Nosy banks

That’s some next-level nonsense right there.
Seriously, what kind of lifestyle are they planning to maintain once those credit card bills actually start coming due?

If someone doesn't actually need full banking services, they can just stick with a basic checking account. 👍

wiredlynx28 said:If we went back to a cash-only economy, Americans would suddenly realize how broke they actually are and wouldn't be able to sustain their current lifestyles at all.
Without overdrafts, credit cards, installment plans, mortgages, personal loans, or leasing, people simply couldn't afford half the stuff they own thanks to modern banking services.

I never actually suggested that we should ban banks entirely, since anyone who wants to use them certainly can
I just really wish we had the actual freedom to choose our own way of doing things, because right now, it feels like that choice has been taken away from us.

Dennis Fisher5 said:I never actually suggested that we should ban banks entirely, since anyone who wants to use them certainly can
I just really wish we had the actual freedom to choose our own way of doing things, because right now, it feels like that choice has been taken away from us.

What kind of choice are you talking about?

Charles Ramos7 said:What kind of choice are you talking about?

I mean, the whole idea is just that if you really wanted to, you could actually receive your paycheck in cash without having to deal with any banks at all,

Physical cash is on its way out.
Between contactless cards, wearables, digital wallets, and whatever other tech gadgetry they dream up next, we're moving toward a cashless society. In major US cities, you’re already seeing shops that won't even look at a dollar bill—it's all plastic or smartphone taps from here on out.

wiredlynx28 said:Physical cash is on its way out.
Between contactless cards, wearables, digital wallets, and whatever other tech gadgetry they dream up next, we're moving toward a cashless society. In major US cities, you’re already seeing shops that won't even look at a dollar bill—it's all plastic or smartphone taps from here on out.

well, I think that’s actually the heart of the whole issue here because why on earth should it just disappear? It should probably exist alongside everything else, since when we move entirely to digital, we essentially become slaves to a system where a single mouse click can wipe out our entire savings.

besides, I’m not entirely sure how the big banks are going to handle themselves in this new digital landscape once they have to go head-to-head with cryptocurrencies.

Dennis Fisher5 said:well, I think that’s actually the heart of the whole issue here because why on earth should it just disappear? It should probably exist alongside everything else, since when we move entirely to digital, we essentially become slaves to a system where a single mouse click can wipe out our entire savings.

besides, I’m not entirely sure how the big banks are going to handle themselves in this new digital landscape once they have to go head-to-head with cryptocurrencies.

Nobody is saying it won't exist. The real headache right now is actually the opposite—in plenty of places, you don't even have a choice because they only take cash.

I'm not convinced how much crypto will actually matter if our paychecks and everyday prices stay tied to the US dollar.

Charles Ramos7 said:Nobody is saying it won't exist. The real headache right now is actually the opposite—in plenty of places, you don't even have a choice because they only take cash.

I'm not convinced how much crypto will actually matter if our paychecks and everyday prices stay tied to the US dollar.

I guess both ways have their pros and cons, though it’d be nice if there was one payment method that covered everything. Maybe crypto comes closest to that. I suppose the catch is that what works for one person might be a drawback for someone else. Cash will probably fade out eventually, and those of us who value privacy might lean more toward gold or crypto, even if that ends up being limited too.

Quincy:

I'm not sure how much crypto matters if both wages and prices are still set in actual currency.

What do you mean by "actual currency"? You mean this fiat money backed by someone else's debt? I mean, there's an exchange rate for everything, right?

Nathan Morris3 said:I guess both ways have their pros and cons, though it’d be nice if there was one payment method that covered everything. Maybe crypto comes closest to that. I suppose the catch is that what works for one person might be a drawback for someone else. Cash will probably fade out eventually, and those of us who value privacy might lean more toward gold or crypto, even if that ends up being limited too.

Quincy:

I'm not sure how much crypto matters if both wages and prices are still set in actual currency.

