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The Cashless SocietyFollow

#27 Apr 02 2012 at 7:37 AM Rating: Excellent
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Put them on your new $1 and $5 coins.
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#28 Apr 02 2012 at 7:45 AM Rating: Good
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We did away with the one and two cent coins in the 80s when the Treasurer noticed that people wouldn't bother to pick up dropped 1 and two cent coins in the street..
#29 Apr 02 2012 at 9:08 AM Rating: Excellent
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Uglysasquatch wrote:
Put them on your new $1 and $5 coins.

We'd have to wedge him between Susan B. Anthony and Sacajawea on the $1. No one wants to see that.
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#30 Apr 02 2012 at 9:18 AM Rating: Excellent
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Historically inaccurate ****, go.
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#31 Apr 02 2012 at 9:27 AM Rating: Excellent
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lolgaxe wrote:
Historically inaccurate ****, go.


Grover Cleveland, seven midgets, and a bottle of Thousand Island dressing.
#32 Apr 02 2012 at 9:42 AM Rating: Excellent
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Eske Esquire wrote:
lolgaxe wrote:
Historically inaccurate ****, go.


Grover Cleveland, seven midgets, and a bottle of Thousand Island dressing.

I believe that's called a "Cleveland creamer."
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#33 Apr 02 2012 at 9:44 AM Rating: Good
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I thought that was the Snow White.
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#34 Apr 02 2012 at 9:45 AM Rating: Good
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Timelordwho wrote:
Eske Esquire wrote:
lolgaxe wrote:
Historically inaccurate ****, go.


Grover Cleveland, seven midgets, and a bottle of Thousand Island dressing.

I believe that's called a "Cleveland creamer."


Well met, old chap. Well met.

Edited, Apr 2nd 2012 11:45am by Eske
#35 Apr 02 2012 at 11:18 AM Rating: Excellent
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lolgaxe wrote:
I thought that was the Snow White.

That's with 7 short bald men and an unconscious woman.
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#36 Apr 02 2012 at 11:41 AM Rating: Good
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Jophiel wrote:
Uglysasquatch wrote:
Put them on your new $1 and $5 coins.

We'd have to wedge him between Susan B. Anthony and Sacajawea on the $1. No one wants to see that.

I thought Jefferson was down with the brown?
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#37 Apr 02 2012 at 12:33 PM Rating: Good
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I think this thread makes a good argument for a cashless society; noone will want to touch their 'founding fathers' after this.

Edited, Apr 2nd 2012 2:39pm by Timelordwho
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#38 Apr 02 2012 at 12:48 PM Rating: Good
Actually they've been making Presidential dollar coins recently too. I work at a dollar store, and I've had a few customers pay with them.

I really hate checks too though. I very rarely use them if I can get away with it. And, living in a retirement town like I do, most of our customers at work are old people, and a lot of the little old ladies like to pay with checks. On the plus side, we have this weird electronic check thing, where we stick the check in the verification machine, it voids the check and prints a slip for the customer to sign, and we hand the receipt and the voided check back to the customer. So I can at least suggest to the customer that they don't have to fill out the check if they don't want to, since we just void it and give it back to them. I still would much rather people use cash or plastic though. My mom isn't even that old, and she still insists on writing checks when she goes grocery shopping too. Well, I guess she is getting up there. She's almost 60. I just don't think of her as old because she doesn't look or act old most of the time, and she's my mom.

I think I will always need cash though, to try and limit my spending. At least until I get paid a salary that's decent anyways. With debit cards, I find it way too easy to just swipe it and not think anything of it, especially when I buy stuff at work. "Oh, it's just a dollar! I can afford this!" I ended up spending $35 over the course of March. That doesn't sound like a lot, but considering everything is a dollar or less, that's 35 things I bought. I spent way too much money on things that weren't necessary last month too. So what I'm planning on doing from now on is taking out $30 in cash every month, and only allowing myself to spend that on snacks for work and my weekly trip to taco bell. I think that should help a lot.
#39 Apr 02 2012 at 1:02 PM Rating: Excellent
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Here in Canada it is easier to use checks still for a lot of things - mostly because we live in a culture of getting ripped off by financial institutions. After a lot of figuring things out and checking out the fees we discovered it was both easier and cheaper to pay our rent with a check vs. electronic deposit - and the easiest way for my partner to transfer money into our joint account from her account (because they are different institutions) is also a check (costs the least and doesn't take much longer)

It's dumb but, financial institutions (like phone providers/internet providers) are too busy gouging us to make it easier to transition
#40 Apr 02 2012 at 1:05 PM Rating: Excellent
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The presidential dollar coin series was cancelled in Dec 2011. Folks here just don't want dollar coins no matter who is on them.

