Cashless economy?

I think that's because European believe that everyone who makes money should pay taxes, in particular those highest on the income scale? European don't care if the money comes from drugs or prostitution or corporate; they care that everyone is taxed appropriately.

 

I like crypto, and owned some since early 2017. But I like the concept, the privacy, the lightweight, the speed... and the opportunity to make some money.

But I do wonder how can they ever replace ordinary fiat with the volatility we have seen since they were all created.


I don't think bank should ever be allowed not to print and mint anymore.

Also cashless is very discriminatory.

How can a person with a bad credit score get by?

In London some shops are cashless already... Then they like to show off how ethical and green they are, but they will refuse a bottle of water sale to a paying homeless or a "no credit worthy" person.

https://www.ft.com/partnercontent/comarch/covid-19-the-viral-spread-of-cashless-society.html


I own a shop and will never go cashless, although I take any sort of payment, even crypto if a customer wants to pay with it.

I will happily close it down when society will force me into cashless.

 

European will never be united on the way of thinking. Different cultures and custom, that go a long way back.

Tax cheating is a common practice in Europe.
Most Italian restaurants wouldn't even exist without tax evasion, as the Italian government takes more than 60% (I think it's actually 67%) when you add all taxes and fees. So, most of them have "dark cash" flow.

Some europeans have been hiding cash in Switzerland and setting up companies in Luxembourg and UK to hide cash and pay less % for years.

Then it's probably different in Scandinavia. Each country has its own reality, corruption and ethic.

 

bingo. Privacy is extremely important to me...but not so much for others. I dislike big government...others like it. I do not trust the government to always have my best intentions at heart...others do, I guess. Very difficult to find common ground with opponents on these issues.

I see MMT as a path for the government to go cashless. Pretty interesting topic if anyone hasn't looked into it. Basically government will have absolute control over currency...issue/create as much currency as they wish...and control inflation via taxes.

 

Does everybody have a bank account in Europe? Are there street beggars in Europe?

 

%%
Exactly, some governments easy turn in to control freaks\crazy control freaks. ''Please dont charge your CA ev, now even though that may ruin your life'' And if it ruins your life at least you did not use so much hated fossil fuel
And another advantage thing about cash, checks, coins; not dependent on power grid, computers.......................................................................................
Its very very dangerous to freedom. And ANY card malfunctions more than cash;
or checks.

 

Sorry Vic, but this gave me a chuckle. What is money laundering from a non-criminal activity? So you take a legal activity and turn the money made from it illegal by laundering?

 

I prefer backing by a government that has at least existed for some time than having my life savings backed by hot air and speculators. Call me when all the glitches are worked out and hacks don't occur anymore.

And I don't buy your privacy argument for one second. If the government started to lock down people's savings then that's the moment of revolution and the end of society as we speak. It's almost like trying to sell you a post nuclear war bunker. If nuclear war ever occurred then you have other things to worry about than crawling into a bunker to survive for an extra 3 months. Both events are end of the world events, a despotic US government and a nuclear war. We can discuss the utility of cryptos in some banana republics but the argument is moot for anyone in a western or Asian developed civilization.

 

By using as much energy as the entire country of Australia?