Cashless society

[aizen10]

An ideal cashless society is far from the reality, in India atleast. People have trouble getting good internet connections, many haven't used a computer in their lives too. When I try convincing some people to adopt BTC, they just shrug it off saying its just some HYIP/ponzi scheme. People have started using debit/credit cards/  netbanking to pay for stuff, but ideal cashless society is equipped with cryptocurrency, where the majority of the people of that society adopt cryptocurrencies, and that isn't happening anytime soon in India.

I don't think that those who support cashless society care whether its feasible or efficient. They esteem ideology over human concerns or standard of living.

Even in the united states many homeless or poor might be unable to buy or sell basic necessities like food if they were unable to afford a cell phone equipped with digital transaction/internet.

Many could starve or die if cashless society were adopted.

i think you might right, this cashless society has a risky idea on somehow but in other hand it is has a good benefits to the others,like , works makes easier and mostly jobs are relevant at that moment because of the instant feature. and maybe those people homeless or poor youve mentioned they gonna have their jobs if ever because the society had changed.

[TexasHuck]

Humanity will always have the need to hold something physical for value.  Printed BTC wallets would suffice as cash though.

[azguard]

cashless society is a good concept to hear but its very hard to implement.The reason for this is that there are still large number of illiterate people all over the world who don't know about digital transactions,don't have a credit or debit card.they believe only the paper money as true money which they could feel in their hands.Recently,indian government also tried to convert people to cashless transactions,but it failed.

I agree dude, it's a good concept but too good to be effectively implimented in today's society. Imagine the comvenience ot wpuldngive us for transactions if we don't have to physically bring in money. But i think that's still far from happeming. Although right now we have cashless transactions, it would be almost impossible to go exclusively cashless.

Definitely I wasn't agree in cashless society, due to issue of legality of bitcoin in different part of the world. Moreover it was hardly to accept but most of the people was not educated regarding electronic devices. So if we hug the cashless society how about the others, they can't know how to use digital currency. Maybe cashless society will happen if 90% of the whole world population are using bitcoin.

This is just a concept nothing more at the moment. For this to even come to next stage in process it will take a lot more time not just work. Everything that is new is always risky to some point but this is really hard to accomplish. believe that less population will be needed for this to work little more then 70% and again this is still huge amount. Think that this idea will come to next stage when half of the population in the world are using it not before.

[7daystodie]

I think it's too early to say that the society will completely give up cash, because many in poor countries do not yet know how to use electronic money and even fear them.

[David Hoggs]

I think this will be the future of bitcoins when it will accepted worldwide and in be included in all payment methods. But it is a just a predict, rest in depends upon the government of all countries that they accepted the bitcoin or not as their national currency.

[Stingray1970]

Would you want this to happen in the real world :
- sir we think that smoking is bad, so we made the system not able to pay for sigarettes anymore.
- sir we think that drinking soda is bad for your healt so we forbade paying for it.
- sir, we saw that you payed for a prostitute, why did you go there ?

Do you think this is the way the world should like. I for one, not.

[exstasie]

Would you want this to happen in the real world :
- sir we think that smoking is bad, so we made the system not able to pay for sigarettes anymore.
- sir we think that drinking soda is bad for your healt so we forbade paying for it.
- sir, we saw that you payed for a prostitute, why did you go there ?

Do you think this is the way the world should like. I for one, not.

What are you going to do about it?

Unfortunately, Bitcoin (as is) doesn't help much with that. The blockchain is completely transparent, and blockchain analysis is becoming very sophisticated. The authorities are running honeypots and Tor exit nodes left and right.

Things like Confidential Transactions, TumbleBit and Schnorr aggregation really can't come soon enough. Fungibility and privacy are becoming real issues now that Bitcoin is becoming mainstream.

[aizen10]

Would you want this to happen in the real world :
- sir we think that smoking is bad, so we made the system not able to pay for sigarettes anymore.
- sir we think that drinking soda is bad for your healt so we forbade paying for it.
- sir, we saw that you payed for a prostitute, why did you go there ?

Do you think this is the way the world should like. I for one, not.

cashless, meaning you dont have to bring a cash. instead of paying a paper bill you pay for bitcoin and nothing like free. you telling in your post that all thing are free when the cashless society comes. its not like that dude.

[seraph_the_wise]

I have thought about this before, having a cashless society and even wondered if crime rates such as stealing would be minimized when all would apply to have cashless. There are actually benefits and downsides while having a cashless society. It could be practiced slowly and people would get used to it, very futuristic indeed. But what about those living in the 3rd world country, would they be able to keep up with having no cash at all?

I think you are right, there are indeed benefits and drawbacks. I guess mugging and other crimes would decrease, but on the flipside, hacking would skyrocket. Also, privacy issues are still an issue in the digital realm despite all the decentralization and encryption. Moreover, a (connected) cashless society will completely depend on the infrastructure resilientness (think internet speed, power outages, node backups, hacking, foreign attacks), which costs money to maintain.
I think a 100% cashless society is a nice goal, but realistically I would prefer a 99% one with cash as backup just in case

[Stingray1970]

Would you want this to happen in the real world :
- sir we think that smoking is bad, so we made the system not able to pay for sigarettes anymore.
- sir we think that drinking soda is bad for your healt so we forbade paying for it.
- sir, we saw that you payed for a prostitute, why did you go there ?

Do you think this is the way the world should like. I for one, not.

cashless, meaning you dont have to bring a cash. instead of paying a paper bill you pay for bitcoin and nothing like free. you telling in your post that all thing are free when the cashless society comes. its not like that dude.

Did you read at all what I've written ?

