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Author Topic: Digital Money = Cashless Society  (Read 3995 times)
bycocoricos
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June 30, 2018, 01:44:03 PM
 #741

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It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??


Cash is just an universal commodity, a good that you get for your work and then give it to others to pay for their goods/services. Cash-like high liquidity commodities have always existed, ever since people started using rare beans and shiny stones to buy potatoes from a nearby tribe.

Cash as the most liquid commodity on the market will definitely disappear, as its liquidity will soon be out-matched by the liquidity of digital money.

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Kingjagat
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June 30, 2018, 02:24:43 PM
 #742

Digital currency is the in thing now. Many countries are opting for cashless. This means that the use of fiat currency which is fraught with theft. The use of credit and debit cards is the first step in digitalization. With the  gradual introduction of bitcoin and altcoins, total digitalization is the future economy.




I think our world is progressing, so are the applications and products. But somehow, there are still people who become the basic way of paying because they get used to it. Or maybe, those people have not introduced a new payment method yet. We can wait a few more years and this world will be a society without cash.
digital money is now used in every part of the world. This is very convenient in the sense that you do not have to carry a bag of money just to buy very expensive items. Just swipe or scan it, already paid. Our new era is needed to have new innovations for advancement and for that to be a mixture in our current high-tech world.
LovelyFLOWER
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June 30, 2018, 02:47:16 PM
 #743

Note: If you like my topics/threads and posts give me "+merits". See on the right side of each post (top right corner) there is "+Merits"

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??

Digital money will come out if bitcoin is promoted to the whole. And we all know that this will happen in the future. To live us on a cashless society. To be all happen in a quick transactions. That it should be done all in a electronic devices.
reyanshbasu
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June 30, 2018, 10:14:28 PM
 #744

Using digital money helps a lot of people for convenience in payment of different bills. Its save time for everyone if we use this kind of system. But I think it cant replace fiat money because it is the main currency in the different country and also maybe the new generation only know how to use it digital money because we all know there are people not born in a high technology and its hard for them to understand how to use it.
shadyrifles
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June 30, 2018, 10:26:39 PM
 #745

Many countries are in favor of cashless society. Sweden is steadily moving toward to become a completely cashless society for a number of years. In Sweden, the Cash is now being used in less than one in five of all cash transactions in stores – which is half of last five years. The country has banned notes and coins on public transportation and many tourist attractions and to take plastic-only transactions. Adoption of Digital Money will play the major role to become  Cashless Society.
goyal.dkg
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June 30, 2018, 10:51:58 PM
 #746

I am a strong Bitcoin's advocate, but I also believe using cash money is the only way to spend and receive money without being traced. So it would not be a good thing if cash will disappear.

I read that shops/stores sell Bitcoin immediately after they get the payment because of fear of price change.

what other options they do have ? because whatever you buys from them has a purchase cost which is paid by seller in fiat , so if he hold crypto and price goes down then it will a big risk for him . you can say he can hold it . but holding is like investing for him . he cant hold it otherwise for new stock he will have no new money . only solution is everyone start accepting crypto globally .
goyal.dkg
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June 30, 2018, 10:54:11 PM
 #747

Note: If you like my topics/threads and posts give me "+merits". See on the right side of each post (top right corner) there is "+Merits"

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??

I am a strong Bitcoin's advocate, but I also believe using cash money is the only way to spend and receive money without being traced. So it would not be a good thing if cash will disappear.

Cash will not disappear in future too , it is the mode of digital currency which will change and will be more secure . and for untraceable transactions you can use privacy coins . also who knows which ether/bitcoin address is ours or not .
Sled
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July 01, 2018, 12:54:36 AM
 #748

Note: If you like my topics/threads and posts give me "+merits". See on the right side of each post (top right corner) there is "+Merits"

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??

I am a strong Bitcoin's advocate, but I also believe using cash money is the only way to spend and receive money without being traced. So it would not be a good thing if cash will disappear.

Cash will not disappear in future too , it is the mode of digital currency which will change and will be more secure . and for untraceable transactions you can use privacy coins . also who knows which ether/bitcoin address is ours or not .
In the future, for me, the transaction with privacy coins will be forbidden because it is more prone to be used as a gateway of doing illegal since they are untraceable and the authorities like the police will have a hard time to locate or to find out who is the suspect and that is why i think we will have a traceable type of digital currency in the future.
Kris34
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July 01, 2018, 06:20:41 AM
 #749

Non-cash society is already close.  In one country the chip is already implanted for payment, it will soon be possible to pay them everywhere.
ucingucingan
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July 01, 2018, 06:41:05 AM
 #750

Today's financial transactions have begun to use digital, this is very profitable when compared to cash, the use of digital currency is more practical and episien where transactions can be done anywhere and anytime, and more environmentally friendly because of the lack of money printing using basic materials paper
First77
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July 01, 2018, 05:14:09 PM
 #751

what other options they do have ? because whatever you buys from them has a purchase cost which is paid by seller in fiat , so if he hold crypto and price goes down then it will a big risk for him . you can say he can hold it . but holding is like investing for him . he cant hold it otherwise for new stock he will have no new money . only solution is everyone start accepting crypto globally .

