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My biggest fear is not cashless society, it's humanless payment processing. If you think losing access to your Google account for unspecified terms violations

My biggest fear is not cashless society, it's humanless payment processing. If you think losing access to your Google account for unspecified terms violations is bad, what about a payment processing computer malfunctioning? A few years ago my debit card refused checkout at a supermarket. After the cashier rebooted the card reader machine, it ate a hundred bucks from my account without confirming the purchase. When I called my bank they said it's all automated, couldn't do anything about it, and would fix itself in two weeks. If that hundred bucks would've been my last food money, I'd gone hungry for half a month while the entirely humanless, supportless, automated, blackbox financial system "sorts itself out". Cashless over my dead body.

perryfsg 4y ago
This is the real reason of crypto currencies. When cash is eventually being removed we lose all our rights, and the process has already started now with the introduction of the green pass. It just takes a while before the masses realize what's actually happening. With a crypto currency I can transfer value straight into your wallet without anyone in between, instantly, from anywhere in the world. Don't be blinded by the crypto scams and so, scams are everywhere around us, it's not bound to crypto. Do you realize how many scams there are with banking and cash?
Xylakant 4y ago
A while ago, a larger German bank double processed all withdrawals occurring around the end of the month - rent and associated costs for many people. I know a few folks that ended up stranded with no access to funds due to that.
LeeroyWasHere 4y ago
Living in Asia I've seen: - People's account getting skimmed without much recourse - Bank/Wallet service being unavailable/down for hours - Money being debited into a black whole when transferring or paying, taking days or weeks to be refunded. Resulted in people being stranded, not being able to go home, not able to go to work, not being able to afford groceries, meal, medecine, rent... Absolute nightmare, removing cash will impact the poorest the most, it already does.
- southerntofu 4y ago
  I've witnessed the same situations in France. Many people i know don't have a bank account, have a negative balance due to bank shenanigans, can't pay online with their cards... or on the other side of the spectrum, asylum seekers credit cards can't withdraw cash and have to be used in approved venues (eg. supermarkets). Just my two cents to point out that this is in no way specific to a region or specific bank/government. This is a widespread problem when we let government/banks have control over our lives and means of survival.
wink 4y ago
The ATM in Cuba ate my VISA on a Friday night while on vacation. That was a fun diversion getting it back. And on an actual disaster scale that ranks pretty low, as we had a second card (with a low limit) and still some amount of cash, so we weren't even completely out of money. Maybe it's better if you're somewhere close to home... but on the other hand if everyone is cashless, who could you borrow money from? Maybe a prepaid card that your friend would fill up for you... No, I'm a really huge fan of cash, at least as valid backup payment - even though, of course I enjoy the usual ease of use of card to tap payments.
- collegeburner 4y ago
  [flagged]
  - 4ggr0 4y ago
    Is giving money to capitalists overall that much better? Giving money to an international corpo which dodges paying taxes by parking their money in a tax-free country while selling overpriced products produced by third-world, low-wage workers(including children) seems wrong as well, yet most of us do it very frequently without thinking about it. Signed, someone living and working in a capitalist society.

perryfsg 4y ago

This is the real reason of crypto currencies. When cash is eventually being removed we lose all our rights, and the process has already started now with the introduction of the green pass. It just takes a while before the masses realize what's actually happening. With a crypto currency I can transfer value straight into your wallet without anyone in between, instantly, from anywhere in the world. Don't be blinded by the crypto scams and so, scams are everywhere around us, it's not bound to crypto. Do you realize how many scams there are with banking and cash?

Xylakant 4y ago

A while ago, a larger German bank double processed all withdrawals occurring around the end of the month - rent and associated costs for many people. I know a few folks that ended up stranded with no access to funds due to that.

LeeroyWasHere 4y ago

Living in Asia I've seen: - People's account getting skimmed without much recourse - Bank/Wallet service being unavailable/down for hours - Money being debited into a black whole when transferring or paying, taking days or weeks to be refunded. Resulted in people being stranded, not being able to go home, not able to go to work, not being able to afford groceries, meal, medecine, rent... Absolute nightmare, removing cash will impact the poorest the most, it already does.

southerntofu 4y ago
I've witnessed the same situations in France. Many people i know don't have a bank account, have a negative balance due to bank shenanigans, can't pay online with their cards... or on the other side of the spectrum, asylum seekers credit cards can't withdraw cash and have to be used in approved venues (eg. supermarkets). Just my two cents to point out that this is in no way specific to a region or specific bank/government. This is a widespread problem when we let government/banks have control over our lives and means of survival.

wink 4y ago

The ATM in Cuba ate my VISA on a Friday night while on vacation. That was a fun diversion getting it back. And on an actual disaster scale that ranks pretty low, as we had a second card (with a low limit) and still some amount of cash, so we weren't even completely out of money. Maybe it's better if you're somewhere close to home... but on the other hand if everyone is cashless, who could you borrow money from? Maybe a prepaid card that your friend would fill up for you... No, I'm a really huge fan of cash, at least as valid backup payment - even though, of course I enjoy the usual ease of use of card to tap payments.

collegeburner 4y ago
[flagged]
- 4ggr0 4y ago
  Is giving money to capitalists overall that much better? Giving money to an international corpo which dodges paying taxes by parking their money in a tax-free country while selling overpriced products produced by third-world, low-wage workers(including children) seems wrong as well, yet most of us do it very frequently without thinking about it. Signed, someone living and working in a capitalist society.