Are you ready to get rid of paper currency altogether in favor of digital only currency?

[Anonymous]

[bolverk]

No, even if digital currency was promoted in the UK I'd still favour hard currency as it is still usable when the networks crash, power is down, At the moment I withdraw the majority of my funds from the Bank/Mutual leaving just enough plus 10% to cover my regular bills, everything else goes into my home safe, a mix of coins and notes.

I use a prepaid debit card for use over the internet as it reduces any liability to the account being hacked it usually only has a couple of £ on it, I load it with the amount of what I'm going to order a couple of hours before I place the order,

I do not trust any of the Proposed Central Bank Digital Currency's as they tried it out in India November 2016, The immediate fallout was chaos, as the country scrambled to cope. There was a rush at banks and ATMs to exchange old notes and withdraw new currency. Queues at banks grew; many people suffered, especially the poor, who had no access to credit cards or mobile wallets; and dozens of deaths resulting from the crisis were reported.

As always it will be the poor who will have the biggest problems as they have no debit/credit cards or mobile phones, if they do they are usually 'dumb' phones, none which to have ability to use mobile wallets, there are more people out there who do not have a smart phone, they do not want one and do not trust them for 'mobile banking' citing that they do not think they are secure enough, and quite frankly I agree with them.

[milyjohn]

This goes way beyond debit cards. This will be total government control of what you can and can't buy.

[YesterdaysChild]

@bolverk But if no store, or anyone else, any longer recognizes cash, you would have no choice but to accept it. Remember when everyone had to turn in their gold to the government when they went off the gold standard and our money was no longer backed by gold? What if the government no longer recognizes gold as legal tender? All these people who bought gold would be stuck with what amounts to as lead weights. We had silver certificates once where you could take your dollar to the bank and get a dollar's worth of silver. But after a certain date you could no longer do that so that all your silver certificates were only worth face value no matter what the price of silver was. The government can do whatever they want and you would either have to comply or starve.

[zeitgeist057]

@milyjohn I don't think you understand digital currency. The whole point of it is to DE-centralize currency so that government DOESN'T have control of your currency.

Do you know who owns and runs Bitcoin? Like where the HQ is, and who mints BTC?

[bolverk]

@zeitgeist057 Not the way that each countries are wanting to implement Central Bank Digital Currency's this would not DE-centralize currency, but quite the opposite, the whole idea of them is to integrate every piece of information the government hold on you under a 'Digital ID' Tony Blair tried to implement it it in the UK in 2006, the UK Public rejected it outright.

[zeitgeist057]

@bolverk okay, but I don't see those details anywhere in the question. and @yesterdayschild gold will still have value and not turn into "lumps of lead" lol. It has an intrinsic value, like potable water or the food in your refrigerator. Gold is a valuable metal that has a usefulness in conductivity and crafting. Just like your food won't turn into lead, neither will gold. They both have a use outside of a mode of exchange. And not everyone "turned their gold in", many people held it, buried it, &c.

[YesterdaysChild]

@zeitgeist057 And who is going to accept that gold? No stores or the mortgage industry, or whom you pay your utility and taxes to. Maybe someone who uses gold in jewelry making, but the value will no longer be there if it is not recognized by the government. That is why we were taken off the gold standard. So that the government could spend trillions more than they have.

[zeitgeist057]

@YesterdaysChild really you think everyone is just going to toss their wedding bands in the trash "because the government said so" and now all jewelry is worthless?

LMGTFY, many more uses for gold: www.google.com/search

Electronics
Dentistry
Jewelry
Aerospace
Space exploration
Alcoholic drinks
Cosmetics and Beauty
Gold in electronics
In space
Investment
Medicine
Gold is found in most computers
Gold is not toxic
Making glass
Medals and awards
Medical uses
Mobile phone
Printing
Gold in food industry
Wealth protection and a financial exchange
Gold leaf and glassmaking

So unless you think they are going to stop the space program, stop dentistry, stop making computers and cell phones, along with this fantasy that everyone is going to stop buying jewelry, there is really no merit to this argument.

[zeitgeist057]

@YesterdaysChild Also, could you elaborate on "the value will no longer be there if it is not recognized by the government. That's why we were taken off the gold standard." ?

I do want to clarify I don't think having a gold standard is a good idea, I am only arguing that gold has value regardless whether a government says it does or not.

This whole tangent started when you tried to compare gold (which has intrinsic value) to the paper currency printed by the government. If the government won't honor its currency, it loses value. The same is not true for gold. The paper currency is just paper, the value it has is very limited. In some countries, people started using their currency for toilet paper and starting their fires, because it was less valuable than toilet paper. But gold is much more useful than paper.

