geordie582 Posted March 12, 2007 Report Share Posted March 12, 2007 Perhaps, if this comes off, you'll all have to join us in the Coin Forums?? http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770 Link to comment Share on other sites More sharing options...
AuldFartte Posted March 12, 2007 Report Share Posted March 12, 2007 Well, since the prediction comes from an individual with a vested interest in the outcome, I'd have to say it won't come to pass. Someone has come up with the same prediction (different time frames, though) about every two or three years since the advent of credit cards. Interesting read Link to comment Share on other sites More sharing options...
Art Posted March 12, 2007 Report Share Posted March 12, 2007 Well, since the prediction comes from an individual with a vested interest in the outcome, I'd have to say it won't come to pass. Someone has come up with the same prediction (different time frames, though) about every two or three years since the advent of credit cards. Interesting read I have to agree. I'm not sure how things stackup in the rest of the world but here in the US the underground economy is based solely on cash and has no intention of letting cash disappear. I'm counting everything from drug trade to the local flea market booth or garage sale thing. I once read an estimate that 20% of the US economy was cash unreported and that number discounted illegal drugs & cigarettes (a huge cash business). Link to comment Share on other sites More sharing options...
see323 Posted March 12, 2007 Report Share Posted March 12, 2007 I have to agree. I'm not sure how things stackup in the rest of the world but here in the US the underground economy is based solely on cash and has no intention of letting cash disappear. I'm counting everything from drug trade to the local flea market booth or garage sale thing. I once read an estimate that 20% of the US economy was cash unreported and that number discounted illegal drugs & cigarettes (a huge cash business). Singapore is fast becoming a cashless country. The "wave and pay" card, I believe it is quite similiar to our "tap and pay" card used in our MRT ( Mass Rapid Transit Train ). It is known as the EZ link card. It can also be used in bus transportation. Not sure how long ago, should be more than twenty years, we have the "Nets" card which we pay for everything from supermarket grocery, purchase TV and shopping at shopping centre. Logically, we do not need to use cash for any purchase. For many years, we have our cash card which was introduced. With the introduction of Electronic Road Pricing ( ERP ) in Singapore many years ago, the government introduce cash card for used in our car with a ERP reader. The same reader with the cash card is also use in our carpark system. Cash Card can also be used to pay at stores and also internet payment. It is just like a Nets card except that we have to top-up the value once it is gone. Nets card are direct link to your bank account. With so many cards including credit and debit cards, it is become a cashless society very soon. It is easier to implement any system in Singapore as it is relatively small. Some foreign company chose to implement their card system in Singapore as trial and get feedback for it's usage. Feedbacks will help them to modify their card system and procedure before introducing to the world. Link to comment Share on other sites More sharing options...
jtryka Posted March 12, 2007 Report Share Posted March 12, 2007 Perhaps, if this comes off, you'll all have to join us in the Coin Forums?? So, we go to a cashless society and somehow coins still survive? Link to comment Share on other sites More sharing options...
tabbs Posted March 12, 2007 Report Share Posted March 12, 2007 So, we go to a cashless society and somehow coins still survive? Sure. After all, somebody will have to buy all those collector coins that the mints make. Christian Link to comment Share on other sites More sharing options...
Art Posted March 13, 2007 Report Share Posted March 13, 2007 Sure. After all, somebody will have to buy all those collector coins that the mints make. Christian And the billions of dollar coins in the mint vaults. Link to comment Share on other sites More sharing options...
San_Miguel98 Posted March 14, 2007 Report Share Posted March 14, 2007 i can't speak for afghanistan, but the military sure tried hard to make iraq cashless. the eagle cashcard is heavily promoted, accepted everywhere, and is linked directly to our bank accounts so we can easily load/unload it with funds. but still, the lines for check-cashing are long, the e-cash reloading kiosks are used only occasionally, and we're already into the seventh generation of pog designs for loose change. i think that even though we have the means to go without it, cold hard cash will be around for a long while yet. Link to comment Share on other sites More sharing options...
geordie582 Posted March 14, 2007 Author Report Share Posted March 14, 2007 So, we go to a cashless society and somehow coins still survive? The mints will still churn out coins - but they will all be commemoratives! Link to comment Share on other sites More sharing options...
Johnny 1989 Posted March 14, 2007 Report Share Posted March 14, 2007 I think VISA wish that cash will dissapear in five years same goes for Maestro. Although I do use my Halifax Debit Card to buy things I still prefer cash, the problem with cards only is there's no limit on what you spend (in some cases) where as if you run out of cash that you currently have on you then you can't spedn anymore, you've spent your limit Link to comment Share on other sites More sharing options...
Scottishmoney Posted March 14, 2007 Report Share Posted March 14, 2007 I think VISA wish that cash will dissapear in five years same goes for Maestro. Although I do use my Halifax Debit Card to buy things I still prefer cash, the problem with cards only is there's no limit on what you spend (in some cases) where as if you run out of cash that you currently have on you then you can't spedn anymore, you've spent your limit Oh yes, there is a limit on what you can do with your Debit card, reach a certain threshold and they will shut you off, but before that they will stick it to you with fees. I have not had a debit or ATM card in 10 yrs, and still don't miss it. Link to comment Share on other sites More sharing options...
Johnny 1989 Posted March 14, 2007 Report Share Posted March 14, 2007 Oh yes, there is a limit on what you can do with your Debit card, reach a certain threshold and they will shut you off, but before that they will stick it to you with fees. I have not had a debit or ATM card in 10 yrs, and still don't miss it. Forgot to mention that little fact, on my debit card they will let you overdraw up to £1000. If you are on a very low income wage, which I was for a while, you have no chance of getting back into black. I never got a far as £1000 over drawn although I was close, I think the most was £780 odd Link to comment Share on other sites More sharing options...
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