Prostitutes don't usually accept credit cards, so cash isn't going to disappear any time soon.

I've always wondered how strippers get tips in Europe, because the 1 euro is coin and not paper money, and I don't see people throwing around a 5.  Anyone from EU want to enlighten me?

On topic:  I mainly use my debit card but I don't see cash going anywhere.  I like cash because I never worry I'm going to over draw my account.

http://en.wikipedia.org/wiki/Jerry_Springer

Springer was elected to the Cincinnati city council in 1971.[10] He resigned in 1974 after admitting to hiring a prostitute.[10] The episode was uncovered when a police raid on a Fort Wright, Kentucky "massage parlor" unearthed a check Springer had written for its "services". Springer came clean at a press conference. Long-time Cincinnati newsman Al Schottelkotte pronounced Springer's career over, but Springer's honesty helped him win back his seat in 1975 by a landslide. In a post-election interview, Schottelkotte good-naturedly reminded Springer that he had declared Springer's career over. Springer told the newsman, "I'm glad that you were wrong." In 1977, he was chosen to serve one year as mayor by the City Council.

And this is what happens when you don't use cash to pay prostitutes. I think the utility of cash has just been proven.

Good! I can't wait until the day my wife stops bugging me about not having any cash in my wallet to give her, or the kids.

Personally I use my credit card when I finally pay it off I will return to debit and saving cash.

I think a cahless society is a bad idea. With what we know could happen like an EMP blast or a virus crashes a banks main frame. To much could happen to your money. When I wasn't in debt I used to save cash in my room because physical money isn't going anywhere your bank isn't going to have an error and it disapears.

Also in Canada it is a very bad idea. I've traveled north a ways and honestly when you get out of the major towns (10K or higher) and get to the smaller 300 people towns they don't have debit or credit as often and I haven't ventured nearly half way up my province. I remember going to a small town (7K) or so people. I went to the movie theater to see a movie and they wouldn't take my cards they said they didn't have them. I then tried the local grocery store and they wouldn't take them either. Gas station nope, I was told I had to go to the local bank and take my money out through them. Another smaller town my bus stopped in didn't even have a bank so I was screwed and couldn't do anything.

In the end if you live in a city with all the technology yah cashless society sounds great. But in a country where a ton of the citizens live in areas without high speed internet connections and banking abilities its just foolish.

Then again I also don't like trusting banks. You put your money in and they really don't have your money. They invest it and spend it then when you withdraw they take some of the money out and give it to you. But look at Europe right now the banks are running dry. All the people can't use there money at once the bank will go down and nobody will have anything.

Say there was a natural disaster. Everyone rushes to the bank to withdraw their money or use their cards. Well the bank doesn't have the money to pay for everything. Suddenly your money is gone, if the bank goes under its all gone every dime you have. Not to mention the fees my bank currently charges 12$ a month for unlimited debit card use, luckily I got a credit card and they don't charge shit.

Thats another reason I use my credit card. I'm not being charged 12$ a month. In fact I don't even get charged for use at all I get charged interest. Which my interest has never been higher then 25$ a month. But my debit bill came to 40$ once they had all these things they were dinging me for, I cut almost every feature from my card and was told 12$ was the minimum I could pay.

Seriously its cheaper to borrow the money on a credit card then to use your own cash on your debit card. Thats sad. Not to mention it does make keeping track of my money a lot more difficult considering I have a 5,500$ limit and only make 500$ spending money!

Not everyone has a phone :/
This is never going to happen.

Another reason not to go entirely cashless is theft.

Yes by carrying a card around that thug who holds you up at gun point or knife point won't get a dime.

But you accidently swipe your card or device through a bugged machine and whamo your account is open for business. I know of this guy in Vancouver who went around and he would swipe his card and with the teller watching plant a device on the machine. That device recorded all of the card info that was used through that machine. By the time the chips were found and the Police located them across the city tens to hundreds of thousands had been stolen. Then here in my city every few months the police issue a warning that debit machines and card readers in stores have been breached and that our money might be gone.

A documentary recently showed this guy he downloaded free software off the internet. The software allowed him to take over a hot spot. Every device that went through that hot spot was automatically breached. In one hour he had over two hundred peoples phones completely hacked he could read their email's check their txt's and see any information they had on their phone , he said he could even access people's accounts if he wanted to.

Then only weeks ago on Cops a guy got pulled over and the police thought he was a drug dealer. he had a binder and when they looked inside they found the whole thing was full of people's credit card info. Inside the card they found dozens of fake cards which he was using.

In the end at least with physical money you can try to protect it. With a completely digital system you can be robbed blind without even knowing anythings happened!

manuel brings up a very good point, person to person transfers would be difficult. The only solution would be government issued or free of charge devices, and than there would be charging issues etc. There would also be the issue of big brother tracing your movements with such a device.

I have to think that there will be some form of material currency for the forseeable future, though its use will decline as other methods are made easier.

Get rid of the penny!

Also it make house Reno's more expensive and you would not be able to extra income for doing work on the side.


Well as you may notice, you can do all these things without cash but people would have to pay taxes and who wants to do that.