[YesterdaysChild]

@zeitgeist057 OK, look at it this way. In the near future people will be required to have a chip implanted in their wrist that has the record of all your money. It would be like using a debit card, except you just swipe your hand across something and your payment is made without using a pin number. Now, the government requires you to have this chip or you can't buy or sell. Cash will no longer be accepted, nor gold because with the system everything is done with a computer. So when this happens gold will do you no good and the people who hoarded gold will have no place to sell them because everything will be controlled by the government and they will make the IRS look like kids selling lemonade. I'm sure there will be bartering going on but your normal every day financial dealing will be governed and you can't sell or buy anything without this "mark" on your wrist. So owning gold would do no good after this happen. It would have to have been turned in at it's inception and if not you could not se,, it later without severe penalties. In other words, the government would know everything you spend money on and every cent you make. They will have you by the balls and squeezing harder every day.

[zeitgeist057]

@YesterdaysChild If you expand on the idea and create some engaging characters, that could make for a decent plot to a science fiction book.
Not completely unimaginable for it to actually happen, but that's part of what makes science fiction so fun. Of course, there's also a high likelihood none of what you are hypothesizing will come to pass, which is also true of many science fiction plots.

[zeitgeist057]

but for now, based on reality and without any fantastic conjectures, gold retains its value.

[OlderAndWiser]

Digital currency means that every single transaction is recorded and can be accessed by our government whenever they want. No, I don't want the government to gain more power over our lives.

[Paris13]

Good One!!! xxoo

[milyjohn]

I listened to a fascinating expert on this subject. It goes like this...

Store machine: I'm sorry, Mr Wiser, but you bought beer last month. Your next beer purchase eligibility will be on October 7th. Have a nice day.

We joke about AOC wanting to get rid of cows, but they will easily be able to do it once the new communist government takes control of the money.

[OlderAndWiser]

@milyjohn People will laugh because that end result seems so far removed from what our society is like today. But people who want to engineer radical change usually have enough sense to approach it in small increments that gradually accelerate. Hitler did not begin with killing Jews, but it only took him less than ten years to have his killing machine fully functional. And whenever I make this observation, liberals laugh.

[milyjohn]

It's like trying to see the minute hand on a watch. You would swear it did't.

[DARKCLOUD1945X]

Never mind knowing but if they need money they can type in a code and relieve every account of $ 1,5,25, 50 ,10000 dollars out of your account and you know they will never pay it back. The less the Government knows about you and me the better

[DizzyDesii]

Im not big on tech and digital shit. I prefer the paper. I have an old school mindset despite being a 90s baby. Shit i rather read the comics of a physical newspaper than an online article

[Paris13]

I am Not in Favor Much Now for paper But Less in Favor of Our Govt Taking Control of My Money, honey!! xxoo

[Paris13]

Tanks To Gag. xxoo

[SeymourBill420]

No, not at all. I hate transacting with digital currency or anything over the internet. If my money was only virtual, I can't imagine what's going to happen when and if the internet crashes. I certainly will not rely on something that I can't touch and feel with my assets. Plus, if you're doing something not so legal. It's best to use cash. It's less traceable. And less footprints left behind.
But overall, no because I don't trust the internet. It may not be here one day. That's a very easy way to shut down an economy

[SeymourBill420]

And another thing you got to worry about with some payment processors, you got to worry about very smart hackers that might want to get in and steal your money digitally and poof gone

[Peter_Penetrator]

Once my paycheck is deposited l have already budgeted for my bill payments to be automatically withdrawn. Some also goes into savings, then what is left over goes to a prepaid debit card and cash into my pocket and l rathole some of that cash.


Both cash and my prepaid debit card allowances are stretched from paycheck to paycheck. I then no longer need to record my disposable income in a check register as it is spent.


The one credit card l do have has a low credit limit and after emergency credit card payments, l budget to pay that off asap.


I don’t have to worry with bounced check fees or bounced checks being sent to the prosecuting attorney’s office. I write one check a month and that is only because that local utility is not set up for electronic payments.


So, l don’t want nor see the end of paper money happening in what is left to my time on this earth.

[BoopBoopBeep]

Nope. I'll be sticking with cash. No more tangible USD just means I'm going to Euro (or whatever) whoever is last to switch will be come a currency powerhouse because there's always going to be a good deal of transactions that want less of a papertrail.

[sawno]

The euro is front running this so bad pick.

