Cashless transactions

[P@triot]

Lets just say you had that $10. How would Microsoft pay their employees if you had the only $10 in the economy?

Microsoft has bank accounts with billions in them. They would pay their employees like they do today, with checks and direct deposits.

The bank accounts are empty slick - you have the only $10 left in the economy in that scenario. Apparently you have no idea how even a basic checking account works. You need to move out of mommy's basement soon.

 

[Toddsterpatriot]

and flood it back in depending on what they want to achieve.

How does digital currency prevent them from "taking money out and flooding it back in"?

Because the U.S. can "see" it. Right now - do you have any idea how much U.S. currency is lost? Literally hundreds of billions. It's been thrown in "wishing wells" all over the world, been lost in couches, been inadvertently destroyed in fires, etc.

So what does the U.S. do? They constantly print more without any real idea of how much is in circulation and how much isn't. That causes massive fluctuations. Digital "currency" cannot be lost. It cannot be burned. It cannot be thrown into the water at Disney World.

God Almighty, I feel like I'm talking to a room full of 7 year olds. I cannot believe that none of you people are capable of grasping the mountain of serious issues related to paper currency.

Because the U.S. can "see" it.

How does "seeing it" stop them from screwing us? Walk thru the steps for me.

Right now - do you have any idea how much U.S. currency is lost? Literally hundreds of billions.

If people want to lose, burn, bury, eat their currency, why is that anyone's problem but their own?

They constantly print more without any real idea of how much is in circulation

They have a decent idea. Why do they need to know exactly? Why does it matter?

That causes massive fluctuations.

Prove it.

Digital "currency" cannot be lost.

Tell that to somebody that lost the password to their digital wallet.

I cannot believe that none of you people are capable of grasping the mountain of serious issues related to paper currency.
I know, people buying and selling without the government looking over our shoulder. Just awful!

 

[P@triot]

When they need new currency, they can order it from the Fed.

Bingo! So the anarchist who is feigning "grave concern" about the government having control over his life is celebrating the fact that government controls his entire life by printing money whenever they want to and creating inflation, devaluing the dollar, etc. Yeah - you sure are anti-big-government slick!

 

[Toddsterpatriot]

Digital currency alleviates all of that and more.

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

Seriously - the only thing "non-existent" is your ability to grasp economic issues. The government already controls currency slick. So it sounds to me like you are one of the many who engage in tax evasion and are terribly concerned about having to carry your share of the burden.

The government already controls currency slick.

I'm holding a $20. How does the government control it?

 

[depotoo]

Some require your info, unless in very small denominations.
I can't believe you, as a proclaimed patriot, don't value our constitutional right to privacy in anything legal we do.

Which still have recorded transactions which I am sure could be subpoenaed And jow do you purchase them without cash?

Who cares if the government sees you purchased a prepaid debit or credit card? Once you have that, they can't see what you bought with it. And digital currency already masks purchases.

 

[Toddsterpatriot]

Lets just say you had that $10. How would Microsoft pay their employees if you had the only $10 in the economy?

Microsoft has bank accounts with billions in them. They would pay their employees like they do today, with checks and direct deposits.

The bank accounts are empty slick - you have the only $10 left in the economy in that scenario. Apparently you have no idea how even a basic checking account works. You need to move out of mommy's basement soon.

The bank accounts are empty slick - you have the only $10 left in the economy in that scenario.

How does removing currency empty the bank accounts, twit?

Apparently you have no idea how even a basic checking account works.

Better than you. I know, that's a low bar.

 

[P@triot]

Right now - do you have any idea how much U.S. currency is lost? Literally hundreds of billions.

If people want to lose, burn, bury, eat their currency, why is that anyone's problem but their own?

Because it takes it out of circulation, slick. Are you really this dumb or is this just an act because you can't defend your indefensible position?

Burning money decreases the wealth of the owner without directly enriching any particular party. However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

Money burning - Wikipedia

 

[Toddsterpatriot]

When they need new currency, they can order it from the Fed.

Bingo! So the anarchist who is feigning "grave concern" about the government having control over his life is celebrating the fact that government controls his entire life by printing money whenever they want to and creating inflation, devaluing the dollar, etc. Yeah - you sure are anti-big-government slick!

Not an anarchist. Just a guy poking holes in your idiocy.

 

[Bonzi]

Uncreditworthy people need to live too

 

[P@triot]

How does removing currency empty the bank accounts, twit?

Holy shit...

(Psst...stupid....bank accounts hold currency. Not sandwiches. Currency)

 

[Toddsterpatriot]

Right now - do you have any idea how much U.S. currency is lost? Literally hundreds of billions.

If people want to lose, burn, bury, eat their currency, why is that anyone's problem but their own?

Because it takes it out of circulation, slick. Are you really this dumb or is this just an act because you can't defend your indefensible position?

Burning money decreases the wealth of the owner without directly enriching any particular party. However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

Money burning - Wikipedia

Because it takes it out of circulation, slick

So what? Take your money out of circulation. Store it in your mattress.
The economy doesn't care.

However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

Sounds like you're refuting your own claim. Thanks.

 

[P@triot]

Just a guy poking holes in your idiocy.

The only thing you've "poked holes in" is your credibility. You just illustrated to everyone that you have no idea how even a basic checking account works. Do you know how embarrassing that is for you?

 

[TNHarley]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

commie!

 

[Toddsterpatriot]

How does removing currency empty the bank accounts, twit?

Holy shit...

(Psst...stupid....bank accounts hold currency. Not sandwiches. Currency)

If you think your bank account holds a stack of $20s (that's currency, twit) you're dumber than you first appeared.

 

[P@triot]

So what? Take your money out of circulation. Store it in your mattress. The economy doesn't care.

The 12-year old "anarchist" doesn't understand economics. Shocking. You'll understand better once your parents aren't paying your bills.

 

[P@triot]

If you think your bank account holds a stack of $20s (that's currency, twit) you're dumber than you first appeared.

Each binary 1 and 0 in your bank account corresponds to actual, physical currency you dimwit.

 

[Toddsterpatriot]

Just a guy poking holes in your idiocy.

The only thing you've "poked holes in" is your credibility. You just illustrated to everyone that you have no idea how even a basic checking account works. Do you know how embarrassing that is for you?

You just illustrated to everyone that you have no idea how even a basic checking account works.

Nothing you've posted says anything about basic checking accounts, except that idiocy about holding currency.
Which post did I say something incorrect about checking accounts?
Put up or continue to broadcast your ignorance.

 

[P@triot]

However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

Sounds like you're refuting your own claim. Thanks.

Sounds like you can't read. Ask an adult for help.

 

[Toddsterpatriot]

If you think your bank account holds a stack of $20s (that's currency, twit) you're dumber than you first appeared.

Each binary 1 and 0 in your bank account corresponds to actual, physical currency you dimwit.

Thanks for admitting it doesn't hold currency. Because that was moronic, even for you.

 

[depotoo]

It's the proclaimed patriot that doesn't. No one else. Might want to research and study a little harder.

So what? Take your money out of circulation. Store it in your mattress. The economy doesn't care.

The 12-year old "anarchist" doesn't understand economics. Shocking. You'll understand better once your parents aren't paying your bills.