Topic: Digital Money = Cashless Society - page 51. (Read 4311 times)
Digital money is the base for the existence of cashless society, because for the growing population the traditional system it is impossible to fulfill the needs of the people. At this time we're not able to readily accept the change, over the years little by little things will change making everything digitized.
What if Bitcoin (and blockchain tech in general) started as a social experiment (possibly by the NSA*) to acclimatize the masses to a cashless society?
* http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
https://www.naturalnews.com/2017-12-10-evidence-points-to-bitcoin-being-an-nsa-psyop-roll-out-one-world-digital-currency.html
https://www.zerohedge.com/news/2017-06-12/exposed-real-creator-bitcoin-likely-nsa-one-world-currency
I know it sounds like a weird conspiracy theory, but think about it for a second...
There's one major hurdle for the Average Joe when it comes to blockchain tech: securing someone's private key. Most people are too negligent and they tend to lose/forget passwords and stuff like that (unless it's too easy to remember).
What's the solution to this problem?
Store the private key (256-bit number) into an NFC chip and inject it into your hand! Sounds familiar?
https://arstechnica.com/information-technology/2014/11/man-has-nfc-chips-injected-into-his-hands-to-store-cold-bitcoin-wallet/
https://en.wikipedia.org/wiki/Number_of_the_Beast
Disclaimer: I'm not a religious person.
We don't know who Satoshi Nakamoto is, but we know that he was a very smart person and he made lots of successful predictions...
If you think this is a conspiracy theory, then try to remember why Steam (most famous PC digital game marketplace) succeeded: PC gamers were acclimatized to digital-only games thanks to piracy (which was condoned to a certain extent) for many years before Steam arrived.
Pls don't shoot the messenger!
* http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
https://www.naturalnews.com/2017-12-10-evidence-points-to-bitcoin-being-an-nsa-psyop-roll-out-one-world-digital-currency.html
https://www.zerohedge.com/news/2017-06-12/exposed-real-creator-bitcoin-likely-nsa-one-world-currency
I know it sounds like a weird conspiracy theory, but think about it for a second...
There's one major hurdle for the Average Joe when it comes to blockchain tech: securing someone's private key. Most people are too negligent and they tend to lose/forget passwords and stuff like that (unless it's too easy to remember).
What's the solution to this problem?
Store the private key (256-bit number) into an NFC chip and inject it into your hand! Sounds familiar?
https://arstechnica.com/information-technology/2014/11/man-has-nfc-chips-injected-into-his-hands-to-store-cold-bitcoin-wallet/
https://en.wikipedia.org/wiki/Number_of_the_Beast
Disclaimer: I'm not a religious person.
We don't know who Satoshi Nakamoto is, but we know that he was a very smart person and he made lots of successful predictions...
If you think this is a conspiracy theory, then try to remember why Steam (most famous PC digital game marketplace) succeeded: PC gamers were acclimatized to digital-only games thanks to piracy (which was condoned to a certain extent) for many years before Steam arrived.
Pls don't shoot the messenger!
Digital Money is not a Cashless Society. Cash is Money and vice versa it's just that it's being virtualized.
Digital money is cashless society. Money will always be there, in electronic form/numbers or paper & coins
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
It is true that in the last decade we have seen the slow transition from the hard physical to the easy digital, not just in money but in all what we do, work entertainment order food, socializing, all thank to the wonders of the technologies our lives have and still getting better and better, but this transition has not been full yet, there are third world countries out there who still have yet to use credit cards and digital currency, there are still a good percentage of the world population who still does not fully really on digitization, but as time goes on and as the new generation starts growing up, we will get there, we will reach a point where the world becomes a big server where only digital money is used and no more physical currencies will exist. Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Digital Money is not a Cashless Society. Cash is Money and vice versa it's just that it's being virtualized.
Ever since bank created credit and debit card to use in our daily lives in exchanging goods and services it really eases the way we transact but to a certain extent. Our daily lives now are so fast and the communication too is so easy to reach from one point to another and so payment need to cope up so I think Bitcoin was made not to destroy banks or any other payment platform though but to solve this kind of thing.
Ever since bank created credit and debit card to use in our daily lives in exchanging goods and services it really eases the way we transact but to a certain extent. Our daily lives now are so fast and the communication too is so easy to reach from one point to another and so payment need to cope up so I think Bitcoin was made not to destroy banks or any other payment platform though but to solve this kind of thing.
Paper money in the future will be inconvenient to use when everything in the future already been contained with almost all the technologies. I'm sure cryptocurrencies one of the solutions for the digital currency. Cryptocurrency is also revolutionizing the economics system and offers a decentralized economics so I believe when the digital currency era begins, Cryptocurrency will take a major part in it.
Although, digital payment or cashless system is a very good initiative that should be encouraged all over the world, I do not think it will take over the world. In many nations of the world, there is still a significant percentage of people who are illiterate and do not understand how this system works.
The use of bitcoin and other cryptocurrencies may increase the level of usage of the digital world but even with that, cash can still not be completely eliminated.
The use of bitcoin and other cryptocurrencies may increase the level of usage of the digital world but even with that, cash can still not be completely eliminated.
It might sound weird but it is a matter of time before they will die and be replaced by younger generation which seems to like the idea of paying with a credit/debit card instead of having to carry a wallet with lots of bills and coins inside. It really saves your time at the checkout. The same thing will be with cryptocurrencies, some people will prefer to stick with their plastic cards whereas their children will use cryptocurrencies instead. It is natural, people get used to things that are with them for a long time.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
In my country, there are some who use digital money in their transactions because they know how to use it and that they earn money from different sources using internet. But the majority of people here don't know how to use computers and accessing this kind of system. Cashless society is good but I don't know if it is possible in my country at this time because I think it will need a thorough analysis and evaluation for the safety of all nation.