[trellbrown84]

@sawno Should America just nuke London and all of the UK to stop this, because all this shit bullshit fucking up the world now is coming from OVER THERE.
I don't give a fuck if they are NATO. I don't appreciate a stuck up ass British country telling Americans what they should do. If i were president, I'd have bombs dropping and boots on the ground in the United Kindom by now.

[sawno]

@trellbrown84 Nah that won't stop it, a lot of this is being done top down from the central bankers and those are all over the world.

[trellbrown84]

@sawno smoke em out and destroy them.

[Anonymous]

Nope. For reasons people who are baaahhhing follow-the-crowds-no-spine-of-our-own sheep taking the cards will never understand. I mean it's extremely easy to ruin your credit score to such a degree you'll never ever in a 1000 years own a house by relying on credit invisible money that you are not obligated to immediately pay for like cash.

And it goes well beyond the government. That's what bah bah sheep unable to think for themselves go on about.

Bank employees can very easily steal your money, kick you out of your account, change your passwords, etc. and essentially erase your existence from their records. You end up a penniless begger on the streets & the responsible staff just gave themselves a bonus. Who do you think are the biggest threats to banks? Their own IT professionals.

[Opinion Owner]

And when you consistently use card you have NO money to your name. You have nothing. You have no record, nothing that you can go to the bank & argue what the fuck happened to MY money.

You are a nobody. Nonexistent. Unimportant. A number. Numbers are so, so, so, easy to erase because numbers have no value.

[MysticDevice]

No. Not a chance. That would eliminate any privacy you ever had with how you spend your money.

Wanna pay your buddy 40 bucks to help you move? Tracked and taxed.

Wanna give some money to your relative or friend for gas? Tracked and taxed.

Wanna buy something privately from marketplace? Tracked and taxed.

No thank you.

[joehypo1]

Not really i know cash is a pain in the ass but what happens when you can get to your money because of a disaster or some thing of that nature and of coarse cash is only worth anything because the government says it is it is not backed by anything like it use to and the us is testing there versiin the digital dollar the problem i see with that is they basicly can turn you money off for what ever reason

[rigmarole]

Nope. If Democrats try to do CBDC under the Fed, there will be parallel economies and the city people will have no resources. Cities will wither and die trying to survive on neopets food in the digital world while, the rest of the country trades in tangible assets and leaves the Democrats to die in a huddled mass.

[ArrowheadSW]

I would disagree with using only digital currency. Too many issues that can cause it to fail. We are almost at that point now, with credit cards and debit cards, though. I paid for a dinner tonight with cash. The bill was $10.39, and I gave the cashier two $5 bills and a quarter, nickel, and dime. So, of course, $10.40. He acted like he didn't know what to do. Ultimately he counted it and concluded that my change was one penny...

[RebelinSteel]

I do not carry cash and rely on contactless payment, very very few places are cash only. My local Chinese for takeaways ordered for delivery, you need cash but that is changing this year. I have not carried cash since before UK lockdown. I even have a ‘pub’ card that is pre loaded with cash for when I go out to pub at night. There is still a need for cash and always be a need for cash, I can see the high denominations bills disappearing as their use has dramatically declined.

[exitseven]

@rebelinsteel If a place does not accept cash , which is illegal by the way, they do not get my business. I refuse to pit 2 dollars on my creditcard to buy a Pepsi.

[RebelinSteel]

@exitseven this was a fallout of lockdown. There are as I said very very few. Over here a shop can refuse to serve you even though you have cash. I do not use a credit card, use contactless debit card. In the pub it does save messing around trying to sort cash lol and there is still the need for cash, not saying there is not, just I personally do not use it, and most people I know do not.

[exitseven]

I was in CVS getting a prescription and the lady behind the counter tells me they can't accept cash. I ask her what kind of a place does not accept cash. She tells me they keep the cash drawer locked and just take credit cards. So I tell her to get the manager. He comes over and I tell him that cash is legal tender and it is against the law. Then I told him that if he does not want to make the transaction I am leaving the money on the counter and walking out with my medication. So he goes and gets the key to the cash drawer and opens it. They must have thought better of this because it never happened again.

[lightbulb27]

no, but it has maybe some purpose. to me it's value is to move $ around quickly or possibly store value. But it's all suspect.

but here it comes as it pulls in more $.

I ask you... what can you do with any of the current crypto? Answer: speculate?

