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  1. #41
    Void Lord Elegiac's Avatar
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    Quote Originally Posted by squeeze View Post
    This will never happen in any major economy, at least not until a completely functional digital equivalent can be found. Cash is just too useful in too many ways.
    I honestly don't see these ways in wish cash is useful that doesn't involve privacy.

    With the advent of things like PayPal, Patreon, smartphone card readers, et cetera it is now becoming easier and easier to transfer funds digitally. At least in my case it is actually significantly more burdensome to have to look for an ATM.
    Quote Originally Posted by Marjane Satrapi
    The world is not divided between East and West. You are American, I am Iranian, we don't know each other, but we talk and understand each other perfectly. The difference between you and your government is much bigger than the difference between you and me. And the difference between me and my government is much bigger than the difference between me and you. And our governments are very much the same.

  2. #42
    Bloodsail Admiral bowchikabow's Avatar
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    Quote Originally Posted by StarbuyPWNDyou View Post
    how is a Chief Economist Bind on Equip?
    Best post on this thread so far!
    "When you build it, you love it!"

  3. #43
    Old God Mistame's Avatar
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    Using a card/e-currency only works if the means to utilize it is provided unconditionally, free of charge. This means even the fruit and vegetable vendors on the side of the road would have to have access to a means of a collection. Though I'm not fond of having to "swipe" a stripper's money maker.

  4. #44
    Quote Originally Posted by Mistame View Post
    Using a card/e-currency only works if the means to utilize it is provided unconditionally, free of charge. This means even the fruit and vegetable vendors on the side of the road would have to have access to a means of a collection. Though I'm not fond of having to "swipe" a stripper's money maker.
    and things like paying your neighbors kid 5 bucks to shovel your driveway

  5. #45
    Merely a Setback Sunseeker's Avatar
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    Quote Originally Posted by I Push Buttons View Post
    Because a run on banks during financial crises is a good thing.

    Oh wait.
    The alternative is the bank not allowing you access to your money. I'm glad the economy is stable while we're staving in the streets.

    - - - Updated - - -

    Quote Originally Posted by Didactic View Post
    I hardly think conspiracy theorists and doomsday preppers are demographics worth noting when it comes to economic policy.
    I like carrying cash for a variety of reasons. But if you think for a second that you have control of your money when its anywhere but in your hands, you're fooling yourself.
    Human progress isn't measured by industry. It's measured by the value you place on a life.

    Just, be kind.

  6. #46
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    Quote Originally Posted by smrund View Post
    I like carrying cash for a variety of reasons. But if you think for a second that you have control of your money when its anywhere but in your hands, you're fooling yourself.
    I have no issue with it, personally. I like having a currency which is controlled by the state.
    Quote Originally Posted by Marjane Satrapi
    The world is not divided between East and West. You are American, I am Iranian, we don't know each other, but we talk and understand each other perfectly. The difference between you and your government is much bigger than the difference between you and me. And the difference between me and my government is much bigger than the difference between me and you. And our governments are very much the same.

  7. #47
    Merely a Setback Sunseeker's Avatar
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    Quote Originally Posted by Didactic View Post
    I have no issue with it, personally. I like having a currency which is controlled by the state.
    Riiiiight, that's why privately owned banks get to tell you how much access you have...because your money is controlled by the state.
    Human progress isn't measured by industry. It's measured by the value you place on a life.

    Just, be kind.

  8. #48
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    Quote Originally Posted by smrund View Post
    Riiiiight, that's why privately owned banks get to tell you how much access you have...because your money is controlled by the state.
    You mean the same banks which impose withdrawal limits on cash?

    I'd also like to know who doesn't use direct deposit for pay in this day and age.
    Quote Originally Posted by Marjane Satrapi
    The world is not divided between East and West. You are American, I am Iranian, we don't know each other, but we talk and understand each other perfectly. The difference between you and your government is much bigger than the difference between you and me. And the difference between me and my government is much bigger than the difference between me and you. And our governments are very much the same.

  9. #49
    Merely a Setback Sunseeker's Avatar
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    Quote Originally Posted by Didactic View Post
    You mean the same banks which impose withdrawal limits on cash?
    The only withdrawl limits are on if they actually have that much cash on hand (usually 5-10k, depending on the bank and area) otherwise if the money is in your account and the cash is in their vault you can walk inside and get it. I've done it before. If they don't have the cash and you want all your money, they will order the cash to be delivered.

    I'd also like to know who doesn't use direct deposit for pay in this day and age.
    Considering that most employers won't even cut you a check anymore, it's not like you have a choice.

    Your money is either in the private bank of your choosing or the private bank of someone else's choosing.
    Human progress isn't measured by industry. It's measured by the value you place on a life.

