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Cashless Society

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    #32
    endacl
    Registered Users Posts: 22,239 ✭✭✭✭endacl


    Daveysil15 wrote: »
    It could be a predecessor to a one world currency which wouldn't be good.

    There used to be one. Gold. Of course we couldn't go back to the bad old days of knowing exactly what cash was worth, and no inflation...


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    #33
    languagenerd
    Registered Users Posts: 3,201 ✭✭✭languagenerd


    The idea of a cashless society scares me. Money would lose all meaning when you have nothing tangible to associate it with - it becomes just a number on a screen, which means that it could be changed in a flash by computer failure, corrupt bankers, hackers, changes to govt policy... It also means a lack of privacy, with every transaction traceable and logged in a system somewhere. And while I don't buy anything dodgy or illegal, I don't necessarily want a politician or bank employee or civil servant (or advertising company) knowing what I'm spending all my money on. Furthermore, if corruption ever got really bad, it could become possible for the powers that be to block your ability to spend money (obv a worst case scenario, but as long as cash exists, that's not really possible).

    If you lost your bank card, or if there was a power cut, or if the system failed like in Ulster Bank last year, you couldn't buy or pay for anything at all until it was resolved (and all of those could last days or weeks). It would make us too reliant on technology and would only work if we could be 100% sure that there'd never be technological failure or breakdowns.

    Also, it'd mean that you could never buy anything for under a fiver (because the transaction fees for debit cards make it unprofitable for businesses to process small transactions) so prices would probably rise on basic items.

    TL;DR: No. Long live tangible cash!


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    #34
    Daveysil15
    Closed Accounts Posts: 4,301 ✭✭✭Daveysil15


    endacl wrote: »
    There used to be one. Gold. Of course we couldn't go back to the bad old days of knowing exactly what cash was worth, and no inflation...

    Yeah and then there's the loss of national sovereignty and political obstacles like getting the countries of the world to agree on interest rates, loans, credit and other money management issues.


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    #35
    Celly Smunt
    Banned (with Prison Access) Posts: 9,464 ✭✭✭Celly Smunt


    Monopoly with cards isn't as fun.Therefore no.


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    #36
    discus
    Closed Accounts Posts: 3,049 ✭✭✭discus


    languagenerd wrote: »
    TL;DR: No. Long live tangible cash!

    Yes, cash, tangible. God bless those pieces of paper that are only worth the value that others tell us they are worth.


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    #37
    ToddyDoody
    Registered Users Posts: 4,421 ✭✭✭ToddyDoody


    SafeSurfer wrote: »
    Would you agree to a cashless society if it meant low levels of tax evasion, crime etc, but meant all your transactions were traceable?
    Id suggest we bring back precious metals, something real in your hand. Gives meaning to money and its value.


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    #38
    ScumLord
    Registered Users Posts: 28,789 ✭✭✭✭ScumLord


    languagenerd wrote: »
    The idea of a cashless society scares me. Money would lose all meaning when you have nothing tangible to associate it with - it becomes just a number on a screen, which means that it could be changed in a flash by computer failure, corrupt bankers, hackers, changes to govt policy...
    Cash has always been like that. Cash is basically worthless unless two people agree it has worth and trade using it.

    The problem I have with electronic payments is your charged for it. If we're forced into a society where banks get a cut of every single transaction ever made on the planet I'm going mad max on this mother.

    There's no reason why we can't have a cashless society where electronic payments are completely free. It's sickening that banks charge for something their computer is doing anyway in milliseconds.


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    #39
    ThreeBlindMice
    Banned (with Prison Access) Posts: 135 ✭✭ThreeBlindMice


    Didn't the Bible predict some sort of a cashless society?


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    #40
    discus
    Closed Accounts Posts: 3,049 ✭✭✭discus


    ThreeBlindMice wrote: »
    Didn't the Bible predict some sort of a cashless society?

