Is cash outdated?

[markj113]

Governments and top bankers are desperate to outlaw cash.

The reasons are simple -

1) Every transaction you make can be checked and audited.

2) When the next financial crisis hits there will be no more bank runs as there will be no cash to withdraw.

3) When negative interest rates hit you wont be able to stash cash under the mattress, your money will be locked in to a bank account becoming less and less daily.

4) When a bank folds they hold all your wealth and you know who will end up paying for their failure  


A cashless society = 100% bankers/government financial control over you.  Not a "good" citizen, then they freeze your account leaving you penniless.


Anyone who supports scrapping cash and moving fully to digital currency is an idiot that doesn't fully understand the implications.

[1Referee]

I barely use cash anymore. I pay nearly 95% of all my purchases with my bank card. Some times when I go to the bazaar to buy things as fruit I must pay with cash as they don't have hardware to let customers pay electronically. I think the need for cash in a well developed country is low. If you look at Africa or other parts of the world where you find less developed countries, they have no other option than to use cash money.

[aakashsangwan]

Leaving apart from some country where bitcoin is accepted other country are still not accepting bitcoin and considered as illegal, and Cash cannot be outdated. cash is the source of any income, most of the countrys where bitcoin is not accepted they convert the bitcoin to fiat currency and use it.

[mobnepal]

No cash will not be outdated soon or coundn't be replaced completely with digital currency. There are lots of underdeveloped countries where citizens even don't know how to do transaction via bank.

[tn211]

No cash will not be outdated soon or coundn't be replaced completely with digital currency. There are lots of underdeveloped countries where citizens even don't know how to do transaction via bank.

No it's not,nor will it ever become obsolute. People are just usted to have used cash. Surely online payments gateways are nice and growing, but in the end
cash (something you can hold gives you security.

[calkob]

I think in the future you might be right, but i think that there are a lot of people who still dont have access to the web.  these people still need cash. 

[iamthesky]

I think in the future you might be right, but i think that there are a lot of people who still dont have access to the web.  these people still need cash. 

Yeah, cash will never get outdated and it will always be in demand, and it will get support from the people who doesn't believe in new technology and will keep on spending cash.