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Topic: Why we should fear a cashless world - page 21. (Read 9827 times)

sr. member
Activity: 518
Merit: 258
October 09, 2017, 05:59:23 AM
for me, we should not fear a world without money. because, when there is no money. the way we see items is equal. Example: trading , when we are trading. what we want is what we get.


I don't think so. If we will have a cashless world, the more we become slave by other people because they can hold or freeze our bank accounts even if we will not give our password to them. Why? It's because they can hack our accounts without any hesitation. Unlike when we still have money, we still have the authority of controlling it because for example our bank accounts will be hacked by someone, the bank owners are responsible to retrieve it so we can get back what we lost, but if it's already cashless, we can't get our share anymore and worst we can't eat or we can't have our freedom anymore if we will not follow what the highest authority will command us to do.

The only reason why the banks give you back your money if your bank accounts gets hacked is because they have unlimited resource of fiat money. Yes, the hackers will be the modern thieves. But regardless of what type of monetary system that we have, be it bitcoin or fiat or cashless society, there will always be opportunists looking for people to take advantage of. Nothing really has changed once cashless world has achieved in terms of theft. The only solution is to be prepared for the different attacks that can be done to us and to counter that attack. Be aware of these attacks and think like the thief so you wouldn't have the constant fear that things can be taken away from you any time.

Secure your funds enough, and you don't have to feat the cashless world. The whole world is a game and a lot of people are playing, you better know the techniques of people to manipulate you into giving them the advantage that they want.
I got your point and i agree to that. We don't need something in terms of our financial aspects like cashless world or society, even we are in cashless or not, there will still be bad people who will do crimes to just get money and that is why it is all up to us on how are we going to deal with our money. We need to be smart and wise in using and preserving our money so we will not face any problem with our money.

It will always depend on how much risk a person can handle. Just like what you have said, there will always be bad people who will do bad things in order to get money. Bottomline is not only we need to be wise enough in using our money but also how much risk we are willing to take about our finances. Just like true investors always say "Don't put your eggs in one basket".
hero member
Activity: 1680
Merit: 535
Bitcoin- in bullish time
October 09, 2017, 05:44:01 AM
for me, we should not fear a world without money. because, when there is no money. the way we see items is equal. Example: trading , when we are trading. what we want is what we get.


I don't think so. If we will have a cashless world, the more we become slave by other people because they can hold or freeze our bank accounts even if we will not give our password to them. Why? It's because they can hack our accounts without any hesitation. Unlike when we still have money, we still have the authority of controlling it because for example our bank accounts will be hacked by someone, the bank owners are responsible to retrieve it so we can get back what we lost, but if it's already cashless, we can't get our share anymore and worst we can't eat or we can't have our freedom anymore if we will not follow what the highest authority will command us to do.

The only reason why the banks give you back your money if your bank accounts gets hacked is because they have unlimited resource of fiat money. Yes, the hackers will be the modern thieves. But regardless of what type of monetary system that we have, be it bitcoin or fiat or cashless society, there will always be opportunists looking for people to take advantage of. Nothing really has changed once cashless world has achieved in terms of theft. The only solution is to be prepared for the different attacks that can be done to us and to counter that attack. Be aware of these attacks and think like the thief so you wouldn't have the constant fear that things can be taken away from you any time.

Secure your funds enough, and you don't have to feat the cashless world. The whole world is a game and a lot of people are playing, you better know the techniques of people to manipulate you into giving them the advantage that they want.
I got your point and i agree to that. We don't need something in terms of our financial aspects like cashless world or society, even we are in cashless or not, there will still be bad people who will do crimes to just get money and that is why it is all up to us on how are we going to deal with our money. We need to be smart and wise in using and preserving our money so we will not face any problem with our money.
hero member
Activity: 826
Merit: 502
October 09, 2017, 03:53:25 AM
for me, we should not fear a world without money. because, when there is no money. the way we see items is equal. Example: trading , when we are trading. what we want is what we get.


