Are we heading toward a cashless future?

[Abiky]

They are not deceiving the people, and it is not difficult to see the government's true intention. The real problem is that most people simply do not care much about privacy, as you pointed out.

Bitcoin gives people better control over their asset and privacy. But as you can see, people often prioritize convenience and profit over privacy. Most people use CEX, centralized platform, instead of DEX or decentralized alternatives.


Not many people care about privacy, so it would not make any difference if CBDC were implemented.

And that's why the future will be a dark one. Because such mindset (where people don't care about their privacy) will bring an era of totalitarianism. CBDCs are only the beginning. This, combined with AI and Quantum Computing, will give governments more power over the people.

I certainly don't want to live in a cashless world. Who cares about convenience, when your whole life will be under the scope and direction of the government? People don't see it now, but they will in the future. It will be already too late when they've realized how far governments have gone. Bitcoin promises decentralization, freedom, and privacy (sort of). Despite the benefits, governments will have a final say on how things are done. They will dictate the rules of game, just like they've been doing now. But even worse. May God have mercy on our souls.

[tabas]

There may be a demand for cash transactions which cannot be completely stopped. The fear you have expressed is that if there is any disruption in the internet connection or it cannot be accessed during an emergency. There are many things in our daily lives where we sometimes have disruptions in our electricity and internet connection and if it remains useless for a few days, it will be difficult to lead a normal life. Technology has made our daily life easier but it is better to have an alternative system instead of relying completely on it.
Digital transactions are easy which is good for asset security but should not be overly dependent because it is better to be prepared for any emergency.

I think even in first world countries, cash won't be gone. They'd care for the elderly or people who are used to do transactions with cash. While it's very futuristic that we use cashless, bitcoin and other digital payment systems. It won't be completely removed when there are also people who are inadept with the innovation that we're having in regards to the payments that are being done through digital and it's still a good alternative system to have the cash for some downtime that can occur.

[junder]

I think even in first world countries, cash won't be gone. They'd care for the elderly or people who are used to do transactions with cash. While it's very futuristic that we use cashless, bitcoin and other digital payment systems. It won't be completely removed when there are also people who are inadept with the innovation that we're having in regards to the payments that are being done through digital and it's still a good alternative system to have the cash for some downtime that can occur.

It’s highly unlikely that cash will ever completely disappear, because in my opinion there will always be transactions that require cash even if it depends on the seller but that seems to be the reality, so there will always be people who only accept cash payments.
Actually, there are businesses that only accept cash payments, but as time goes on, non cash payments may become available as well, and that depends on the business owner. But in my country the businesses that have survived by only offering cash payments up to now are small neighborhood shops usually run by the elderly.

[liasbaa]

I think even in first world countries, cash won't be gone. They'd care for the elderly or people who are used to do transactions with cash. While it's very futuristic that we use cashless, bitcoin and other digital payment systems. It won't be completely removed when there are also people who are inadept with the innovation that we're having in regards to the payments that are being done through digital and it's still a good alternative system to have the cash for some downtime that can occur.

It’s highly unlikely that cash will ever completely disappear, because in my opinion there will always be transactions that require cash even if it depends on the seller but that seems to be the reality, so there will always be people who only accept cash payments.
Actually, there are businesses that only accept cash payments, but as time goes on, non cash payments may become available as well, and that depends on the business owner. But in my country the businesses that have survived by only offering cash payments up to now are small neighborhood shops usually run by the elderly.

Over time, social evolution has taken place and many old ideas have disappeared. Reading history, it is known that in the past, gold and silver coins were used for transactions and goods and services. The practice of exchanging one product for another was prevalent. Currently, most countries use fiat printed on paper, which has abolished the previous system. Not long ago, digital currencies have started to be introduced and in continuation of this, governments of various countries have introduced CBDC as a digital form of fiat and this system is gradually expanding. If sufficient infrastructure is provided at the government and private levels, then it is possible for a country to completely introduce a cashless system.

[Danica22]

I think even in first world countries, cash won't be gone. They'd care for the elderly or people who are used to do transactions with cash. While it's very futuristic that we use cashless, bitcoin and other digital payment systems. It won't be completely removed when there are also people who are inadept with the innovation that we're having in regards to the payments that are being done through digital and it's still a good alternative system to have the cash for some downtime that can occur.

It’s highly unlikely that cash will ever completely disappear, because in my opinion there will always be transactions that require cash even if it depends on the seller but that seems to be the reality, so there will always be people who only accept cash payments.
Actually, there are businesses that only accept cash payments, but as time goes on, non cash payments may become available as well, and that depends on the business owner. But in my country the businesses that have survived by only offering cash payments up to now are small neighborhood shops usually run by the elderly.

Over time, social evolution has taken place and many old ideas have disappeared. Reading history, it is known that in the past, gold and silver coins were used for transactions and goods and services. The practice of exchanging one product for another was prevalent. Currently, most countries use fiat printed on paper, which has abolished the previous system. Not long ago, digital currencies have started to be introduced and in continuation of this, governments of various countries have introduced CBDC as a digital form of fiat and this system is gradually expanding. If sufficient infrastructure is provided at the government and private levels, then it is possible for a country to completely introduce a cashless system.

But as mentioned earlier, even if a government manages to implement and adopt a cashless payment system nationwide. Cash will not disappear completely either and will still exist to some extent.

Everything has drawbacks, and digital payment systems are no exception. Technical failures, cyberattacks, or power outages can render them useless instantly. Government understand this better than anyone and need a backup solution. So they would never let cash disappear completely.

[Jatiluhung]

And that's why the future will be a dark one. Because such mindset (where people don't care about their privacy) will bring an era of totalitarianism. CBDCs are only the beginning. This, combined with AI and Quantum Computing, will give governments more power over the people.

I certainly don't want to live in a cashless world. Who cares about convenience, when your whole life will be under the scope and direction of the government? People don't see it now, but they will in the future. It will be already too late when they've realized how far governments have gone. Bitcoin promises decentralization, freedom, and privacy (sort of). Despite the benefits, governments will have a final say on how things are done. They will dictate the rules of game, just like they've been doing now. But even worse. May God have mercy on our souls.

When it comes to privacy, whether you care about it or not, it’s ultimately difficult to maintain it. Nowadays, almost everything requires KYC. Holding assets in Bitcoin may still be considered one of the few remaining freedoms today. But eventually, everything will be centralized, perhaps turned into an ETF or something similar.

But regarding privacy in the future and the idea of humans being under government control, it will actually be far more than we can imagine.

For example, do you know about Neuralink?
Well, in the future, we’ll be able to control features like those on phones and PCs just with our minds. One day, everyone will be implanted with a small chip that will act as a tool to read neural signals and translate them or something like that. I don’t fully understand it yet.

I used to think of it as science fiction. But I didn’t expect it to actually be in development. And that means in the future, it won’t just be our personal identities that are at stake the contents of our minds might even be readable.
On one hand, I’m amazed by technological progress. But on the other hand, there’s a sense of fear. But maybe that won’t happen in our generation.

Reference:
- https://pmc.ncbi.nlm.nih.gov/articles/PMC11076062/
- https://neuralink.com/