Cash Is Trash

[coolbaughandrew]

You can say "cash is trash" and "Bitcoin is the king" 100 times, but when you go for shopping, you have to pay with fiat, you get salaries in bucks. So maybe cash is trash, but it's irreplaceable "trash" now.

[bitgolden]

I would love to become a trash hunter if that is the case . I am sure I will find a lot of cash in there if it is such a trash right? In all seriousness I do hope that we can all move to mobile app payments one day, I really do not think that we need either cash or card anymore, technology has moved a lot further than that nowadays and it is really weird that we can have pos terminals everywhere but the shops can't have a tablet or two for payment processing?

I mean all we need is bank app of the bank we use, they will need their own bank app on their tablet, they will show us a qr code, we will scan it and accept the payment from our app and we are done, this is valid in many places right now but we need it to go bigger and basically become the standard of payment, after that we could move to crypto companies having their own apps that allows us to pay and that's it.

[Poker Player]

It's just the opposite, cash is still King.
 
He is comparing pears to apples, i.e. cash with investments. Cash is not an investment.  The fact that an investment goes up or down does not diminish the value of the cash.

Cash gives you security. It is not incompatible to have some cash and investments, it’s rather advisable.

The market will go down at some point, and, guess who will be able to buy cheap assets?

Those who have cash.

[mezzaluna]

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.

Is that even a valid argument? If cash is trash then the speaker who said that would not use any cash in his daily life. He made himself an hypocrite by saying that. We know that Cryptocurrencies are breaking their old records because of their current values but in no way that Cash will be trash in our world.

[ethereumhunter]

You can say "cash is trash" and "Bitcoin is the king" 100 times, but when you go for shopping, you have to pay with fiat, you get salaries in bucks. So maybe cash is trash, but it's irreplaceable "trash" now.

Yep, cash is not trash because we still use cash to buy anything we want. No matter if we use credit/debit cards, as long as that is mean about fiat, that still cash. Many countries still use cash too, and many of them do not use bitcoin as the payment method. Maybe until bitcoin can be used as the payment method, and cash is replaced by bitcoin, then he can say that cash is trash because cash will not be used as a payment system.

[Kong Hey Pakboy]

You can say "cash is trash" and "Bitcoin is the king" 100 times, but when you go for shopping, you have to pay with fiat, you get salaries in bucks. So maybe cash is trash, but it's irreplaceable "trash" now.

Yep, cash is not trash because we still use cash to buy anything we want. No matter if we use credit/debit cards, as long as that is mean about fiat, that still cash. Many countries still use cash too, and many of them do not use bitcoin as the payment method. Maybe until bitcoin can be used as the payment method, and cash is replaced by bitcoin, then he can say that cash is trash because cash will not be used as a payment system.

Indeed. Cash is not trash. Even we mostly put all of our funds in bitcoin and other cryptocurrencies, it doesn't mean we don't need cash anymore to provide our necessities and to pay all of our bills because most countries still doesn't accepts cryptocurrency and only few stores accepts virtual payment like credit/debit cards.

[posi]

You can say "cash is trash" and "Bitcoin is the king" 100 times

Cash is trash used by the OP was a statement made by Ray Diallo acouple of years back, always check OP message next time before making conclusion.
With that been said, if we do some research about the inflation level of fiat currency during the total lockdown season we can say cash is trash while bitcoin is king cause it maintain a stable price.

But when you go for shopping, you have to pay with fiat, you get salaries in bucks. So maybe cash is trash, but it's irreplaceable "trash" now.

Some store, mall, nerchant now BTC and people even received their salaries in crypto in the countries where bitcoin is legal and supported by the government.
Meanwhile, you shouldnt expect something create in the year 2019 to overthrow something that was to be used globally since the year 1971

[deisik]

But even though cash is king, the current system is corrupt, starting from bank interest, fractional reserve, seigniorage, the abolition of the Bretton wood agreement so that the US prints dollars without collateral, while other countries print dollars with collateral

So let's write a nice sum-up

Cash is best when you have to hide your money from the government because it is typically untraceable (it takes time and, ironically, money to make a pack of bills traceable), and it is indispensable for everyday expenses. But its margin of usability is still pretty thin. It is not as thin as that of payment cards (i.e. you can still pay in cash when you can no longer pay with a payment card) but if things go massively awry, it will quickly lose its appeal as well. And the sum-up is that you should use it wisely, with complete awareness of its strengths and weaknesses

[deisik]

With that been said, if we do some research about the inflation level of fiat currency during the total lockdown season we can say cash is trash while bitcoin is king cause it maintain a stable price

I would be particularly cautious in drawing such conclusions

Bitcoin is king simply due to the fact that fiat fails. As I see it, one thing is to be a king on one's own terms and merits (which Bitcoin is not), and the other to be a king through the failure of something else (read, by luck). In simple terms, if governments didn't destroy fiat by insane money-printing conveniently couched as fiscal stimulus, quantitative easing, and the whole spectrum of other euphemisms, fiat would still reign supreme

[BuNga_cute]

Very controversial once your topic title, because of the fact Cash is king. We have to admit we all still use Cash, though what is meant
in the opening post is related to investment. It is true that cash is not a store of value whose value is falling due to inflation, so it's a bad
decision if we invest in cash. But that does not mean cash is trash.

