Topic: Why we should fear a cashless world - page 27. (Read 9801 times)
Being cashless means everybody is involved in the technology. The problem with this is that not everyone is updated in technology making it really difficult to have transaction especially for those people who don't even know how to use a computer or mobile. It would be disadvantage for poor people because most likely they are the ones who have no access to technology and only know the basics.
We should fear a cashless world because then the government then can keep an eye on us way to easy and most people would like there privacy.
The goverment as not to know everything that we are buying.
The goverment as not to know everything that we are buying.
The government cannot monitor all of us. And we should not fear cashless world because that is where we all are heading. Either fiat or bitcoin, the future is cashless transactions.
The government will never be able to eradicate physical cash, no matter how desperate they are for it. If they try to eradicate physical fiat, then people will switch to other mediums, such as gold bullion coins, shopping coupons, diamonds, silver bars.etc. Eradicating physical cash means that everyone in the world needs to have a 24x7 internet connection and a credit card. Do you think this is possible?
you're really right,until the technologies getting more advanced and comfortably to use,digitalize the money is just a dream,and physical cas had been proven help people a lot,so there's no point to eradicate the physical cash,if digital money and physical money could be together,it'll make life lot easier rather than choosing one
The government will never be able to eradicate physical cash, no matter how desperate they are for it. If they try to eradicate physical fiat, then people will switch to other mediums, such as gold bullion coins, shopping coupons, diamonds, silver bars.etc. Eradicating physical cash means that everyone in the world needs to have a 24x7 internet connection and a credit card. Do you think this is possible?
if everthing is cashless then we still servive on apples or on caves maybe money system is a pain but it brungs us developments and exchange of goods supplys according to our needs
Well I think that a cashless world happening wouldn't be possible for now. I think it wouldn't be possible for now because many people uses paper cash to pay for services and goods.
Yeah that's right many people didn't know about bitcoin so it's hard as of now to replace physical currency with digital (bitcoin). But, i think that there is a possibility that bitcoin will be use as main currency if many people will get into bitcoin so the bitcoin will attract more people and bitcoin will be more famous than before.
Let’s look at Botswana; this is a country in Africa and it’s where I’m currently living. Right now, the mostly used way to access the internet is through mobile service providers and its costs at least $3 for 150MB data plan; that’s the cheapest I’ve found by the way. For someone new to this country to start getting bitcoin and getting profit would be quite difficult. If there were companies offering bitcoin as payment, then it would be a much better scenario along with the improvement of internet provision.
Govt surveillance is a non-argument. You already have everything the government needs to track all your movements and most of your activities - your smartphone. Economics are a different issue though.
We should fear a cashless world because then the government then can keep an eye on us way to easy and most people would like there privacy.
The goverment as not to know everything that we are buying.
The goverment as not to know everything that we are buying.
The government cannot monitor all of us. And we should not fear cashless world because that is where we all are heading. Either fiat or bitcoin, the future is cashless transactions.
I don't think we should fear a cashless world. If it something that's going to tilt the balance or bridge the gap between the oppressed and those who own much of the wealth, then it is a welcome change. I may never live long enough to ever witness that but it would surely be a great moment to be part of. Let's hope our future generations are smart enough to know what's good for the people in general.
Yes I agree with you that majority of people, poor ones (like me), and small businesses uses cash for everyday transactions. Using bitcoins as fiat currency will or might likely to create more hardships on people like us. People who were not capable to ride on this past pace techno world.
But there were also good side on cashless world. No more holdups and no need to bring a pouch full of coins. No worry if you cannot bring a wallet or lose it. Some countries do not have enough supply of electricity. Some were not familiar with computers. Pretty sure that those things will occur like a 100 years from now.
But there were also good side on cashless world. No more holdups and no need to bring a pouch full of coins. No worry if you cannot bring a wallet or lose it. Some countries do not have enough supply of electricity. Some were not familiar with computers. Pretty sure that those things will occur like a 100 years from now.
You're mixing up some definitions here. Bitcoin is not fiat currency - it will never be. "Fiat" means that money is created without associated work, just by an act of power. That is not true for Bitcoin, which require significant work to be created.
