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 Replies: 19 / Views: 5,077 |
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Valued Member
Canada
386 Posts |
Edited by 1945V
09/21/2013 2:09 pm
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Valued Member
50 Posts |
No but I think pennys and half dollars will both go completely obselte very soon !!
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Pillar of the Community
Canada
548 Posts |
Quote:
On top of that, users wouldn't need a bank account or even a half-decent credit rating. As long as they have a smartphone, they can buy the Mint's digital money. And if you don't have money, how are you supposed to buy more money? Which won't be your money anyway but rather the Mint's money. What happens when, for whatever the reason, the Mint decides you can't have any more of their money? Where do you do then? I really do not like this idea. Big Brother will be watching every little transaction, and not just to be sure that they get their cut. Anything that's good for the government is bound to be bad for the individual. |
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Pillar of the Community
Canada
548 Posts |
Sean H, they already are in Canada.
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Pillar of the Community
Canada
867 Posts |
the gangsters and income tax evaders are never going to relinquish their cash for digital money...
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Pillar of the Community
United States
655 Posts |
It isn't likely to happen in the US any time soon. We have way too many tin foil hat wearing paranoids that think the government is getting ready to send them to a FEMA reeducation camp or some such nonsense. Shh... Listen, here come the black helicopters now.  Edited by NJ Bob
09/22/2013 12:24 am
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Bedrock of the Community
Australia
21788 Posts |
Don't get anxious too soon. Coins and notes generally will be around for lots of decades yet to come.
There may be a few adjustments along the way, but that's all.
The drug sub culture would not be able to survive with electronic banking only.
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Pillar of the Community
Canada
548 Posts |
Let's not forget that some suspect secret government surveillance of our money has already happened.  All these painted coins and "security devices" are merely getting us used to the idea.  |
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Pillar of the Community
Canada
2805 Posts |
It's a microphone!! A microphone, I tell you!! Wake up, sheeple! As for this "laser-mark micro-engraving"...  The Feds have spent years refining the technique found at the back of comic books for 25 cents (plus shipping & handling) and are now unveiling their U.N.-sponsored array of Hypno-Coins nationwide. Soon, the mind control will ensure we all vote Conservative... forever! |
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New Member
United Kingdom
40 Posts |
When I worked for the company that makes the paper for many countries this came up often. Each time a note was dropped 10 shillings, pound, but we simply made more of the higher denomination notes. So the simple answer is no, it will be a very long time before it dissappears, if ever.
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Valued Member
Canada
496 Posts |
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Pillar of the Community
Australia
560 Posts |
Well it ain't going to happen in third world countries. And many small business use only cash.
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Pillar of the Community
Canada
1554 Posts |
 If you look at the past, let's say 30+ years ago (for those of you old enough to remember), did you ever think you would see a day that you could do 24 hr banking? Banking from your computer in your underwear? Paying bills and making purchases from a cell phone? Depositing a cheque into your bank account by merely taking a picture of it from your cell phone? All this has occurred in a mere 30 years! Now think of how fast technology is growing by leaps and bounds, literally as I am typing these words onto my computer screen? How many of you, be honest now, who are under the age of "40" really use hard currency (paper money and coins) to make day to day purchases? In my opinion, once the Baby Boomers (that includes me) and War Generations are expired (ages 40+) hard currency will take such a decline that governments will re-evaluate keeping it alive! Now this won't happen next week, next year or in the next 10 years. However, sometime in this Century.............I believe it will! Glenn  Edited by glenzy1
09/28/2013 07:21 am
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Pillar of the Community
Canada
2495 Posts |
It'll never happen.
We're (globally) heading toward a currency crisis.
That's the end game for all this paper printing the world's governments and central bankers are doing.
Presently, not one country's currency is backed by any hard asset.
Eventually, whether it takes 2 or 20 years, the world's financila system will implode (probably hyperinflate) and we'll get back to money being backed by a basket of hard assets (possibly a combination of precious metals, oil, other commodities and the strongest country's currencies).
Along with this, people will want to have 'money' in their pocket.
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Valued Member
 Canada
386 Posts |
Good points glenzy1.
I remember 30 yrs ago getting a paper paycheck and having to stand in line for an hour at the bank Thursday night to deposit/cash it. People who suffered through this every week really appreciated depositing their checks via ATM machines in minutes at their convenience. Most companies gave out only paper paychecks until the early 1990s when you could finally opt for direct deposit.
I personally do not like the idea of digital currency. I prefer credit cards that give you essentially an interest-free 30-35 day loan if you pay the balance on time and you are fully protected against fraudulent use. Also I like the points programs. If sometime steals your smart phone and hacks into you digital money account they can clear it out in minutes.
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Pillar of the Community
Germany
992 Posts |
Norway is one of the highest developed countries in the world. More than 95% of payments are made electronically. Here a statement from the norwegian central bank from Dec. 2012 why they will introduce new banknotes in the near future Quote:
Q: Do we even need banknotes now that most people pay with a card?
A: Banknotes are and will continue to be an important part of the infrastructure of the payment system, and the quantity of cash in circulation has remained at around the same level in recent years. In other words, there is still a need for banknotes.
It is also the Bank's experience that whenever electronic payment systems do not function, or there are fears that these systems will cease to function, the general public increases its demand for cash. Thus, cash serves as a backup. and this Quote:
Q: Will Norges Bank also be introducing new coins?
A: Norges Bank has no plans to make changes to the current coin series. But in connection with development of a new banknote series and the range of denominations, the Bank will considerer whether the 50-krone note should be replaced with a coin. Edited by redlock
09/29/2013 06:07 am
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Replies: 19 / Views: 5,077 |
Posted 09/21/2013 2:40 pm
