- May 8, 2018
- 10,483
“A friend of ours” shirely?I'm an undertaker not the Gambino family
“A friend of ours” shirely?I'm an undertaker not the Gambino family
Turkish barber?Only two people I us are not cashless:
Barber - cash
Window Cleaner - cheque (although he does now cash these on-line)
Or Pizza delivery.Sweden ... I'm sure I read somewhere (5ish years ago) that the government there recommended that each household kept a sum of cash (£400?) locked away at home to protect themselves from the internet crashing .
QPR fan, but decent blokeTurkish barber?
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
Totally agree,, if the only payment option fails the provider should forfeit the charge.That’s humans fault. They should have just lifted the barrier. Problem solved.
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?That's happened already; the bank I went to is shutting down this week! I think there's a way to get from an ATM without a card but I've not used it yet. But that would be useless if everything is cashless.
And those people who say loading a card on your phone would solve this: it doesn't, because if you stop your card when it's lost, then the one loaded on your phone is stopped too.
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.The card I have is a virtual debit card, it has a different number to the physical debit card I also have on the same account. This is why it works when I lost all my physical cards. Maybe your bank also offers this?
The issues you have stated with losing your cards all seem to be resolved with current processes and tech.
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 increaseI'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.
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.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
Apologies if someone else has mentioned this already but when was the last time a discount was available for cash? Outside of tax avoidance?Best long-term argument I've heard for "against" is that £10 isn't worth £10 after just one transaction. Leaving Shops to one side (the major places where one has always tended use card payments), the chiropractor you go to, or the local bike repair shop, or the little pub on the corner, it's always best to pay in cash if you can.
The really interesting science programme Secret Genius of Modern Life (iPlayer) looks at how credit cards came to be; fascinating on its own, but the technology behind 'tapping' is astounding, what the card people (usually Visa) do in a fraction of a second is amazing - my point being that it has to be paid for. So why pay for it if you don't have to?
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.
Went to a school fete on Saturday - no sign of a card machine.Car boot sales………can’t see these being cashless?
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.
It’s not a theory though. That guy from the WEF (2nd link) explains what they can do with a programmable CBDC.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.