Bitcoin is electronic cash. I think with "cashless" you mean no physical cash. I think even if Bitcoin becomes a dominant currency and electronic cash is the norm, some (informal) form of physical cash will continue to exist. At least there will be physical objects that have worth, so people will always have the opportunity to invest in something "real".
Bitcoin will not create more hardships for the poor. Instead it will help them to be freed from the dangers of inflation that are tied to state-controlled fiat currencies. This will it make easier to save money and slowly but steadily improve one's economic situation. Of course it's true - the sooner people own some Bitcoin the higher the gain in purchasing power as adoption increases.
ya.ya.yo!
Yes I agree with you that majority of people, poor ones (like me), and small businesses uses cash for everyday transactions. Using bitcoins as fiat currency will or might likely to create more hardships on people like us. People who were not capable to ride on this past pace techno world.
But there were also good side on cashless world. No more holdups and no need to bring a pouch full of coins. No worry if you cannot bring a wallet or lose it. Some countries do not have enough supply of electricity. Some were not familiar with computers. Pretty sure that those things will occur like a 100 years from now.
But there were also good side on cashless world. No more holdups and no need to bring a pouch full of coins. No worry if you cannot bring a wallet or lose it. Some countries do not have enough supply of electricity. Some were not familiar with computers. Pretty sure that those things will occur like a 100 years from now.
We will never live without cash, we will have different form but cash will never go away. I believe cash is something more than a negotiable instrument and a currency. It actually deals with our psychology and thus we feel that a bag with bucks is better than interest free credit limit of higher amount. I couldn’t resist myself from quoting this link of TED talk
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.
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.
When this happens, decentralized currencies will begin to be seen in better light
I can't imagine cashless world. There are many places on the Earth where there are no computers and internet and in some of them even there is no electricity. Cashless world would make banks and online services rich and those people who created it. It would be just a new way to steal money from us with their commissions and services.
Upon reading that article it made me think that yes, it could possibly bring fears on how cashless world will affect us. But I do not think that it would basically affect everyone here in this world right now. As many people are still used of and would prefer to pay things or goods or stuffs that they bought using tangible money.
Being cashless would mean every transaction everything we buy will be seen by the government, but who would care to ordinary people. Those will be good if you would want to trace and have background check on corrupt politicians.
Being cashless would mean every transaction everything we buy will be seen by the government, but who would care to ordinary people. Those will be good if you would want to trace and have background check on corrupt politicians.
Financial sector has to big interests and everything happens like they want, they control everything whether we like it or now. I can't see the way how we can change this. They are just to strong, to powerful.
We would fear a cashless world because then the goverment would be able to keep track of everything that we are buying on a daily bases and I would not agree with that.
I would like to keep my privacy not that I have anything to hide but I just want to keep somethings to my self.
I agree because I would also like to keep my privacy a bit and with a cashless world this is going to be somewhat impossible. I would like to keep my privacy not that I have anything to hide but I just want to keep somethings to my self.
But I do not think that this is going to happen anytime soon know because some countries are just nor ready for a big change like this.
I do not like that fact and I am surely not agreeing with it.
I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.
USA doesn't make's a change actually.You think we could make cashless world if USA wouldnt exist?
No way buddy,there are too many companies,countries and people against it to make it happen
i dont imagine leaving in such a world wow...
Communism or something? u cant spread the goods over the people that everyone would have the same,its just not possible...
A dream,but i would say it's more like a nightmare
Cashless world would be full of corruption because the transparency may decrease and we have to depend on the virtual moneyCommunism or something? u cant spread the goods over the people that everyone would have the same,its just not possible...
A dream,but i would say it's more like a nightmare
exchange and it may seem secured but are not secured than the cash. Though it is not possible because it would take a fortune
to forget cashes. If we have rely on virtual currency globally than the whole world should be computerized and most of the
richest but hostile country doesn't want some countries to progress, in that case it is not possible.
We would fear a cashless world because then the goverment would be able to keep track of everything that we are buying on a daily bases and I would not agree with that.
I would like to keep my privacy not that I have anything to hide but I just want to keep somethings to my self.
I agree because I would also like to keep my privacy a bit and with a cashless world this is going to be somewhat impossible. I would like to keep my privacy not that I have anything to hide but I just want to keep somethings to my self.
But I do not think that this is going to happen anytime soon know because some countries are just nor ready for a big change like this.
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