No Cash Economy

Uncle Mclovin

Will we ever see the day when actual physical money is gone from our society?

With Jack Dorsey recently developing Square Inc the possibility is definitely there.


Benefits include:

Black Market being wiped out

Travellers actually paying taxes

The list goes on.

mikom

No Cash Economy.

Welcome to Ireland.

Uncle Mclovin

Was waiting for the first person in with an anti Fianna Fail joke.

sensibleken

Uncle Mclovin wrote: »

Travellers actually paying taxes

:rolleyes:

El Horseboxo

And the joke about swiping your credit card down the arse of a brazzer will become redundant as they'll be equipped with such a device.

mikom

Uncle Mclovin wrote: »

Was waiting for the first person in with an anti Fianna Fail joke.

You're still waiting so.

D'Agger

Uncle Mclovin wrote: »

Black Market being wiped out

Never gona happen - just like any system there'll always be work-arounds

Uncle Mclovin

mikom wrote: »

You're still waiting so.

This is true.

jackiebaron

Uncle Mclovin wrote: »

Will we ever see the day when actual physical money is gone from our society?

With Jack Dorsey recently developing Square Inc the possibility is definitely there.


Benefits include:

Black Market being wiped out

Travellers actually paying taxes

The list goes on.

Can't see it fully happening. Wouldn't people buy gold to use in the transactions that they didn't want the authorities to track. I know I would.

Celly Smunt

Uncle Mclovin wrote: »

Will we ever see the day when actual physical money is gone from our society?

With Jack Dorsey recently developing Square Inc the possibility is definitely there.


Benefits include:

Black Market being wiped out

Travellers actually paying taxes

The list goes on.

ah here,don't start piling nigerians into the same pile as travellers now

Alter-Ego

I don't like the idea that all my "cash" assets would just be numbers on a screen. I love splashing my wads of cash on the bitches n' ho's.

ejmaztec

El Horseboxo wrote: »

And the joke about swiping your credit card down the arse of a brazzer will become redundant as they'll be equipped with such a device.

You might get a shag for three cabbages and an old harmonica.

Latchy

Scrooge would not approve ....

Pauleta

I think its the eventual plan of banks and governments and will happen eventually. The black market will still exist as i think everyone will have personal chip and pin devices or scanners. Its the future i tells ya.

Krusader

I hope the day never comes, all your purchases can be looked at, people will be able to see what you buy, it has already started with credit/debit/laser cards

Sergeant

I'm in Canada at the moment and the use of plastic over cash is really apparant. People will pay for a newspaper, a cup of coffee, a pack of chewing gum with their debit card. While cash still exists, it doesn't seem to be as vital a part of the everyday economy as in Ireland.

Latchy

Some parts of uk you can pay your bus fare by CC at the swipe machine . I only noticed this myself the other day .

MagicMarker

It's only a matter of time.....

http://www.mobileburn.com/news.jsp?Id=12540

Starbucks mobile phone payments now accepted nationwide

Today Starbucks announced that all of its stores nationwide, nearly 6,800 locations in total, will all accept its Starbucks Card Mobile payment option. Starbucks Card Mobile is an application for BlackBerry and iPhone smartphones that displays a 2D barcode which can be scanned for payment. Users can also refill their Starbucks Card using their phones. The program has been in a test phase in San Francisco, Seattle, and New York. Starbucks says an Android app is in the works.

Sofiztikated

mikom wrote: »

No, Cash Economy!

Welcome to Ireland.

FYP

Dionysus

Uncle Mclovin wrote: »

Will we ever see the day when actual physical money is gone from our society?

With Jack Dorsey recently developing Square Inc the possibility is definitely there.


Benefits include:

Black Market being wiped out

Travellers actually paying taxes

The list goes on.

Have you been reading this article on today's BBC website, or is it just a coincidence?

The BBC thing sounds very interesting: 'A report by the Payments Council, which oversees payments strategy in the UK, said in a recent report that "by 2050, using cash could well be a minority activity"'.

galwayrush

We'll run out of cash first....:pac:

PeakOutput

its inevitable and a good thing imo

Capt'n Midnight

Uncle Mclovin wrote: »

With Jack Dorsey recently developing Square Inc the possibility is definitely there.

not sure why you are pimping whatever that is because the Koreans have already implimented payment by mobile phone at most shops in the country

In Africa they have bypassed banks by using mobile phones to transfer credit and small amounts of cash https://secure.wikimedia.org/wikipedia/en/wiki/M-Pesa

It's happening and proven low cost systems are already in use

RichieC

Dystopia! bring it own!

Mardy Bum

Its all about efficiency. The world has seen bartering as a means of exchange, then grain, bills of exchange and eventually cash all because each step was increasingly more efficient and saved costs. It depends how much the new technology would save in relation to the current methods of payment if it will take over.

Capt'n Midnight

http://www.bbc.co.uk/news/technology-12287009

There are already 11.6 million contactless credit and debit card in circulation.

