If you talk about the poor, I think we will always need physical money for them. As there are still many people below the poverty line which cannot afford food for a day, it will be very expensive for them to have devices for virtual money. Either government should provide them facilities or virtual currency system this cannot be implemented.
I just do not understand How poor people will be able to realize all their needs if the world comes to electronic currency. This is practically the first step toward their extinction. We must take care of the unprotected strata of the population. 
Topic: Is an economy without physical money safe for the poorest? - page 4. (Read 3645 times)
If you talk about the poor, I think we will always need physical money for them. As there are still many people below the poverty line which cannot afford food for a day, it will be very expensive for them to have devices for virtual money. Either government should provide them facilities or virtual currency system this cannot be implemented.
Yes, in a situation where we don't have physical money, hackers will be best friend to have and for the population of the poorest it will be hard for them to do their day to day activity because they will the internet and of which they afford a computer.
It's a scary scenario, but not that far removed from today.
Everyone would need to have some type of basic electronic for transacting. Even the homeless.
Everyone would need to have some type of basic electronic for transacting. Even the homeless.
I gree with that Bitcoin is very techy currency, it involves knowledge about technology and access to it. If a person is not into it how could he or she possible to have his or her own salary to this, just like to the less fortunate people if physical money will be non existent how could they possibly earn if there are not familiar with Bitcoin?
Its too unfair especially to the poor people because not all the people can afford to buy a device for using this new technology and for sure not all the people do not know how to use it, I think the problem that we face if that happen basically the system will become centralized and it may lead to corruption.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
I think without physical money is safe for the poor. In our country not everyone is a computer literate and there are even places that does not have electricity and computers. Internet is also costly that not everyone can afford it. Meaning poor people only use the physical money.
An economy without physical cash isn't alright for poor people. Honestly, the vast majority of them say that it will be an incredible thought. However, you are a destitute individual in the not to modern country or city a significant portion of the general population doesn't have a knowledge and ability to use some computer and some cryptocurrency.
I do not think this will happen. if that happens, of course the government is already thinking about how to overcome it. so this does not affect the occupants of each circle. except for the ignorant and lazy. because not everyone who is poor is stupid and has no ability.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
I think it is safe but would be too impossible to make it happen. Poorest people here in our country also didn't have enough education about the edvanced technology and so as the use of computer so I think it would be really hard for them to access bitcoin without enough knowlege. Physical money is still necessary for them.
For a good economy and prosper economy physical money is important and through paper money the future is safe because the money is physically existed and it is with you at home so the country is bound to to receive the paper money which they printed while in the other currencies you can not bound any one for that and the paper money is good for the poor people as well.
In any condition there is not any safe place for poorest guys. Unfortunetely there is no more or less safe condition.
In my opinion, I think it is not that safe. It also has advantage and disadvantages especially to the poorest people. Even if we are now living in a digitized world, we have to admit that not all people have knowledge in cryptocurrency and not all people can afford to have a savings account. People in urban community will still need physical money over cryptocurrency, it is more safer and easy for them to use on their daily living. We have to face the reality that there are still this community that doesn't have a source of electricity and no internet connection. Living in a place without physical money will be more difficult for the poorest people.
I think it's not safe at all, it's risky and unpractical. We as a society and generation are well adapted to the
use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
That’s true bro. We have adapted to the use of fiat and changing fiat will be very difficult, not even just difficult but impossible. You can’t change it, all you can do is invent ways that will make transactions easier, safe and faster. Just like Bitcoin, it is an asset (a digital asset) but we still use it to make transactions and then withdraw them to fiat and it is also fast and safe too (though I’m not sure if the safety is 100%) an economy without physical money won’t be in favor of the poor ones.use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
I think it's not safe at all, it's risky and unpractical. We as a society and generation are well adapted to the
use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
That’s true bro. We have adapted to the use of fiat and changing fiat will be very difficult, not even just difficult but impossible. You can’t change it, all you can do is invent ways that will make transactions easier, safe and faster. Just like Bitcoin, it is an asset (a digital asset) but we still use it to make transactions and then withdraw them to fiat and it is also fast and safe too (though I’m not sure if the safety is 100%) an economy without physical money won’t be in favor of the poor ones. use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
It’s in no way safe for them. What did you call them, the poor right? Since the are poor, they will in no way be able to make use of Bitcoin because they can’t have access to it, due to other having the required gadgets that does that. BTC cannot be a currency, cause it doesn’t have the qualities of a true currency; real currencies can be used both online and offline. When using fiat, you’re able to use it online and offline; there are mobiles apps that allows the use of fiat online just like your bank mobile app or PayPal, Payza and the rest of them.
An economy without physical cash isn't alright for poor people. Honestly, the vast majority of them say that it will be an incredible thought. However, you are a destitute individual in the not to modern country or city a significant portion of the general population doesn't have a knowledge and ability to use some computer and some cryptocurrency.
It is hard to imagine a world without physical money but in the future we cannot avoid it although maybe there are still come small physical money in circulations especially in the poor sector.
It will happen soon in the future.... Though if it happen it will be the worst effect of digitalize currency because what if the person is not literate and have no idea about crypto they will be get affected by this but.... As human we need to learn everything just to survive its part of our lives if we want to live we will seek for it... But it is very sad to imagine other who cant cope up with the rapid changes of the world...
I personally can not say if it will work well because I think not everyone will be able to fully understand the activities of transactions or other activities with a method that uses digital currencies, especially in countries where the economic level is not good.I think to do that is not as easy as what you think it is necessary for the construction of facilities and infrastructure and a detailed understanding of digital currency to all levels of society, especially those with the majority who have very little income.
As long as all if the people in the future is technology literate, there wouldn't be a huge problem for these people in a market run by digital currency. Because if this so happens then their respective country's government would categorize a personal digital currency regulator as one of the basic human needs of these people, therefore the government of these countries will be the one to provide it for everyone.
But that is a huge if man, just look around you may think that people of this era are technologically literate but that is not the case, people know how to use their phones to navigate and be able to send some text messages but that's all they do, they really do not know about how the technology works and we cannot expect that people will know that in the future.
For many people who don't know the digital cryptocurrency!
Because digital cryptography is not physical, they can't see it, they're always worried!
They are reluctant to accept BTC's ideas, which is part of their poverty.
Because digital cryptography is not physical, they can't see it, they're always worried!
They are reluctant to accept BTC's ideas, which is part of their poverty.
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