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Q: Chashless Society and China ?
They say that the world will soon become a cashless society in the very near future."2022"
Haha
These people obviously have never been to China.
Do you think it will happen in your lifetime?
7 years 41 weeks ago in Money & Banking - China
as governments get more powerful and companies track everything, people will get paranoid of cards for cash and stop using cards that can give out your bio and purchase patterns and lifestyle to government agencies desperate to catch tax cheats and any immoral behavior they can generate more revenue from.
i stopped using all my cards after Snowden, its just too dangerous to let some one stick a magnifying glass up your ass voluntarily, when a hacker knows you get a coffee every week at a certain place and can sell that to someone stalking you, it's basically over for a cashless society. the backlash will come as people see the results.
Shining_brow:
I'd like to agree... but unfortunately, that's not the way MOST people think! They want convenience, and are VERY willing to sacrifice those privacies etc to get that convenience.
You mention Snowden... but really happened after his revelations? Nothing! The people and organisations he outed still exist. The same things are going one. Nothing's changed, except they've beefed up on stopping whistleblowers.
The only one's who actually change are the ones everyone else calls a nutcase and tin-foil brigade... :(
Shining_brow:
I'm not sure of the significance of the link, and whether it's supposed to be a reply to my comment.
I don't disagree that it's getting bad - Big Brother is watching.... but people don't care! (not enough people care)
It'll need a generation or two to die off in China. The younger, educated, ones here flash their smartphones to pay with Zhifubao, weixin and occasionally Apple Pay all the time, especially for small amounts. The slightly older ones use plastic a lot more. Though I'm referring to cities.
not happening here in the "near future 2022" .
Even my wife, after 5 years with me here, and a card, and I do most everything online or with a card, she still uses cash for everything. Shit, she went to Thailand last year with cash!!!!!
The daughter, in Shenzhen, does use her card and taobao, jd, movie tickets.
Hotwater:
Exactly, a generational change. Going to take time to happen
as governments get more powerful and companies track everything, people will get paranoid of cards for cash and stop using cards that can give out your bio and purchase patterns and lifestyle to government agencies desperate to catch tax cheats and any immoral behavior they can generate more revenue from.
i stopped using all my cards after Snowden, its just too dangerous to let some one stick a magnifying glass up your ass voluntarily, when a hacker knows you get a coffee every week at a certain place and can sell that to someone stalking you, it's basically over for a cashless society. the backlash will come as people see the results.
Shining_brow:
I'd like to agree... but unfortunately, that's not the way MOST people think! They want convenience, and are VERY willing to sacrifice those privacies etc to get that convenience.
You mention Snowden... but really happened after his revelations? Nothing! The people and organisations he outed still exist. The same things are going one. Nothing's changed, except they've beefed up on stopping whistleblowers.
The only one's who actually change are the ones everyone else calls a nutcase and tin-foil brigade... :(
Shining_brow:
I'm not sure of the significance of the link, and whether it's supposed to be a reply to my comment.
I don't disagree that it's getting bad - Big Brother is watching.... but people don't care! (not enough people care)
I'm not a paranoid guy or super worried about tracking, but I do see a trend in many areas to sacrifice control for convenience.
If you have a physical $100 bill, nobody can take away your individual purchasing power that you have with that bill, nor is using it depending on a bunch of systems working perfectly. It's not just about not trusting the government but also not trusting the IT guys. So if the power is out how do buy things you need? Or if the network grid goes down for a while?
Think of it in other places...i mean yeah streaming video is awesome and convenient but if too many people are using it it doesn't work acceptably. Not that you can't scratch up a DVD but if you physically own it you don't depend on as many outside forces coming together to make it work.
ambivalentmace:
we had a case, the government network for the food stamp program on a debit card went down and thousands of people could not get food and ransacked several stores.
we had another case, the upper spending limit on the cards went down and people bought thousand of dollars of groceries on the debit cards and the government had to cut off the cards for months to get the money back.
imagine central bankers doing what cypress did to account holders with a keystroke, it would only happen once.
Scandinavian:
Why do you think the government cannot take away your cash just because it is in your pocket. What prevents them from saying "Tomorrow our gay pink 100RMB bills will be invalid and only newly issued purple bills will be acceptable as payment"
Shining_brow:
"What prevents them from saying "Tomorrow our gay pink 100RMB bills will be invalid and only newly issued purple bills will be acceptable as payment""
Riots.
expatlife26:
shining - also a very good point. The elimination of the purchasing power of a man with cash isn't practical in most cases
back to you, Scandinavian for rebuttal
Cash is a driver for China's parallel economy, without cash, many people would loose their livelihoods.
Just look at that fucker, Lin Zuluan, how would he be able to exploit society if it wasn't for cash. He has pried the hard earned cash from the hands of the good people at the party. II spit at him.
