EU ramps up war on cash

[c789]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

[OROBTC]

...

This whole War on Cash is getting worrisome and tiresome.  For sure it is an assault on our liberties, in a variety of ways.

-- Electronic cash in banks are at risk of being hacked!
-- Would you really want .gov to be able to follow all of your purchases?
-- First comes negative interest rates..., should people try to withdraw their cash, then bam!  Hammer comes down.  We lose...

Yes, vote any politicians OUT who support these very bad ideas.

[Xester]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

More and more countries are piling up to move the use of digital money and leaving behind paper money. This is somehow intriguing and worrisome. If there will be no more paper money then the people in the outskirts without access to internet will die of starvation. The New World Order will really move its butt to promote digital fiat currency so they can implant chips to every citizens and that will be the start of demonic rule on earth.

[The Sceptical Chymist]

Question:  Why do bitcoin fans care about a cashless society?  That's basically what bitcoin is.  No paper, no metal coins.  Yes, that's what we're moving toward, but I think most people are happy not carrying around cash.  Yeah, the government is pushing toward this but I don't see much opposition to it, except for frigging ZERO HEDGE idiots.  Why do people still read that crap?  All they want to do is push precious metals--the people who write the articles probably have an ulterior motive, you know.

Having said all that, I am definitely a fan of coins and precious metals.  But as far as money goes, it really, really doesn't need to exist physically.  Just like you don't need a stock certificate when you own a stock.

[c789]

Question:  Why do bitcoin fans care about a cashless society?  That's basically what bitcoin is.  No paper, no metal coins.  Yes, that's what we're moving toward, but I think most people are happy not carrying around cash.  Yeah, the government is pushing toward this but I don't see much opposition to it, except for frigging ZERO HEDGE idiots.  Why do people still read that crap?  All they want to do is push precious metals--the people who write the articles probably have an ulterior motive, you know.

Having said all that, I am definitely a fan of coins and precious metals.  But as far as money goes, it really, really doesn't need to exist physically.  Just like you don't need a stock certificate when you own a stock.

I would argue that Bitcoin (and Monero to a greater extent because it is private) is analogous to digital cash. You can move cash around without necessarily having to go through a bank for quite some time. Same with cryptocurrency. Banning cash means they want control of every transaction. If a government moves to ban or restrict cash, they will also move to ban or restrict its digital equivalent.

But let's say none of that is correct. Even then, we should let our representatives know that this is a short step away from tyranny and it must not be allowed.

[davis196]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

I live in the EU and all the politicians in my country don`t really care about this "cashless society" idea.
Terrorists don`t always need cash or digital money.A terrorist can use a knife or a car.

[Gromozeka!]

Question:  Why do bitcoin fans care about a cashless society?  That's basically what bitcoin is.  No paper, no metal coins.  Yes, that's what we're moving toward, but I think most people are happy not carrying around cash.  Yeah, the government is pushing toward this but I don't see much opposition to it, except for frigging ZERO HEDGE idiots.  Why do people still read that crap?  All they want to do is push precious metals--the people who write the articles probably have an ulterior motive, you know.

Having said all that, I am definitely a fan of coins and precious metals.  But as far as money goes, it really, really doesn't need to exist physically.  Just like you don't need a stock certificate when you own a stock.

I would argue that Bitcoin (and Monero to a greater extent because it is private) is analogous to digital cash. You can move cash around without necessarily having to go through a bank for quite some time. Same with cryptocurrency. Banning cash means they want control of every transaction. If a government moves to ban or restrict cash, they will also move to ban or restrict its digital equivalent.

But let's say none of that is correct. Even then, we should let our representatives know that this is a short step away from tyranny and it must not be allowed.

It's more like fighting windmills, terrorism must be fought entirely different, but what they do is just the appearance of work. The desired result it will not bring.

[Rahar02]

Question:  Why do bitcoin fans care about a cashless society?  That's basically what bitcoin is.  No paper, no metal coins.  Yes, that's what we're moving toward, but I think most people are happy not carrying around cash.  Yeah, the government is pushing toward this but I don't see much opposition to it, except for frigging ZERO HEDGE idiots.  Why do people still read that crap?  All they want to do is push precious metals--the people who write the articles probably have an ulterior motive, you know.

Having said all that, I am definitely a fan of coins and precious metals.  But as far as money goes, it really, really doesn't need to exist physically.  Just like you don't need a stock certificate when you own a stock.

I would argue that Bitcoin (and Monero to a greater extent because it is private) is analogous to digital cash. You can move cash around without necessarily having to go through a bank for quite some time. Same with cryptocurrency. Banning cash means they want control of every transaction. If a government moves to ban or restrict cash, they will also move to ban or restrict its digital equivalent.

But let's say none of that is correct. Even then, we should let our representatives know that this is a short step away from tyranny and it must not be allowed.

Yes, we can speculate the worst situations if the EU decide move to cashless society, the used of their own official digital currency should be affected bitcoin as well. How? I don't think they will allow another competitor which has more advantages. People will prefer to choose bitcoin obviously, if they don't like their every transaction being tracked.
However, I don't think EU citizens will approve this, they have right to vote? It won't be running smoothly without a hitch.