[HasHe]

Cashless society is really a good concept so that the respective governments could take control of their economy and citizens money transactions.But in reality,it seems impractical to apply for atleast now.Lots of people are illiterate all over the world.They are found in all countries.They have no knowledge about digital transactions.Neither they have a bank account,nor they have a credit card or debit card.All they know is only the paper money which they could hold in their hands physically.In india,recently the government tried to ban high value notes and by doing this,it tried to turn people in to cashless transactions.But people even suffered without paper money,but majority of people didn't switch to cashless transactions.It was a big failure in india.Other countries are no more different from india.So,it would be impractical to try to create a cashless society.

[Stingray1970]

It gives a government complete control over everybody and everything, hence the reason why governments and central banks are for it in the first place.

[Dudeperfect]

The official digital currency is a trend in the future, and the central bank has made a point before,

Indeed, it saves costs and improves efficiency

Exactly, moving information is far cheap, fast and better way than actually moving the values from one point to another. We will have a digital transformation in the financial industry in the coming decade which could boost the capacity of the global economy as a whole. I think this is the x factor behind the popularity of the Bitcoin or cryptocurrencies.

Even it's not restricted to the financial industries, Russia is testing blockchain for recording and maintaining land records, there is a scope of blockchain in IOT sector and these developments are pushing us towards not only cashless but also paperless society.

[bhadz]

Without a doubt and I'm 100% very sure that cashless society will be coming soon. If I'm not mistaken it's already being done in Switzerland and in US. People have microchips on their hands and they are happily transacting in bars paying their bills. And in Switzerland, there's a company, I just forgot the name of it, their employees are required with it.

Now a day’s a lot of countries are beginning to apply cashless now a day’s earning money is difficult and very expensive to make paper money so several countries implements cashless society, I agree with the word cashless but I think bitcoin can solve the problem of ceaselessness because the cashless society is actually a bit coinless society so every cashless society needs to know bitcoin first. 

It is because cashless or paperless transactions are more efficient and environment friendly. How? we don't have to cut off trees for the papers that we need to use for the receipts and for using to print out our paper money. We are heading there and there's already a start for it.

[supine]

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.

Agreed although some people in the government would disagreed, Finding ways to this system not be implemented on their government, some people in our government are corrupt and desire for their financial income, if cryptocurency is implemented in our government people would look at this system as an opportunity on lessening corrupt people at the their government.

[ghostunicorn]

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.

Agreed although some people in the government would disagreed, Finding ways to this system not be implemented on their government, some people in our government are corrupt and desire for their financial income, if cryptocurency is implemented in our government people would look at this system as an opportunity on lessening corrupt people at the their government.

I never think that some governments will use bitcoin or other crypto coins officially. Here, I'm talking about big countries and their governments. Let's say USA has adopted bitcoin and declared that it's an official currency in its territory. How the rest of the system will go? Do they remove US dollars? I don't think so. And bitcoin would not be a good idea for cashless society as well. The inflation of US dollars is low, how about bitcoin? High and crazy inlfation in there.

[MyIdeas]

It gives a government complete control over everybody and everything, hence the reason why governments and central banks are for it in the first place.

But I believe that government never be able to see the bitcoin assets of a person because no nobody will able to look onto the wallets of bitcoin, even the government is not authorized to do that, and this is the feature of bitcoin. If bitcoin become centralized then it will not good for bitcoin users. Central banks always want to make bitcoin centralized.

[Farfenkugel]

It gives a government complete control over everybody and everything, hence the reason why governments and central banks are for it in the first place.

But I believe that government never be able to see the bitcoin assets of a person because no nobody will able to look onto the wallets of bitcoin, even the government is not authorized to do that, and this is the feature of bitcoin. If bitcoin become centralized then it will not good for bitcoin users. Central banks always want to make bitcoin centralized.

I believe they will. The government will use every trick in the book to centralise bitcoin. If they can't find a way, they will surely pay enought to the programmer to sell all transaction information eventually.

Everything is hackable these days. Whats stopping banks to hire hackers to find information ? It's not like there is a bitcoin police to investigate such 'crimes'.

I wish we had a cashless society, money is the root of almost everything bad happening, including wars.

But realise that they won't allow something to be uncontrolled for long. If it does not fit the system, it will be rejected, ridiculed and banned.

[exstasie]

It gives a government complete control over everybody and everything, hence the reason why governments and central banks are for it in the first place.

But I believe that government never be able to see the bitcoin assets of a person because no nobody will able to look onto the wallets of bitcoin, even the government is not authorized to do that, and this is the feature of bitcoin. If bitcoin become centralized then it will not good for bitcoin users. Central banks always want to make bitcoin centralized.

One of the things that governments will do now is to drive people towards regulated exchanges and custodial services (which will eventually be affiliated with banks). Isn't Coinbase somehow affiliated with Goldman Sachs people? The banks will definitely sink their teeth into this industry, and they will probably get a lot of market share (holding peoples crypto assets via funds and custodial wallets, just like bank accounts). In this way, they can at least monitor (for tax and money laundering purposes) peoples' activities.

They may not be able to see inside your personal wallets, but it will get easier and easier to link those funds to you over time. Blockchain analysis is a burgeoning industry.

[Pattart]

At first glance, I think cashless society will literally improve quality of our life. We don't need to bring wallet or paper money.
However, at second glance, considering security or control issue, I have concerns on cashless society.

Everything will be good at terms of transactions. And that's one of the good thing in it, we don't have to bring cash and sort of credit cards. Well it will be the other effect of that thing, our information will be exposed to the government and they will have the control for this thing when it was implemented already.

I think credit cards include cashless. Because you do not need to bring a lot of money to shop. You only need one credit card to buy anything without complicated amount of money you have to carry. But for future cashless versions will certainly be better than credit cards. So better wait for what will be new to be made