We No Longer Pay People Directly | Bitcointalksearch.org

Findingnemo

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Quote from: proud55 on December 13, 2022, 01:00:40 PM

The less we use cash, the more we pay people through a corporation. The last remaining use of cash and direct payments is Tipping.
Everything else we must pay through a corporation. We cannot pay another human unless there is a corporation involved. As cash disappears this becomes a final fact -- a corporation involved in every financial transaction you pursue. In each transaction, the corporation is taking their percentage but also controls and monitors your transaction.

BTC

Bitcoin

I don't exactly understand what you mean by corporation, either its company or bank!

But the cash aka fiat itself is enough whether we use digitally or physically because the money is nothing but paper printed out of thin air and the supply increases every year so the payment processor getting a percentage is nothing compared to the money we actually use don't have any intrinsic value at all.

n0ne

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What OP have come to say isn't clear. I understood that the involvement of third party have taken most of the places other than tipping. In the past people used to make direct transaction with fiat and now everything is done through a third party payment application. Only for tipping purpose fiat is used. In reality tipping too happening through scan and pay. So, what he mentioned as Corporate is taking control of everyone's fund. This will slowly change when people slowly move towards bitcoin.

BitDane

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Quote from: redsun114 on December 17, 2022, 05:04:02 PM

So what you are trying to imply here? That BTC is much better than cash because BTC doesn't need a third party? Hell yeah, though I think this mainly applies online but in real life, it is actually possible to pay another person directly by using a cash.

It is better than cash if we can directly transact with BTC but adoption isn't that spread yet. There are lots of Bitcoin merchants that accept payment via third party application that converts BTC to cash as we pay for our purchase.

Quote from: redsun114 on December 17, 2022, 05:04:02 PM

The first line in your sentence can be true depending on the medium that we use for transacting E.g for credit cards because there are interest rates on them but BTC? I don't really think so. I know I should be confident with this one thinking that BTC is decentralized but I realize that we have to pay the miner to process our transactions however there are alternative cryptos our there which are almost free to use.

The idea of we no longer pay people directly is a moot. Just go to a marketplace and have a transaction. We can still pay people directly. I don't know if OP had made any activities around the local marketplace. I bet he doesn't and is not aware that market still accept cash and cash alone.

redsun114

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So what you are trying to imply here? That BTC is much better than cash because BTC doesn't need a third party? Hell yeah, though I think this mainly applies online but in real life, it is actually possible to pay another person directly by using a cash.

The first line in your sentence can be true depending on the medium that we use for transacting E.g for credit cards because there are interest rates on them but BTC? I don't really think so. I know I should be confident with this one thinking that BTC is decentralized but I realize that we have to pay the miner to process our transactions however there are alternative cryptos our there which are almost free to use.

Fara Chan

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Quote from: Fivestar4everMVP on December 13, 2022, 01:17:11 PM

Though you weren't clear enough, but from the little I understood, I would say that to a great extent, you are right about not being able to pay another human except a cooperation is involve when payment has to do with cash, which I would like to refer to as fiat.

This relationship continues with the cooperation that has begun to be built, and in my opinion this relationship cannot be calculated as a whole, if you want to use bitcoin payments, because fiat currency is still considered important by some people.

Quote

Bitcoin is indeed, freedom and has brought freedom to the finances of as many that have embraced it, I am a living testimony to this fact, fiat found with me this days are fiat ready to be spent, bitcoin and some other notable cryptocurrencies have become my savings account, and I've never receive any debit alerting me to a removal of funds for card or account maintenance(a thing very common with money saved in the bank).

For this I quite agree, that bitcoin can be accepted as freedom to store the best assets in the long term, so it does not require debit, card or account maintenance and is not charged with any administration fees as long as we keep it. Bitcoin is more rationally used as a storage asset and is able to maintain value, so that humans are free to determine the direction of investment and transactions that involve themselves.

Zilon

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Quote from: proud55 on December 13, 2022, 01:00:40 PM

The less we use cash, the more we pay people through a corporation. The last remaining use of cash and direct payments is Tipping.
Everything else we must pay through a corporation. We cannot pay another human unless there is a corporation involved. As cash disappears this becomes a final fact -- a corporation involved in every financial transaction you pursue. In each transaction, the corporation is taking their percentage but also controls and monitors your transaction.

BTC

Bitcoin

By corporation, I guess you mean third party intermediaries. And for sure the disappearance of paper money will result in close monitoring, less privacy and full control over our funds. Bitcoin is also less private, but it gives full control of our funds with no central third party intermediary to monitor who owns what and how it came about. Taking percentages for transactions is a norm. That is less of a worry, the concern should rather be how secure this transactions are and who controls and own them because whatever is not controlled by the user is never owned by that user.

worle1bm

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That's right with these digital transactions there third party involvement in settling the transaction having it's fees and in this case it's the banking institutions and we can't cut them loose also as it's supposed to work that way.The government will never loose its control over your money and will always monitor your spending habits which is why many people are shifting to btc like decentralisation tools to have full freedom of your funds and no third party involved.

