Cash Is Slowly Dying

[insightstudio]

Stop spreading bullshit and educate yourself on why taxation exists. The statement "only the rich can avoid taxes" is pure nonsense, the system is fair for everyone. YES, everyone can avoid paying taxes (rich or poor), but that means working 100x harder than most average people and providing actual value to the world, not watching netflix all day long while pretending to work in the office.

I have never stated "only the rich can avoid paying taxes", so stop mixing up your bullshit, man.

Substantially everyone can avoid paying taxes if educated.

Seriously, look out there. People get educated in a way that makes it easy to keep everything under control. Poor people are poor because of their education, and that is exactly what the men in black want.

Honestly, you're kind of a rude and dumb person here.

 

[SOCOM]

The issue with a cashless society is that you cannot take your money out of the bank if shit hits the fan.

 

[coolbreez]

Good point on the reality that as long as the government sees it as legal tender it will always be here. One can only wonder what would things truly look like if money weren't here in it's current form or not at all.

Humans are amazing at adapting. The whole concept of cash was to be an easier way to trade gold so it represented the value of gold. Where there's a need, something will meet that need. We could very much end up doing the full circle where trading items becomes commonplace again as it was before currencies became a mainstay.

 

[insightstudio]

We could very much end up doing the full circle where trading items becomes commonplace again as it was before currencies became a mainstay.

That keeps me up at night I won't deny

 

[starcity83]

The cashless society is coming fast, it's all part of the one world government elitist plan. No more counterfeit bills, drug, drug, gang, cartel, gambling, or vice money. Every transaction will soon be tracked and traceable electronically.

 

[bhcg101]

Humans are amazing at adapting. The whole concept of cash was to be an easier way to trade gold so it represented the value of gold. Where there's a need, something will meet that need. We could very much end up doing the full circle where trading items becomes commonplace again as it was before currencies became a mainstay.

Now that would be something to see, but as they say.. things that were old usually find a way of becoming relevant once again.

 

[bhcg101]

The issue with a cashless society is that you cannot take your money out of the bank if shit hits the fan.

Great point.

 

[silvi-kucedra]

Seriously, look out there. People get educated in a way that makes it easy to keep everything under control. Poor people are poor because of their education, and that is exactly what the men in black want.

Honestly, you're kind of a rude and dumb person here.

Poor people are poor because they chose it that way. The "men in black", government or whatever you wanna call them, owe nothing to anyone, except providing a system which is fair enough and gives opportunity to everyone to climb the ranks. If you can't climb, stop bitching and start learning.

 

[SEOzack]

I can see it happening.

I will be honest, I prefer being cashless.

I cannot remember the last time I carried any real amount of cash. The only two times I need cash are when I get a hair cut or if I go to a take away which only accepts cash.

Both of them two times are rare, considering I cut my own hair most of the time.

I am more than happy using my phone to buy and do everything.

Fuck carrying cash or change. Just doesn't suit my 'on the go', yuppy style living.

 

[DunderMannen]

I'm curious to see where financial revolution goes.

If people mass adopts Bitcoin before a restrictive law kicks in (which is already being discussed), then a revolution could happen. The government wants you to pay taxes, and we are their slaves at the time being - or at least the vast majority of the population are. This has to end one day or another, and there are only two ways:

a) Make money untraceable
b) Everyone stands up and makes the govt. collapse

I mean the taxation system is somewhat a really smart way to keep the low / mid-class people under control. Some people get really good benefits in life (like social security) just because somebody else pays for taxes.

We are NOT free to decide whether to pay taxes or not - and this is really bad. The best would be to offer freedom of choice: you pay taxes, you get a benefit. You don't? You're out of the deal.

I'm sad that I will die and slavery will probably still be around.

So you actually think the world would work if you cold choose whether or not to pay taxes? You do realize if there were no taxes, everything would be privatized. Everything would be made for-profit.

Who would pay for traffic lights? Who would pay for the road's maintenance? Who would pay for building highways?
The answer to all of the above is a private company, which means you would have to pay everytime using the roads, even when just walking on the sidewalk you know?

