Cashless transactions

[LuckyDuck]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

But.....I do so love pouring the change into the coin machines.

 

[Anathema]

Why? You have 0 excuse in this day and age for not accepting digital transactions. All you need is a smart phone.

Fees, Government oversight, and Software/hardware issues. For starters. I tend to frequent cash only businesses when I can.

 

[Toddsterpatriot]

Costs a lot of money to make cash. Current 2017 operating budget is 726 million.
The Fed - FAQs

I've been going cashless for several years. Pretty much inevitable as money is nothing but a made up point system anyway.

Costs a lot of money to make cash.

Cash is a huge profit center for the government.

 

[Toddsterpatriot]

Costs a lot of money to make cash. Current 2017 operating budget is 726 million.
The Fed - FAQs

I've been going cashless for several years. Pretty much inevitable as money is nothing but a made up point system anyway.

Great point, petro. Not only that - but it also permits other nations to mess with our economy as they take cash out and flood it back in depending on what they want to achieve.

Also, how much currency is stripped out of the economy because it was lost? You think nobody on the Titanic had money in them? How about every airplane that ever crashed? How about every seat cushion of every house in America?

Digital currency alleviates all of that and more.

Not only that - but it also permits other nations to mess with our economy as they take cash out

How does "taking cash out" mess with our economy.

and flood it back in depending on what they want to achieve.

How does digital currency prevent them from "taking money out and flooding it back in"?

Digital currency alleviates all of that and more.

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

 

[Toddsterpatriot]

my only reason for cash is that i like its privacy .

By the way - just because it's a digital transition doesn't mean you surrender privacy. If I sold you a firearm in a private transaction today and you paid me using PayPal, the government would have no clue what I sold you. They would simply know that you and I had a transaction. Nothing more.

If I sold you a firearm in a private transaction today and you paid me using PayPal, the government would have no clue what I sold you.

So much for "immediately eliminates criminal activity".

It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income.

Transactions aren't income.

 

[Toddsterpatriot]

yea right, the government would never dream of looking for a way to check what targeted (for whatever reason) people were buying.

The fact that you don't even know that the government is already spying on you makes you woefully unqualified to even be having this discussion. The NSA just saw that you typed "yea right, the government would never dream of looking for a way to check what targeted (for whatever reason) people were buying" on USMB. Literally.

The NSA just saw that you typed "yea right, the government would never dream of looking for a way to check what targeted (for whatever reason) people were buying" on USMB. Literally.

Sounds like they already have too much power.
You want to give them more.

 

[Toddsterpatriot]

my only reason for cash is that i like its privacy .

By the way - just because it's a digital transition doesn't mean you surrender privacy. If I sold you a firearm in a private transaction today and you paid me using PayPal, the government would have no clue what I sold you. They would simply know that you and I had a transaction. Nothing more.

yea right, the government would never dream of looking for a way to check what targeted (for whatever reason) people were buying.

And how do they find out what I sold Petro when he wires me $400 in PayPal? Enlighten us chief.

And how do they find out what I sold Petro when he wires me $400 in PayPal? Enlighten us chief.

If a prostitute used PayPal, it ruins your original claim....

It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed.

 

[RodISHI]

There is a bill in Congress right now that will make it illegal to have cash. All income will go straight into your bank account, and there will be a record of everything you use that money for. It is bipartisan.

Is there a number or name on this bill for we can look?

 

[pismoe]

There is a bill in Congress right now that will make it illegal to have cash. All income will go straight into your bank account, and there will be a record of everything you use that money for. It is bipartisan.

I think I know where you read that .........

----------------------------------------------------------------- ALL my 3 main jobs i was able to avoid having direct deposit and was always issued a paper check . --- means nothing , just a comment . As far as cash goes . i will enjoy it while i can .

 

[Moonglow]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

Gotta love the noose tightening...

 

[pismoe]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

Gotta love the noose tightening...

--------------------------------------------- and NOOSE TIGHTENING is what it is Moonglow !!

 

[Moonglow]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

Gotta love the noose tightening...

--------------------------------------------- and NOOSE TIGHTENING is what it is Moonglow !!

