- May 8, 2018
- 10,624
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[Finance] A Cashless Society.
- Thread starter Freestyler
- Start date
Lenny Rider
Well-known member
- Sep 15, 2010
- 6,014
Turkish barber?
Mr Bridger
Sound of the suburbs
Or Pizza delivery.
Beach Hut
Brighton Bhuna Boy
QPR fan, but decent blokeTurkish barber?
Brightonfan1983
Well-known member
Interesting, and the BBC article cited should be read too, for a bit o' balance.Interesting article, albeit from the point of view from a cashless service provider, but gives an insight into hidden costs of cash.
Cash vs. Credit: Which Should You Accept for Your Small Business
What is the true cost of cash when it comes to accepting payment methods for your business?squareup.com
Pay by cash? Not for long, report warns
Changes are needed to ensure access to cash, otherwise the system will fall apart, a review says.
www.bbc.co.uk
Totally agree,, if the only payment option fails the provider should forfeit the charge.
There is with NatWest and I've used it. You need to use their app and you get a special code which will give you cash - this of course would be no good in a cashless society but maybe the ATM could dispense a card instead?
I'm in favour of cash being an option, I don't want "them" knowing what I spend my money on. I've seen too many stories in the media of mortgage applications being scrutinised over spending habits.
Just for transparency, the report the BBC refer to was either commissioned or financed by Link, the cash dispenser company.Interesting, and the BBC article cited should be read too, for a bit o' balance.
Pay by cash? Not for long, report warns
Changes are needed to ensure access to cash, otherwise the system will fall apart, a review says.www.bbc.co.uk
My bank does virtual credit cards but not virtual debit ones (although that may well change soon), so not much good to me.
I'm sure that there will be a greater push to a cashless society but I think it will take longer than people think.
Ha, I remember in my last week of uni begging for an increase in my overdraft for essential living ... and then being called in to the manager's office when I wrote a cheque to a beer company. Our essential living included an end-of-term party. It was a pretty uncomfortable grilling and bang went any chance of another increase
Ha. Similar. When I graduated I went to see my bank manager about extending my overdraft. I had a job lined up but needed more money until I got my first pay Chequers, I also wanted to buy a bike to cycle to work. I had already gone above my agreed limit but I said it was for essentials like you did. He poured over my account and then asked “is Brighton and Hove Albion essential?” Quick thinking I said I needed physical money and had bought some tickets for my brother who paid me in full and in cash. He paused, looked at me and said he was a Wimbledon fan. We struck up conversation and eventually he agreed to my request.
Apologies if someone else has mentioned this already but when was the last time a discount was available for cash? Outside of tax avoidance?
put_that_board_down
Member
- Apr 29, 2012
- 36
Car boot sales………can’t see these being cashless?
larus
Well-known member
There’s a big difference between using a debit/credit card and CBDC.
With a CDBC, built on block-chain technology, the central bank/government will have full visibility of all of your transactions. To be clear, this is not that you have spent £100 in Sainsbury’s (which is what currently happens with e debit/credit card), but every item that you have bought in Sainsbury’s.
A CDBC will be programmable. They (the government) will have the ability to limit what you can/cannot spend your money on. For example, if the government thinks you’ve bought too much alcohol, meat, or petrol etc., they would be able to restrict this.
Then think about what’s happened to Nigel Farage and Gina Miller having their back accounts closed. What happens of the government thinks that you protesting against their policies is wrong and they close down your account. That would never happen you think - well, it did last year in Canada during the trucker protest against vaccines mandates. Trudeau implemented legislation called the Emergencies Act and they locked the accounts of numerous protestors.
This is not conspiracy theory bollocks - this is what ‘they’ want to implement.
If you think that the people who are concerned about the WEF are nutters, then listen to this from Gordon Brown sucking up to Klaus Schwab (self appointed leader of the WEF).
Why should the government have full visibility as to what I (or anyone) chooses to spend my money on? They are not there to control, our lives, they are elected to serve US. Not the other way around.
With a CDBC, built on block-chain technology, the central bank/government will have full visibility of all of your transactions. To be clear, this is not that you have spent £100 in Sainsbury’s (which is what currently happens with e debit/credit card), but every item that you have bought in Sainsbury’s.
A CDBC will be programmable. They (the government) will have the ability to limit what you can/cannot spend your money on. For example, if the government thinks you’ve bought too much alcohol, meat, or petrol etc., they would be able to restrict this.
Then think about what’s happened to Nigel Farage and Gina Miller having their back accounts closed. What happens of the government thinks that you protesting against their policies is wrong and they close down your account. That would never happen you think - well, it did last year in Canada during the trucker protest against vaccines mandates. Trudeau implemented legislation called the Emergencies Act and they locked the accounts of numerous protestors.
This is not conspiracy theory bollocks - this is what ‘they’ want to implement.
If you think that the people who are concerned about the WEF are nutters, then listen to this from Gordon Brown sucking up to Klaus Schwab (self appointed leader of the WEF).
Why should the government have full visibility as to what I (or anyone) chooses to spend my money on? They are not there to control, our lives, they are elected to serve US. Not the other way around.
larus
Well-known member
Creaky
Well-known member
Went to a school fete on Saturday - no sign of a card machine.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,015
the thing i dont understand with this theory is why they would want to, and if they did why they couldnt do it without CDBC. indeed they have done this with rationing. they can require banks and shops to provide itemised billing info into the central computer to analyse. they can request banks accounts be shut, payments blocked. the thing that stops them is our liberabl democracy, captialism (not so easy to make money restricting spending) and law. the technology might make it easier to implement, changing all law and sense of democracy would be a larger hurdle that CDBC doesnt help with.
Jackthelad
Well-known member
- Mar 31, 2010
- 1,072
A full cashless society is madness. It will be like China's social credit system. You are basically giving all your money and trust to the banks and government which history tells us is a terrible idea.
The WEF who of course pushing this has admitted it will come with dangers. They ominously mentioned "digital hacking" a "digital reset" in a world with Russia and China this really could mean theft on a scale we have never seen before. Not only that, your digital money could just be turned off. And if we ever have lockdowns again then CBDC will be used to make sure you can buy only what the government allow you to buy.
The WEF who of course pushing this has admitted it will come with dangers. They ominously mentioned "digital hacking" a "digital reset" in a world with Russia and China this really could mean theft on a scale we have never seen before. Not only that, your digital money could just be turned off. And if we ever have lockdowns again then CBDC will be used to make sure you can buy only what the government allow you to buy.
larus
Well-known member
It’s not a theory though. That guy from the WEF (2nd link) explains what they can do with a programmable CBDC.
Next point - you ask “why?“. If you look at the people who are linked to the WEF, it’s the elites/politicians/top leaders in industry etc. It comes down to control and power.
They can’t currently get itemised shopping to the government - with a CDBC they will be able to. It allows a credit score system.
The next stop will be digital ID, mandatory vaccinations (if they can get away with it) - all of your information on one system, available for those in power to control you.
I don’t trust those in power - be that Labour, Tories or civil servants. They don’t need to know the ins and outs of everyones life. We have historically been a free nation and we elect politicians to serve us, not as our masters.
We’re one of the most heavily surveiled countries ion the world now - has that made people safe? Crimes don’t get prosecuted/pursued unles you happen to miss gender someone on social media. Victim of burglary - sorry, too busy, log it on the website.