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The current trend of removing cash is a serious mistake

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    #92
    Gatling
    Registered Users Posts: 40,291 ✭✭✭✭Gatling


    Don't need it ,

    Cashless makes more sense and cash is feffing disgusting it's either covered in god knows how much bacteria or its been some yokes sweaty droopy bra ,

    My other half works for a bank and the stories she comes home with about where or what the cash was being taken out of a persons bra and jocks sick
    360_F_102352090_ie3kLjDIvgrT1sxVDknWCUh8PxgMYzM7.jpg




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    #93
    peasant
    Registered Users Posts: 17,819 ✭✭✭✭peasant


    Not normally a conspiracy theorist but ...

    The only way to safeguard against peoples' savings being wiped out instantly by a hostile power at the push of a button is the right and the freedom of hiding them in cash under your mattress if you so desire.
    As long as that potential exists, cash money will always be worth something (even if not its nominal value).

    Electronic figures in electronic accounts can be stolen / deleted by anyone and hence are worthless in reality, especially so once all cash has disappeared.


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    #94
    Lemsiper
    Registered Users Posts: 655 ✭✭✭Lemsiper


    skooterblue2 wrote: »
    I am one of the "Boomers" so I have only heard of these things this week, and the phrase boomer too. As soon as I get working again I will be stacking Silver and Gold.

    I'd check it out for sure. Wifes parents are "Boomers" and exclusively use revolut.

    Good shout on the precious metals though.


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    #95
    RandomViewer
    Registered Users Posts: 6,191 ✭✭✭RandomViewer


    Lemsiper wrote: »
    Ok sound. You're missing the point by creating a very specific narrative.

    I've personally never been in that situation as I dont impulse buy.
    So you want to remove cash but have no knowledge of how most people actually use it?


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    #96
    skooterblue2
    Closed Accounts Posts: 6,816 ✭✭✭skooterblue2


    Lemsiper wrote: »
    Wifes parents are "Boomers" and exclusively use revolut.

    Whats a "Boomer"? I thought it was anyone who was out of touch that was over 30?


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    #97
    Lemsiper
    Registered Users Posts: 655 ✭✭✭Lemsiper


    Dravokivich wrote: »
    What are you on about, usually that's all done before meeting someone. You know what you're going to get and for how much.

    How does technology make it any easier? If an atm was offline, theres usually one right beside it, or in a spar/centra nearby.

    Why shouldn't we use cash? I still dont see the benefit for discouraging the simplest and least complex means of bartering.

    Exactly you arrange your cash in advance. Just like you arrange the necessaries of an electronic transaction beforehand.

    I agree the we should not move completely away from cash but I don't agree the cashless transaction are any more of an inconvenience.


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    #98
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    Dravokivich wrote: »
    What are you on about, usually that's all done before meeting someone. You know what you're going to get and for how much.

    How does technology make it any easier? If an atm was offline, theres usually one right beside it, or in a spar/centra nearby.

    Why shouldn't we use cash? I still dont see the benefit for discouraging the simplest and least complex means of bartering.

    That never happens.


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    #99
    Lemsiper
    Registered Users Posts: 655 ✭✭✭Lemsiper


    skooterblue2 wrote: »
    Whats a "Boomer"? I thought it was anyone who was out of touch that was over 30?

    Slang for magic mushrooms where I'm from.


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    #100
    Lemsiper
    Registered Users Posts: 655 ✭✭✭Lemsiper


    RandomViewer wrote: »
    So you want to remove cash but have no knowledge of how most people actually use it?

    No, as I said I dont want to remove cash.

    I'm merely highlighting how easy and convenient cashless transactions are present day.


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    #101
    meeeeh
    Registered Users Posts: 11,624 ✭✭✭✭meeeeh


    All this type of threads actually show us is that people with Revolout accounts like to tell everyone that they have a Revolout account. A lot.


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    #102
    Amirani
    Moderators, Society & Culture Moderators Posts: 12,521 Mod ✭✭✭✭Amirani


    peasant wrote: »
    Not normally a conspiracy theorist but ...

    The only way to safeguard against peoples' savings being wiped out instantly by a hostile power at the push of a button is the right and the freedom of hiding them in cash under your mattress if you so desire.
    As long as that potential exists, cash money will always be worth something (even if not its nominal value).

    Cash will only have value if the rest of society decides that it will. Cash has no intrinsic value, it only has value because other people are willing to give you goods and services for it. If that changes then the cash under your bed is worthless.


