A Cashless Society?

#1

"Australia is well on the way to becoming a cashless society," Mr (Alex) Hawke has written...

From 2007 to 2013, cash dropped from 70 per cent to 47 per cent of transactions. In the last three years, the demand for coins has dropped 25 per cent.

The demand for banknotes is still growing. As of June 2015, there were 1.3 billion in circulation. The total value of $65.5 billion was up 8 per cent from the year before - higher than expected.

This was largely driven by production of the $100 note, which increased 11 per cent and has jumped significantly since 2012.

In a climate of economic uncertainty, there is also concern about the security and lack of anonymity of new innovations. Mr MacDiarmid sees a correlation between this and a preference for coins and notes that people can hold in their hand.

Some countries are leading the charge towards cashless systems. The Danish government has proposed removing the obligation for businesses to accept cash payments and in Sweden hard cash represents just two per of the economy as card and mobile payments take over.

http://www.watoday.com.au/federal-polit ... mv8ka.html

I am one of those people who enjoys opening her wallet and purse and seeing notes and coins in them... even if I can't spend some of them here as they are foreign currency given to me in my change. :p

How do you feel about the possibility of never having to handle cash ever again? Would you happily give up cash?

Random User · #2

Having a physical representation of money feels nice. Gotta have my fat stacks.

#3

I mostly carry a bit of cash just in case. You never know when there's a place that won't accept credit cards or they will but the power/Internet is down. I also don't like to make stupid little purchases with credit because I want to make sure the business isn't spending all the profit from the sale on processing fees, so if I'm buying lunch and it'll be less than $5, I use cash.

Checks as well. I only write them to the tax man.

YouTube · #4

This is just yet another attack on kids' corner lemonade stands.

And remember, "I'm-a Luigi, number one!"

#5

I don't know how I feel about having currency go non-physical?

I mean if it has to?

Bad Dragonite · #6

There'll not really be a reliable way of doing this anytime soon.
Just ne example, I work in a grocery store, if there's some sort of storm or a glitch and our net goes out we simply can't take debit or credit and can only take cash. It's not a mom and pop store either, it' a decently widespread chain. Little things like that can simply get in the way of a cashless society.[DOUBLEPOST=1455694527,1455694389][/DOUBLEPOST]That and I think most people (Myself included) like the freedom that comes with cash as an option and just having something physical to hold. An all digital currency could be very susceptible as well.

Random User · #7

^What do you mean by susceptible?

#8

It could be easily stolen? That's my guess.

Deepfake · #9

Well having centralised records of everyone's spending would be a dream for the taxation departments of the world. I'm not so sure I'm on board. I still prefer hard currency for simple matter that it doesn't have requirements for changing hands and nobody's tracking data on it.

Random User · #10

There's always bitcoin.

Bad Dragonite · #11

[QUOTE="Random User, post: 1586793, member: 35827"]^What do you mean by susceptible?[/QUOTE]
well for starters there's hacking and identity theft, then if there is some kind of corruption in the system, governmental or by the bank you could just lose all your numbers, glitches, human error, those are all issues just off the top of my head. And if say you had digital currency that was locked to that card and all the data was on that card and not on a server it would prolly not be hard to tamper with and exploit that. Or if you have an accident and the card breaks or is electrocuted or gets wet internally or anything you're basically screwed. Plus cash can be hidden. If it was legal money online it wouldn't be quite so easy to hide as say in your mattress or something. I can see that as a safe banking site now "internetmattress.com" or something. I wonder if that's already a thing.

Kil'jaeden · #12

The developed world is well on its way toward this. That is not really a good thing, since it will allow the government to track all movement of money. Imagine being taxed for just giving someone 10 dollars to spend on stuff at the gas station. What about when you want to sell things like furniture or junk from the garage? They would tax that too, and probably use their control to restrict sales, forcing people to always buy new things.

Another big problem is that we already have problems with money. Most money in the worldwide financial system is digital, just like all of it would be in a cashless society. How else would banks be able to lend several times more than they actually have? That is also how the government "creates" more money(or rather, the central banks). Tying everything into this one system means that everyone is in trouble should it fail, as it eventually would.

#13

I can't see how a 100% cashless society would work, but I have no issues with about 99%.

I prefer electronic payment methods as quicker, more convenient, and safer, plus I often get rewards for using them.

[QUOTE="CaptHayfever, post: 1586737, member: 25169"]This is just yet another attack on kids' corner lemonade stands.[/QUOTE]

They probably take credit cards. Homeless people do now. There was a guy on the news a month or so ago who uses a smartphone app to accept money from people using credit cards. I don't even have either a smartphone or an app.

#14

I like the idea of making money much more on plastic, while also getting rid of paper currency so that cash is exclusively on coin since while the production costs are higher, they last much longer. Dollar coins are gold coins, get used to the future of RPG currencies.

YouTube · #15

The issue with all-coin currency is weight, not production cost. (Also the fact that they made the gold dollars exactly the same size as quarters.)

And remember "I'm-a Luigi, number one!"

#16

who cares about weight that's what makes you a HERO

I AM CARRYING 42,000 GOLD PIECES IN MY BAG AND I WILL BUY MY +15 PLATEMAIL OF SCALDING SCALES DAMMIT

Bad Dragonite · #17

[QUOTE="LOOT, post: 1587195, member: 21459"]who cares about weight that's what makes you a HERO

I AM CARRYING 42,000 GOLD PIECES IN MY BAG AND I WILL BUY MY +15 PLATEMAIL OF SCALDING SCALES DAMMIT[/QUOTE]
YUSH
I'm going have to go to the bank at some point and exchange a hundred dollars for gold dollars and just carry around a satchel on my belt and pay for everything that way.

X-3 · #18

A cashless society

a world of STRENGTH