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Electronic Currency

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  • 27-01-2009 8:08pm
    #1
    Senna
    Registered Users Posts: 8,800 ✭✭✭


    What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc


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    #2
    TheZohanS
    Closed Accounts Posts: 11,582 ✭✭✭✭TheZohanS


    Senna wrote: »
    What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc

    Probably not, at least with notes and coins you know if you have enough to pay for one after a night out. ;)


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    #3
    [Deleted User]
    Posts: 17,378 ✭ [Deleted User]


    effort. not bein able ta lend someone a fiver. or ever sell anything second hand?


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    #4
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    Would raise serious concerns about privacy.


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    #5
    delllat
    Closed Accounts Posts: 1,388 ✭✭✭delllat


    would work in addition to cash
    not instead of cash


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    #6
    conf101
    Registered Users Posts: 1,037 ✭✭✭conf101


    TheZohan wrote: »
    Probably not, at least with notes and coins you know if you have enough to pay for one after a night out. ;)

    BOOM BOOM!!!


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    #7
    xOxSinéadxOx
    Registered Users Posts: 2,604 ✭✭✭xOxSinéadxOx


    delllat wrote: »
    would work in addition to cash
    not instead of cash

    are you joking or not? I can't tell


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    #8
    delllat
    Closed Accounts Posts: 1,388 ✭✭✭delllat


    xOxSinéadxOx wrote: »
    are you joking or not? I can't tell

    ;)


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    #9
    [Deleted User]
    Posts: 17,378 ✭ [Deleted User]


    xOxSinéadxOx wrote: »
    are you joking or not? I can't tell

    lol :D i was gonna defend him till it clicked :pac:


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    #10
    delllat
    Closed Accounts Posts: 1,388 ✭✭✭delllat


    xOxSinéadxOx wrote: »
    are you joking or not? I can't tell

    well,this is ah!


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    #11
    delllat
    Closed Accounts Posts: 1,388 ✭✭✭delllat


    seriously though it would be an interesting concept

    the likes of street prostitutes would suffer though so its not viable


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    #12
    xOxSinéadxOx
    Registered Users Posts: 2,604 ✭✭✭xOxSinéadxOx


    I suppose you couldn't really evade tax either


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    #13
    [Deleted User]
    Posts: 17,378 ✭ [Deleted User]


    it's not an interesting concept.. unless we can exchange money person to person with the electronic system without trace, it wont happen and no one would want it to happen.


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    #14
    delllat
    Closed Accounts Posts: 1,388 ✭✭✭delllat


    it would still be cool to be able to forget about cash

    tiny micro chip implanted under the skin that would have a unique digital signal

    you could just take your groceries at scan your hand under the machine at tescos

    pure convenience!


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    #15
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    If it were ever to be introduced, you would have to be able to transfer money to another person, without going to a bank etc. Probably using your mobile phone or a computer. Privacy would be a problem, but don't the banks flag any payments into you account over 5k (maybe more, cannot remember) anyway. So i assume the bank could flag irregular payments, possibly crime related.

    I dont see why it couldn't work, i would be fairly sure it will happen at some stage, maybe long after our lifetime, but it will happen.
    The benefits it would bring would far out weight the negatives.


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    #16
    Run_to_da_hills
    Closed Accounts Posts: 20,009 ✭✭✭✭Run_to_da_hills


    Senna wrote: »
    What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc
    All ready discussed at length in the conspiracy forum and is on the way to a phone shop near you..

    RFID compatible NFC cellular phones should be on the market by the end of the year. All personal transactions can be conducted as well as POS at supermarket checkouts and transit smart card usage.

    Used in conjunction with UPC bar codes / RFID tagging it can itemize every purchase you make and will pinpoint your location on planet earth. This will be one of the tools of the "New Global Order" to help fight "terrorism" and "crime".

    http://www.youtube.com/watch?v=BwfYVd3ObPA&feature=related


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    #17
    dotsman
    Registered Users Posts: 3,635 ✭✭✭dotsman


    Senna wrote: »
    If it were ever to be introduced, you would have to be able to transfer money to another person, without going to a bank etc. Probably using your mobile phone or a computer.

    Yes we will have to wait until the invent internet/phone banking.

    Actually, that sounds way too far fetched to me.


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    #18
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,827 Mod ✭✭✭✭Capt'n Midnight


    well they are talking about putting RFID chips into €100 notes too

    we are getting closer all the time to emoney but for some things like the black economy you can't beat cash


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    #19
    Eoin
    Moderators, Category Moderators, Motoring & Transport Moderators Posts: 21,238 CMod ✭✭✭✭Eoin


    I'd love to have something like a laser card that didn't take so long to process. The problem is that would mean the balance would probably have to be stored on the card rather than being processed each time, and no doubt you'd have scammers making dodgy cards in no time.
    delllat wrote: »
    the likes of street prostitutes would suffer though so its not viable

    Depends where you swipe the card I suppose.


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    #20
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


    Cash is King.;)


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    #21
    Run_to_da_hills
    Closed Accounts Posts: 20,009 ✭✭✭✭Run_to_da_hills


    Capt'n Midnight wrote: »
    well they are talking about putting RFID chips into €100 notes too

    we are getting closer all the time to money but for some things like the black economy you can't beat cash
    If countries go bankrupt in the current economic climate the creditors (World bank) will force governments into eliminating cash thus weeding out the black economy. Electronic transactions will eliminate dole fraud along with any sort of crime and money laundering all at the expense of civil liberties.


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    #22
    Bluetonic
    Registered Users Posts: 7,588 ✭✭✭Bluetonic


    Privacy isn't an issue, there are plenty of ways to make transaction anonymous with simple algorithms and blind signatures.


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    #23
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


    We'll end up using a bartering system for many things.;)


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    #24
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    galwayrush wrote: »
    Cash is King.;)
    ...unless we declare a republic.
    O' wait...! :eek:


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    #25
    K-9
    Registered Users Posts: 43,311 ✭✭✭✭K-9


    Read first page and was wondering were RTDH was..................

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



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    #26
    Run_to_da_hills
    Closed Accounts Posts: 20,009 ✭✭✭✭Run_to_da_hills


    Bluetonic wrote: »
    Privacy isn't an issue, there are plenty of ways to make transaction anonymous with simple algorithms and blind signatures.
    The EFT is cat and mouse, the more it gets cracked the more sophisticated it gets. It started off with just signatures on our credit card transactions, then chip & pin, soon all this will be replaced with biometric thumb print / retina scanners. Dual purpose USB biometric and smart card readers are already on the market.

    The only real way around the system would be back to barter, Cash will effectivly become worthless.


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    #27
    120_Minutes
    Registered Users Posts: 4,706 ✭✭✭120_Minutes


    this country cant even manage real money.


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    #28
    Run_to_da_hills
    Closed Accounts Posts: 20,009 ✭✭✭✭Run_to_da_hills


    120_Minutes wrote: »
    this country cant even manage real money.
    It may not be our country that will be managing the next stage of money.


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