I prefer using cash/coins for small purchases just because tracking a pile of $2 receipts and reconciling against the checkbook is a pain in the ***.

Edited, Apr 2nd 2012 2:06pm by Jophiel
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#41 Apr 02 2012 at 1:12 PM Rating: Good
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Jophiel wrote:
The presidential dollar coin series was cancelled in Dec 2011. Folks here just don't want dollar coins no matter who is on them.
If they'd not make them look like and feel like quarters they might have better success. Coins don't have to be round.

If I have cash I just whittle it away. I basically use my debit card for everything, and then the purchase has to amount to something before I'll agree to it.

I had to break-up with one of my coffee shops because they'd not let me use my card for a purchase less then five dollars.






Edited, Apr 2nd 2012 9:13pm by Elinda
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#42 Apr 02 2012 at 1:25 PM Rating: Excellent
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Jophiel wrote:
The presidential dollar coin series was cancelled in Dec 2011. Folks here just don't want dollar coins no matter who is on them.


My wallet doesn't have a place to put coins. So if it's not in bill form it probably isn't going to be carried with me. It was pretty much that simple.
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#43 Apr 02 2012 at 1:36 PM Rating: Good
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Olorinus wrote:
It's dumb but, financial institutions (like phone providers/internet providers) are too busy gouging us to make it easier to transition
I don't know where to begin on that one.
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#44 Apr 02 2012 at 1:36 PM Rating: Excellent
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Elinda wrote:
Coins don't have to be round.

I'd guess it helps for vending machines.
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#45 Apr 02 2012 at 2:39 PM Rating: Good
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Uglysasquatch wrote:
Olorinus wrote:
It's dumb but, financial institutions (like phone providers/internet providers) are too busy gouging us to make it easier to transition
I don't know where to begin on that one.

x8.
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I believe the core components of this plan that have issues to be with it's A: Ease of use, and B: Costs of near total adoption. A depends heavily on transactional availability, which sounds pretty good out there, but not quite as accessible as currency; and B relies on the mint cost of currency vs. the transactional cost of digital banking. One issue in particular is the fact that availability of a secondary medium of exchange (Cash) keeps the cost of private market transaction solutions down. You'd need to have more heavily regulated markets on that front, or have the banking institution run as an arm of the state,( which has a host of issues associated with it). But such a system can probably be set up to cost less than the real mint costs associated with currency.
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#46 Apr 02 2012 at 2:49 PM Rating: Good
I have never seen anyone pay for anything in a shop by cheque.
#47 Apr 02 2012 at 4:22 PM Rating: Default
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speaking of cashless society, apparently a bunch of personal info was accessed over the weekend from a third party for Visa MasterCard.

WSJ]

Ive read from other sources anywhere from 50-100K could have been affected.
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#48 Apr 02 2012 at 6:02 PM Rating: Decent
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I don't need anyone's account number. I just email them their money and tell them the password..heck there's a hint box for the password so most times I don't even have to speak to the person.

Email address > Cheque > Random batch of numbers

That being said, I almost never use cash, but I would never condone abolishing it (or some form of it at least). Electricity isn't permanent and neither is the internet. I don't care how reliable they become they'll never come close enough to the reliability of a physical object to negate the risks involved. We had a 3 day power outage here a few years back. Try buying baby formula in a cashless society when the power is out.
#49 Apr 02 2012 at 8:30 PM Rating: Good
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Yodabunny wrote:
Try buying baby formula in a cashless society when the power is out.

Very good point.
#50 Apr 03 2012 at 3:23 PM Rating: Good
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Uglysasquatch wrote:
Olorinus wrote:
It's dumb but, financial institutions (like phone providers/internet providers) are too busy gouging us to make it easier to transition
I don't know where to begin on that one.


hmmm? you don't agree? Maybe our bank fees aren't ridiculous comparatively (though they seem that way) since I haven't really looked into it, but I know that we are getting gouged on mobile data and internet fees. It's just unbelievable. I mean, I am sure it is just an accident that all three companies that offer (for example) 3G for ipad have the exact same ridiculously overpriced "plan" (anything over 500 MB and up to 5GB is $35/month) but it sure seems like a racket some days.

Edited, Apr 3rd 2012 2:25pm by Olorinus
#51 Apr 03 2012 at 3:34 PM Rating: Excellent
$35 a month? That's it? lol, you should try looking into some of the plans in the US. The two different cell phone companies I've used that offer unlimited data plans charge $50 a month for each line. My boyfriend and I's cell phone plan, when we lived together, was almost $150 a month between us both having smart phones with unlimited data, and having an unlimited texting plan (which we had to have if we wanted to text, since the company we were with got rid of all the other texting plans). After we were both unemployed, even with my financial aid money, we couldn't afford it anymore so we had to downsize.
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