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Any thoughts on "digital transactions only" in the years ahead?

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CalG

Diamond
Joined
Dec 30, 2008
Location
Vt USA
How might having an "all seeing" third party in every transaction effect your business?

To me, "large businesses" would not object.
"small business" might find issues.

It appears there are those who are strongly pushing for a "cashless society". I doubt everyone is in camp with them. "The rich get richer " , "fingers in the pie", and all that.

Some suggestions are being thrown about that True Dough's recent withdrawal of the Emergencies act in Canada is due to "progressive Banking" pressures. A bad show of how easily citizens can be shut out for going against the authority.

Troubling and perplexing.
 
Joined
Apr 14, 2018
Location
Airstrip One, Oceania
How might having an "all seeing" third party in every transaction effect your business?

To me, "large businesses" would not object.
"small business" might find issues.
In real life it's exactly the opposite (altho China is not rigged to benefit the kleptocrats.) The street vendors and sidewalk food stands and convenience stores and so on tend to be the biggest users of mini-payments via phone.

I personally won't do it but as for the rest of the one billion customers, seems to be wildly popular.
 

mrSanders62

Cast Iron
Joined
Jan 8, 2022
In real life it's exactly the opposite (altho China is not rigged to benefit the kleptocrats.) The street vendors and sidewalk food stands and convenience stores and so on tend to be the biggest users of mini-payments via phone.

I personally won't do it but as for the rest of the one billion customers, seems to be wildly popular.

And the chinese also have a social rating and if you behave inappropriately, they'll reset your score. Cashless is a total control. but the control will not affect a select few
 
Joined
Apr 14, 2018
Location
Airstrip One, Oceania
And the chinese also have a social rating and if you behave inappropriately, they'll reset your score. Cashless is a total control. but the control will not affect a select few
Where do you people get this crap ? I've slept with more chinese people (all girls) than you have known in your entire life. This is a crock of shit. Boy am I sick of this garbage.
 

mrSanders62

Cast Iron
Joined
Jan 8, 2022
Where do you people get this crap ? I've slept with more chinese people (all girls) than you have known in your entire life. This is a crock of shit. Boy am I sick of this garbage.

is tested in individual provinces. and no chinese will tell the truth. When did you sleep with Chinese women? 40 years ago? Control has come a long way since then
 

atomarc

Diamond
Joined
Mar 16, 2009
Location
Eureka, CA
Where do you people get this crap ? I've slept with more chinese people (all girls) than you have known in your entire life. This is a crock of shit. Boy am I sick of this garbage.

I've always wondered...is it true their "thangs" go left and right as opposed to up and down!:)


Creeper Stu
 
Joined
Apr 14, 2018
Location
Airstrip One, Oceania
is tested in individual provinces. and no chinese will tell the truth. When did you sleep with Chinese women? 40 years ago? Control has come a long way since then
Horseshit, you don't have a clue. And it's now been one year and one day. But just got the renewal papers to file so maybe can get back to it soon. Covid covid go away, come again some other day ... like in ten years or something.

You haven't got the slightest idea of what China or Chinese people or the Chinese governments are like, so let me politely suggest you go jump on a brick. Shitforbrains loudmouth, just like the rest.

No, stu, alas, same as occidental women ... ("Occidental hell, they do it on purpose !")
 

mrSanders62

Cast Iron
Joined
Jan 8, 2022
Horseshit, you don't have a clue. And it's now been one year and one day. But just got the renewal papers to file so maybe can get back to it soon. Covid covid go away, come again some other day ... like in ten years or something.

You haven't got the slightest idea of what China or Chinese people or the Chinese governments are like, so let me politely suggest you go jump on a brick. Shitforbrains loudmouth, just like the rest.

No, stu, alas, same as occidental women ... ("Occidental hell, they do it on purpose !")
Wisdom does not always come with age sometimes age comes alone
 
Joined
Apr 14, 2018
Location
Airstrip One, Oceania
Wisdom does not always come with age sometimes age comes alone
Maybe. But living in a place for twenty-eight years gives me a little more on-the-ground knowledge than some twit reading newspapers half a continent away.

I have a tendency to trust my eyes more than your newspapers. Even stuck overseas, the phone and email still works. Plus your crap about "Chinese lie" ... not sure how to put this, but you wouldn't want to say this to my face.
 

mrSanders62

Cast Iron
Joined
Jan 8, 2022
Maybe. But living in a place for twenty-eight years gives me a little more on-the-ground knowledge than some twit reading newspapers half a continent away.

