11–20 of 498 posts
Denmark Is the most cashless society I have yet experiences (and I have been traveling a fair bit).
This comes with pros and cons. and I think the reason why it works is because of an incredibly high social trust.
I really really really like cashless payments I really really really dislike that my money can be whisked away at the whim of a cray government or a glitch in the system
A government can reduce the purchasing power of cash too. https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis... Or just issuing new money at a rate that exceeds demand for the money (meaning the relative desirability of the money, which relates to the trustworthiness of the community using the money and the economic productivity of the community using the money). Like when the population pyramid starts turn…
I live an hour or so outside of Austin and people still primarily write checks as that's the only acceptable payment method, along with cash. My new wife said, "Wait, why not just use Stripe? I'll tell them." I had to explain to her that one does not simply pull forward a society thirty years into the future. There is an incredible amount of cultural inertia to overcome. So I carry a lot of cash out here.
I'd change if it became an aberration or weird to do but it's just not a problem in general. (And I wouldn't try to pay by check or cash at Walmart for example.)
Earlier quoted context omitted.
A government can reduce the purchasing power of cash too. https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis... Or just issuing new money at a rate that exceeds demand for the money (meaning the relative desirability of the money, which relates to the trustworthiness of the community using the money and the economic productivity of the community using the money). Like when the population pyramid starts turn…
But with cash it cannot "disable" selectively
I Denmark we are removing the 1000kr bill as of May 2025. from then on the highest bill. is 500kr which is roughly equal to 80 usd. Denmark Is the most cashless society I have yet experiences (and I have been traveling a fair bit). This comes with pros and cons. and I think the reason why it works is because of an incredibly high social trust.
I really really really like cashless payments I really really really dislike that my money can be whisked away at the whim of a cray government or a glitch in the system
A government can reduce the purchasing power of cash too. https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis... Or just issuing new money at a rate that exceeds demand for the money (meaning the relative desirability of the money, which relates to the trustworthiness of the community using the money and the economic productivity of the community using the money). Like when the population pyramid starts turn…
I personally started using digital payments once phone touchpay systems came out previously you had to take out cash or card from your wallet to pay so I would still use cash. But once phone payment became common just tapping your phone to pay had a lot less friction than taking out wallet and paying cash or by card.
"State Bank of Pakistan (SBP) data indicates that the Cash in Circulation (CinC) has increased to Rs9. 2 trillion ($32 billion) at the end of June 2023, which is equivalent to 30 per cent of the total money supply (M2), or around 11pc of the national GDP." [0]
I live an hour or so outside of Austin and people still primarily write checks as that's the only acceptable payment method, along with cash. My new wife said, "Wait, why not just use Stripe? I'll tell them." I had to explain to her that one does not simply pull forward a society thirty years into the future. There is an incredible amount of cultural inertia to overcome. So I carry a lot of cash out here.
Maybe I'm getting it wrong - cheques are something I've only seen in films, in my country no bank accepts them since 2020 anymore, they've been completely phased out.