The digital transactions are at very high rate and rising even more after pandemic because the people are finding it more easy to pay through your mobile with your banks linked to it rather then carrying cash in your hands but still there are some small merchants left who are not accepting it but at mass around me people accept it.But as said the central control by government can't be avoided in these cases.

Poker Player

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Quote from: lixer on December 16, 2022, 03:19:43 PM

I am pretty sure that mobile payments will become even bigger than everything else. We may not be aware of it right now, but almost all banks either have it or working on it where you as the vendor will show a QR code, and the payer will open up their bank app and just read the qr code and confirm the payment and that's it.

No more of this old card stuff, just our mobile phones will be enough. This already started and will be huge. During this period crypto will become huge as well because we will be able to pay with crytpo apps instead of bank apps and just pay the vendor. That future is great, I want to be in that future and it looks to be great.

I don't know where you live but mobile payments are already a reality in most rich countries, even for small payments, and I doubt that mobile payments using fiat will be replaced by cryptocurrency payments. It's going to depend a lot on legislation which is one thing that doesn't look good. If they impose KYC for any transaction, paying for a coffee will have you perfectly identified just like when you pay by card or CBDC and will also potentially create a taxable event. A taxable event, potentially, for every payment you make in your whole fucking life. For that I believe that people will not get complicated and will pay with the means that do not create taxable events.

TanhyaTrudy

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The shopping app has analyzed our shopping preferences in our daily spending and automatically pushes various advertisements.
Cash payments are rarely used, and online payments are inevitably tracked and analyzed.
Payments in cryptocurrencies are not yet widespread. I really hope that day comes sooner.

lixer

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Quote from: proud55 on December 13, 2022, 01:00:40 PM

The less we use cash, the more we pay people through a corporation. The last remaining use of cash and direct payments is Tipping.
Everything else we must pay through a corporation. We cannot pay another human unless there is a corporation involved. As cash disappears this becomes a final fact -- a corporation involved in every financial transaction you pursue. In each transaction, the corporation is taking their percentage but also controls and monitors your transaction.

I am pretty sure that mobile payments will become even bigger than everything else. We may not be aware of it right now, but almost all banks either have it or working on it where you as the vendor will show a QR code, and the payer will open up their bank app and just read the qr code and confirm the payment and that's it.

No more of this old card stuff, just our mobile phones will be enough. This already started and will be huge. During this period crypto will become huge as well because we will be able to pay with crytpo apps instead of bank apps and just pay the vendor. That future is great, I want to be in that future and it looks to be great.

fennic

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Quote from: proud55 on December 13, 2022, 01:00:40 PM

The less we use cash, the more we pay people through a corporation. The last remaining use of cash and direct payments is Tipping.
Everything else we must pay through a corporation. We cannot pay another human unless there is a corporation involved. As cash disappears this becomes a final fact -- a corporation involved in every financial transaction you pursue. In each transaction, the corporation is taking their percentage but also controls and monitors your transaction.

BTC

Bitcoin

I have not understood your question properly but I will say that Crypto is only thing that will reduce fiat cash distribution. Cause more we use Bitcoin and crypto more people will gain knowledge and also more w will be able to generate income. And that will be super great. And I cannot believe that there are still some people who say that Bitcoin is a fraud and it has no future. But in near future they will see Bitcoin future than they will cry and they will be in so much shock 😲.

Flexystar

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Actually they are involved because there needs confirming authority for everything these days. This also makes sure that government is getting the taxes paid so that they can use the money for national developments and also for emergencies throughout country. I think it’s pretty fair system in the world where we live. And don’t worry we are paying taxes since thousands of years.

First there were King rules, dynasties, princely states and what not. Everyone paid taxes to get protection within that region from enemies or what not.

Even though there was no online payment system.

We can only be free if there was no such thing as tax.

KaliLinux

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Quote from: Falconer on December 16, 2022, 12:09:59 PM

Quote from: AbuBhakar on December 16, 2022, 10:54:46 AM

However, we know that somehow in the future digital transactions were much be in demand than having cash. So, it will be better if we can adopt now and learn how to use it than be left out.

It makes much more sense for us to hope than to think anything about the statements of the government or people who think negatively about this decentralized currency. Bitcoin is expected to become the most popular currency in the future for daily transaction needs, but I will still think about regulation or legality because it is clear that the government will try to reduce the adoption rate by issuing CBDC. They will have their own centralized crypto, so regulation will remain a barrier for decentralized currencies like bitcoin.

Can CBDC be really referred to as Crypto? I noticed in a couple of threads that some have referred to CBDC as crypto is this not misleading or am I the one that doesn't fully understand?
Anyways, I believe a digital transaction is where most countries are headed hence fewer cash transactions. My country just passed a law of reduction on the cash you can withdraw from your bank account weekly/monthly OTC or ATM because they are trying to encourage cashless transactions even though they still have restrictions on Crypto transactions, so at the end of the day, the Government will eventually be a determinant whether the use of Bitcoin and other cryptos will be used regardless whether we want it since some are strongly promoting their CBDC.

