I am one of those who do not refuse going cashless transactions, but eliminating cash for payments is not a good idea.
Because some transactions are more suitable for using cash, after all, based on several articles I read cash and cashless
transactions there are advantages and disadvantages. So using both of them is the best way, especially in third world
countries cash money is needed.
Topic: The pros and cons of going cashless - page 10. (Read 1616 times)
https://www.moneyunder30.com/the-pros-and-cons-of-going-cash-free
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Extra theft protection
You have options if a credit card is lost or stolen, or if an unauthorized person somehow accesses your online accounts. You can replace a card or cancel a payment. Credit card users are protected from fraud through the Fair Credit Billing Act.
Meanwhile, we’ve all lost cash at some point in our lives—and with no paper trail (or e-trail), missing cash can be tough to get back.
You have options if a credit card is lost or stolen, or if an unauthorized person somehow accesses your online accounts. You can replace a card or cancel a payment. Credit card users are protected from fraud through the Fair Credit Billing Act.
Meanwhile, we’ve all lost cash at some point in our lives—and with no paper trail (or e-trail), missing cash can be tough to get back.
The above argument to me is not enough ground to be a pro because as much we lose our cash either to the wind, armed rubber, dropping from your pocket/pause to the floor or bank theft, we can also lose digital currency or coins without recovering.
And reversing your transaction isn't as easy as you think. It takes weeks to get back your money and sometimes your claims are rejected when you lack adequate proofs!
But yeah, the probability of getting back your missing cash is almost zero when compared to digital cash.
These are the coins
You may spend more
Data can be compromised
Privacy concerns are another consideration
Small transactions get tricky
Electronic methods aren’t perfect
The main problem I see if we were going completely cashless as a society is that we don't have a 100% control of your money. The cash at home or in your wallet can't be touched by anyone. So if the bank goes bankrupt all your cash might instantly be gone. Without a very good form of government protection on the banking sector the risk of losing all your FIAT money in a banking crisis is very high. Additionally the governement has a higher control over your cash too. If interest rates would be forced below 0% again you don't have the option to leave cash at home to not pay interest. You will basically have to pay (on top of your bank fees already) to leave cash at a bank. We are giving up control over our own money if we only use electronic payments.
We cannot eliminate the fact that cash is still essential even if being on a cashless society is way more convenient for everyone. In my country, not all establishments have another option of payment, you can only use cash. Examples of instances where cash is preferred are public transportation, establishments in isolated or rural areas, and not mention not everyone has access to the internet or means to use plastic money or pay online.
I believe both can exist without eliminating cash, either of them can be used as an alternative. There are instances that paying cash is more convenient than paying it online or credit/debit card.
I believe both can exist without eliminating cash, either of them can be used as an alternative. There are instances that paying cash is more convenient than paying it online or credit/debit card.
No war, no death. Our medical system is working really well. The banking system is governing the monetary and its quite convenient.
No death? You mean no death for any various reason? Immortality?Or you mean no death caused by wars? IMO, I am not believing that this world can achieve no wars. Just take a look how our current world is now.
Take a look how other countries bully others. Other countries that takes someone else land and sea.
It's unachievable unless all agree to a single treaty to remain peace at it's fullest. If this is broken by some country, then they should be punished.
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Is Cryptocurrency cash ?
Cryptocurrencies is no way a cash, there's no any banks or entity that backs it up. You can call it a digital asset that you can trade.But it is believed that cryptocurrencies can replace cash decades from now.
Everything has 2 sides and nothing is perfect. The anonymity and our privacy have the price and if you don't want other people to steal your things, more money is needed. In my opinon, we wont have a cashless society in the next 20 years. It is really hard. Moreover, the world we are living in right now is kinda stable. Many people claim they can't handle the truth that there are still many people struggling for their life and daily needs. However, charts and scientists see the world with another perspective in which we are kinda stable. No war, no death. Our medical system is working really well. The banking system is governing the monetary and its quite convenient.
Therefore, I hardly believe that we will have a cashless world in the next decade. Moreover, Is Cryptocurrency cash ?
Therefore, I hardly believe that we will have a cashless world in the next decade. Moreover, Is Cryptocurrency cash ?
Meaning that cashless should not be push through or become a mandate and instead it should be an option. We do know that having physical money is effecctive on doing transactions to small business where most of them are requiring to the use of physical money. There is nothing wrong with if and since the time it was been created and up to now physical money is proven effective. No one can argue of its effectivity over its existence for long time. So, let the people to have the option of doing cashless or with physical money. This is way better than having absolute physcial money or cashless society.
Being cashless has many advantages, especially in the middle of the pandemic that we can avoid getting physical contacts, and we don't need to wait in a long line, so we could pay our bills or buy goods. But being cashless should not be mandatory that it should be an option because not everyone in this world can afford to be cashless or buy smartphones and credit/debit cards. Also, going for 100% cashless is dangerous because we will be prone to hacking, and it would be tough for us to save our funds, that is why physical money would still exist for more than ten years or more. 
Those are developing country and we’re slowly adopting the cashless transactions especially right now where almost all the transactions is through online because of the virus. Well, it may not completely happen but its ok as long as there’s a progress despite of corruption it can happen. Going completely cashless is hard on the isolated areas, the physical cash will remain despite of the growing technology.
Sure, we're getting there slowly but surely. But definitely nowhere near going fully cashless for 3rd world and developing countries. Yes, even with COVID, simply because a lot of people can't even afford smartphones, and taking them out of the economy is pretty much economic suicide.
