Topic: The death of cash (Read 357 times)

Yes, and these coins won't be decentralized, so... bye bye Nakamoto...

Following the hijacking of the Yellow Vest movement in France, they are now suggesting that supporters should withdraw all their bank deposits in cash, and use cash for payments. It will be inconvenient, but it will disrupt the banking system, and will be more productive than burning and destroying assets that will be needed for an economic recovery.

Even when the time comes that crypto is adopted widely, cash will still be a relevant mode of transaction. People need to have a physical item to hold in their hand you know. Bitcoin will also be here in the future but i will not make cash obsolete.

I have a different views about about cash but after reading this your thread and comments others has made I have to change my thinking.  Cash will never die as far as governments is there.  I believe that the wealthy will continue taking the advantage of the poor through the cash system.

Yes, and these coins won't be decentralized, so... bye bye Nakamoto...

Well, the big net company are setting the base... We'll have very soon Facebookcoin, Googlecoin, Amazoncoin...

Cash use is only dying for the middle classes. The Britannia is still being promoted by the Royal Mint, and it is being used, together with the Sovereign ( the coin, not the Queen ) for international payments.

https://www.royalmintbullion.com/Products/Britannia/Gold/UKB19GOS

When the world collapses and society splinters into factions fighting for the scraps, you'll want to keep your friends close and your crypto closer. Whatever the cause of the fallout, economic disaster is certain. Fiat currency will be the first to falter, leaving gold, bitcoin and barter as the only surviving means of exchange. Here's how you can use your crypto when judgement day comes.

It's the End of the World as We Know It

Bitcoin has long attracted interest from fringe elements of society. Anarchists, freedom fighters, libertarians, gun nuts, hoarders, preppers and combinations thereof. Many of these individuals have little faith in society, believing that global collapse is imminent, bringing the financial system down with it. In this post-capitalist world, only the prepared will survive, armed with their wits, weapons, a supply of canned goods and, of course, a stash of peer-to-peer currency.

There's just one problem: depending on how hard the apocalypse hits, and depending on its cause (nuclear fallout; meteorite; electrical storm; aliens; zombies), performing the sort of digital activities we take for granted today may be virtually impossible. For those convinced that the end times are nigh, it's not enough to stockpile bitcoin – preppers must also figure out how they're going to spend it when shit gets real.



Sending Crypto When the Internet's on the Blink

It would be easy to write survivalists off as loonies, but when the apocalypse arrives...

btw - they can't be starving if they are paying cash to buy cups of coffee in restaurants.

Recently it has become rather annoying to try to research almost any topic without repeatedly tripping over the letters E-L-E. From Nibiru to Yellowstone, this term has been getting thrown around a lot, sometimes as irresponsibly as the impending doom scenario being described, which often times hasn’t even happened yet. Generally, I like to stick with the doom that has already occurred, rather than worry about things that haven’t. So what exactly is an ELE? Wayward planets, supervolcanos, and scary comets aside, in the case of the Fukushima Accident – 3 nuclear meltdowns which have gone China Syndrome and have never been contained – is this term really being used correctly? Extinctioj flood

An ELE is a BIG DEAL. So when laying down the ELE-card it is important to understand exactly what an ELE is, and how it changes the game. By definition:

An Extinction Level Event (also known as a mass extinction or biotic crisis) is a widespread and rapid decrease in the amount of life on earth. Such an event is identified by a sharp change in the diversity and abundance of macroscopic life. It occurs when the rate of extinction increases with respect to the rate of speciation. Because the majority of diversity and biomass on Earth is microbial, and thus difficult to measure, recorded extinction events affect the easily observed, biologically complex component of the biosphere rather than the total diversity and abundance of life.

That is the fact here, I have something to tell but please don't scared

I have read that the people are moving their assets to digital currencies and golds because there will be a big will happen soon. There will be a chance that world war three is coming and that Jared kushner (the son in law of trump) will become the lead of said globalization to wage war.

I did not mean to scare people here but if you already know that war is coming, you have to move your money out of the banks and get golds to preserve your wealth.

Before too long, all of us will be our own banks, and our notes will be as good as our word.

I believe the cryptospace will experience a similar evolution but in a much faster way, we are already way ahead than the first banks

I keep seeing forecasts that cash payments are dying, and they will not be used in the future. The OED defines cash as "Money in coins or notes, as distinct from cheques, money orders, or credit." It may be probable that soon the use of coins and notes will not be commonplace for everyday transactions for the general population, but governments are busy creating gold coins for the wealthy to use as untraceable payment methods. In the UK, the government has even given tax advantages to users of its gold coins, including Sovereigns and Brittanias. A Brittania is currently worth over £1,000, so it is unlikely to be used in the purchase of a coffee, but they are being used for payments between countries, and for other larger settlements. No doubt some of those will be for illegal goods and services. They can also be used to reduce inheritance tax, as the value of a Britannia is fixed at £100 for the purposes of estate duty.

The interesting question relates to crypto-currencies. One wonders when some coins, such as Bitcoin for example, will be included in the definition of "cash".