Cash Is Trash

[LogitechMouse]

You can probably say that if you are an investor and you invested heavily in different investments.
If you will say this to an Average Joe who doesn't know anything about investments then he will be angry or at least will feel negatively when you say that cash is trash.

I disagree with this because many people are still using cash right now. You can say it because governments around the world are slowly printing cash and the value of it is slowly withering but we can't do anything about it because all of us are accepting cash especially when we buy some things right??

[kayvie]

Cash is basically not a trash because people nowadays are still into earning hard earned cash for their own survival. We are still working 8 hours in a day in order to receive our salary in the form of cash. While we are heading into a cashless society but i believe most of the countries are not yet ready for a big change in the system.

Well, we can't do anything but to use it, the adoption of crypto currencies is still not that huge the reason why we still use cash. But given the situation that they can actually use bitcoin or other cryptos to live, I think they would've proved themselves but right now we have no choice, either they use the trash or they don't use it, at the end of the day all of their cryptos will end up in cash.
[/quote]
Yes, more likely we don't have any other choice. Since cash is the primary mode of payment, that's why cash can't be considered as trash. Right now, cryptocurrency is not yet adopted/accepted in most countries, but the moment that it will be accepted everywhere, I think cash will be out of use anymore.

[Sapphire915]

For me, Cash is not a trash. From time to time, we definitely used cash especially when buying our daily needs in the market, like foods and etc. Its importance is beyond compare because no matter how digital the world now, people are always seeking cash. And we can't deny that traditional ways of securing funds always involves cash, and we always turn to cash no matter what.

[peter0425]

cash will never become trash until it was totally abolished (things that very impossible to happen)
yeah we are cryptocurrency supporter but it doesn't mean Cash will not be respected.admit it or not we are all still using Fiat so we have no rights to claim it is being trash.
Not until we see the world is using crypto then maybe that will be the start of trashing the cash.

[FlightyPouch]

Cash is basically not a trash because people nowadays are still into earning hard earned cash for their own survival. We are still working 8 hours in a day in order to receive our salary in the form of cash. While we are heading into a cashless society but i believe most of the countries are not yet ready for a big change in the system.

Well, we can't do anything but to use it, the adoption of crypto currencies is still not that huge the reason why we still use cash. But given the situation that they can actually use bitcoin or other cryptos to live, I think they would've proved themselves but right now we have no choice, either they use the trash or they don't use it, at the end of the day all of their cryptos will end up in cash.

Yes, more likely we don't have any other choice. Since cash is the primary mode of payment, that's why cash can't be considered as trash. Right now, cryptocurrency is not yet adopted/accepted in most countries, but the moment that it will be accepted everywhere, I think cash will be out of use anymore.

I think even if bitcoin and other crypto currencies are accepted everywhere in the world, I don't think that cash won't be use by people. There are still those that won't use crypto currencies, they hated it. That is why bitcoin and maybe some cryptos will just be used as an alternative way to pay, stores would accept them and it might be a way for people to get their salaries. We don't know what the future holds.

[gbrendeh]

cash can never be a trash as it is the one that we shall still eventually come back to. What is the percentage of trades that can be conducted with digital currencies?

[ampu]

The problem is that national central banks have overprinted money to get through the economic crisis. If the economic scale is not developed, the amount of cash they print is no different from paper. They will find a way for the money they print to become valuable. It depends on each time to say that cash is a mess. During the recession, people with cash were the ones who had the opportunity to own property at cheaper prices. I never meant to look down on fiat money but I think real estate, blue-chips, gold, and bitcoin are worth better because at least they don't get as much printed as FIAT money.

[whyrqa]

In order to use cryptocurrency for its intended purpose, you need a truly debugged system, as well as infrastructure. In addition, I am sure that more than 50% of the world's population is not ready to completely abandon cash, since for a user of a cryptocurrency it is important not only to have the cryptocurrency itself, but also to know how to use it and how to keep it safe. at least for the elderly and children it will be extremely difficult.

[Tipstar]

For a person who want to make money, holding cash is the worst option. Everyone should have a bit cash to overcome any unforeseen damage to property and health but holding anything about that means depreciating your earning. Cash due to inflation depreciates in value so does house, planes, cars and yacht. There are some options that may increase in value compare to cash, crypto, land, gold, valuable metals, rare commodities, piece of art can maintain a better value than cash.

[abhiseshakana]

The problem is that national central banks have overprinted money to get through the economic crisis. If the economic scale is not developed, the amount of cash they print is no different from paper. They will find a way for the money they print to become valuable. It depends on each time to say that cash is a mess. During the recession, people with cash were the ones who had the opportunity to own property at cheaper prices. I never meant to look down on fiat money but I think real estate, blue-chips, gold, and bitcoin are worth better because at least they don't get as much printed as FIAT money.

