Cashless, cash is no longer King

The use of cash has been in decline for years however now we are seeing far more places not excepting cash due the the Coronavirus. Is this the end of cash in society?
Thoughts?

 

Until technology breaks down again and its just a useless piece of plastic,the summer bushfires exposed a dark side as people could not get access to cash, the banks were closed and critical infrastructure was severely damaged, with no power many ATMs ceased to work , phone services was also severely damaged.

 

So long as there is a need for untraceable transactions there will be a need for cash.

 

Ummm, crypto???

 

I sincerely hope that this expedites cash's inevitable demise!
I would be surprised if cash transactions returned to their old levels. Habits are hard to break.

 

I can see it now - "hey mate, thanks for the garden tidy-up, can you give me 10% off if I pay you for the job in bitcoin?"

 

It seems silly right now, but why not?

 

Jus watch all the drug busts. What do the cops find ? 300K cash ? Yep cash is king. It’s good for the crooks and it’s good for the cops.

 

queensland/a-massive-cash-stash-has-been-unearthed-at-a-gold-coast-building-site/news-

 

...yes i was shopping with mum for mum (in her 80s) who is a migrant with limited language, uses old passbook account only, and at cash register she and I were told she had to pay by card no cash accepted!
Luckily I was with her paid by card and mum gave me cash back.
So there you go no more freedom, let's follow what they tell us to do, and who cares about the elderly with no cards.

 

What would happen to existing cash in circulation? What would some of the older people who strongly believe in cash do? I’m talking the ones that have 50-100k plus

 

they would ask you to deposit it in and pull out certain cash banknote numbers out of circulation.
what would happen to old those migrants having saved for their funerals?
what would happen to gold, being able to sell under $5K for cash, without anyone else knowing it?
what would happen is that your sending habits would be ALL documented and you now will be profiled and your information could be on-sold?
what would happen if you spent too much on alcohol they may classify you as alcoholic, etc...?
what would happen - well you anonymity on what and where and how you spend - would be confiscated basically your FREEDOM is gone and now you just become another IDENTITY (centralised control).

 

My use of cash is declining, because I have less of it than I did 4 weeks ago.

Sorry, it's been a long day lol.

 

So you are willing to give up your last piece of individual freedom and privacy left? Really bad idea with unintended consequences.

 

I see people at auctions pay 5k for an old English Bank note who i have known for 30 years and sell a few months later for 25k,the same as for a roll of rare coins buy for 120 bucks then sell for 3k within a week..
Only my opinion but cash will be here for a while yet,i would not like a world where total control over people through their spending habits are there for a select few to see..

 

Got to agree. I pay for everything with cash. Not because I don't have, or don't know how to use plastic, but because I prefer it.

 

+1!
Plus that's my freedom and my choice.

 

"Cash" is now the king more so than any other recent times. It's just the medium is different this time. The balance in your saving account is cash in digital form. Cash is the best the asset now as oppose to other asset type shares, bonds, realestates or gold etc...