[exitseven]

So there was a guy in the next town that got a phonecall from somebody claining that he wa a lawyer and his grandson was arrested in Mexico and he needed 7,000 dollars to get him out. He told the guy that he needed to send Bitcoin to a specific account number. The guy does not know anything about Bitcoin so the "lawyer" tells him that he could go to a local 7-11 store and put the cash in the Bitcoin machine. So the guy does that and while he was driving home he started to think it was a scam. He stops at the police station and the cop told him that yeas he was scammed. So he goes to the store and says he wants his money back. The storekeeper says that he could not have it. The guy said that the cash is still in the machine and he should be able to get the cash back. Still the storekeeper refused. So I have to wonder if the guy went back to the store after it closed, attached a tow chain to his truck and the other end to the Bitcoin machine and pull the door off it and took his money back? Who takes the loss? The whole thing is a scam.

[lightbulb27]

@exitseven haha... great story!
He will have to learn how to turn it into dollars by transfering the bitcoin to a crypto exchange... will cost some %. and if he bought at right time and took long enough, he has one heck of a profit!

It's not useless... I used to work on building funds transfer services... it's genius technology and has value. But it's also currently, not very useable.

That said... here come the ETF's... they are approved and you will see marketing on them soon as more money goes in to bitcoin, the # of coins declines (up), and govt inflates currency (up). Buy buy buy... with speculative money only.

[YesterdaysChild]

@exitseven That scam is one of the oldest in the book. I am surprised that people still fall for it.

[exitseven]

@YesterdaysChild Today I heard that Boston University parents have been targeted. They get a phone call during the night saying they are the BU police and their kid has been arrested and there is an arrest payment that must be paid before the kid is let out of jail. People actually send the money.

[YesterdaysChild]

@exitseven Wow, takes all kinds of stupid, even when their kid is in the next room sleeping. 🤔😅😆

[exitseven]

@YesterdaysChild hahahaha

[lightbulb27]

Greatest scam is inflating currency to zero and blaming the collapse on others whike some lived like kings and queens.

[jshm2]

Not likely to happen.

There are places in the world with no internet connection and no electricity - two things needed for a digital currency.

Also, digital currency is in many different forms, from crypto currency to local bank CDBC. in order to "abolish" physical currency, there would need to be a central currency.

Also, most digital currency is untraceable. It's why they hate crypto and some have even banned it.

[Somoneelse]

No. I feel like the digital currencies like bitcoin are still too unsafe, easilly hacked or stolen. I rather have physical currencies than online/digital. In my country, the government already had setup new rules to have rights to check people's banktransactions without reason or even block it when they deem someone's transaction too high. This already happened to someone who bought a new furniture and wasn't able to pay afterwards because his bank-account got disabled for no reason.

[JacobJordan]

I don't do paper currency all that much as is. I have roughly 16 million in gold coins. Plus a further 23 million in silver bars. I do have a lot in 3 bank accounts and 3 trust funds 3 college accounts. And i do have some paper currency just in case

[funcplkoloa]

hahahaha

[NoOneEver]

No.


It’s honestly the worst thing humanity could do to itself.


Though I do believe it will eventually reach that point. As it fulfills biblical prophecy that in the last days you will not be able to buy or sell unless you take the mark of the beast which is upon your left hand or right hand or your forehead..

[Unit1]

No, i like both cash and crypto transactions and wallets.

Banks are easily trackable, require to know the customer and adhere to a centralized system such as sanctions. The only upside they have ( along with crypto) is that the merchant Won't have a problem with giving back change money.

[systemsareyo]

I rarely use cash anymore. I'm sad to see it go, yet that's life so much of technological and societal change. Eventually I'd think "so old fashioned" as bemused and amused as that guy in Skyfall who laugh remarks "chasing spies, so old fashioned* lol old hat 🤠 🎩

[systemsareyo]

*like not life (typo) lol. Anyhow, like they say "you can't stop progress"

[RavenDarkheart]

My checks go directly into a bank, but NO, I don’t want government controlling digital currencies. Just the idea that they could dictate what I can and can’t spend money on scares me.

[AGIS88]

Absolutely not. That would give the government unhindered control over ALL of your finances. Remember what Trudeau did to the Canadian Truckers for protesting? Froze every dime they had as a punishment for disagreeing with him. Imagine that, but globally.

[sawno]

Hell no, because then they can put artificial limits on the currency such as length limits, limits on what / where you can spend it, carbon budgets, etc.

[blueonblack22]

No. This is a bad idea because then the government knows exactly what it’s citizens all spend their money on. It seems like a good idea on the surface but it isn’t.

