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How Feasible is a Cash-Less Society?

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  • How Feasible is a Cash-Less Society?

    "I just today realized that it has been over a week since I physically handled cash money. Due to the use of checks, debit cards, online shopping, automatic bill pay, direct deposit, etc, my family operates on a cash-less basis in the vast majority of our business transactions. With more and more establishments accepting credit/debit cards, how many others are heading the same way?"

    Are the advantages of a cash-less society really all that advantageous? One of the largest proposed advantages of a cash-less society is one of limited-theft, well even though money in a cash-less society wouldn't be tangible, it's no less theft-proof...it just takes a theif of a different calibur to pull it off. Do you feel we are heading toward a cash-less society? Do you think if such a thing were to happen we'd be any better off than we are today?

    "Think about this: if the cumulative value of everything in the world were expressed in measures of gold, which theoretically backs the majority of world currencies, does enough gold physically exist to back the paper money value, or has the paper money itself become valuable?

    And what about this: how is it that the people who depend upon cash are usually in the middle of the financial spectrum, neither the poorest nor the richest? In most extreme poverty situations, transactions are based on barter. For most middle class people and above, transactions involve checks, credit, and electronic fund transfers. For the working poor, most transactions are done in cash. How does all of this add up to the trend toward a cash-less society, where money is nothing more than numbers in a computer transferred from one account to another, to another? How far off is that future?"

  • #2
    Almost there...

    I think the cash-less society is pretty close to here. At least to me it is... I can have my checks from work direct deposited into my bank account, and I can use my ATM almost anywhere, including to get groceries, fuel for the car, even McDonalds.

    I haven't went to a place in weeks that required cash only...just about every business out there seems to have a Debit card or Visa/MC option of payment.

    Except for maybe tollways...I guess you'd have to have change for those. And AM/PM still only does cash in some stores.

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    • #3
      At the tollway I use, I think the company is called "FastTrack", they have a little tranciver thing that you place on your dashboard. I dont really know how it works, I dont use it enough to think about it.
      Actually, I dont pay for the toll. I use it about 8 times a day, its a dollar one way, but my car does not have a license plate (always a reletivley new car)

      So, I have saved over 1,500 thousand over the last year.

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      • #4
        Not bad.

        Come to think of it, I think they have cards too now, right? You swipe it on the way through.

        So much for needing cash there...

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        • #5
          Not really cards. Its all wireless. The little thing (about the size of a wallet), made out of plastic, sits in your car, near the window. When you drive under some kind of sensnor (at almost any speed, usually 50MPH), it beeps, which notifies you that you have been billed.

          At a local Mc Donnalds, I saw the "FastTrak" system being used to pay for food!

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          • #6
            Now that I've never seen before...

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            • #7
              Max Headroom comes to mind, and is rather appropriate. As of now, things are largely credit based. This society encourages and promotes debt. People spend most of their lives paying the various debt that they have accumulated. I do not believe a credit system or debt-based compelled performance to be good things. I also have doubts about a "cash-less society," as you put it.

              As far as gold backing, that is also up to debate depending upon who you talk to. United States currency used to have "Silver Certificates" displayed on the paper money, as it was backed by silver. You could redeem it for silver, upon a whim. These days you will see "Federal Reserve Note." Backing is not a large concern these days. I can appreciate that, to a degree. Money is what you make it. If a person accepts it as it is, all the better. The only problem is that it easier for a currency to lose value.

              To answer your question: yes, cash is already being 'obsoleted.' Some places refuse to take cash or make it difficult, even though it is illegal. But these same institutions try to require a SSN be provided, which is also illegal.

              Take it as you will.

              Regards,

              White Vampire\Rem
              .

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              • #8
                I'm seeing cash as more and more of a hassle for me.. the fast food thing is my catch though, until they start accepting credit. A good first step would be eliminating dimes, nickels, and pennies...
                if it gets me nowhere, I'll go there proud; and I'm gonna go there free.

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                • #9
                  Originally posted by c0nv3r9
                  the fast food thing is my catch though, until they start accepting credit.
                  There are some fast food places that already do accept credit (Burger King here in Phoenix, for example), and some that accept debit cards (McDonalds).

                  I'm waiting for them to accept credit/debit at a snack machine kinda like they do the gas station pumps and stuff. I hate wanting a coke and then realizing I have no change...

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                  • #10
                    hehehe ya, I think it'll be a little while before that stuff makes it up to Maine... I'm struggling to find other geeks to learn off of; makes things sooo much slower need to build a scene up here...
                    if it gets me nowhere, I'll go there proud; and I'm gonna go there free.

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                    • #11
                      with a debit card we're still behind

                      In Sweden you don't use a debit card for gas or a soda, you use your cell phone. Technologically speaking, we are still behind...

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                      • #12
                        I hardly ever use or carry cash now. Just use my debit card for all sorts ... often find myself borrowing money off of friends and then paying them back later when I need immediate cash.

                        My old work used to operate on a cashless system in their dining room and that seemed to work pretty well. The sooner the better I say.

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                        • #13
                          I often operate on a cashless basis... but not quite in the way the original poster meant.

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                          • #14
                            Dont get rid of the pennies and dimes! Thats what my poor ass uses to buy stuff! haha maybe one day ill actually get a job and have some money
                            -=[tnerbz]=-
                            (cool guy)

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                            • #15
                              cashless

                              It'd be cool if we could register for DC10 with PayPal!

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