Cashless society

[mamaya]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

[Sled]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

[BlockEye]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

There's really a need for cash since there are few facilities that offers or accept btc now so there's no choice we just need to still use it. The only reason we risk our money in btc is the possibility that it will really pump and that we can earn in many ways having it than in actual fiat that having profit in business were too small and slow.

[romero121]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

There's really a need for cash since there are few facilities that offers or accept btc now so there's no choice we just need to still use it. The only reason we risk our money in btc is the possibility that it will really pump and that we can earn in many ways having it than in actual fiat that having profit in business were too small and slow.

Majority of the users have the same thinking, but the recent days this has changed a lot. Countries legalizing bitcoin is a way to create a cashless society. Little by little changes can be felt in the entire financial system. What's been done at present by several countries is Just a base and coming years we can see the same making evolution in the cashless system.

[Savemore]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

There's really a need for cash since there are few facilities that offers or accept btc now so there's no choice we just need to still use it. The only reason we risk our money in btc is the possibility that it will really pump and that we can earn in many ways having it than in actual fiat that having profit in business were too small and slow.

Majority of the users have the same thinking, but the recent days this has changed a lot. Countries legalizing bitcoin is a way to create a cashless society. Little by little changes can be felt in the entire financial system. What's been done at present by several countries is Just a base and coming years we can see the same making evolution in the cashless system.

Yeah. Many countries are now accepting the bitcoin as their daily payment but we can't become cashless society there are many big changes in our daily lives. The future will both use fiat money and cryptocurrency to their daily payments I believe to that.

[mklost]

The money based their value on trust but now with crypto the trust is digital and specualtive.

[Jherek]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

If you're using altcoin then it is possible that they have backdoors to the blockchain, it's not just speculation, i'm pretty sure there are cases of it happening in the past(usbcoin i think?). But the discussion here is about cashless society in general, not just about altcoins.

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

Well, i think if you are going to planning on implementing a cashless society completely, then you'd have to go with decentralization. If you are conducting transactions on the VISA and Mastercard network, you are trusting their system to function correctly and no hacks to occur.

Cashless society isn't a good thing by itself, but if it's done with btc then it is, as the economy becomes decentralized.

[gabmen]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

There's really a need for cash since there are few facilities that offers or accept btc now so there's no choice we just need to still use it. The only reason we risk our money in btc is the possibility that it will really pump and that we can earn in many ways having it than in actual fiat that having profit in business were too small and slow.

Majority of the users have the same thinking, but the recent days this has changed a lot. Countries legalizing bitcoin is a way to create a cashless society. Little by little changes can be felt in the entire financial system. What's been done at present by several countries is Just a base and coming years we can see the same making evolution in the cashless system.

Yeah. Many countries are now accepting the bitcoin as their daily payment but we can't become cashless society there are many big changes in our daily lives. The future will both use fiat money and cryptocurrency to their daily payments I believe to that.

For the simple reason that there should always be a back up especially with the monetary system hat we have, we can't go fully cashless. It's not logical tonhave a system that is based on something like the internet that can anytime crash. What happens to us then?

[Abiky]

Cashless society is not far to happen.  Many people nowadays accepted cyptocurrency as a new form of money.  With cashless society, you can go anywhere in the world without cash on hand and worry free of being holdup.You can do all the transaction via online so everything will be hassle free. Value of money will be the same everywhere as well. Thank you to the power of blockchain technology and the people behind it is a genius.  I am so excited to experience that.

Agree. We're not that far from making a cashless society become a reality soon. As more people become interconnected with the increased usage of smart mobile devices, they will have the opportunity to experience the use of cryptocurrencies or digital fiat currencies. While there are still some areas of the world where there is no internet access, that will be a thing of the past eventually leading the way towards a cashless society.

The blockchain technology has finally removed the need for trust, paving the way towards automation and freedom of commerce in a rapidly evolving world. With it, a cashless society would be formed where the IoT and AI would make a great combination towards an efficient ecosystem to make this a reality.