Let's say Bitcoin holder buys a laptop for 0.01 bitcoin and the price goes up by 20%, the Bitcoin holder loses 20% profit. There is no logic for Bitcoin payments.

In fact, gold and silver are better for payments at shops/stores because bullion never changes more than 3% in one day.
Maddinson100
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July 03, 2018, 05:40:55 AM
 #752

For me, it can happen, but the percentage on digital money equal to a cashless society is very meager. We all know that there is only a few establishments that are accepting bitcoin comparing to that establishment and companies that are accepting bitcoin as payment. Also, the acceptance of bitcoin is still meager even it is accessible and expensive. Maybe in the future, digital money is equal to cashless society if bitcoin and another cryptocurrency become legal and the acceptance grow.
If I say, we do not need cash if we are having a better a choice and this is important in many other ways. If the Bitcoin is available for fast transactions with lesser transaction fee and as a source of investment with huge profit then why are we worrying about cash? This digital world will benefit us the most and that is what we need to meet with all our benefits so again it has importance in our lives.
andika2018
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July 03, 2018, 07:28:41 AM
 #753

Today's financial transactions have begun to use digital, this is very profitable when compared to cash, the use of digital currency is more practical and episien where transactions can be done anywhere and anytime, and more environmentally friendly because of the lack of money printing using basic materials paper

Technology made it easier. With technology we can make transaction faster and cheaper. I am believe cashless society will happen in near time because we are living on digital world. Its much easier using digital money rather than using paper money, digital money is more safe and more faster if we using it for transaction

millionaireshs
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July 03, 2018, 08:26:59 AM
 #754

Note: If you like my topics/threads and posts give me "+merits". See on the right side of each post (top right corner) there is "+Merits"

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??


In my country here in the Philippines cashless payment is usually used for a Good Class of Living Standard because 50% above of the population value of the Low Class of Living is not availed for this kind of payment method. we are very thankful that bitcoin is coming to our life cashless payment in behalf of bitcoin is applicable now even if we are a poor person.

eup
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July 03, 2018, 08:32:35 AM
 #755

No, cryptocurrency is not equal to a cashless society. There is currently an example of a cashless society, that is China, but we can see that China does not use cryptocurrencies. They have formed a kind of cooperation and consensus between banks and enterprises. In other words, they digitized cash.
Husecomang
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July 04, 2018, 07:32:34 AM
 #756

Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way.

Thats what blockchain is but we need a currency which operates on Blockchain technology and the answer is bitcoin. The only hindress  of bitcoin being used and becoming the cashless society is the Government and other powerful bodies who do not what that fiat is being overcome by the decentralized bitcoin on which authorities has no control.
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July 04, 2018, 11:23:25 AM
 #757

Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way.

It does not make sense if we have a lot of cash and we can buy only few things but it is wonderful if we use less money and get many things. So, digital money is high life usage while the fiat money has no high life usage near a person. Therefore we would love to use digital money having high potential to buy things which is in our benefit and if we have this then we do not need cash.

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July 04, 2018, 12:35:17 PM
 #758

Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way.

This makes me often think about the Venezuelan money crisis when the inflation was a hyper inflation and the cost of printing money was far more than the face values of the money. Besides, the inflation was more than 13000% in the economy.

As a result, the people stopped accepting the money and started paying for goods and services by using mobile money. This reduced the amount of cash in the society and thereby making it possible to push the economy towards a cashless society.

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First77
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July 04, 2018, 01:37:56 PM
 #759

There is $10 to $100 worth of Gold in each computer processor (intel, qualcomm etc..). Gold runs the technology world.


Gold is not getting used in laptop and computers only but also in smartphones and TVs . The gold used in these devices is not recoverable and it make around 10%  of the total demand of gold. There is still too much scope in the expansion of the  smartphone industry so this demand will go up and remember this  amount of gold is lost (deflation). There are other industry uses of gold (like medicine, aerospace etc.) but they do not make a significant portion.
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July 04, 2018, 02:02:12 PM
 #760

Well I think we are really moving forward to being a cashless society there are so many things that we could pay online or with our card almost everything could be paid online now ,
So for me we could really say that we are now beginning to be a cashless society but people are not yet ready to leave the paper money or Fiat .


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