Will we be forced into a cashless society?

[L Ron Cupboard]

I suppose there are savings for banks and governments, and potential profits for some companies, if we move to a cashless society. There may be benefits for society, but no doubt some people would be disadvantaged by such a move. I am sure people here can come up with a number of other benefits or problems. Personally I think it is inevitable that we move in that direction, and I suppose I would adjust to it without to much problem, though I would be slightly paranoid about the surveillance potential.

[Ashmoria]

no I don't think we'll be forced into it but I do like not having to use cash or paper checks.

[Washington Resistance Army]

Probably not anytime in the near future, if ever really. Hell I almost never use my card unless it's online, I'm still old fashioned and pay everything in cash

[Romalae]

Gotta do a cost-benefit analysis. Sure, it might lead to a greater degree of monetary surveillance, but at least digital money isn't caked in fecal matter, cocaine, and stripper oil.

[Great Nepal]

In the long run, absolutely - we are already seeing move towards cashless with development of contactless although in near future I dont see it happening - use of cash will reduce and large chains might stop accepting cash because the handling costs just isn't worth it but smaller shops (especially pop-up stalls) can't afford to be too choosy so I think they will continue trading in cash for quite some time.
Definitely a good thing though, in such a society you would always leave a paper trail - criminal activity would probably decrease and I am not too concerned about privacy in this aspects, more worried about unwarranted access to emails or things like that, they would only know who you paid x amount to and when - I have no problem with that.

[Occupied Deutschland]

Gotta do a cost-benefit analysis. Sure, it might lead to a greater degree of monetary surveillance, but at least digital money isn't caked in fecal matter, cocaine, and stripper oil.

You say this as if it's somehow a GOOD thing?
I prefer my money caked in cocaine and stripper oil, sir. The fecal matter is a more than acceptable byproduct.

I've never understood the attraction of debit cards or checks being used for anything other than paying bills that come in the mail. Always much-preferred cash myself, and I don't think we're going to be forced into a cash-free society anytime soon. Even then, it seems hard to imagine it becoming some kind of mandate as opposed to using non-cash forms of payment becoming so convenient most people opt for it.

[Braberbourg]

I don't think we will, it will probably go too far for many people considering it's an invasion of their privacy, and besides that if anything goes wrong in a bank's system we'll see economies crash down in mere seconds.

[Great Nepal]

Gotta do a cost-benefit analysis. Sure, it might lead to a greater degree of monetary surveillance, but at least digital money isn't caked in fecal matter, cocaine, and stripper oil.

You say this as if it's somehow a GOOD thing?
I prefer my money caked in cocaine and stripper oil, sir. The fecal matter is a more than acceptable byproduct.

I've never understood the attraction of debit cards or checks being used for anything other than paying bills that come in the mail. Always much-preferred cash myself, and I don't think we're going to be forced into a cash-free society anytime soon. Even then, it seems hard to imagine it becoming some kind of mandate as opposed to using non-cash forms of payment becoming so convenient most people opt for it.

No one would legislate against it, as people gradually stop using cash - you would just get places that dont take cash (reducing cash handling costs) and eventually no one would print money because thats well waste of money.

[AiliailiA]

Personally I use cash as much as possible. I don't give away information for nothing. If the retailer wants information which only I can provide ... they should offer me a discount.

[L Ron Cupboard]

In the long run, absolutely - we are already seeing move towards cashless with development of contactless although in near future I dont see it happening - use of cash will reduce and large chains might stop accepting cash because the handling costs just isn't worth it but smaller shops (especially pop-up stalls) can't afford to be too choosy so I think they will continue trading in cash for quite some time.

That is pretty much how I would see it coming about, it would start with chains like supermarkets and fast food retailers. Combined with a move to online shopping for lots of things as well. At some point I suspect it would be banks making the choice, if some of them stop wanting to handle cash.

[Great Nepal]

In the long run, absolutely - we are already seeing move towards cashless with development of contactless although in near future I dont see it happening - use of cash will reduce and large chains might stop accepting cash because the handling costs just isn't worth it but smaller shops (especially pop-up stalls) can't afford to be too choosy so I think they will continue trading in cash for quite some time.

That is pretty much how I would see it coming about, it would start with chains like supermarkets and fast food retailers. Combined with a move to online shopping for lots of things as well. At some point I suspect it would be banks making the choice, if some of them stop wanting to handle cash.

