Should the uk go cashless? Watch

Rudav123
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This is for my EPQ and it would be intresting to see if people have any ideas or opinions on this topic.
Thanks
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HeroinAddict
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no, cash economy allows people to employ under the minimum wage individuals without reporting it to the gov. Cashless system would increase
unemployment
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ltsmith
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whats the alternative?

inb4 muhhh bitcoin

> 16k -> 3k in the span of 11 months. imagine what would happen to our economy if that was our main currency

LOL
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Blue_Cow
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(Original post by ltsmith)
whats the alternative?

inb4 muhhh bitcoin

> 16k -> 3k in the span of 3 months. imagine what would happen to our economy if that was our main currency

LOL
I don't think the OP (or anyone sane) is advocating for cryptocurrency... especially not BTC LOL
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Yr_11_MATHS
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(Original post by Rudav123)
This is for my EPQ and it would be intresting to see if people have any ideas or opinions on this topic.
Thanks
It just simply wouldn't work. Money is the incentive for producers to produce goods and for workers to keep their jobs. Without money, no one would care if the economy f**cked up, no one will work properly and would rather sit on their arses and do nothing
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HeroinAddict
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(Original post by Yr_11_MATHS)
It just simply wouldn't work. Money is the incentive for producers to produce goods and for workers to keep their jobs. Without money, no one would care if the economy f**cked up, no one will work properly and would rather sit on their arses and do nothing
I dont think OP is advocating for communism
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HeroinAddict
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(Original post by HeroinAddict)
I dont think OP is advocating for communism
I could be wrong tho. In that case, I offer free helicopter rides OP. Just for you! Corbyn is gonna be there too!

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Anonymoususer16
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Do you mean the removal of physical cash and 100% use of digital payments? Or the removal of currency as we know it?
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SMEGGGY
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No, never, absolutely not!
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MrMoment
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(Original post by Yr_11_MATHS)
It just simply wouldn't work. Money is the incentive for producers to produce goods and for workers to keep their jobs. Without money, no one would care if the economy f**cked up, no one will work properly and would rather sit on their arses and do nothing
I presume the question regards cashless with respect to removing coins and notes from circulation, not cashless asin abolishing all narrow money!

Some thoughts I’d like to add. Consider the privacy aspect of a cashless system where all transactions are recorded. On one hand, it could prevent black markets etc. but does it just take away an aspect of personal liberty? Could recorded transactions and movement of money give more control to banks and corporations in the way of data in what we spend - is this trusted?
Also, assuming cashless means we use banks , can we fully trust banks? Would a cashless system make banks more inclined to make risks as they know people won’t suddenly withdraw if they lose confidence? But equally, banking and financial services generate vast sums of revenues and thus a cashless society may ensue more profit from the money held in banks.

A lot of questions, but just some thoughts that I’d consider.

Good luck
Last edited by MrMoment; 1 month ago
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goggleyed
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No, there should always be several options

I still carry cash as a back up. it should never go cashless
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ukrj
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No, cashless is a terrible idea. Do you really trust the government with your money? They could tax it directly or even confiscate it. at least with cash you can keep it away from their grubby fingers.
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Rudav123
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(Original post by Anonymoususer16)
Do you mean the removal of physical cash and 100% use of digital payments? Or the removal of currency as we know it?
The use of physical cash being removed - it would be the same as now in this scenario just without physical cash
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Rudav123
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(Original post by Yr_11_MATHS)
It just simply wouldn't work. Money is the incentive for producers to produce goods and for workers to keep their jobs. Without money, no one would care if the economy f**cked up, no one will work properly and would rather sit on their arses and do nothing
Still money, just not physically?
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Rudav123
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(Original post by ukrj)
No, cashless is a terrible idea. Do you really trust the government with your money? They could tax it directly or even confiscate it. at least with cash you can keep it away from their grubby fingers.
Interesting point thank you
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Rudav123
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(Original post by MrMoment)
I presume the question regards cashless with respect to removing coins and notes from circulation, not cashless asin abolishing all narrow money!

Some thoughts I’d like to add. Consider the privacy aspect of a cashless system where all transactions are recorded. On one hand, it could prevent black markets etc. but does it just take away an aspect of personal liberty? Could recorded transactions and movement of money give more control to banks and corporations in the way of data in what we spend - is this trusted?
Also, assuming cashless means we use banks , can we fully trust banks? Would a cashless system make banks more inclined to make risks as they know people won’t suddenly withdraw if they lose confidence? But equally, banking and financial services generate vast sums of revenues and thus a cashless society may ensue more profit from the money held in banks.

A lot of questions, but just some thoughts that I’d consider.

Good luck
Thank you for your questions, these will be very useful to think about
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londonmyst
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No.
There should be several other options to choose from and to accommodate a range of payment preferences.
Relying solely on cashless has functionality, security, privacy and accessibility implications.
Hackers and cyber fraudsters would be delighted if a purely digital money system was introduced.
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Rudav123
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(Original post by goggleyed)
No, there should always be several options

I still carry cash as a back up. it should never go cashless
True options are important, but could there possibly be enough options for currency outside of cash?
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Rudav123
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(Original post by londonmyst)
No.
There should be several other options to choose from and to accommodate a range of payment preferences.
Relying solely on cashless has functionality, security, privacy and accessibility implications.
Hackers and cyber fraudsters would be delighted if a purely digital money system was introduced.
Cash also contains many high risk security issues and a lack of this privacy can negative surrounding crime ...
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goggleyed
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(Original post by Rudav123)
True options are important, but could there possibly be enough options for currency outside of cash?
nah bro, especially when cash has been king for too long

how are strippers gonna make their money? have men swipe their cards every time they feel aroused??
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