Where does this Slashdot obsession with a cashless/e-gold/alternative currency come from?
Money has been around for 3200 years [pbs.org]. Trade "I'll give you 2 sheep for one cow" has been around for thousands more.
I remember hearing these "cashless society" arguments in 1980. I look in my wallet 23 years later, and I still have a wad of cash in there, along with a credit card and ATM card. Sure, much of my purchasing is electronic, but it's far from cashless.
Now people are again saying "We'll be a cashless society in 25 years", and I still don't believe them. I've heard it before.
It reminds me of the "computers will solve all your paperwork problems. We will be a paperless society in 25 years." Cash is not going away anytime soon just because some money-geeks think they found an alternative.
As Ivanova from Babylon 5 said: "Every time somebody says we're coming into a paperless society, I get 10 more forms to fill out."
I agree. The society is not ready. Even right here in NYC, just go check out chinatown. They don't accept credit cards, much less check and debit. If you work here you get paid in cash in person. If you ask a store owner why they don't accept credit, they'll say that they don't trust it.
I DISagree. I have $6 in cash sitting in my wallet right now, and it's been there untouched for over a month because I rarely use paper money anymore.
I live in Northern California, and everything is wired. I buy food and groceries using my ATM card. I pay my bills using EFT or checks. When my car needs gas, all of the pumps have built in readers. Even the local McDonalds, Wendy's, and Burger Kings have card readers at the counter. EVERY store I visit, from WalMart, to SaveMart(groceries), to the dingy little corner store run by the non-english speaking Punjabi down the street, has some type of card reader capable of processing electronic transactions. To be 100% honest, I can't even remember the last time I was in a store that didn't take plastic. In many areas, the cashless society is already here for those who choose to embrace it. For everyone else, it's just a matter of time.
To be 100% honest, I can't even remember the last time I was in a store that didn't take plastic.
In the Bay Area, I find that some of the smaller hole-in-the-wall resturants and several of the larger produce stores don't take plastic. The food at the resturants is good, and the ATM is nearby, so I keep going.
Some large places that don't take plastic: Zachary's Pizza in Oakland and Berkeley, Monterey Produce Market in Berkeley. Thousands of people go through each place every week, and the owner's attitude is "Plastic is a hassle, and 5% of purchases are fradulent, therefore I don't bother."
It's been proven that, on the average, people who use plastic will spend more money than those who use cash only. Obviously I'm talking about grocery shopping, mall shopping, and eating out, not paying your bills.
This might not apply to you, but there is a really good chance that you are spending about $50 more per week than you would spend if you only used cash for the above transactions. Needless to say, that is a large chunk of change gone each year.
Or, alternatively, when phone/telecommunications systems go down. Anyone who was in Manhattan on September 11th and the days immediately following will probably recall that many stores had either ceased accepting cards at all, or had set up special lines because only a few of their readers were working. This was due to the incredible call volumes that were jamming up the city's relatively limited numbers of long-distance circuits.
Fortunately, most of the ATMs were up and running (though a few had run out of cash, because so many people were using them where previously they'd just relied on their check/credit cards.)
I love my check card, but I'm pretty sure it won't be there for me on that occasion when I most desperately need it.
Oh, come on! The real reason they don't accept credit in Chinatown is that it would leave an indelible trail, and the marchants on Canal St. would be forced to declare their income and pay taxes on the sale of grey market and smuggled items.
And taxes, my friend are the reason why the government would love to have a non-anonymous (nymous? nymful? identible?) cashless society, and every small businessman in existence would hate it. As would lovers of privacy and freedom, but that goes without saying, I hope.
The ./ obsession with a cashless society? (Score:5, Insightful)
Money has been around for 3200 years [pbs.org]. Trade "I'll give you 2 sheep for one cow" has been around for thousands more.
I remember hearing these "cashless society" arguments in 1980. I look in my wallet 23 years later, and I still have a wad of cash in there, along with a credit card and ATM card. Sure, much of my purchasing is electronic, but it's far from cashless.
Now people are again saying "We'll be a cashless society in 25 years", and I still don't believe them. I've heard it before.
It reminds me of the "computers will solve all your paperwork problems. We will be a paperless society in 25 years." Cash is not going away anytime soon just because some money-geeks think they found an alternative.
As Ivanova from Babylon 5 said:
"Every time somebody says we're coming into a paperless society, I get 10 more forms to fill out."
Re:The ./ obsession with a cashless society? (Score:2, Interesting)
Re:The ./ obsession with a cashless society? (Score:3, Informative)
I live in Northern California, and everything is wired. I buy food and groceries using my ATM card. I pay my bills using EFT or checks. When my car needs gas, all of the pumps have built in readers. Even the local McDonalds, Wendy's, and Burger Kings have card readers at the counter. EVERY store I visit, from WalMart, to SaveMart(groceries), to the dingy little corner store run by the non-english speaking Punjabi down the street, has some type of card reader capable of processing electronic transactions. To be 100% honest, I can't even remember the last time I was in a store that didn't take plastic. In many areas, the cashless society is already here for those who choose to embrace it. For everyone else, it's just a matter of time.
Kinda sucks when the power goes out though
Re:The ./ obsession with a cashless society? (Score:5, Interesting)
In the Bay Area, I find that some of the smaller hole-in-the-wall resturants and several of the larger produce stores don't take plastic. The food at the resturants is good, and the ATM is nearby, so I keep going.
Some large places that don't take plastic: Zachary's Pizza in Oakland and Berkeley, Monterey Produce Market in Berkeley. Thousands of people go through each place every week, and the owner's attitude is "Plastic is a hassle, and 5% of purchases are fradulent, therefore I don't bother."
Re:The ./ obsession with a cashless society? (Score:1)
This might not apply to you, but there is a really good chance that you are spending about $50 more per week than you would spend if you only used cash for the above transactions. Needless to say, that is a large chunk of change gone each year.
Phone lines/Sept. 11th (Score:4, Interesting)
Or, alternatively, when phone/telecommunications systems go down. Anyone who was in Manhattan on September 11th and the days immediately following will probably recall that many stores had either ceased accepting cards at all, or had set up special lines because only a few of their readers were working. This was due to the incredible call volumes that were jamming up the city's relatively limited numbers of long-distance circuits.
Fortunately, most of the ATMs were up and running (though a few had run out of cash, because so many people were using them where previously they'd just relied on their check/credit cards.)
I love my check card, but I'm pretty sure it won't be there for me on that occasion when I most desperately need it.
Re:The ./ obsession with a cashless society? (Score:4, Insightful)
And taxes, my friend are the reason why the government would love to have a non-anonymous (nymous? nymful? identible?) cashless society, and every small businessman in existence would hate it. As would lovers of privacy and freedom, but that goes without saying, I hope.
Re:The ./ obsession with a cashless society? (Score:2)
If you ask a store owner why they don't accept credit, they'll say that they don't trust it.
Not only for that reason, but small business owners get reamed for service charges by credit card companies for credit purchases.
Dolemite