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Old 05-15-2017, 10:37 PM   #1
JimmyB
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Default Cashless society

Just a question for the Canadians.Do you really want to go cashless..
Personally I think it gives governments too much power..
http://investmentwatchblog.com/canad...r-enslavement/
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Old 05-16-2017, 08:41 AM   #2
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A cashless society will be the best thing to ever happen for every sort of black market.

Better than Prohibition or the War on Drugs.
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Old 05-16-2017, 08:59 AM   #3
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If your money’s in the bank, it’s not yours, it’s the bank’s. If your money always goes through the banks via digital transaction and you never hold it in your hand, it’s never yours, it’s ALWAYS the bank’s.
Where are these clueless people living ? Are they sleeping on their stack of banknotes every night ?

I only spend %10 of my salary as cash, rest goes digital. What is the value of paper money if there is no government or worse a high inflation to destroy its value.

Go Canada ..
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Old 05-16-2017, 01:22 PM   #4
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Originally Posted by Oric View Post
What is the value of paper money if there is no government or worse a high inflation to destroy its value.

Go Canada ..
You're conflating money and currency to support your position. That makes you a good slave.

Currency is primarily a medium of exchange and a unit of account.
Money is both those things (and more) but it is also a store of value.

Currency, backed by a central bank at the blessing of a government is worthless. Where do you think rapid and high inflation comes from? Excess digital printing among other things.

I'm sure the fine people of Cyprus would have differing opinion than the one you offered.
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Old 05-16-2017, 02:30 PM   #5
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I grew up and worked in a hyper inflation country so I don't have to ask Cypriots.

Digitisation of money is no different then the digitisation of anything else, like your photographs. Let's not be romantic Luddites
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Old 05-16-2017, 02:52 PM   #6
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Digitisation of money is no different then the digitisation of anything else, like your photographs. Let's not be romantic Luddites
I am still not up to speed on Bitcoin. Philosophically, I like the idea. But, I get nervous when someone claims something in unhackable. Yes, my bank can get hacked, but if that happens they have to pay me back. With Bitcoin, there is no one to pay you back; it is just gone.
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Old 05-16-2017, 02:59 PM   #7
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You're talking at cross-purposes with each other.

90+% of all financial transactions can be and already are (in the technologically advanced nations) digitized.

It's the remaining 10% that makes all the difference.

Money is not only a medium of exchange it's also a unit of information.

Where, what, and when you exchange your money for... whatever... is highly valuable to not only yourself, but perhaps other parties as well. Most especially if they also have the power to block and/or seize the money or goods.

It's about control plain and simple.
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Last edited by A.T. Hagan; 05-16-2017 at 09:38 PM.
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Old 05-16-2017, 11:11 PM   #8
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Yes I give coins to the street vendor who sells Simit and to the asshole taxi drivers who refuse to use pos terminals. Where is the valuable information in that ? If you say that my actions are traced, it is done via my mobile phone already, we are either in the system or completely out of it, trying to live in 70'ies style.

If some major force likes to go against me, having access to some cash will help me how ? Please give me a scenario.
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Old 05-16-2017, 11:31 PM   #9
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https://www.theguardian.com/money/co...ld-contactless

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Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance


---------- Post added at 08:31 PM ---------- Previous post was at 08:27 PM ----------

There will always be a "cashless" society, regardless if money exchanges hands. Barter is alive and well.
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Old 05-16-2017, 11:57 PM   #10
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I read the article, talks about the potential dangers but not the life case scenario. The mobile phone vs landline analogy is funny, landlines needed investment in copper and infrastructure, not bank accounts, not to mention ability to call anywhere vs only from your house. They make these fellows article writers in newspapers. Peh !
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Old 05-17-2017, 08:20 AM   #11
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Where are these clueless people living ? Are they sleeping on their stack of banknotes every night ?

I only spend %10 of my salary as cash, rest goes digital. What is the value of paper money if there is no government or worse a high inflation to destroy its value.

Go Canada ..
When digital goes down or gets hacked as in recent days you enjoy that which is unobtainable by you and others..No it could never happen...
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Old 05-17-2017, 08:47 AM   #12
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Possible but there are lots of -offline- digital payment methods like prepaids which do not require online verification. If we are talking about the endangered 10% transaction with paper money, this argument holds.
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