[Dude.Lebowski]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

I agree this is shitty.

I pose this question: will Bitcoin or the Euro be more important in 10 years?

[c789]

I pose this question: will Bitcoin or the Euro be more important in 10 years?

Bitcoin. The EU is on its last legs.

[megynacuna]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

I agree this is shitty.

I pose this question: will Bitcoin or the Euro be more important in 10 years?

Yeah very shitty, Bitcoin will definitely  be very important in the next 10 years due to the global rate of acceptance annually but I can't say the same for the euro.

[darkangel11]

I pose this question: will Bitcoin or the Euro be more important in 10 years?

Bitcoin. The EU is on its last legs.

It is, but I doubt paper money will be removed from circulation. This would take years, because many countries would surely veto, just like they did when EU forced them to receive refugees.
Member countries don't have to accept everything that EU wants. Many of them still haven't accepted Euro, so don't expect them to ban paper money just like that.

[panju1]

Question:  Why do bitcoin fans care about a cashless society?  That's basically what bitcoin is.  No paper, no metal coins.  Yes, that's what we're moving toward, but I think most people are happy not carrying around cash.  Yeah, the government is pushing toward this but I don't see much opposition to it, except for frigging ZERO HEDGE idiots.  Why do people still read that crap?  All they want to do is push precious metals--the people who write the articles probably have an ulterior motive, you know.

Having said all that, I am definitely a fan of coins and precious metals.  But as far as money goes, it really, really doesn't need to exist physically.  Just like you don't need a stock certificate when you own a stock.

There is a big difference between a centrally controlled digital currency stored in banks and a peer to peer currency like Bitcoin. Bail-ins of banks is the newest tool of the government to appropriate your wealth. This is made easier if the only way to hold fiat is through banks. So Bitcoin fans obviously do not like the government's move to a cashless society.

[Fortify]

It has positives and negatives really. It seems stupid in the modern age to still be using paper money when it is more efficient to do it electronically. Ultimately it would help to crack down on illicit money and make tracking criminals better. On the other side, if the power supply went down it would cause absolute anarchy and you could argue it would be much easier to repress people who didn't want to live in the system.

[Snorek]

I pose this question: will Bitcoin or the Euro be more important in 10 years?

Bitcoin. The EU is on its last legs.

It is, but I doubt paper money will be removed from circulation. This would take years, because many countries would surely veto, just like they did when EU forced them to receive refugees.
Member countries don't have to accept everything that EU wants. Many of them still haven't accepted Euro, so don't expect them to ban paper money just like that.

See what happened in India? They removed high denomination banknotes just like that. It didn't take them more than 2 months to do so.
If it was possible in India, 2nd populated country in the world to exchange/remove billions of banknotes, I see no technical difficulties to conduct this type of operation in EU.

[achow102]

I pose this question: will Bitcoin or the Euro be more important in 10 years?

Bitcoin. The EU is on its last legs.

It is, but I doubt paper money will be removed from circulation. This would take years, because many countries would surely veto, just like they did when EU forced them to receive refugees.
Member countries don't have to accept everything that EU wants. Many of them still haven't accepted Euro, so don't expect them to ban paper money just like that.

See what happened in India? They removed high denomination banknotes just like that. It didn't take them more than 2 months to do so.
If it was possible in India, 2nd populated country in the world to exchange/remove billions of banknotes, I see no technical difficulties to conduct this type of operation in EU.

This is just the EU recommendations. No one argues that the measures will be taken to withdraw the paper money from circulation. I am sure that there are no reasons to worry

[xorlogic]

My feeling is that we're doing the job for all the nations by moving into crypto currency. I think that it is important that while nation states are fighting to remove their cash and replace it will their digital mechanisms... at the same time we are putting in measures to prevent any one entity that can do it wrong, or give an unsubstantial system to support digital cash, like digital euros in a bank 


Indeed it could seem like a battle ground, whose digital cash is going to win over. I believe that Bitcoin Blockchain is the model that will withhold against hackers as it has been doing, and will prove to be superior to anything the banks will come up with.

[cellard]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

It doesn't matter what you vote, there is a global plan to ban cash. This cannot be stopped, cash will not exist anywhere in the world in the next 20 to 40 years or so, it will be a thing of the past.

We can't depend on politicians, only on ourselves, if we want financial freedom. That means, a strong decentralized bitcoin will be our savior, nothing else.

[Mario274]

http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

It doesn't matter what you vote, there is a global plan to ban cash. This cannot be stopped, cash will not exist anywhere in the world in the next 20 to 40 years or so, it will be a thing of the past.

We can't depend on politicians, only on ourselves, if we want financial freedom. That means, a strong decentralized bitcoin will be our savior, nothing else.

I am sure that even without a global plan of paper money will come out of a turn. They have already lost their popularity. All are moving to digital currency.

[Sithara007]

A lot of people here are complaining about different disadvantages of electronic/digital cash, such as lack of privacy and risk of hacking. But all of you are ignoring another important thing. Transactions in physical cash is free, while those using digital cash involves a transaction fee to the bank.