Topic: Why we should fear a cashless world - page 10. (Read 9767 times)
Every transaction will be transparent, so it will be very hard to make peer-to-peer payments for products or services without taxes, regulations, contracts and so on. Want to lend your friends some money or buy something from them? The authorities will know about it and if there’s any opportunity to tax it, they will certainly do that.
Good point, but weren't cryptoccurencies about that long-craved "decentralization and anonimity"?
You are right, cryptos still need time before replacing a country's currency, but we have the example of Venezuela. A year ago, 1 bottle of 0,5l water was 1200 bolivars (~$1). One year later, the same 1200 bolivars are worth LESS than a penny. My question is, when will the time come for a country like Venezuela to make such a radical change in order to save itself from an economic crisis?
You are right, cryptos still need time before replacing a country's currency, but we have the example of Venezuela. A year ago, 1 bottle of 0,5l water was 1200 bolivars (~$1). One year later, the same 1200 bolivars are worth LESS than a penny. My question is, when will the time come for a country like Venezuela to make such a radical change in order to save itself from an economic crisis?
I don't see the reason why bitcoin is the only one given as an example in this "cashless world". I am not a holder, but BCH seems to be able to do exactly the same thing, without needing anything added (like the LN for btc). Surely, btc is more popular, but that doesn't mean it is the most viable option ever.
And I don't see the reason why the only one option we are thinking are digital currencies since there are a lot of other things besides that. One of the first one to be used when we say "cashless society" is cards, and I think it is happening since a lot of rich people don't really carry money with them but just bring credit cards with them. Digital currencies are still not ready to be a replacement for being a country's currency, there are still a lot of improvements that needs to be done and also not all people will accept digital currencies that easily to be used in their every day lives.
I don't see the reason why bitcoin is the only one given as an example in this "cashless world". I am not a holder, but BCH seems to be able to do exactly the same thing, without needing anything added (like the LN for btc). Surely, btc is more popular, but that doesn't mean it is the most viable option ever.
Not if the way micro transactions were done were also on a blockchain. You won't be subject to surveillance if your blockchain is privacy based and doesn't allow for you to be known. I embrace a cashless world and welcome it anytime now.
I wish the transaction will be low so everyone can benefit the blockchain, for now the transaction fee of bitcoin is really high which is not good for micro transaction. There are a lot of options that we can use because the crypto market is getting bigger and there are big competition which could bring better service for us.
Forcing consumers to go cashless comes with concerns. Those hurt the most could be the poor and small businesses who today rely deeply on cash. Some believe that a contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance.
Certainly our privacy will be compromised whenever that system is pushed forward and the governments of the day could easily manipulate the system to collect taxes and create more poverty especially among the low income families.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Cashless is better and good because it will make us at ease and safe during transactions unlike bringing cash on the streets especially today in which many bad guys are now roaming in the roads but i'm afraid this will not happen in the whole world specially in the third world countries in which many are very poor in education in which education is vital to the digital process.
Yes, i agree on that, hope they will always give option not to push/force on that..
I think cashless society is better than our current society for its efficiency is higher.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Yes, the world we live in now accounts for more than 60% of the transaction, and the rest are other types of transactions, which shows the importance of cash to us, Most of them use cash because those places have not been developedhttp://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Yes, the world we live in now accounts for more than 60% of the transaction, and the rest are other types of transactions, which shows the importance of cash to us, Most of them use cash because those places have not been developedhttp://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Yes, the world we live in now accounts for more than 60% of the transaction, and the rest are other types of transactions, which shows the importance of cash to us, Most of them use cash because those places have not been developed http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
no one in the world are pleased to lose money, but also no rich people never lose money. contrast, a lot of the poor are never lose serupiah also, since they actually never invest or business at all.
When all the money will be in our country's account in sight, then they will all know about us. And then great control will begin and demand from us, where did we get this money, and also pays to pay taxes.
Not if the way micro transactions were done were also on a blockchain. You won't be subject to surveillance if your blockchain is privacy based and doesn't allow for you to be known. I embrace a cashless world and welcome it anytime now.
I wish the transaction will be low so everyone can benefit the blockchain, for now the transaction fee of bitcoin is really high which is not good for micro transaction. There are a lot of options that we can use because the crypto market is getting bigger and there are big competition which could bring better service for us.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
It is indeed a scary thought. What’s more terrifying is that this is slowly becoming a reality. A cashless world easily means a world that will be easy to manipulate. Everything will be controlled with just a snap. http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
First of all, we have no assurance that it will happen for many problems may arise when it happens. Cryptocurrency runs through the internet so it will be a big problem if our internet connection fails. I believe that having cash in society is very important because there are still individuals who are not knowledgeable in cryptocurrency. In addition, there is a big possiblity that they will be cheated by others.
Not if the way micro transactions were done were also on a blockchain. You won't be subject to surveillance if your blockchain is privacy based and doesn't allow for you to be known. I embrace a cashless world and welcome it anytime now.
We should fear cashless society because all of our money will be taxed and detected by the government. Cashless society can't be applied in our country. A lot services are paid by cash and it is almost impossible for them to be cashless. I can't imagine buying food on the street using my ATM or credit card. Street vendors will not be able to afford the machine that reads cash payment. If there is no electricity, how can they accept payment. We live in a country where the weather is unpredictable and storm are most likely to come so preparing for power outages is a must. This will be a problem for cashless society. May this is applicable in other country but not yet for ours.
A small buyer will be greatly affected by this cashless world. Some can't afford to buy a new gadget that will be needed for this kind of technology.
Forcing consumers to go cashless comes with concerns. Those hurt the most could be the poor and small businesses who today rely deeply on cash. Some believe that a contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance.
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