Cashless society... you in?

[Queen K]

India is defending it's move to limit large denomination currency in an effort to squash it's large "shadow economy" that's little people getting a bit ahead folks. The woman who takes in laundry and makes ghee for those will to pay for it.

What country will be next? And if a country of over a billion people can get away with it, I wonder who else will be going cashless?

Read here:

http://www.reuters.com/article/us-india ... SKBN14K0G2

[GordonH]

So if world was to go into fully cashless society. It would cause problems for those dealing in illegal items i.e the illegal drug industry, buying & sellin of stolen items.

[w84u2]

So if world was to go into fully cashless society. It would cause problems for those dealing in illegal items i.e the illegal drug industry, buying & sellin of stolen items.

Well until someone steals your "Smartphone" and beats you into submitting your passwords.

[Woodenhead]

So if world was to go into fully cashless society. It would cause problems for those dealing in illegal items i.e the illegal drug industry, buying & sellin of stolen items.

Not at all. They'll just use bitcoin + darknet markets, & similar things. Many already do. Nothing is out of reach, so long as you know where to look.

I look forward to the day I can buy a gun with dogecoin on an i2p black market and have it delivered to my door via autonomous drone.

[Queen K]

So if world was to go into fully cashless society. It would cause problems for those dealing in illegal items i.e the illegal drug industry, buying & sellin of stolen items.

It's only a problem if you view having cash only in terms of criminality.

There are many reasons to keep cash.

One is that businesses are being crushed under terms and percentages paid per transaction via debit and credit cards.
Second I'd argue the most important is that cash is the LAST way to retain privacy in any form.
Your Health insurance can not be tied to your purchases so easily.
You can't be controlled so easily by a government branch.
Sure your accts might be frozen, but with cash, you can still buy things.
A list of your purchases cant' be read by everyone in particular department. Might seem unimportant until some nitty gritty stuff starts coming out, like privacy and personal tastes and health issues.

There's a small list. But adding 10 more points won't matter, won't add to it.

[GordonH]

So if world was to go into fully cashless society. It would cause problems for those dealing in illegal items i.e the illegal drug industry, buying & sellin of stolen items.

It's only a problem if you view having cash only in terms of criminality.

There are many reasons to keep cash.

Yes, by keeping cash in system. It also keeping the criminal element going.

Let me pick one: illegal drug trade/industry (war on drugs has accomplished nothing, except spend billions of taxpayer dollars.... but drug still come)
2 options to remove illegal drugs trade/industry

1) decriminalized illegal drugs (all of illegal drugs are then regulated & taxed, no more health issues due additives. That should not be in the drug)
2) remove cash

[Woodenhead]

2) is false

[GordonH]

2) is false

Without cash how would transaction be done, without leaving a digital footprint.

[Woodenhead]

See my earlier post. It's common enough, has been for a few years.

[averagejoe]

I'm sure it is coming but if anyone is scared of big brother they should probably be terrified of this. As Queen K stated they will be able to tell everywhere you have been and everything you have purchased. It will be the perfect way to trace someones steps. I know when I contact my bank(s) to tell them I am traveling again they want to know roughly where I am going so they can keep track. I have been cut off a few times and had to phone them to prove it was me. So even now they do have warnings, traces on your activity and if I was worried I certainly would not be confident that law enforcement could not get their hands on the information quite easily whether we like to think so or not.

As someone said earlier paying cash and saving money for the seller and buyer, business or private would end immediately because there would be a trace on every purchase, even a pack of gum. Paying cash for casual labour is gone down the drain. So many little things that many currently enjoy.

Revelation 13: 16-18 King James Version (KJV)

16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.

[GordonH]

See my earlier post. It's common enough, has been for a few years.

Bitcoin so that works cartels, what about street level drug dealer & his/her clients/junkie. Even 1 Bitcoin is (over $1,300 CDN dollars) way out of either level.

[Woodenhead]

Bitcoin so that works cartels, what about street level drug dealer & his/her clients/junkie. Even 1 Bitcoin is (over $1,300 CDN dollars) way out of either level.

lol OK so you're way behind the times with this stuff. I don't have the time or energy to break it all down so I'll just say this much: there's these things called "fractions". Money works with fractions, not only whole dollars. Unless things like nickels and quarters are a figment of my imagination! BTC isn't limited to "nickels" either - it's a decimal representation. A medium Timmy's coffee is 0.00126 BTC. Doesn't roll off the tongue, but you're only clicking a button online. And there's no penny to discontinue, ever.

And regular people use BTC & "darknet" markets for regular little person-to-person drug deals, all the time. I know people who do it & have been doing so - safely - since the early days of the original Silk Road. It's easy stuff for the younger gen who have grown up with computers. I find it all easy stuff, too. Older folks, not so much, I guess.

And in case you want to start your own online drug business, Gordon, here's a decent enough guide:

https://www.deepdotweb.com/2015/12/30/b ... etmarkets/

Honestly, it's quite the rabbit hole. But all easily accessible online.

[zzontar]

Even if criminals found a way around it I think they'd want us to go cashless anyway. The man doesn't even like it when he doesn't know what you're buying at a garage sale.

[Queen K]

I'd say the other way around, how much money you took in at your garage sale. So they can compare it to your living expenses, life style and your last income tax form.

No one cares if you bought Bman's used high heels.

[zzontar]

Bman might care, but you're right, the man wants to know if the lady next door gave you 10 bucks for shovelling her driveway.