"Swish" mobile payment solution in Sweden is already approaching 40% usage, it is zero fee and instant confirmation, this makes bitcoin transaction pale in comparison, the only benefit left for bitcoin is anonymous (mobile payments need full name id verification)
As banks closing the loop, fiat money never goes out of the banking system, thus there will never be a liquidity problem or bank run, and no one knows how much money is there so that banks can print as much as possible. But bitcoin price will just rise and rise after each QE, and become an indicator for fiat money supply
Topic: Sweden to Become World’s First Cashless Country (Read 2250 times)
In that case, unless it's managed to leave fiat behind to a large extent, they could strangle exchange options by simply blocking transfers in and out of them.
and what ?
exchange is only the following solution after localbitcoin because of the facility of the wire system.
if wire is blocked (they can't do this now ... because of the recent VAT indicator and because all major and big exchange are complained with tresorery policy of each country where they have his social location) ... sell and buy go the public decentralized exchange or ... localbitcoin system P2P mixed solution.
after all ... i can wire an amount of money to an other privat party that it sell BTC (with notority).
in europa, we have already an alternative to localbitcoin to connect privat buyer to privat seller with escrow and automated payment detection via postal banking service (like in africa !).
well ... the cost is not the same.
but, in my environment, i use the 3 solutions now :
- postal banking exchange (can buy at high speed)
- big exchange (can sell at high speed)
- national exchange (low volume, can catch bounce black hole)
It's important to add that Sweden is becoming the world's first country without any privacy. Everything is registered, everything is sanitized, everything is controlled. The government is aware of all transactions, and all professional activities. There's no freedom. I see no difference between Sweden and IS. It's exactly the same system, where the government is the Master, and all citizens are puppets.
Still so much of the world loves Sweden and it is often held up as an example to follow. Apparently, more government is always good.
Totalitarianism is in vogue.
that's why cashless society don't work ... because it's a hitler bank society.
bitcoin avoid this at all level of the society.
Let's not forget that in a cashless society they may suddenly declare Bitcoin a quasi cash too. In that case, unless it's managed to leave fiat behind to a large extent, they could strangle exchange options by simply blocking transfers in and out of them.
It's always been legal in Europe. As for cashlessness, be careful what you wish for...
This.
No cash means more banks' control over pretty much everyone and no annonymity. Bitcoin could provide a little relief, but with no mass adoption, that won't solve the problem.
Applauding 'cashlessness' just to drive BTC price up is borderline retarded (or just ignorant at best).
Yes.
ask to greek and cyprus people why they CAN NOT use more than 600 euros per month (PER MONTH) in cash.
they can not move here money to other country.
it's an hell.
it's CAPITALS CONTROLS.
that's why cashless society don't work ... because it's a hitler bank society.
bitcoin avoid this at all level of the society.
I'm from a third world country and when I travel to "rich" countries I see the difference clearly. Cash is hardly used in shops or even for services. Sometimes the cashiers don't even know how to give proper change. But in my country and many others the trend to avoid cash is also spiking, mostly due to security measures but also and it's fairly obvious, it's much easier to tax and control for the government.
This has nothing to do with Bitcoin or cryptocurrency. It's like saying people are flocking to Bitcoin because they doing more Paypal transactions than before.
Yes I agree with this. Youngsters tend to use paypal or any other pay options over internet.This has nothing to do with Bitcoin or cryptocurrency. It's like saying people are flocking to Bitcoin because they doing more Paypal transactions than before.
Even think about banking. elders still go banks to do banking while youngs use mobile banking.
I'm from a third world country and when I travel to "rich" countries I see the difference clearly. Cash is hardly used in shops or even for services. Sometimes the cashiers don't even know how to give proper change. But in my country and many others the trend to avoid cash is also spiking, mostly due to security measures but also and it's fairly obvious, it's much easier to tax and control for the government.
This has nothing to do with Bitcoin or cryptocurrency. It's like saying people are flocking to Bitcoin because they're doing more Paypal transactions than before.
This has nothing to do with Bitcoin or cryptocurrency. It's like saying people are flocking to Bitcoin because they're doing more Paypal transactions than before.