I don't think so. If we will have a cashless world, the more we become slave by other people because they can hold or freeze our bank accounts even if we will not give our password to them. Why? It's because they can hack our accounts without any hesitation. Unlike when we still have money, we still have the authority of controlling it because for example our bank accounts will be hacked by someone, the bank owners are responsible to retrieve it so we can get back what we lost, but if it's already cashless, we can't get our share anymore and worst we can't eat or we can't have our freedom anymore if we will not follow what the highest authority will command us to do.

The only reason why the banks give you back your money if your bank accounts gets hacked is because they have unlimited resource of fiat money. Yes, the hackers will be the modern thieves. But regardless of what type of monetary system that we have, be it bitcoin or fiat or cashless society, there will always be opportunists looking for people to take advantage of. Nothing really has changed once cashless world has achieved in terms of theft. The only solution is to be prepared for the different attacks that can be done to us and to counter that attack. Be aware of these attacks and think like the thief so you wouldn't have the constant fear that things can be taken away from you any time.

Secure your funds enough, and you don't have to feat the cashless world. The whole world is a game and a lot of people are playing, you better know the techniques of people to manipulate you into giving them the advantage that they want.
sr. member
Activity: 658
Merit: 250
October 09, 2017, 03:41:10 AM
for me, we should not fear a world without money. because, when there is no money. the way we see items is equal. Example: trading , when we are trading. what we want is what we get.


I don't think so. If we will have a cashless world, the more we become slave by other people because they can hold or freeze our bank accounts even if we will not give our password to them. Why? It's because they can hack our accounts without any hesitation. Unlike when we still have money, we still have the authority of controlling it because for example our bank accounts will be hacked by someone, the bank owners are responsible to retrieve it so we can get back what we lost, but if it's already cashless, we can't get our share anymore and worst we can't eat or we can't have our freedom anymore if we will not follow what the highest authority will command us to do.
sr. member
Activity: 1736
Merit: 357
Peace be with you!
October 09, 2017, 02:52:19 AM
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
We should be fearful of cashless world because of fees too high for smaller transactions. Are you going to buy goods that cost only a dollar and the fee worth more than the items you buy? Bitcoin or altcoins can only be good in terms of investments not for buying our daily needs that is only worth a few dollars. Yes, there is a terrifying levels of surveillance in fiat money but we always need it, are you? Sometines we have to learn and accept the fact about controlled centralized assets because we are living in a country under a government. I think it is perfect if we have both centralized and decentralized assets.
hero member
Activity: 854
Merit: 501
October 09, 2017, 02:23:08 AM
A cashless society is giving complete control over to the bankers.

When implemented (which will happen sooner rather than later) you can expect the following -

1) Negative interest rates - spend your money or watch the balance shrink daily

2) Bail in's - Laws already in place, you are classed as an investor in the bank.  When the bank folds you loose your cash.

3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.

4) Every transaction you make is logged and audited.

5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.


Indeed. Those what you have stated are really can be the reason why we people must fear the approach of having a cashless society. Even though the currency of bitcoin is put into virtual which can be access online that really gives us benefits that we enjoy such as having an income online, we must not still do not forget to see the presence of the real money which was the one we usually use traditionally because it do have benefits also to us humans. Having those consequences of having a cashless society must be really a fearing reality to come so we must maintain the balance on the usage of crypto and natural currency which separates virtual from the reality.
There is no fear in being cashless and this will be amazing if cash is not in pocket no worries about it security everything will be in you smartphone and no one will access it and more over the facilitation that will be given in that era of no cash is amazing and enjoyable everything on just one click there will be banks and no bankrupts also.
Who will fear?? No one will complain everyone will welcome the digital currency because everyone is sensible enough to distinguish between profit and loss and there is more profit in digital one and everyone will prefer the bitcoins and world will be ready to accept this digital currency because they know cash will not give them such huge profit that is only been given by bitcoin.
staff
Activity: 3206
Merit: 575
Join the world-leading crypto sportsbook NOW!
October 07, 2017, 12:47:44 PM
I don't really believe the world will go cashless in the future, because fiat money will still be useful for the government to stay in control of the country economy, and some companies will also prefer to collect cold hard cash instead of other form of payment, so there is nothing to fear about a cashless world.
hero member
Activity: 1148
Merit: 523
CryptoTalk.Org - Get Paid for every Post!
October 07, 2017, 12:42:09 PM
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

