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 Replies: 86 / Views: 7,690 |
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Valued Member
 United States
439 Posts |
I doubt the whole world would go cashless all at once. If it happens at all it would be in the more advanced areas and then if you traveled somewhere that didn't use the same system you would have to stop in somewhere and get some cash, or whatever they use, much like cashing in dollars for euros or whatever now.
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Pillar of the Community
Germany
992 Posts |
And, by the way, next time a hurricane, earthquake, flood or whatever hits your area and knocks out power, try to use a credit or debit card to pay...
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Bedrock of the Community
United States
20753 Posts |
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And, by the way, next time a hurricane, earthquake, flood or whatever hits your area and knocks out power, try to use a credit or debit card to pay...
Odd you should mention that. In most places today even the cash registers are electric. So you couldn't even open them if you did want to use cash. At Walmart a few Months ago I was in line and there was such a power outage. No cash registers could be opened. And remember those bar codes. They don't work either. And there is no prices on most items so the cashiers don't know how much anything is either. AHH, yes those security things at the doors. No electricity so those don't work either so they had to just make every one leave one at a time. At a grocery store that same thimg happened right in the middle of my checking out. We all waited for about 10 minutes and the power went back on. The cashier continued with checking me out never noticing the cash register had gone back to 0.00. Half my order was now not counted. I was going to get gas for my car and the gas station I tried had a power failure. Gas pumps, cash registers, etc. didn't work there either. So in a power failure it really will not matter in the future for credit or debit cards since nothing else will work either. |
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Valued Member
United States
397 Posts |
And for those locations that have a generator kick on - debit and credit cards will work just fine. And for everyone too young to remember, there was a time when credit cards were never swiped. Businesses just took an imprint of the card and the customer signed a copy. That way will still work as well.
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Pillar of the Community
 United States
5953 Posts |
When Ike came through Houston Power was out for a while.
The area where I live survived quite well.
The local Restaurants opened pretty much straight away at least those with gas cookers. Cash was King
They charged a flat rate for lunch and dinner no menu choice you got what ever they had available or what ever had to be used before it spoiled. The corner gas station had a small generator for the pumps and you could take your gas cans and get them filled if you had cash.
Alternatively to could go to one of the Fema depots and get free Army rations and ice. I was surprised how many people actually went to the restaurants and paid rather than taking the free hand outs. The local grocery stores opened within a day or so on a cash only basis. You told the check out clerk what the tag price on the item was and that's what they charged you. On the whole people were fairly honest.
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Moderator
 United States
189340 Posts |
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A time when I kept my coin inventory on my Tandy 1000 with a 10MB hard drive. :) Copper cents take me back to when I kept mine on a Sinclair ZX-81 and a cassette tape.  Quote:
And for everyone too young to remember, there was a time when credit cards were never swiped Last winter I had to power go out while I was in a restaurant. They processed my card with the old-school manual swiper and I got that messy carbon copy for my records. |
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Valued Member
United States
327 Posts |
Yes, those old credit card imprint devices(I'm not even sure if it qualifies as a device) will be an antique one day on ebay. I clearly remember many stops at gas stations where full serve meant that they not only pumped your gas but also took your credit card to the center island outside where they would imprint the card onto a slip, that I would then sign. I believe I got they yellow copy right? I don't even think the asked for ID unless you looked suspect. As I said earlier, it was a simpler time where there was still trust still happened in some places. Quote:
For the world to go cashless would mean the end of freedom. I do not see it happening in our or our kids lifetimes. Sorry, I don't know how to do the quote thing yet but in response to Billies quote above; Freedom as I know it, has been deteriorating for decades. We have traded much of our freedom for "security"; based primarily on fear. I wont get into how I feel about the governments "right to know" about our personal information. I will say that I love this country and wouldn't want to live anywhere else but, this is not the same country that I grew up knowing, and that my parents and grandparents spoke of. But eroding freedom aside, I wouldn't want to be anywhere else. |
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Pillar of the Community
Germany
992 Posts |
I am surprised how many folks here -- we are all coin collectors, aren't we -- see the cashless society coming rather sooner than later. I have some serious doubt whether it will happen in my life time -- or at all. Heck, even the Ferengis on Star Trek are using latinum for payment  I think cash will have a place in the economy/society although it will be a reduced one. And cash would have to go globally, not only in North America and Europe. Considering that the one dollar bank note is still alive and well and has not been substituted by the various one dollar coins... |
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Pillar of the Community
Canada
3692 Posts |
To add to this discussion, the US dollar is actually the prefered currency in some places. Ecuador, for example, doesn't even have its own currency anymore. In Peru, you get discounts for using US paper.
