Will we be forced into a cashless society?

[Olthar]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

[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.

Actually, the fact there is always a paper trail means almost everyone could in theory be arrested for crimes or be suspected of them. As a result, I am fervently against a society with digital currency.

How would knowing how much money was spent where at what time make everyone suspect or targets for arrest?

Not to mention hackers will be able to make massive bank.

...they wouldn't because they can't withdraw that stolen money so we can simply track it as soon as alert is raised.

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

...I dont know how to respond to this. You do realise that cards trend to work across national boundaries?

[Olthar]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

...I dont know how to respond to this. You do realise that cards trend to work across national boundaries?

Are you saying you expect immigrants to live here but maintain a bank account in another country? That's utterly absurd.

[Great Nepal]

...I dont know how to respond to this. You do realise that cards trend to work across national boundaries?

Are you saying you expect immigrants to live here but maintain a bank account in another country? That's utterly absurd.

I would imagine that those residing in a country for significant duration will open a local account - not sure about exact mechanisms in US but as far as UK goes you take some sort of address proof and open up a bank account. Presumably its not too distinct in US either, otherwise non-citizens couldn't get employed.

[Olthar]

Are you saying you expect immigrants to live here but maintain a bank account in another country? That's utterly absurd.

I would imagine that those residing in a country for significant duration will open a local account - not sure about exact mechanisms in US but as far as UK goes you take some sort of address proof and open up a bank account. Presumably its not too distinct in US either, otherwise non-citizens couldn't get employed.

Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen.

[Great Nepal]

I would imagine that those residing in a country for significant duration will open a local account - not sure about exact mechanisms in US but as far as UK goes you take some sort of address proof and open up a bank account. Presumably its not too distinct in US either, otherwise non-citizens couldn't get employed.

Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen.

...so how do non-citizens get salary from work in US?

[Russels Orbiting Teapot]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

Nope.

http://www.consumerfinance.gov/askcfpb/ ... umber.html

You are not required to have a social security number to open a checking or savings account. Many banks and credit unions will accept a Taxpayer Identification Number (TIN) instead. You will need to fill out a form with the Internal Revenue Service (IRS) to get a TIN. Some banks and credit unions also accept other forms of identification from foreign citizens.

[Conservative Values]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

Non-citizens can have bank accounts. How do you think foreign exchange students do ... anything? Thousands of dollars under their dorm mattress? You don't need an SSN, most immigrants use a TIN.

Silly comment aside, I don't think we'll go cashless anytime soon. Having worked in a bank, there are way more people out there than you'd think that cash their paycheck on the second and last Friday and keep all their cash at home. I was shocked when I started as a teller. Not old people either, average and even some young folks.

[Olthar]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

Nope.

http://www.consumerfinance.gov/askcfpb/ ... umber.html

You are not required to have a social security number to open a checking or savings account. Many banks and credit unions will accept a Taxpayer Identification Number (TIN) instead. You will need to fill out a form with the Internal Revenue Service (IRS) to get a TIN. Some banks and credit unions also accept other forms of identification from foreign citizens.

Well now I know that article I read was lying.

[Jute]

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.

It certainly would benefit the NSA and companies (especially advertising ones) if we could no longer pay anonymously...

[DnalweN acilbupeR]

OP you're being pretty Western-centric. There are plenty of places in the world where most people just mainly use plain cash.

[L Ron Cupboard]

OP you're being pretty Western-centric. There are plenty of places in the world where most people just mainly use plain cash.

No, I just think it is going to start in rich countries and cause problems for the poorer countries.

[Pandeeria]

There's really no use becoming completely cashless as a society.

[L Ron Cupboard]

There's really no use becoming completely cashless as a society.

There is for the government and a lot of businesses.

[Meridiani Planum]

While I am concerned about privacy issues, I rarely use cash anymore by choice. I wouldn't miss cash at all if it were to disappear.

The main losers would be street beggars.

[Esternial]

But how will I make it rain? D:

[Galloism]

Eliminating cash would be incredibly racist and xenophobic, though possibly not intentionally. Because of the Patriot Act, one requires a Social Security number to open a bank account. Foreigners will never get one of those even after becoming a legal citizen. As such, only natural born citizens can possibly exist in a cashless society. It would completely destroy all immigration.

This... actually isn't true at all.

Citizens can get SSNs. So can legal residents. So do those who have work Visas.

Incidentally, you can also open a bank account using a TIN if you aren't eligible for an SSN. Some banks also accept other forms of ID from foreign citizens (passports, etc).

[Scandinavian Nations]

How would knowing how much money was spent where at what time make everyone suspect or targets for arrest?

Big Data.
Statistical processing to look for "suspect" patterns gives, by design, a significant number of false positives.

[Big Jim P]

Here in the States there is no need for currency reform.

You people still use dollar bills and pennies.

Eliminating them would not be currency reform though.

[Great Nepal]

How would knowing how much money was spent where at what time make everyone suspect or targets for arrest?

Big Data.
Statistical processing to look for "suspect" patterns gives, by design, a significant number of false positives.

...which are accounted for by any reasonable analyst. Mere "suspect patterns" will never be taken by any reasonable court to be probable cause.

[Scandinavian Nations]

...which are accounted for by any reasonable analyst. Mere "suspect patterns" will never be taken by any reasonable court to be probable cause.

What are you willing to bet on it? Your freedom nonwithstanding.

I've taken the liberty of crossing out the unnecessary requirement. Not that there's no acts that let a court be bypassed in the first place of course.

[Big Jim P]

Even if we were to go to a cashless society, a barter system (or one based on commodities, like gold for instance) would spring up immediately. Why? Quite a few people want or need a system of untraceable trade (not always for illegal reasons).

[Greed and Death]

With anti money laundering laws as they are most businesses are being highly discouraged from using cash.

Sooner or later individuals will be subjected to the same punitive pricing businesses are for using cash.

[Greed and Death]

How would knowing how much money was spent where at what time make everyone suspect or targets for arrest?

Big Data.
Statistical processing to look for "suspect" patterns gives, by design, a significant number of false positives.

All the computer processing does is alert a human to investigate.

[Big Jim P]

With anti money laundering laws as they are most businesses are being highly discouraged from using cash.

Sooner or later individuals will be subjected to the same punitive pricing businesses are for using cash.

Which would be another example of the Government interfering where it does not belong.