Do you believe digital currency will be the way of the future? Do you believe paper money be made obsolete?

[Kayla45]

Thoughts? It makes more sense to go digital, however can a person really trust their assets in a digital space?

The future of money will be digital.

Both digital and paper money will remain as options.

Other. 🤔❓

[Lliam]

A lot of people with NOT be okay with that. Only the clueless don't care.

No more piggy banks or hiding cash under the bed. No more yard sales, swap meets, or bake sales without government oversight.

CBDCs will usher in unprecedented levels of spying on the privacy of citizens. Every purchase, every transfer, every payment can and will be logged in a government database for both benign (taxes) and non-benign (financial surveillance) reasons.

Governments will become Big Brother, tracking who is doing what with money in the country. If it wants, a government can easily block certain transactions it deems “illegal.” This could be anything from buying legal marijuana, paying an informal worker, or even remitting money to your family in blacklisted countries.

With CBDCs, national governments can freeze monetary assets without leaning on banks. Criticized the ruling party or organized a protest? Too bad, ‘cause you’re about to get frozen out of the monetary system.

Already, countries like China have “social credit systems” that determine your access to certain services, based on your political views, shopping habits, online activity, work history, and other attributes. Pairing social credit systems with CBDCs means governments can “punish” those who contravene its rules by stopping them from spending money.

[Lliam]

Thanks for the MHO, Kayla.

[exitseven]

There will not be a cashless society even if people have to create their own coin of the realm. i know a group of people that use a barter system to keep the government out of their business.

[exitseven]

Thanks for the MHO😎

[Stacey55666]

The funniest sitcom of all times is The Trailer Park Boys. It's about a community of friends living in a trailer park in Nova Scotia, Canada.
You nailed it when you mentioned the barter system.
https://www.youtube.com/watch?v=N65uFX6Kvpw

[Anonymous]

It's possible but we are going to be screwed and here is why. Online banking / digital currency won't work long term. Banks go down due to technical issues or upgrades quite often to the point nobody can access their money or do any kind of shopping done until the banks fix the issue and at times it can take hours for them to Do this

Hackers can hack into bank accounts and steal your money and banks in a way do not have to give you that money back. Another reason for why it won't work, is some banks will not let you withdraw or spend past a certain amount of dollars and if you attempt to withdraw more, staff question and question you why you are withdrawing the money before they will give you the money.

This is what is starting to happen in Australia. Government agencies and phone companies were recently hacked into in Australia to the point thousands of people had to get new drivers licences with new numbers, they had to get new ID as well. If this is what hackers can do with drivers licence it's only a matter of time before the hackers will hack banks and steal people's money.

Sorry for blabbing on

[Stacey55666]

The shadow government has wanted to get rid of currency for a long time. Private companies have been competing to come up with the perfect system, but the government doesn't want that. The government wants complete control of our monetary system.

When private companies were working on a digital solution, they wanted transactions to be private, and away from the government. They flat out said that they needed a system that would allow for a clandestine system where you could still buy drugs, hookers and gamble.

But they got pushed to the side and the new digital money will be controlled by the government.

Machine: Sorry, Kayla, you bought donuts last month. You're eligible to buy another dozen in December.

This isn't my prediction, I listen to podcasts and read things from experts. E7 is right. The new bartering system will become very elaborate.

[Daniela1982]

There will be a one world government sometime in the near future. To make that work they need a universal currency, which would be hard to make work To make it easy they will need a chip or something that will act both as your identity and debit card. So yes, digital currency is not far away.

[TheSpaceGnome]

We will always have both physical and digital currencies, because physical money can't be spent in stores that are very far away (like for example the opposite side of the planet), and digital money doesn't work without electricity or internet (and data can get deleted).

[Unit1]

Cryptocurrencies are certainly one way to counteract the endless paper printing shenanigans, which makes our paper money and bank accounts worth less over time and the price of food keeps increasing.

However I don't think it is the ultimate weapon to battle the creeping inflation.

Plus with crypto you can transfer money in states with sanctions like say your good friend, who's in Russia and in reverse.

[jammcm]

There are two issues with digital money. 1) At a flick of a switch, or a major disaster your digital money will not work. When the clock changed from 1999 to 2000 many people horded green cash in case the electronics did not make the change. 2) The cost of using the ATM is increasing at such a rate that many places are refusing to take digital payment. Our vet is adding a $2 dollar fee if you use a card.

[Hispanic-Cool-Guy]

No. Digital currency won't work.

It will be super easy to get your money stolen by hackers who work around the clock stealing people's information to commit fraud and two towards the end of the world it will be mandated to get chipped but that won't last neither.

[purplepoppy]

I rarely buy anything with cash. Card is far more convenient. I'm not bothered about the banks knowing what I'm buying because I don't buy anything illegal.

[Andres77]

Of course paper, money and coin will be eliminated. All currency will become digital.. how else do you think the government could best control the people? It’s going to happen and it’s not far away.

[AviatorTom]

We essentially gave that now. I use credit cards almost exclusively, rather spend currency.

[Danny_dan92]

I can see it happening considering more and more businesses are getting away from physical money exchange.

[Guardian45]

Society as we know it is in decay. Cash and gold will be King!

[strateguy632]

1 no 2 yes

[Kelly6]

no i do not