I have a tendency to trust my eyes more than your newspapers.

newspapers)))) you're a mossy rock, you've probably only fucked Chinese women in your dreams
 

Bill D

Diamond
Joined
Apr 1, 2004
Location
Modesto, CA USA
I heard people are lining up in Ukraine to withdraw as much cash as possible. I do not trust digital currency in a cyper war with putin.
Bill D
 

CITIZEN F16

Titanium
Joined
May 2, 2021
I am old school, most transactions are in cash, except buying gas, I use a card so I don't have to go back in and get change on a fill up. I have seen people use a card to buy a hot dog and soda at a convenience store, that definitely is not me.
 

gustafson

Diamond
Joined
Sep 4, 2002
Location
People's Republic
I tend to use cash in my day to day personal transactions, not because of the gov't but because all the information tracking.

No business that is at all on the up and up needs to worry about 'digital' transactions. All my business income gets deposited in the bank, and has for 30+ years

Can't hide that, why would you?

Most of my buisness expenses are similarly checks from my bank or digital transfers.

If you are so outside the realm of reality that you think you can hide 'income' from the 'government' I do not know what to say.


Everyone who actually runs a business knows the game is played on the expense side.

They also know as an individual you are fooling yourself.

OOH, OOH, I get to write my new torque wrench off my taxes.

Yeah, guess where my brandy new torque wrench is right now?

sitting on the bench at work


My business predates The Web, but while it has made tracking transactions more efficient, once you are in the banking system from the 80's, there was no 'privacy'
 

Scottl

Diamond
Joined
Nov 3, 2013
Location
Eastern Massachusetts, USA
CalG,

I share your concerns about digital only. It is nice as an option but far too easy to rig against "the wrong people" which could be anything from having "the wrong politics" to a company competing with a well connected corporation.

The privacy issue is also troubling but it's more a matter of degree as all funds that move through the banking system go through a clearing house. What will happen with digital transactions is that "they" could now know not only what funds are transferred between parties but also all the details of the transaction.

Personally, I use online transfers as well as checks, credit card and cash but the real beauty of cash is that a cashier won't tell you the transaction didn't go through because your funds are blocked and IMO it's only a matter of time until the practice of "demonetizing/defunding" for political reasons is extended from popular bloggers to ordinary people.
 

Freedommachine

Hot Rolled
Joined
May 13, 2020
I heard people are lining up in Ukraine to withdraw as much cash as possible. I do not trust digital currency in a cyper war with putin.
Bill D

Crypto is up a lot right now. It wouldn't be a bad idea to open a coinbase account and throw $100 on Bitcoin or the like.

BTC is up 15% UMA is up 50%!
It's been a good day :D

I bet there is a ton of currency from both Russia and Ukraine going into crypto right now. Nation backed script is a complete joke anymore.
 

Freedommachine

Hot Rolled
Joined
May 13, 2020
We could all argue whether tracked "digital transactions only" is problematic or not.

I am of the position that even if it doesn't cause direct harm, aren't there some things that should stand on principal?

Before anyone says; "it's not about the government"... Uh yes, it is. These 3rd party corporations will hand over anything at any time - read the privacy policy. The government is constantly running financial dragnets looking for who knows what.


When did it become unreasonable to want absolute privacy without creating suspicion? The government says; "Well you could be a criminal or a terrorist laundering money and we need to know that."

Fine, prove that I've done something wrong we'll go from there.

Why do they get nervous when they cannot see what the citizens are doing? Am I the only one who finds this absolutely unacceptable?

I could deposit $15k into my account without question, yet I have to be interviewed by the bank manager and have a report sent to the IRS for me to take it back out? Absolutely unacceptable.

I don't like digital currencies, but at least crypto currency cannot be tracked very well; your account cannot be frozen and your assets cannot be seized.

I'm not a criminal, I don't ever plan to be - but with the ever growing threat and/or use of authoritarian control around the world lately, it's hard telling what dragnet might sweep you up, get you flagged, put on a list and your account frozen.

I'm not saying we should all treat crypto as some rock stable form of legal tender but diversity of assets and learning a little about that world could be a wise choice.
 
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