Nevertheless, where there is IoT, AI, and the blockchain, there is a possibility of a cashless society to happen in the future. It would probably be such where each government has a blockchain of its own or perhaps a new global currency would become used by any country in the world within a single unified blockchain. Just my opinion.

[deisik]

This is possible, but this would be implemented by the governments.  This would result into fiat currency being converted to electronic currency. Generally, I think this will not result to the governments using cryptocurrency as most of those are decentralized. Something the governments don't want.

Cashless society? Wow, sounds good to hear but how? Can we adopt this kind of system? If you said possible, what are some ways to implement of the government? I think it would take some years to be implemented this one. It would be hard for the beginner to adopt it. People wouldn't know how to handle it. The only thing they know is the fiat currency. The government here in my country don't care about this kind of system.

Did you watch movie "The Time"? That's futuristic model of a cashless world. But I am sure it;s the future of the humanity, well, of course not with time time model, but with some chip in the body with all private information pretty possible

You seem to refer to In Time movie, right?

That's one of may favorite movies about a possible dystopian future of humanity that may actually come true one day. But I can't agree that the world pictured in this movie is completely cashless (though I understand that this is highly debatable). Indeed, there are no coins and banknotes in this movie, buy everyone has his stash of money (in this case, time to live is used as a money token) in his own hand, so to speak. In other words, the transactions are still made hand-to-hand (in the literal sense of the phrase), and there are no Central banks or just banks (or network, for that matter) to process payments (at least, that's what we can guess)

[Superways]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

First of all internet will be never go down because though internet even hackers are working for it as they don't want to stop there earning from internet. So even hacker will never perform any action against internet. If they do then they will fail as it is more secure network. But yes if internet is goes down then the meetings which is helding though internet. The media everything will be go done. So the existence of cash will be also decrease it would be a challenge for a world to bring back Internet.

[Tungsten-1]

It would be a horror since you would be in the hands of the dev's .One negativ interrest rate and your wealth is going down when sleeping

Not only that but imagine what would happen in the case of the internet going down for a significant period of time due to hardware failure or hacks. At least now we can use cash even when all technology fails.

That is a great point, we shall still use the cash and not all depend in money in the internet because if there will be a crisis in the internet then people will just get stuck their money in the internet and having bitcoin is useless when the internet is on a crisis. Cash is created because of the things that we need to pay even there is something wrong in the internet or in the world because is very easy to use cash you just need to pull it out from your pocket then there is no fees to mind except tax then you are good to go.

There's really a need for cash since there are few facilities that offers or accept btc now so there's no choice we just need to still use it. The only reason we risk our money in btc is the possibility that it will really pump and that we can earn in many ways having it than in actual fiat that having profit in business were too small and slow.

Majority of the users have the same thinking, but the recent days this has changed a lot. Countries legalizing bitcoin is a way to create a cashless society. Little by little changes can be felt in the entire financial system. What's been done at present by several countries is Just a base and coming years we can see the same making evolution in the cashless system.

Yeah. Many countries are now accepting the bitcoin as their daily payment but we can't become cashless society there are many big changes in our daily lives. The future will both use fiat money and cryptocurrency to their daily payments I believe to that.

Correct , many countries accept bitcoin and also its use as a daily life needs and as a payment, but you are right that we all are not become a cashless society because both currency has its own values , so fiat money has its own power and value and bitcoin has also its own advantage and value . And I also think that these boths are use as a payment and daily needs.

[Yakamoto]

This is possible, but this would be implemented by the governments.  This would result into fiat currency being converted to electronic currency. Generally, I think this will not result to the governments using cryptocurrency as most of those are decentralized. Something the governments don't want.

Cashless society? Wow, sounds good to hear but how? Can we adopt this kind of system? If you said possible, what are some ways to implement of the government? I think it would take some years to be implemented this one. It would be hard for the beginner to adopt it. People wouldn't know how to handle it. The only thing they know is the fiat currency. The government here in my country don't care about this kind of system.

Did you watch movie "The Time"? That's futuristic model of a cashless world. But I am sure it;s the future of the humanity, well, of course not with time time model, but with some chip in the body with all private information pretty possible

You seem to refer to In Time movie, right?