Printing money does not always have an impact on currency depreciation or inflation. If the money print is aimed at an economic stimulus or social safety net then inflation will occur. Important money must be followed by an increase in production so as not to be rolled by the waves of inflation.

During a pandemic like this, the production sector stops not because there is no capital but because the market is disappearing or shrinking, except for the food industry which continues to exist. We take the example of Japan, Japan is also printing money to support its projects. Japanese debt is also very high, but Japan can't get inflation, because its people really like to save and don't spend their money.

[Argoo]

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

If you say that cash is rubbish, I want more such rubbish. Anyone can express themselves in such a way. However, the cash of states has never been and never will be rubbish. The exceptions are states that have declared themselves bankrupt, that is, declared a default. However, this is not common. Until now, the economies of all states have successfully used national cash and non-cash money, which reflect the value of all goods in this state. Now we are switching more to the use of non-cash and digital forms of money, but this does not mean that the money of states will ever disappear. As long as there will be various states on our planet that will defend their economic and political development, as long as there will be national money of states, in cash or in cash, it does not matter anymore.

[naikturun]

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

actually money will continue to be considered valuable if people think it is, because from the beginning money is just plain paper that is given a value and people consider it valuable so money has value, but in terms of supply of course in the long run money will decline in value because someone can print it unlimited different from land, gold, diamonds, or other items that have limited supply.

[Crypto Lion]

I believe that since it has an impact on society for a few decades, cash still has some financial weight on it. But as cryptocurrencies and other financial alternatives come to surface, cash will become less impactful over time.

[erikoy]

I know what he was referring too, I just emphasize how useful cash is, lol.. just like the OP, it;s kind of confusing about the title but the content of the message will be easily understood.

That's why I ask him about .

Yeah OP just mention about the hedge funds being tanked under water. Probably that guy who done it were very lucky to save and positive in thinking about bullish like gold, cryptocurrency or even money itself if one is doing a stock market exchange. But, I do not know if physical money is vissible when you do stock market trading or I guess it is just figures and currency appears to it.

I'm not familiar with us stock market, is this the one(https://money.cnn.com/data/us_markets/)?

Me too, I was having hard time on searching US stockmarket. Or maybe he OP was referring to stock market all.over the world and not just the US market.

[nasipadang]

I disagree, apart from some correct predictions it doesn't mean "cash is trash" is correct. In fact cash still has value and is proportional to the concept of the trash itself, you have a correct prediction, this makes it seem as if you are the luckiest person. Everyone has something to express so for me they and @OP have the right to make an expression as long as it doesn't drop other people

[lumeire]

I believe that since it has an impact on society for a few decades, cash still has some financial weight on it. But as cryptocurrencies and other financial alternatives come to surface, cash will become less impactful over time.

Users always have such high expectations and they say that Crypto will replace cash very soon, the financial system doesn't work that way, even if the government would have to shift to Crypto or digital payments then they will first check the pros and cons and also the use cases of Crypto and then they will try and test these methods for a long period of time and then if there isn't any problem in that method then only they will replace cash with it. Right now we only know that Crypto is better in sending payments faster to anyone around the world but at the same time it is also volatile and we can't send payments without any internet connection and a phone, still lots of improvements have to be made in order for it to be used widely.

[naikturun]

The problem is that national central banks have overprinted money to get through the economic crisis. If the economic scale is not developed, the amount of cash they print is no different from paper. They will find a way for the money they print to become valuable. It depends on each time to say that cash is a mess. During the recession, people with cash were the ones who had the opportunity to own property at cheaper prices. I never meant to look down on fiat money but I think real estate, blue-chips, gold, and bitcoin are worth better because at least they don't get as much printed as FIAT money.

Printing money does not always have an impact on currency depreciation or inflation. If the money print is aimed at an economic stimulus or social safety net then inflation will occur. Important money must be followed by an increase in production so as not to be rolled by the waves of inflation.

During a pandemic like this, the production sector stops not because there is no capital but because the market is disappearing or shrinking, except for the food industry which continues to exist. We take the example of Japan, Japan is also printing money to support its projects. Japanese debt is also very high, but Japan can't get inflation, because its people really like to save and don't spend their money.

still printing money will have a negative impact that is bigger than the positive, you compare Japan with poor and developing countries, while the exchange rate of poor and developing countries will always fall to USD, if it continues to print even though production continues, I think the currency value the state money will still go down.
maybe in a few years 1usd will be worth over 20000 idr.

[ecnalubma]

Cash can only be a trash if it will lose its value, unless you are living in a countries like Venezuela, Zimbabwe, Sudan etc. which literally their currencies are almost useless. Cash system is an instrument abused so much by the government’s and sometimes the abuse could lead the ones country to a very shitty situation.