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    #103
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    ReginaldSmythV wrote: »
    That never happens.

    You dont sound too good at knify spoony then.


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    #104
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    meeeeh wrote: »
    All this type of threads actually show us is that people with Revolout accounts like to tell everyone that they have a Revolout account. A lot.

    And you can also be guaranteed you’ll get the “you’re the product” line from someone that thinks they’re the first one to ever say it.


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    #105
    skooterblue2
    Closed Accounts Posts: 6,816 ✭✭✭skooterblue2


    Lemsiper wrote: »
    Slang for magic mushrooms where I'm from.

    I give up, I am totally out of touch. No facebook, no social media, no depression, no smartphone. I dont have anything,


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    #106
    Lemsiper
    Registered Users Posts: 655 ✭✭✭Lemsiper


    skooterblue2 wrote: »
    I give up, I am totally out of touch. No facebook, no social media, no depression, no smartphone. I dont have anything,

    Well if you're happy that way, more power to you.


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    #107
    El Tarangu
    Registered Users Posts: 1,615 ✭✭✭El Tarangu


    peasant wrote: »
    Not normally a conspiracy theorist but ...

    The only way to safeguard against peoples' savings being wiped out instantly by a hostile power at the push of a button is the right and the freedom of hiding them in cash under your mattress if you so desire.
    As long as that potential exists, cash money will always be worth something (even if not its nominal value).

    Electronic figures in electronic accounts can be stolen / deleted by anyone and hence are worthless in reality, especially so once all cash has disappeared.

    Several times in recent history, governments have radically devalued/abolished certain denominations, making peoples' existing store of cash worthless, or worth much less than before (Myanmar, Zimbabwe, Germany, Hungary, I think)- sure, this is not very likely, but about as likely as the scenario you outlined above.

    If you have all your cash stored in your mattress, it can be wiped out instantly in a fire or a burglary - these two events are much, much more likely, and indeed happen all the time.


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    #108
    listermint
    Registered Users Posts: 33,616 ✭✭✭✭listermint


    I'm as big a fan as anyone of contactless and revolut etc..

    But personally very uneasy about the total oblivion of cash transactions. Theres alot at stake and yes privacy being one. This is absolutely expensive data that businesses will fight over .


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    #109
    meeeeh
    Registered Users Posts: 11,624 ✭✭✭✭meeeeh


    ReginaldSmythV wrote: »
    And you can also be guaranteed you’ll get the “you’re the product” line from someone that thinks they’re the first one to ever say it.

    Then don't mention it all the time and you won't get that response.


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    #110
    [Deleted User]
    Posts: 7,712 ✭✭✭ [Deleted User]


    meeeeh wrote: »
    Then don't mention it all the time and you won't get that response.

    You’ll get it anyway, response or not. It’s one of those ones makes someone feel really smart. You can just picture the nod and wink at the end of it as they wait for your mind to blow.


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    #111
    skooterblue2
    Closed Accounts Posts: 6,816 ✭✭✭skooterblue2


    El Tarangu wrote: »
    If you have all your cash stored in your mattress, it can be wiped out instantly in a fire or a burglary - these two events are much, much more likely, and indeed happen all the time.

    that is why you diversify, options, swops, stocks, comodities, property and precious metals. Do not trust the Dollar since they decoupled it from gold in 1972(I think Nixon)?


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    #112
    whisky_galore
    Registered Users Posts: 15,742 ✭✭✭✭whisky_galore


    Jimmy McGill wrote: »
    Cash is king

    Louis XVI was king until he wasn't.


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    #113
    Robert ninja
    Registered Users Posts: 3,878 ✭✭✭Robert ninja


    skooterblue2 wrote: »
    There is NOTHING free in life. There must be some catch. Like Facebook, if the product is free, then the product is you.
    And if we went cashless we wouldn't be using a private foreign company it would be some low-security government trash. Cloud services are not cheap when you multiply accounts by the entire population of Ireland it can get head-spinning.
    El Tarangu wrote: »
    The benefits of getting rid of cash outweigh the drawbacks
    Based on what countries adopted this already I highly contest this. China and India are not what you look to for an example. The social control possibilities can never be justified tbh. How about an education system that actually teaches kids how to manage a feckin' budget? Everything I learned about handling money came from my own reading. My parent and schools had not a clue.
    El Tarangu wrote: »
    its value is still at the mercy of the state.
    The solution to an overpowered state isn't to give it more power or to accelerate the process in a defeatist attitude. Right now you can decide between various banks, accounts, credit unions or secure and maintain the flow of your finances with your own devices. A person can go cashless if they want. Doesn't mean everyone else has to.
    El Tarangu wrote: »
    the answer is to make some form of banking accessible to all
    And who pays for this system? Oh right...
    El Tarangu wrote: »
    not to have people working cash-in-hand, carting all of their savings around with them with the risk of it being robbed,
    Banks are the biggest robbers in history. I know people who wouldn't have a cent to their name by the end of the week. There's no money to rob from them. But sure let's charge them a little bit more for every transaction as I'm sure a government-approved bank account would do. All just in case they get robbed, implying the state gives a shyte about such people or that such a system would be build with their 'protection' in mind.


