Sounds like an awesome idea. I wish it was like that in the UK. Most places accept card but some charge you an extra amount if you don't pay more than £3 or whatever. Not to mention buses only take cash, and bus drives are really fussy about £10 or higher notes, so it means that if you don't have any money in your wallet, you have to go to a cash machine, withdraw money, then go to a shop to get change. Then probably wait half an hour for the bus since they're never on time
[QUOTE=Captain Lawlrus;35229058]or we could continue to use physical currency, which has posed very few problems throughout the past thousands of years. I know more victims of credit card theft than I know mugging victims.[/QUOTE]
Physical money is filthy and disgusting, toilets are far cleaner than them. This move could actually decrease germ spreading significantly.
And it's easier to avoid digital money theft. Lock screens, passwords, pins, etc. Welcome to the digital age.
[editline]21st March 2012[/editline]
Cash is also inconvenient, since you have to deal with archaic and unintuitive concepts such as change and not as simple as a scan or pin code.
But without cash what will the conspiracy theorists do?!?!
[QUOTE=AceOfDivine;35229601]What if you didn't have cash? It's not your fault they don't accept cards.[/QUOTE]
How were we supposed to know that? We didn't go in and asked about it before we ordered our food. We've been paying with our cards for years, it just sticks to you.
Luckily, if we didn't have cash there were an ATM at the corner nearby. We withdrew more cash to be prepared for the day after.
I don't think the internet is too secure for this.
It'd be bad in almost any other country, but this is Sweden. It's a population of 9 million, almost all of which are extremely intelligent.
Maybe it's just because where I live we're as far away from being cashless as possible, but I can't imagine how that works. How would I do stuff like give my friend a € for driving me to work or buy stuff as a 7(0) year old.
It also sounds really convenient. Paying with your CC is expensive (for the seller) and insecure (because there's no PIN), paying with your debit card is about 5x slower than coins for small transactions (like buying chewing gum or a beer) and not everyone has an NFC-enabled smartphone and there isn't even an open, accepted standard for NFC based transactions.
What would be the economic impact of this? It was already mentioned in the article that banks would see increases in transfer fees, but does the lessened amount of needed services to handle the actual money offset that cost on businesses?
change your money name to credits, then watch the future roll in!
[QUOTE=DaysBefore;35232662]But without cash what will the conspiracy theorists do?!?![/QUOTE]
Uh what?
If anything a cashless society would make the way fiat money and debt-based money works even more hidden to the general populace.
This wouldn't work in reality. Yes, it might seem like a good idea on paper but the society isn't ready for this kind of technologies. In the smaller cities of Sweden, the infrastructure still is pretty outdated and cannot be compared with modern Stockholm. Besides, the Internet wouldn't be ready for this either, with shitstains like Anonymous who think they are saving the world.
I usually don't go by bus but when I do, I prefer to pay with cash.
[QUOTE=Intoxicated Spy;35233256]change your money name to credits, then watch the future roll in![/QUOTE]
It only makes sense if you use credit cards
[QUOTE=JustExtreme;35233272]Uh what?
If anything a cashless society would make the way fiat money and debt-based money works even more hidden to the general populace.[/QUOTE]
I meant all those idiots who look for hidden symbols on the dollar bills.
[QUOTE=Stormcharger;35225608]I feel sorry for all swede drug users, how will you pay your dealer now??[/QUOTE]
this is the first thing that came into my head too.
[QUOTE=Qubik;35233406]In the smaller cities of Sweden, the infrastructure still is pretty outdated and cannot be compared with modern Stockholm.[/QUOTE]
i disagree
i used to live in the 2nd smallest city in Sweden. there are card readers everywhere. even most villages have card readers
One plus is illegal business will be reduced. Until criminals get card readers.
[QUOTE=AceOfDivine;35234667]One plus is illegal business will be reduced. Until criminals get card readers.[/QUOTE]
I'm quite surprised anyone here thinks that is a plus, considering FP's favourite illegal business.
[QUOTE=Mr. Someguy;35234722]I'm quite surprised anyone here thinks that is a plus, considering FP's favourite illegal business.[/QUOTE]
What is that?
