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No Cash Economy

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  • 27-01-2011 5:49pm
    #1
    Uncle Mclovin
    Registered Users Posts: 692 ✭✭✭


    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.


«1

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    #2
    mikom
    Closed Accounts Posts: 16,391 ✭✭✭✭mikom


    No Cash Economy.

    Welcome to Ireland.


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    #3
    Uncle Mclovin
    Registered Users Posts: 692 ✭✭✭Uncle Mclovin


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


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    #4
    sensibleken
    Closed Accounts Posts: 5,650 ✭✭✭sensibleken


    Uncle Mclovin wrote: »
    Travellers actually paying taxes

    :rolleyes:


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    #5
    El Horseboxo
    Registered Users Posts: 5,339 ✭✭✭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.


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    #6
    mikom
    Closed Accounts Posts: 16,391 ✭✭✭✭mikom


    Uncle Mclovin wrote: »
    Was waiting for the first person in with an anti Fianna Fail joke.

    You're still waiting so.


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    #7
    D'Agger
    Registered Users Posts: 13,385 ✭✭✭✭D'Agger


    Uncle Mclovin wrote: »
    Black Market being wiped out

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


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    #8
    Uncle Mclovin
    Registered Users Posts: 692 ✭✭✭Uncle Mclovin


    mikom wrote: »
    You're still waiting so.


    This is true.


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    #9
    jackiebaron
    Closed Accounts Posts: 3,038 ✭✭✭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.


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    #10
    Celly Smunt
    Banned (with Prison Access) Posts: 9,464 ✭✭✭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


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    #11
    Alter-Ego
    Registered Users Posts: 2,324 ✭✭✭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.


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    #12
    ejmaztec
    Registered Users Posts: 23,994 ✭✭✭✭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.


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    #13
    Latchy
    Closed Accounts Posts: 21,191 ✭✭✭✭Latchy


    Scrooge would not approve ....


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    #14
    Pauleta
    Closed Accounts Posts: 2,778 ✭✭✭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.


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    #15
    Krusader
    Registered Users Posts: 4,057 ✭✭✭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


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    #16
    Sergeant
    Closed Accounts Posts: 9,362 ✭✭✭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.


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    #17
    Latchy
    Closed Accounts Posts: 21,191 ✭✭✭✭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 .


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    #18
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭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.


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    #19
    Sofiztikated
    Registered Users Posts: 6,995 ✭✭✭Sofiztikated


    mikom wrote: »
    No, Cash Economy!

    Welcome to Ireland.

    FYP


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    #20
    Dionysus
    Registered Users Posts: 3,420 ✭✭✭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"'.


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    #21
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


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


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    #22
    PeakOutput
    Registered Users Posts: 7,639 ✭✭✭PeakOutput


    its inevitable and a good thing imo


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    #23
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,877 Mod ✭✭✭✭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


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    #24
    RichieC
    Closed Accounts Posts: 7,333 ✭✭✭RichieC


    Dystopia! bring it own!


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    #25
    Mardy Bum
    Registered Users Posts: 3,674 ✭✭✭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.


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    #26
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,877 Mod ✭✭✭✭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.


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    #27
    Ali Babba
    Closed Accounts Posts: 874 ✭✭✭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!!!


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    #28
    PeakOutput
    Registered Users Posts: 7,639 ✭✭✭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


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    #29
    yawnstretch
    Registered Users Posts: 861 ✭✭✭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.


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    #30
    krudler
    Registered Users Posts: 34,788 ✭✭✭✭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..


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    #31
    Uncle Mclovin
    Registered Users Posts: 692 ✭✭✭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.


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