i realize that this is a sad reality
but government should have programs to educate the rural people and the poor and make sure that technology  reaches them
and people or citizens should also take initiative
its a give and take relationship
we should help each other as much as we can

I strongly agree you Buddy. Why because, the government want to control over the People by the medium of paper Currency. For example, if they made any of currency is not valid means,all the people having that currency will affect by that act.Like wise ,government fail to educate the  poor people to had a control over them.
full member
Activity: 612
Merit: 102
October 07, 2017, 12:14:32 PM
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

i realize that this is a sad reality
but government should have programs to educate the rural people and the poor and make sure that technology  reaches them
and people or citizens should also take initiative
its a give and take relationship
we should help each other as much as we can
full member
Activity: 266
Merit: 122
October 07, 2017, 10:49:09 AM
I think the fact that not all people can adopt the technology bitcoin has is something that must fix first before entering a cashless society. It needs ro settle first the issue of how to teach uneducated people about bitcoin and how those people in the lower level of the society can access to internet aside from that who will regulate the currency if government can't..I think there's a lot of problem if we enter the cashless society
sr. member
Activity: 336
Merit: 250
October 07, 2017, 09:28:03 AM
Well there's nothing to be afraid of if you are walking without any cash/credit card on you that could be stolen off you or you can even be killed cause of it . You won't have to queue up to withdraw money from your  bank or your  ATM machine . You'll always have track of your spending and everything will be on record whenever you'll want to know what you've been throwing your money at . You'll be able to pay from anywhere and you'll pay exactly the amount needed and not worry about change or whatsoever . Moreover digital payments will offer you more security since you can block your accounts if you think you're being robbed or something and you'll eventually get your money back since it will be traceable , unlike cash money that if stolen will be impossible to get back .
full member
Activity: 266
Merit: 100
Platform for Investing in Cryptocurrency and ICOs
October 07, 2017, 05:50:10 AM
Having everything on a software is a bit dangerous. You are not able to hold your money. It can easily be taken or gone if something went wrong.
sr. member
Activity: 518
Merit: 257
October 04, 2017, 01:07:50 PM
There is no harm in being cashless....hard cash is difficult to handle and protect. But still, a huge part of society all around the is under poverty line and are illiterate. how will they all manage to survive in this tech-friendly world. So i think Being totally cash-less is not possible.
full member
Activity: 406
Merit: 101
October 04, 2017, 11:25:00 AM
A cashless society is giving complete control over to the bankers.

When implemented (which will happen sooner rather than later) you can expect the following -

1) Negative interest rates - spend your money or watch the balance shrink daily

2) Bail in's - Laws already in place, you are classed as an investor in the bank.  When the bank folds you loose your cash.

3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.

4) Every transaction you make is logged and audited.

5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.


