Are we heading toward a cashless future?

[DrBeer]

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I’ll answer your question-try transferring cash, in your local currency, to another recipient, or as payment for goods on an online platform outside your country, using cash, and all your questions will be answered on their own. Could you explain how you would carry out such a transaction? It would be interesting to learn the details, including fees and the speed of the transaction itself.

I didnt say that cashless transactions dont have their advantages, especially for online payments.  Of course you cant push paper money through a fiber-optic cable.  But traditional cashless transactions have always involved third parties, which is exactly their fatal flaw.  The second a bank or a payment processor steps between you and the person you are paying, they gain total control.  They can freeze your account because of a "suspicious" automated flag, block your transaction because they do not like who you are dealing with, and skim their 3% cut off the top just for acting as a glorified accountant.  So I will ask again, How is a cashless transactions system more economical? 

This is the main reason why P2P transaction systems, like Bitcoin, were invented.  Hell, the creator himself titled the Bitcoin whitepaper: "A Peer-to-Peer Electronic Cash System"

I completely agree with you that in non-cash transactions within the fiat model, there is always an intermediary-whether a bank or a payment system. This is a characteristic of centralized systems, where all these services are regulated, licensed, and monitored.
The alternative is P2P systems, such as cryptocurrencies, for example. But as you understand, the centralized financial, banking, and financial systems will never allow decentralized cryptocurrencies to replace this system.

[Stalker22]

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I’ll answer your question-try transferring cash, in your local currency, to another recipient, or as payment for goods on an online platform outside your country, using cash, and all your questions will be answered on their own. Could you explain how you would carry out such a transaction? It would be interesting to learn the details, including fees and the speed of the transaction itself.

I didnt say that cashless transactions dont have their advantages, especially for online payments.  Of course you cant push paper money through a fiber-optic cable.  But traditional cashless transactions have always involved third parties, which is exactly their fatal flaw.  The second a bank or a payment processor steps between you and the person you are paying, they gain total control.  They can freeze your account because of a "suspicious" automated flag, block your transaction because they do not like who you are dealing with, and skim their 3% cut off the top just for acting as a glorified accountant.  So I will ask again, How is a cashless transactions system more economical? 

This is the main reason why P2P transaction systems, like Bitcoin, were invented.  Hell, the creator himself titled the Bitcoin whitepaper: "A Peer-to-Peer Electronic Cash System"

I completely agree with you that in non-cash transactions within the fiat model, there is always an intermediary-whether a bank or a payment system. This is a characteristic of centralized systems, where all these services are regulated, licensed, and monitored.
The alternative is P2P systems, such as cryptocurrencies, for example. But as you understand, the centralized financial, banking, and financial systems will never allow decentralized cryptocurrencies to replace this system.

Absolutely.  This is why I believe pushing back hard on a wholly cashless system, within the fiat system, is vital.  It is the last defense to keep the government from taking total control of the financial aspects of your life.

Cryptocurrency is a great technical alternative, however as you mentioned, they will always try to regulate the on-ramps and off-ramps to suffocate it.  Cash is the direct, tangible, line-in-the-sand for the masses.  Once thats gone, the trap snaps shut, and true financial privacy dies with it, forever.

[DrBeer]

~

I’ll answer your question-try transferring cash, in your local currency, to another recipient, or as payment for goods on an online platform outside your country, using cash, and all your questions will be answered on their own. Could you explain how you would carry out such a transaction? It would be interesting to learn the details, including fees and the speed of the transaction itself.

I didnt say that cashless transactions dont have their advantages, especially for online payments.  Of course you cant push paper money through a fiber-optic cable.  But traditional cashless transactions have always involved third parties, which is exactly their fatal flaw.  The second a bank or a payment processor steps between you and the person you are paying, they gain total control.  They can freeze your account because of a "suspicious" automated flag, block your transaction because they do not like who you are dealing with, and skim their 3% cut off the top just for acting as a glorified accountant.  So I will ask again, How is a cashless transactions system more economical? 

This is the main reason why P2P transaction systems, like Bitcoin, were invented.  Hell, the creator himself titled the Bitcoin whitepaper: "A Peer-to-Peer Electronic Cash System"

I completely agree with you that in non-cash transactions within the fiat model, there is always an intermediary-whether a bank or a payment system. This is a characteristic of centralized systems, where all these services are regulated, licensed, and monitored.
The alternative is P2P systems, such as cryptocurrencies, for example. But as you understand, the centralized financial, banking, and financial systems will never allow decentralized cryptocurrencies to replace this system.

Absolutely.  This is why I believe pushing back hard on a wholly cashless system, within the fiat system, is vital.  It is the last defense to keep the government from taking total control of the financial aspects of your life.

Cryptocurrency is a great technical alternative, however as you mentioned, they will always try to regulate the on-ramps and off-ramps to suffocate it.  Cash is the direct, tangible, line-in-the-sand for the masses.  Once thats gone, the trap snaps shut, and true financial privacy dies with it, forever.

Yes, from a technological standpoint, blockchain offers a vast array of innovations and advantages for USERS! But this is unacceptable to CENTRALIZED authorities and the CENTRALIZED financial system. And when those in power are faced with a choice between the convenience of citizens, on the one hand, and "preserving the survival" of the government and its financial system, on the other, the government’s choice is obvious!

[Taricoins]

Absolutely.  This is why I believe pushing back hard on a wholly cashless system, within the fiat system, is vital.  It is the last defense to keep the government from taking total control of the financial aspects of your life.

Cryptocurrency is a great technical alternative, however as you mentioned, they will always try to regulate the on-ramps and off-ramps to suffocate it.  Cash is the direct, tangible, line-in-the-sand for the masses.  Once thats gone, the trap snaps shut, and true financial privacy dies with it, forever.

I don't know how we all think we have financial privacy when mostly all income are being generated through cashless media. Unless earn money through cashless means.

Funny thing is with how easy, accessible and dynamic a cashless system is I find it hard that pushing it hard will actually lead to a better result as everybody will always push for comfort. I would prefer a solution where this two are balanced for the fiat system.