Are we going cashless?

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Are we going cashless?

Postby Pixel8r » Tue Mar 01, 2016 7:39 am » Safari 9.0.3 Safari 9.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

More and more talk about the physical cash becoming extinct. Lets use this thread to record anything we can find on it.

This is exactly what the doctor ordered for the monetary precious metals to take off. :D

STRATFOR: A world without cash is looking inevitable

Physical currency is going extinct, according to Stratfor.

In a recent paper, the global forecaster said that the world is on a march to a cashless society and even if there are setbacks the endgame is inevitable.

"All of these trends, allied with the unstoppable progress of technology, will likely make cashless transactions ever more prevalent in the global economy, especially as the emerging economies of Africa and India embrace concepts such as mobile banking," said the note.

The pronouncement was driven by a spat of news regarding the elimination of high denomination currencies.

The euro zone is nearing a decision to eliminate the 500 euro note and Harvard professor Larry Summers has recently called for the end of the $100 bill in the US.

Both moves are being presented as a way to combat criminal activity as few everyday transactions are done in high denomination currency. But according to Stratfor this is simply one part of a larger trend...
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Re: Are we going cashless?

Postby wee Jinky » Tue Mar 01, 2016 10:13 am » Safari 4.0 Safari 4.0  Android Android  Screen Resolution: 1280 x 800 1280 x 800

Do we all need to have card readers so small transactions can take place?
Boot sales, private sales, even the tooth fairy. Will they now all be subject to taxation.
The big crime will be forcing everyone into the hands of bankers and excluding enemies
of the state from the ability to buy/sell anything . It's all about control.
Gold will always be an alternative but that to will be demonised as the money of criminals.
We are heading down a dangerous road.
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Re: Are we going cashless?

Postby Pixel8r » Tue Mar 01, 2016 10:30 am » Safari 9.0.2 Safari 9.0.2  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

wee Jinky » Tue Mar 01, 2016 10:13 am wrote:Do we all need to have card readers so small transactions can take place?
Boot sales, private sales, even the tooth fairy. Will they now all be subject to taxation.
The big crime will be forcing everyone into the hands of bankers and excluding enemies
of the state from the ability to buy/sell anything . It's all about control.
Gold will always be an alternative but that to will be demonised as the money of criminals.
We are heading down a dangerous road.

They are starting with bigger bills and I guess work their way down.
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Re: Are we going cashless?

Postby wee Jinky » Tue Mar 01, 2016 10:42 am » Safari 4.0 Safari 4.0  Android Android  Screen Resolution: 1280 x 800 1280 x 800

I was thinking of getting a few 100trillion Zimbabwe $ notes recently , better get them while I still can :D
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Re: Are we going cashless?

Postby Pixel8r » Tue Mar 01, 2016 11:21 am » Safari 9.0.2 Safari 9.0.2  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

wee Jinky » Tue Mar 01, 2016 10:42 am wrote:I was thinking of getting a few 100trillion Zimbabwe $ notes recently , better get them while I still can :D

I got one of those, am going to get it framed for my office.
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Re: Are we going cashless?

Postby Laura » Tue Mar 01, 2016 12:14 pm » Google Chrome 46.0.245 Google Chrome 46.0.245  Windows Seven Windows Seven  Screen Resolution: 1366 x 768 1366 x 768

Creeping total control is the goal.
The question is how could it be stopped?
If folk wish to revolt & kill each other en route that's their choice. A self-thinning population is the plan anyway.
Shoot this messenger if you wish. All alternatives welcome.

BTW: It's only depressing if you are convinced we are mortal.

NB: To avoid any confusion please quote the above when applying any 'nutter' labels
Sai Baba, when asked the question "What is the purpose of physical life?" responded: "To learn not to do it again."
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Re: Are we going cashless?

Postby headmelter » Tue Mar 01, 2016 6:48 pm » Firefox 44.0 Firefox 44.0  Windows NT 64 bits Windows NT 64 bits  Screen Resolution: 1876 x 1173 1876 x 1173

My personal opinion is it won't happen anytime soon..... The baby boomer generation still deals predominantly in cash & no political party wants to upset them too much.... they always vote

FTR I withdraw all cash following deductions of debits & S.O's and use cash for all the purchases that I can.
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Re: Are we going cashless?

Postby d2thdr » Mon Mar 14, 2016 2:22 pm » Firefox 44.0 Firefox 44.0  Windows Vista Windows Vista  Screen Resolution: 1280 x 800 1280 x 800

http://www.bis.org/review/r160301f.htm

Please do read point no.6

No cashless society ever.
In the world today there are only three assets, gold, oil and currencies. The paper currencies, so long admired and accepted are now in a war of self destruction. They will consume each other in an end battle of "I'm the last man standing but have lost all use as a unit of value".
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Re: Are we going cashless?

Postby Pixel8r » Mon Mar 14, 2016 4:00 pm » Safari 9.0.3 Safari 9.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

d2thdr » Mon Mar 14, 2016 2:22 pm wrote:http://www.bis.org/review/r160301f.htm

Please do read point no.6

No cashless society ever.