What do you mean by "actual currency"? You mean this fiat money backed by someone else's debt? I mean, there's an exchange rate for everything, right?

Yeah.

Nathan Morris3 said:I guess both ways have their pros and cons, though it’d be nice if there was one payment method that covered everything. Maybe crypto comes closest to that. I suppose the catch is that what works for one person might be a drawback for someone else. Cash will probably fade out eventually, and those of us who value privacy might lean more toward gold or crypto, even if that ends up being limited too.

Quincy:

I'm not sure how much crypto matters if both wages and prices are still set in actual currency.

What do you mean by "actual currency"? You mean this fiat money backed by someone else's debt? I mean, there's an exchange rate for everything, right?

First off, we have regulations and laws to deal with. If the only legal tender allowed is "this fiat money backed by someone else's debt," then the exchange rate doesn't really matter.

Charles Ramos7 said:Yeah.

First off, we have regulations and laws to deal with. If the only legal tender allowed is "this fiat money backed by someone else's debt," then the exchange rate doesn't really matter.

In an ideal—and totally sovereign—world, the people actually living in the country would be the ones making the rules. But with the USA and stuff like that, I guess this battle might already be lost. The system wants oversight even on a gold coin you give your grandson, just so they can tax it later. And honestly, the more control they have over money, the more they can just create it out of thin air. That’s what scares me most. Right now, banks still have to listen to their customers and their concerns, besides just following the regs. In a cashless society, where a bank run is basically impossible because everything is just virtual, some totally different set of rules will take over. And trust me, those rules won't be in our favor. It's not just about the government taxing every little thing; it's more about losing freedom. We could end up becoming slaves to the system. Whoever controls our money, controls us. This tiny bit of cash still floating around is really our last line of defense 😁. Luckily, the Germans still value cash quite a bit, so maybe they won't give up that easily.

Nathan Morris3 said:In an ideal—and totally sovereign—world, the people actually living in the country would be the ones making the rules. But with the USA and stuff like that, I guess this battle might already be lost. The system wants oversight even on a gold coin you give your grandson, just so they can tax it later. And honestly, the more control they have over money, the more they can just create it out of thin air. That’s what scares me most. Right now, banks still have to listen to their customers and their concerns, besides just following the regs. In a cashless society, where a bank run is basically impossible because everything is just virtual, some totally different set of rules will take over. And trust me, those rules won't be in our favor. It's not just about the government taxing every little thing; it's more about losing freedom. We could end up becoming slaves to the system. Whoever controls our money, controls us. This tiny bit of cash still floating around is really our last line of defense 😁. Luckily, the Germans still value cash quite a bit, so maybe they won't give up that easily.

I'm not saying you aren't right, but we aren't talking about that. Again, if cash dies out as a way to pay for things, it doesn't mean it ceases to exist entirely. Though, let's be honest, it's never really been practical for daily transactions anyway.

Charles Ramos7 said:I'm not saying you aren't right, but we aren't talking about that. Again, if cash dies out as a way to pay for things, it doesn't mean it ceases to exist entirely. Though, let's be honest, it's never really been practical for daily transactions anyway.

Look, let's be real. I'm the first one to admit cash is totally impractical—it's easy to fake, leads to skimming, fraud, theft, or just simple math errors... there's no debate there, and yeah, the future for cash probably isn't looking bright. But it's also basically that line in the sand where we protect our freedom and privacy.

Whether it disappears completely or just becomes niche is actually kind of irrelevant, I guess. Because once you hit that point where even a few percent of shops won't take cash, the war is already lost. It means that in a couple of years, people might start looking at you like a criminal just for trying to pay with paper money.

It feels like we're just "waiting" for the generation gap to happen. Just like how kids today don't really get what a cassette tape is, maybe future generations won't even know what cash is.

Nathan Morris3 said:Look, let's be real. I'm the first one to admit cash is totally impractical—it's easy to fake, leads to skimming, fraud, theft, or just simple math errors... there's no debate there, and yeah, the future for cash probably isn't looking bright. But it's also basically that line in the sand where we protect our freedom and privacy.