[PhantomMenace22]

Gold will always have value in times of crisis, unlike digital and paper currency, which can easily fluctuate and decline in value. Hence why people have always invested in gold

[DarkWinterNights]

CBDC is a dystopian nightmare that will usher in some pretty scary authoritarianism. Imagine having a few dollars removed from you account every time you say something online that offends the establishment.

[rigmarole]

Imagine your money expiring at the end of the month and having to pay a tax to renew it... That's part o it as well.

[DarkWinterNights]

Oh for sure. Still- the controlling social behavior aspect scares me on a very deep level.

[Anonymous]

Getting rid of paper currency? So you are talking about the nonsense like dogecoin, etc. No, thanks! Already papers are just bullsh*t. Some of countries exploit gold, silver, diamond, oil, labour and trade piece of papers for these values.

Nonsense!

[9in_Serpent]

How about we get rid of the idea of money all together? Money is just a tool to say you are better than another human being. If they did push digital currency i would not use it and dont trust it or the people that control it

[AviatorTom]

Not entirely. There are still places, and situations, where paper (or plastic) currency comes in handy.

[Dinklex3]

No, lol.

Also power was out in upstate Ny. Had to use cash only to buy food.

[exitseven]

I do not even recognize digital currency. I know it is a scam. Cash is king.

[WhyohWhy69]

No. I don’t want my money to be that controlled. I do use direct deposit and a debit card. That’s more than enough hands off paper though.

[RingOfFire]

No. Digital currency issued by government should be prohibited by constitutional amendment. It is prone to government abuse and invasion of privacy and a threat to liberty.

[Flatmanlewis]

Nope. That’s some Book of Revelations stuff right there.

[BCRanger10]

No! I like having cash on hand and available!

[andreasderjuengere]

I will oppose this idea with all my powers.

Even if that leads to something that's considered ''illegal'' :)

[LaFemmeFatale_1]

In China, almost no one uses paper money, we all pay with our phones.

[sawno]

And in China they are all tracked and can't even get a normal train ticket if their social credit scores are to low. Perfect example of why its a terrible idea.

[NamerOfStars]

As Charleton Heston put it, "... from my cold dead hands".

[Anonymous]

No, never. I will not be beholden to government trackable digital currancy.. Next thing you one you post something offensive and the government decides to punish you by taking all of your money away fuck that.

[slatyb]

No, but that's mostly happened for me. I go weeks without carrying cash.

[Danny_dan92]

I never carry cash so it doesn’t bother me in that sense… BUT. If we talking the elimination of the USD? No. Fuck no. Stop it

[SolitarySolace]

No one should say yes to this. That would just lead to corruption. Not to mention you’ll risk hackers stealing all of your money.

[AmeerX]

I don't think I want paper currency to go away at all.

[AngryCarl]

No, I still carry a small cash float with me in case I forget my credit card. However I greatly fear that at some point in the future we will no longer have that choice.

[AnusDestroyer3169]

No because underage kids and old people exist

[Fireguy17]

Nope, cash is king.

I really don't want to be tracked.

[KrakenAttackin]

No! This is how the Chinese social credit system controls people by monitoring and approving/disproving their purchases. Fuck that.

[Anonymous]

Then you will have someone knowing and keeping track of every single thing you ever buy.

[genericname85]

so how do you pay then if you have no internet connection?

[findacure4wokeness]

We need to take away power that the surveillance state already has not give it more.

[Quigly]

Way too much fraud with digital payment systems. Just look at all the theft and fraud with store cards and credit cards.

[pickles77]

No because nothing backs digital currency and it’s not always the most reliable or secure. It’s good to have options

[whistlingwh0res]

There are too many flows in law system and I don’t trust them. If they fix it to make it fair to everyone yes otherwise I would prefer paper money

[jahaims]

I'll trade in gold before I use a governments digital currency.

[LiamJHayden]

Nope. I am opposed to giving Big Brother complete control.

[Minahh]

Naaah I like cash besides imagine the government control even now it's huge

[LivingExample]

No!!! I love paper currency even though I use digital!

[captain_voidwalker]

I'd rather go the opposite I'm ready to return to the gold standard, inflation sucks

[Anonymous]

Not really, I still get discounts using cash at certain places and how will I still continue coin collecting if they do that

[Anonymous]

Absolutely not

They do that, I'll get my shotgun out

[robocop666]

No this will fail. Lots of money to try this and end up failing

[trellbrown84]

Is whomever in support of this fucking insane?

[funcplkoloa]

NO, it's just another way to gain control over the population

[FreyaRed]

I like paper because it's anonymous.