A world without cash ?

[HLS]

It’s been nearly 300 years since paper money became accepted as legal tender. While much has changed about how we make, sell, and buy goods, cash has stuck around. It’s been only recently that the road to a wider cashless society has started to really take shape.

From apps such as PayPal, Venmo, or Square Cash to mobile payment platforms like Kenya’s mPesa, Bangladesh’s bKash, or Apple Pay, there are signs that cash is following the path of other “information goods,” such as printed photographs, cassette tapes, and DVDs in being replaced by digital alternatives.

https://hbr.org/2016/05/the-countries-that-would-profit-most-from-a-cashless-world

[spdrun]

Translation: assholist propaganda for a total control and surveillance state. Personally, I hope North Korea EMPs the world and we’re kicked back to the Stone Age before that happens.

[scaredyclassic]

I think high value coinage could make a comeback. what about a, $100 silver coin?

need new cash products. paper is dull

[guitar187]

Bitcoin or Ethereum will change the game completely

[svelte]

[quote=HLS]It’s been nearly 300 years since paper money became accepted as legal tender. While much has changed about how we make, sell, and buy goods, cash has stuck around. It’s been only recently that the road to a wider cashless society has started to really take shape.

From apps such as PayPal, Venmo, or Square Cash to mobile payment platforms like Kenya’s mPesa, Bangladesh’s bKash, or Apple Pay, there are signs that cash is following the path of other “information goods,” such as printed photographs, cassette tapes, and DVDs in being replaced by digital alternatives.
[/quote]

I just went about 2 weeks without cash – finally had to visit an ATM last night though.

I think that’s a record for me as an adult – 2 weeks. As I stood at the ATM machine, I too wondered how much longer cash would be around.

[moneymaker]

I try to use credit cards when possible, makes returns easier and is more sanitary. If it is less than $20 I might use cash. Just yesterday I used credit card with chip and wasn’t forced to make my x. That was getting annoying having to make my mark everywhere. There are still times when cash is easier like the barber shop or fair.

[spdrun]

Returns are easier with cash. You get cash on in hand immediately, don’t have to worry they fucked up your crap card refund.

[moneymaker]

True if you have the receipt. At Costco receipt is not necessary when purchased on credit card. With cash it is always a good idea to keep item and receipt separate in case item is stolen from vehicle, with cc don’t have to worry about that.

[phaster]

money (i.e. “cash”) is:

1) a store of value
2) unit of account, that is, provide a common base for prices
3) medium of exchange, something that people can use to buy and sell from one another

http://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm

what physical “cash” does is allow individuals w/out access to technology a way to participate in the global economy

picture being stuck in the middle of a jungle w/out a smart phone, then physical *CASH* is the only option that works…

one other down side to “a world without cash” is it will make NEGATIVE INTEREST RATES the norm!

as it stands cash/money can escape from regions like japan (which has a negative interest rate)

http://www.wsj.com/articles/japans-negative-rate-experiment-is-floundering-1460644639

to regions like the USA (which has an interest rate which is positive)

http://www.bankrate.com/finance/mortgages/current-interest-rates.aspx

now imagine that “money” is now only digital (so that central banks and governments can access ALL THE TIME), if this was the case the powers that be could NUDGE people to spend their hard earned money on stuff they might not need/want by devaluing digital curency (i.e. negative interest rates)

so if the world became “cashless” IMHO there would be lots of unintended consequences

[Reality]

I rarely buy anything with cash these days. It’s almost always with a credit card that earns rewards.

At my golf club we pay our green fees with cash, and Friday I was a little concerned I’d forgot my PIN when getting cash for Saturday’s round. Turns out I hadn’t forgot, but it had been awhile since I’d used the ATM card.

[Reality]

duplicate post

[Hatfield]

I can’t imagine cash ever going away entirely.

[livinincali]

I hope we never get to a cashless society, but I bet the government and financiers would love it. That way they can make sure they get their skim no matter what. They also get to track pretty much everywhere you go and everything you do. I’m sure that data is pretty valuable also.

[Author]

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