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 Replies: 38 / Views: 6,899 |
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Pillar of the Community
921 Posts |
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Moderator
 United States
187840 Posts |
Scandinavians were ahead of us with replacing landlines with cell phones. I am not surprised they are leading the way here.
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Valued Member
United States
156 Posts |
The thought of it makes my skin crawl. My net worth reduced to a binary code in some financial system's computer network? Yikes.
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Valued Member
United States
62 Posts |
I don't like the idea of not having physic cash because it would make mowing lawns in the neighborhood a lot harder than handing over cash.
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Pillar of the Community
United States
513 Posts |
so do we collect . . . bitcoins?
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Valued Member
United States
317 Posts |
Dang fangled people with their fancy dancey mobile pay. Next thing you know they'll be trying to stop us from shoeing horses and using candles! Fooey.
But to be serious, I wonder how that government will address the fraud issue? And as the article points out, how will they help the elderly get on board quickly besides mandating critical services to accept cash? Serious issues, hope it works out.
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Pillar of the Community
Sweden
1078 Posts |
Well, I can tell for certain there are more and more electronic payments everywhere I go. Some people, especially youths, pay with their card for minimal purchases under US$1. I think it's crazy. Quote:
In Sweden, you can even use a card to buy street newspapers sold by homeless people. Card reader maker iZettle said sales of Situation Stockholm have jumped following the introduction of mobile payments. I have never seen this happening nor do I think it's very viable. If you are homeless I don't think a state-of-the-art cellphone is the way to go. In fact, the ones I see selling these newspapers barely even have phones, or at least the lastest brands. One thing I really despise is how most bank offices here in Seden hae decided to go cash-free. However, I think there's an upcoming law forcing these to deal with cash again. Atleast I hope so. Me personally, I essentially always pay with cash, and honestly, I have yet to be refused paying with them. |
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Moderator
United States
187840 Posts |
Quote:
The thought of it makes my skin crawl. My net worth reduced to a binary code in some financial system's computer network? Yikes. Well, for the most part it already is. Unless you keep it all in the mattress, your bank accounts (IRA, savings, etc) are largely digital. |
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Pillar of the Community
Sweden
1078 Posts |
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But to be serious, I wonder how that government will address the fraud issue? This is where I'm getting worried. Our police force is trying to crack down on digital frauds, and frankly, not much is happening. Remember ThePirateBay? It's still going strong and although the operators have been convicted. They are now free and are keeping up with their activities. As soon as they leave the country, they are immune to government actions. Just settle down in a foreign country far away from your fraud targets and start making money. Since you're abroad, there's nothing the authorities can do about it. |
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Rest in Peace
United States
7075 Posts |
How long before the banksters figure out how to charge a transaction fee for EVERY transaction?
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Pillar of the Community
United States
767 Posts |
PCGS MS62 2015 Visa card...?
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Bedrock of the Community
United States
10034 Posts |
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How long before the banksters figure out how to charge a transaction fee for EVERY transaction? They would NEVER do that... ...and you will be able to keep your current banker and bank account if you want to after the bill is passed... |
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New Member
Denmark
13 Posts |
If you read the Danish article about the this, it does say that most stores actually aren't included in the proposal, as opposed to the headline in the CNN article.
Should this proposal at some point in the future become reality, grocery stores, supermarkets, post offices, doctors, dentists, chiropractors, physiotherapists, public hospitals, nursing homes etc. will all still be accepting cash payments. In fact, the proposal states that this is for 'selected stores, such as restaurants, clothes stores and gas stations'.
In any sense, this is pretty far from "ditching notes and coins altogether".
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Pillar of the Community
United States
1158 Posts |
There is still a relatively large portion of the population that don't fit the ideal and they cannot always use the electronic methods easily. My brother, for example, has massive credit issues due to bad life choices and cannot even get a checking account, much less a card to use. He has had trouble with employers who all want to do direct deposit. He had to fight with his current employer for a month to get his first paycheck because they couldn't imagine why he couldn't do direct deposit.
Not to mention, what does this do for the ability to just sock some money away in the darn mattress if you want. I guess silver stacking will be the only way when cash is gone.
Isn't there some sci-fi movie where they just wipe out all the digital assets of everyone in the world with the click of a button?
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Pillar of the Community
United States
711 Posts |
They will probably have to go cashless here in this Greater Depression at some point, just to prevent the bank runs if nothing else.
It is crazy that without changing the FASB rules all the banks that print money out of thin air would be absolutely insolvent despite their monetary wizardry.
Crazy times.
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Pillar of the Community
United States
4333 Posts |
Quote:
The thought of it makes my skin crawl. My net worth reduced to a binary code in some financial system's computer network? Yikes. Like mentioned previously, it already is. Once you deposit your cash, it is the bank's property. They "may" allow you to withdraw larger amounts, and if large enough, the bank can file a suspicious activity report, without your knowledge. Banks only keep so much cash on hand, including credit unions. I've been denied cash withdrawals as small as $5k, and notified that they need up to three business days to get that amount. Frustrating especially when they don't call and I return in three days, and they still don't have the cash available. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
06/13/2015 10:03 pm
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Replies: 38 / Views: 6,899 |
Posted 06/09/2015 3:54 pm