Yeah that makes sense to me, although I think it will be the other way round with banks - large banks wont want to loose their long standing customers whilst smaller specialized ones will open up to cater for customers not using cash and offering better rates to compensate for their reduced costs. Eventually central bank decides its stupid to print money and anyone still using cash will be forced into it as notes deteriorates and isn't replaced.

[The Liberated Territories]

Cashless, maybe. Moneyless, no. Personally I think having some hard currency is more beneficial than digital money and credit, as it provides a means to fall back upon.

[The Blaatschapen]

That is pretty much how I would see it coming about, it would start with chains like supermarkets and fast food retailers. Combined with a move to online shopping for lots of things as well. At some point I suspect it would be banks making the choice, if some of them stop wanting to handle cash.

Yeah that makes sense to me, although I think it will be the other way round with banks - large banks wont want to loose their long standing customers whilst smaller specialized ones will open up to cater for customers not using cash and offering better rates to compensate for their reduced costs. Eventually central bank decides its stupid to print money and anyone still using cash will be forced into it as notes deteriorates and isn't replaced.

Someone would start making notes and back them up with their own digital money.

If there is a need, a market will form *shrugs*

[Ethel mermania]

The feds would prefer Cashless. That way EVERY monetary transaction wI'll have a paper trail.

[Teemant]

I think nobody is forced into a cashless society because people prefer to use bank cards instead of cash themselves. It's more convenient and no cents.

[New DeCapito]

A cashless society is naturally flawed, because credit cards can be tracked and bank accounts can be hacked. If I had the means I'd prefer to keep my money in a tangible form, where I know it's safe.

[Teemant]

A cashless society is naturally flawed, because credit cards can be tracked and bank accounts can be hacked. If I had the means I'd prefer to keep my money in a tangible form, where I know it's safe.

How can you hack a bank account? I don't think it is something that happens often.

[Sebastianbourg]

A cashless society is naturally flawed, because credit cards can be tracked and bank accounts can be hacked. If I had the means I'd prefer to keep my money in a tangible form, where I know it's safe.

Cash can also be stolen.

[Big Jim P]

The feds would prefer Cashless. That way EVERY monetary transaction wI'll have a paper trail.

Which is precisely why certain (illegal) businesses are cash-only.

It is also the reason I make certain purchases (legal of course) with cash. Some things are no one elses (especially the governments) business.

[Pope Joan]

We have seen that it is much easier to rob people electronically than it is physically.

Look at all those who have had their accounts hacked.

So, of course, I see every reason to believe that government and business would collude in this change, in order to rip us off.

[Big Jim P]

We have seen that it is much easier to rob people electronically than it is physically.

Look at all those who have had their accounts hacked.

So, of course, I see every reason to believe that government and business would collude in this change, in order to rip us off.

The more abstract the currency becomes, the easier it is.

[Teemant]

The feds would prefer Cashless. That way EVERY monetary transaction wI'll have a paper trail.

Which is precisely why certain (illegal) businesses are cash-only.

It is also the reason I make certain purchases (legal of course) with cash. Some things are no one elses (especially the governments) business.

I don't think it possible to see what was bought from store when paid with card (not credit card). I think it just possible to see how much money was spent.

[Big Jim P]

Which is precisely why certain (illegal) businesses are cash-only.

It is also the reason I make certain purchases (legal of course) with cash. Some things are no one elses (especially the governments) business.

I don't think it possible to see what was bought from store when paid with card (not credit card). I think it just possible to see how much money was spent.

Combine the card info with the inventory info from the UPC scan and there you have it.

[Pope Joan]

What about the cash economy around here, where guys do odd jobs and take a discount because the transaction is in cash? I don't ask why they don't want to be paid by check, and they don't tell. But honestly, unemployment is an issue around here, and this sort of work helps sustain our local economy.

It's like a low-level rebellion against the system.

[New DeCapito]

Which is precisely why certain (illegal) businesses are cash-only.

It is also the reason I make certain purchases (legal of course) with cash. Some things are no one elses (especially the governments) business.

I don't think it possible to see what was bought from store when paid with card (not credit card). I think it just possible to see how much money was spent.

I imagine that it would be easy to create such a program that tracks a card number, along with purchases, and then sends the info to the government. All you'd have to do then would be to make that program mandatory on card readers.
(I naturally distrust the government)