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Cashless Australia

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james_s:
I don't think cash will completely go away in the foreseeable future. There will always be some non-electronic way of transferring wealth. It's just going to keep becoming more and more of a niche thing.

Stray Electron:

--- Quote from: vad on March 09, 2021, 04:23:30 am ---
--- Quote from: Stray Electron on March 09, 2021, 12:13:07 am ---Not around here anymore!  Very few store even have the mechanical card swipe machines anymore and none of the brainless employees knows how to fill in a form.

--- End quote ---
You don’t need to have the mechanical card swipe machine for offline processing, although these can still be in use. Electronic payment terminals can do offline authorization.

--- End quote ---

    I  guess that you didn't bother to read my statement. The computer mother board that the store's cash register/CC Processing machine was DEAD!  It seems hard to believe that a modern business would be reliant on a single computer but many of them are. I can't count the number of times that I have been a business that had operational cash registers (dumb terminals) but all connected to one computer and it was acting up so they couldn't conduct any business. Maybe they CAN do offline authorizations but they don't! They just tell you to come back later.  I've even seen that in doctors' and dentist's offices. There's so much fraud around here involving medical insurance that every office waits until you're literally standing in front of them before they go online or call and check that your insurance is still valid. If they can't connect or if their computer or the the insurance company's computer isn't working and they can't get validation then you don't get seen!

Stray Electron:

--- Quote from: cdev on March 09, 2021, 08:19:32 pm ---
Did you read Norbert Haering's series
https://norberthaering.de

on the Indian demonetization actually being caused by a cabal of big US companies? This seems quite possible.. They just drool over the free money they will get from all this.... regulation..
If people have no choice.. Its kind of like that now with corona virus.. people have no choice but to transact and interact online.

This is why the privacy rules should be enhanced. Frankly, I would like to see much mkore online prvacy and I would also like to see the huge firms broken up. No part of them should be too big to fail. Also, there is a need for more privacy online. The user tracking is going to spiral out of control, I can see it going that way. It will become like George Orwell's 1984 but worse.

Peoples devices will become a surveillance nightmare.  There will be no freedom as the corporations become able to manipulate peoples lives in every possible way. They will have incredible power to get what they want. Politics will become more and more corrupt with no means of control by the public.

At least that uis where I think this is taking us. As an American I don't think this coulntry can afford all the decisions that are being made for corporations. IMHO People are naive and gullible and dont realize what the mega corporations are planning for them. They don't have even the foggiest clue.

--- End quote ---

   I completely with you on all points. The growing lack of privacy in the US is appalling and people's willingness to willingly give it up in the form of Apps and other software like FaceBook and Google is just mind boggling.

     I haven't seen Haering's series but i will look into them.  A good friend of mine (actually several) is Indian and his family lost a TON of money in the recent demonetization.  Like many Indian families they had been sitting on their cash and they were only allowed to trade in a small portion of it so the majority of their cash suddenly became worthless. Shivan told me that only something like 15% of all of the cash in India was redeemed.  Just think of all of that currency that the government of India no longer has the legal responsibility to redeem! I guess that now, they're free to print Trillions more and are free to spend it as well. 

Stray Electron:

--- Quote from: james_s on March 09, 2021, 08:35:34 pm ---
--- Quote from: Stray Electron on March 09, 2021, 01:23:55 pm ---  In the US and many other countries, the drug trade will ensure that cash will remains King* for a long time to come!   Drugs and other underground economies are another BIG reason that the US and other governments are stublely trying to force a switch to a cashless economy.

  For the benefit of the ones of you that aren't in the US and aren't familiar with their idioms, there is a saying in business that "Cash is King". Meaning that it's acceptable or even preferred in most transactions.

--- End quote ---

I know some people have that mentality, although for me personally cash is a nuisance for a transaction of more than $100 or so. I don't want to walk around carrying a large amount of cash so if somebody pays me in cash I have to go straight to the bank to deposit it. If someone pays me digitally I don't have to do anything more, the money changes hands and I don't have to carry anything physical.

--- End quote ---

  I'm like you. I keep around a thousand dollars in cash at home but usually only have perhaps 3 $20 bills on me when I'm out and about. And those usually last me for WEEKS.  I generally pay for everything with a credit card. OTOH I do stay well stocked on fuel, food and water and anything else that I consider essential (TP!) so outages and short term shortages rarely affect me.  My regular checks are direct deposited and we make nearly all of our payments electronically.  Groceries, fuel, meals out and anything that we order is all paid for via CCs and we pay the CC companies at the end of each month electronically. We write exactly two checks per year, both to the local county and for property taxes and for automobile registrations. We would pay those with a CC or electronically but they charge a hefty fee for using those so we just write two checks.

  Unless someone is going to give me a discount for paying cash, I just pay for everything with a CC and I avoid the hassles of carrying cash and having to make or take change.

Rerouter:
I do not feel compfortable unless i have about $100 in cash on me for all the debt style transactions. E.g. eating at a resteraunt or fueling my car. If something goes south i much prefer to pay cash than have to hand over something in collateral.

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