[posi]

With that been said, if we do some research about the inflation level of fiat currency during the total lockdown season we can say cash is trash while bitcoin is king cause it maintain a stable price

I would be particularly cautious in drawing such conclusions

Bitcoin is king simply due to the fact that fiat fails. As I see it, one thing is to be a king on one's own terms and merits (which Bitcoin is not), and the other to be a king through the failure of something else (read, by luck). In simple terms, if governments didn't destroy fiat by insane money-printing conveniently couched as fiscal stimulus, quantitative easing, and the whole spectrum of other euphemisms, fiat would still reign supreme

You're absolutely right cause Bitcoin was seen has king due to fiat failure but we cant the government are not aware that their act of insane printing of fiat and not setting a strategy which will make fiat supply limited was the one reason affecting fiat values. The question is why making the same mistakes over again?

[adzino]

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.

What does cash being trash has to do with stocks being bullish and price of gold going high? People are now buying stocks and gold with cash, so how is he "damn right"?
I bet you are still using cash despite calling it a trash and supporting his statement. So you are just being a little hypocrite over here.
Stop calling it a trash. We still need fiat/cash money to survive!

[imstillthebest]

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.

What does cash being trash has to do with stocks being bullish and price of gold going high? People are now buying stocks and gold with cash, so how is he "damn right"?
I bet you are still using cash despite calling it a trash and supporting his statement. So you are just being a little hypocrite over here.
Stop calling it a trash. We still need fiat/cash money to survive!

he said its trash because he put all of his money on his investment  and maybe he use other form of payment not related to cash  . stocks are falling once again , so whos laughing now ?  lol . he can laugh if he already sold his stock before the crash happen  but he wont sell for cash because he said its trash , maybe he will only trade it with other assets like crypto or gold .  i find that situation hard , not all times we can trade with other assets for something  , ill always find the need for cash

[Emitdama]

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.

I just don’t understand some people lol, you say Cash is trash but you’re still making use of it. When you invest your money in an asset, at last the profit you make will still go back to cash. We should understand that cash is meant to be different, it’s like the price for everything and everything is calculated in real currencies. Cash is not trash, it has its own ways of being useful.

When the market is crashing you will have to withdraw to cash to save your ass, and at that point in time cash becomes very important. You can then buy back when things starts getting better.

[cabron]

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.

I just don’t understand some people lol, you say Cash is trash but you’re still making use of it. When you invest your money in an asset, at last the profit you make will still go back to cash. We should understand that cash is meant to be different, it’s like the price for everything and everything is calculated in real currencies. Cash is not trash, it has its own ways of being useful.

When the market is crashing you will have to withdraw to cash to save your ass, and at that point in time cash becomes very important. You can then buy back when things starts getting better.

Well there is no other way but to use cash. If there is away to avoid it then many would have trash cash already because it can have covid virus that can infect anyone who holds it. Other countries like Korea and China that already adopted cashless transactions even to their malls and super markets, cash is not accepted. All the vendors do is provide QR code for all products.

[romero121]

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.

What does cash being trash has to do with stocks being bullish and price of gold going high? People are now buying stocks and gold with cash, so how is he "damn right"?
I bet you are still using cash despite calling it a trash and supporting his statement. So you are just being a little hypocrite over here.
Stop calling it a trash. We still need fiat/cash money to survive!

Cash usage all around the globe haven't got decreased out of the existence of cryptocurrencies. People have begun to use cryptocurrencies, but haven't completely moved to it. When such a scenario happens we can state cash is trash, until then everywhere cash have its value and usage.

Just because one has invested his cash on stocks or something else and ended with loss, he can't state it as trash. This is unfair, because with the same cash there are people who keep making money and doesn't have any idea about bitcoin or other cryptocurrencies.

[Xembin]

 Cash is more older than trash, cash is very easy to use in terms of investment .

[lixer]

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.

I really don’t understand some people . Someone saying that cash is trash, that makes them look really dumb to be sincere, because I don’t get why people will not understand that there is a purpose for everything. Cash is totally different from assets and stocks, these things are completely different from each other and having them is what makes each of them to have value.

There are times cash is of more importance and there are also times that assets can be better. When the stock market is crashing people would run to fiat to save them, and same thing when it’s the other way round. So, they all have their own purpose. And moreover, when you buy asset and the price goes up it’s all to make more cash right? So, I don’t get why people would say cash is trash.

[Kasabus]

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.

I really don’t understand some people . Someone saying that cash is trash, that makes them look really dumb to be sincere, because I don’t get why people will not understand that there is a purpose for everything. Cash is totally different from assets and stocks, these things are completely different from each other and having them is what makes each of them to have value.

There are times cash is of more importance and there are also times that assets can be better. When the stock market is crashing people would run to fiat to save them, and same thing when it’s the other way round. So, they all have their own purpose. And moreover, when you buy asset and the price goes up it’s all to make more cash right? So, I don’t get why people would say cash is trash.

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.

[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.