The elimination of cash / paper money will likely always have a negative, detrimental, effect upon an economy and civilization/society as a whole. Cash will probably always be a more efficient method of carrying out transactions in some areas. Banning cash has a high potential to reduce the efficiency of how everyday business is done, which in turn has a potential to kill jobs, economic opportunities and otherwise cause recession/economic slowdown.
Eliminating cash further centralizes business and economies. Having electronic money compete with fiat paper money is a better precedent as it invokes greater competition which in turn gives consumers more options which generally translates to elevated standards of living, higher economic prosperity, greater funding opportunities for small businesses which in turn create jobs and strengthen the economy.
Eliminating cash also increases the likelihood of surveillance, manipulation of markets and other negative precedents. It could give banks and similar entities greater control over how consumers spend their money. Crypto currencies being banned for purchase by some banks and investment firms is a good example of this. If all currencies were denominated in an electronic format, this would make it easier for banks to ban the buying and selling of crypto and other things.
Eliminating cash further centralizes business and economies. Having electronic money compete with fiat paper money is a better precedent as it invokes greater competition which in turn gives consumers more options which generally translates to elevated standards of living, higher economic prosperity, greater funding opportunities for small businesses which in turn create jobs and strengthen the economy.
Eliminating cash also increases the likelihood of surveillance, manipulation of markets and other negative precedents. It could give banks and similar entities greater control over how consumers spend their money. Crypto currencies being banned for purchase by some banks and investment firms is a good example of this. If all currencies were denominated in an electronic format, this would make it easier for banks to ban the buying and selling of crypto and other things.
But cash and digital cash are fungible and completely interchangeable already. You swap one for the other every time you interact with an ATM, either putting money in or taking it out. Cash and digital cash don't compete with each other, they function interchangeably. (Unless by digital cash, you mean Bitcoin/crypto, which isn't digital cash at all. Crypto is a competitor to digital cash.) But otherwise, I agree that eliminating physical cash entirely has drawbacks. If all currencies were denominated in an electronic format (only), I don't think it would have much impact on buying/selling crypto, because virtually nobody exchanges crypto for physical cash anyway. It's almost entirely done with electronic cash right now.
Here in philippines many people heard about bitcoin but they still think that its a scam, and that news becomes music to business owners and become a reason why people here are still scared of it. But i read from some websites that there is a restobar somewhere in Mandaluyong that accepts bitcoin as a payment, and also a coffee shop in Davao. Means, business owners are starting to embrace digital currency. And hoping that others will do the same. However, here in our province, bitcoin is only popular among students and most of them use bitcoin as a source of income. There are some who used to have a lot of bitcoin accounts to earn more from campaigns. It is indeed popular to students, but not on business owners here in our island. Thats why inorder for us to use our bitcoins, we need to convert it first to fiat and cashout it from a money exchange shop.
my country attend G2 confereence and the vote is "Netral" , i think its good enough because last 3-4 month the goverment said will ban crypto
im just glad about that
im just glad about that
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Digital money in my country is not yet that popular. Maybe in the next year's to come, cashless society will be effective. But as of now being cashless is not yet accepted by some of my countrymen because of lack on knowledge how to handle online transactions.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
I don't think so because I already seen other chinese not yet like that they are not yet totally cashless there are still some of themnot yet like that. Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Paper money is slowly becoming a thing of the past. Their place is occupied by digital money. The time when developed countries will completely give up cash has already come. But should we give up cash forever? Cash calculations are not perfect, but the non-cash society faces a number of problems that are very hard to overcome: hackers, incompatibility of payment systems, lack of confidentiality, careless handling of money. Cashless settlements do not eliminate cash problems, but create new ones.
Although, digital payment or cashless system is a very good initiative that should be encouraged all over the world, I do not think it will take over the world. In many nations of the world, there is still a significant percentage of people who are illiterate and do not understand how this system works.
China, a country with some 900,000,000 internet users cannot be illiterate.
Although, digital payment or cashless system is a very good initiative that should be encouraged all over the world, I do not think it will take over the world. In many nations of the world, there is still a significant percentage of people who are illiterate and do not understand how this system works.
The use of bitcoin and other cryptocurrencies may increase the level of usage of the digital world but even with that, cash can still not be completely eliminated.
The use of bitcoin and other cryptocurrencies may increase the level of usage of the digital world but even with that, cash can still not be completely eliminated.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
I already know that china is a cashless mode of payment I remember last year when MR. JACK LAM which was founder of Alibaba came here in the Philippines which was promoting a cashless method for Fastest way of payment for Filipino but they convinced first to make an additional High Electricity and High speed Internet facilities to do this things making cashless in every transaction.
In my country central bank has accepted recently and approved the rules and regulation of government operation from virtual currency exchanges defines that its used from medium exchange of digital stored value created by agreement with the community ,according to us the potential of digital money has revolutionize delivery particular for payments and remittance such us domestic and international remittance at economically fees and more faster without needed other papers to released during process,
My prediction is tomorrows digital world will be a cashless world. Now people are too much busy with their personal life. At present time it is so tuff to go bank and take cash money for spent. i think in all sector like, school, college, shopping, traveling, tourism all will accept cashless currency in near future. Just wait and see.
Applying the concept of cashless society is not as easy as we imagine even if using bitcoin, because a lot of infrastructures are needed. We need hardware, software, internet and government regulations that allows people to use digital money. If the digital money is not cryptocurrency then it will be dangerous because digital money is only data, hackers can hack that and the transparency will become a big questions. Countries which want to applying the concept of cashless society should use cryptocurrency that is backed by real asset which is gold.
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