I still only let them see a trickle...

 

[P@triot]

Not only that - but it also permits other nations to mess with our economy as they take cash out

How does "taking cash out" mess with our economy.

Holy shit...are you serious? You really don't understand how taking currency out of an economy drastically affects an economy?

Lets see if we can simplify this for you: if we took out all currency from the U.S. economy right now other than $10 - do you think the economy would survive? Lets just say you had that $10. How would Microsoft pay their employees if you had the only $10 in the economy? How would the government pay their people if you had the only $10 in the economy?

 

[depotoo]

Uhhh, one mans opinion. Broad stroke much?

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

The truth comes out about how Republicans want that boot on their neck at all times.

 

[depotoo]

Which still have recorded transactions which I am sure could be subpoenaed And jow do you purchase them without cash?

my problem with cashless is that cashless eliminates privacy in purchases .

Prepaid debit cards.

 

[P@triot]

and flood it back in depending on what they want to achieve.

How does digital currency prevent them from "taking money out and flooding it back in"?

Because the U.S. can "see" it. Right now - do you have any idea how much U.S. currency is lost? Literally hundreds of billions. It's been thrown in "wishing wells" all over the world, been lost in couches, been inadvertently destroyed in fires, etc.

So what does the U.S. do? They constantly print more without any real idea of how much is in circulation and how much isn't. That causes massive fluctuations. Digital "currency" cannot be lost. It cannot be burned. It cannot be thrown into the water at Disney World.

God Almighty, I feel like I'm talking to a room full of 7 year olds. I cannot believe that none of you people are capable of grasping the mountain of serious issues related to paper currency.

 

[P@triot]

Which still have recorded transactions which I am sure could be subpoenaed And jow do you purchase them without cash?

Who cares if the government sees you purchased a prepaid debit or credit card? Once you have that, they can't see what you bought with it. And digital currency already masks purchases.

 

[Toddsterpatriot]

Not only that - but it also permits other nations to mess with our economy as they take cash out

How does "taking cash out" mess with our economy.

Holy shit...are you serious? You really don't understand how taking currency out of an economy drastically affects an economy?

Lets see if we can simplify this for you: if we took out all currency from the U.S. economy right now other than $10 - do you think the economy would survive? Lets just say you had that $10. How would Microsoft pay their employees if you had the only $10 in the economy? How would the government pay their people if you had the only $10 in the economy?

Holy shit...are you serious? You really don't understand how taking currency out of an economy drastically affects an economy?

Educate me.

Lets see if we can simplify this for you: if we took out all currency from the U.S. economy right now other than $10 - do you think the economy would survive?

You're afraid foreigners will take all their money from selling us stuff, and turn it into pallets of $20s and that will hurt our economy? LOL! That's funny.

Lets just say you had that $10. How would Microsoft pay their employees if you had the only $10 in the economy?

Microsoft has bank accounts with billions in them. They would pay their employees like they do today, with checks and direct deposits.

How would the government pay their people if you had the only $10 in the economy?

The US currency outstanding is $1.565 trillion. M2 money supply is almost $14 trillion.

Banks can trade their excess reserve balances for new currency.

When they need new currency, they can order it from the Fed.
The BEP has some really nice printers and they'll be glad to print more to fix
your imaginary "foreigners are gonna take all our cash and screw us" scenario.

 

[P@triot]

Digital currency alleviates all of that and more.

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

Seriously - the only thing "non-existent" is your ability to grasp economic issues. The government already controls currency slick. So it sounds to me like you are one of the many who engage in tax evasion and are terribly concerned about having to carry your share of the burden.

 

[RodISHI]

Which still have recorded transactions which I am sure could be subpoenaed And jow do you purchase them without cash?

Who cares if the government sees you purchased a prepaid debit or credit card? Once you have that, they can't see what you bought with it. And digital currency already masks purchases.

I care as it is none of the bureaucratic tools or the banksters business what, where or how I spend money if I have earned it legally and honestly. Cyber crimes are just as real as paper crimes and going all digital will not stop that. Besides in just the last few years we did not have a phone at all.