That’s a good question and honestly I have never thought about it, but I guess if goods and services weren’t affected and we were still able to accumulate funds albeit electronically like in an account or on a card or chip then…it really would be no different than just using a debit card all the time.
I think I would prefer it if everything was digital. I can't tell you how many times I've been places and wanted to make a purchase but didn't have cash. There aren't many places that still accept cash only and those places that do are so inconvenient to me. Cash seems to get spent so much quicker too.
No, because if this was a government-led initiative, then the systems would be in place to accommodate it, so everyone would be digital at the same time.
I'm not sure about this. I like having physical money. I think maybe crime would go down though, because no one would be carrying cash.
Well, I think without cash peoples wallets would be a lot smaller. There wouldn't be a need to carry all that money around with them. We order everything online anyways, so the transition wouldn't be that difficult. If there's a homeless person on the street how would you help them without cash. I guess you can just buy them something to eat. If there wasn't any money in rap videos what would they throw in the air? Would they throw credit cards and bank statements?
Haha, credit cards and bank statements! Although there's a controversial video of one of Nelly's songs (i can't remember which one now as I don't really pay much attention to rap) in which he slides a credit card through a girl's butt cheeks... we might see more of that perhaps?
I wish they would take all the money away every time i have money in my hand i have the need to spend it but online i can keep it forever because i dont have anything physical need to spend or get something else out of it
I don't think I would have too hard of a time. I do most of my banking and bill paying online already because it is much easier. I do think it might make it a little harder to save for the kiddos though because it is such a nice way to teach your kids how to save with piggy banks and then taking them to the bank, etc. I guess we would find a way to teach them differently though. In essence so much is already virtual, so I don't know that the transition would be too difficult for many.
That is a good question. I am not sure. Though I will say that I usually do not carry money with me anyway. So I guess maybe I would like it. This way everyone would be digital and every place would have to accept it. Though I do think it would be weird.
I rarely carry cash, so it wouldn't be a problem for me. I'm sure we're heading toward that point one day. It would be cheaper for the government to stop minting paper and metal money.
I would have a big problem with this. There's a thing called inflation. Wouldn't our money be worthless if it was digital? Our money would be backed by thin air. If this ever happened the economy, debt, and personal income would be worthless and nothing.
Great question! I would have no problem with it, whatsoever. Practically all my dealings with money is digital already. It would definitely save one time, energy and the concern of 'losing' the physical notes. Yeah, I would be open to it for sure.
But would you have a problem with the US treasury having worthless money? I think the OP was referring all money as digital. But let me ask you, what would money be based off of if it was all digital? Who would set the interest rates, what would digital money be backed by?
If it's all digital, what if we had a huge economic crisis that left all of our savings 'trapped' in the bank? This is why some people like to store their money in different locations in case of an emergency. Personally, I wouldn't like this. Buying something in the street or at school wouldn't be easy unless every seller used the same payment method.
I think it will be that way someday. I think it will be a while though. It would be easier but also a way for the government to control more than they already do in my opinion.
I wouldn't mind. I hardly ever have cash on my anyway. I prefer digital money. (Is it still money though?). I'm not sure if it would be safer, probably not, nothing is safe, but it'd be more comfortable for sure.
Digital money? Hmmmn. That is fine with me. However, it will be very difficult for the people who is not aware of becoming DIGITAL. Not all people are going on the flow of technology..
Of course the older generation would resist this idea. I know my grandma still relies on mailing her phone bill, gas, and electric bill. Social security checks have been made digital with a card. I think this is what the Government is moving towards a moneyless society. It would cut out all the money that can't be traced, now everything will be on credit cards and debit cards. They will know exactly how much you made in a year, and how much you're spending. Taxes would be easier to do because they won't have to ask " Do you have any money that we should know about?"
No. I want both options, even though I don't always carry cash. I try to though. I've been shopping in places when their machines/connection went down and you couldn't pay electronically, yet they accepted cash. I was even in a small convenience store once when the power went out and they took cash for my purchases. Sure, the electric grid is up and running the vast majority of the time, but what do you do when it's not? Now, most large stores just won't take your money at all if their power goes down - that's happened to me before too - but I want the option for smaller places that will.
