Topic: This is why we have to keep cash (Read 1062 times)

In normal sense money is not supposed to keep at home because of damages of criminals because if criminals notice that money is available in the house some information will going in between to hijack the money, so from bitcoin side bank don't have access to touch your coin or bitcoin

it is unlikely that the government will freeze all the accounts of its citizens, because it will bring other big problems that will occur in the community. But if you say don't keep all the money in the bank, I agree. set aside cash for you to save at home, outside of the technology used there are still places that are still natural and there it is difficult for us to transact using a bank.

This indeed is a great innovative idea that one needs to put into practice. Regardless of the world revolving on a day-to-day basis, we all should try to safekeep cash just incase of incasity. And the example made by the OP is with no doubt a solid one.

Yes, not all of our money is stored in the bank, we also need to make our own safe to store money. Some other needs that must directly use cash and not digitally. If we are in a place where technology is owned by everyone, we can easily use banks or other digital money. But if you are in a certain area, sometimes cash is the last resort so that we can transact the necessities of life.

God has blessed money as a great power. Money may be in hard cash,E-money, Plastic card-based money, or digital currency. You need money Everywhere you go. Therefore, it is said, " penny in the pocket is a good company".
You need money till the last breath of your life. Someone has good said, "Money makes the mare go".
We struggle our whole life to get money. So no one can deny the importance of money and we have to keep the cash.

As we saw recently with the unrealistically high Bitcoin prices, it also spurned equally unrealistic transaction fees causing altcoins to surge in price to become secondary crypto methods of payment for small fiat dollar value transactions.

I don't really buy that one currency for everybody schiesse that the globalists dream of. It will defeat the purpose as to why we have cash and why we have digital currencies. Governments will not be able to lock bitcoin accounts please do take note as the government does not have the keys to those accounts. Only a centralised digital currency can have such a feature that can be used to reward or punish a person. I only value cash because that is stull the most widely used form of payment in our area. But I still store digital currencies as well.

Thank you. This is exactly the point I wanted to bring up, the fact that, banks nor the government can do nothing to your bitcoin. Besides, there is always going to be a cash in circulation and should technology and cashless system of transacting be developed to the extent you imagine it, there won't be any need for the cash when bitcoin can be used  comfortably in transactions. All you've got to do is transfer from wallet to wallet and what have you. It would be a p2p system of trading as it is just that, your trading crypto for an edible commodity. The only place it becomes a problem is with the anonymity for which crypto is supposed to protect but,it wouldn't matter much should crypto have been legalised and authorised usage in transactions. Should cash be needed, the p2p option can still work for that.

Having no cash and using everything digital only works in a dystopian first world country I think. I always am a money person, always have cash on hand. The reason is simple, many establishments in my area still uses cash and still accepts cash and the despite the efforts that were made for digital money to be available to the market. In my opinion, cash will be around for a long time and will be an integral part of our society.

If we reach a point in time where we are all under one currency and one mode of payment. We are probably governed by a big central government keeping eye on all our assets, transactions and movements. Holodomir will be likely less of concern since it will be governing bodies agenda vs our puny control.


On the other hand, fiat during this time (especially during this pandemic) is king. Though there are merits on digital transaction, fiat's stronghold on most global financial infrastructure makes it reliable as ever.


In terms of globally economy, we can clearly see most of the major countries with high GDP rates are the ones with mixed fiat and digital payments. Moreover, only China has a big margin of 12.24 T which comprised 15.4% given they are transitioning to only digital payment ( take note: CCP).

 If you change "credit" to "debit", I can agree with you, because at the end of the day debit cards are a form of cash, electronic of course, and that implies less friction when it comes to spending. In today's increasingly cashless society, debit cards are the least bad alternative. Credit cards are a much poorer alternative because they involve less friction when it comes to spending and many people end up getting into too much debt and paying a lot of interest for using them.

It would be a natural thing if one had a cash stash of my own would do the same because it could be for urgent purposes but in modern times like today maybe credit CARDS are the best solution for everyone because it's more practical and easier to be safe from no crime and probably cash is also important because it's not all on credit CARDS or coin crypto because there's still a lot of people who don't have a account At the bank for other small things I still use cash and I think in my country if it applies payment in all things with credit CARDS I think it's still too hard to make that up because the need for life is so much cash as possible. This is what makes us have the cash we need to prepare

Yes, you are right. We should hold cash. Because online money is only a Number which appears in your account.

At some point, some need a plastic credit card to use for business reasons. Still, you made your point also from what I see I am guessing that bitcoin won't be used because bitcoin needs to be dependent on fiat, without fiat bitcoin has no chance of running plus if there is a chance on the people who are rich air in the mid-class can handle can get a hold of it right? I think the government will think of them as not it's probable their government is crazy for bitcoin.

If someone made a dry run or let say country and in this country is full of businessman and woman and I think their bitcoin will be crazy people from outside that country will go berserk because of the wide numbers of exchange and me guessing bitcoin will go down and some go up still mostly goes down.

Still, there is me thinking that if bitcoin is used normally and the bank holds your money and won't give it back and people even the people are doing their best to get it, it will be only a waste of time if your country is now using bitcoin and others will not accept cash, in the end, the government of this country is making a bad decision why? that money that there holding could be the manipulator and like I said if the bank won't give it this country will go mad and crazy also it might get poor.

I totally concur with this school of thought, in as much as we want mainstream acceptance and adoption of bitcoin and other cryptos for exchange worldwide, a total abandon and neglect of cash is not a part of the plan. Cash is still very much important.

I agree to keep cash. The trend in recent years has been to increasingly reduce the use of cash, and this trend will continue. In some cases there is talk of banning it. I prefer to keep a little bit even for small transactions and because of what the OP commented. The only thing is that I believe that for some reason or another, its use will eventually die out, but I hope it will be many years from now.

Think smart you should never keep your savings in bank, since you are losing its value when its stored. And Bitcoins cannot be frozen when its on our wallet so even if such a horrible incident happens people can survive with bitcoin when its accepted as payment.

You have interesting predictions. I didn't even think about it. I think this will not happen in the modern world. People won't let that happen. But it is really better to keep all your savings not only in banks. You can keep cash, and gold, and jewelry.

I do have an ATM card, but in use, I use the cash more often, and I do like to save cash in my wallet and only 10 percent that I put into my bank or ATM. Because where I live cash is very necessary to carry out various transactions of goods and services. At my place of residence, the use of ATM or digital or NFC payment is almost non-existent, even if there is it, it is located in the city next.

Having cash in your stash is definitely a good idea. The only problem is that 99% of the world's population does not have this money that can be safely stored and wait for good times.
People get a penny to exist and blocking their accounts simply will not lead to anything as many simply do not have accounts.