Why we should fear a cashless world

[nodelover]

That is why Bitcoin comes in, The decentralized approach gives as more freedom to trade to anyone.

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[ocid]

Cash used as a medium of exchange in the world to buy their goods or daily necessities in order to buy food, people without cash they will be afraid to go back in the past when doing all transactions must use the tool of the exchange system of goods,it certainly can be very makes it difficult for everyone.

[jonatuzc]

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

Exactly we're  like being a robot if this happen. It have a bad effect on every people around the world because we are like a puppet of the law. Also poor people will be affected because some of them are not aware on it. Still not all people around the know what bitcoin and other cryptocurrency is.

Your exactly right, their are some people out there not yet know how to used like bitcoins, so we must aware of it. Many people will affected mostly to the poor and not been civilize people around the word.

These people are in majority in third world countries and they are definitely at least going to take half century in going cashless. But the developed countries that have already made bitcoin legal and their public is happy with using bitcoin can go cashless.

They are already using plastic money and replacing it with digital ones won’t be a problem at all. Cash is tough to handle and print. It won’t survive much now.

With the advanced in technology, things are changing quite rapidly. We are living in a modern world where things are very much dependent on internet now. With the introduction of this concept of crypto currency, there are very much chances that we may not be able to see paper money in the future. But this will be only possible if the government declares it to be legal.

[aesma]

China is going cashless faster than Western countries. More and more transactions are made with a smartphone in China, and it goes well. Of course we're talking about a dictatorship, but there is no penalty for using cash, it's just that people find cashless easier.

Denmark has announced it will be cashless in 2030.

[Saksham]

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

That is true, but in the same time there will be no need for printing money, you won't have to pay all kind of fees for cash deposits and so on.

[@prashant]

I dont think there is any need of being feared from cashless society.earlier there was huge scam and corruption.middle family have to suffer from it and majority of trader get huge income profit as there was no record of their selling profit.after the society is digitalised records will be there and one thing is simple ,if you are not holding black money then there is no need be feared.

[charmaine08]

Many poor people will suffer about that. And I think I'm not the one who supporting a cashless world .

[oralnuts]

Nobody can deny the fact that bitcoin is quite powerful as a means of currency,  but many factors can cause fear for the cashless world as many are not fully aware of how it works and often the disadvantages are highlighted.

[scryer108]

I was told in a cashless society we would earn some kind of shared income per month as a community pay or something like that I think AI is somehow involved once there will be no more use for people when robots take our jobs? I forget the exact explanations but it was an interesting theory.

[goaldigger]

A cashless world is like what we have seen on futuristic movies. More and more transcations rely on the internet and in cash taht even poor people has card. I think if that happens, even poor people are be given a card to use. There are more aspects to consider before that happen and i think its a 100 year process and hopefuly there would be no poor people in this world.

[_Dawid_]

Hmm cashless world is crypto? It was kinda suggestion or what? If we are talking about debet cards etc. i think is it huge possibility not ony the payment version but also something new. For sure if yu ccan pay for your shoping with card without your password then if someone else will steal your  card he could be able to make anythingl. So stay tuned and watch out.

[Barbarian]

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

But that is only true if we live in a cashless world dominated by fiat currency but now thanks to bitcoin you can avoid that level of surveillance, so that world is never going to materialize the same way a world where the elites had a monopoly on information did not materialize thanks to the printing press at first and then thanks to the Internet.

[randal9]

I think we should not be afraid of the non-cash world, because it's impossible right now...a lot of countries are not adapted to this, and as mentioned above - small businesses are also unable to support it...and this is a large part of the population...so it doesn't threaten us

[YinShuiSiYuan]

Cause it won't be anything to make value of something for me world without it won't survive for more than half year.

[ross09]

I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.

Forcing consumers to go cashless comes with concerns. Those hurt the most could be the poor and small businesses who today rely deeply on cash. Some believe that a contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance.

[Dontme]

I think those only who are not capable to use bitcoin or any digital coin are going to be afraid in the Cashless Society. Because if we already entire the Cashless Society it is more easy for us to use it.

[thr3]

Arent credit cards, debit cards, apple pay, paypal, alipay, wechat pay, etc..... cashless?
I believe we are all already semi-cashless society, as most of the cash-based economies are usually third world countries.

[tyronecoinbit]

I think those only who are not capable to use bitcoin or any digital coin are going to be afraid in the Cashless Society. Because if we already entire the Cashless Society it is more easy for us to use it.

You have point, but if we are living in a cashless world, because it will become a centralized and it would be easy for the government to manipulate the currency we are using for and there will be a panic that is going to happen considering government are corrupt, we don't want to be controlled by them as we want freedom to spend our bitcoin funds.

[Razick]

Are you saying we should be in fear now? Why should we be in fear? We are almost in a cashless world as it stands right now. I think the figure is that only 30% of all the money currently held today is in cash whereas it used to be 100% before the invention of digital transactions. Which means every day less and less cash is out there to be used by people and transactions are becoming more and more digital.

[Sleepy18]

I believe theres a lot of ways online system of payment or cashless system of monetary policy is very fearful and dangerous because:

1. Altcoins or crypto currency can be used to transact illegally. This can be used by many bad guys all over the world and the can continue to do they bad doings without worrying any financial transaction because its digital.

2. We all know that in this cryptoworld we never know when these digital money can be available. Yes we never know how long would these digital currency last.

3. These can be used as easy go out scams. Because most of the investing site/mining site vanishes in a blink of an eye without any trace because its digital and its level of security is very high! And a lot more stories will come. Thats why having a cashless system of payment is very fearful.