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Spinoff: When do you think we will do away with hard/paper currency in the US?
Posted on 4/18/16 at 12:12 pm
Posted on 4/18/16 at 12:12 pm
In a world of debt/credit cards and transactions through cell phones (Apple Pay, etc), when do you think hard/paper currency will be gone?
I understand the security concerns, but its so much easier having cards instead of paper and coins
I understand the security concerns, but its so much easier having cards instead of paper and coins
This post was edited on 4/18/16 at 12:17 pm
Posted on 4/18/16 at 12:12 pm to Lake Vegas Tiger
When strippers let you slide your card.
Posted on 4/18/16 at 12:13 pm to Lake Vegas Tiger
quote:
When do you think we will do away with hard currency in the US?
never.
drugs.
Posted on 4/18/16 at 12:13 pm to Lake Vegas Tiger
We still have pennies, so yea.
Posted on 4/18/16 at 12:13 pm to Lake Vegas Tiger
Never. That's some new world order shite man
Posted on 4/18/16 at 12:15 pm to Lake Vegas Tiger
I think there are a few things standing in the way:
1. We are seeing an influx of immigrants who will operate almost exclusively on cash.
2. A growing distrust of banks (who will most likely be the ones to benefit from e-currency).
3. Knowing that nothing is safe from hackers. We are seeing this almost daily.
1. We are seeing an influx of immigrants who will operate almost exclusively on cash.
2. A growing distrust of banks (who will most likely be the ones to benefit from e-currency).
3. Knowing that nothing is safe from hackers. We are seeing this almost daily.
Posted on 4/18/16 at 12:15 pm to Lake Vegas Tiger
I hope I make enough to this before they do away with it...
Posted on 4/18/16 at 12:21 pm to Lake Vegas Tiger
You should have already.
Posted on 4/18/16 at 12:29 pm to Lake Vegas Tiger
Probably shortly after the mandate requiring all citizens have RFID chips implanted under their skin.
This post was edited on 4/18/16 at 12:33 pm
Posted on 4/18/16 at 12:45 pm to Lake Vegas Tiger
It's going to be less than 20 years. Your phone, or whatever mobile device we're using, is going to have all of your stuff on it too. Your cards, IDs, etc. It's basically going to render a wallet obsolete. This kind of stuff is already taking over in Japan because convenience and ease of access are insanely important in their autonomous social structure.
This isn't to say I'm a fan of this shift. I try to always keep at least a little bit of cash on me because you never know when you'll need it.
This isn't to say I'm a fan of this shift. I try to always keep at least a little bit of cash on me because you never know when you'll need it.
Posted on 4/18/16 at 12:51 pm to Lake Vegas Tiger
The paper currency will remain for the foreseeable future, but I think you'll see a growing movement to eliminate the $100 and $50 bills. We will get to the tipping point where the illegal uses of those denominations outweighs the legal uses and/or inconvenience of their elimination.
I don't think anyone will argue that large bills are the preferred method for drugs, money laundering, and tax evasion - the latter of which being the part the pisses me off the most.
I don't think anyone will argue that large bills are the preferred method for drugs, money laundering, and tax evasion - the latter of which being the part the pisses me off the most.
Posted on 4/18/16 at 1:29 pm to Lake Vegas Tiger
Digital will never occur until they can control the generation of 1's and 0's. ALL digital is literally a series of 1's and 0's, how it is rendered is the difference.
Look up the Montana Freedmen from the 1990's. Where they broke the law was in moving fake digital transactions through the banking system. Their false digital uses in having bogus credit cards they created, that stores accepted as valid transactions, may have been immoral but not illegal. (credit is not money, the user agreement contract turns it into currency by agreeing to pay in US $'s. The Montana Freedmen issued their own cards without that US $ part).
As far money laundering goes Gift Cards are already where the big action is. Easy to convert cash into a stack of Prepaid credit cards and gift cards. Have one of those Panamanian shell corporations give a person a title so they can carry a suitcase full of gift cards through customs in the name of corporate activity, voila, illegal cash laundered into spendable currency.
Look up the Montana Freedmen from the 1990's. Where they broke the law was in moving fake digital transactions through the banking system. Their false digital uses in having bogus credit cards they created, that stores accepted as valid transactions, may have been immoral but not illegal. (credit is not money, the user agreement contract turns it into currency by agreeing to pay in US $'s. The Montana Freedmen issued their own cards without that US $ part).
As far money laundering goes Gift Cards are already where the big action is. Easy to convert cash into a stack of Prepaid credit cards and gift cards. Have one of those Panamanian shell corporations give a person a title so they can carry a suitcase full of gift cards through customs in the name of corporate activity, voila, illegal cash laundered into spendable currency.
Posted on 4/18/16 at 1:31 pm to Lake Vegas Tiger
why the fukk would you want to?
I don't wanna ever do away with cash money...
I don't wanna ever do away with cash money...
Posted on 4/18/16 at 1:34 pm to Lake Vegas Tiger
Damn, I had no idea BitCoin was at $430.
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