Why we should fear a cashless world

[Bitcoinjheta]

A cashless world is a threat to all small business entrepreneurs like stores, and even poor people with no idea about the crypto world. It also a threat to all banks in the whole wolrd. But this cashless world can help also in terms of crime prevention in the government like theft, robbery and bank hold ups and etc.

Not only a threat for them but it is also give them difficulties to adapt this new technology because of having a limited resources. That's why bitcoin wouldn't be consider as global currency in replacement of USD for the fact that it won't be applicable to all level of society.  
But, still there is a possibility that bitcoin would be a major used of the people in and out transaction in the future if this technology will still exist and still have a good market value.

In this generation, middle class and elite people are already practicing cashless transactions since mostly they are using creditcards and any other form of electronic payments. However, cashless transaction to all level of society is quite impossible since poor people don't have knowledge about electronic payment  as well as about cryptocurrency.

[shesheboy]

A cashless world is a threat to all small business entrepreneurs like stores, and even poor people with no idea about the crypto world. It also a threat to all banks in the whole wolrd. But this cashless world can help also in terms of crime prevention in the government like theft, robbery and bank hold ups and etc.

yeah right,  that is why its really impossible for our world to be a cashless society, sure some companies will always embrace bitcoin mostly online and some of the elite and major ones because they believe bitcoin can add inovation to them just by making transactions to a new level and with help of blockchain technology but fiats and local currencies wont still be vanished or dissapear because as you said earlier many people especially poorer ones will be on trouble. also being cashless doesnt guarantee that crimes will be lessen or prevented because it can still happen expecially on an online environment were hackers, viruses, malwares are the new threat.

[Btc_1856]

Technology have its own pros and cons....history also proved that every inventions till now like T.V. refrigirator etc made human lazy and less social and also lost pease of mind

Cashless will even make people to become more lazy because where ever they go to any retial shop they can use their debit and credit card but the thing government are pushing people to go cashless because they want to make more money on these debit and credit transaction.

[congresowoman]

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.

A cashless world means a wprld full of hackers. With the florishing cyber world comes also the florishing cyber crimes particularly hacking. Cashless world would mean more people will transact with anonymitu which is a bad thing in trading,

[swordling143]

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

I think the things to fear in a cashless world is the work load that there is in order for a successful and effective implementation of online currencies and removal of the physical money. Also, the fact that it is all integrated with computer makes me worried that some day there might be a really good hacker that could infiltrate the system.

[ApocalypseNow]

Technology have its own pros and cons....history also proved that every inventions till now like T.V. refrigirator etc made human lazy and less social and also lost pease of mind

I remember when there a lot of issues tackling the harmful effects of internet but look at where we are now. Nobody really cares about negative effect when it comes to innovation because it's part of the evolution and progress.

[cherryganda]

Technology have its own pros and cons....history also proved that every inventions till now like T.V. refrigirator etc made human lazy and less social and also lost pease of mind

Cashless will even make people to become more lazy because where ever they go to any retial shop they can use their debit and credit card but the thing government are pushing people to go cashless because they want to make more money on these debit and credit transaction.

The cashless community is a never to be done! people around the world, some of them are now bringing money anymore and just cards with them, but to be a cashless all over the world is insane, as long as those cards or cryptocurrency are internets depended it will be meaningless to promote. the internet is not stable and we cant be assured that there will be internet 24/7 with no problem even just a second.

[arief89]

Because the world without money will be troublesome, because not everyone in this world can use digital money, so if money is lost then the poor will become more miserable ...

[Semaj123]

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

I think the things to fear in a cashless world is the work load that there is in order for a successful and effective implementation of online currencies and removal of the physical money. Also, the fact that it is all integrated with computer makes me worried that some day there might be a really good hacker that could infiltrate the system.

You are right about a hacker may hack the account of any person who is unlucky to be chosen. Cashless world has a very big risk and this could lead to a war. Only hackers can benefit with this kind of world if in any case this happen.Still, I'm in favor of the traditional way of using money.

[mOgliE]

Hi,

A cashless wolrd should not be feared in fact. Small businesses and "poor" people are used to using cash because it costs less than gettng a debit/credit card emitted by a bank.But for the bank, such emission costs nothing. They want us to believe so that they can charge our account with complete crazy fees.  Maintaining an onlne system is costly if you consider the overall bill. If you divide it into all users, then it is nothing.

Then about surveillance. We are quite lucky in fact because bitcoin holds it own auto-vigilant system. You cannot lie with bitcoin. Well you can ut not about your transactions. Many cities are setting up system of video surveillance but you know what? It is useless. It changes nothing in terms of infractions.

