[Kerrigan]

I know we're not allowed to have threads about other members, but I read this and thought it was worth posting.

Why cash is a (slowly) dying currency - Ross Gittins - www.theage.com.au

"The position seems to be that while there's been no decline in the value of cash transactions - the value of notes and coins in circulation grows in line with the economy's growth - the value of non-cash transactions is growing faster. So cash is slowly losing market share, so to speak."

What do you think? I still use physical currency quite often, but not on a daily basis anymore.

[Salty]

Physical currency has it's limits but so does electronic transactions. I think the western world will probably move to an all electronic method in the future.

[Sherman Homan]

Cash will never be baninated.

[rickey939]

w00t!

[OldManMac]

Cash will be around for a while, both here and in the economy.

There are still tens of millions of Americans who don't even have a checking account, so they have to use cash, and is he getting pissed!

[OwlBoy]

lawl, "No threads about other users!"

-Owl

[Salty]

Uhh how is this thread about someone? It's about currency!

[Randman]

Currency will always be around but you can get around with no money. For example, I can pay my bills electronically. Use cash cards (not credit or ATM cards) for anything from buying a Diet Coke in a vending machine to taking a cab/bus to buying a Big Mac. Just depends on your lifestyle.

[Eug]

I just wish they would get rid of pennies and nickels in the US and Canada.

And it's about time that the US got rid of the $1 bill.

[besson3c]

Hehhee... this thread is about cash, but there is a member here named Cash too!

[Kerrigan]

I was actually hoping for a loophole so that we could discuss ca$h, and when his latest handle will get banned.

[riley46]

I am just wondering what it would be like in a cashless society. I think I wouldn't be able to cope not seeing the physical currency of my money. I would definitely get bored that's for sure.

[Chooglin']

Uhhh...

There will never be time when physical currency is no longer in existance. Unless there is a nuclear war or something.

The idea that money can be electronic is a fantasy and a delusion caused by the popular use of credit. Electronic credit is completely worthless and is based on partly physical money and partly on future interest money that will never exist becaause there is not enough physical currency in the economy to repay all the interest. Remove the physical money and the whole thing crumbles.

In any case, paper money which is unconstitutional and one of the sources of corruption in any government may soon become so worthless that electronic money is abandoned entirely and replaced with timeless precious metals like gold and silver or with trading goods and services. It's not really a question of "if" but "when"

[Biest]

Originally Posted by Chooglin' 

Uhhh...

There will never be time when physical currency is no longer in existance. Unless there is a nuclear war or something.

The idea that money can be electronic is a fantasy and a delusion caused by the popular use of credit. Electronic credit is completely worthless and is based on partly physical money and partly on future interest money that will never exist becaause there is not enough physical currency in the economy to repay all the interest. Remove the physical money and the whole thing crumbles.

In any case, paper money which is unconstitutional and one of the sources of corruption in any government may soon become so worthless that electronic money is abandoned entirely and replaced with timeless precious metals like gold and silver or with trading goods and services. It's not really a question of "if" but "when"

So when is the world going to end? 4.5 billion years?

Well back to topic... from a more economical point of view cash can not seize to exist. Look on the dollar bill and it says that it will pay for any private or public debts, aka the definition of legal tender. Also it is M0, in economic terms, meaning it is one of the few things that will be excepted whatever the debt is

[abe]

[Dakarʒ]

Bars, Vending Machines, and Fast Food are the only places left I use cash. And not all the time at bars.

[Sherman Homan]

And not all the time at bars.

Yeah, you really can't swipe a credit card for a lap dance.

[Randman]

Originally Posted by Sherman Homan 

Yeah, you really can't swipe a credit card for a lap dance.

Ah, but you can swipe the card for tokens at the more upscale clubs and use those. The dancers reimburse them later.

[turtle777]

Originally Posted by besson3c 

Hehhee... this thread is about cash, but there is a member here named Cash too!

n00b.

-t

[Laminar]

I have nothing to say. I just wanted to be in this thread should it ever get locked.

[Kerrigan]

Go to hell Laminar. You go to hell and you die. There, I said it, what u gonna do now??

[Dakarʒ]

If we're lucky he'll die and go to hell.

[Laminar]

Originally Posted by Kerrigan 

Go to hell Laminar. You go to hell and you die. There, I said it, what u gonna do now??

One day...not too bad.

[turtle777]

IBL.

-t

[besson3c]

Should this thread be in the marketplace forum?

[turtle777]

Originally Posted by besson3c 

Should this thread be in the marketplace forum?

Graveyard forum.

-t

[TheoCryst]

I think cash will slowly become less and less relevant, as it has been for the past several years. I know that I use my debit card far more often than physical currency, and I suspect I am not alone in this. Of course, cash will always be around in one form or another. It's just too deeply ingrained in our society to ever completely vanish.

[Dakarʒ]

Originally Posted by TheoCryst 

I think cash will slowly become less and less relevant

Wait, now I'm confused as to who/what we're talking about.

[Art Vandelay]

I hate cash. I never use it unless I have to. I put everything on my credit card. Cash in my wallet is money not making interest in my account.

[Rumor]

I used to know a lady that used the excuse "soon everything will be on the barter system" to be a packrat.

Good looking daughter though, so I didn't mind the odd ramblings of impending doom.

[ink]

BSD.. MacNN.. and now Ca$h..

What has the internet come to?

[CMYKid]

Originally Posted by Randman 

Ah, but you can swipe the card for tokens at the more upscale clubs and use those. The dancers reimburse them later.