Whether it disappears completely or just becomes niche is actually kind of irrelevant, I guess. Because once you hit that point where even a few percent of shops won't take cash, the war is already lost. It means that in a couple of years, people might start looking at you like a criminal just for trying to pay with paper money.

It feels like we're just "waiting" for the generation gap to happen. Just like how kids today don't really get what a cassette tape is, maybe future generations won't even know what cash is.

In some ways, we’re already there. It’s not just a few places; it’s basically everywhere once you hit a certain price point. In Italy, they used to have limits around $1,000, though I think they bumped it up toward $3,000 recently.
By the way, if you're struggling with the cashless trend, I'd be more than happy to take your cash and pay with my card instead. Honestly, it’s a win-win for me—I actually love seeing people use cash because those transaction fees are pure profit. If everyone paid me in cash, I’d be living like a Senator.

Nathan Morris3 said:Look, let's be real. I'm the first one to admit cash is totally impractical—it's easy to fake, leads to skimming, fraud, theft, or just simple math errors... there's no debate there, and yeah, the future for cash probably isn't looking bright. But it's also basically that line in the sand where we protect our freedom and privacy.

Whether it disappears completely or just becomes niche is actually kind of irrelevant, I guess. Because once you hit that point where even a few percent of shops won't take cash, the war is already lost. It means that in a couple of years, people might start looking at you like a criminal just for trying to pay with paper money.

It feels like we're just "waiting" for the generation gap to happen. Just like how kids today don't really get what a cassette tape is, maybe future generations won't even know what cash is.

What kind of business would ever implement such a rule without any external pressure—effectively turning away a portion of their own revenue?

Laura Chavez93 said:What kind of business would ever implement such a rule without any external pressure—effectively turning away a portion of their own revenue?

They might lose some revenue, sure, but they’d slash overhead costs—kind of like how people predict self-checkout will work. You just grab your stuff and head out. Not to mention how easy everything is with online shopping now.

Laura Chavez93 said:What kind of business would ever implement such a rule without any external pressure—effectively turning away a portion of their own revenue?

I guess you haven't made it over to Sweden yet, right? 😉

Charles Ramos7 said:They might lose some revenue, sure, but they’d slash overhead costs—kind of like how people predict self-checkout will work. You just grab your stuff and head out. Not to mention how easy everything is with online shopping now.

Stores actually deal with a huge headache when it comes to cash. They have to pay for armored truck services, waste resources checking for counterfeit bills, deal with counting errors, handle torn money, worry about outside theft, or make sure employees aren't skimming off the top. Plus there's register audits and the fact that handling cash often takes way longer than just swiping a card... I don't know if there's any actual benefit left for retailers in using cash.
And obviously, you have to ask who ends up footing the bill for all that? The customer, I guess. It might get to the point where paying with cash actually becomes more expensive soon.

Nathan Morris3 said:Stores actually deal with a huge headache when it comes to cash. They have to pay for armored truck services, waste resources checking for counterfeit bills, deal with counting errors, handle torn money, worry about outside theft, or make sure employees aren't skimming off the top. Plus there's register audits and the fact that handling cash often takes way longer than just swiping a card... I don't know if there's any actual benefit left for retailers in using cash.
And obviously, you have to ask who ends up footing the bill for all that? The customer, I guess. It might get to the point where paying with cash actually becomes more expensive soon.

I'm living for that day. 🎉 Then all those people who refuse to use cards will be coming to me for help. 😁

Nathan Morris3 said:I guess you haven't made it over to Sweden yet, right? 😉

Well, obviously you haven't either. 🍿

I mean, my take on this... I guess the future is just going to be Apple Pay, though honestly, it feels like it's already here, even if we're talking about all different kinds of currencies.

So, like, some kind of digital wallet that maybe just reacts to a fingerprint or an iris scan to activate, and it probably won't even be constantly linked to the banks at every single second.