Interesting that it talks about the blockchain. Seems to be the way things are going and makes a lot of sense to TPTB, ultimate traceability of transactions.
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Re: Are we going cashless?

Postby d2thdr » Tue Mar 15, 2016 3:23 pm » Firefox 44.0 Firefox 44.0  Windows Vista Windows Vista  Screen Resolution: 1280 x 800 1280 x 800

I do not think they can trace all transactions. Zcash is a step up from bitcoin. CB introducing blockchain ( like recent news about BOE trying to do the same with something called RScoin) is to keep themselves relevant.
http://truthinmedia.com/new-zcash-crypt ... nsactions/
On January 20, developer Zooko Wilcox released an early edition of ZCash, an anonymous alternative cryptocurrency similar to Bitcoin. Wilcox and his team have only released the alpha version of the currency so far, but are promising that transactions will be completely anonymous. Bitcoin was originally conceived as a semi-anonymous currency, but the level of anonymity ultimately depends on precautions taken by the user. ZCash wants to take the level of privacy even further.

As of right now, the transactions being conducted on the ZCash system are not using actual money. The system is not expected to go live for another six months. ZCash will operate similar to Bitcoin by generating currency via the process known as mining. This involves high powered computers solving complex mathematical equations in order to release the coins.
In the world today there are only three assets, gold, oil and currencies. The paper currencies, so long admired and accepted are now in a war of self destruction. They will consume each other in an end battle of "I'm the last man standing but have lost all use as a unit of value".
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Re: Are we going cashless?

Postby Pixel8r » Tue Mar 15, 2016 4:01 pm » Safari 9.0.3 Safari 9.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

d2thdr » Tue Mar 15, 2016 3:23 pm wrote:I do not think they can trace all transactions. Zcash is a step up from bitcoin. CB introducing blockchain ( like recent news about BOE trying to do the same with something called RScoin) is to keep themselves relevant.
http://truthinmedia.com/new-zcash-crypt ... nsactions/
On January 20, developer Zooko Wilcox released an early edition of ZCash, an anonymous alternative cryptocurrency similar to Bitcoin. Wilcox and his team have only released the alpha version of the currency so far, but are promising that transactions will be completely anonymous. Bitcoin was originally conceived as a semi-anonymous currency, but the level of anonymity ultimately depends on precautions taken by the user. ZCash wants to take the level of privacy even further.

As of right now, the transactions being conducted on the ZCash system are not using actual money. The system is not expected to go live for another six months. ZCash will operate similar to Bitcoin by generating currency via the process known as mining. This involves high powered computers solving complex mathematical equations in order to release the coins.

The blockchain is a distributed record of all transactions, so they can be traced it just depends on the system being used.
"Money is Gold, and nothing else"
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Re: Are we going cashless?

Postby Laura » Tue Mar 15, 2016 5:45 pm » Google Chrome 46.0.245 Google Chrome 46.0.245  Windows Seven Windows Seven  Screen Resolution: 1366 x 768 1366 x 768

CB introducing blockchain is to keep themselves relevant.


I shall treasure that line.
d2, are you William Blake reincarnated (& updated)?
Sai Baba, when asked the question "What is the purpose of physical life?" responded: "To learn not to do it again."
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Re: Are we going cashless?

Postby d2thdr » Wed Mar 16, 2016 1:19 pm » Firefox 44.0 Firefox 44.0  Windows Vista Windows Vista  Screen Resolution: 1280 x 800 1280 x 800

Pixel8r sir, Perhaps you are correct. I am not a big fan of Bitcoin, though I can see why it should become relevant. Quantum computing would make 'mining' easy, wont it?

Laura,

William Blake- Oh I wish! On the Shoulders of giants, all of us stand. Reincarnation is what I certainly believe in, but I am worse than a puny midget in front of these highly gifted and talented intellectual giants. I might even be the pestilence. Who knows? All I feel is the world is so disjointed. I am searching is the thread which will lead me to the vantage point from which I can(I hope) view this rich tapestry.
In the world today there are only three assets, gold, oil and currencies. The paper currencies, so long admired and accepted are now in a war of self destruction. They will consume each other in an end battle of "I'm the last man standing but have lost all use as a unit of value".
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Re: Are we going cashless?

Postby Pixel8r » Wed Mar 16, 2016 3:11 pm » Safari 9.0.3 Safari 9.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

I do not think bitcoin will become relevant as a global method of payment, the system has too many flaws in it. I do think that blockchain distributed ledger is the future, it means the verification of ownership without middle men. I see it being used for many things in the future, imagine the efficiencies that it brings to different markets, like stocks and property. The sale of a house could just be done via a website and the ownership transferred via the blockchain.

As computers speed up these sort of systems will develop further. Perhaps this whole financial system meltdown paves the way to a blockchain future.

As far as I know part of the problem with bitcoin is the fact that it is designed for there only to be a certain amount of coins, as it gets closer to the maximum number of coins mining of new coins and therefore verification of transactions becomes harder. They will need quantum computers just to keep it going for small transactions to be verified. There will come a time when fees are introduced for taking bitcoin payments because the verification of the transactions will need to be paid for.
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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