Cash transactions are becoming more and more rare

[ABCbits]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

[Roseline492]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

For me cashless policy is a nice development because it can easily reduce the risk involves in moving around with cash, just imagine if you are going to purchase something that worths millions and you decided to pay with cash, is actually very risky having that amount on a physical cash, which is why that policy is totally the best.

Though before were I come from cash payments was the best options for people to use but after a certain period when government order the banks to start regulating the amount of cash that should be given to an individual per transaction, at first it affected the masses but overtime people became use to it and now nobody wants to transact with cash.

[MUGNIA]

The development of the times gives us many conveniences in making transactions, but this sometimes makes people confused for those who don't understand.  But in the end they will definitely follow it too, I have experienced this myself.  One time I entered a large shopping store in the city center, it turned out that many people couldn't use cash for payment and had to use digital wallets. This is truly a very fast development, and if we don't follow this then we will be far behind.

because basically they are reluctant to carry out cash transactions, because they are lazy about counting money manually and carrying a lot of paper in their bags, by paying digitally they don't have difficulty counting and carrying large bags filled with money, and this can also avoid crimes out there such as robbery for example.

[ABCbits]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

For me cashless policy is a nice development because it can easily reduce the risk involves in moving around with cash, just imagine if you are going to purchase something that worths millions and you decided to pay with cash, is actually very risky having that amount on a physical cash, which is why that policy is totally the best.

I get your point and almost no one would use cash for sending millions anyway. But from what i've seen, the limit could be as low as 1000 EUR which is concerning to me.

Though before were I come from cash payments was the best options for people to use but after a certain period when government order the banks to start regulating the amount of cash that should be given to an individual per transaction, at first it affected the masses but overtime people became use to it and now nobody wants to transact with cash.

Because most of them prefer convenience or mostly trust bank they use.

[Kemarit]

The development of the times gives us many conveniences in making transactions, but this sometimes makes people confused for those who don't understand.  But in the end they will definitely follow it too, I have experienced this myself.  One time I entered a large shopping store in the city center, it turned out that many people couldn't use cash for payment and had to use digital wallets. This is truly a very fast development, and if we don't follow this then we will be far behind.

because basically they are reluctant to carry out cash transactions, because they are lazy about counting money manually and carrying a lot of paper in their bags, by paying digitally they don't have difficulty counting and carrying large bags filled with money, and this can also avoid crimes out there such as robbery for example.

But in any case, I have seen and experience people still carrying big amount of money for transactions like going to the bank to deposit or even withdrawing money. So it's not universal, I think most 1st world countries, are totally relying to cashless payment with credit cards or cryptocurrencies. On the other side of the world though, wherein there are a lot of unbank people and so they just go with having fiat money in their wallet to do all their transactions like groceries.

Of course, you need to be very careful if you are carrying big amount of money because there are chances that you are going to get robbed. Think about though those people who won big in casinos and being paid cash in millions of dollars.

[UNIVERSE]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment.

You're right. It has become commonplace that people are starting to choose not to carry large amounts of cash. They prefer payment by online transactions, it is more simple and more secure. However, it mostly happens in city, it still can't work fine in the villages. Villagers still prefer using cash for any payment purposes. Moreover, paying online requires good internet, it is unable to do with bad internet or no internet network. So, I think we don't need to worry because it is simply impossible to have no cash payment. In certain areas cash payment may be getting rare, but there are still many areas to rely on cash payment. For example in the villages, they have no idea to use online transactions for all payment purposes.

Some government even attempt to limit usage of cash on big transaction or certain transaction type.

There is no problem if the government limit the cash, it is also still optional. I think the government didn't force us to pay with no cash. As long as it is just an optional, we shouldn't be worried so much. 

[MUGNIA]

The development of the times gives us many conveniences in making transactions, but this sometimes makes people confused for those who don't understand.  But in the end they will definitely follow it too, I have experienced this myself.  One time I entered a large shopping store in the city center, it turned out that many people couldn't use cash for payment and had to use digital wallets. This is truly a very fast development, and if we don't follow this then we will be far behind.

because basically they are reluctant to carry out cash transactions, because they are lazy about counting money manually and carrying a lot of paper in their bags, by paying digitally they don't have difficulty counting and carrying large bags filled with money, and this can also avoid crimes out there such as robbery for example.

