Posted on 04/15/2022 10:37:51 AM PDT by Kaslin
Little by little, our society is going cashless. More and more people are jettisoning cumbersome coins and notes in favor of the convenience of instant electronic transactions. They might be quicker and easier in the moment but going cashless comes with grave implications for our privacy which we risk forgetting.
When it comes to privacy, nothing comes close to cash. It is the most private form of transaction and the most anonymous. By contrast, electronic payments involve providing personal information not just to merchants, but also third parties.
Electronic payments, on the other hand, present privacy risks that cash payments do not. The convenience of paying electronically means, inevitably, your data and your money must be stored remotely elsewhere. That makes it vulnerable to being exposed in data breaches. It exposes you to fraud and makes your personal data ripe for hackers and other criminal actors.
It is easy to dismiss that idea as an abstract threat. What are the chances of that happening to me, you might ask. In fact, it probably already has happened to you. Alarming research suggests that 15 billion credentials are in circulation on dark web marketplaces used by criminals to trade stolen data.
(Excerpt) Read more at townhall.com ...
The problem is, a massive majority of people DO ignore the implications of going cashless.
But there are a lot of people, very, very bad people, who not only do not ignore it, would wish to exploit it.
The end of cash will be a dystopian nightmare.
Just yesterday we went to a restaurant with a sign posted out front that said their computer was down and they could serve only cash customers.
Except almost every transaction is also video taped.
That horse has left the barn.
I’ve been pretty much ‘cashless’ my whole life!.............
I actively work to use cash in part to help keep the usage alive. I suggest other FReepers do the same.
And who’s going to stop the government from directing the banks to freeze your credit/debit cards so you can’t purchase anything until you comply with their insane mandates, or until you buy an electric car, or put solar panels on your roof, etc?
I went through a Jack in the Box drive-thru a few weeks ago that had a sign saying cards only. They’re right on the interstate so maybe they’ve been robbed and decided to do away with cash. I don’t think it was a matter of having run out of change as the signs looked like they’d been up a while.
Cash Fridays is a thing.
Typhoons, floods, and earthquakes have messed up our internet and banks here in the Philippines usually for a short time, but still it was inconvenient.
And then there are really serious things that could mess things up, like war and solar flares.
Watching GoFundMe cut off the the Canadian truckers access to their money should have opened a lot of eyes.
just remember ....you go cashless...your med records accessible to all ...don’t be angry when you go get your everytbing bagel with egg, bacon and sausage, and the transaction machine returns with “denied, per doctor’s order!”
also,again, you are at your sports store purchasing your latest cartridge loading for your favorite schutszen, and the transaction machinereports: “denied, doctor refuses firearms related purchases!”
Just imagine if you fail to properly sing the praises of Dear Leader? You will wish you were never born.
He’s sweating the small stuff
I have been pretty much cashless for several years now. It’s not for all because all do not have outstanding banks with which to deal.
All my clients deposit invoice payments to my checking account. Social Security deposits checks to my personal account. In the event a check is received, I punch the deposit button on my bank phone ap, take two pictures and the deposit is made.
All payments made are electronic, by credit card or by the bank or credit card payment system.
Cash payments are pretty much to my barber and the boy who does some occasional yard work. Oh yes, my mechanic needs a check for oil changes etc
When I receive my credit card statement there are all payments for review. There are almost no checking account reconciliation. It’s all there on my bank web statement. My business requires me to write checks for expenses to various accounts. A single payment for all is made to the credit card and then each paid item is posted to the correct account. That makes the expense ledger with all expenses posted to the correct account.
All business is conducted electronically with virtually no cash changing hands. Retail vendors do handle cash but much is electronic
Money is not green paper. Money is now blips on electronic ledgers
“That horse has left the barn.”
Roger that.
I’d bet for every $100,000 a household spends in America, 99 percent is not done by bills or coins.
One EMP and starvation.
Track the progress of Central Bank Digital Currency here; https://cbdctracker.org/
Canada, China, Saudi Arabia, France, Uruguay and SA are piloting CBDC. Nigeria has fully implemented it.(Nigerian Princes hardest hit) Philippines and Ecuador cancelled their pilots. US and many others are researching it. Others are in the Proof of Concept stage.
Another possibility is that the workers they hire are so uneducated they cannot make proper change.
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