    Yeah it's called heaven but there's no room for you heathens and athiests. Enjoy your stimulating discussions with dawkins... in Hell mwahahahahahahahaha :pac:


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    #41
    Cookie_Monster
    Registered Users Posts: 24,475 ✭✭✭✭Cookie_Monster


    SafeSurfer wrote: »
    Would you agree to a cashless society if it meant low levels of tax evasion, crime etc, but meant all your transactions were traceable?

    I effectively live in a cashless society in NZ. I've had cash on me only once in the last 3 months to pay for the airport bus in Wellington, everything else is online banking of EFTPOS*. It's great.

    Obviously cash is still very much acceptable and many people use it, but I think it's much further along the journey to cashlessness than most countries.


    *Electronic Funds Transfer Point Of Sale: like Laser only much cheaper for retailers and customers, faster and better.


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    #42
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,082 Mod ✭✭✭✭Tar.Aldarion


    ScumLord wrote: »
    Cash has always been like that. Cash is basically worthless unless two people agree it has worth and trade using it.

    The problem I have with electronic payments is your charged for it. If we're forced into a society where banks get a cut of every single transaction ever made on the planet I'm going mad max on this mother.

    There's no reason why we can't have a cashless society where electronic payments are completely free. It's sickening that banks charge for something their computer is doing anyway in milliseconds.

    If your bank is charging you move to the bank that doesnt, it's that simple. Banks play off peoples inertia of moving bank accounts, which is why countless thousands pay fees.


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    #43
    B.A._Baracus
    Registered Users Posts: 11,179 ✭✭✭✭B.A._Baracus


    SafeSurfer wrote: »
    Would you agree to a cashless society if it meant low levels of tax evasion, crime etc, but meant all your transactions were traceable?

    I would not agree to a cashless society. It's banks that are trying to push for this. They see it as cementing a better future for themselves.

    They already charge you for use of an atm or credit card. But that's not good enough. Imagine a world where you have to pay a 'fee' for purchasing a cup of coffee, perhaps a sandwich? ... sounds like a wetdream for banks, doesnt it.


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    #44
    languagenerd
    Registered Users Posts: 3,201 ✭✭✭languagenerd


    ScumLord wrote: »
    Cash has always been like that. Cash is basically worthless unless two people agree it has worth and trade using it.

    I know that. But an entirely cashless society is a whole other level of danger. Your balance could be changed without the actual value of the currency (or whatever we'd call it if it didn't exist in paper form) changing - if a computer program/system was all that decided how much 'money' we had, it'd be possible for a hacker to change yours to zero, or to transfer it all out, or for a system virus to wipe out your entire account. You can't wipe a wad of paper money from existence unless you burn it...

    Obviously the transaction fees, potential price increases and traceability are more important factors, but I don't think we should overlook the above either...


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    #45
    Locanfetzava
    Banned (with Prison Access) Posts: 43 ✭Locanfetzava


    ThreeBlindMice wrote: »
    Didn't the Bible predict some sort of a cashless society?

    Here.


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    #46
    WilyCoyote
    Closed Accounts Posts: 3,059 ✭✭✭WilyCoyote


    Very few cash transactions out here unless it is under a couple of $$. You keep a few coins for parking in the car. Makes life easier just to carry a card.


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    #47
    ThreeBlindMice
    Banned (with Prison Access) Posts: 135 ✭✭ThreeBlindMice


    WilyCoyote wrote: »
    You keep a few coins for parking in the car. Makes life easier just to carry a card.
    You can pay for parking with a text message in most places now.


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    #48
    awec
    Administrators Posts: 53,439 Admin ✭✭✭✭✭awec


    I personally hate carrying cash


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    #49
    ThreeBlindMice
    Banned (with Prison Access) Posts: 135 ✭✭ThreeBlindMice


    awec wrote: »
    I personally hate carrying cash

    Don't mind small amounts but hate carrying anything over €50 as I would either blow it on something stupid or lose it.


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