Cash Will Be Obsolete Soon

@emiliya

Somehow you're missing the point. The United States has been focused on a cashless society since the late 1980s. Cashless or way to get rid of money.

Computer generated ways of achieving and spending is getting rid of money.

Credit / debit card was the first steps towards cashless society and most people use them now. _ cashless

You have to have a bank account for direct deposit in the majority of employment and government payments _ cashless.
https://www.chicagotribune.com/1990/11/18/the-ticket-to-a-cashless-society-is-made-of-plastic/

https://www.nytimes.com/1991/01/13/opinion/l-why-a-cashless-society-wouldn-t-work-719091.html

Car washes & laundromats are requiring you to use passcodes what you must purchase online or your cell phone to use their machinery _ cashless.

Self-service checkouts the majority are credit card only in most businesses _ cashless.

[media=https://youtu.be/AWH2F5XknVk?feature=shared]

[media=https://youtu.be/cuAz5FKjnDA?feature=shared]

Cryptocurrency and all its forms leads the way to a cashless society. President Biden has already started looking into it - Trump is looking into it.

Central Banks and digital currency is government issued and it is just like cryptocurrency just a different name.
https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp

@SDavis Until cryptocurrency is no longer used as a product to sell, it is not going to be used as a primary currency. Can you tell me if cryptocurrency is close to not being a product to sell? It is an investment more than a currency. You buy cryptocurrency, and if you don't use it, you sell it to some fool and try to make a profit. The majority of businesses do not accept crypto.

I understand what the second video is saying in relation to CBDC. I can see why governments would try to incorporate cryptocurrency in banks and use it to their advantage.

Nigeria's eNaira has not been a success. Fewer than 0.5% of Nigerians are using it. If this did have success somewhere, it would cease to be crypto. It would be money replacing money, with nothing secretive or hidden about it. You also wouldn't be selling it. It would have the same value as cash. It would be regulated like cash. What is the difference? Crypto is supposed to be hidden, hence its name.

@emiliya I am sorry. You are simply and absolutely wrong. But it isnt your fault. Currency, be it fiat, crypto or gold sovereigns is not a "Product" These are all means of exchange of value. I trade a hour of my labor for so many eggs and bottles of milk using this means of exchange. You can claim the gold is worth something. But that is expressed in the daily price of gold. Its a symbol of value that has little value itself except what we believe it has.
But some smart dude in Wall Street decided money was a "Commodity" to be sold and that started a stampede of ways to package income streets and "create" money. But its all an illusion. None of it will build a house or feed a child except on the "promise" of it. The same can be said for the $US. It has value because the government says it does. and because a lot of other currencies are in a worse value position. But it is no longer backed by gold like it used to be. Its backed on a promise from the govt. How good is the US governments promise??😷

@whowasthatmaskedman
“You can claim the gold is worth something. But that is expressed in the daily price of gold. Its a symbol of value that has little value itself except what we believe it has.”

I am not talking about that. You are right, but it isn't relevant. A person who has a cryptocurrency and is looking to sell it is going to treat it like a product.

“But some smart dude in Wall Street decided money was a "Commodity" to be sold and that started a stampede of ways to package income streets and "create" money. But its all an illusion. None of it will build a house or feed a child except on the "promise" of it. The same can be said for the $US. It has value because the government says it does. and because a lot of other currencies are in a worse value position.”

Money has been a commodity for thousands of years. The Anatolian Lydians were the first to make coins to be used as money. It has been around for too long in too many places for us to be concerned about Wall Street.

@emiliya Sorry. You are not getting it. (Dont worry. You are not alone.) Money is a made up symbolic construct. I can tell you I have six fairies in a jar and as long as you and I believe in fairies we can trade them back and forth for anything. That makes them useful and valuable to us and any other believers. But it doesnt make fairies real. So I cant go and create, print or otherwise make more fairies. Nor can I use them to trade with anyone who doesnt believe in fairies. Is that clearer??😷

@whowasthatmaskedman If you want to sell the fairies to me to make money, what are they to you?

@emiliya I am not selling them to you. I am using something imaginary to pay for something from you. Apples. Eggs or giving me a haircut. As long as you accept them as payment//😷

@whowasthatmaskedman South Africa says the fairies are a financial product. This means they are regulated over there. I say unless it is a foreign currency that can be exchanged into another one, that you can grasp in your hands, it is a product to sell to a foolish person. You sell it so you can get real money. You are making them think they have a real asset when they don't.

@emiliya Crypto will always be a high risk proposition. Thats part of why the black economy embraced it for drug deals and arms shipments😷.