How a cashless society could kill Bitcoin.

[mindrust]

Bitcoin will be the least of our problems is cash ever gets removed. Ironically bitcoin itself promotes the cashless society btw but i'll leave it for now.
When the cash is no more, i would expect asset prices like gold/real estate/land to go to full moon.

Having your cash on bank is all good if you live in a country without an evil government but that's very rare. On the other hand, There will always be dumb people and clever people. People who trust their instincts (their first instinct actually) are most likely to survive this shit. That's called evolution.

Long story short, if you invested in gold, don't worry. Nobody can harm yer ass. Bitcoin? It is still 1's and 0's in the and. Can go all 0's one day. Full trust? No. FIAT? I aint trust no gov. Fck that.

Can cashless society kill bitcoin? Fuck yeah it can. But you won't be concerning about that when the time comes.

[1714920541]

1714920541

[deisik]

Well definitely a cashless society will totally kill bitcoin because we all knew that money is involved even not in a real time it would be much easier to attract or invite a single person to be part of any online transaction businesses and bitcoin is one of an online part time full time business transaction

I couldn't get a thing out of what you tried to say

How exactly a cashless society is going to "totally kill bitcoin", I'm curious? It seems to me that a real cashless society would actually promote Bitcoin use all over the place since all people will have to necessarily transact online, either directly via Internet or indirectly via payment cards. Either way, switching to Bitcoin will be a lot easier for people once they get used to cashless transactions

[Qartersa]

I do not think a cashless society could kill Bitcoin although it may cause an impact. It has been recently implemented in some countries that the use of cash shall be limited, and it goes without saying that sooner or later, cash will become obsolete in these jurisdictions. This move, of course, has its own benefits and drawbacks. Benefits such as faster transaction, safer, easily traceable, and etc. Drawbacks such as lack of anonymity especially for the un-banked communities, easier government regulation, to name a few. Regardless of the implementation of a cashless society by different government bodies, Bitcoins will still be a strong option because it exists without much regulation and that transactions using the same are guaranteed anonymous. People, especially those who belong in the substantially upper segment, would want to maintain their anonymity so as to protect their business interests. This is what draws the line between Bitcoins and the implementation of a cashless society.

[AngelSky]

I do not think a cashless society could kill Bitcoin although it may cause an impact. It has been recently implemented in some countries that the use of cash shall be limited, and it goes without saying that sooner or later, cash will become obsolete in these jurisdictions. This move, of course, has its own benefits and drawbacks. Benefits such as faster transaction, safer, easily traceable, and etc. Drawbacks such as lack of anonymity especially for the un-banked communities, easier government regulation, to name a few. Regardless of the implementation of a cashless society by different government bodies, Bitcoins will still be a strong option because it exists without much regulation and that transactions using the same are guaranteed anonymous. People, especially those who belong in the substantially upper segment, would want to maintain their anonymity so as to protect their business interests. This is what draws the line between Bitcoins and the implementation of a cashless society.

Actually, every cashless transaction has consumes huge fees behind the financial system. Please surfs about this in Google and the Government cheats consumer in large via the Digital transaction.
Bitcoin will not comparison also with this idiotic fiat financial system. Just consumes all the money from the citizens and loot the money from us via taxes and other things. Bitcoin will be rock in future for sure.

[PancherBitCoin]

I do not think a cashless society could kill Bitcoin although it may cause an impact. It has been recently implemented in some countries that the use of cash shall be limited, and it goes without saying that sooner or later, cash will become obsolete in these jurisdictions. This move, of course, has its own benefits and drawbacks. Benefits such as faster transaction, safer, easily traceable, and etc. Drawbacks such as lack of anonymity especially for the un-banked communities, easier government regulation, to name a few. Regardless of the implementation of a cashless society by different government bodies, Bitcoins will still be a strong option because it exists without much regulation and that transactions using the same are guaranteed anonymous. People, especially those who belong in the substantially upper segment, would want to maintain their anonymity so as to protect their business interests. This is what draws the line between Bitcoins and the implementation of a cashless society.

Actually, every cashless transaction has consumes huge fees behind the financial system. Please surfs about this in Google and the Government cheats consumer in large via the Digital transaction.
Bitcoin will not comparison also with this idiotic fiat financial system. Just consumes all the money from the citizens and loot the money from us via taxes and other things. Bitcoin will be rock in future for sure.

And will there be such an opportunity? How do you say? It seems to me that the banking system and the government have not missed it, so you still need to expect some kind of dirty trick if you decide to tackle the crypto currency.

[jeraldskie11]

Even there is a cashless society, it can't affect bitoin because what we buy on things and our daily needs in our daily life is what we buy for bitcoin. Bitcoin developers has many ways to solve that problem because they will study it.