    Just, be kind.

  10. #50
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    Quote Originally Posted by Didactic View Post
    I'd also like to know who doesn't use direct deposit for pay in this day and age.
    Seriously.

    Quote Originally Posted by smrund View Post
    The only withdrawl limits are on if they actually have that much cash on hand (usually 5-10k, depending on the bank and area) otherwise if the money is in your account and the cash is in their vault you can walk inside and get it. I've done it before. If they don't have the cash and you want all your money, they will order the cash to be delivered.
    Outside of a federal warrant, no one, not even the state, should be able restrict access to your funds.

  11. #51
    Merely a Setback Sunseeker's Avatar
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    Quote Originally Posted by Mistame View Post
    Outside of a federal warrant, no one, not even the state, should be able restrict access to your funds.
    Exactly, but they do, all the time. Because banks don't actually keep "your money" on hand, they whisk it away into hedge funds, loans and money markets that the average person doesn't understand in the slightest. Which is why "runs" can even happen in the first place: because your money doesn't even exist.
    Human progress isn't measured by industry. It's measured by the value you place on a life.

    Just, be kind.

  12. #52
    Void Lord Elegiac's Avatar
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    Quote Originally Posted by smrund View Post
    Exactly, but they do, all the time. Because banks don't actually keep "your money" on hand, they whisk it away into hedge funds, loans and money markets that the average person doesn't understand in the slightest. Which is why "runs" can even happen in the first place: because your money doesn't even exist.
    We could...I don't know...always resurrect Glass-Steagall.
    Quote Originally Posted by Marjane Satrapi
    The world is not divided between East and West. You are American, I am Iranian, we don't know each other, but we talk and understand each other perfectly. The difference between you and your government is much bigger than the difference between you and me. And the difference between me and my government is much bigger than the difference between me and you. And our governments are very much the same.

  13. #53
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    Quote Originally Posted by Didactic View Post
    We could...I don't know...always resurrect Glass-Steagall.
    Yes, yes we could.
    Human progress isn't measured by industry. It's measured by the value you place on a life.

    Just, be kind.

  14. #54
    The Unstoppable Force Mayhem's Avatar
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    Well, of course a bank is proposing this. More money that runs through their systems. I wonder if he also proposes that money is transfered instant from account to account.
    Quote Originally Posted by ash
    So, look um, I'm not a grief counselor, but if it's any consolation, I have had to kill and bury loved ones before. A bunch of times actually.
    Quote Originally Posted by PC2 View Post
    I never said I was knowledge-able and I wouldn't even care if I was the least knowledge-able person and the biggest dumb-ass out of all 7.8 billion people on the planet.

  15. #55
    I really, really do not want to see this happen.
    Too much potential for abuse.

  16. #56
    It's not cash he wants to rid, it's currency. What would he suggest? Bartering gave way to currency because it's so much better. How would you stimulate such an economy and lend to or assist others, person or country? How would that person or country conduct business internationally?

  17. #57
    Pandaren Monk Karrotlord's Avatar
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    Quote Originally Posted by smrund View Post
    The alternative is the bank not allowing you access to your money. I'm glad the economy is stable while we're staving in the streets.
    How is this any different than now? Unless you're advocating armed bank robbery when the next recession hits.

  18. #58
    Quote Originally Posted by Hubcap View Post
    If you go to Silicon Valley a lot of people use their smartphones to pay for stuff, Apple Pay etc. I don't feel that my phone is secure enough to run something like Apple Pay. I don't use cash much any more, but I still use credit cards.

    Mostly what I use cash for is paying non-techies for services like cutting brush or hauling trash away.
    Cash is king, removing it is just another form of government control over your life.

  19. #59
    Quote Originally Posted by Hubcap View Post
    If you go to Silicon Valley a lot of people use their smartphones to pay for stuff, Apple Pay etc. I don't feel that my phone is secure enough to run something like Apple Pay. I don't use cash much any more, but I still use credit cards.

    Mostly what I use cash for is paying non-techies for services like cutting brush or hauling trash away.
    Unless someone has your thumb and your phone, they're not going to be able to take your money through Apple Pay. Even if the encrypted NFC payment transmission gets hijacked, the information is useless since the number that your phone sends is randomized and only valid for that payment.

    On the other hand, any old stealth strip reader can jack your cc number, retailer databases can be breached with your cc number and anyone walking around with an NFC reader can read said number as well from your card's chip if they're close enough. Not to mention simply having the card physically stolen.

    Really, Apple Pay is infinitely more secure than the alternatives.
    Last edited by glo; 2015-09-21 at 02:24 AM.
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  20. #60
    We're getting awful close to literal "mark of the beast" territory with a call to ban cash.

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