Unbelievable.
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Garbage, man!
I can’t speak more on it without getting political.
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Who would you even vote for? They both have hair!
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I remember in the mid 80s, after I got my first debit card, having a discussion with my dad and telling him there will soon be a point in time where cash is obsolete. He argued and basically told me I was crazy. It’s coming. Cash creates a lot of problems; tax evasion, cost of making and replacing the physical currency, increased rate of contagion, increased propensity for robberies and theft. Businesses are starting to charge more to use cash (which I think should be illegal but good luck getting that law passed) to offset the liability when they accept physical money.
It will be a dramatic change, that’s for sure, but I’m optimistic that overall it will be beneficial. But I certainly understand the trepidation or anxiety of those who are being paid under the table / cash tips or who don’t want the government being able to track everything they purchase.
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Weird story, considering it’s illegal in NYC for retailer-provided reverse ATMs to charge fees or for businesses to charge additional costs for cash transactions vs. cashless transactions. NYC addressed this in law in 2020.
You sound like a banker.
No optimism at all
This is control and its poo poo ….
Going E*Trade means anyone can lock me out and if you don’t believe that you do not understand cyber security - there is none
Tax evasion is easy to stop; kill the federal tax completely and go with only a higher sales taxes…. No matter how you make your money you then still pay on what you buy….
I glad i should not be alive to see this; unless He has a purpose for me
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I do some project managing for the convention center in PDX. It’s cash free. They have machines around that turn cash info paid cards
Trust me, I understand. But the few transactions that most of us make with cash these days means we are already in up to our necks in vulnerability to electronic scamming / control. Unless you live like Ted Kaczynski. Like with most things it’s not black-and-white and there will be pluses and minuses. But just prepare yourself for a cashless world…it’s coming.
Inevitably true, but that doesn’t mean is still doesn’t suck.
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Maybe. Maybe not. There can be many positives to a cashless society.
But one major negative–the likely incremental loss of freedom.
There is the potential for the banking industry to serve as a surveillance arm of the government to monitor all transactions.
That can lead to a social credit system like China has.
China’s Social Credit System — National High School Ethics Bowl.
‘Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither…’
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They are already doing this. Has it negatively affected your life to this point? Not trying to be hostile, but just generally curious.
Many, many cash transactions (not always) are used for nefarious purposes (drug deals, tax evasion, bribes, sex trafficking, etc). So as someone who leads a pretty straight life, who pays my full share of taxes, I guess put me in the column of willing to give up some of my “freedoms” to reduce drug deals and tax evasion and bribes and sex trafficking. If you think you hate it now, wait until AI gets fully on board. These crimes will become increasingly difficult to navigate…especially when ALL transactions become digital.
To answer your question, no, but I’m looking down the road to the future and my children’s future.
The truckers who protested the (now discredited) vaccine mandate in Canada had their bank accounts frozen.
A cashless society can lead to or reinforce the tyranny of the majority or party in power.
Beyond that, it’s not about crimes, it’s about privacy.
Presently, one can donate cash to a charitable organization or church without it being tracked.
That wouldn’t be the case with a CBDC.
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For you. For me, it is almost purely about reducing crime and making sure people pay taxes on their income. Every dime they don’t pay is a dime I have to pay.
This article show the “how it can be done” …. I’m not looking at the “why” ….
Locking my accounts should not be that easy as all it take is a lunatic in office….
Very scary at how fast and effective they were in Canada
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Right, forcing behavioral compliance is a huge aspect of this. Just ask the CCP.
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It’s an interesting discussion. Some day, we’ll have to create a place for that reasoned discussion. It doesn’t exist right now.
There are many avenues outside of the OTT to have reasoned discussions. To initiate or start, one just needs to engage in good faith.
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