I do not think that to be possible right now. Perhaps in 10-20 years, but not anytime soon. There are lots of elderly people who only know and use cash, and many uneducated people who you cannot just get out of the money system. Much education is needed before it happens.
Most of all, the government would have to change banking regulations to make sure everyone is 'banked'. Right now banks can reject your application or terminate your account even without giving you a reason. That would obviously have to change.
Same goes for bank accounts for underaged.
People would not trust digital money... It can also be manipulated, just like fiat, with the backing of the majority consensus. Let's say for argument sake, a whole country decides to
back a specific Bip suggestion that would favor them, and they throw all their resources behind that, then they could get some high degree of consensus. There are some variables
that are still open for manipulation, and the risk is even higher with any GovCoin or FedCoin. Any digital currency is vulnerable to attack and complete blackouts. {If the electricity
goes down on a global scale} This could be because of something that happens in nature or targeted attacks during a global WAR situation.
back a specific Bip suggestion that would favor them, and they throw all their resources behind that, then they could get some high degree of consensus. There are some variables
that are still open for manipulation, and the risk is even higher with any GovCoin or FedCoin. Any digital currency is vulnerable to attack and complete blackouts. {If the electricity
goes down on a global scale} This could be because of something that happens in nature or targeted attacks during a global WAR situation.
I do not think that to be possible right now. Perhaps in 10-20 years, but not anytime soon. There are lots of elderly people who only know and use cash, and many uneducated people who you cannot just get out of the money system. Much education is needed before it happens.
Just think how much time took for credit cards to be a widely used form of payment, and still today many people refuse to use them.
Just think how much time took for credit cards to be a widely used form of payment, and still today many people refuse to use them.
Europe is not a country.
In my opinion Europe is not a country. But if you think Asia is a country, then Europe is a country in your definition.
Money started to become digits at computer screen even before bitcoin. You remember the phrase of Cantona?
"We must go to the bank. In this case there would be a real revolution. It's not complicated; instead of going on the streets and driving kilometres by car you simply go to the bank in your country and withdraw your money, and if there are a lot of people withdrawing their money the system collapses. No weapons, no blood, or anything like that."
Banks and governments who work with banks have all the power over money.
So I am skeptical about this situation. Bitcoin is different story.
"We must go to the bank. In this case there would be a real revolution. It's not complicated; instead of going on the streets and driving kilometres by car you simply go to the bank in your country and withdraw your money, and if there are a lot of people withdrawing their money the system collapses. No weapons, no blood, or anything like that."
Banks and governments who work with banks have all the power over money.
So I am skeptical about this situation. Bitcoin is different story.
Europe is not a country.
It's important to add that Sweden is becoming the world's first country without any privacy. Everything is registered, everything is sanitized, everything is controlled. The government is aware of all transactions, and all professional activities. There's no freedom. I see no difference between Sweden and IS. It's exactly the same system, where the government is the Master, and all citizens are puppets.
Do you need to report every transaction of Bitcoin in Sweden in the future? Is it feasible for the government to track down every transaction if you do not declare.
Even if you don't report or declare, they will still know it, given that they have the means to do so. If they leave bitcoin as is, then it is great, but I don't think Sweden would do the former just to have full control (which they will have if all their citizens use the same xard for transactions).
It's important to add that Sweden is becoming the world's first country without any privacy. Everything is registered, everything is sanitized, everything is controlled. The government is aware of all transactions, and all professional activities. There's no freedom. I see no difference between Sweden and IS. It's exactly the same system, where the government is the Master, and all citizens are puppets.
This is what too much radical feminism and extreme left-wing stupidity can do to a country. Soon they will be having government provided GPS chips attached on all the individuals, to monitor their movement.
You should also remember that Sweden is having one of the highest VAT and income tax rates in the world, and a gallon of gasoline there costs as much as three times of that in the United States.
That must be great news to hear. See, people nowadays should "open" their eyes for future money..
