It was in the news that the Canadian government is looking at it. Substituting it and withdrawing conventional currency would obviously leave a perfect trail of your financial life.

There are several indications. Concerns over the underground economy escaping taxes. Would obviously be number one. Why I had a look at it? I seldom use actual money. So in general have none on my person. It is either a debit card or a credit card that I have automatically paid of at the end of the bllling period. A bank draft or electronic funds transfer. Yet I still like what unmonitored cash can enable from time to time.

I found a guy with a set of snow tires and rims. With the tires less than two months in use. Off a 2018 Passat. Naturally this is one of those cash deals. He does not collect any tax on the sale and I do not report the transaction as a buyer. Cyber money only would be monitored by computors. Yet throwing red flags perhaps. Any transactions between two people where one did not have a sales tax license as an example. Also my guess is these types of credits could not easily go in and out of a country. Other than by government arrangement with foreign ones. Exchange arrangements for the individual might have to meet rules. All money flowing in or out as credits or whatever they wanted to call them. Would show a trail. It might really hurt the drug business and various forms of crime. Fortunately they are just examining the concept currently.

If there is no longer actual cash. It would change things I think. There are other issues as well. Currently there is far less money in circulation Than what is already present in the electronic medium. Obviously the government would issue so many cyber currency credits for money they received.

There is no difference in my mind. We trust paper money simply because others think it has some value. In my mind a cyber currency issued by a countries government would not have more or less credibility. You might still barter a deal from time to time out of their potential sight. It would be harder though and awkward. I underwent a net worth audit years ago. Well aware that even with all their paperwork at the time. How our money was made and spent. Was difficult for them to verify in many cases. If back then a government based cyber type currency was in effect. The audit may have produced another result.


To me it is easy to enact once the politicians stop fighting in their sandbox. An equal exchange is offered for a period of time. Then the money on hand cannot be converted making it worthless. Anyways I found the concept interesting. I was trying to find a real reason for it not to work.

Issue is when the government (or hacker, or criminal) decides you don't exist anymore and cancels (or steals) your credits.
The more you are divorced from cash transactions, the less you are aware of the transaction. You pay bills at end of month, and are dependant on your bank or card firm to alert you to irregularities. What happens when they don't alert you?
I avoid an Australian coffee chain in NY because they only accept credit or debit, no cash allowed. I'll buy coffee from a street cart in an instant. The duty of every citizen is to legally avoid taxation, and a cash payment simply makes it less complicated.

A government financial cyber currency system. Would have layers of security beyond what exists today. Even if the system was breached the person doing it would be on record. The next time he made or received a transaction they also would know from where it was done. Plus the system may be blocked from his use.

The bottom line for me is I would not want to see a system like a cyber one replace what is.

Other than if it killed the drug business and had a great effect on reducing crime. It is really disturbing that things like this are not far from people having implanted chips. What is almost certain if society deteriorates. There will be changes people will not want. This type of change is better than the emergence of a police state,

When this point is reached is unknown but possibly inevitable. Things like illegal entry of a country become impossible as well. There is no way for them to aquire money as it no longer exists. Or cyber currency. Since they are not on the data base there is no way for them to aquire it. Or spend it.

If you really look at it hard. Many of us already live with no actual money in our hands usually. It is a form of electronic credits system. The physical money in peoples hands creates many of the problems. Remove that medium and many things change.

I totally agree that the divorce from actual money is a great issue. At the same time it already exists and has already impacted too many negatively. For those that do not use the value exchange equation in their minds anymore. I notice more and more advertising is directed at them. This will grow as it is effective.

The people that remain responsible will still do it. Responsible in the sense they have some ideal of what they are doing. Those that are not it will make little change. It is just an opinion that things will change anyways. There are a lot of counter arguments. At the same time they do not stop eventual change.

We already have in effect a two type system in place. It seems to me electronic type money is winning. We might stop a lot of problems by the discontinuance of physical money. I guess the reason for this post to start with is the Canadian government seems to be having a hard look at it.