[darthmaul]

Bitcoin itself is working as cashless currency currently. I am thinking government itself will try to implement it into real world as physical cash. Bitcoin is very interesting also as it is capturing mind of every business sector. If you try to checkout the ratio of society which uses or trust bitcoin then it is way lot as compared to other fiat money. There are less chances of happening this and government is big thinker it won't let bitcoin go down as it is popular in societies which government also wants closer to them.

[Hydrogen]

A cashless society might best be defined as a form of slavery which would kill every economic and financial freedom.

It wouldn't kill only bitcoin. It would kill scientific research, innovation, progress and advancement in many fields and industries while implementing a form of widespread stagnation.

[Fatanut]

A cashless society might best be defined as a form of slavery which would kill every economic and financial freedom.

It wouldn't kill only bitcoin. It would kill scientific research, innovation, progress and advancement in many fields and industries while implementing a form of widespread stagnation.

I think you got the wrong idea. A cashless society will simply not have cash but instead have a digital currency. We're starting to live a cashless society by using cards mostly and other digital currencies like bitcoins. It didn't kill anything.

But let's stay in your idea where cashless society = no currency society. Don't you think that that will actually solve the fiat slavery going on and make the world an even better place. Back then, when there's still no coins which were originally made by the Lydians, there were still no slaves. The human slavery only came to life when coins were made.

[Duzter]

In my personal view cashless society is something similar to a slavery as quoted by Op. The reason is that corporates handle all the transactions and levy taxes and other charges for it. This profits the corporate and not the user. If people doesn't get into card usage they might have not got such charges for using their own money.

[HasHe]

First of all,its very difficult to create a cashless society through out the world.India already tried that by demonitizing high value currencies and it failed to succeed.People just returned to cash transactions.Even if world becomes cashless one day,then we have to just convert our bitcoins into digital cash to buy any goods.

[KroFly]

Bitcoin is an independent currency and can only be killed by loss of interest from users. When people stop buying it, then it will die.

[ASHLIUSZ]

First of all,its very difficult to create a cashless society through out the world.India already tried that by demonitizing high value currencies and it failed to succeed.People just returned to cash transactions.Even if world becomes cashless one day,then we have to just convert our bitcoins into digital cash to buy any goods.

Yeah, creating a cashless society is simply a hard task. India made an experiment and it succeeded to some extent. The reason is that it makes the people suffer a lot, forcing them to use cashless transaction such as the cards, e-wallets and mobile​ payment application which were new to the majority of the population.

[Lancusters]

In my personal view cashless society is something similar to a slavery as quoted by Op. The reason is that corporates handle all the transactions and levy taxes and other charges for it. This profits the corporate and not the user. If people doesn't get into card usage they might have not got such charges for using their own money.

You want to say that now it is not so, even in the presence of cash? The bulk of the business now pays the wages for a credit card after taxes. You have no choice. You can earn cash just in case if you are engaged in private business, but not for long.

[chriswhiner]

Cashless society is the Credit Card and Debit Card Users right? its a totally different market and would not affect bitcoin society. most of them come from rich and the upper class and capitalized on the new thing like bitcoins to be more richer.

[CarnagexD]

I do not think cashless society will kill bitcoin but increase its price. Imagine a society without any currency notes the only method of paying is online. Since bitcoin transaction is fast and cheap and anonymous hence it would be preferred.

It is actually a good point to see how cashless payment could help Bitcoin in terms of transaction. If it would happened in the future we all know that Bitcoin could serve as the priority in transaction becasue it is the one who set its name into the market that proves that transaction thought the internet is possible as a part of innovation and development.

[RodeoX]

If the government came out today and declared that Bitcoin cannot be accepted as legal tender for purchases, I believe Bitcoin would find a way. It would find a way only because of the anonymity that today's cash affords people. Cash is the lovely bridge that people use in turning their Bitcoins into value.

What government? On what legal grounds?

Tomorrow though, when there is no longer cash and the only form of payment is electronic, and where all electronic payments are handled by auditable pools of companies, what will happen?

90%+ of your transactions are already electronic. Most people do not have a penny that was not accounted for electronically. Your paycheck. the ATM, online banking, etc. Banks do not actually hold your money, they are just credits on a ledger
It is because of this that bitcoin will crush banking. Bitcoin is a digital native response to banking's clumsy attempt to fit paper money into a digital system. This all helps bitcoin.

[marjoree]

I do not think cashless society will kill bitcoin but increase its price. Imagine a society without any currency notes the only method of paying is online. Since bitcoin transaction is fast and cheap and anonymous hence it would be preferred.

True. And its not easy to do that because not all people can adapt that. And if only they could imaging what bitcoin will bring to people then bitcoin will last as long as it is used

[balakang00]

bitcoin is obviously supported by money, if people have no money, how could they buy or sell bitcoin? the money is circulating and makes bitcoin alive.