Why we should fear a cashless world

[audaciousbeing]

No amount of fear can change what is already with us because we have even mortgaged our life to those who we elect to make the decisions for us and its so bad that its either one blend in, or be left behind that its so bad that even the bank will deny you your money and force you to go cashless because that's what the policy makers have mandated them to do. I guess the way out if this is just to create alternative means even if its little to be sustainable.

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[zulkarnaen]

I think it is highly unlikely the world without money, because money becomes one of the means of transactions for official pay and has a role in economic revolution in life. Although today bitcoin exists as a digital currency that certainly has a function equivalent to money, but still needed money to run this life cycle.

[JaRViZZ]

We need to be more afraid of the laws in the country, not the payment system. Any form of payment in my opinion has its pros and cons, but many laws do not allow people to live in full.

[megynacuna]

We need to be more afraid of the laws in the country, not the payment system. Any form of payment in my opinion has its pros and cons, but many laws do not allow people to live in full.

But then you agree with me that money is life and a lot of the population in this world live off their lives in their financial incomes and so if such a critical part of human existence is being controlled by the powers that be and your financial freedoms are encroached then you're better off not living and it is difficult than any law from a wicked leader.

[anschluss]

What would stop them from just regulating or banning bitcoin?

"You will need a government approved(TM) wallet to transact with us."

[Carlsen]

I think it's not only the governments that want to track you with cashless money.
I'm sure, the industry would like to do that too!
Of course there is the banking secrecy. But many of the people who work in banks do not really care about that. Especially not if they are paid for information.
Imagine the companies, maybe even your neighbours know all about your finances with one click in the internet.
I would not want that.

[DrGuns4Hands]

cashless world will never happen because the government wont allow this because if there's no fiat system they can't get tax on us because if our money will be crypto currency they wont be able to get money from us. that's the reason they wont never gonna do this thing. more or less they will ilegalize crypto currency in the future if they see that its growing so fast.

[jovs]

Cashless world as mentioned in the document, it will ruin the poor and the growth of small scale traders. On the whole the technology will make changes but it should be developed in a equal manner to reach all.

Yes i agree, cashless world may brought bad thing to the people who are on the low society. It may hinder the development of both the small scale traders and investors. In addition it can also affect the further changes on bitcoin becuase it has the same purpose or characteristic that bitcoin also have so many can see cashless as much better way on transaction for the reason that is has the same way system that bitcoin also do have.

[soros017]

A world without cash is a communist utopia. It is not possible to have an efficient economy without people being free to exchange whatever they want, using whatever exchange method they want.

[joebrook]

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

As a Christian,i believe that a cashless society will be the work of the Anti-Christ, he is going to determine who is going to be able to buy and sell in his era and he is going to be able to implement it if there is no cash in the system.

[btccashacc]

i'm thinking about that we could live in this world without the cash, yeah i believe that we can and no need to fear about that , as we can see people nowdays prefer to pay something with the cards rather than using the cash. However we need both of them cash and digital, not all of the parts of this world connected to the internet or embraced the technology. The point is there are pros and cons if we live in cashless world, but i can see there are more pros than cons.

[batang_bitcoin]

Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

[Kevin77]

Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

I believe you are not talking with respect to bitcoin based cashless society. Because with bitcoin no one will be able to trace down where the funds are coming and where they are being moved. A cashless society will support many benefits but I do not think it will support the government to stay powerful.

[batang_bitcoin]

Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

I believe you are not talking with respect to bitcoin based cashless society. Because with bitcoin no one will be able to trace down where the funds are coming and where they are being moved. A cashless society will support many benefits but I do not think it will support the government to stay powerful.

Yes I'm not talking about bitcoin based cashless society. But for sure the government will implement their very own cashless society and that will be in the form of RFID microchips. And as I know that is already implemented in some parts of USA and on a company in Switzerland/Sweden. Bitcoin will not be supported by the government as the main cashless currency.

[raven7886]

Because it is dangerous for us and we all know that nothing is safe in the internet so if we will just depend on the digital age then we will have risk in managing our money and also the security of our money is not that safe because there is a lot of professional hackers that can bypass and steal money from the innocent user of digital money so it is just right to be afraid in a cashless world.

The bitcoin and the crypto currency is a very good new technological financial system and like anything other it has its pros and cons.

As everyone around knows that the technology related stuff can be hacked anytime this is such a threat which we cannot say that can be removed therefore the fear is reasonable in this case if god forbid someone’s wallet is hacked then what will happen ?
Also the internet can be down due to many reasons anytime so it will be safe to keep some cash with us, so that we fulfil our needs.

[zedicus]

We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

[emezh10]

We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

Besides bitcoin can be hack because the technology and everything is in the internet is not safe so I think real money is needed to the economy became balance because the bitcoin itself is just a secondary currency and I think it should be a secondary only because the paper money is needed in the real world.

[Casabrandy]

We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

Besides bitcoin can be hack because the technology and everything is in the internet is not safe so I think real money is needed to the economy became balance because the bitcoin itself is just a secondary currency and I think it should be a secondary only because the paper money is needed in the real world.

Anything related in technology transactions were hard to trust too much there are lots of situation that it might not work well so its still good to have alternative options that not requires technology.

[freedomno1]

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

A cashless world can be dangerous if all coins are easily traced back to a person and their whole life and financial history is revealed, that already exists with banking relationships as they know the clients data and can easily access it.
The real question is how easy is it for someone to get that data and that is what is most dangerous about a cashless society where a single malicious actor can make a gigantic wave if the whole marketplace is in a sense leveraged onto digital cash only.
Without good security or cryptography to mitigate some risks.

[xuan87]

I am not fond of the country without cash, it's like bringing all of your wealth in a piece of chip, and all of your transaction can be traced so you won't have any privacy in transaction and the most fearful thing is we rely too much on technology and internet, if there is something wrong with that then we won't be able to do any transaction at all, so it is still a good idea to have option to carry cash or digital money