Why we should fear a cashless world - page 29.

marcuslong

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Quote from: McDonalds5 on March 21, 2016, 07:50:25 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 fear a cashless world because if you need it in emergency you cant use it in other place, because many store, hospital, and supermarket didnt accept bitcoin. In reality many establishment rely on cash and thats the disadvantage of bitcoin you cant pay it if you need it. You need to convert before you use it. So for me if wholeworld accept bitcoin is the best, because i can use bitcoin directly.

Maslate

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Quote from: botany on June 18, 2016, 06:15:28 AM

Quote from: Rizky Aditya on June 18, 2016, 03:50:26 AM

A cashless world would never happen. Governments of countries would never let this happen. Bitcoin is one of the worst things for them. If bitcoin doesn't give them any benefits, then they are just going to stick with fiat.

Governments are the ones who are pushing for a cashless world. A cashless world doesn't mean bitcoin. It means that all transactions are conducted through banking channels and there is no leakage in tax revenue.

Yeah you are right, but they want to comply us with the tax laws as they want to charge tax in every transactions that we will make. That is true because if they are really with cashless world then they should adopt bitcoins and it is decentralized and will guarantee to be more transparent.

botany

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Quote from: Rizky Aditya on June 18, 2016, 03:50:26 AM

A cashless world would never happen. Governments of countries would never let this happen. Bitcoin is one of the worst things for them. If bitcoin doesn't give them any benefits, then they are just going to stick with fiat.

Governments are the ones who are pushing for a cashless world. A cashless world doesn't mean bitcoin. It means that all transactions are conducted through banking channels and there is no leakage in tax revenue.

partysaurus

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where i live now , like 90% use card to pay for everything , to be honest its been years since i had cash in my hand. only using my card for everything.

ASHLIUSZ

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Quote from: davis196 on June 18, 2016, 02:38:56 AM

Quote from: McDonalds5 on March 21, 2016, 07:50:25 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

In a cashless world people will become slaves of the technology and if the system crashes,billions of dollars

could dissapear.People still need paper money and paper money are still useful.

Bitcoin can be printed and used as paper money.That`s not a problem

Cash means total financial inclusion. Without financial inclusion you are trapped in poverty. Small businesses starting out need the cash economy. Poor people need the cash economy.

Rizky Aditya

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A cashless world would never happen. Governments of countries would never let this happen. Bitcoin is one of the worst things for them. If bitcoin doesn't give them any benefits, then they are just going to stick with fiat.

davis196

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Quote from: McDonalds5 on March 21, 2016, 07:50:25 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

In a cashless world people will become slaves of the technology and if the system crashes,billions of dollars

could dissapear.People still need paper money and paper money are still useful.

Bitcoin can be printed and used as paper money.That`s not a problem

HeroCat

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This will not happen, there are a lot of people, who use paper cash in payments. Currently only in USA people are tend to use credit/debit cards more and more. Wink

eternalgloom

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Quote from: by.Szun on May 10, 2016, 12:35:54 AM

Quote from: SFR10 on March 21, 2016, 10:26:56 AM

Well in case some didn't knew, Sweden was the first cashless country since past 4 or 5 months (IIRC) and they haven't suffer any problem so far and the route for other countries is surely the same, it's just the matter of when it will happen.

Just as a note, Sweden is not yet fully cashless. Still quite a ways to go. The trend is leaning towards cashless, but plenty of places still accept physical currency.

Cashless also grants governments and other parties the ability to fully monitor your cash flow. They will know how much you make from your side job tending bar, how much you spend on pornography, where you travel. Police will track those odd $20 given to the same person every Saturday afternoon, when they realize that this same person is receiving the same amount from a dozen other people at the same time. Congratulations, you are now an open book.

Yeah when I read that post (Sweden already being completely cashless) I thought it was exagerrated. People there do make a lot more use of cards than cash but it's not completely cashless. Small purchases are still paid in cash.

I would not want to be homeless in a cashless society, how would you even get some money from begging if that was the case? Are they planning to expand the social security system alongside it?

DuckKeeper

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I think we should fear a cashless world because if everything becomes digital the government will be able to check our money us better. People need to deserve privacy and the government does not need to know what we buy all the time.

Maslate

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Quote from: RobinHoodster on June 08, 2016, 04:14:21 AM

Quote from: RomerZolt on March 21, 2016, 10:20:50 AM

I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.

If the world was cashless then working would not be a thing and we would have to go back to or hold ways by hunting and stuff. Or making only gold, silver and bronze valuable.

In my understanding cashless mean not using paper money. That would be awesome as we can prevent robbery in the bank and even robbers on the street, more convenient for the people and more secured in keeping their money.

Piltover

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That is not going to happen and that is because there are still a lot of people that is having some cash and that is really nice.
But you can already see now indeed that many people are now using Bitcoin and that it is becoming more popular.

RobinHoodster

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Quote from: RomerZolt on March 21, 2016, 10:20:50 AM

I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.

If the world was cashless then working would not be a thing and we would have to go back to or hold ways by hunting and stuff. Or making only gold, silver and bronze valuable.

bryant.coleman

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Quote from: Maslate on May 30, 2016, 01:08:55 AM

The crimes for robbery will be minimize and people becomes more aware and educated on the internet world, plus the transaction are very fast.

It is going to be the other way around. Robberies will increase many fold, as it is quite easy to hack in to the wallets and exchanges, especially if the user is not that tech savvy. Transactions will be slow, as everyone need to wait for a minimum of three or six confirmations. And the worst part is that the government will be able to track everyone's spending.

msuhaimi2007

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Hope it will be not in the future. I really hate the idea of 'tracking' for whatever i do. This cashless world can doom us all. I treat bitcoin like i trade cash in fiat money. No freedom is gain if there is 3rd party involved in our daily routine.

zimmah

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Quote from: Amph on March 21, 2016, 10:47:10 AM

a cashless world can only work with a decentaralized system, not a centralized autorithy like bank and governmetns, so bitcoin is the correct answer for this

therefore only if somethign like bitcoin will be very big, you can get rid of cash completely

exactly, bitcoin is decentralized so it doesn't have the problems of a cashless system

Maslate

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I do not fear the cashless world because its more convenient to use digital money as its safe and secured. The crimes for robbery will be minimize and people becomes more aware and educated on the internet world, plus the transaction are very fast.

ObscureBean

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Well for one, a cashless world would mean the end of true anonymity. Bitcoin is great but it doesn't beat hard cash in that respect. With everything online it'll be impossible to do anything without leaving a trace and the average user will never even know that he/she is being monitored.

Sithara007

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A lot of people do not own bank accounts or android phones. So it is not possible to completely eliminate physical cash.

pitham1

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Quote from: socks435 on May 26, 2016, 01:23:13 PM

Im not afraid about cashless in our world because i know its impossible to happen in the future.
Dont worry. it will not happen we will still use fiat in the future..

There is a difference between fiat and cash.
The OP is talking about a scenario in which all transactions are done through banks and not cash.

Topic: Why we should fear a cashless world - page 29. (Read 9801 times)