I hope you realize this sounds a lot worse than everyone having to pay taxes...

And that's just bringing up a very, very tiny percentage of everything that would be fucked up in the world without taxes. Security? Police? Ambulances? Firefighters? You would have to pay for all those things out of pocket.

 

[social engineer]

Depends where you are in the world, In the UK cash is being pushed more out of the picture more and more.

Look at the £50 note a lot of shops won't accept it and its got an association with crime, money laundering and tax avoidance. Cashless and more so contactless is being pushed more and more because of Covid but removing cash from society will impact the poor the most. What do you do if you're credit rating is so poor that you can't open a bankaccount in the UK. When this shitstorm hit wirecard the poorest were most effective as a lot were using pocket and having their benefits paid into pocket (Which then got locked because of the FCA).

I love cash as it's got a psychological effect of actually having to pass it over so you are more careful with money.

Now compare that to Cambodia (Man I miss the sheer freedom you get there.) and I saw people paying approximately half a million dollars into a bank account the guy was getting irrate because it was taking the bank tellers so long to count the cash. Some house and property sales are actually done in cash!

 

[homeriscool]

use cash wherever you can.

Without cash, the banks will have complete control over you.

I withdraw cash and use it everywere.

Sure, I could use my card.....or phone......it's easier.

(but thats what the banks want you to do so you fall into their trap)

If you don't do it for yourself do it for your kids or future kids.

There the ones who will have to struggle through life with no cash.

 

[SEOREAPER]

When physical cash dies, privacy and freedom die. MARK MY WORDS.

 

[silvi-kucedra]

use cash wherever you can.

Without cash, the banks will have complete control over you.

I withdraw cash and use it everywere.

Sure, I could use my card.....or phone......it's easier.

(but thats what the banks want you to do)

LOL, the banks already have complete control over you whether you use cash or digital coins.

 

[homeriscool]

LOL, the banks already have complete control over you whether you use cash or digital coins.

While I have cash, they don't.

They do in a lot of ways yes.

Try and buy food if your card is rejected and you cant pay on your phone.

Cash will always be king.

 

[t2van]

I'm curious to see where financial revolution goes.

If people mass adopts Bitcoin before a restrictive law kicks in (which is already being discussed), then a revolution could happen. The government wants you to pay taxes, and we are their slaves at the time being - or at least the vast majority of the population are. This has to end one day or another, and there are only two ways:

a) Make money untraceable
b) Everyone stands up and makes the govt. collapse

I mean the taxation system is somewhat a really smart way to keep the low / mid-class people under control. Some people get really good benefits in life (like social security) just because somebody else pays for taxes.

We are NOT free to decide whether to pay taxes or not - and this is really bad. The best would be to offer freedom of choice: you pay taxes, you get a benefit. You don't? You're out of the deal.

I'm sad that I will die and slavery will probably still be around.

Jebus..

Unless sociticy moves to some kind of utopia there will always be a "tax" as services still need to be covered. There are 1000s of people who don't pay tax now and still get something out of it. It's call the benefit system (uk anyway) what would you suppose happen to them in your system?

Or what if you had a job, but then you loose your job and you can't pay taxes no more OR worse can't get another job? What happens then?

Kill them off? Or just not pay them? ... Human Rights much..

The idea of "tax" is a novel one but will never happen unless you want to go and join Star Trek. It will never change not in my life time, my kids, their kids or even theirs it will take time. Even if mass automation comes in WHICH I think is when tax laws and even "wages" and "money" as we know it will change that is still going to take years due to resistance.

Digital transactions with "money" is on the rise as younger people use phones and contact less payment to pay for things and the cash generation is dying off. NOT to mention look how much contactless or card payment has been pushed since and still during COVID vs cash as it's considered safer.

I don't think crypto will change anything as there are generations coming up who are already pretty much cashless so you have your digital currency there still the same old FIAT as we have now. Crypto might pay a part in speeding up international payments but as for it bringing down a government .. nope.

Money is already to a degree untraceable business and people all over the world move money around (legal and not legal) all the time it's easy to hide.

