I think this is a good thing. It will prevent Terrorism, and keep us all from buying Porn, so no more onanism or Luciferian child abuse and cannibalism. Also will eliminate drugs.
What is the cost of a cashless society?
21–30 of 294 posts
Re: What is the cost of a cashless society?
#22Earlier quoted context omitted.
If you give me the choice between being able to buy a loaf of bread and having my payments private I'm feeding myself ten times out of ten. I'm not saying that privacy isn't important but I don't think it is the main problem compared to people being unable to use currency.
I'd feed myself nine times and eat leftovers on the tenth. Privacy isn't the most important thing in the world but it's shortsighted to just throw it out the window. You don't need it 'til you need it. It's okay to be friends with people who can't keep a secret but you need to have at least one friend who can.
This comment is identical to the one you responded to.
Re: What is the cost of a cashless society?
#23Earlier quoted context omitted.
If you give me the choice between being able to buy a loaf of bread and having my payments private I'm feeding myself ten times out of ten. I'm not saying that privacy isn't important but I don't think it is the main problem compared to people being unable to use currency.
That's not a real choice because governments will abuse it. If you don't have private, permissionless payments, you face the risk that the government will stop you from buying bread. Don't believe it? Here are some other programs governments have abused: The US put people on the no fly list for refusing to become FBI informants [1]. Canada froze bank accounts of protestors. China abused their COVID tracking app to st…
This is such a childish nonsense response to a nuanced well articulated argument.
Re: What is the cost of a cashless society?
#24Earlier quoted context omitted.
If you give me the choice between a government that tries to force me to cede my autonomy and my privacy in order to buy a loaf of bread or go hungry, I'm sharpening my pitchfork and lighting my torch ten times out of ten.
Governments don't even have to get involved, we are heading in the direction fo functional cashlessness by the influence of corporations and the market alone. Hope you like incinerating fat cats to doom music, my friend.
There are several local governments in the US requiring cash payments specifically because there are still major unbanked segments of the population.
Re: What is the cost of a cashless society?
#25Everybody who talks about how they never use cash and love the convenience of never having to use cash, they all sound just like all the people who loved Google just before their account was terminated for undisclosed reasons.
There's a ton of situations where someone should have their bank account closed. Watch a Kitboga video for an entertaining example.
Re: What is the cost of a cashless society?
#26Another thing to consider in that credit and debit card processing fees, which in the US are substantial, especially for small merchants that can't use large volume to negotiate a discount. This amounts to a ~3% hidden "tax" on all transactions, the bulk of which goes to one of four enormous corporations.
3% is actually not bad for what it gets you: fraud detection, not having to lug cash to the bank every day, reduction of theft and employee mistakes, better recordkeeping for taxes, a way to handle refunds, and cleanliness. Small merchants often use Venmo where I am, and they save 3% in exchange for that awkward dance of sending payments.
Re: What is the cost of a cashless society?
#27Everybody who talks about how they never use cash and love the convenience of never having to use cash, they all sound just like all the people who loved Google just before their account was terminated for undisclosed reasons.
Banks can freeze your account for undisclosed reasons too so I'm not sure I see the point.
That is their point
Re: What is the cost of a cashless society?
#28Everybody who talks about how they never use cash and love the convenience of never having to use cash, they all sound just like all the people who loved Google just before their account was terminated for undisclosed reasons.
Banks can freeze your account for undisclosed reasons too so I'm not sure I see the point.
Cash is the illusion of autonomy and control of one’s financial destiny to those who don’t believe in regulation as a recourse mechanism for financial inclusion.
The solution is not cash, it is regulators who will kick the door in when you’ve suffered injury in the course of using financial infrastructure or services.
Re: What is the cost of a cashless society?
#29Another thing to consider in that credit and debit card processing fees, which in the US are substantial, especially for small merchants that can't use large volume to negotiate a discount. This amounts to a ~3% hidden "tax" on all transactions, the bulk of which goes to one of four enormous corporations.
The US needs to get on top of this. Most other places I know of don't have the cashback cards because they limit the fees that can be charged.
The flip side of this, of course, is that in places with limited fees it is now cheaper for the merchant to use a card than to deal in cash, as cash has to be counted, reconciled and banked, has security requirements for transport etc. In places like the UK and Australia, lots of small merchants now operate in a cashless way because it costs less.
Re: What is the cost of a cashless society?
#30I think this is a good thing. It will prevent Terrorism, and keep us all from buying Porn, so no more onanism or Luciferian child abuse and cannibalism. Also will eliminate drugs.
what’s terrorism?