Why we should fear a cashless world

[ballerin and giroud]

What to fear from bitcoin? When this technology came to be the solution to the world economy. Instead, we should support bitcoin to continue to develop its technology so that more and more parties are adopting this technology and making sure people use bitcoin either as a payment method or a digital asset investment.

[romeo23]

There are advantages and disadvantages of having a cashless world...The good thing is that there will be less tax evasion given that most tax evasion occurs with cash. That is the main reason why Modi tried to move to less cash society in India. The additional tax revenue will help the economy and fund other government programs that will hopefully help society. Plus, it makes the world more equitable as everyone pays taxes.The bad thing is that there will be less privacy. Now someone may know what you like to buy and when do you buy it. So there will be limited privacy in your consumption.However, let us remember that we have cryptocurrencies that will keep things private. And also, there will always be some sort of cash because electronic systems will fail time to time. So always good to have cold hard cash...

[torch2121]

This will affect the poor people and small businesses relying on cash.
As we live in a world that distribution of wealth is concerned.
My worry is that a cashless society may exacerbate inequality.
It is better if people are making this choice freely.

[noah tall]

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

Lol of course it’s true you’re supposed to fear a cashless world. Cash is very important no matter how far we go with technology, and know this – there will always be poor people, beggars on the streets and illiterates no matter what you do about it. Well, apart from them there are lots of reasons why we need cash no matter what. All I know is cash is very important and you can’t stop the use of cash cause people who are in their right senses won’t support such an idea. That’s the truth.

[DonateBB]

I would like to have a world without cash, so everyone will use BTC. And all the activities we will pay through BTC, no bribe, inflation. Those things will be greatly reduced if we use BTC.

[hastang]

5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.

This is the worst point of the system. At this point laws can manipulate any person on the planet to do anything.

cash less transaction is imposible to achieve. it requires technology ang internet connection.. do you think a 5 year old child that want to buy candy have to go to his phone or computer to make a purchase? would it be hassle to a person to buy his basic needs that requires small payment to log in his credential to his net just to make a purchase? i think its just quite imposible for now to fully implement a cashless transaction in our commuity.

[ranman09]

Before, this can't be done because of the foreseen problem with centralization. Because banks will hold and it will cause everything to rely on one entity.

Now, we have Bitcoin a decentralized network but still why it can't be used? Because of bitcoin's scaling problem and bitcoin's user unfriendliness.

So I think, you will not need to fear the "cashless world" because it will never happen. Because people will still find ways to transact easily and with ease.

[Hareehs]

Well for me,  not exactly to the point that I should fear if the world is going to be a cashless economy or society.  Cause we all know that being a cashless economy has a disadvantages and advantages as well.

And speaking of the disadvantage of the cashless economy, one of this is that not everybody has the knowledge of doing digital transactions and hence its reach is limited to urban  and semi-urban centers only and therefore it is very difficult to implement cashless economy in the big country where many sections of the society in rural areas is illiterate and poor. Hence the lack of proper infrastructure and education among citizens is disadvantageous as far as the cashless economy is concerned.

But the advantage of cashless economy foremost is that an individual does not need to carry cash with him or her everywhere which in turn reduces the chances of theft from wallet, reduces inconvenience due to carrying cash, give freedom from problem of change when transaction is of odd amount, no risk of receiving counterfeit currency and so on.

That's are some of advantages and disadvantages of the cashless economy.  So I guess, any government thinking of adopting cashless economy model should carefully analyze the merits and demerits and then take the decision as the cashless economy cannot be imposed on the people rather it can be gradually adopted by the people of the country.

[Lagrood]

Cashless world is impossible in the near future because neither people nor system are ready for such changes. As for me I am not ready to refuse cash. People must have a choice between cash and cashless payments and savings and it is reasonable.

[rafaelyarulin]

Because the world of non-cash payments can be traced. Do people want the government (not always favorable), banks or operators of payment systems to have access to this information? When in their hands there will be huge power and frightening potential possibilities of totalitarian control of finances. In contrast, cash provides many opportunities. They allow you to buy and sell, as well as to accumulate wealth without being dependent on anyone. And they can remain outside the financial system if they wish.

[reverseflash]

Any totalitarian society - it is bad for personal freedom. Full transition to non-cash payment - a big step by totalitarianism. Though there is always a hope for the best.

[PrincessChe]

Fluid money used as a means of exchanging in the world for purchase of the goods or necessities for purchase of products, people without cash which they will be afraid to come back in the past when all transactions have to use the tool of exchange system of goods it, certainly, it can be very difficult for all.

[klasik1980]

What people value in money is the ability to spend it as they wish. A cashless economy removes this freedom. This will drive people to seek other means of trade. Expect barter, silver, gold, bit-coin, soup cans, laundry detergent bottles, whatever.

[Nissan-GTR]

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

Well I am very afraid that someday,  less fortunate people will be isolated to the society in which the acceptable norm will be the person who could step up and live like the other usual people. I fear that my next generation will never be count as a people to my own native land if they will not be able to access this kind of platform to ensure their life will be supported, I fear that there will be an extreme poverty and discrimination if that happened.

[PIR]

Slowly our world is adapting this kind of system for many reason, cashless world means digital world is now at work it could be fearful somehow because everything's depends on machine and you no longer have to carry cash within you for any transaction or payment to make, but what about the poor one? how are they going to pay their bills and buy something in the market when they have so little amount of money? I guess they will have solution to these.

[Tapyaks72]

Slowly our world is adapting this kind of system for many reason, cashless world means digital world is now at work it could be fearful somehow because everything's depends on machine and you no longer have to carry cash within you for any transaction or payment to make, but what about the poor one? how are they going to pay their bills and buy something in the market when they have so little amount of money? I guess they will have solution to these.

In our  time  these will never happened in our time because our  government infrastructure is not yet ready but  for  the next generation this is possible because most of the peoples are already oriented with internet and digital world.

[pallang]

It's impossible to have a cashless society poor people will be the first to be affected because of their way of life no internet access and maybe they don't even know how to use cryptocurrency how about paying bills and buying small quantity of items it's hard to do transactions with bitcoin so i think this will not happen can't imagine the scenario.

[basyang]

It's impossible to have a cashless society poor people will be the first to be affected because of their way of life no internet access and maybe they don't even know how to use cryptocurrency how about paying bills and buying small quantity of items it's hard to do transactions with bitcoin so i think this will not happen can't imagine the scenario.

I am not against to cashless society just like other country but in innovation in the technology let's also consider the other people point of view about it and people's abilities in using the cryptocurrency. We also think the old people's and remote areas that the signal of internet is not so good. In planning something like this we should always think other people before we decide what to do.

[Lubang Bawah]

Cashless world is the beginning of the unrest, if many countries do not immediately overcome this of course they will rebel, the state justice is needed to reduce the economic gap so there is no cashless world in this world.

[Happydd]

Think about a world without cash, what will happen. In Vietnam this is very bad. How will small daily trading activities take place? Can not buy a plate of rice, water that pays by bitcoin. Things will turn upside down if there is no cash.