I never have cash (Sweden). Always pay with my VISA card.
It's a bit inconvenient at times though. For example when you wanna order pizza delivered to your door, cash is pretty much needed around where I live.
I never have cash (Sweden). Always pay with my VISA card.
It's a bit inconvenient at times though. For example when you wanna order pizza delivered to your door, cash is pretty much needed around where I live.
Um, What? You'd remove electronic currency but leave it? Also who is going to be in charge of making sure all coins are their pure respective metals? Gold is too soft to make into coins, you'd end up with a pile of bent/broken gold after a while. This would also require a complete restructuring of the way we value money. Gold right now is over $1,600 an ounce. This would essentially make a coin the size of a quarter worth several hundred dollars, and even one the size of a dime would be easily over 100.
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Haha... "real value".
What gives precious metals a "real value"? Think about it.
ANY commodity only has as much value as people place in it as a medium of exchange. If society collapsed, what do you think people would want more? Gold coins or food/water?
No matter how much intrinsic value you think a bar of gold has, you can't eat it or drink it. It's much more unwieldy than paper or especially bytes of data.
Currency isn't meant to be valuable when society falls into a pile of rubble. Currency is meant to be valuable as a way to prevent it from collapsing into rubble.
To that end, we can place value in paper, gold, bytes or bottle caps (One day, I hope!) and all would be a perfectly valid currency.
Anecdotal evidence however that holds the general problem with the machines at the core. Of course it is anecdotal evidence whenever a machine stops working - as it is usually working per default.
Physical counterfeits, not that it is a huge problem with our currency, are traceable - im not sure bits of 0 and 1 are as well...
Apply blizzards model to any other subscription service,you'd be outraged:
Netflix adds no new movies for a year, you click a new movie, there's a $5 fee.
You're in an accident, click your onstar button, but there's an addition $20 fee for them to help.
You turn on your tv only to find all you get are the infomercial channels. Every other show is pay per view.
See how dumb that model is?
Interesting topic, i happened to hear something about this on radio not too long ago.
In quebec, we have a lot of corruption getting found out thanks to our new permanent anti-corruption unit and because of a public comission against corruption in construction. What we find a lot is that all of the corruption works with paper money, people exchanging daily 100k++ in the form of 100$ bills (Which they hide in their socks.. lol). The party of the mayor of montreal even stacked up to several millions this way. What the guy on radio said is that if paper money stopped to exist, that corruption would stop because then any transaction would have to be recorded, thus barring any sort of illegal money exchange.
Imo big yes to removing physical money, at least anything above 20$ should never exist if only for corruption.
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Cash is good for budgetting daily spending. I spend what's in my wallet for that week, if I'm out of cash then I overspent to early. I use credit for bigger purchases, monthly fees/expenses. Stuff like food and snacks, movies and other 'wants' I stick with cash.
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I'm not sure what the big deal is. Its pretty much all Fiat money nowadays anyway. The only backing our money, whether analog or digital, has anymore is just "confidence."
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Yes, but the person countering the claim that money is worthless without a precious metal to back it, understands economics better than the person making that claim. The evidence is the last several decades, that's actually approaching a century I think, of the US not using the gold standard, yet still having value for the currency.
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I would like to go back to the days of paying with a pouch of gold :O
If you were maybe watching batman beyond they had a very good way for a money. A expendeable plastic cards with cash (wich can be refiled later).
Its kinda same as the credits cards but with a limit. If you had 10 dolars and a candy bar costed 1 dolar you just give the card too and you got 9 dolars back.
Don't sweat the details!!!
because physical currencies are needed as backup incase electronic currencies go offline.
We'll, pay with card will be much more common. Older people (Sorry to sterotype but lets be real about this) just gotta get used to it aswell.
I dont like having cash on me, besides it fills up inn my wallet...annoying. Also less safe etc.
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