But in any case, I have seen and experience people still carrying big amount of money for transactions like going to the bank to deposit or even withdrawing money. So it's not universal, I think most 1st world countries, are totally relying to cashless payment with credit cards or cryptocurrencies. On the other side of the world though, wherein there are a lot of unbank people and so they just go with having fiat money in their wallet to do all their transactions like groceries.

Of course, you need to be very careful if you are carrying big amount of money because there are chances that you are going to get robbed. Think about though those people who won big in casinos and being paid cash in millions of dollars.

emmm. I think it's a different case if someone wins from gambling, they will definitely hire the police or bodyguards to protect them, like in a bank, if we withdraw large amounts of cash, the bank offers us safe arrival by bringing the money to its destination.
but it's true what you say, there are still many people who use the old method of using cash, especially older people who don't understand technology and areas where technology is still difficult to enter.

[ABCbits]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment.

You're right. It has become commonplace that people are starting to choose not to carry large amounts of cash. They prefer payment by online transactions, it is more simple and more secure. However, it mostly happens in city, it still can't work fine in the villages. Villagers still prefer using cash for any payment purposes. Moreover, paying online requires good internet, it is unable to do with bad internet or no internet network. So, I think we don't need to worry because it is simply impossible to have no cash payment. In certain areas cash payment may be getting rare, but there are still many areas to rely on cash payment. For example in the villages, they have no idea to use online transactions for all payment purposes.

Satellite internet (such as Starlink) gaining popularity, so in next decade people on village or other small area probably also use cash less frequently.

Some government even attempt to limit usage of cash on big transaction or certain transaction type.

There is no problem if the government limit the cash, it is also still optional. I think the government didn't force us to pay with no cash. As long as it is just an optional, we shouldn't be worried so much. 

That's true. Although some country or region (such as EU) already make the limit as part of the regulation. Here's an example, https://www.evz.de/en/shopping-internet/cash-payment-limitations.html.

[milewilda]

So as I wrote in the title, people are paying for stuff with cash less and less. And the evidence for this is given in this report.

Digital wallets (not crypto wallets, but the Apple Pay, Google Pay, Paypal, Venmo, Cash App kind of apps) were used in 50% of the transactions. And in many of the first world countries, cash settlement is below 20% compared to cards and "digital wallets" (again, not crypto wallets).


I would argue that cash is more useful to Bitcoiners than cards or other digital wallets as these cannot be confiscated by a 3rd party, besides the government who we are not worried about here, and we can deposit them into the digital wallets and bank accounts without issues.

We are now on a digital era on which it would really be that understandable that there would really be such changes on which everything would really be changed up but we do know
that it would really be just that the same. Why? we would really be needing fiat on top-up those accounts on which it would really be just the same. It is really just that
fiat to fiat transactions becomes less and become digitalize but just like been said that it is really just that the same about fiats relevance.
Everything would really be that going into such change since we become that even more high tech as years passing by.

[Mr. Magkaisa]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

For me cashless policy is a nice development because it can easily reduce the risk involves in moving around with cash, just imagine if you are going to purchase something that worths millions and you decided to pay with cash, is actually very risky having that amount on a physical cash, which is why that policy is totally the best.

Though before were I come from cash payments was the best options for people to use but after a certain period when government order the banks to start regulating the amount of cash that should be given to an individual per transaction, at first it affected the masses but overtime people became use to it and now nobody wants to transact with cash.

           -   I don't see anything wrong with cashless payments; as long as you don't put a big balance, like a million, it should be the right one. Cashless payments are actually safer. That's why not all business establishments have accounts through cashless payment.

There are still other times when cash is still needed, meaning there is a right place for cashless payments, like shopping online, shopping in malls, making bills online, etc. And safe from physical robberies, although the only risk with cashless payments with online banking accounts is that they will be hacked by hackers or phishing victims.

