economy of any state. It is not worth quickly destroying what humanity has been working for centuries and millennia. We are not as smarter than our ancestors, as many have suggested.
Cryptocurrency can and should go in each state only along with national currencies, otherwise there will be very big problems and then the cryptocurrency in general can be banned by all states. Everything needs a sensible approach.
Cryptocurrency can and should go in each state only along with national currencies, otherwise there will be very big problems and then the cryptocurrency in general can be banned by all states. Everything needs a sensible approach.
January 27, 2019, 12:48:24 PM
If we hope for a cashless society, it only applies to elites, while currently in some cases there is still a lot of poverty even in urban cities, this is reversed to face the current situation, cashless people will do the transaction with cashless people. Meanwhile some cash users are just getting harder to face this case
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