TexasCHLforum.com

I wonder how much longer we will have "REAL" money ? Banks , government , many financial institutions would prefer electronic money . I personally see problems with it but many (mostly younger folks ) think it's the way to go . It's already to the point that some business's will only accept cards or electronic payment . Do you think it's good or bad ? When do you think the end for cash will be ?

We haven't had real money for quite some time.

been heading that way for long time -- another way to track what or how much you have -- cant hide it if its in bank

In the not so distant future, food, ammo, and toilet paper will be money.

Anygunanywhere

SQLGeek wrote:We haven't had real money for quite some time.

Fiat money....only worth what the economy / govt. says it is. No intrinsic value. As Anygun said, food, ammo, etc. has tangible value in a a problem arises scenario..

chuck j wrote: It's already to the point that some business's will only accept cards or electronic payment .

Never seen a store that did not take cold hard cash.....

Dirthawking wrote:

chuck j wrote: It's already to the point that some business's will only accept cards or electronic payment .

Never seen a store that did not take cold hard cash.....

Dirthawking I havent seen many but there is a video rental here , two hotels insisted on plastic , the self serve gas stations that only take plastic , etc . Many business owners dont want employees to have access to cash , theft is high . Takes plastic for a reservation with anything out of your town , things are much more geared toward electronic payment . People have ben convinced that cards are safer , easy to use , they give discounts , cards dont carry germs , cards are modern and trendy , show your children you love them by getting them credit cards ....bla bla bla .

I'm 23. I still prefer to use cash. Its easy to spend more than you can afford to with a debit card. I don't have a credit card. With cash, you know how much your actually spending.

On an only slightly related note, I stopped at a drive-through for a heart-attack-in-a-sack this afternoon, and saw a sign that made me say "Hmmmm..."

"ID Required with bills over $20"

As a former convenience store owner and storefront operator, I understand the need/desire to keep low amounts of change in the drawer, thus making it hard to break large bills...but on the other hand, I've always had an issue with flat-out refusing to accept large bills...yes, I see the dilemma. I've even seen a few convenience stores that refused to accept $20's (although I never saw it enforced).

But trust me, I will NOT be providing identification just to break a $50 or $100 bill where a place is willing to accept it in the first place...

So yeah, I've wondered about the future of our cash transactions as well. I'm even guilty of not carrying cash very often these days...but that's out of my own convenience. On the other hand--I can't bring myself to whip out the debit card for a coke and a candy bar at the 7-11.

Dirthawking wrote:

chuck j wrote: It's already to the point that some business's will only accept cards or electronic payment .

Never seen a store that did not take cold hard cash.....

How about L1 / Morpho Trust?

I'll plead ignorance , please explain . I'm not too bright . Thanks !

That would be the fingerprint/photo place. Did you not go there for your initial CHL app Prints 4 years ago?

AEA wrote:That would be the fingerprint/photo place. Did you not go there for your initial CHL app Prints?

I didn't...

Dirthawking wrote:

chuck j wrote: It's already to the point that some business's will only accept cards or electronic payment .

Never seen a store that did not take cold hard cash.....

The problem is that we haven't had cold, hard cash money in general circulation since 1964. Paper currency is not cash. It's not dense enough to be cold, nor it capable of being hard. Cash is coinage minted in precious metals, Gold, Silver, Platinum. The term "cash" developed during the pre-eminence of the Honorable East India Company, and is based on a Sanskrit/Persian word karsa/karsha which were units of measurement for precious metals.
The Federal Reserve Notes that are used as legal tender only have value if everyone believes they do, just like bitcoin only has value for the folks that believe it does.