Is CASH on its way out?

PassionateLover2 PassionateLover2
PassionateLover2
Related to: 
The explosion of electronic money, including credit and bank cards, online transactions and paying by mobile technology, has some observers prediction that physical CASH will soon be a thing of the past. It's a good thing, since a cashless society will make life more convenient, eliminate the costly manufacture and distribution of physical money, and help reduce criminal activity and tax evasion. Others argue that cash's demise is not imminent as long as the fees associated with electronic money are high. What do you think?
02/01/2013
  • Save 60% on Spooktacular Kits  - 3 item set
  • Wicked Treats - Save 60% on 3 Item Set

    • Eden leather blindfold
    • Flaming amour silicone pearl bunny
    • Eden's glass ben wa balls
    Save 60% on 3 Item Set

    Expires on Oct, 31 at 3am ET Terms

  • Ghost Bride - Save 60% on 3 Item Set

    • Casper
    • Leather strap rider
    • Simple Clamps
    Save 60% on 3 Item Set

    Expires on Oct, 31 at 3am ET Terms

  • Black Magic - Save 60% on 3 Item Set

    • Eden Beaded Clamps
    • Heart Silicone Beads
    • Onyx
    Black Magic - Save 60% on 3 Item Set

    Expires on Oct, 31 at 3am ET Terms

  • Better Price Sale - Save 70%
  • 1
  • 2
  • 3
  • 4
  • 5
All promotions
Girly Juice Girly Juice
FYI, it seems you accidentally posted this on the Vibrators discussion board!

As for your question - I think cash will be obsolete eventually but not for quite a while yet.
02/01/2013
deltalima deltalima
Quote:
Originally posted by PassionateLover2
The explosion of electronic money, including credit and bank cards, online transactions and paying by mobile technology, has some observers prediction that physical CASH will soon be a thing of the past. It's a good thing, since a cashless ... More
I heard that it is but I like having cash on hand.
02/02/2013
Aishiteru Aishiteru
I hope not....
02/02/2013
Zombirella Zombirella
I don't think so.
02/02/2013
js250 js250
There are too many people who still rely on cash due to their inelligability for any of the alternative cash sources. When poverty disappears, then maybe until then, no. Think of the last very poor person you saw with a credit card, bank account/debit card, etc......
02/02/2013
GONE! GONE!
Not for a long time. There's too many services that require the use of small bills. For example, soda machines and the bus system near me. It would take a lot of money to convert all of them to accepting debit and credit cards.
02/02/2013
Rory Rory
I would say yes it is. It won't happen over night though.
02/02/2013
laflauta laflauta
It will definitely take a while if it does disappear. I know a lot of people, myself included, who prefer cash because we tend to spend less when we have to pay tangible money.
02/02/2013
novanilla novanilla
I don't think it will reduce crime. I think it might reduce certain types of crime but things like identity theft will skyrocket.
02/02/2013
irina09 irina09
Quote:
Originally posted by Aishiteru
I hope not....
same here
02/15/2013
irina09 irina09
Quote:
Originally posted by novanilla
I don't think it will reduce crime. I think it might reduce certain types of crime but things like identity theft will skyrocket.
I agree
02/15/2013
SMichelle SMichelle
No, I don't think that cash is on the way out. I certainly hope not, at least. I do have a bank account and a bank card, but my preferred method of paying for things is in cash.
02/15/2013
PassionateLover2 PassionateLover2
Quote:
Originally posted by SMichelle
No, I don't think that cash is on the way out. I certainly hope not, at least. I do have a bank account and a bank card, but my preferred method of paying for things is in cash.
Cash may stay around for a while, but . . . .?
05/16/2013
Woman China Woman China
Nope. This will not happen until all countries do the same.

I know here in China, it is still a cash society outside of the bigger cities. And when I travel to North America it is hilarious. I pay for everything in cash and get stared at by the check out people that I pay in large amounts of money.

What shocks me even more than their shock, is that they don't have proper change and have to get the manager to bring them change!!!
05/16/2013
alliegator alliegator
No, or at least not for a very long time.
05/16/2013
JackRaiden JackRaiden
I think a very large majority of people will be doing transactions entirely cash-less fairly soon. However, there will always be those 10-20% that need to do things the old fashioned way, off the books, for whatever reason.

Cash also can't be stolen as effortlessly as electronic funds. Much of our financial data is pathetically insecure at the moment, at least in the US. For example, debit cards and are now saved from massive fraud almost entirely by automated fraud detection systems, which are now simply blocking enormous areas from usage: basically half of the US and any foreign country. (Call your bank to turn it off, and see what I mean. Just don't keep it off for long...)

tl;dr: Cash is here to stay, but may become irrelevant for most.
05/16/2013
surreptitious surreptitious
While I think that cash will still be around for the discernible future, I know that I and my family are definitely starting to use it less. Canada has just phased out the penny, so if you don't have exact change, you often wind up paying more. It's absolutely ridiculous to me, because it costs money to run a transaction and you have to report it as income, which means that we generally prefer to pay cash at restaurants so that our server doesn't have to report his/her tip.
05/16/2013
snowminx snowminx
In my world for school we are having to type up every paper we do and then hand them all in printed out. So yeah if I'm still physically handing out papers on things I still have to type up electronically in the first place, I don't see physically money that people use everyday and not everyone has an account to, being whipped out any time soon. Yeah people might be using it less and less but I still use real money for pretty much anything that isn't online for food. It just helps me because I can see the money coming out of my wallet so I have a better idea of what I'm actually spending as apposed to just looking at my account later.
05/17/2013
PassionateLover2 PassionateLover2
Quote:
Originally posted by JackRaiden
I think a very large majority of people will be doing transactions entirely cash-less fairly soon. However, there will always be those 10-20% that need to do things the old fashioned way, off the books, for whatever reason.

Cash also ... More
Thanks for your thoughts; I agree with much of what you have said!
05/22/2013
Total posts: 20
Unique posters: 17