in what year will all money cease to exist
By shelagh77
@shelagh77 (3643)
February 3, 2007 6:56pm CST
Coin and paper money are becoming increasingly unpopular with banks, and indeed with criminals (it is easier to hack!). How many more years do you think currency as we know it has in existence.
Will the total electronic currency take over happen in our life times?
2 people like this
7 responses
@HoPPeRtheSTaLkER (20)
• Canada
6 Feb 07
I don't think it will be that soon as others in this discussion seem to be thinking.
For the reason being that, if you ever remember that line in movies when someone is trying to buy something and offers a big amount of money...CASH! Then, they stop and think about what's at stake here with THIS offer, being not only money, but money in your hands! It shows that cash still hold's value in society
2 people like this
@shelagh77 (3643)
•
3 Jul 07
Yes, I hope that cash will always be an option as it is so much more personal than the paperless bank account, isn't it? I am still buying gold jewellery too in the hopes that gold will always be a sound investment.
@marlyse (1056)
• Switzerland
4 Feb 07
here it seems the ebanking and credit cards are more in use than paper or coins. when you have to pay and there is someone with lots of coins, you hear a big rumour and nasty comments. so maybe once we dont have the money in our hands anymore :-(
@shelagh77 (3643)
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6 Feb 07
You have a point there, I must admit although I love paying in money I do hat to have to wait for a long time behind someone else paying in money! I still love the feel of nice shiny coins though.
1 person likes this
@shelagh77 (3643)
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4 Feb 07
How right you are rainbow. I hope everyone who reads this thinks very deeply about it. The way the government in the UK is progressing this could very well be a reality. There is already talk of dna and fingerprinting every baby born. It is a very short step to the microchip.
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@mansha (6298)
• India
5 Feb 07
I will give it another ten years. Better keep some paper money in your piggy banks, then we can dsell it on e-bay. wow that will be wonderful. My grandkids will admire all shiney coins and crisps notes as antique rare coins an money ,lol.
@shelagh77 (3643)
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6 Feb 07
Sadly, you may be right. I don't think countries such as the USA and UK will use money as such because it will be so much easier for total control by government agencies if every single exchange has to be made through a financial institution.
I wonder if our grandchildren will have the same relish for old coins that we have, as coins will not have the added value of having been spendable, as they were for us.
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@shelagh77 (3643)
•
6 Feb 07
I would hope so hopper, but will coins have any meaning to our grandchildren if they have never spent coins themselves, I wonder?
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@HoPPeRtheSTaLkER (20)
• Canada
6 Feb 07
That's a funny thought: the current young generation's kids and/or grand kids will admire all of the coins that we deem to be normal as if they hold some really high value. Much more than it's really worth! lol
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@Lakota12 (42600)
• United States
4 Feb 07
hmmmmmmmmm and how do we hold that in our hand and spend it.
but sometimes I feel like money isnot real now I get an amount out into my bank account i call several places and pay bill by echeck we slide our cards at the grocery .
I think that is pretty well electronic dont you?
2 people like this
@shelagh77 (3643)
•
4 Feb 07
Yes, it is becoming more and more unusual to use cash, isn't it? I can see that cash will eventually fall out of use in many of the so called modern countries. It would be a shame and a further erosion of the diversities of cultures, but I think it will happen because it will make like easier for the big banks and also mean even bigger profits for them.
1 person likes this
@shelagh77 (3643)
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4 Feb 07
I only caved in and banked on line a short time ago. I have a degenerative illness and I was passing out in queues waiting to pay bills so I had to give in.
I actually prefer coins to notes and I like the feel of them, the designs, and especially like shiny coins. I would not like to see them go but I can see the attractions to the greedy banks. One card, instant coinage exchange calculation and less wages for them to pay. Yes, greedy banks would love it.
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@shelagh77 (3643)
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6 Feb 07
I don't think it will happen that soon, but there is a general move towards this as the big financial institutions like to make more and more money and handling cash is just too much trouble for them, unfortunately.
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@Geminigirl (1909)
• United States
4 Feb 07
I dont think so. I think paper money will be around for a long time.
1 person likes this
@shelagh77 (3643)
•
4 Feb 07
I used to think so too, but in the UK it is being made much harder to pay in coin. There is a longer queue to pay in cash at petrol (gas) stations but if you pay be credit card you can just key in and go. There are similar services at grocery store check outs too. Also some banks are refusing to accept coin unless a charge is paid.
If this type of inconvenience were to continue I think more people would pay by card and less and less bother with coins and paper money.