It's important to add that Sweden is becoming the world's first country without any privacy. Everything is registered, everything is sanitized, everything is controlled. The government is aware of all transactions, and all professional activities. There's no freedom. I see no difference between Sweden and IS. It's exactly the same system, where the government is the Master, and all citizens are puppets.
Do you need to report every transaction of Bitcoin in Sweden in the future? Is it feasible for the government to track down every transaction if you do not declare.
It's important to add that Sweden is becoming the world's first country without any privacy. Everything is registered, everything is sanitized, everything is controlled. The government is aware of all transactions, and all professional activities. There's no freedom. I see no difference between Sweden and IS. It's exactly the same system, where the government is the Master, and all citizens are puppets.
They want it but are poeple prepared for it?
Tha's why I think that this will still take a lot of years to be done!
Tha's why I think that this will still take a lot of years to be done!
I think europe is the first having bitcoin to be legal.and will be first cashless country i just read the victory of europan people that bitcoin is legal now in there country..
Europe is not a country.
It's always been legal in Europe. As for cashlessness, be careful what you wish for...
This.
No cash means more banks' control over pretty much everyone and no annonymity. Bitcoin could provide a little relief, but with no mass adoption, that won't solve the problem.
Applauding 'cashlessness' just to drive BTC price up is borderline retarded (or just ignorant at best).
I think europe is the first having bitcoin to be legal.and will be first cashless country i just read the victory of europan people that bitcoin is legal now in there country..
It's always been legal in Europe. As for cashlessness, be careful what you wish for...
I think europe is the first having bitcoin to be legal.and will be first cashless country i just read the victory of europan people that bitcoin is legal now in there country..
I will wait soon my country is the next cashless..
I will wait soon my country is the next cashless..
I doubt if this will happen soon... " ...data from the European Central Bank indicate that Swedes, while enthusiastic about bank cards and digital payments, still regularly withdraw quite a bit of money from ATMs. Surveys from the Riksbank show that for transactions under 100 kronor, 41 per cent of people still prefer to use cash. And the Swedish National Pensioners’ Organization, which represents some 400,000 of the country’s elderly, says 7 per cent of its members never use bank cards. "
SOURCE : http://www.sbs.com.au/news/article/2015/10/16/sweden-its-way-becoming-first-cashless-society-earth
The older generation will never fully adopt digital payment methods and the tourist from other countries will be discouraged if they have to learn new payment methods, when they
visit the country. Cash is still king, in many countries.. and people are used to it.
SOURCE : http://www.sbs.com.au/news/article/2015/10/16/sweden-its-way-becoming-first-cashless-society-earth
The older generation will never fully adopt digital payment methods and the tourist from other countries will be discouraged if they have to learn new payment methods, when they
visit the country. Cash is still king, in many countries.. and people are used to it.
The elder generation that is afraid of bank cards is rapidly diminishing.
The population that is causing the ageing of society (50-70 now) should be very used to using bank cards all the time.
I doubt if this will happen soon... " ...data from the European Central Bank indicate that Swedes, while enthusiastic about bank cards and digital payments, still regularly withdraw quite a bit of money from ATMs. Surveys from the Riksbank show that for transactions under 100 kronor, 41 per cent of people still prefer to use cash. And the Swedish National Pensioners’ Organization, which represents some 400,000 of the country’s elderly, says 7 per cent of its members never use bank cards. "
SOURCE : http://www.sbs.com.au/news/article/2015/10/16/sweden-its-way-becoming-first-cashless-society-earth
The older generation will never fully adopt digital payment methods and the tourist from other countries will be discouraged if they have to learn new payment methods, when they
visit the country. Cash is still king, in many countries.. and people are used to it.
SOURCE : http://www.sbs.com.au/news/article/2015/10/16/sweden-its-way-becoming-first-cashless-society-earth
The older generation will never fully adopt digital payment methods and the tourist from other countries will be discouraged if they have to learn new payment methods, when they
visit the country. Cash is still king, in many countries.. and people are used to it.
so how it work they seek everyone and start destroying their cash, or they wait until those remained cash are spent in some way
you can't just burn people money, so they must offer the same value in their bank to accelerate the process, can their citizens ask for something extra in this case?
you can't just burn people money, so they must offer the same value in their bank to accelerate the process, can their citizens ask for something extra in this case?
