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.
Topic: Is an economy without physical money safe for the poorest? - page 5. (Read 3658 times)
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?
Well, as for nowadays. What's keeping robbers from the bank robbery in order to get a cash? Even if it happened now, who would be suffer the loses? Similarly, in your future. Hackers will steal a certain amount of DIGITAL money. So what?
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?
for me thsi crypto is for all rich people only not for poor but its more good if rich people gets a lot of money here and then they will give it to poor people i thinki this is more good than to claiming this to build their want like house or buying some lamboo and i think this cryppto is so dangerous because this is like a bubble it always changing. 
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.
It's just a guess that everyone has their own way of life.
Money is the same, as long as it exists, and not every currency will be what you think it will be.
The dollar will exist, the pound will exist, encryption will exist, they will live in this world, of course if there does not exist, it has been eliminated, this is the world.
Money is the same, as long as it exists, and not every currency will be what you think it will be.
The dollar will exist, the pound will exist, encryption will exist, they will live in this world, of course if there does not exist, it has been eliminated, this is the world.
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 dont think it will work with the poorest because even gadgets and internet is they dont afford, how they can have money if it will be digital? they cant have it, it will be a big change for them if the money would be digital because they dont know how to use it and its so hard for them to have money if its not physical money.
Provided that the users have at least good amount of knowledge about digital currency most especially bitcoin itself, there wouldn't be much of a problem even for the homeless. i'm sure that when the future for bitcoin comes it would be a basic necessity for all people to have the technology where they can regulate their virtual money. And I'm sure the government would provide it for the people themselves.
The thing is, if they are categorized as poor, it is sure that they will lack such gadget required to use for the digital currency. Especially that they can not afford the use of internet as well. For them, instead of prioritizing those kind of things, they will just opt to buy food for themselves or their families.
In case the problem occurs, government support have to be well implemented.
Yes you're right it is not applicable for the poorest unless the government will provide them gadgets for free and internet for free. So for me economy is not safe for the poor or the poorest without having a physical money.
Provided that the users have at least good amount of knowledge about digital currency most especially bitcoin itself, there wouldn't be much of a problem even for the homeless. i'm sure that when the future for bitcoin comes it would be a basic necessity for all people to have the technology where they can regulate their virtual money. And I'm sure the government would provide it for the people themselves.
The thing is, if they are categorized as poor, it is sure that they will lack such gadget required to use for the digital currency. Especially that they can not afford the use of internet as well. For them, instead of prioritizing those kind of things, they will just opt to buy food for themselves or their families.
In case the problem occurs, government support have to be well implemented.
Well in my perspective, if every money becomes digitalized, it will lessen the percentage of the poor and especially the beggars. If that happens, it will be impossible to give alms to the beggars because it is quite bizarre to see a beggar askimg for coins holding a smartphone. They will be forced to find a job or to do something to get out of that situation. And I think it is a good thing because it will help them help themselves.
by the time this thinking can be realistic, it would have been so that even beggars are beggig digitally
Digital currency can easy acces by an educated person and to those who have knowledge on it.If physical money would be gone the poorer would be so poorer because they cannot afford mobile phone to buy their needs.Its like a fiat and nothing will change if a person cannot work hard they cannot become successful.
I see the safety question as more relevant in the context of access - would poor people have access to these Technologies in the first place, would they be able to take their technology to be repaired if something goes wrong? These questions worry me
i think it should not happen that all the fiats are replaced by the digital currencies. there should exist the fiats too for he bpl listed persons
it would cause a serious crisis in the global poor platform. they will be unable to beg and lead their life
With every advantage, there comes some disadvantages too. We have different types of people in the whole world. Some are very rich, some are rich, some are medium, some are poor, so many are so poor, and the majority is much poor. We have such categories and so far bitcoins have been facilitating only first two or three forms. But other will definitely be disturbed in other case. I don’t think it is safe for the poor. Why I’m saying this is because these people don’t live a life like we do and they don’t even have the things we have. If physical money is to be removed, then they will suffer till hunger sends them to an early grave. We’ll start to make use of devices in order to access and control what we have, and the poor can’t avoid it.
Everyone has a chance to grow if they really want to move and find a better way. Money has no effect on a person's physical or digital status, just a matter for people how they work hard to improve their lives
It just has the same scenario in my opinion
I don’t think it is safe for the poor. Why I’m saying this is because these people don’t live a life like we do and they don’t even have the things we have. If physical money is to be removed, then they will suffer till hunger sends them to early grave. We’ll start to make use of devices in order to access and control what we have, and the poor can’t avoid it.
Everyone has a chance to grow, if they really want to move and find a better way. Money has no effect on a person's physical or digital status, just a matter for people how they work hard to improve their lives
It just has the same scenario in my opinion
Poor persons just want the least money for their survival and the rest they would save for the precursors of them. so no need to give them much
Bad idea as many such people has no idea of ponzis, scams and knows nothing of btc security so they can easily be theft of their money
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 dont think so but fiat is good but if you have a digital and the private key is so safe so no one can get it so fast than if you have fiat theres a lot of evil trying to snach that or to kill you because of money that youll have so ithink its good . I'm not sure, as we know that most poor people can not read much less use the internet, they will be confused because they have to deal with something they do not understand, and certainly this is dangerous because it can make them gullible.
Unless the standards of living rise all over the world it very unlikely that we are going to see a world without physical money, most people lack the means in order to use digital money in any way or form, this is why bitcoin cannot really be adopted all over the world it will be a currency for those that have enough means to receive electronic payments. Jump to: