Quote from: Altas on October 25, 2017, 04:29:23 AM

Quote from: aencarnaci on October 25, 2017, 04:15:08 AM

Quote from: pugman on October 16, 2017, 08:43:47 AM

Quote from: AleksBozhinov on September 29, 2017, 06:04:25 PM

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

That's actually not good for any economy because the GDP of the economy will be affected very badly when it would be compared to an economy which only uses physical coins. Most of the economists consider crypto as a transfer income which again is not used when national income or GDP is calculated. And poor people will find it really hard to use cryptos as they might have not even used a computer before and they don't such facilities as well.

I dont think a community without physical money is safe for the poor ones. Not everyone can be able to buy an ordinary Android mobile device, talk-less of buying an Apple iPhone and laptop. So I dont support the idea of having only digital money, its nonsense, only someone stupid and selfish will come up with such an idea.

Having digital money is good if the government take the responsibility of educating each and every citizen of the nation. Also need to ensure the security of the digital money, because the poor keeps hold of little savings and if that too gets hacked he can't have a living.

It is looking as impossible but if for example it happens then it will be good for the poor one subject to the country wide awareness campaigns and merging it in the education then poor one will not be affected, So we can hope that it will have good effect even on every categories of people.