People in Sweden are already hardly using cash anymore. They are already having most of their fiat in a bank account. Also, since only Sweden uses their currency, they can also just stop emitting any bank notes and coins. Every retailer turns in any cash they receive and slowly cash will disappear.
Next, they will probably set a 20 year limit for people to hand in their cash, after that, it will be a worthless piece of paper or copper.
Many will think this is a good thing but I'm in two minds about a cashless society.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
May not be the case if we use Bitcoin or some anonymous coins like Monero or dash
From what i've researched the tittle is actually a bit misleading. We may still be a bit far from an actual cashless society. Not "far", but a couple of years, not anytime soon. But the trend is clear, you can kiss goodbye to cash, therefore you can kiss goodbye fungibility, unless we come up with a way to make Bitcoin anonymous enough so that everyone can enjoy true fungibility. There's always XMR I guess tho.
Very nice, if that is true, then this is awsome news.
I think people are now taking more interest and are willing to make a change. I expect to see bitcoin to be on par with credit card and other payment options some day.
Probably a step towards government regulation there?
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
I didn't get your point. If you will pay with Bitcoin, you can pay a hooker with a "gift" payment from their bank payment.
You could, but you probably don't want such tx to be shown in your statement.
But the point is, when you're a hooker, you won't get far with multiple 'gifts' received every day, or dozens (hundreds?) a month. That would be quickly marked as suspicious behaviour by your bank and/or taxman.
Accepting cash/bitcoins gives you much more options to stay below the radar.
Absolutely! And since you can't use cash anymore, you use Bitcoin. I like it! The demand will rise and consequently the price will rise.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
I didn't get your point. If you will pay with Bitcoin, you can pay a hooker with a "gift" payment from their bank payment.
You could, but you probably don't want such tx to be shown in your statement.
But the point is, when you're a hooker, you won't get far with multiple 'gifts' received every day, or dozens (hundreds?) a month. That would be quickly marked as suspicious behaviour by your bank and/or taxman.
Accepting cash/bitcoins gives you much more options to stay below the radar.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
I didn't get your point. If you will pay with Bitcoin, you can pay a hooker with a "gift" payment from their bank payment.
Sad yet inevitable. As someone that uses cash heavily just for the basic dignity of financial privacy, I'm glad I don't live in Sweden.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
if your are telling this then, everything is online, who ever buying or selling all transactions are made online, so its a good news and bad news, because now you have to carry your smartphone or laptop to do any type of business. but it is good for bitcoin as it is online payment. but alone sweden change cannot bring more difference to bitcoin, until big continents then accept it.
Not sure what you mean. Carrying your phone with you doesn't sound like much inconvenience, since (almost) everyone does it anyway.
Sweden isn't the biggest country in the world, but trust me, if Bitcoin took over all the physical cash transactions in Sweden, you would see the reflection in BTC price.
I thought Denmark was going to be the first. Either way the 'convenience' that cashlessness offers will rapidly turn around and bite them on the arse if the government wants to implement some Funny Stuff.
Cash is one of those things that people will only truly understand and appreciate what it did for them once it's gone. As all the attempts to keep the plates spinning become increasingly convoluted, They will do everything they can to squeeze financial freedom and herd people into areas where their money can be controlled.
Cash is one of those things that people will only truly understand and appreciate what it did for them once it's gone. As all the attempts to keep the plates spinning become increasingly convoluted, They will do everything they can to squeeze financial freedom and herd people into areas where their money can be controlled.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
if your are telling this then, everything is online, who ever buying or selling all transactions are made online, so its a good news and bad news, because now you have to carry your smartphone or laptop to do any type of business. but it is good for bitcoin as it is online payment. but alone sweden change cannot bring more difference to bitcoin, until big continents then accept it.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
This will make huge difference for Bitcoin.
