Is cash outdated? | Bitcointalksearch.org

iamthesky

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Quote from: calkob on March 02, 2016, 06:20:02 AM

I think in the future you might be right, but i think that there are a lot of people who still dont have access to the web. these people still need cash. Grin

Yeah, cash will never get outdated and it will always be in demand, and it will get support from the people who doesn't believe in new technology and will keep on spending cash.

calkob

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I think in the future you might be right, but i think that there are a lot of people who still dont have access to the web. these people still need cash. Grin

tn211

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Quote from: mobnepal on March 02, 2016, 05:46:04 AM

No cash will not be outdated soon or coundn't be replaced completely with digital currency. There are lots of underdeveloped countries where citizens even don't know how to do transaction via bank.

No it's not,nor will it ever become obsolute. People are just usted to have used cash. Surely online payments gateways are nice and growing, but in the end
cash (something you can hold gives you security.

mobnepal

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No cash will not be outdated soon or coundn't be replaced completely with digital currency. There are lots of underdeveloped countries where citizens even don't know how to do transaction via bank.

aakashsangwan

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Leaving apart from some country where bitcoin is accepted other country are still not accepting bitcoin and considered as illegal, and Cash cannot be outdated. cash is the source of any income, most of the countrys where bitcoin is not accepted they convert the bitcoin to fiat currency and use it.

1Referee

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I barely use cash anymore. I pay nearly 95% of all my purchases with my bank card. Some times when I go to the bazaar to buy things as fruit I must pay with cash as they don't have hardware to let customers pay electronically. I think the need for cash in a well developed country is low. If you look at Africa or other parts of the world where you find less developed countries, they have no other option than to use cash money.

markj113

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Governments and top bankers are desperate to outlaw cash.

The reasons are simple -

1) Every transaction you make can be checked and audited.

2) When the next financial crisis hits there will be no more bank runs as there will be no cash to withdraw.

3) When negative interest rates hit you wont be able to stash cash under the mattress, your money will be locked in to a bank account becoming less and less daily.

4) When a bank folds they hold all your wealth and you know who will end up paying for their failure Wink

A cashless society = 100% bankers/government financial control over you. Not a "good" citizen, then they freeze your account leaving you penniless.

Anyone who supports scrapping cash and moving fully to digital currency is an idiot that doesn't fully understand the implications.

Amph

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i dunno but besides foods, and phisical shop maybe, i'm not touching cash anymore, electronic is much more confortable to use

and you have not all those cent in your pocket which create unnecessary problems

MaxTax

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No that is not true. Many people need cash and that is very important for them. I think many people use some cash and they use it much.
Because also they dont know what Bitcoin is and that is the problem. I hope later that more people will use Bitcoin.

nanonymousx

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of course not, anyone thinks cash is outdated can sent his/her cash to me I will pay shipping.
Cash is still easier to use then bitcoin., right?

Jet Cash

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I think cash ( a physical evidence of a payment unit) will always be around. It's built into every society that exists, and some of the animal communities. I use a credit card quite a lot now, but that is because I get a cash-back bonus for every transaction. However I am aware that the reatailer pays this ultimately, so it contributes to the increase in prices. I do use cash for some purposes, and I would be prepared to buy Bitcoins for cash. By cash I mean folding money not the virtual fiat money in bank deposits.

There is an article about street beggars in yesterday's Daily Mail. It seems that there is a beggar in Wolverhampton who makes around £500 per day, and he carries a mobile card reader because he says "Rich people don't carry money".

NorrisK

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Quote from: c789 on March 02, 2016, 02:13:31 AM

Some governments are moving to ban cash:

http://www.forbes.com/sites/markhendrickson/2015/05/28/farewell-to-cash/#7531c7e47927

http://www.breitbart.com/big-government/2016/02/23/governments-of-the-world-are-coming-for-your-cash/

This is an obscene level of control that shouldn't be tolerated by any citizen. If there is no cash and all transactions are on a public register (like BTC, which I like btw), then there is no privacy. I'm ok with a cashless society only as long as a private system of cash is also available (like Monero). It shouldn't be anyone's business if I give $5 to a church, a hooker, or McDonalds.

The good thing about bitcoin is that you can make a new address for every incoming transaction. This way, if you use them like you are supposed to, nobody will know which addresses are under control by which entity.

It will take some serious digging to figure it out in the end, and as long as you don't move all to the same address in an obvious transaction, you should be relatively fine.

Cash in the way we know is outdated and will slowly disappear, that is something you better start getting used to. Some physical trading will remain longer I guess.

Patatas

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Quote from: SFR10 on March 02, 2016, 02:53:50 AM

I strongly think cash is outdated (at least for some times already). 80 to 90% of my expenses are done in a way other than cash and only small percentage does involve using physical cash mainly due to store being outdated itself and not have debit card swipe machines (at least). Many other countries will follow Sweden (cashless country since few months ago).

Maybe outdated for you but that merely contributes to the rest of of the world .Most of my expenses are dependent on cash,for example I can't pay my internet bills in bitcoin yet.I can't buy groceries with bitcoin too.Fact is cash will still remain the primary currency until we reach to a point where 80% of the world's population agrees and starts using cryptos for their daily expenditures.

Dekker3D

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It depends on what country you are in. Third world countries still rely mostly in Fiat while some like Sweden are becoming cashless based.

SFR10

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I strongly think cash is outdated (at least for some times already). 80 to 90% of my expenses are done in a way other than cash and only small percentage does involve using physical cash mainly due to store being outdated itself and not have debit card swipe machines (at least). Many other countries will follow Sweden (cashless country since few months ago).

dollarneed

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Quote from: Bitware on March 02, 2016, 01:11:09 AM

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

cash will not become outdated, unless the entire world must be digitalized or goverment or economic and financial organization provide some program that gives everbody a bank account with smartphone, and some app to scan virtual things like credit ,debit cards or other things like that and must be spread evenly over the entire sector then i think cash will be outdated. and most suprissed people would be choose bitcoin

pooya87

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cash is not outdated at all, what you are saying is for the far future (maybe?) but it is definitely not for now.

besides the transition from the old ways (using cash for day to day usages) to a new technology (for example using bitcoin for all that) needs a long time, no transition happens overnight.

TastyChillySauce00

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Quote from: Bitware on March 02, 2016, 01:11:09 AM

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

some people are now do prefer using credit cards or debit card rather than cash because it's flexibility and simple,i'd say credit card or debit card have limit and balance which is digital,so,cash will not longlast

romero121

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Quote from: Bitware on March 02, 2016, 01:11:09 AM

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

Exactly cash is the king. Only when entire world gets digitalized we can agree with your statement cash got outdated.

c789

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Some governments are moving to ban cash:

http://www.forbes.com/sites/markhendrickson/2015/05/28/farewell-to-cash/#7531c7e47927

http://www.breitbart.com/big-government/2016/02/23/governments-of-the-world-are-coming-for-your-cash/

This is an obscene level of control that shouldn't be tolerated by any citizen. If there is no cash and all transactions are on a public register (like BTC, which I like btw), then there is no privacy. I'm ok with a cashless society only as long as a private system of cash is also available (like Monero). It shouldn't be anyone's business if I give $5 to a church, a hooker, or McDonalds.

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