Frankolala

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Government cashless policy,transactions are managed by corporation which makes it a centralized system, they can monitor and trace any suspected illegal transactions or money laundry, and freeze the account if it is true. They are only extorting citizens with cashless transactions due to charge rates that sometimes might be cumbersome, mainly if you have just $500 in your account and want to pay for something important that is worth $500, it will make you impossible to purchase it due to their charge rate

The only way for financial freedom is to embrace bitcoin fully for transactions in other to be free from the government, financial institution and third party to limit the charge you pay for transfers and this is what the government hates about bitcoin because it gives them no access to track your transactions or even know if you are making or not making a transaction due to its decentralized system

buwaytress

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Tipping? Unless it is directly one to one, it goes through a corporation anyway and relies on the service provider to share and distribute the tips. Only time one to one happens now is delivery. Even at caterig business it all goes into some pool you hope works out for the guy you really want to tip.

Want to say Bitcoin is the way out of this but most times I use Bitcoin to buy something it still goes through a Bitpay or similar processor, if not a gift card company accepting BTC topups.

I even will admit most of my liquidation still goes through a third party for escrow protection so yeah, I do get paid directly thanks to Bitcoin and I love that... Sadly I don't get to pass it on directly very much.

Falconer

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Quote from: AbuBhakar on December 16, 2022, 10:54:46 AM

However, we know that somehow in the future digital transactions were much be in demand than having cash. So, it will be better if we can adopt now and learn how to use it than be left out.

It makes much more sense for us to hope than to think anything about the statements of the government or people who think negatively about this decentralized currency. Bitcoin is expected to become the most popular currency in the future for daily transaction needs, but I will still think about regulation or legality because it is clear that the government will try to reduce the adoption rate by issuing CBDC. They will have their own centralized crypto, so regulation will remain a barrier for decentralized currencies like bitcoin.

AbuBhakar

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Quote from: borovichok on December 16, 2022, 10:36:26 AM

People who use cash to pay for their bills is either they're ignorant of the digital age or the government have pace high restrictions on cryptocurrency, because they've foreseen the future and knows fully well that it will affects them the most. Cryptocurrency is one of the thing that have happened to the digital age and it will stop at nothing till it have been fully spread across the world. There's enough time for it to go round and those countries that ban it are only doing its citizens harms by refusing them to participate in the new digital age transformation.

Most of the country who are not that high yet in adopting digital payments are scared due to the news and issues of scamming, in my country the purpose and advancement of crypto weren’t usually in news but when there are news of scam attempt or people loses their money in crypto even they are the ones who bought or invest in some unknown coins it refers sometimes in news as crypto or bitcoin which is announced in television as if it only gives negative feedback so others are scared to use it. However, we know that somehow in the future digital transactions were much be in demand than having cash. So, it will be better if we can adopt now and learn how to use it than be left out.

borovichok

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Quote from: arwin100 on December 15, 2022, 06:54:05 PM

Many people still use cash since their digital infrastructure is not so good and their digital economy is not well backed up by the government. Maybe if there's an upgrade towards this and they could make their internet fasten up and have digital economy upgrades we can see many third world country would adopt this changes. Its just the government is the problem to make this transition to happen.

People who use cash to pay for their bills is either they're ignorant of the digital age or the government have pace high restrictions on cryptocurrency, because they've foreseen the future and knows fully well that it will affects them the most. Cryptocurrency is one of the thing that have happened to the digital age and it will stop at nothing till it have been fully spread across the world. There's enough time for it to go round and those countries that ban it are only doing its citizens harms by refusing them to participate in the new digital age transformation.

Plaguedeath

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Quote from: arwin100 on December 15, 2022, 06:54:05 PM

Many people still use cash since their digital infrastructure is not so good and their digital economy is not well backed up by the government. Maybe if there's an upgrade towards this and they could make their internet fasten up and have digital economy upgrades we can see many third world country would adopt this changes. Its just the government is the problem to make this transition to happen.

The government and the centralized entity are lazy enough to freeze the funds, actually they can prevent any scam or lost by user fault 100% since they have full control over their money. Even though the scammer send their money to an entity that the government doesn't have any control, but they can detect it since the user already submit full KYC upon registration.

When you steal someone money in cash, only CCTV and video to search the criminal, but if the criminal is using centralized digital infrastructure, there's no way to hide it.

The Cryptovator

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I am pretty much confused about what you mean by corporate. Does it mean a payment gateway for crypto payments? If so that's fine. Even though not with crypto payment but world moving to a cashless payment system day by day. It's with card payment or MFS services. MFS services become popular too quickly and crypto still struggles to do the same. The main problem is the government still hasn't allowed accepting crypto this way like MFS. Need more adaption by the government to become a popular crypto payment system.

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