A Cashless, High-Value, Anonymous Currency: How?: jfruh writes “The cashless future is one of those concepts that always seems to be just around the corner, but never quite gets here. There’s been a lot of hype around Sweden going almost cashless, but most transactions there use easily traceable credit and debit cards. Bitcoin offers anonymity, but isn’t backed by any government and has seen high-profile hacks and collapses in value. Could an experiment called MintChip brewing in Canada finally take us to cashless nirvana?”
Read more of this story at Slashdot.
Please see my previous post on this topic.
The only cashless system is a 100% barter system. Or pure communism: “From each according to his ability, to each according to his need“, which has never and will never work due to human nature. If one’s hard work is used to reward the sloth of his fellow man, then he, likewise, will not work. And to quote from my moral code: “If any will not work, neither let him eat.“, and “…if any provideth not for his own, and specially his own household, he hath denied the faith, and is worse than an unbeliever.“, so at least for me, this is not an option. On top of the fact that there is no incentive to work under communism, it requires a strong central government to force labor. As so aptly worded by George Orwell, “All animals are equal, but some animals are more equal than others“. Let’s not just pick on communism here, because there is a strong case to be made that all fiat currencies are Orwellian. It is not in the power of “We the People” or the free market to set and control the value of the U.S. Dollar, but that power has been granted to the Federal Reserve.
As a Junior Mogambo Ranger, I’ve got a pretty idea of where a cashless system would lead us.