Is cash outdated?

[commandrix]

As usual, they get some things right and other things wrong and I think they stole a few ideas from Bitcoin. But instead of treating cash like a scapegoat, what they should be doing is switching to a more genuine "digital cash" system. You know, like a cryptocurrency or something. http://www.theguardian.com/world/2015/feb/26/ecuador-digital-currency-dollar-rafael-correa

[The Sceptical Chymist]

When money no longer has to be something physical then I'd say physical money is at least on its way to becoming outdated.  It definitely isn't yet and it's still the most anonymous form of money there is.  I think. 

I have to say though, I miss coins made of silver.  But we're never going back to that.

[Duomo]

I honestly don't purchase anything really in cash anymore. Do I have physical fiat on my person? Yes I do, but to say the amount of times I actually use physical money is non-existent. If bitcoin processors were regularly available just as debit and credit card processors, the adoption of payment of bitcoin would be exponentially greater. Even though bitcoin is new, it will take a quite a while before it is main-stream. I would not consider it main-stream yet. A majority of technical and hardware people involved with cryptography got involved with bitcoin first. Second, finance corporations and large institutions are seeing bitcoin as a great opportunity in investment. It will be a long time before the average consumer will be willing to spend bitcoin to replace cash.

[Bitware]

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

[Kakmakr]

They opted for their own digital currency, because they want full centralized control. Like they said in the article, " everything from the creation of new units to securing the system against attack will be managed by the Central Bank of Ecuador. " You cannot manipulate Bitcoin, and you cannot generate digital money from nothing at will, like they will be doing with that worthless currency.

Bitcoin has no Central Bank, dictating their cash flow and what the price must be. 

[Yakamoto]

Personally, I always think that cash is better than digital fiat, but that is just me. Each has their place in the economic system, and one isn't better than the other in some major way. Digital is good for holding or moving large quantities of wealth over a short period of time with minimal effort being put in, cash is great for holding physical wealth, and not having to worry if the power ever goes out.

[jaceefrost]

By cash are you referring to fiat? Well Ithink no. It can newr be outdated. Unless the whole world will prefer to use digital money from now on then that is then the only time that we can say that fiat is already outdated

[c789]

Some governments are moving to ban cash:

http://www.forbes.com/sites/markhendrickson/2015/05/28/farewell-to-cash/#7531c7e47927

http://www.breitbart.com/big-government/2016/02/23/governments-of-the-world-are-coming-for-your-cash/

This is an obscene level of control that shouldn't be tolerated by any citizen. If there is no cash and all transactions are on a public register (like BTC, which I like btw), then there is no privacy. I'm ok with a cashless society only as long as a private system of cash is also available (like Monero). It shouldn't be anyone's business if I give $5 to a church, a hooker, or McDonalds.

[romero121]

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

Exactly cash is the king. Only when entire world gets digitalized we can agree with your statement cash got outdated.

[TastyChillySauce00]

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

some people are now do prefer using credit cards or debit card rather than cash because it's flexibility and simple,i'd say credit card or debit card have limit and balance which is digital,so,cash will not longlast

[pooya87]

cash is not outdated at all, what you are saying is for the far future (maybe?) but it is definitely not for now.

besides the transition from the old ways (using cash for day to day usages) to a new technology (for example using bitcoin for all that) needs a long time, no transition happens overnight.

[dollarneed]

Cash is not outdated. In fact, cash is still king. I always ask for a cash discount price.

cash will not become outdated, unless the entire world must be digitalized or goverment or economic and financial organization provide some program that gives everbody a bank account with smartphone, and some app to scan virtual things like credit ,debit cards or other things like that and must be spread evenly over the entire sector then i think cash will be outdated. and most suprissed people would be choose bitcoin

[SFR10]

I strongly think cash is outdated (at least for some times already). 80 to 90% of my expenses are done in a way other than cash and only small percentage does involve using physical cash mainly due to store being outdated itself and not have debit card swipe machines (at least). Many other countries will follow Sweden (cashless country since few months ago).

[Dekker3D]

It depends on what country you are in. Third world countries still rely mostly in Fiat while some like Sweden are becoming cashless based.

[Patatas]

I strongly think cash is outdated (at least for some times already). 80 to 90% of my expenses are done in a way other than cash and only small percentage does involve using physical cash mainly due to store being outdated itself and not have debit card swipe machines (at least). Many other countries will follow Sweden (cashless country since few months ago).

Maybe outdated for you but that merely contributes to the rest of of the world .Most of my expenses are dependent on cash,for example I can't pay my internet bills in bitcoin yet.I can't buy groceries with bitcoin too.Fact is cash will still remain the primary currency until we reach to a point where 80% of the world's population agrees and starts using cryptos for their daily expenditures.

[NorrisK]

Some governments are moving to ban cash:

http://www.forbes.com/sites/markhendrickson/2015/05/28/farewell-to-cash/#7531c7e47927

http://www.breitbart.com/big-government/2016/02/23/governments-of-the-world-are-coming-for-your-cash/

This is an obscene level of control that shouldn't be tolerated by any citizen. If there is no cash and all transactions are on a public register (like BTC, which I like btw), then there is no privacy. I'm ok with a cashless society only as long as a private system of cash is also available (like Monero). It shouldn't be anyone's business if I give $5 to a church, a hooker, or McDonalds.

The good thing about bitcoin is that you can make a new address for every incoming transaction. This way, if you use them like you are supposed to, nobody will know which addresses are under control by which entity.

It will take some serious digging to figure it out in the end, and as long as you don't move all to the same address in an obvious transaction, you should be relatively fine.

Cash in the way we know is outdated and will slowly disappear, that is something you better start getting used to. Some physical trading will remain longer I guess.

[Jet Cash]

I think cash ( a physical evidence of a payment unit) will always be around. It's built into every society that exists, and some of the animal communities. I use a credit card quite a lot now, but that is because I get a cash-back bonus for every transaction. However I am aware that the reatailer pays this ultimately, so it contributes to the increase in prices. I do use cash for some purposes, and I would be prepared to buy Bitcoins for cash. By cash I mean folding money not the virtual fiat money in bank deposits.

There is an article about street beggars in yesterday's Daily Mail. It seems that there is a beggar in Wolverhampton who makes around £500 per day, and he carries a mobile card reader because he says "Rich people don't carry money".

[nanonymousx]

of course not, anyone thinks cash is outdated can sent his/her cash to me I will pay shipping.
Cash is still easier to use then bitcoin., right?

[MaxTax]

No that is not true. Many people need cash and that is very important for them. I think many people use some cash and they use it much.
Because also they dont know what Bitcoin is and that is the problem. I hope later that more people will use Bitcoin.

[Amph]

i dunno but besides foods, and phisical shop maybe, i'm not touching cash anymore, electronic is much more confortable to use

and you have not all those cent in your pocket which create unnecessary problems