Users with a contactless mobile, as with contactless cards, will only currently be able to use them for small payments of up to £15.
A Pret a manger shop Pret a Manger is among retailers offering contactless technology

Moving the experience on to the mobile is something consumers want, according to Jason Rees, director of m-payments at Everything Everywhere.

"Studies show that people are more likely to forget their wallets than their mobile phones. Trials have proved that customers love it, they love the simplicity of having their wallet all in one place and it means there is no more need to carry cash," he said.

Ali Babba

PeakOutput wrote: »

its inevitable and a good thing imo

Why is it a good thing? For every transaction to be recorded and taxed? I certainly wouldn't want to see this implemented and the way things have gone here in Ireland I doubt plenty others wouldn't want to see it happen either. It really would be a case of big brother watching you and taxing you too.

Down with this kind of thing I say!!!

PeakOutput

Ali Babba wrote: »

Why is it a good thing? For every transaction to be recorded and taxed? I certainly wouldn't want to see this implemented and the way things have gone here in Ireland I doubt plenty others wouldn't want to see it happen either. It really would be a case of big brother watching you and taxing you too.

Down with this kind of thing I say!!!

1. there are plenty of legal ways to avoid tax so iv nothing to hide

2. the usual privacy laws will apply

3. it is faster / cheaper / more efficient then cash

4. i use my laser for almost everything anyway and it is really annoying when somewhere dosnt accept laser, i will find it even more convenient with an nfc chip in my phone linked to my current account that i can just swipe at check outs and transaction is complete

there are always opponents to progress, thats fine thats their right but i believe it will be a good thing and as long as you dont let the fundamentals of privacy and individual rights laws change then there is nothing to worry about from new technology

yawnstretch

PeakOutput wrote: »

1. there are plenty of legal ways to avoid tax so iv nothing to hide

2. the usual privacy laws will apply

...will be a good thing and as long as you dont let the fundamentals of privacy and individual rights laws change then there is nothing to worry about from new technology

Lol. So when an oppressive government decides to wipe out all your freedoms with new laws which you want to oppose, that won't be something you want to hide?

Privacy laws are ineffective. Privacy is dying because people like you don't value it.

krudler

Probably never happen, I work in a bill payment debt and we still get people paying with cheque, usually farmers who are terrified of anything modern involving plastic cards and still refer to our currency as "pounds", prob have all their money stuffed in a mattress. card payments ftw, always laugh at people queuing for packed ATMS at christmas then using their laser card to withdraw money, err just pay for stuff on the card? its the same thing..

Uncle Mclovin

krudler wrote: »

Probably never happen, I work in a bill payment debt and we still get people paying with cheque, usually farmers who are terrified of anything modern involving plastic cards and still refer to our currency as "pounds", prob have all their money stuffed in a mattress. card payments ftw, always laugh at people queuing for packed ATMS at christmas then using their laser card to withdraw money, err just pay for stuff on the card? its the same thing..

Most self employed people still write cheques. It's an easy way to keep control of what you are spending on.


Personally I see cash been totally fazed out eventually but not until the next generation (30 - 50 years). Theres just too many people who wouldn't have the ability to use the technology needed to make this advancement. For example it takes my poor mother about 1 minute to send a text message.

Dravokivich

Crosáidí wrote: »

I hope the day never comes, all your purchases can be looked at, people will be able to see what you buy, it has already started with credit/debit/laser cards

dam right... not only do they wish to know which butter i use.. they'd probably want to know which side its on too?

:pac:

listermint

El Horseboxo wrote: »

And the joke about swiping your credit card down the arse of a brazzer will become redundant as they'll be equipped with such a device.

No they will just have an NFT receiver put right inside their joy area. The client will have a transmitter on the end of his dooda and when the act takes place you will pay for each thrust. Obvious commercial benefit


http://en.wikipedia.org/wiki/Near_field_communication

PeakOutput

yawnstretch wrote: »

Lol. So when an oppressive government decides to wipe out all your freedoms with new laws which you want to oppose, that won't be something you want to hide?

Privacy laws are ineffective. Privacy is dying because people like you don't value it.

such crap

the two things have nothing to do with each other, if you have a tyrannical goverment you have a tyranical goverment whatever technology is there they will abuse it it has nothing to do with the technology

Tar.Aldarion

cant wait to have RFID cards in our arms and just walk out of the store with it automatically paying

iPlop

Tar.Aldarion wrote: »

cant wait to have RFID cards in our arms and just walk out of the store with it automatically paying

No thanks!

Tar.Aldarion

You won't get a choice. No bowl, stick, stick.

FreudianSlippers

Answer: See this thread.

iPlop

Tar.Aldarion wrote: »

You won't get a choice. No bowl, stick, stick.

Implanted at birth!!!! arrrggghhh 666 The number of the beast

ScumLord

As long as your charged to use a credit or laser card it can't become the default method of payment. It shouldn't cost money to spend money if it does become more common banks should be forced to stop charging to use them.

Tar.Aldarion

Sink The Banana wrote: »

Implanted at birth!!!! arrrggghhh 666 The number of the beast

Some people think the number is actually 616 as that was written a lot too. I hope this eases your implantation process. Please strap him the the table orderlies.