Cash Is Slowly Dying
- Thread starter bhcg101
- Start date
insightstudio
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- Jan 17, 2018
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Also to note, the amount of money you can pay for goods and services by cash has been reduced year by year (at least in the country where I live).
zionbar
Elite Member
- Apr 6, 2015
- 4,140
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u mean inflation? what else is new?
safeSEOboost
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- Mar 22, 2010
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insightstudio
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- Jan 17, 2018
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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.
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.
Cash will only die when the government decides it is no longer legal tender. Depending on which country you are in, many people still use it and some places don't accept anything but cash. The benefits are:
- Money management, when you physically see the cash you are less willing to hand it over so easily
- Privacy (somewhat), buy goods without companies/governments spying on you trying to promote things to you based on your purchase history
- Access to it at any time, technology can and will fail at some point
- Control, if card transactions become the main form of payment you are at the mercy of the processor/government, they could cut it off at any moment
- For some it's patriotism, cash with unique designs of public and historic figures/moments related to the country or a piece of plastic that is no different to what can be found elsewhere?
Eventually the governments may decide to kill it off but that's more for political reasons than practicality then some form of crytocurrency could become the new cash.
- Money management, when you physically see the cash you are less willing to hand it over so easily
- Privacy (somewhat), buy goods without companies/governments spying on you trying to promote things to you based on your purchase history
- Access to it at any time, technology can and will fail at some point
- Control, if card transactions become the main form of payment you are at the mercy of the processor/government, they could cut it off at any moment
- For some it's patriotism, cash with unique designs of public and historic figures/moments related to the country or a piece of plastic that is no different to what can be found elsewhere?
Eventually the governments may decide to kill it off but that's more for political reasons than practicality then some form of crytocurrency could become the new cash.
- Oct 11, 2018
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How do you think the taxation system keeps the poor and middle class under control?
insightstudio
BANNED
- Jan 17, 2018
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Not only it keeps you poor enough and busy working to pay them, but if you're a lazy-ass and find no job, govt might help you. Imagine if there would be no government, what would happen to incapacitated people? Also, think about the social security.
To end up, richer people don't pay taxes. Not that I am rich, but I always find a way to avoid taxation legally by using debt as a funding source.
Doctor Sleep
Elite Member
- Sep 21, 2016
- 2,467
- 1,742
Cash will never die!
Holdentot_Accfarm
Senior Member
- Feb 7, 2020
- 1,107
- 404
It is. Yet, I believe we are facing huge changes in the money/payment concept in the next 10 years. Who knows whether the dollar will have the place in this upcoming digital revolution.
bhcg101
Senior Member
- Jan 31, 2015
- 1,174
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Nice, that's exactly what I do. If I'm not getting cash back it doesn't feel normal to me.
bhcg101
Senior Member
- Jan 31, 2015
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I don't know that we're quite there yet but I like the illustration.
bhcg101
Senior Member
- Jan 31, 2015
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You're right that we are slaves to the almighty dollar.
Money "untraceable".. conceptually good thought... but the reality is that it's unlikely that this will ever happen.
Taxes: that's never going to go away. We're not allowed to make money without giving some of it back to the government. Just my two cents.
Slavery to money.. it will outlive all of us.
bhcg101
Senior Member
- Jan 31, 2015
- 1,174
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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.
silvi-kucedra
Regular Member
- Jul 1, 2012
- 201
- 283
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.
insightstudio
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- Jan 17, 2018
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I'd look at the numbers out there if I were in you.
bhcg101
Senior Member
- Jan 31, 2015
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Not sure that I believe that it's simply rumors and one should always tread carefully on what may "never" happen. If we've learned anything in life is the reality that when the possibility exists, there's always a chance but whether or not we'll see that in our lifetime, hmmm makes me wonder.. but actual tangible cash always being around ? It's probably not too far outside the realm of truth to think that it may one day be replaced.