The article gives some valid points but I stopped reading when i saw:
"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."
Um. How will they track privacy oriented coins? Monero? Zcash?
Seems like this is a good example of resistance to good change. What you must remember here is that the benefits of crypto currencies outweigh the risks.
Topic: Why we should fear a cashless world - page 22. (Read 9827 times)
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.
I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.
I never want to see this because its too technical I mean natural and simple way of living will be extinct and thats not my visoin of life, I want to stay with this kind of like I mean, I can pay my ice cream using my coins, I will lost my wallet because of being clumsy, I dont see all my profits will be in digital way, I have red somethat it maybe a way to punished someone like if your not a good one rhey may closed all your account , see? terrifying.
I dont fear a cashless world, in fact its a good idea. My concern is when will it be adopt? Because there are less people in the world knows about Bitcoin, so it will be hold to that idea of cashless world. And If that happens, and so does in the banks,it will probably be easy for all of 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
A cashless system will not work everywhere especially the third world countries, we are very much dependent on using cash to make about 99% of all our transactions, there are also illiterate individuals that won't simply understand how the system is going to work in it's entirety and that will pose too many troubles for the system. It's not worth the trouble.http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
For me the one reason to become fear in the cashless money if this will fall and to lose our money using this. Since most of the bitcoin user used the bitcoin as source of income they want allot of profit not a losing of money, it means that they don't want to happen the falling of their business like investing or trading using the crypto-currency. Additonally we can't predict what will happen in the future in the world of crypto-currecny.
Well it has the both sides the bad and the good if we look at the positive side we will think positive so being a cashless world mean everyone is involved In the bitcoin and the crypto currency but the problem will be that not all the people are known to the technologies it will be easy and facilitated world for those who will earn and are aware of the use of bitcoin but it will be bit difficult for a few people who don’t know bitcoin and the use of the bitcoin properly. 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
A cashless system will not work everywhere especially the third world countries, we are very much dependent on using cash to make about 99% of all our transactions, there are also illiterate individuals that won't simply understand how the system is going to work in it's entirety and that will pose too many troubles for the system. It's not worth the trouble.http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Exactly. It shouldn't be feared but we should start thinking about how it will benefit us all in the long run. I don't see us going cashless anytime soon but we should already be able to incorporate cashless transactions to make ourselves aware of how it works
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
A cashless system will not work everywhere especially the third world countries, we are very much dependent on using cash to make about 99% of all our transactions, there are also illiterate individuals that won't simply understand how the system is going to work in it's entirety and that will pose too many troubles for the system. It's not worth the trouble.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
A cashless system will not work everywhere especially the third world countries, we are very much dependent on using cash to make about 99% of all our transactions, there are also illiterate individuals that won't simply understand how the system is going to work in it's entirety and that will pose too many troubles for the system. It's not worth the trouble.http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
For me the one reason to become fear in the cashless money if this will fall and to lose our money using this. Since most of the bitcoin user used the bitcoin as source of income they want allot of profit not a losing of money, it means that they don't want to happen the falling of their business like investing or trading using the crypto-currency. Additonally we can't predict what will happen in the future in the world of crypto-currecny.
No one in this world is happy to lose money, but also no rich person who never loses money. Conversely, many poor people never lose a single currency, because in fact they never invest or do business at all.
The fear of losing money is very real. Everyone has fear, even the rich are afraid. The difference is, because of the fear, the poor stopped acting. The rich, because of fear they will be careful but still act.
The fear of losing money is very real. Everyone has fear, even the rich are afraid. The difference is, because of the fear, the poor stopped acting. The rich, because of fear they will be careful but still act.
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
A cashless system will not work everywhere especially the third world countries, we are very much dependent on using cash to make about 99% of all our transactions, there are also illiterate individuals that won't simply understand how the system is going to work in it's entirety and that will pose too many troubles for the system. It's not worth the trouble. http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
The non-cash world will destroy many sellers and increase fraud cases due to anonymity. The banking system will never allow such a turn of events which will be unprofitable for many sellers.
It is possible the relationship between net neutrality and ISP's (internet service providers) could apply to a cashless world.
Many support net neutrality with the idea that ISP's will raise rates/fees and resort to exploitive behavior if net neutrality is abandoned. The way ISP's are structured, some consumers only have 1 ISP as an option in their geographic area. having only 1 ISP as an option creates something like a monopoly which could pave the way towards ISP's adopting exploitive and predatory business practices as many have no recourse but to accept them.
Banks too could have something resembling a monopoly over buying/selling/exchange if cash transactions were banned, leaving only electronic transactions. Banks having a large majority of the electronic payment industry could give them something like a monopoly which could also pave the way towards banks resorting to exploitive and predatory business practices if paper money were ever banned.
Many support net neutrality with the idea that ISP's will raise rates/fees and resort to exploitive behavior if net neutrality is abandoned. The way ISP's are structured, some consumers only have 1 ISP as an option in their geographic area. having only 1 ISP as an option creates something like a monopoly which could pave the way towards ISP's adopting exploitive and predatory business practices as many have no recourse but to accept them.
Banks too could have something resembling a monopoly over buying/selling/exchange if cash transactions were banned, leaving only electronic transactions. Banks having a large majority of the electronic payment industry could give them something like a monopoly which could also pave the way towards banks resorting to exploitive and predatory business practices if paper money were ever banned.
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
Yes, this may be true but I do not think that we should really fear a cashless world. However, there are certain security related questions that have to be asked - as you have pointed out. If we all have our money in a wireless account, hackers will be investing more time and money into cracking that.
However, despite this, I do think that wireless transactions will be the future and that wired / cash will be eliminated altogether. While this may not happen any time soon, I certainly see it feasible within the next few decades. We should also remember that wireless transactions are not just cryptocurrencies.
I don't believe such a thing will happen in the nexst 10 years that bitcoin will be worldwide acceptable. This because there are so many part of the world today that the cost of Internet subscription is too high that the poor cannot afford. And there are some part of the world that are still operating trade by batter despite the present of fait currency. And lastly, so many people don't know how to operate computer and highly advance cell phone let alone to read in their general language which will make it difficult for the poor and illiterate to operate in such a system.
Cashless economy doesn't only means the cryptocurrencies we are looking at now. When there will be a cashless economy, governments of every country would have their own online currency backed by them just like fiat. Right now a cashless society isn't certainly possible. But in future, cashless economy will definitely be a reality. Governments and banks would change accordingly.
When we talk about cashless society, meaning all Bitcoins or digital currency society, the tendency is that the economy of the countries will not be able to perform properly. This is because the rates of the currency of each country are determined through the supply and demand of a country. With that, it will be hard to determine to the currenct rates and balance it with the interest rates. We might also have a negative interest rate because of that.
In fact all people businesses rely cash. Yes we are now living in which cashless transaction exist but what is the main reason they are being accepted?
I am not sure whether i am able to understand everything you said here,but we have the option to have cashless transactions with the help of debit and credit cards and things are changing ,now we have more options rather than carrying hard cash
In our society we got used cash as our transaction. We trained to use it as our money especially when buying things it is more easy to use than digital money. People are got used in cash thats why it is hard for all that cash will be remove. So, it is so hard for us a cashless world. We should fear a cashless world because many people are poor in knowledge about technology.
. You're right dude. And the requirements of a cashless society may not be available for the lower levels of society. It's not as if access would be given freely to all people. Of course there will be terminals used for cashless trnasactions. We may need cards, stable internet snd all that which is of course readily available for people in the higher levels but those in lower tiers, it would be a challenge if we go entirely cashless
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