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V1saya
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March 29, 2018, 03:32:56 AM |
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It is hard to imagine a world without physical money but in the future we cannot avoid it although maybe there are still come small physical money in circulations especially in the poor sector.
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RavenHood
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March 29, 2018, 08:45:43 AM |
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An economy without physical cash isn't alright for poor people. Honestly, the vast majority of them say that it will be an incredible thought. However, you are a destitute individual in the not to modern country or city a significant portion of the general population doesn't have a knowledge and ability to use some computer and some cryptocurrency.
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bitgolden
Legendary
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Activity: 2800
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Leading Crypto Sports Betting & Casino Platform
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March 30, 2018, 04:52:32 AM |
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
It’s in no way safe for them. What did you call them, the poor right? Since the are poor, they will in no way be able to make use of Bitcoin because they can’t have access to it, due to other having the required gadgets that does that. BTC cannot be a currency, cause it doesn’t have the qualities of a true currency; real currencies can be used both online and offline. When using fiat, you’re able to use it online and offline; there are mobiles apps that allows the use of fiat online just like your bank mobile app or PayPal, Payza and the rest of them. |
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tbterryboy
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March 30, 2018, 04:57:10 AM |
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I think it's not safe at all, it's risky and unpractical. We as a society and generation are well adapted to the
use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
That’s true bro. We have adapted to the use of fiat and changing fiat will be very difficult, not even just difficult but impossible. You can’t change it, all you can do is invent ways that will make transactions easier, safe and faster. Just like Bitcoin, it is an asset (a digital asset) but we still use it to make transactions and then withdraw them to fiat and it is also fast and safe too (though I’m not sure if the safety is 100%) an economy without physical money won’t be in favor of the poor ones. |
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Tapyaks72
Member
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Activity: 490
Merit: 28
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March 30, 2018, 05:05:26 AM |
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I think it's not safe at all, it's risky and unpractical. We as a society and generation are well adapted to the
use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.
That’s true bro. We have adapted to the use of fiat and changing fiat will be very difficult, not even just difficult but impossible. You can’t change it, all you can do is invent ways that will make transactions easier, safe and faster. Just like Bitcoin, it is an asset (a digital asset) but we still use it to make transactions and then withdraw them to fiat and it is also fast and safe too (though I’m not sure if the safety is 100%) an economy without physical money won’t be in favor of the poor ones. Yeah because of technology will make everything easy technology will make monetary transaction more user friendly if it will happen monetary will become more versatile because their no burden of bringing physical money if you every where and transaction will become more faster and more safe. |
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goodvibes05
Member
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Activity: 252
Merit: 10
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March 30, 2018, 05:35:08 AM |
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In my opinion, I think it is not that safe. It also has advantage and disadvantages especially to the poorest people. Even if we are now living in a digitized world, we have to admit that not all people have knowledge in cryptocurrency and not all people can afford to have a savings account. People in urban community will still need physical money over cryptocurrency, it is more safer and easy for them to use on their daily living. We have to face the reality that there are still this community that doesn't have a source of electricity and no internet connection. Living in a place without physical money will be more difficult for the poorest people.
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srmecdes
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March 30, 2018, 05:51:14 AM |
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In any condition there is not any safe place for poorest guys. Unfortunetely there is no more or less safe condition.
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MAJICOIN
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March 30, 2018, 06:37:48 AM |
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For a good economy and prosper economy physical money is important and through paper money the future is safe because the money is physically existed and it is with you at home so the country is bound to to receive the paper money which they printed while in the other currencies you can not bound any one for that and the paper money is good for the poor people as well.
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acener
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Merit: 115
★Bitvest.io★ Play Plinko or Invest!
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March 30, 2018, 06:46:25 AM |
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
I think it is safe but would be too impossible to make it happen. Poorest people here in our country also didn't have enough education about the edvanced technology and so as the use of computer so I think it would be really hard for them to access bitcoin without enough knowlege. Physical money is still necessary for them. |
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spyerf
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March 30, 2018, 12:33:03 PM |
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An economy without physical cash isn't alright for poor people. Honestly, the vast majority of them say that it will be an incredible thought. However, you are a destitute individual in the not to modern country or city a significant portion of the general population doesn't have a knowledge and ability to use some computer and some cryptocurrency.