Indeed. Those what you have stated are really can be the reason why we people must fear the approach of having a cashless society. Even though the currency of bitcoin is put into virtual which can be access online that really gives us benefits that we enjoy such as having an income online, we must not still do not forget to see the presence of the real money which was the one we usually use traditionally because it do have benefits also to us humans. Having those consequences of having a cashless society must be really a fearing reality to come so we must maintain the balance on the usage of crypto and natural currency which separates virtual from the reality.
There is no fear in being cashless and this will be amazing if cash is not in pocket no worries about it security everything will be in you smartphone and no one will access it and more over the facilitation that will be given in that era of no cash is amazing and enjoyable everything on just one click there will be banks and no bankrupts also.
hero member
Activity: 980
Merit: 507
September 30, 2017, 03:52:51 PM
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
Some people are scared of using the technology because they believe in traditional methods than in scientifical/technological methods.  Some people are scared of getting scammed and some people are scared of this and that.  Eugh, common people are you gonna be scared of anything and everythin? Man up a little. Just because there is a massive chance for cashless society to be implemented all over the world in the future, you are going to be afraid of it? I do understand most of people don't like change, but accept the fact that world doesn't move around under your fingers and like it or not the world is getting dynamic. Technology is conquering the whole world fills with new innovations.
newbie
Activity: 45
Merit: 0
September 29, 2017, 09:47:31 PM
We already live in a world that is, as far as the distribution of wealth is concerned, about as unequal as it gets. It may even be as unequal as it’s ever been. My worry is that a cashless society may exacerbate inequality even further. In a world without cash, every payment you make will be traceable. Do you want governments (which are not always benevolent), banks or payment processors to have potential access to that information? The power this would hand them is enormous and the potential scope for Orwellian levels of surveillance is terrifying.
newbie
Activity: 37
Merit: 0
September 29, 2017, 03:32:27 AM
In a total collapse, people might accept silver but I'm not sure constitutional silver is going to do you any good. The average person can't tell the difference between a silver quarter and the silver plated coins we have today and even if they can, what makes you think anyone will trust it more than the money that just collapsed? Sure, you can make arguments all day long but I'm not sure it's a sure thing as it's still just symbolic and has no real use in the day to day. On the other hand, gasoline, food, ammunition, and medicine are useful in any scenario. My first gut reaction is to figure out how to create antibiotic ointment in my basement as this would be a very valuable skill. This, however, only works in a stationary scenario where people trust or can see that your antibiotics actually work and you're not selling snake oil. Hundreds of pounds of food is also problematic if you're on the move.
hero member
Activity: 1890
Merit: 831
September 27, 2017, 12:41:29 PM
Not everyone has access to Internet; nor do everyone has sufficient knowledge to run a cashless routine... Its.. hard to go cashless in a world where there is still a margin between people.... Not everyone is provided with equal opportunities to study nor do everyone has that much money to afford a credit card or a debit card... Some people earn 1 dollar a day.... Where as some earn... 50 dollars a second... That 1 dollar a day person won't..be able to..get a bank account and.. go cashless as a whole... It can't be implemented its sheer... Insensitive towards a major sector of human population... Yes they can go hand in hand but never alone.
sr. member
Activity: 552
Merit: 250
September 27, 2017, 12:23:51 PM
In a cashless ecosystem each and every transaction gets noted to a ledger or to some data management service. This will easily make the people under a cover, governments can easily keep track and hacking possibilities too will be found high even when we have an better security system to be highly secure.
That is really the best system to keep our money, not easy to hack a decentralization network. Therefore, I believe the day we use currency created by blockchain technology will become the truth and not far.
sr. member
Activity: 910
Merit: 261
★Bitvest.io★ Play Plinko or Invest!
September 27, 2017, 11:43:11 AM
A cashless society is giving complete control over to the bankers.

When implemented (which will happen sooner rather than later) you can expect the following -

1) Negative interest rates - spend your money or watch the balance shrink daily

2) Bail in's - Laws already in place, you are classed as an investor in the bank.  When the bank folds you loose your cash.

3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.

4) Every transaction you make is logged and audited.

5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.


Indeed. Those what you have stated are really can be the reason why we people must fear the approach of having a cashless society. Even though the currency of bitcoin is put into virtual which can be access online that really gives us benefits that we enjoy such as having an income online, we must not still do not forget to see the presence of the real money which was the one we usually use traditionally because it do have benefits also to us humans. Having those consequences of having a cashless society must be really a fearing reality to come so we must maintain the balance on the usage of crypto and natural currency which separates virtual from the reality.
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