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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
14
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 12:14 pm to WG_Dawg
I was going to say, I know there are a lot of concerns about big brother monitoring every transaction, but how will the .gov in that scenario run drugs and guns?
Posted on 4/18/16 at 12:14 pm to Stacked
quote:
When strippers let you slide your card.
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 12:19 pm to Stacked
quote:
When strippers let you slide your card.
You could always tip with pre-paid debit cards.
Jokes on them when they realize the next day that the card is used and remaining balance is $0.43.
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 12:33 pm to ManBearTiger
That shite is coming. Just watch your Netflix and eat your soma, Delta.
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 12:50 pm to Lake Vegas Tiger
quote:
never
Posted on 4/18/16 at 12:51 pm to Dixie Normus
quote:yea and they said everyone would be in flying cars in the 21st century.
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.
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 12:53 pm to CarRamrod
I see your point, but this kind of stuff already exists and is heavily used in some economies. I can't say I've ever seen a flying car anywhere.
Posted on 4/18/16 at 12:57 pm to slackster
quote:
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.
That's retarded. Large bills are used to purchase high dollar things. If anything 20s are probably the most commonly used currency for illegal stuff
Posted on 4/18/16 at 1:01 pm to fr33manator
quote:
That's retarded. Large bills are used to purchase high dollar things. If anything 20s are probably the most commonly used currency for illegal stuff
Perhaps I should rephrase - large bills are where you start upsetting the least amount of people and you'll see the tipping point the soonest.
I've got no problem with someone who argues for the convenience of having $100 bills, but you cannot ignore that there are many people who prefer cash payments for the tax evasion just as much as they do the convenience.
Eliminate $100 bills and all of a sudden the 45% of households who do not pay taxes would be a bit lower.
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