That's one of may favorite movies about a possible dystopian future of humanity that may actually come true one day. But I can't agree that the world pictured in this movie is completely cashless (though I understand that this is highly debatable). Indeed, there are no coins and banknotes in this movie, buy everyone has his stash of money (in this case, time to live is used as a money token) in his own hand, so to speak. In other words, the transactions are still made hand-to-hand (in the literal sense of the phrase), and there are no Central banks or just banks (or network, for that matter) to process payments (at least, that's what we can guess)

In Time was a great movie when it came down to the atmosphere and the worldbuilding, that was a lot of fun to watch. It's a shame that we can have a system that allows for people to live until they run out of a clock on their arm, but whatever I guess. It's not like there's anything that could really be done about that. It kind of fits the feature of a cashless society considering they have no physical token to transfer money with aside from those bricks or whatever that could be used, but I guess it depends on personal definition for something like that.

[Abiky]

A cashless society is a nightmare for the people and good for the governments, because then they can fully control you. The government can put you on a blacklist if your personal opinion is not in accordance with their opinion.

Yes. It would be really bad to live in a cashless society, as governments would have full control over your financial information. However, the good thing about this is that it may reduce or completely eliminate criminal activity such as money laundering, as everything would be transparent making it much easier for governments to track and trace any unusual activity.

As banks and governments are becoming more interested into blockchain technology everyday, this may be unavoidable to happen at some point in the future. We will witness a cashless society where it brings convenience and security, but at the same time it will take over your privacy and control of your financial information.

Imagine if we had to use a digital Dollar, Euro, or perhaps a new world currency which every country around the world would use in a cashless society. The possibilities are endless, and we will embrace them in the future. Just my opinion.

[unusualfacts30]

Cashless society is already here. Most people don't use cash as much as they did before internet boom. I wouldn't want complete cashless society, it gives more power to the bank and government and take it away from people. Do you really want government keeping tracks of everything you buy/sell/own and then sell your information to private corporation who'll abuse it? It's already happening

[Osarman]

A cashless society is a nightmare for the people and good for the governments, because then they can fully control you. The government can put you on a blacklist if your personal opinion is not in accordance with their opinion.

Yes. It would be really bad to live in a cashless society, as governments would have full control over your financial information. However, the good thing about this is that it may reduce or completely eliminate criminal activity such as money laundering, as everything would be transparent making it much easier for governments to track and trace any unusual activity.

As banks and governments are becoming more interested into blockchain technology everyday, this may be unavoidable to happen at some point in the future. We will witness a cashless society where it brings convenience and security, but at the same time it will take over your privacy and control of your financial information.

Imagine if we had to use a digital Dollar, Euro, or perhaps a new world currency which every country around the world would use in a cashless society. The possibilities are endless, and we will embrace them in the future. Just my opinion.

now bitcoin has changed the life of a normal person now everyone is able to do something for his future .cashless society is possible around us but not totally cashless it will be because a society builds from people and people are not less in number at all so its not easy to be cashless now.

[Harlot]

I don't think that it is close to being a possibility because until now everything is based on cash from credit card payments to even Bitcoin you will see that it is being converted to Fiat currency. What the government also want is that their is a physical existence of their economy an actual proof of their own existence in which you will hardly see something that exist virtually. If the world goes virtual what do you think will happen? Then all the crimes now will double because money is now mostly seen in the web.

[soccerisbig78]

If that happens the difference between social classes also would be bigger. How can a poor person can afford those elements?

[Eclipse26]

This is possible, but this would be implemented by the governments.  This would result into fiat currency being converted to electronic currency. Generally, I think this will not result to the governments using cryptocurrency as most of those are decentralized. Something the governments don't want.

Exactly, government still doesn't accept it but it is possible in the virtual world. If it happen fiat currency would be useless and I believe that government would not let that happen. This cam affect also poor people who doesn't know how to used electronic gadgets which you can used in order to earn bitcoin.

[Pettuh4]

If that happens the difference between social classes also would be bigger. How can a poor person can afford those elements?

Perhaps prices of using those elements and payment processors are going to be cheaper too and will be brought down to meet every social class of people without discrimination.