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01-09-2016, 02:25 PM
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#1 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Mar 2002 Location: ...
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| will cash disappear in the future?
I was wondering about this.
Right now, only 4% of money in Canada is physical cash. (coins and bank notes)
The other 96% is all imaginary/intangible (data in the computer).
So I was wondering if that would ever happen in Canada and did some Google research.
I found this article Denmark is trying eliminate cash and make it all electronic data. Denmark hopes to boost its economy by eliminating cash - Quartz
The 4% of Canadian dollar is physical cash, but it will very likely go down to 1% or even lower in the near future.
What do you think? Do you think we're gonna eliminate cash in the future and make it all data?
It will definitely be cheaper for the government because they spend enormous amount of money designing/engineer & printing/producing cash/coins.
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01-09-2016, 02:31 PM
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#2 | | My homepage has been set to RS
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Implant a chip in my finger to start the car, open the house, pay for goods, check in for flights
Hate carrying keys and wallet timpo
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01-09-2016, 02:33 PM
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#3 | | NEWBIE ACCOUNT!
Join Date: Jan 2016 Location: Coquitlam
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I don't think that's a good idea. It's good to at least have some physical change on you just in case. They should just leave it the way it is now. If you run out and there is no physical money (cash, coins, etc...) then you will have to BUY some in order to get more but you are going to be broke and now fucked. As I said earlier, just leave it the way it is or get rid of the stupid Bitcoin idea.
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01-09-2016, 02:57 PM
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#4 | | I contribute to threads in the offtopic forum
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| Quote:
Originally Posted by sdubfid  Implant a chip in my finger to start the car, open the house, pay for goods, check in for flights
Hate carrying keys and wallet timpo | It's like you're purposely trying to invite CharlesinCharge to come in here and tell about his higgity biggity zippity government conspiracies!
"that's how they get you mannnnnnn, they plant microchips in our bodies and control our mindss." -CiC
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01-09-2016, 03:36 PM
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#5 | | My homepage has been set to RS
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When everyone in the government can change a flat tire then I'll start worrying about them controlling my brain
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01-09-2016, 05:12 PM
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#6 | | Even when im right, revscene.net is still right!
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Physical cash is outdated in this new age of technology. I think eventually it'll all be electronic. Chip implant or finger print payment, credit card style. Criminals however will end up chopping your hand off or removing your implanted chip lol
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01-09-2016, 05:16 PM
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#7 | | To me, there is the Internet and there is RS
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But then how will people pay for drugs? Because i it's digital based everything can be tracked.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | 
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01-09-2016, 05:19 PM
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#8 | | HELP ME PLS!!!
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Will I think the future will be cashless? Yes
Do I personally want that to happen? No
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01-09-2016, 05:26 PM
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#9 | | My dinner reheated before my turbo spooled
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how can we avoid paying taxes then?  | |
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01-09-2016, 05:27 PM
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#10 | | In RS I Trust
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It won't be a chip in your finger or arm it will be pay with your phone which we are already starting to see. That being said physical cash will always be around unless something drastic happens.
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01-09-2016, 06:37 PM
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#11 | | RS has made me the bitter person i am today!
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| Quote:
Originally Posted by Manic! But then how will people pay for drugs? | Better get to suckin'.
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01-09-2016, 06:46 PM
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#12 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
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I like things the way they are now. If I found a store shaddy I use cash. If I am traveling and don't want to get ding with fees I change my money in advance. Also a lot of shops and restaurant (mostly asians) only accept cash (BB Tea places for example).
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01-09-2016, 09:15 PM
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#13 | | My homepage has been set to RS
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yeh cause easy to recover taxes if deals r done via credit.......
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01-09-2016, 09:26 PM
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#14 | | To me, there is the Internet and there is RS
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| Quote:
Originally Posted by murd0c It won't be a chip in your finger or arm it will be pay with your phone which we are already starting to see. That being said physical cash will always be around unless something drastic happens. | Some people already have RFID implants in there arm.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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01-09-2016, 10:03 PM
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#15 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Mar 2002 Location: ...
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| Quote:
Originally Posted by VR6GTI how can we avoid paying taxes then? | Quote:
Originally Posted by tool001 yeh cause easy to recover taxes if deals r done via credit....... | Tax evasion isn't the only way to obtain illegal money.
Hackers have been sending malware and viruses to attack banks and other creditors and agencies.