I do not think this will happen. if that happens, of course the government is already thinking about how to overcome it. so this does not affect the occupants of each circle. except for the ignorant and lazy. because not everyone who is poor is stupid and has no ability. |
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Cita1
Newbie
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Activity: 153
Merit: 0
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March 30, 2018, 01:04:31 PM |
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
I think without physical money is safe for the poor. In our country not everyone is a computer literate and there are even places that does not have electricity and computers. Internet is also costly that not everyone can afford it. Meaning poor people only use the physical money. |
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Xanxus024
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March 30, 2018, 01:20:45 PM |
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Its too unfair especially to the poor people because not all the people can afford to buy a device for using this new technology and for sure not all the people do not know how to use it, I think the problem that we face if that happen basically the system will become centralized and it may lead to corruption.
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sampalokmix
Full Member
Offline
Activity: 315
Merit: 100
Investing in the future development of blockchain
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March 30, 2018, 01:22:22 PM |
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It's a scary scenario, but not that far removed from today.
Everyone would need to have some type of basic electronic for transacting. Even the homeless.
I gree with that Bitcoin is very techy currency, it involves knowledge about technology and access to it. If a person is not into it how could he or she possible to have his or her own salary to this, just like to the less fortunate people if physical money will be non existent how could they possibly earn if there are not familiar with Bitcoin? |
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posi
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March 30, 2018, 05:46:23 PM |
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Yes, in a situation where we don't have physical money, hackers will be best friend to have and for the population of the poorest it will be hard for them to do their day to day activity because they will the internet and of which they afford a computer.
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senne
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March 30, 2018, 05:54:42 PM |
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If you talk about the poor, I think we will always need physical money for them. As there are still many people below the poverty line which cannot afford food for a day, it will be very expensive for them to have devices for virtual money. Either government should provide them facilities or virtual currency system this cannot be implemented.
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whyrqa
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March 30, 2018, 06:56:58 PM |
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If you talk about the poor, I think we will always need physical money for them. As there are still many people below the poverty line which cannot afford food for a day, it will be very expensive for them to have devices for virtual money. Either government should provide them facilities or virtual currency system this cannot be implemented.
I just do not understand How poor people will be able to realize all their needs if the world comes to electronic currency. This is practically the first step toward their extinction. We must take care of the unprotected strata of the population. |
#business #forextrader #bitcoinnews #invest
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semobo
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March 30, 2018, 07:13:32 PM |
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If physical money can then why digital money cant?
If that happens the poor people also will get updated to that situation for using digital money even they can use ti with android mobiles and the android mobiles are now available for $50 dollars too so the device may not be the big problem.
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Rubble898zaitO
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Activity: 210
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March 30, 2018, 07:30:27 PM |
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The status of the poor wouldn't be that much different than what their status would be if having all forms of currencies be digitized. Why? It's pretty simple actually. Right now, with fiat around, they're already poor because they don't have any of it. Crime rates are still up there because of poverty. Will those change simply because all currencies are digitized? I don't think so. If anything, it may make matters worse for these less fortunate ones.
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ajdaj
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March 30, 2018, 08:30:19 PM |
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The status of the poor wouldn't be that much different than what their status would be if having all forms of currencies be digitized. Why? It's pretty simple actually. Right now, with fiat around, they're already poor because they don't have any of it. Crime rates are still up there because of poverty. Will those change simply because all currencies are digitized? I don't think so. If anything, it may make matters worse for these less fortunate ones.
We must still take into account the situation that practically the majority of the world's population does not have the necessary means to exist in full. In addition to highly developed countries, all other countries provide false statistics about the incomes of their citizens. Translating all means into the digital currency, we risk plunging into the world into social chaos. |
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stayeduptolate
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March 31, 2018, 09:56:27 AM |
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
An economy without physical money is something of the future, unless and until the complete living population is able to adopt a digital payment setup, this future cannot be realized. This complete population includes both the rich and the poor, however, the rich with access to more resources can stay above the curve with more knowledge of technology and a better way to make the new tech work for them. The poor on the other side often lack technological literacy to fathom the intricacies of a new advance system. So they may take more time to adapt. Having said that, this doesn't mean it would be bad for the poor. If digital currency is made mainstream, the rich don't be able to get away with tax evasion and other illegal monetory transaction, this will keep more money flowing in the economy which will help everyone in the long run |
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