Technology Credit vs. Cash

Discussion in 'Technology' started by mscbkc070904, Mar 22, 2005.

  1. mscbkc070904

    mscbkc070904 Premium Member

    I was thinking about how we have come into the age of technology where ATM/Debit, Credit Cards are now or more less our cash.

    I think eventually, cash will cease to exist over the next couple of decades, worldwide. It has some advantages now, but there are also disadvantages as well, if cash money ceases to exist.

    Advantages: Dont have to be worried about being robbed, goes as well as for banks, everything gets sent straight to your card like direct deposit, everything can be paid with it or automatic withdrawal (some of this exist in more advanced countries).

    Disadvantages: ID theft (hopefully by that time it will be more secure), loss of jobs in making money, transferring money (Security Cars), bank closures, etc.

    What is your take on this? Do you think it will be better? or will it be worse? Which would you rather have?
  2. alternateheaven

    alternateheaven New Member

    I think first off there is a distinction between Credit and Debit; confusing the two is very dangrous. Debit cards are pretty useful, I've found myself using it more frequently than my check book unless I'm paying bills.

    The risk I think is that its so easy to take advantage of lax or non-existant seucrity policies regarding debit transactions. Nobody asks to see ID, and depending on the store you dont have to enter a pin number, just sign a copy of the reciept. Having one single card isint any better than a wallet of cash, because both can be taken, except that with cash the theif just grabs it and runs, with a card they will most likely force you to give up your pin number, possibly with violence if you resist.

    It would be nice if this would mean less crime and hassle, but it just means a different set of problems.
  3. Young William

    Young William Premium Member

    Great Post!
    This is a touchy topic especially because identity and individual accomplishment are being in a sense standardized......... For many reasons, I believe, but most importantly, for tracking..... The phrase cold cash has been around for a while, but nothing beats the old reward and punishment system. Isn't that the primary reason behind why we work?
    A more tolerant outlook suggests that in standardization and "stteamlining" our self-worth is in fact protected by anonymity?
  4. sweetpea

    sweetpea New Member

    Over the past five years I have committed myself to getting debt free. It's been very hard, but I'm down to car payment and house payment. All student loans paid, all credit cards paid. And every time I get one paid off - it sure is a liberating feeling! I recommend debt free to anybody - no debt, no oppression. HA! THEY DON'T OWN ME!
  5. Icewolf

    Icewolf Premium Member

    I think to avoid crime we need a new form of this idea, perhaps finger printing at ATM machines?

    *slightly off topic* I know that the UK has plans of using your iris to identify you at airports.

    But yeah, i'm only 15 and I use a debit card all the time.

    - ice -
  6. Zsandmann

    Zsandmann Premium Member

    I only use Debit, I NEVER have cash on me anymore. I feel safer and its easier to dissuade myself from buying things I dont really need. I feel cash is unsanitary and unneeded in our mordern society.

  7. 71LSPC

    71LSPC New Member

    I would use credit (if I had any), considering that our current form of cash is in the Federal Reserve Note, which by the way is illegal and unconstitutional (another topic).

    Credit is easier to use, but it will get you into trouble alot faster.
  8. marg6043

    marg6043 Premium Member

    New bankruptcy laws are making credit cards more hazardous to you than cash.

    When you are young credit cards are attractive and can be abused. When you get older you know by then how credit affect you.

    So it gets to the point that, debit cards and share check cards, are better option than credit cards.

    If you don't have the money is better to wait until you have it.
  9. pieman

    pieman Premium Member

    never credit,if you can't afford to pay cash you can't afford to pay credit card interest.

    debit cards? plastic cheques, harder to forge, same as cash i reakon.
    technology replacing money entirly, i doubt it, government's borrow against the strength of their currency, they need to keep a certain level of paper in circulation...................i think...............maybe not, ahh heck it's friday,i'm gonna go enjoy the weekend.
  10. bodebliss

    bodebliss The Zoc-La of Kromm-B Premium Member

    The government would love to go to a cashless society so they can trace every dollar spent not have to worry about counterfeiters and round up drug dealers, gun runners, and smugglers of all types. Crime needs not only the criminals and objects of criminal intent, but also large bundles of untrackable cash.
  11. pieman

    pieman Premium Member

    and customers, mussent forget the customers.
    the fight against crime only exhists because of customers on both sides.
  12. loner

    loner New Member

    I don't have that great a credit and I'm also getting myself out of debt. Just paid the car off which was the biggest debt, now I"m working on my credit cards. I don't have a debit card mostly because my account got so screwed up the bank actually confiscated it, told me to reapply in a year. It's my own fault I know.....For easy access shopping though I have gone and purchased a pre-paid credit card which I get updated on paydays with whatever I want on it. I only really use it for grocery shopping etc. to get out of there fast instead of holding the line up to write a check.

    Not to sure if prepay is any better way to go or not.