If physical cash is no longer accepted by any bank or merchant, Bitcoin could take its role as a payment method for quick and anonymous transactions. There is and will be a fair demand for cash (or cash-like) payments, anything from giving money to beggars to buying weed, paying prostitute etc.
Most people living in cities are already moving towards cashless. We use credit and credit cards most of the time and only use small bills and coins for trivial things. I believe Sweden ahead in this direction because it is difficult for shops/banks to transport cash when they are snowed in. They are departing from physical notes and coins, but still staying with fiat as the unit of accounting. They are far from using cryptos as everyday currency.
People are mixing things.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
They aren't avoiding fiat, they are avoiding physical cash. Paper ones. But they still use CC from banks.
This will do no difference for Bitcoin. It has been an option today, and there will be no advantage for it after the ban on cash.
That's not about Bitcoin, it's about credit and debit cards. Most of the developed countries already use that but strictly do it like that is definitely a game changer. No cash means everything is under control, government knows every spending you make. I'm sure Swedish people will look into Bitcoin more because they have to save their financial freedom.
Hmm, so they would rely on bank cards completely controlled by government and the banks? That means centralization for me.
Thanks but no thanks. Cash seems to work out well for me, and I don't think they will employ the idea of bitcoin that much in their nation.
Thanks but no thanks. Cash seems to work out well for me, and I don't think they will employ the idea of bitcoin that much in their nation.
Everyone is awared about transaction status and development in Sweden, a beautiful country for sure! Sweden is now progressing towards almost becoming cashless 90% of transactions are done cashlessly,either using cards or bitcoins. This has greater advantages over cash
(1) Security-- Money stays safe, no one can steal it from you
(2) Carefree-- you don't have to worry about where should I keep my money how, etc...
(3) Easy-- no hassle of notes, it's digital, technological and simple mode of payment
(4) No robberies-- what will be robbed when there will be no cash!!
So, other countries should learn from sweden and move towards being called "cashless"
(1) Security-- Money stays safe, no one can steal it from you
(2) Carefree-- you don't have to worry about where should I keep my money how, etc...
(3) Easy-- no hassle of notes, it's digital, technological and simple mode of payment
(4) No robberies-- what will be robbed when there will be no cash!!
So, other countries should learn from sweden and move towards being called "cashless"
This wasn't for bitcoin adoption, its a credit card based system. They can pay all with credit or debit card, nord-european countries users normalydon't use cash. But these could be a society more open to use bitcoin.
The article barely mentions Bitcoin much at all. Honestly the title tends to imply Bitcoin adoption - but in reality they are just restating the same news that Sweden is shying away from the usage of cash. While it means there are more digital transactions - there is no indication of any new developments in the market nor legislation that will support Bitcoin in becoming a currency to rival fiat in any significant way anytime soon.
so bitcoin having more adoption in sweden. Thats the reason for increase in price?
Wow thats a great news to hear ....i hope it comes in my country INDIA too lol..... .....Its a nice news that bitcoin is taking a huge feet in Sweden....
It'll not be good for indian peoples. Because, we're already facing a lot of financial problems (black money). .....Its a nice news that bitcoin is taking a huge feet in Sweden....Many will think this is a good thing but I'm in two minds about a cashless society.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
Right! This is a nightmare if cashless means centralized digital money. You will leave in a glass house.Fully transparent and everything you do with that money can be tracked and will be monitored.
Bitcoin and other decentralized cryptos are the only way out of this.
Huh, if it is true, then the BTC price must increase a lot! I see in the news that there are 80B SEK (about 9B USD) in circulation now, that means the 'market cap' of the Swedish currency is 9B, while that of bitcoin is only 4B as of now. If Sweden makes bitcoin as their national currency (at least their population use it in daily price), it could push the bitcoin market cap to at least 9B, i.e. price would up at least 100%.
Wow thats a great news to hear ....i hope it comes in my country INDIA too lol..... .....Its a nice news that bitcoin is taking a huge feet in Sweden....
.....Its a nice news that bitcoin is taking a huge feet in Sweden.... Many will think this is a good thing but I'm in two minds about a cashless society.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
Eventually we will all live in a cashless society, as soon as online banking became a thing and the ability to pay using your bank card became the thing to do we entered into the beginnings of a cashless society.