I doubt anyone is going to vote for making things untraceable when 95% of the population have no f*cking clue what privacy they give away on a daily basis due to a click of an app or accepting terms and conditions. Where everything is so public - why would there become anymore of a switch?

As for people calling for governments to change and "standing up" to them THERE might be a change in our life time in how we have a say with governments but that will be as a result of some kind of civil war or a world war (tin foil hat, one has to happen at some point) for a bit of a reset on how we deal with things.

Governments as we know them are broken anyway, even in countries where you are allowed to "vote" that is all just a basic form of compliance from the people we all vote BUT at the end of the day does our vote really matter? Does it really count towards anything?

I didn't pick the person my party elected, if he or she step down I don't pick the next person either that's all done internally all I done is vote for a party. I don't really know the numbers I don't really know if they won. But I put a tick in the box and I should be happy.

Taxes & Governments are here to stay for years to come that won't change.

Will crypto make some kind of change - maybe for transaction handing but I think that will be it. I see blockchain becoming the digital replacement of the barcode as well as other applications.

As for slavery.

This as long as a business or "man" can make money there will always be a penny to be squeezed or time to be made either by making someone working over time to catch up or launch a product / service, giving up the weekend or just getting the cheapest version made while increasing profits.

However you want to look at it, as long as there is a service or product to be sold slavery in some form or another will always be around.

What's important though is to learn from past mistakes and not try to repeat them rather than saying sorry for them and trying to erase them. - not to get political sorry mods.

 

[bartosimpsonio]

I hadn't thought about it, but I guess that is the trend that we are heading towards. Any other thoughts on this ?
Source: CNN

If cash dies, we'll be 100% dependent on the payment systems.

If they go down for some technical reason, everything halts.

What happens if there's a blackout or some shit like that? Can't use cash? Everything grinds to a halt.

Not to mention privacy and other more political/libertarian concerns.

 

[silvi-kucedra]

While I have cash, they don't.

They do in a lot of ways yes.

Try and buy food if your card is rejected and you cant pay on your phone.

Cash will always be king.

All of you guys seriously need some lessons in finance. Do you know what cash represents? Resources. And the amount of resources is finite. Banks already know how much money you have whether you declare them / put them in the bank or not.

Consider the entire pool of resources (cash) as a pie. Banks already control most of the pie. They also know every wealthy individual who controls the rest through businesses. (last time I checked, someone worth $10M+ doesn't keep their cash under the mattress). Banks + wealthy individuals + big business make up more than 90% of the pie.

The rest, the 10%, is distributed among everyone else. Sure, if you don't keep the money in the bank, they might not know whether you have $2000 or $5000, but they know, on average you have $3500. They also have the records of almost everyone else that takes from this 10% of the pie (people get paid a salary via businesses). So, it's not so hard to figure out how much a guy like you has who doesn't declare anything.

Again, they control most of the pie. That is called CONTROL. You, thinking they don't control you, is an illusion. Changing from cash to digital currency doesn't change the size of the pie or who owns most of it. It just changes how you keep score of the pie size.
50 years ago, we kept score via gold. Then cash. Now digital.

 

[davids355]

I think it will be around for a very long time. It won't be completely removed from the monetary system. However, I do think that it will become less used as time goes on. Personally I very rarely use cash because it just creates additional stress - firstly you always have to have it with you, then you have to have the right amounts (sometimes) then you always get change back and that means you have to carry the change around in your pocket.

Now that you can pay for stuff using your phone it takes away all of the above problems. Its much easier, all you have to remember is your phone. Less to carry, less to think about, always have a record of your transactions, easy and convinient.

Parking here in the UK is also something that is a pain when you are using cash - similar problems to above - whereas if you pay with your phone or via an app, it takes all of those problems away.

Its basically just one more example of how digital transformation makes things so much more efficient. Thats my personal opinion.

 

[homeriscool]

So, it's not so hard to figure out how much a guy like you has who doesn't declare anything.

I get paid through the bank, what are you on about?

I choose to withdraw cash and use it in the local shops.