Author Topic: Real Money  (Read 347 times)

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Offline Super Colin Blow

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Re: Real Money
« Reply #15 on: August 27, 2019, 08:49:10 pm »
Wow, that's a brain flipper.

Let's see.... Well ...

I dunno.  I'm saying paper money will die and he says it won't.  I think you're right: it's up to me to give the timeframe.  I will say it dies in the next 50 years.

But he said it will NEVER die... Effectively.  I think it's bullshit to say never

Well never say never. I wonder if debit cards will disappear. All they really are is proof you are who you are. In the future, maybe we will put our eyeball into some thing that IDs us by a retinal scan, thus authorizing the transaction.
In the Netherlands, banks charge merchants for using/depositing paper money. So if you try to use cash at point of sale there's a fee for the customer.

Still, we're looking at this through a very western-centric prism. There are countries where people don't carry around debit cards (or retinal scanners, lol) and are more "backwards" as far as their monetary transaction technology. It would screw them over to eliminate the greenback (or the Queenback, and other western currencies). In Japan, few people use debit or credit cards outside of the city; and checks are practically unheard of. (I read this in a recently-updated Japanese language textbook.)

I have to say though, it might be better for the blind and visually impaired to get rid of paper money and coins. Many countries either don't have different sized notes for the blind, or constantly change their size (again confounding the visually-impaired). Using my hypothetical retinal scanner, or a more advanced type of debit card, the price can be repeated by computer voice at point of sale. No scamming them any more ("Sorry ma'am, you gave me a five, not a fifty..." etc.)

The down side to eliminating real money is that transactions will no longer be private. Governments and banks can see exactly what you are doing all the time, which means handing over to them the power over our own private wealth. And of course, banks will find a way to work this to their advantage (profit).
« Last Edit: August 27, 2019, 09:01:12 pm by SuperColinBlow »
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Offline wilber

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Re: Real Money
« Reply #16 on: August 28, 2019, 03:28:23 pm »
Canadian banknotes can be read in braille. The little dots are pressed into the notes.
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Offline ?Impact

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Re: Real Money
« Reply #17 on: August 28, 2019, 04:40:01 pm »
Well never say never. I wonder if debit cards will disappear. All they really are is proof you are who you are.

Three factor authentication: something you have, something you know, and something you are (token, password, bio-metric).

When looking to build secure systems (and our current economic model demands a secure system), we should look at having three factor authentication. Most systems are weaker than that today, but our goal should not be to decrease security.

What should be mentioned in this thread is the protection credit cards give, at least in Canada, with respect to a maximum amount for fraudulent charges (if reported within a number of days of billing). Debit, cheque, inter-bank transfer, and others do not offer that level of protection.

Offline wilber

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Re: Real Money
« Reply #18 on: August 28, 2019, 06:54:19 pm »
Just going through some old money and found 95 Pounds in 20's 10's and 5's. Had them since 06. Went on line and found out they went out of circulation in 2010 and 2017 and I would have to exchange them  in person at the Bank of England. Maybe we should get rid of paper money, that's $155 CAD. Swines.
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Offline Omni

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Re: Real Money
« Reply #19 on: August 28, 2019, 08:43:13 pm »
I have a stack of Kwanza notes leftover from trips through Angola. They are crispy and are 100,000 notes. That's a lot of zero's. I seem to recall one would buy you a can of beer.

Offline Super Colin Blow

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Re: Real Money
« Reply #20 on: August 29, 2019, 02:25:54 am »
I've often wondered why the U.S. hasn't changed its money as often as other countries. That sux about your obsolete sterling, though. I'd be pissed.

You should try selling some of them on eBay. Sounds like your only option at this point.

I wonder if the people who celebrate Kwanza in the U.S. are aware it's actually a currency....
« Last Edit: August 29, 2019, 02:42:13 am by SuperColinBlow »
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Offline Michael Hardner

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Re: Real Money
« Reply #21 on: August 29, 2019, 05:34:03 am »
Canadian banknotes can be read in braille. The little dots are pressed into the notes.

You can HEAR online money.   8)

Offline Super Colin Blow

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Re: Real Money
« Reply #22 on: August 29, 2019, 05:40:21 pm »
You can HEAR online money.   8)

How's that exactly?
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Offline Michael Hardner

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Re: Real Money
« Reply #23 on: August 29, 2019, 06:58:50 pm »
How's that exactly?

Turn on your screen reader ?  Then open your bank account page.

Offline Super Colin Blow

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Re: Real Money
« Reply #24 on: August 30, 2019, 03:40:51 am »
Turn on your screen reader ?  Then open your bank account page.

OK fair enough. I guess you can't hear real money as you said; then again, if you do, you should see a psychiatrist.
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Offline Michael Hardner

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Re: Real Money
« Reply #25 on: August 30, 2019, 05:58:31 am »
OK fair enough. I guess you can't hear real money as you said; then again, if you do, you should see a psychiatrist.

WHAT ?  WHO SAID THAT ?  HELLO ?

Offline Super Colin Blow

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Re: Real Money
« Reply #26 on: August 30, 2019, 09:00:03 am »
WHAT ?  WHO SAID THAT ?  HELLO ?

Tell Alexander Hamilton to shut his mouth.  8)
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Offline Super Colin Blow

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Re: Real Money
« Reply #27 on: August 31, 2019, 03:46:29 pm »
I have a stack of Kwanza notes leftover from trips through Angola. They are crispy and are 100,000 notes. That's a lot of zero's. I seem to recall one would buy you a can of beer.

I didn't realize their inflation problem was that serious. I have a note from post-Communist Yugoslavia/Serbia that is 500,000,000,000 dinara. Zimbabwe notes are very collectible for their immense face values. Iran is now devaluing or whatever the riyal (dividing it by 1,000 to keep from having to deal with immense numbers).

I wonder if nixing real money would increase inflation? Or maybe not, like I said it's only 2% of the money supply.

No more ATMs, bank tellers, etc. There'd still be banks of course, they just wouldn't run the same way.

I wonder if it would lead to a world currency?
« Last Edit: August 31, 2019, 03:59:10 pm by SuperColinBlow »
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Offline Super Colin Blow

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Re: Real Money
« Reply #28 on: September 11, 2019, 12:55:23 pm »
Canadian banknotes can be read in braille. The little dots are pressed into the notes.

Wish I had those Canadian $1,000 bills. I think they've been demonitised, but have a high collector's value.
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Offline ?Impact

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Re: Real Money
« Reply #29 on: September 11, 2019, 01:02:35 pm »
Wish I had those Canadian $1,000 bills. I think they've been demonitised, but have a high collector's value.

Yes, they were concerned about money laundering and dropped them about 15-20 years ago. I really want a $25 or $500 bill though.