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 Replies: 27 / Views: 3,080 |
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Valued Member
United States
411 Posts |
Have you ever been sitting around thinking of nothing but every thing?
Lets think about coins and the future.
About 6 months ago I was working and decided it was time to retire.
While working I went to the store and used folding money to buy things.
Received my change and would look it over to see if there was anything good there.
I found nothing most of the time but every now and again I came across something
worth saving or giving a better look at.
Then the day come for me to move out of my building and rent it. Retire.
This is where it starts.
Since retiring when I go to the store I use my Debit card or Credit card.
In other words I get no change in return, nothing to look at.
This is where my mind went crazy and began thinking about the future.
In the future we use debit and credit cards what will happen to our change and thus our money.
Will money , both paper and coin end ? Will the mint stop making new monies ? Edited by cuzzx
03/17/2017 1:18 pm
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Moderator
 United States
187702 Posts |
I have said it more than once, cash will go away. We may not live to see it, but it is inevitable.
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Bedrock of the Community
United States
94367 Posts |
Paper money will outlive coins by a long shot, I'd guess.
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Moderator
United States
187702 Posts |
If they keeping failing to replace the lower denominations with coins, you may be right. Inflation will see to it.
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Bedrock of the Community
United States
94367 Posts |
Has to be. I never carry coins with me and just throw change into our big jar. I hardly ever even use paper money any more - my wife more so because she travels a lot. I would guess that less than 1% of our annual spending is in hard money.
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Moderator
United States
187702 Posts |
There are only a couple of places where I regularly use cash, mostly because they give a significant discount. If cash disappeared from circulation tomorrow I think I would be okay.
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Pillar of the Community
United States
7390 Posts |
Yes, it will end. And yes, a chip in your palm or wrist will be used to pay for things.
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Rest in Peace
United States
17900 Posts |
Currency? Coins? For most people the card swipe replaced both of those many years ago.
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Valued Member
Canada
402 Posts |
BUT electronic transactions are 100% traceable (and capable of being cancelled, taxed or confiscated by governments. Other forms of wealth storage (art diamonds precious metals) suffer from a lack of divisibility and /or illiquidity.
Currency confiscation could either be by owners racial, economic or locale or even by a amounts above a certain ceiling.
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Pillar of the Community
United States
7390 Posts |
Which is why politicians will push for it. It will happen. Exactly when, is the only question.
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Valued Member
 United States
411 Posts |
I give it less than ten years for cash/coins to disappear
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Bedrock of the Community
United States
20753 Posts |
I've been saying this for a long time now. Even on the news not long ago there was a story about how even China is getting away from using cash of any kind. That I found great since so much of our fakes are from there. Now I find myself using credit cards more and more. Just no need for cash much longer.
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Pillar of the Community
United States
4211 Posts |
I still use a fair amount of cash for smaller transactions but my son and daughter in-law both use debit cards for everything and almost never have any cash what so ever on their persons.
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CCF Advertiser
United States
1533 Posts |
As a parent, I cannot see cash going away. Most of the cash I use, other than at coins shows, is for babysitting, lessons, tutoring, classes, etc. None of this can be paid with credit cards and it is hundreds of dollars a month.
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Pillar of the Community
United States
1839 Posts |
As long as there's drug dealers and drug users there will always be cash. And I don't see either of those going away anytime soon.
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Pillar of the Community
United States
2023 Posts |
How will we tip strippers without cash? (I'm convinced that's a big reason we still have one dollar bills. No one, especially congressmen, wants to tip strippers with fives.)
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Replies: 27 / Views: 3,080 |
Posted 03/17/2017 4:59 pm
