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Apple CEO Tim Cook: 'We're Going To Kill Cash' (cnet.com)
At a media event on Thursday, Apple CEO Tim Cook said that the Touch ID on the new MacBook Pros will make it incredibly easy for people to do online money transactions. After the event, speaking to reporters Cook made a bold statement about how he sees Apple Pay. CNET reports: "We're going to kill cash," he said. "Nobody likes to carry around cash." He makes most of his purchases with Apple Pay (which is not surprising).Cook's comment comes days after Australia's top banks refused to support Apple Pay, saying that the company has been 'intransigent, closed and controlling'.
But you're wrong. There are a metric crapton of us out here who like to carry cash.
General Relativity: Space-time tells matter where to go; Matter tells space-time what shape to be.
Closing the loop on cash transactions is just another way to ensure everything we do is tracked.
I use cash for almost everything...
The only thing I usually use my card for is the gas pump (because it is so much more convenient).
I'm sorry but my dealer disagrees.
Six years into his CEO tenure and all we keep getting is promises about the great products Apple has in the pipeline. That pipeline must be long enough to stretch to the moon because we haven't seen anything great since he's been in charge.
Once you purchase apple devices and accessories, you have no cash left - only debt.
So Tim Cook wants to take away headphone jacks, magsafe and now cash. What's next? Christmas?
"Nine times out of ten, starting a fire is not the best way to solve the problem." - my wife
Why carry a wallet with cash when you can lug around your macbook pro instead.
And I endorse that message!
its time to track yet more types transactions with your brand as PRISM did?
Removing more anonymity and privacy and replacing it with more currency transaction reporting, suspicious activity reporting and monetary instrument logs.
Domestic spying is now "Benign Information Gathering"
Interesting take and background on this idea, and some why it's a bad idea: http://thelongandshort.org/soc...
Don't forget full size USB ports, DisplayPort, and HDMI connectors!
One thing that Apple certainly isn't killing: adapter cables.
We have a system already whereby you can carry a little tiny card of plastic around with you to buy things. It works almost universally. It's already somewhat "killed cash".
And this idiot thinks that now being able to use something that's slightly more difficult to use at best is somehow going to "kill cash" more than it already is?
He's a moron and he's talking stupidly. Debit and credit cards "killed cash" already about as much as it will be killed anytime soon.
How do I pay for my hookers and blow in a manner that can't be traced?
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Here in New Zealand cash was all but killed many years ago. We were early adopters of POS cards and for decades now even the smallest stores have relied almost entirely on card transactions. A few years ago I tried paying for coffee with cash and the young lady behind the counter looked at the notes as if I'd just handed her a fish as payment. She had to ask her manager how to process cash.
Like most people I know, I carry a small amount of cash in my wallet just in case, but it's the same two $20 notes I've had in there for about a year.
However, as rare as it is for me to use cash, I occasionally still do. For example, if my kids need a couple of dollars for a school activity, a coin is the best solution. I've lived half of my 50 years almost cash-free but it will never be completely cash-free. I can't see why it would be a good idea to lose the cash option completely, and I seriously doubt that it will ever happen.
While I use credit cards for a lot of things. I have no desire to fully replace cash and I DO LIKE to carry cash. cash doesn't require me to ensure I have a charge on my phone/laptop, it still works if the shop is having technology issues and is hugely convenient for small transactions. that is without getting into all the extra security and tracking issues with technology solutions here.
Nobody likes to carry around cash
Well, I prefer to carry cash rather than to disclose what I buy and where I am to banks and others that piggy back on them.
When I was a kid, my dad told me how one day all you'll have to do is convince a computer you have money, and boom! You could be a millionaire.
Chewbacon
The Bible is like Wikipedia: written by a bunch of people and verifiable by questionable sources.
As a stockholder, I am prone to agree. I feel like it's John Scully all over again. But this time there is no Steve waiting in the wings to save us.
If my bank statement's more than one page long, it's too long. I hate reviewing the things so I like to keep them simple. I've had fraudelent activity on my credit cards, I've had cards stolen when overseas and struggled to remembered all the recent transactions when I've called the bank, and I've been a victim of identity theft.
Budgeting is a lot easier with cash too, especially as you have a physical sense of it leaving your wallet. I'm speaking as somebody who went almost cashless and did even the smallest of transactions by card 15-20 years ago. I've gone back to cash because it's better.
You're right, Apple is much better at that.
"I know I will be modded down for this": where's the option '-1, Asking for it'?
Even if the banks are scanning all serial numbers big deal. When I worked at a gas station years ago all small bills, less than a 20, would likely be taken from a customer and handed back to a different one as change. The only time that small bills would end up sent back to the bank is if they were part of the safe drop when we counted down the register at the end of a shift, and even then we would try to keep the small bills by changing them out for 20s or higher from the current registers before making the deposit. I would imagine that the smaller the bill the more it cycles through various private entities before it gets back to a bank. Hundreds, fifties and probably 70% of twenties seem like one and done before they are back at a bank but the other bills probably cycle through a number of times. Also if you wanted to confuse the system wait a while before spending a larger bill.
Time to offend someone
Wow, really?
I find cash to be perfectly convenient.
I am assuming that other things you might find a huge pain in the ass:
- Engaging the turn signal in your car or otherwise paying attention while driving
- Bending over to pick up a piece of trash you accidently dropped on the ground
- Washing your hands after using the bathroom
- Turning off your cell phone in a movie theater
- Waiting more than a day for someone to deliver stuff to your door step
- Calling your mom on mother's day
My eyes reflect the stars and a smile lights up my face.