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    #114
    peasant
    Registered Users Posts: 17,819 ✭✭✭✭peasant


    Amirani wrote: »
    Cash has no intrinsic value, it only has value because other people are willing to give you goods and services for it.

    As long as there is enough cash in circulation for it to be recognizable, it will be tradeable. It may be that the apple you want might cost a tenner instead of 50 c ...but someone will still give you one.

    Your bank card will just be an ice-scraper.


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    #115
    El Tarangu
    Registered Users Posts: 1,615 ✭✭✭El Tarangu


    peasant wrote: »
    As long as there is enough cash in circulation for it to be recognizable, it will be tradeable. It may be that the apple you want might cost a tenner instead of 50 c ...but someone will still give you one.

    Your bank card will just be an ice-scraper.

    You've never seen that photo of the kids using worthless German money as building blocks?


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    #116
    freshpopcorn
    Registered Users Posts: 30,185 ✭✭✭✭freshpopcorn


    If your every accused of a serious crime. They'll be fawning over your cashless transactions. About how your evil for purchasing a roll of tape.
    I can just imagine Nicola Tallant articles on it.


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    #117
    peasant
    Registered Users Posts: 17,819 ✭✭✭✭peasant


    El Tarangu wrote: »
    Several times in recent history, governments have radically devalued/abolished certain denominations, making peoples' existing store of cash worthless, or worth much less than before (Myanmar, Zimbabwe, Germany, Hungary, I think)- sure, this is not very likely, but about as likely as the scenario you outlined above.

    If you have all your cash stored in your mattress, it can be wiped out instantly in a fire or a burglary - these two events are much, much more likely, and indeed happen all the time.

    Not disputing any of that.

    But having cash in circulation still is the best safeguard against the figure in your bank account being replaced by a zero by whoever.

    Why give it up willingly?

    I also use cashless payments regularly and often, I'm not opposed to them, they're convenient.

    But acquiescing as a society to just do away with cash is decidedly inconvenient because it's the final handover of power.


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    #118
    El Tarangu
    Registered Users Posts: 1,615 ✭✭✭El Tarangu


    Robert ninja wrote: »


    And who pays for this system? Oh right...

    Banks are the biggest robbers in history. I know people who wouldn't have a cent to their name by the end of the week. There's no money to rob from them. But sure let's charge them a little bit more for every transaction as I'm sure a government-approved bank account would do. All just in case they get robbed, implying the state gives a shyte about such people or that such a system would be build with their 'protection' in mind.

    One of the reasons banks are expensive is that their overheads are so high - they own or rent expensive real estate in every town in the country, and employ people to staff each of these branches. Many of these expenses are due to the circulation of cash - as others have pointed out, Revolut and N26, and I'm sure there are others, have shown that it is possible to provide banking services free (or almost) at the point of use for the customer - this is possible once you take cash out of the equation.


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    #119
    landofthetree
    Registered Users Posts: 2,301 ✭✭✭landofthetree


    Worldwide a staggering two billion adults do not yet have bank accounts, and an estimated 200 million micro and medium-sized enterprises do not have the access to affordable financial services and credit.


    Cash will be around for a while.


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    #120
    Lyan
    Registered Users Posts: 220 ✭✭Lyan


    Never heard of cryptocurrency OP? There are alternatives that are privacy focused.


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    #121
    El Tarangu
    Registered Users Posts: 1,615 ✭✭✭El Tarangu


    peasant wrote: »
    Not disputing any of that.

    But having cash in circulation still is the best safeguard against the figure in your bank account being replaced by a zero by whoever.

    How much cash do you need to have in order to put this into practice - €2k? €5k? Keeping that much cash on your person/at home at all times carries its own risks - risks which are an order of magnitude more likely to be realised than some irrevocable global financial crash.


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