Why we should fear a cashless world

[WiseOldSage]

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.

[Sweetbtc]

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.

[krishna1]

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

[bryant.coleman]

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?

[asriloni]

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

[MTBTT]

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 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.

of course the government will not be able to do it. bitcoin very anonymous. and not even the identity of every bitcoin address. so I think you should not be afraid to make transactions in bitcoin

[entrepmind23]

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.

[virusasog]

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?

Hey bro in future There is possibility to adopt digital currencies around the world So then there is possibility for cashless and overall and Google initializing the loons project give the free Internet with their search engine to all the major cities around the world.

[Sweetbtc]

Did you know that banks provide online banking for a reason, and there is privacy that the government isn’t involved in the matter

[mixan]

A cashless society should not be feared but nurtured.
I thought about how it would be if everybody carried cards instead of cash since 25 years ago.
It can now be possible with bitcoin.
So I was waiting for that day when we all are using a card but now it can be accomplished with our good way of using BTC instead.

[bitkilo]

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.

True your smartphones would make a great tracking tool for the government agencies and they do use them as Snowden has shown us but if you still do all your transaction via hand to hand cash then they can't track your finances as much as they would like to.

I'm happy to have a cashless society as long as i get to choose what method i want to use to transact my money, i don't want it if all transactions have to go through one of the big banks, or even a small one for that matter.

[bitlancr]

If everything is going to be digital then black money is going to disappear and I am sure that there are some people that will not be happy about that.
With everything digital the government is going to have to much control if you ask me.

[mrayazgul]

It just the same as your bitcoin wallet, no one sees what you’re buying or selling, only your wallet provider but even they don’t even bother unless some transactions issues or other matters.

[Sanekavg13]

People who live in poor countries do not trust the cashless payment system. They reliably handle paper money. People once to think about where to invest money, they think what they feed their family. The rich get richer and the poor get poorer.

[bitkilo]

People who live in poor countries do not trust the cashless payment system. They reliably handle paper money. People once to think about where to invest money, they think what they feed their family. The rich get richer and the poor get poorer.

I don't even trust the cashless payment systems our bank are currently using, when they get hacked multiple millions are always lost and that just adds to more fees so the bank can keep their profit margins.

But to be poor and relying on what little cash you have to feed your family each night, i wouldn't let it out of my sight.
Only problem with the cash system in a lot of these countries is that there can be just so much corruption that inflation gets out of control and then all of a sudden what feed your family last week wont even feed just you this week.

[AicecreaME]

Because I think it's more safe when we're speding our money personally than doing it on the internet. So, basically it's not possible to have a cashless world like you're saying cause we must not only rely on the virtual money and so on since it's not that kind of stable right now.

[Maslate]

We should not feat the cashless world because it is the safest world to live when we go full cashless, on that matter I would love to see bitcoin is being recognize and being all globally.

[Denker]

We should not feat the cashless world because it is the safest world to live when we go full cashless, on that matter I would love to see bitcoin is being recognize and being all globally.

That depends!
A cashless world with digital money issued by the banks and government only, we are srewed!
This would be an orwellian nightmare.
I guess this is something nobody of us wants to become reality.
Decentralized crypto currencies, such as Bitcoin and the fiat currencies will exist side by side for a very long time imo before fiat money will vanish.This is a process of several decades and won't happen over night.
The main reason for this is that the incumbents will never ever give up control over the money and it's supply without fighting!

[xdrpx]

I really agree with the fact that surveillance will increase within a cashless society. It'll pave way for Governments and Bankers to monitor transactions since everything will have to go through their radar. A cashless world with Bitcoin though would not be the same case, the is if people take the necessary steps to not relate themselves with the transactions that they make.

[Slark]

I would love to see cashless world. But I fear that what governments, politicians and economists are cooking or us won't be that great.

First we need to understand that it most likely will be digital version of current FIAT - cyber USD, cyber EURO etc.

Therefore every transaction will be monitored, audited, stored in database. Privacy and anonymity will be gone.

Authorities - or whoever will get access to that info - as I imagine hackers will exploit this as well.

Will learn about your everything: where you eat, what you buy, what you drink - a total invigilation will be possible.

It will be like PRISM 2.0