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Author Topic: [2016-12-15]Denmark - war on cash  (Read 227 times)
Alex077
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December 15, 2016, 09:57:41 AM
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Another European country is planning to cancel the circulation of cash. In Denmark, it is increasing the number of banks that are beginning to question the need to print paper money. Thus, the National Bank is considering the possibility of applying e- money - so-called e-crown...https://bit.news/eng/denmark-going-join-war-cash/

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December 15, 2016, 10:25:36 AM
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Another European country is planning to cancel the circulation of cash. In Denmark, it is increasing the number of banks that are beginning to question the need to print paper money. Thus, the National Bank is considering the possibility of applying e- money - so-called e-crown...https://bit.news/eng/denmark-going-join-war-cash/

This is a step towards using Bitcoin IMO. Today people still associate their credit card accounts with the "real money" or cash, and they have difficulties with accepting Bitcoin because they don't know with what they can associate it. "With random numbers and letters?", "What value in that?" - they think. But when they will be used to having only e- money, they will accept Bitcoin more easily.
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December 15, 2016, 01:19:04 PM
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This isn't news. Here's a version of the story from about a year ago: https://cointelegraph.com/news/cash-electronic-money-scandinavia

It first broke about 6 months before that, iirc.

I assume (perhaps incorrectly) that governments worldwide are going in this direction to prevent bank runs as their fiat currencies collapse. From their point of view, collapse is not possible if they cover all possible choke points.

Watch, wait and hodl some crypto. We live in interesting times.                Wink

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December 15, 2016, 02:43:12 PM
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This isn't news. Here's a version of the story from about a year ago: https://cointelegraph.com/news/cash-electronic-money-scandinavia

It first broke about 6 months before that, iirc.

I assume (perhaps incorrectly) that governments worldwide are going in this direction to prevent bank runs as their fiat currencies collapse. From their point of view, collapse is not possible if they cover all possible choke points.

Watch, wait and hodl some crypto. We live in interesting times.                Wink



They can only stop bank runs, if they use their own technologies under their control. The public Blockchains like Bitcoin is not under their control,

so they will most probably never use Bitcoin. As you say my friend, we live in interesting times.. where people have to resort to Bitcoin to protect

their wealth. { Banning of high denomination in cash... India }  Roll Eyes

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December 15, 2016, 03:53:45 PM
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So the next one will be Denmark. If I remember correctly, Sweden was planning to do it do. Some say that the recent rise in price might be tied to the ban of the biggest cash notes in India. If so, since Euro is doomed, that will be good if that brings another rise of the price Wink !

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