It is as you say one step closer to a big brother 1984 type deal but even cash is not safe if it at some point it is deemed worthless.
Bitcoin at least is a start to another means, another way to exist outside of the control of any one body, the only way it will fail is if they switch the internet off in which case would probably mean we have been hit by a solar flare from the sun and the power grid has been wiped out
Yes, the world is becoming heavily controlled and technology doesn't do nothing but helps people that want this control. Online banking and digital/cashless society does exactly this as well. Your every move and every transaction is written somewhere out there. Heck I can find and review my every transaction that did go through my online bank in the last 5 years.
As you have said it, at least with Bitcoin we are starting to offer at least a little dose of semi anonymity.
Cash was a king here, as it was the easisest to lose the trail. But we are moving away very far from cash and towards banks centralized blockchains that will give banks and governments even more control.
Many will think this is a good thing but I'm in two minds about a cashless society.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
Eventually we will all live in a cashless society, as soon as online banking became a thing and the ability to pay using your bank card became the thing to do we entered into the beginnings of a cashless society.
It is as you say one step closer to a big brother 1984 type deal but even cash is not safe if it at some point it is deemed worthless.
Bitcoin at least is a start to another means, another way to exist outside of the control of any one body, the only way it will fail is if they switch the internet off in which case would probably mean we have been hit by a solar flare from the sun and the power grid has been wiped out
Do banks charge fees for cashless transactions?
so how it work they seek everyone and start destroying their cash, or they wait until those remained cash are spent in some way
you can't just burn people money, so they must offer the same value in their bank to accelerate the process, can their citizens ask for something extra in this case?
you can't just burn people money, so they must offer the same value in their bank to accelerate the process, can their citizens ask for something extra in this case?
Many will think this is a good thing but I'm in two minds about a cashless society.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
No more privacy, each and every little transaction recorded in your banks database. No backup for those times when the power is out etc....
I still prefer cold hard cash in many situations thank you.
"Cash is still an important means of payment in many countries' markets, but that no longer applies here in Sweden."
Full: http://cointelegraph.com/news/115452/sweden-to-become-worlds-first-cashless-country
Sweden open their eyes to "future of money."
If they do we all become richer
Quite old news actually. It was reported on more than a year ago (that they were trying to go there http://www.theguardian.com/world/2014/nov/11/welcome-sweden-electronic-money-not-so-funny)
I think it is an interesting move nonetheless.
Do you think this is good for bitcoin or not? Or do people get even more depended on centralized banks? I guess a lot of die hard bitcoiners prefer cash over digital fiat.
I think it is an interesting move nonetheless.
Do you think this is good for bitcoin or not? Or do people get even more depended on centralized banks? I guess a lot of die hard bitcoiners prefer cash over digital fiat.
Digital fiats are nothing different from using Paypal.
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Bitcoin has the potential to become a commonly used currency in Sweden.
This is the point, I prefer to look for as a bitcoiner. May Sweden preemptively act to avoid a situations like Greece faced. Lets wait a little before this to happen.
Quite old news actually. It was reported on more than a year ago (that they were trying to go there http://www.theguardian.com/world/2014/nov/11/welcome-sweden-electronic-money-not-so-funny)
I think it is an interesting move nonetheless.
Do you think this is good for bitcoin or not? Or do people get even more depended on centralized banks? I guess a lot of die hard bitcoiners prefer cash over digital fiat.
I think it is an interesting move nonetheless.
Do you think this is good for bitcoin or not? Or do people get even more depended on centralized banks? I guess a lot of die hard bitcoiners prefer cash over digital fiat.
That must be great news to hear. Many people would have expected Greece to be the first one to come out to accept crypt-currencies. If it comes in full swing, we can see many other countries will join this race.
"Cash is still an important means of payment in many countries' markets, but that no longer applies here in Sweden."
Full: http://cointelegraph.com/news/115452/sweden-to-become-worlds-first-cashless-country
Sweden open their eyes to "future of money."
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