Do your Google research, sometimes they steal north of $100+ million, much higher than business owners not claiming their bubble tea sales to IRS/CRA.
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01-10-2016, 09:37 AM
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#16 | | I *heart* Revscene.net very Muchie
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go to a developing country and ask the same question....will never happen outside of north american/europe
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01-10-2016, 10:43 AM
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#17 | | Prince of the Apes
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No, we will always need something physical to represent our currency. I think the only way this would legitimately work is if the whole world converted to one select currency.
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[26-08, 13:50] Jesusjuice is this a sports car forum? why are there so many hondas?
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01-10-2016, 12:59 PM
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#18 | | I answer every Emotion with an emoticon
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Total Recall
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01-10-2016, 01:03 PM
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#19 | | To me, there is the Internet and there is RS
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Originally Posted by blkgsr go to a developing country and ask the same question....will never happen outside of north american/europe | In many developing countries a persons first phone is a cel phone skipping the land line all together. I could see a mobile phone to mobile phone payment transfer system working really well in these types of countries.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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01-11-2016, 08:42 AM
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#20 | | I answer every Emotion with an emoticon
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| Quote:
Originally Posted by Manic! In many developing countries a persons first phone is a cel phone skipping the land line all together. I could see a mobile phone to mobile phone payment transfer system working really well in these types of countries. | Apple Pay for instance.
Physical cash representing fiat currency is doomed.
Buying drugs will be a lot safer and easier when they're all legal 
To be honest cash is less needed for drugs already as well. Quote:
Originally Posted by bloodmack No, we will always need something physical to represent our currency. I think the only way this would legitimately work is if the whole world converted to one select currency. | Why? I've travelled the world with nothing but credit cards in my pocket. When the local market dealt in cash, I simply hit an ATM. As things progress, I can skip that ATM trip.
It's a win-win for the consumer and the retailer.
__________________ Quote:
Originally Posted by MajinHurricane who would ban me? lol. Look at my post count. |
Last edited by Nightwalker; 01-11-2016 at 08:53 AM.
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01-11-2016, 08:58 AM
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#21 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
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| Quote:
Originally Posted by Nightwalker Apple Pay for instance.
Physical cash representing fiat currency is doomed.
Buying drugs will be a lot safer and easier when they're all legal
To be honest cash is less needed for drugs already as well.
Why? I've travelled the world with nothing but credit cards in my pocket. When the local market dealt in cash, I simply hit an ATM. As things progress, I can skip that ATM trip.
It's a win-win for the consumer and the retailer. | I only use cash when traveling. Is like a trust issue for me. Try going to Mexico and use your credit card. Or China a lot of place only accept local credit card. International credit card can't be use.
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01-11-2016, 09:08 AM
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#22 | | To me, there is the Internet and there is RS
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The only problem with a cashless society is when the network goes down and it does go down. After a major earthquake people without cash are going to be screwed.
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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01-11-2016, 09:11 AM
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#23 | | OMGWTFBBQ is a common word I say everyday
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doubt it
higher chance we'll start using bottlecaps in the future as cash
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01-11-2016, 09:17 AM
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#24 | | I answer every Emotion with an emoticon
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| Quote:
Originally Posted by Manic! The only problem with a cashless society is when the network goes down and it does go down. After a major earthquake people without cash are going to be screwed. | I guess that's 96% of our money already.
Cash is just a currency to get things that actually have value. I guess those survivalist hoarders aren't totally crazy. In that situation, stockpiled food/water/shelter and gear will be far more valuable than cash on hand. Physical assets always win.
Cash is a token promising value but doesn't have any of its own. Quote:
Originally Posted by Mr.HappySilp I only use cash when traveling. Is like a trust issue for me. Try going to Mexico and use your credit card. Or China a lot of place only accept local credit card. International credit card can't be use. | I do too, I just pick it up on-site usually by hitting an ATM. No problems in Guatemala, Thailand, Laos, or anywhere else.
I think soon a lot of those places will be as cashless as we are.
__________________ Quote:
Originally Posted by MajinHurricane who would ban me? lol. Look at my post count. |
Last edited by Nightwalker; 01-11-2016 at 10:39 AM.
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01-11-2016, 10:07 AM
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#25 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
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^^ I think I use ATM once in China once I ran out of cash. And let's just say finding an ATM that accept either my credit card or debit card was near impossible. Most of their ATM don't have interac or Plus symbol. Finally found one ATM that have it, I was so happy lol.
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