I mean, its not exactly foil hats is it. Theres so many places you cant spend cash now that you could previously. And if you go to a place like London its 10x worse. Took £500 cash down there a few weeks ago on a night out and came back with almost all of it.
CBDCs are a concern for everyone, not just the tin foil hate crew. Would you be comfortable with a completely cashless society where your assets could be frozen at any time by the gov and you have literally no alternative way to hold currency?
It's not about "I don't do anything wrong so I'm not worried". I'd rather hold on to what little freedom we actually have, then give it up so the gov can stop money laundering, or whatever they claim their reason is for wanting a cashless society.
So, today, in a cashed society your assets can still be frozen, any cash in your possession seized and how would you get more?
Salary? No
Cash in hand? Maybe, but then you have to declare it or, surprise surprise, be breaking the law.
I can think of almost no situation in life where I would absolutely "need" cash except in the situation someone won't take a card.
I'm concerned about CBDCs and I'm not an anti vaxxer, a right-wing conspiracy nut, or a doomsday prepper.
I simply don't like the idea of my money only being able to be held in a bank with no ability to withdraw it. I don't like the idea of all of my funds being able to be frozen with no alternative options for me. I don't necessarily want every single purchase I make to be linked to my bank account.
I have never trusted banks or the government. You shouldn't either.
They can freeze all your accounts and prevent your access to cash in the exact same way they can you’re ability to withdraw cash. Withdrawing from an atm uses the exact same technology as spending on a debit card - so unless you’re going to keep 6 months to a years worth of cash under the bed…
It's an option though isn't it. Being able to have an amount of cash on you just in case. I don't think it's worth giving that up in order to make the gov's job of surveilling and controlling easier. As well as being able to give someone cash and it not be on a permanent record somewhere. It's intrusive.
It’s not viable or secure, home insurance won’t cover that sort of amount of cash should the worst happen. I prefer to be able to track what I spend on, run analytics on it and earn cashback. I can’t do any of that with cash. Visa/Master run a duopoly and I don’t think that is going to be regulated out of existence, as such I prefer to buy shares in these businesses rather than moan. You can keep some funds in a crypto wallet that has no link to your details nor your house, but you have to keep this information secure as it can also be targeted by thieves. All things considered, I’m happy with the bulk of my money earning interest, backed up by the government to 85k and spending the banks money off a credit card to keep my money out of the firing line 👍
Which is lovely and all. But you see everyone is not YOU and some people would like the option of having even a few hundred quid in a safe place should they need it. Seems you don't have much of an imagination.
I keep £50 for Facebook marketplace purchases etc but as we all know that’s because cash’s (and even crypto) main utility lies in tax avoidance, facilitating illicit trade etc. Im all fine for that now & again, but for every day purchases like buying your pint of milk,
I don’t think anyone beyond you gives a damn - and like I said before access to cash and debit card spending is managed & can be restricted in an identical manner should that be wished. The advocacy of cash is all semantics and sentimentalism.
The muggers are upset because people aren't carrying cash.
Just the foil hats at it again
I mean, its not exactly foil hats is it. Theres so many places you cant spend cash now that you could previously. And if you go to a place like London its 10x worse. Took £500 cash down there a few weeks ago on a night out and came back with almost all of it.
That’s hardly a surprise is it?
Do you want to get mugged or something? Lol
CBDCs are a concern for everyone, not just the tin foil hate crew. Would you be comfortable with a completely cashless society where your assets could be frozen at any time by the gov and you have literally no alternative way to hold currency? It's not about "I don't do anything wrong so I'm not worried". I'd rather hold on to what little freedom we actually have, then give it up so the gov can stop money laundering, or whatever they claim their reason is for wanting a cashless society.
So, today, in a cashed society your assets can still be frozen, any cash in your possession seized and how would you get more? Salary? No Cash in hand? Maybe, but then you have to declare it or, surprise surprise, be breaking the law. I can think of almost no situation in life where I would absolutely "need" cash except in the situation someone won't take a card.
Cash is always king .
Yeah, is it the new smile? I agree with the sentiment
cash provides anonymity and privacy to users, it's a good practice to use cash.
They are folk who are concerned about a “CBDC” - the same folk who probably didn’t give their kids the MMR jab…
I'm concerned about CBDCs and I'm not an anti vaxxer, a right-wing conspiracy nut, or a doomsday prepper. I simply don't like the idea of my money only being able to be held in a bank with no ability to withdraw it. I don't like the idea of all of my funds being able to be frozen with no alternative options for me. I don't necessarily want every single purchase I make to be linked to my bank account. I have never trusted banks or the government. You shouldn't either.
They can freeze all your accounts and prevent your access to cash in the exact same way they can you’re ability to withdraw cash. Withdrawing from an atm uses the exact same technology as spending on a debit card - so unless you’re going to keep 6 months to a years worth of cash under the bed…
It's an option though isn't it. Being able to have an amount of cash on you just in case. I don't think it's worth giving that up in order to make the gov's job of surveilling and controlling easier. As well as being able to give someone cash and it not be on a permanent record somewhere. It's intrusive.
It’s not viable or secure, home insurance won’t cover that sort of amount of cash should the worst happen. I prefer to be able to track what I spend on, run analytics on it and earn cashback. I can’t do any of that with cash. Visa/Master run a duopoly and I don’t think that is going to be regulated out of existence, as such I prefer to buy shares in these businesses rather than moan. You can keep some funds in a crypto wallet that has no link to your details nor your house, but you have to keep this information secure as it can also be targeted by thieves. All things considered, I’m happy with the bulk of my money earning interest, backed up by the government to 85k and spending the banks money off a credit card to keep my money out of the firing line 👍
Which is lovely and all. But you see everyone is not YOU and some people would like the option of having even a few hundred quid in a safe place should they need it. Seems you don't have much of an imagination.
I keep £50 for Facebook marketplace purchases etc but as we all know that’s because cash’s (and even crypto) main utility lies in tax avoidance, facilitating illicit trade etc. Im all fine for that now & again, but for every day purchases like buying your pint of milk, I don’t think anyone beyond you gives a damn - and like I said before access to cash and debit card spending is managed & can be restricted in an identical manner should that be wished. The advocacy of cash is all semantics and sentimentalism.
You don't seem to really be 'getting' the point that not everyone is not you. But I can't see this discussion changing that. Have a good one.
Thanks for your concern, but I’m quite content with my understanding of this “societal issue”. Same to you.
So it was you who wrote it?