Meaning that cashless should not be push through or become a mandate and instead it should be an option. We do know that having physical money is effecctive on doing transactions to small business where most of them are requiring to the use of physical money. There is nothing wrong with if and since the time it was been created and up to now physical money is proven effective. No one can argue of its effectivity over its existence for long time. So, let the people to have the option of doing cashless or with physical money. This is way better than having absolute physcial money or cashless society.
That's why I hope the government doesn't have plans to eliminate cash entirely. It's fine if people choose to not use it, but I think it should remain available as an option.
As far as our government or my country as a whole is concerned, I truly believed cash won't be eliminated here.
Remote and isolated areas won't be able to ride the wave of this cashless transactions due to lots of factors and considerations. The same goes for other countries, especially in the so-called third world countries.
The cashless transaction will be heavily used while the world progress, no doubt about that. But I'm thinking even for a considered rich country, there is no way they can achieve a fully 100% cashless payment for at least within 10-20 years from now. The use of physical cash is hard to eliminate and not that simple to implement.
A lot of areas can't go full cashless society because there will always be some parts that are not covered by internet or electricity.
And others just prefer to keep the traditional way of living even if modernization is in front of them.
Maybe for certain areas they can have a cashless society but not all can have that kind of lifestyle.
Just consider those that are living in rural or remote areas. They will still prefer the fiat payment over digital one.
That's why I hope the government doesn't have plans to eliminate cash entirely. It's fine if people choose to not use it, but I think it should remain available as an option.
As far as our government or my country as a whole is concerned, I truly believed cash won't be eliminated here.
Remote and isolated areas won't be able to ride the wave of this cashless transactions due to lots of factors and considerations. The same goes for other countries, especially in the so-called third world countries.
The cashless transaction will be heavily used while the world progress, no doubt about that. But I'm thinking even for a considered rich country, there is no way they can achieve a fully 100% cashless payment for at least within 10-20 years from now. The use of physical cash is hard to eliminate and not that simple to implement.
That's why I hope the government doesn't have plans to eliminate cash entirely. It's fine if people choose to not use it, but I think it should remain available as an option.
One of the perks of living in a 3rd world country lol. There's just so much poverty that eliminating physical cash entirely is going to take out a huge percentage of the total population out of the economy. 1st world countries like the U.S. are far more likely to go completely cashless.
The discuss have been on for many years about the possibility of a cashless society. Especially with the current wave of the use of cryptocurrency.
Crypto is not cashless. Crypto is cash. Crypto is the real money not a imaginary money that you have on your creditcard or on your bank account. Cypto is bringing cash society back.
It depends on what you mean by "crypto is bringing cash society back".
Rightly, I do understand that cash is an integral part of crypto.
Cash on a simple terms is a tangible form of money it may come in a note or in coins. In short this is the physical form of money, while fiat is a established money created by our government, it may come in a form of "cash" or electronic. Anyways these two does not have intrinsic value, and so the cryptos are.
Crypto is the real money not a imaginary money that you have on your creditcard or on your bank account.
What's imaginary is our belief that money has a value.
I agree with the argument that if you have lost your cash, it's lost forever. Like if your wallet has been long gone, it will never be returned to you. Unlike with cashless or credit cards or online wallets, you can always retrieve it as long as you have the recovery information that you have to answer. And that's easy on your end because you're the actual owner of it. China has been long implemented cashless and soon, most of the developing countries will start to have it.
Convenience
Not as convenient when the system is experiencing technical difficulties and will reject your card or the transactions. Unlike fiat, transactions cannot be interrupted in a physical transactions when you're shopping in a supermarket or malls. And this is one of the most essential reason why fiat will continue to exist, and both cash and cashless transactions co-exist. While I also believe Bitcoin will be the cure to this concern, since Bitcoin has no central authorities like banks who control the system.
For spending more, I think it applies to credit cards as payments but not every cashless method. In which debit cards and crypto would not make you spend more because you can't lend from it.
It does apply to debit and crypto as well. Specially when you have enough funds stored to your wallet or card. Unnecessary spending is inevitable when you have easier access to online shopping. 
The privacy issue in digital cash is not something to be taken lightly. Users' data, such as shopping habits, when and where we shop, our favorite restaurant, etc., is valuable. These data will be a precious commodity by banks or payment processors. Moreover, these records are usually maintained for years!!
Bitcoin is one solution, and another solution would be via regulations to require anonymous data collection in financial transactions.
Bitcoin is one solution, and another solution would be via regulations to require anonymous data collection in financial transactions.
The discuss have been on for many years about the possibility of a cashless society. Especially with the current wave of the use of cryptocurrency.
Crypto is not cashless. Crypto is cash. Crypto is the real money not a imaginary money that you have on your creditcard or on your bank account. Cypto is bringing cash society back.
It depends on what you mean by "crypto is bringing cash society back".
Rightly, I do understand that cash is an integral part of crypto.
The discuss have been on for many years about the possibility of a cashless society. Especially with the current wave of the use of cryptocurrency.
Crypto is not cashless. Crypto is cash. Crypto is the real money not a imaginary money that you have on your creditcard or on your bank account. Cypto is bringing cash society back.
Well you look around about the cons of the traditional cashless policy, you will discover that many of it has been taken care off using digital crypto although it also add some other cons such as high liquidity, inability to retrieve coin back when sent to wrong address and possibility of being hacked in a wallet. All the same I still prefer cashless policy especially in my country where crime rate is getting high
We have see alot of countries (an example Greece) that planned to go cashless but failed because we need cashless and cash in other for people to make good means of payment because both cashless and cash have advantages and disadvantages. However, cash does not guarantee extra theft protection and convenience states by OP.
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