[Misc] When will cash disappear ?

[studio150]

6th April 2083

 

[Cowfold Seagull]

Hmm, we need to work together here - it's the same one!

Derrrrrr!

Probably bump into you most Friday nights, there or the London House.

I'll be sure to wear my scarf the next time.

 

[Super Steve Earle]

Derrrrrr!

Probably bump into you most Friday nights, there or the London House.

I'll be sure to wear my scarf the next time.

I'm a Tuesday man myself, just like tonight. Large cod, small chips - more than enough for me and Mrs Earle.

 

[Swansman]

Here... 3-4 years. The banks are very keen on making it happen obviously as it would give them insane control, power and profit but people have the same attitude as Mustafa here and are too naive to realise the problem.

 

[Not Andy Naylor]

When the beggars outside my local Co-op start using contactless.

 

[Gwylan]

This crops up over and over again. We're nowhere near becoming a cashless society.

Our local chippy will only take cards if you spend £15. The Chinese takeaway we use is cash only. The Thai takeaway we use is cash only. The veg stall in the market is cash only. Our window cleaner is cash only. Most of the shops we go to will only take cards for amounts above £5.

The place where I bought my son's bike: cash only. The Turkish restaurant we ate in just before lockdown: cash only.

Hell, I was reading that Ghislaine Maxwell paid for the house where was arrested in cash - that's a million smackers.

Cash is here for a long time

 

[Weststander]

It needs to stay, otherwise 100% of small businesses and traders will end up declaring their income to HMRC.

 

[Gwylan]

It needs to stay, otherwise 100% of small businesses and traders will end up declaring their income to HMRC.

And can you really see the local hipsters heading down to The Level to buy a bag of sensi on a card? Do you expect them to give VAT receipts too?

 

[Poojah]

Same here barber is the only time I use cash these days.

Same here. It’s so cheap these days for small businesses to operate cashless payment technology I don’t see it being long before that’s no longer the case either (I haven’t yet been back since lockdown, it may already be the case).

After all this, I suspect 90% of society uses cashless payments 99% of the time - it would be 100% if it weren’t for those odd occasions like getting a haircut. However, I think that 10%, mostly older people who are understandably phobic of technology will mean that we are still a good decade or so from the complete elimination of cash. For anyone who would prefer not to use cash, I suspect they may have that luxury within three years.

 

[Bozza]

The Tooth Fairy will have a lot to say about this.

 

[beorhthelm]

decades away. not sure its even possible, need some form of backup to all digital. one national network outage and no one can trade. maybe a cryptocurrency with temporay local validation could fill the gap, it doesnt exist yet though.

 

[dsr-burnley]

There are absolutely no benefits to cash in a digital age.

There are two very obvious benefits.

1. The running costs of cash are much lower than the running costs of a smartphone.
2. If someone steals your cash, they can only get the amount that's there. If they steal your phone, they can potentially clear the account.

You might believe that those advantages aren't enough to outweigh the costs for you personally. But don't claim that they aren't advantages.

 

[Weststander]

And can you really see the local hipsters heading down to The Level to buy a bag of sensi on a card? Do you expect them to give VAT receipts too?

Narcotics .... how are addicts and punters going to pay?

 

[Saunders]

Hmmm my local one, and now yours too, l wonder what it is with shops of this ilk?

Its been a while since i worked in this area but larger businesses get a better deal with card companies for the percentage of cost per transaction to the business. The consumer doesnt pay it hte business does so they get 100% for cash. If a business feels they get more custom through card they can figure it is worthwhile paying the cost. For places like a chippy that doesnt do deliveries it probably isnt worth it.

In the future though I think banks will be more and more reluctant to take large amounts of coins/cash because it costs them and they may start to pass that cost on.

 

[Psychobilly freakout]

Narcotics .... how are addicts and punters going to pay?

Exactly So much crime is cash driven, and so many people in power get kick backs, organised crime needs cash.

 

[Swansman]

Narcotics .... how are addicts and punters going to pay?

Exactly So much crime is cash driven, and so many people in power get kick backs, organised crime needs cash.

More or less every dealer here accepts mobile payment through the Swish app. Can't see why it wouldnt work elsewhere, like the UK.

 

[Weststander]

More or less every dealer here accepts mobile payment through the Swish app. Can't see why it wouldnt work elsewhere, like the UK.

Ta, I’ll get the Swish app.

 

[Swansman]

Ta, I’ll get the Swish app.

I think some kind of Swish-like app is bound to get really big in UK as well. Pretty obvious development: smooth and quick and requires no card reader. Its already growing really big in a lot of countries in Europe & Asia, you are just a bit slow on the ball over there.

 

[5ways]

Have not used cash in years here in China.

 

[Perfidious Albion]

Last Summer I was refused a card payment offered in the cafe in East Dean, unless I spent £5. I told them they had a 20fh Century attitude.....
Without cash how would we settle personal debts to each other , say I owe you £10?
Does not currency need hard notes and coins behind it ? Otherwise it is dodgy like Bitcoins........