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 Replies: 34 / Views: 4,784 |
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Pillar of the Community
United States
4868 Posts |
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Pillar of the Community
5464 Posts |
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Disturbing...what if there is a hiccup in the credit card system or perhaps a power outage? What if you don't have a debit or credit card?....... ....or perhaps a major cyberattack. It's the world (country) we live in today. There will be winners and losers. Our free market economy will sort it out. Maybe that's why most of us have gold and silver in our collections.  |
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Pillar of the Community
 United States
4868 Posts |
A good thing on cash's side as that its not traceable and you have more privacy using cash than plastic.
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Bedrock of the Community
United States
94367 Posts |
Wow, that's a first for me!
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Pillar of the Community
United States
3470 Posts |
I wonder how they would handle 10 or 100 people showing up with $50 bills during the lunch rush.
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Rest in Peace
United States
17900 Posts |
Not so long ago one of the Scandinavian countries is already nearly cash free. It's coming...
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Pillar of the Community
United States
3184 Posts |
I'll continue to stick to cash only for my purchases!
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Valued Member
United States
338 Posts |
I never owned a credit card.
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Pillar of the Community
 Canada
5394 Posts |
Try finding a coin or antique dealer who says we don't take Cash!  For Business expenses we always use a credit or debit card. Personal items I use Cash only . When the Cash is gone it tells me on a personal basis, " you don't need that". I do not think we will see the complete demise of Cash for at least two more generations . Edited by Pacificoin
12/26/2017 5:05 pm
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Pillar of the Community
United States
800 Posts |
I use CASH. I have one credit card and I use it a couple of times a year. Next thing is they will want to use BITCOIN only.
Edited by cashhound
12/26/2017 5:51 pm
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Pillar of the Community
United States
3324 Posts |
VISA giving select retailers $10,000 to deny me my choice of payment methods?! Makes me seriously reconsider patronizing them in the future if it is as bad as it sounds. Shame is, they've nearly cornered the debit card market.
I'm not happy about all this
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Bedrock of the Community
Australia
21788 Posts |
Cash is king; there is no doubt about that. That is despite the fact that that you may even be unknowingly paying with counterfeit banknotes. Cash budgeting has saved me many thousands of dollars over the decades. No one can ever get at my credit card details and steal my identity, because I have never had a credit card.  -------------------------------------------------------------------------------------------------------------------------------------------------- Identity theft is becoming an increasingly major problem. I have just been issued with a new passport, and it has a chip in it. That chip can be read from as far as 10 feet away, without the passport ever leaving my pocket. Producing a near identical passport after that is easy for a professional criminal syndicate. My defense to that is to keep the passport in a tuned frequency Faraday cage (sleeve). Can also be used for protecting against reading your credit card chip, if you insist on having a credit card. Edited by sel_69l
12/26/2017 7:03 pm
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Bedrock of the Community
United States
20753 Posts |
I've been saying this for a long time. Soon enough cash will be a thing of the past. Kids will be saying things like "Hey, Grandpa, what was that stuff you used to use called cash"? My Son has his own business and never uses cash. He says credit and debit cards give him statements which he uses as a method of accounting. I love my Credit Card. It is a Bank of America one and I get from 1 to 3 % back on every purchase. And then at the end of the period, my statement shows all those extra moneys. From there I have it transferred to a savings account and get 50% more money added to the total. So if I have a balance of $30, they transfer $45 to my savings account. Why use cash and get nothing for using it?
Eventually the entire world will be electronic. It will be necessary for transactions between different countries. Why try to figure out what something costs in India when a computer can do it and accurately too. People will just have to face it, cash is on it's way out.
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Moderator
United States
188513 Posts |
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Disturbing...what if there is a hiccup in the credit card system or perhaps a power outage? They close the doors. But Most places these days have battery backup to protect their systems. We have a UPS on every PC and a generator for the building. We never lose power. Quote:
What if you don't have a debit or credit card? You go somewhere else and hope they take cash. |
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Moderator
United States
188513 Posts |
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....or perhaps a major cyberattack. It's the world (country) we live in today. When that happens, not being able to buy chicken and brown rice and yams is the least of your problems. Yes, I said when. 2018 is gonna be rough. Get ready.  |
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Moderator
United States
188513 Posts |
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I've been saying this for a long time. Soon enough cash will be a thing of the past. Kids will be saying things like "Hey, Grandpa, what was that stuff you used to use called cash"? I have been saying this as well. We might think Cash is King, but the newest generations really prefer electronic methods. This has a lot to do with the online economy. The new adults buy most of their stuff from Amazon and the like. Cash does them no good there. When they do buy from B&M shops, they just use what they use online, which is actually less the plastic we know and more phone payments (Apple Pay, Android Pay, PayPal, etc). |
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Replies: 34 / Views: 4,784 |
Posted 12/26/2017 12:59 pm
