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Post Reply Do you think cash will become obsolete in the future?
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31 / M / That place beyond...
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Posted 7/3/15
I don't think so; but you can pay in some places with your cellphone using electronic transfers in the present
No to mention apple introduced apple pay months ago, I don't know how secure this method is. People can misused this applications to commit fraud and steal money.
For example: I consider Bitcoin a complete failure to introduce a new currency
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24 / M / USA
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Posted 7/3/15
Bitcoin isn't backed by anything other than pure speculation there is no real value behind it. The US dollar is backed by the largest economy in the world. I think cashless systems will eventually be the norm as will living and working part time in virtual spaces. Barring some severe catastrophe I see our world becoming more digital not less.
Posted 7/3/15 , edited 7/11/15
And here I was thinking you were talking about post-scarcity.
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24 / F / United Kingdom
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Posted 7/3/15

biscuitnote wrote:

Bitcoin isn't backed by anything other than pure speculation there is no real value behind it. The US dollar is backed by the largest economy in the world. I think cashless systems will eventually be the norm as will living and working part time in virtual spaces. Barring some severe catastrophe I see our world becoming more digital not less.


I don't think bitcoin can be considered a failure just yet, it's still too new. It's still gaining more use, and is being accepted more and more as a payment method for retailers. Sure, it hasn't completely caught on yet, but I think it has great potential. As of right now it's probably the only cryptocurrency worth paying attention to.
Posted 7/3/15
No it won't
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24 / M / USA
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Posted 7/3/15

fladdermus wrote:


biscuitnote wrote:

Bitcoin isn't backed by anything other than pure speculation there is no real value behind it. The US dollar is backed by the largest economy in the world. I think cashless systems will eventually be the norm as will living and working part time in virtual spaces. Barring some severe catastrophe I see our world becoming more digital not less.


I don't think bitcoin can be considered a failure just yet, it's still too new. It's still gaining more use, and is being accepted more and more as a payment method for retailers. Sure, it hasn't completely caught on yet, but I think it has great potential. As of right now it's probably the only cryptocurrency worth paying attention to.


It has a niche use and its far to complicated to be used by the average layman.
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Posted 7/3/15
Maybe if super-intelligent AI takes our jobs and we get so much produce+3D printing that we they're all free.
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24 / F / United Kingdom
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Posted 7/3/15

biscuitnote wrote:


fladdermus wrote:


biscuitnote wrote:

Bitcoin isn't backed by anything other than pure speculation there is no real value behind it. The US dollar is backed by the largest economy in the world. I think cashless systems will eventually be the norm as will living and working part time in virtual spaces. Barring some severe catastrophe I see our world becoming more digital not less.


I don't think bitcoin can be considered a failure just yet, it's still too new. It's still gaining more use, and is being accepted more and more as a payment method for retailers. Sure, it hasn't completely caught on yet, but I think it has great potential. As of right now it's probably the only cryptocurrency worth paying attention to.


It has a niche use and its far to complicated to be used by the average layman.


Actually I'd say it was easier than dealing with banks. You don't have to go and set an account up, you don't have to do research on the best accounts to go with, no dealing with debit cards or ATMs, or deal with overdrafts or bank charges. You can simply pay and get paid by scanning QR codes. No fuss.

The only thing holding it back is adoption of it as a payment method in more places, and obviously a larger user base.
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Posted 7/3/15
they should probably get rid of the penny.....it probably takes more to make than to use
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38 / M / Kansas
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Posted 7/3/15

FlyinDumpling wrote:

they should probably get rid of the penny.....it probably takes more to make than to use

Couldn't agree more!
Actually, if it were up to me, I'd get rid of the penny, nickel, and dime. Round all transactions up to nearest 0.25 and use the extra as a new tax for education or something.
Then get rid of $1 bills, in favour of $1 coin. No one would complain about having nowhere in the register to put them, with all the space we just freed up. $1 bills wear out quickly, and have to be replaced too quickly. In fact, now that there's extra space, turn $5 and $10 into coins as well.
Really, all this is, is accepting the reality of inflation.
Each of these denominations is worth substantially less than when we began using them in the current increments. What is worth minting/printing should logically compensate.
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22 / M / England
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Posted 7/3/15 , edited 7/3/15
Probably at some point, but not for a long time.
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46 / M / Chapel Hill, N.C
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Posted 7/3/15
Nobody talks about Bitcoin anymore, so I doubt this is going to happen anytime soon. We already have credit and debit cards.
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21 / M / NC
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Posted 7/3/15
Revelations kinda makes it seem that way...
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25 / M
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Posted 7/3/15
I won't say it never will go away, but it will definitely take a couple centuries at least. Even if something is possible, if it's not economical or fails to penetrate the common market then it's going nowhere. There are dozens of very effective ways to replace traditional cash, and have been for many years, but they either require new systems to use or are just too expensive to implement right now.

Think of it like space travel. We can definitely get to outer space, but consider how much it costs per pound to do so. Replacing traditional money is in the same category. Either that, or you lock out several large markets.
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Posted 7/3/15
I haven't used cash in years.
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