Cashless transactions

[Toro]

There will always be cash in our society.

People don't want it to go away.

 

[Toro]

Goodbye privacy and be prepared to get fucked over by globalist banks, corporations and cyber terrorism. Do you trust your life savings to servers? Do you know how those severs are secured?

As someone who works in IT, I would never trust technology that much, and I would never trust the government and corporate globalist pigs either.

Do you keep your savings in a mattress?

Because otherwise, your savings are already on servers.

And it's already overseen by the government and corporate globalist pigs.

 

[P@triot]

I didn't deposit currency.

And yet, when you go to the ATM of your bank, you are somehow magically able to withdraw actual hard currency.

Oh my precious little child. This is so cute. You're confused at how the banking system works. I get it. I have two small children and I have to explain this to them as well. See, when you deposit your check, your bank presents that check to the issuing bank and that bank gives your bank the money.

Why don't you let the adults talk now? I can explain this more later to you, mmm-k?

 

[Toddsterpatriot]

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's not illegal to privately sell a firearm, sparky.

(Holy shit - is there any topic you actually are informed about?)

Didn't say it was illegal to privately sell a firearm.
You could sell a bag of weed and "the government would have no clue what I sold you" DERP!

 

[Toddsterpatriot]

Transactions aren't income.

Tell that to the IRS, sparky.

IRS, my sales revenue isn't my income.

Is there anything about banking, business or taxes that you do understand?

 

[theHawk]

Goodbye privacy and be prepared to get fucked over by globalist banks, corporations and cyber terrorism. Do you trust your life savings to servers? Do you know how those severs are secured?

As someone who works in IT, I would never trust technology that much, and I would never trust the government and corporate globalist pigs either.

Do you keep your savings in a mattress?

Because otherwise, your savings are already on servers.

And it's already overseen by the government and corporate globalist pigs.

True, it pretty much already is. But at least we have the ability to cash out.

 

[P@triot]

Goodbye privacy and be prepared to get fucked over by globalist banks, corporations and cyber terrorism. Do you trust your life savings to servers? Do you know how those severs are secured?

As someone who works in IT, I would never trust technology that much, and I would never trust the government and corporate globalist pigs either.

I've got news for you chief - you already do. Servers are keeping track of your entire wealth as we speak. I guarantee you keep your money in a bank and not in your mattress at home. That means you've already surrendered your hard currency to servers.

 

[Toro]

It also eliminates about 90% of my private (legal) transactions and puts a good number of small businesses out of business.

Why?

 

[Toddsterpatriot]

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.

How do you figure, sparky? That income is now on record.

A. How is she going to avoid paying taxes on in it?

B. How is she going to explain the income when the IRS sees that she is not employed?

Oops...

How do you figure, sparky? That income is now on record.

People don't sell stuff on EBAY at 2:00 AM?

How is she going to avoid paying taxes on in it?

She bought something for $200, she sold it for $200. No gain, no tax.

How is she going to explain the income when the IRS sees that she is not employed?

Why do you need income or a job to sell stuff on EBAY?

 

[P@triot]

Transactions aren't income.

Tell that to the IRS, sparky.

IRS, my sales revenue isn't my income. Is there anything about banking, business or taxes that you do understand?

Really? So your company doesn't get taxes on their sales revenues? Holy shit...

 

[Toro]

True, it pretty much already is. But at least we have the ability to cash out.

As long as there is gold, you'll always have the ability to cash out.

Besides, the OP is never going to happen, at least not in our lifetimes.

 

[P@triot]

How is she going to avoid paying taxes on in it?

She bought something for $200, she sold it for $200. No gain, no tax.

There would be a digital transaction of her buying something for that $200. Where is that transaction, dimwit? You don't understand auditing at all, do you?

 

[Toddsterpatriot]

You said it hurts our economy.

So then we can eliminate all U.S. currency except for a single $1 bill and it won't hurt our economy at all, right sparky?

You afraid foreigners are gonna buy up all our FRNs? LOL!

Way to run from that one, sparky!

So to recap: it is your position that we can eliminate all but a single $1 bill from our economy and it won't affect anything. You've already stated that.

Holy shit. How humiliating. I would never be able to return to USMB if I said something that stupid.

So to recap: it is your position that we can eliminate all but a single $1 bill from our economy

How do you eliminate all that currency?

would never be able to return to USMB if I said something that stupid.

Yes, your confusion and ignorance should stop you from posting again, but based on this thread, it hasn't stopped you yet.

 

[P@triot]

How do you figure, sparky? That income is now on record.

People don't sell stuff on EBAY at 2:00 AM?

You poor, poor little dimwit.

The IRS rules are clear: you must pay taxes on all personal and business income and that includes money you make selling on Ebay.

Understanding Ebay Taxable Income

 

[Toddsterpatriot]

I didn't deposit currency.

And yet, when you go to the ATM of your bank, you are somehow magically able to withdraw actual hard currency.

Oh my precious little child. This is so cute. You're confused at how the banking system works. I get it. I have two small children and I have to explain this to them as well. See, when you deposit your check, your bank presents that check to the issuing bank and that bank gives your bank the money.

Why don't you let the adults talk now? I can explain this more later to you, mmm-k?

And yet, when you go to the ATM of your bank, you are somehow magically able to withdraw actual hard currency.

And yet, there isn't $14 trillion in currency available.

See, when you deposit your check, your bank presents that check to the issuing bank and that bank gives your bank the money.

And none of it is currency.

Why don't you let the adults talk now?

Sounds good. If one walks past you, put him on.

 

[P@triot]

So to recap: it is your position that we can eliminate all but a single $1 bill from our economy

How do you eliminate all that currency?

So now you're going to play this juvenile, disingenuous game because you've been proven wrong and your ego is too big to admit it?

It was a hypothetical. You made an outrageously ignorant claim that removing currency from our economy has no impact. I had to dumb it down to your level and give a hypothetical. The fact is, that hypothetical gave you no where to run with your idiotic position and now you're left just being an ass because of your fragile ego.

The indisputable, undeniable reality is: removing currency from an economy has a major and very detrimental impact on an economy. It's how nations engage in economic warfare on each other.

 

[Toddsterpatriot]

Transactions aren't income.

Tell that to the IRS, sparky.

IRS, my sales revenue isn't my income. Is there anything about banking, business or taxes that you do understand?

Really? So your company doesn't get taxes on their sales revenues? Holy shit...

So your company doesn't get taxes on their sales revenues?

No. Companies don't pay tax on their sales revenue.

 

[P@triot]

would never be able to return to USMB if I said something that stupid.

Yes, your confusion and ignorance should stop you from posting again, but based on this thread, it hasn't stopped you yet.

Whoah! Toddsterpatriot bringing it strong with the "I'm rubber...your glue" response! You really do live in your parents house still, uh junior?

 

[Toddsterpatriot]

How is she going to avoid paying taxes on in it?

She bought something for $200, she sold it for $200. No gain, no tax.

There would be a digital transaction of her buying something for that $200. Where is that transaction, dimwit? You don't understand auditing at all, do you?

There would be a digital transaction of her buying something for that $200.

There is a digital transaction for everything you own? Everything I own?

 

[Toddsterpatriot]

How do you figure, sparky? That income is now on record.

People don't sell stuff on EBAY at 2:00 AM?

You poor, poor little dimwit.

The IRS rules are clear: you must pay taxes on all personal and business income and that includes money you make selling on Ebay.

Understanding Ebay Taxable Income

Taxable income is not sales revenue.