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    afisher

    Is going completely cashless a good idea?

    5


    According to the New York Times, we’re becoming a cashless society:

    The pandemic is propelling a shift toward a cashless society in ways that no other single event has. Experts say that’s not necessarily a good thing.

    Our Cash-Free Future Is Getting CloserThe pandemic is propelling a shift toward a cashless society in ways that no other single event has. Experts say that's not necessarily a good thing.www.nytimes.com

    Personally, the only cash I have used for the last few years are the $2 and $5 bills I use to tip the car wash guys and airport bus drivers.  Everything else goes on my credit card or PayPal.

    But what about the un-banked or under-banked who do not have access to our electronic payment systems?  Who don’t have Visa and Mastercard, PayPal and Venmo, or any other form of electronic cash?  How are they supposed to buy everyday things – like food! – if stores don’t take cash?

    And what about totalitarian states like China where they could potentially disable your electronic payment ability if your social score is too low?

    • I can see it coming and it makes sense right now but I'm not a big fan. I like using cash when possible because it's a lot easier to keep track of how much money I have when it's just X 20's in my wallet VS a number I occasionally check. I've already had one moment of owing a decent bit more on my CC than I expected these last few months.

    • And what about totalitarian states like China where they could potentially disable your electronic payment ability if your social score is too low?

      I thought that concept originated in USA, where (depending how one wears their tin foil hat) the true capitalist sharks or the gov are no longer content with hoarding cash, and want to control population further? So it's going to be built right into the Tesla firmware, and use Twitter and Facebook API?

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