The end of physical cash

[mac33]

[ROBOAK]

the great reset will deal with this pesky "cash" problem,  when $100 bill is worth $.00001 you will be begging for the new DC

[Mayday]

the great reset will deal with this pesky "cash" problem,  when $100 bill is worth $.00001 you will be begging for the new DC

My call on this is we will see the opposite. **Edit just to clarify I mean post CBDC is where cash might become more valuable**

For a short period we should see physical notes increase above their labelled value. Black market etc.

The number would no longer represent the purchasing power but rather the note is the value determined by those not wanting to be traced.

eventually an alternative method will be found and those remaining will stop using notes due to the hassle of it.

[mphgrove]

Australia seems like kind of a mess on this front. There is a bifurcation going on where some of the more affluent nations are moving in a cashless direction, but my take is that this is only a segment of the planet (Australia, the most affluent Western European nations, upper crust demographics in U.S.). With 18 billion individual hundred dollar bill notes being hoarded and circulated far and wide around the world, I see dollar cash as quite unlikely to fade out for a good long while. Try traveling just about anywhere outside Western Europe and US with dollar cash in your pocket and listen to the sucking sound.

[Irongrip400]

My call on this is we will see the opposite.

For a short period we should see physical notes increase above their labelled value. Black market etc.

The number would no longer represent the purchasing power but rather the note is the value determined by those not wanting to be traced.

eventually an alternative method will be found and those remaining will stop using notes due to the hassle of it.

It’s already kind of like that now. I ask for a cash discount when I buy or pay for things and if it’s not at least 20% discount I pay with a check or credit card.

[mphgrove]

It’s already kind of like that now. I ask for a cash discount when I buy or pay for things and if it’s not at least 20% discount I pay with a check or credit card.

It’s already kind of like that now. I ask for a cash discount when I buy or pay for things and if it’s not at least 20% discount I pay with a check or credit card.

Well ok, you get credit card points and you don’t have to take time out to get cash from the bank. Just curious: do many sellers seem to want cash? Do they express interest in giving you a discount (obviously not a full 20% I guess).

[honest]

Australia is becoming a socialist shitehole, settled by convicts now governed by them. Place is over governed, with 1 in 3 jobs being in government.

[Humble Narcissist]

Australia is becoming a socialist shitehole, settled by convicts now governed by them. Place is over governed, with 1 in 3 jobs being in government.

The US is headed in that direction.

[Griffith]

In Italy the cash limit is € 999.99.

Anything over requires a bank transfer or proof of purchase which must be provided to your bank, which then 'allows' you to withdraw your own cash 

[FitnessFrenzy]

will removing cash really make things difficult for criminals?

Won't they just deal in gold or bitcoin?

[mphgrove]

Here is a contrast (both Europe but neither using Euro)

Sweden -  less than 5 percent of sales transactions in cash (2022)

Romania - 80% of sales transactions in cash

Is one more representative of the world at large and the future than the other?

[joswift]

Here is a contrast (Europe):

Sweden -  less than 5 percent of sales transactions in cash (2022)
Romania - 80% of sales transactions in cash

Is one more representative of the world at large and the future than the other?

thats why they werent forced to lockdown with everyone else during covid...

[Rmj11]

[Tapeworm]

Australia is becoming a socialist shitehole, settled by convicts now governed by them. Place is over governed, with 1 in 3 jobs being in government.

It's a great place but the people are almost entirely selfish stupid cowards. Maybe it's by nature, maybe by conditioning.

If the US defense umbrella is withdrawn this place is done in 72 hours. They talk mad shit about being Aussie but maybe a half a percent would mount a guerrilla action and the rest would turn them in to the new masters.

I gotta call bs on 1 in 3 people working for the government tho. Some heavy fuckery to reach that stat.

I'd bitch about the gov but I don't know if it'll get me a visit, and I'm not even joking.

[honest]

It's a great place but the people are almost entirely selfish stupid cowards. Maybe it's by nature, maybe by conditioning.

If the US defense umbrella is withdrawn this place is done in 72 hours. They talk mad shit about being Aussie but maybe a half a percent would mount a guerrilla action and the rest would turn them in to the new masters.

I gotta call bs on 1 in 3 people working for the government tho. Some heavy fuckery to reach that stat.

I'd bitch about the gov but I don't know if it'll get me a visit, and I'm not even joking.

2.6 million out of total population of 25 million work in federal and state government, then the largest employer in all major cities are local government or councils. 20% are retired 20% are still at school, do the maths. Its the Greece of the south Pacific, if they didn't have Iron ore, coal and gas and an abundance of it, they would have gone broke years ago.

[Marty Champions]

This z a gayy paranoi thread. Shit coin is da same investment as stockpiling a non perishable good and selling it of when the demand goex up the price goes up simple as that

[Irongrip400]

Well ok, you get credit card points and you don’t have to take time out to get cash from the bank. Just curious: do many sellers seem to want cash? Do they express interest in giving you a discount (obviously not a full 20% I guess).

I use the cash for certain things only, mostly vacations and some groceries and stuff like that. I use points to pay for flights, but to rent houses and stuff like that I use cash. I went on a boat trip the other day and got 15% cash discount and was happy with that. I don’t keep a shit load of it, but I do use it for mostly vacations. I also have used a travel agent in the past who took cash and it didn’t matter the amount.

[obsidian]

I very rarely use cash these days. A few years ago I paid a buddy in cash who did some electrical work for me. Now I do my own electrical work! 

[obsidian]

Well ok, you get credit card points and you don’t have to take time out to get cash from the bank. Just curious: do many sellers seem to want cash? Do they express interest in giving you a discount (obviously not a full 20% I guess).

Credit card points really add up over time. I've received thousands of dollars in cash-back rewards over the years. I keep telling my wife to stop using her debit card at the grocery store and use a credit card that offers points. I charge utilities on credit cards and get points for those. These are expenses that you have to make regardless. So might as well get something back via rewards.

[obsidian]

It's a great place but the people are almost entirely selfish stupid cowards. Maybe it's by nature, maybe by conditioning.

If the US defense umbrella is withdrawn this place is done in 72 hours. They talk mad shit about being Aussie but maybe a half a percent would mount a guerrilla action and the rest would turn them in to the new masters.

I gotta call bs on 1 in 3 people working for the government tho. Some heavy fuckery to reach that stat.

I'd bitch about the gov but I don't know if it'll get me a visit, and I'm not even joking.

These skinheads tried to fight back against the "billions" of hords 

[Tapeworm]

Are you not seen Crowe lately? More like Blimper Blobber.

[sync pulse]

I am trying to break the plastic habit.
I use cash whenever I can and paper checks through the US Mail.  I find that I have much more money left over each month then before.

I work with telecom...so I am a contrarian...

[Chubz]

Digital currency is just another sign of the times coming to fruition. We r seeing the bible play out before our eyes

Spot on, most cannot and will not see this. It’s a done deal digital currency/passports are coming and unless you take your mandatory jabs/vaccines you will not be allowed in the new beast system, you will be an outcast.

[ThisisOverload]

I never use cash anymore, except when i'm buying something i don't want the IRS to know about.

With all the travel rewards and cash back perks from a card these days, why not?

Cash isn't worth anything anyway. It's just numbers on a server somewhere.

[Kwon]

These skinheads tried to fight back against the "billions" of hords 

Never seen Russell so skinny before!