Digital Money = Cashless Society - page 53.

First77

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Quote from: MainIbem on March 25, 2018, 04:39:31 PM

Going cashless where I am is not for now. It is not because the people don't like it but because of lack of infrastructure to go cashless.

People just need to have a bank account and shops/stores need to have a POS machine for the country to go cashless. Should not be difficult.

AimHigh

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Yes we are in the time of improving and implementing cashless society and we already have digital money so that if cryptocurrency was totally use by each and everyone the paper money was replace and we already have using digital. Even some of country didn't want to accept or reject the cashless society they didn't stop growing and growing the digital money.

First77

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Quote from: kimochidesh on March 25, 2018, 05:39:37 PM

I believe paperless currency using on the internet in any form is digital money. Transactions made via credit/debit card or any other means like Bitcoin etc are a digital transaction which completes a trade. I support cashless economy because it is eco-friendly and easy to use.

In a country like India it cost $4,000,000,000 to $8,000,000,000 to print a completely new set of currency notes. Money printing by Central banks/governments costs money

kimochidesh

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I believe paperless currency using on the internet in any form is digital money. Transactions made via credit/debit card or any other means like Bitcoin etc are a digital transaction which completes a trade. I support cashless economy because it is eco-friendly and easy to use.

kenelmark

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Quote from: First77 on March 25, 2018, 12:27:41 PM

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 ??

that is less cash society, not cashless society. technically, the cash is transferred by the bank that doesn't mean no cash in the society. cashless society is impossible thing, because it always needs internet every where every time with not every people has internet access or knows to use it like countryside villagers in my county. not every people has credit or debit card.
bitcoin still does not take a part of this society, because it is not that familiar moreover its volatility, even not a legal currency.
I think it's the same in most countries.

CuteBaby123

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Quote from: First77 on March 25, 2018, 12:27:41 PM

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 ??

What about if you go to the market and buy two pieces of bread or egg, would you use debit card or the vendor accept debit card? If you buy a street food, would you use debit card or credit card in your country? Cashless society may possible but the existence of physical money is still existing. In my country, we prefer paying and buying through the use of physical money.

MainIbem

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Going cashless where I am is not for now. It is not because the people don't like it but because of lack of infrastructure to go cashless.

pixie85

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I think cashless society is vulnerable in many ways. You don't have anything to trade if you ever go outside of the internet range. If you've ever travelled you know how easy it is to get into a blind spot where your phone doesn't work. And in such spot your internet won't work too. They won't have card terminals and you won't be able to buy fuel for your machine or a bottle of water. It's too early to try to live in a cashless society.

vintages

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In my state, its almost same as China but there are still many offline stores that collects cash from their customers. Here, there are many people who stops or opt-out from using the credit cards because according to them, it makes them spend more. You don't blame them though, everyone have their preference. I don't think the world may adapt or become a cashless society.

senin

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Digital crypto currency is inherently non-cash money. Non-cash ordinary money and crypto currency will gradually displace cash. However, this process is very long. Undoubtedly, in the very distant future we will come to a completely cashless society. However, with our life with you this is unlikely to happen.

jaysabi

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Most money in the world is already digital and it has nothing to do with bitcoin or crypto. Digital fiat is how the majority of things are paid for and how the vast majority of money exists in advanced economies. Crypto is just a subset of the digitalization trend that has been underway for several decades already. Ever since checks started transferring money from one bank account to another without necessitating the movement of physical fiat, digital money can said to have been in existence. It's just now that the digital system is much faster and larger, with ACH, credit/debit and other forms playing into the system. When you consider that these are more stable mediums for transferring value, I sometimes wonder why there is so much hype around crypto. Crypto may edge it out in fees and perhaps speed, but the risk of massive price swings is a huge detriment to me.

tora

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The cashless society is happening regardless of bitcoin. In some countries older generation are wary of electronic transfer but the younger generation are almost cash free. As more online and traditional retailers accept bitcoin then bitcoin will become main part of cashless society.

bitcad4u

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Quote from: First77 on March 25, 2018, 12:27:41 PM

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 ??

