How do you feel about living in a cashless society?

this will hurt the poor more so , like we all have money in the bank and can use our debit or credit cards , not always the story and i know what i'm talking about , me still with no cell phone , yes its a struggle to be a have's not in a technology growing society

its going to happen regardless .. the electronic age

I don’t use cash, so no difference.

People are hoarding cash rather than spending it.
The idea is to take the highest denomination of note and refuse to create anymore until those currently out there get back into circulation.

Theoretically creating a market for cash.

This idea is fine until the idiots asking for it realize that sooner or later all this cash will end up in Switzerland where western governments can neither control it nor the dodgy companies that send it there !

The other thing is the money being made in what's known as 'The black economy.'
This refers to folk who do jobs for people unofficially and get paid cash in hand without paying any form of taxation nor national insurance.

On THAT one pick anyone from bar staff to Waiters and Waitresses to part-time cab drivers to babysitters to gardeners to......you get the idea.

If EVERY employer had to REGISTER their staff, they could then pay them in ARREARS into REGISTERED BANK ACCOUNTS and so the government and banks would see every cent you make and (ultimately) REFUSE you certain 'perks' you currently have by virtue of how LITTLE you make ! (credit cards; debit cards; life insurances vehicle insurance; home insurance.....)

It is concerning, makes me wonder if I should invest in cryptocurrency and use that instead of cash. I don't know anything about it though.

many poor people can't live like that , we still need cash to be around

lol, as if they couldn't track and control paper money.

Cash is the only analogue medium in a digital world. Its days are numbered for better or worse.

Potential risks.
Increasing loss of privacy; financial data is hackable.
Inability to prevent hacker fraud; there is no lock that can't be picked.
What happens when a storm destroys power lines and the electricity drops out?
The most disadvantaged, those who have no bank accounts, would have no means of buying food and essentials.

Potential pluses.
Money can carry and transmit Covid and other future viruses.
Paywave or mobile phone payments allow safer hygeine.

Alternatives.
Barter systems are great, but often difficult to create agreements on exchanges.
LETS (Local Exchange Transaction Systems) require someone to bankroll the fundamental asset, or very high levels of trust and cooperation.

Wow i never thought i'd see the day when this started to happen in the US.
They really want cashless in my country as transactions are more trackable and accountable for tax purposes.
But if they actually got rid of cash completely, people who want to use cash would just find something else like casino chips etc.

While a debit card is handy for online purchases, occasionally here the EFTPOS lines have gone down in the supermarkets and if you don't have cash on you when they do, you're left with a trolley full of groceries that you can't pay for. It happened to me only a couple of weeks ago.

You will have to be a "good" citizen or they will stop you from taking the plane or bus. Social contract like in China

My SW bucks might actually be worth something some day?

They have been talking about a cashless society since at least 1995 that I can remember.

How do I feel about it? Bad idea because who wants every last cent of their spending tracked.

how can people redeem cans and bottles
how can people buy weed
how can people cheat the welfare system
??????????????????????????????????????????


OMG

can't do it.

I like Andrew Yang's plan more. Oh wait many other social critics like that stuff and not just...ONE politician

666 is coming

So every penny I make is audited.. will I have the same access to politicians records and the corporations they share my info with. as they do mine?

There is no such thing as cashless. Currency just changes types every few centuries.

I love nuts, especially cashews, walnuts and peanuts. I worry about living in a cashew-less society. It weighs on my mind.

And that is why smart people dont hoard the highest denomination of note. 😷

it won't happen over night , and it will piss off poor people

The next step of our downfall!
😡

I believe it was going that way in Sweden. I went to one shop where I was told only cards were accepted (probably did other electronic methods, but I don't do those generally). However, I think they put the brakes on recently. No doubt someone living there can update me.

F that!!!!!

Cash's value is as much of an illusion as numbers in a back account. It could hurt poor people, though.

Hard pass

Every time I hear cashless society, I think of a post-labor resource based economy without any form of money at all. That excites me, and I'm sad I probably won't live long enough to see one. But then I just realize you mean no paper dollars or coins and I really can't be made to care one way or the other really.

I really wouldn't care. I rarely use cash as it is.