Cashless is so stupid, though. LOL, The Machine Stops, eh Carl? The only thing stopping me from carrying exact change ALL the time is sales taxes - you can never know what you're paying until it's too late. And recently the sales taxes here went from 15% to 13%. Just when everyone was getting good at calculating 15%, they change it on us with bribes through the mail.
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Bedrock of the Community
United States
20753 Posts |
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am surprised how many folks here -- we are all coin collectors, aren't we -- see the cashless society coming rather sooner than later.
I have some serious doubt whether it will happen in my life time -- or at all.
Heck, even the Ferengis on Star Trek are using latinum for payment
Interesting discussion for sure. However, it was not long ago when people would say things like "People will never be able to fly" or "Horseless carages, your nuts". "Sending images through the air". Anyone remember those old Dick Tracy comics where he had a wristwatch that he could use for communications? completely impossible you know. And many other similar things. Yes we all think a cashless society is far in the future but so did a lot of people with discussions like those I mentioned. Everything appears impossible to us since we can not forsee the future or even tomorrow. We constantly read or watch Science Fiction stories and usually say IMPOSSIBLE. Remember all those futuristic stupid machines by Jules Verne. Not sure if his name is spelled right. A machine allowing people to stay under water? Breathing apparatus for people to move around under water? Possibly atomic power for that submarine? All completely impossible? The thing to remember is international trading is growing more rapidly than anyone wants to admit. Being able to utilize constant purchasing from one place to another will mean a universal monitary system and in the very near future. Not to long ago if you told anyone from Europe that they will soon have only one monitary sytem, they too would say "Not in my lifetime". |
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Moderator
United States
189340 Posts |
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Sorry, I don't know how to do the quote thing yet... I edited it for you.  To quote, put [quo te] and [/qu ote] around the text... [qu ote]This is to be quoted![/qu ote] becomes... Quote:
This is to be quoted! |
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Pillar of the Community
Germany
992 Posts |
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Not to long ago if you told anyone from Europe that they will soon have only one monetary system, they too would say "Not in my lifetime". I am from Germany and I can assure you that within the European Union (27 member states) just 16 have the Euro, and especially the Brits have no intention whatsoever to join the Euro club, although it would benefit their economy, sentiment is strongly opposed to it. I agree however, that things will be possible in a couple of years that only a very few people are currently dreaming of... Edited by redlock
09/01/2010 05:03 am
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Pillar of the Community
United States
2602 Posts |
Most of the casinos here in NW Louisiana are cashless at the slots, though they'll take your $20 bill. It converts it to a paper receipt, let's say you spend $1 in teh slot and you lose and you want to cash out- you get a paper receipt for $19. What has surprised me over the last 5-10 years is that, until last year, the mintage of US coins really hadn't fallen all that much. I had always thought that demand for coinage would continue to fall, and that would eventually lead to greatly reduced mintages. Until the nickels and dimes of last year, it hasn't happened, and I think the decline in mintage for nickels and dimes in 2009 is more related to a weakened economy (look at the early 30s key dates or most 1894 coinage during weakened economies as examples). At some point the move to a more and more cashless society I think should lead to a decline in demand for coinage, which in turn should lead to a decline in mintages that continues over multiple years. |
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Moderator
United States
189340 Posts |
People have been hoarding coins for years, so the mintages have stayed high. With the recession, people have been cashing in those hoards. Bank demand for coinage decreases, so does the mintage.
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Valued Member
United States
368 Posts |
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"I thought the definition of "legal tender" was that it must be accepted...?" I work at a convenient store and a gas station...Any one at any store can refuse service to someone at any time weather this is due to credit or debit cards, who the person is, if the money is dirty and torn or anything you can think of. I don't even need to give an excuse. As a business you have that right. I turned a guy away for trying to charge a 85 cent ice cream cone. He tried to charge it. By the time the credit card charges are paid for my boss they would have made no money on the transaction. The newspaper ran a story a few months ago saying credit card minimums in stores was illegal. WRONG we still have one. Right to refuse service can be done by anyone. |
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Posted 08/30/2010 04:07 am