[Dr.Bitcoin_Strange]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

Honestly, convenience is pretty cool and all that, but going completely cashless also has its own disadvantages you know, if a place only accepts cashless payments, how about those that don't have access to digital means of transacting? I mean how are they gonna cope?
And governments attempting to limit cash usage, what's that? It's okay if they want to be track every transactions but honestly people should also be able to decide how they spend their money, I mean it's their money right? It's not as if cash payment is going extinct anytime soon.

[jeraldskie11]

It's not surprising when some people prefer convenience (such as only bringing their smartphone). Although what worries me that some places begin to only accept cashless payment. Some government even attempt to limit usage of cash on big transaction or certain transaction type.

For me cashless policy is a nice development because it can easily reduce the risk involves in moving around with cash, just imagine if you are going to purchase something that worths millions and you decided to pay with cash, is actually very risky having that amount on a physical cash, which is why that policy is totally the best.

Though before were I come from cash payments was the best options for people to use but after a certain period when government order the banks to start regulating the amount of cash that should be given to an individual per transaction, at first it affected the masses but overtime people became use to it and now nobody wants to transact with cash.

           -   I don't see anything wrong with cashless payments; as long as you don't put a big balance, like a million, it should be the right one. Cashless payments are actually safer. That's why not all business establishments have accounts through cashless payment.

There are still other times when cash is still needed, meaning there is a right place for cashless payments, like shopping online, shopping in malls, making bills online, etc. And safe from physical robberies, although the only risk with cashless payments with online banking accounts is that they will be hacked by hackers or phishing victims.

Some business establishments don't accept cashless payment is because they don't really know how to use it well, especially the money is involve. For me, I would consider adding a cashless payment because it increases the sales since not all people are carrying cash, some of them used to pay cashless. We have saying that early birds can get the worm first, you can maximize the benefits of the cashless payments if you add it in your business.

[KingsDen]

I would argue that cash is more useful to Bitcoiners than cards or other digital wallets as these cannot be confiscated by a 3rd party, besides the government who we are not worried about here, and we can deposit them into the digital wallets and bank accounts without issues.

Your argument is very much valid here. Infact cash remains the best way to make untraceable transactions and avoid some confiscations. But the issue is how scalable or reachable cash is. Many of the things Bitcoiners need are gotten outside their locality and country. Cash cannot perform a trustless transaction, that is where its limitations come in. Besides that, cash is very useful to bitcoiners.

[Makus]

Some business establishments don't accept cashless payment is because they don't really know how to use it well, especially the money is involve. For me, I would consider adding a cashless payment because it increases the sales since not all people are carrying cash, some of them used to pay cashless. We have saying that early birds can get the worm first, you can maximize the benefits of the cashless payments if you add it in your business.

It's obvious that on the next couple of years, if you don't accept cashless transfers you'll loss more customers than ever, because the world is getting fully digitalized, people can work remotely from home, attending meetings online and other physical activities are getting digitalized, so it's left for them to join the trend or stay out dated and loss their customers to who make life more comfortable band easier for them. Humans prefer easy and swift way of getting things done especially if the option is available, so depriving them from such offer will only make them avoid you, except they have no other choice but to accept.

[Stompix]

That's true. Although some country or region (such as EU) already make the limit as part of the regulation. Here's an example, https://www.evz.de/en/shopping-internet/cash-payment-limitations.html.

Still a minority and even some of the limits are really ridiculous, for example in limits raised to 5000 euros in cash for a payment in Italy, common, how many times do you feel like going out and paying 3 monthly average wages in cash?  Besides, if they want to really limit cash they could do it far easier, by stopping printing anything above the 5 euro banknote, and cash usage would drop by 90% next day!

In reality, nobody is going against cash for groceries other than the consumers themselves!
Sweden is actually trying to make accepting cash mandatory despite nobody wanting it anymore!
https://www.riksbank.se/en-gb/press-and-published/notices-and-press-releases/press-releases/2023/political-decisions-needed-urgently--so-that-everyone-can-pay/