So we should stop thinking we need some kind of "authority" to vigilate our actions. We can do it by ourselves, we can get rid of banks!

[dx_twisted]

We've been living for a long time using physical money. I doubt that it will ever happen. Even though we are on the verge of digital age, there are countries or group of people that can't cope or catch up with the current technology. A demograph of people around 30 to 50 years old, misunderstood the concept of cryptocurrencies. Most things will never really change, we are already use to it.

However, living in a cashless society shouldn't be feared. There will be PROs and CONs for sure, but we should always look on the bright side. After all, we all want to live in a more convenient and less hassle society.

[taiwww]

People are not feared of cashless world, they are worried. Because in many countries infrastructure needed for cashless economy is not yet reached. These countries cant afford to adopt and implement it. If world become cashless how will these countries survive. Fiat currency is backbone of many countries. People using digital currencies are still fond of fiat currencies. Cash is the easiest mode of exchange in any part of the world. Without proper implementation cashless economies will ruin the poor people.

[carlisle1]

Even if "they" introduce cashless society as a standard mode for world to operate,
people will find another means to trade.
There are always thing like valuable metals, ore or jewels.
Barter trading will get reborn again. Im more then sure that when its needed some
new unknown ways for easy trade will be invented.
  

exactly people wont stay in single side waiting while they can make
another alternatives on making income..for sure lots of idea and skills will
brought out just to adapt in new system as cashless world,so dont bother
about that cashless society that would not be applicable here.

[Thanasis]

There is no need to fear of cashless economy only the black money holders will be afraid of cashless world,actually cashless economy will help the country to save from illegal activities like black money holders who saves their income without paying any taxes to the government.If we convert to cashless economy then all our transactions will be recorded so everyone need to pay their taxes.

[Minnie1928]

The government would never allow society that would exist in the cashless world. If this case should come to reality we would all be controlled and every evidence of our payments would be recorded. Criminality would be reduced and people would adapt to a new system. Paper money will always be printed cause it is centralized and the casheless world will never come into existence cause powerful people will not allow it.

[ashfer]

Now a days government is trying to bring in a cashless world for the society as they want to monitor each and every transactions that is taking place.Yes i agree with your statement that it is going to affect the people living in the low class society and small business as they will be more comfortable with real life cash and cashless society will be causing them a huge loss as we all know if we deposit money in the bank the bank will normally take banking charges for each and every reason they will charge us for making transactions as well as for availing various banking features like the electronic card and we will even get a penalty if we don't maintain sufficient funds and its gonna be a threat for the poor people .Where as in the case of btc investment it is never going to be threat for anyone as it is not going to charge any penalty or service charges like the banks.

[Hazaki]

We really can't fear a cashless society because we are already going toward that whether we like it or not ! Because now technically every shop (even small ones ) , every market, every grocery store and just every place you need to pay something to get from are equipped with credit card payment methods which means you don't even have to carry cash on you any more !

Further more a cashless society is a safer society because you won't be running the threat of carrying cash around you and getting robbed , harmed or stolen from which can cause you both physical and moral damage over a few bucks whereas if you are just carrying a credit card no one will get the opportunity to steal what is yours .

Plus if everything goes digital , every transaction will be saved and will be clear which will help in fighting corruption which is highly difficult because tracing back cash is sometimes impossible .

[Fatunad]

Technology have its own pros and cons....history also proved that every inventions till now like T.V. refrigirator etc made human lazy and less social and also lost pease of mind

Cashless will even make people to become more lazy because where ever they go to any retial shop they can use their debit and credit card but the thing government are pushing people to go cashless because they want to make more money on these debit and credit transaction.

This is one of the effects on where we do have totally converted to cashless transactions which people do become lazy but well this is one of the most sole purpose on creating cashless transactions which we would really have the convenience on buying things but when in regards on surveillance which have being mentioned on OP i would say it is all tracked because we are using a centralized thing which government can really anytime see on what we do spend and our behavior when it comes to our transactions which is really normal thing.

[CherRic]

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

Cashless world will really affect those small businesses because they cant afford to buy those machines for credit cards or debit cards. It will be a great loss to their business because people will prefer the big business who can offer cashless transactions. Also, it would be more prone to hacking and other skimming system if cashless system would be implemented.

[innocent93]

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

Regarding surveillance i think after all it is a good think, if we consider all the crazy people out there gaining more and more power. Yes, it is not a democratic think but in our days it is necessary. Regarding the cashless fears there is only hackers and energy crisis.