[QUOTE=The Baconator;35234951]What is that?[/QUOTE]
Drugs, obviously.
[QUOTE=Stonecycle;35225407] Surprisingly, it's not the US going through this.[/QUOTE]
The US still barely use the metric system, I doubt they will be switching to cashless anytime soon
[QUOTE=Ghost656;35230959]I wonder how many of your posts are about drugs.[/QUOTE]
Why would it matter?
[QUOTE=Luafox;35237150]but no bus in sweden takes cash?[/QUOTE]
Actually some buses indirectly do because for instance in south eastern Sweden usually KLT (Kalmar Läns Trafik) take cash on the bus itself when they sell their "pre-paid" travel cards and they don't accept paycards or creditcards (I'm fairly sure).
And for those that wondered you can get a paycard in Sweden when you are 13. Some cards can even be used to buy stuff online as well.
Problem with going cashless I guess would be what would happen if the infrastructure would go offline. Imagine for example a terrorist attack which would target the servers that keep everything running. There would be no cash to use, and that would drag the economy to a halt until the infrastructure would go back online. Physical money only requires two parties; the buyer and the seller. Using debit and credit cards requires a third party to authenticate every transaction.
Also, cash is far easier to transfer between people for non-business related transactions. If you're lending a friend five dollars, all you'd need to do is give him or her a five dollar note. Right there, done. If you had to use cards, you might have to use internet banking to transfer money or do it at a bank, or worst comes to worst then give your card to your friend.
I wouldn't want the US to do anything like this. I don't know if it's just me, but the feeling of a few crisp dollar bills is a good feeling.
[QUOTE=HorizoN;35231225]I got mine at 11 years old here in Canada but it's probably different in Sweden.[/QUOTE]
I first created a bank account at the credit union here in Northern California when I was 15. They didn't give me a debit card until I was 18, and in those three years I was stuck with a shitty ATM card which couldn't be used anywhere except the bank's ATMs.
This will stamp out cash paid work, which is GREAT for employees working for other people.
With cash, people are very often underpaid and generally fucked over for genuine hard work, it happened to one of my ex girlfriends. Soon as she noticed and let them know they were paying her wrong she was told her job no longer existed.
The next day there was a sign promoting junior positions available.
This also stops dodgy as fuck shops from avoiding tax, which pisses me the hell off. I work hard for my money in my own business and accept the fact I am taxed, and seeing innumerable businesses fucking over the people of their own country disgusts me.
There's lots of downsides of having no cash though.
[QUOTE=Cuel;35234622]i disagree
i used to live in the 2nd smallest city in Sweden. there are card readers everywhere. even most villages have card readers[/QUOTE]
Yes, there are card readers everywhere but what I meant with infrastructure was cars, roads etc. Since there are no subways in other parts Sweden this technology would become pretty useless.
The idea of not using money would be great in Stockholm since it would make everyday life there so much easier but on the countryside of Sweden this would just fuck up everything.
[QUOTE]but no bus in sweden takes cash? [/QUOTE]
Yes they do. Atleast where I live.
[QUOTE=Stormcharger;35225608]I feel sorry for all swede drug users, how will you pay your dealer now??[/QUOTE]
[img]http://www.babspaylink.se/images/products/Vx670_340px.jpg[/img]
Sorry for the late
I could see this going really wrong if they start taxing people automatically for personal transactions like some guys grandson fixing his grandfathers friends PC or some shit and getting rewarded with €20. I don't see why the government should get a cut in things like that.
Hey maybe payment-in-kind will become the primary mode of transfer for things like that just to cut out the tax man and a moneyless society will emerge...
[QUOTE=Qubik;35242006]I meant with infrastructure was cars, roads etc. Since there are no subways in other parts Sweden this technology would become pretty useless.
The idea of not using money would be great in Stockholm since it would make everyday life there so much easier but on the countryside of Sweden this would just fuck up everything.[/QUOTE]
i don't understand how cars and roads could affect this. what makes stockholm so much different from other cities in sweden?
[QUOTE=Qubik;35242006]Yes they do. Atleast where I live.[/QUOTE]
where?
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