Yes .Bitcoin is the digital money and which leads to the cashless society.
Online payment made the world easier.Now we no need to go to stop to purchase,we can get from the home.
This is possible by the acceptance of online transcations. Now bitcoin is accepted as a one of the payment.People are now earning money from the Internet now.

interna

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Quote from: First77 on March 25, 2018, 12:27:41 PM

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 ??

That really seems like a good scenario but will not happen worldwide especially in poor countries. In my country also, the government tried to encourage digital transactions by giving incentives to people. People also used the digital options like debit cards to get those incentives and later all this stopped automatically. We are back to cash now. Also, there is very much illiteracy here in villages. Rural people are not able to even withdraw money from the ATMs even and have to take help of other people for this.

richjohn

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In my country, the adoption is still pretty low. In 2016, government had introduced demonetization to curb black money and promote digital transactions, but it wasn't really a success. Once the cash came back in market, people began moving to the offline modes. However, the use of digital currencies is more evident in metropolitan cities. A large percentage of people in my country still live below the poverty line and I doubt that a country can ever be completely cashless.
Cash has its own merits which cannot be replicated by digital currencies. Bitcoin is definitely a new digital currency, but it will take years before people adopt it.

wantjokull

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That is fairly true but 99% countries are still using the cash as mode of payment. The cash is necessary because the digital payment processors has not reached in every corner of the world or regions per say. There are still small merchants, hawkers, people those sell road side, or may be some transaction that are usually require to pay in cash. We can not ignore the fact that government will never stop printing the cash anytime sooner and this trend will go on forever. It's hard to imagine any country with no cash at all because somewhere somehow we do need cash and that is the fact.

sheenshane

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Well technically, digital money here our country will slowly adapt to the people here and not only by that and also cryptocurrencies.
We have a blockchain base wallet here that we can be received bitcoin and convert to fiat named is Coins.ph, this is also may use in paying bills, have a load in a mobile phone. Or other instead they went outside to send money in remittance to their loved one. Through this, a digital money that used the internet connection to process your request and it seems like bitcoin process.
Cashless right?

dead_m92

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Well, that is all what we want right now, i love to use debit cards, they are very attractive and you do not have to carry with cash on your pocket, so for me, it was one of the best things that i have used before.

but yes, now with cryptos is much more better than before, because you might have more money if the price goes up.

Quote from: Harlot on March 25, 2018, 02:34:12 PM

Even before Bitcoin existed we are living in a semi-cashless society because of credit cards, debit cards, and other online payments like Paypal. I could say "semi" because all of it still uses its Fiat currency equivalent like when you are buying shoes for 100$ you will be paying 100$ + transaction fees for the purchase, Bitcoin as well is the same, you are paying the amount of Bitcoin equal to 100$. Our mode of payments now are cashless but all of the values are being based on Fiat currency so technically we are not living in a cashless society as our Fiat currency still exist together with other modes of payment.

supine

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Quote from: First77 on March 25, 2018, 12:27:41 PM

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 ??

Bitcoin can also be considered a digital currency since it can be used in transactions and other services. In our country only a few are using credit cards, debit cards and cryptocurrency since only a few can afford to pay it. Cryptocurrency users in our country is starting to increase as it is getting a lot of attention since a lot of people are earning a lot from it.

Harlot

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Even before Bitcoin existed we are living in a semi-cashless society because of credit cards, debit cards, and other online payments like Paypal. I could say "semi" because all of it still uses its Fiat currency equivalent like when you are buying shoes for 100$ you will be paying 100$ + transaction fees for the purchase, Bitcoin as well is the same, you are paying the amount of Bitcoin equal to 100$. Our mode of payments now are cashless but all of the values are being based on Fiat currency so technically we are not living in a cashless society as our Fiat currency still exist together with other modes of payment.

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