I'm sure you meant "they reimburse the dancers later"... fun fact: The girls usually only get back 60 to 80% when they exchange the house currency for cash. SO...strippers get screwed by ca$h too.

[Kerrigan]

Originally Posted by turtle777 

Graveyard forum.

No I think Besson9c is right, this should be moved to the marketplace forum.

MODS: Please move this thread per Besson's suggestion.

[Laminar]

Originally Posted by CMYKid 

I'm sure you meant "they reimburse the dancers later"... fun fact: The girls usually only get back 60 to 80% when they exchange the house currency for cash. SO...strippers get screwed by ca$h too.

How easy is it to tuck a token in a g-string?

[torsoboy]

Originally Posted by Laminar 

How easy is it to tuck a token in a g-string?

I think that would differ depending on where in the g-string you put it...

[Chuckit]

Originally Posted by Rumor 

I used to know a lady that used the excuse "soon everything will be on the barter system" to be a packrat.

Good looking daughter though, so I didn't mind the odd ramblings of impending doom.

Was the daughter also crazy?

[Kevin]

Hey guyz lets make random comments constantly that has nothing to do with the thread. In every thread.

That makes you look hip and smart. And "In with cool people"

Yes it projects that image. I promise.

In 3 easy steps I can teach you how to be a winner on the internets forum.

 

I just did it, and didn't you notice how cool it made me seem?

[Laminar]

Originally Posted by Kevin 

Hey guyz lets make random comments constantly that has nothing to do with the thread. In every thread.

That makes you look hip and smart. And "In with cool people"

Yes it projects that image. I promise.

In 3 easy steps I can teach you how to be a winner on the internets forum.

 

I just did it, and didn't you notice how cool it made me seem?

Are you making fun of me? Or besson?

[Kevin]

I think it was last Thursday. Not sure... could have been Friday. Why?

Originally Posted by TheoCryst 

I think cash will slowly become less and less relevant, as it has been for the past several years.

I agree.

[Thorzdad]

There's an enormous part of the world that runs exclusively on cash. Even in the US, the cash-only society is huge. And it's not necessarily the exclusive domain of criminals, illegals, or tax-cheats.

Electronic transactions are certainly quick and easy. But it's exactly that convenience (for the consumer) that corporations love. People simply spend more when all they have to do is swipe a card and walk on. Cash is a very handy self-regulator. Plus, it's good anywhere...at least the US dollar is. So far, anyway.

Another reason why cashless transactions are being pushed is the huge amount of consumer data that is collected with the transactions. Companies like VISA make large piles of money selling/sharing the data with marketers and other business partners.

Have you guys seen those VISA commercials lately? The ones where lines of people are moving through checkout lines and swiping their cards? One after one...perfectly synchronized...like robots. Even the music is very mechanical (I believe in one they use "Powerhouse"...often heard in Warner Bros. cartoons) And then one guy pays in cash and the whole machine comes to a shuddering stop.
I have to wonder about those commercials. Portraying your target market as good little robot consumers isn't exactly a positive message. I always applaud the guy with cash. Gotta love a monkey-wrench in the system.

[Gamoe]

Credit is all fine and dandy, but it is also much more easily traceable, making it potentially dangerous in the wrong hands. Who knows what companies will do with our personal buying information, Targeted ads maybe? It also increases the chances of "identity theft".

If cash were eliminated, it would impose the involvement of a third party in *ALL* transactions, whether private or not. Maybe then the government could actually fulfill its dream of taxing everyone and everything in all transactions. Giving a five dollar gift to your child-- you'll be taxed a "gift fee".

Think about it. Making cash obsolete and credit mandatory would give either giant corporations or likely the federal government absolute centralized power over all transactions. This is such a bad idea in so, so many ways, that I would bet even some governments would take issue with it.

I'll continue to use cash and credit when convenient and think it great to have a choice.

[Koralatov]

Originally Posted by Thorzdad 

Plus, it's good anywhere...at least the US dollar is. So far, anyway.

I don't think that will be the case for long if things keep going the way they are. I remember when there was quite a difference between the US and Canadian dollars--now they're about even. The plus side is that, whilst my country is vastly overpriced, because the dollar is currently worth ~£0.50, buying stuff from the States becomes super-cheap (and often more economical than buying it here, even with shipping included).

On the wider subject, cash will never die--it's too convenient. The Economist covered this exact subject a few months back and concluded that the removal of cash from the economy is not a good idea. I agree with their conclusions. It acts as the cornerstone of the credit system and studies have shown that people spend more when it's all debit/credit cards. Plus, smaller businesses get absolutely screwed with charges when they use debit cards--thus leading many small corner-shop to either put a surcharge on purchases paid for via card, or refuse to accept them altogether.

Besides, it seems ludicrous to me that one day, I may not be able to go and empty my bank account and keep it under my bed. Banks shaft their customers enough with cash in the equation. Imagine what it would be like if it was all digital money?

As a plus-point, MMORPG obsessives would love a cashless society. It would be one step closer to people accepting WoW gold in payment for goods. At last, the geek may inherit the earth!

[mpancha]

The day a beggar on the corner pulls out a Credit/Debit swiper is the day cash has died.

[CMYKid]

Originally Posted by Laminar 

How easy is it to tuck a token in a g-string?

...coin in the slot my friend.... ;-)


really they're just clones of regular bills....er, "Diamonds Dollars" at the local place here.

Its a less legit way of cash-advancing your credit card...