Australian (ASX) Stock Market Forum

Cashless society

Weird, I have an old Samsung 7 edge myself as my "new" phone, and it handles 4g?
It could be more of a location,/coverage issue than phone model?
now THAT is highly possible as well , a provider/network black-hole some can't get 4G solid and that was in the Brisbane Gold Coast corridor ( basically the main population density in Queensland ) probably all the 5G surveillance stuff hogging the bandwidth
 
It’s not the handing over the $50 that is hard/annoying.

It’s dealing with the change (especially foreign currency) and then having to make a special trip some where or go out of my way to pick up more $50 notes when I run out.

I also like my $50 notes to be sitting in the bank earning interest, while I spend the banks money and earn points.

But everyone is different I guess.
I see digital as a national/personal security threat.


I personally spend roughly $200-$500 a day in cash with no problems.
Im tech savvy enough and have used literally everything, give me cash any day.

Like you said "personal preference".
Keeping cash though is important for a wide range of reasons.
 
There was an incident where a guy hacked his Tesla and started turning on features. Memory is a bit fuzzy but I think they threatened to turn his car off.

Is it in the terms and agreements?

Is this the issue you refer to -

Earlier this year, we reported on a company called Ingenext that released a device that enabled Tesla owners to unlock the same capacity for half the price.

All Model 3 owners have to do is plug a connector to their MCU, and they automatically get the 50 hp boost plus a few other features from Ingenext, like a “Drift mode.”

But as it was suspected, Tesla is starting to fight back against the hack.

Some owners who purchased the device have received this in-car notification after the latest Tesla software update (via /u/potato3838 on Reddit):

Tesla-hack-fight-bacl.jpg
As you can see, Tesla says that it detected “incompatible vehicle modification,” and that it could result in a “potential risk of damage or shutdown.”

The notification apparently stays stuck on the screen like that, but the vehicle remains drivable.

 
There was an incident where a guy hacked his Tesla and started turning on features. Memory is a bit fuzzy but I think they threatened to turn his car off.

Is it in the terms and agreements?
That was a bit of a media beat up, if you guess someone’s app password or get into there Tesla app some how, all you can do is things like.

1. Turn on aircon
2. Open windows a crack.
3. Honk horn.
4. Unlock doors

Nothing major like turn the car off, even if some one steals your car there is nothing you can do through the app to stop them accept track them, and honk the horn.
 
There was an incident where a guy hacked his Tesla and started turning on features. Memory is a bit fuzzy but I think they threatened to turn his car off.

Is it in the terms and agreements?
people have been playing ( hacking , security testing ) car electronic systems for over 20 years )

they have used wireless , wireless jammers , blue-tooth even physical contact devices ( which contact to the attackers gear direct )

given Tesla has many high profile customers that will be a given ( a better reward if successful ) ( the average Ford Focus owner isn't rolling in moola )

now Tesla might go to extraordinary lengths to keep such successes secret ( think anomalies in the Diana limo death )

the core problem will be the encryption devices on the target problem , the attackers don't always break the obvious protection they may go around , behind or just overwhelm it
 
That was a bit of a media beat up, if you guess someone’s app password or get into there Tesla app some how, all you can do is things like.

1. Turn on aircon
2. Open windows a crack.
3. Honk horn.
4. Unlock doors

Nothing major like turn the car off, even if some one steals your car there is nothing you can do through the app to stop them accept track them, and honk the horn.
It was to turn on the paid features from memory.
Is this the issue you refer to -



Yeah something similar. There was one particular guy who was doing it that they made the threat to.
 
Either way, it’s the future, back up systems will just have to be installed, trying to go against it is like trying to swim against a rip in my opinion, it’s over it’s happening already.

Workers at most shops now seem shocked when you pull out cash.

I reckon the next thing to die is physical credit cards, more and more people just use their phone.
Yes, cashless is well and truly with us.
The sticking point and main blow back I feel is the coercion that we are being forced into cashless.
 
Update on that local Telstra outage. Well, it wasn't so local. Power outage in Sth Aust, battery backup power depleted then from Pt Augusta and environs to east of Broken Hill and surrounding areas, boom, no mobile coverage.

As per the post on the ABC fb page:
From a Telstra spokesperson:
Power has been restored to our mobile site that had been affected by today’s wild weather.
Mobile and landline services in Broken Hill are now back online."
Check Telstra for more updates: https://www.telstra.com.au/outages
 
She who is never wrong was wondering how the bikies will get on if and when folding is outlawed.
depends on how they are run now , there is still theft ( in various form ) a straight swap of goods and services( 'you scratch my back )

if history repeats they will do very well as the new mafia the people you go to to solve problems with the government ( regulations )

which will be more useful in future world folding or an automatic weapon ( or rocket launcher )
 
Slowly, slowly, catch the monkey. :rolleyes:

From your ABC today:

Australian shares are in positive territory after Reserve Bank governor Michele Bullock said Australia has not fallen behind other countries in keeping inflation under control.

Ms Bullock has also warned about the economics of keeping cash circulating widely in the economy, and wonders if Australians would ever accept paying a small fee to use cash.
Michele Bullock, RBA governor:

"Look, it is a good question. And the issue with cash has always been that businesses don't really understand, I think, the costs of cash in their business. They are at the moment, I think, understanding it a bit more, but in the past they haven't really. They have called "shrinkage" as their main cost, which basically means theft, but really, they haven't really internalised, if you like, the costs of processing.
"I think the challenge with cash is that it really does have a big community, public service sort of aura attached to it. If you try to charge people to use cash, they are prepared to pay to get it out of an ATM but if businesses started charging people to use cash, I suspect there would be a very big backlash.
"Having said that, it is also true that as economists, you want people to face the prices of using particular services that reflect the cost of those services.
"So, at the moment I think we're probably in a position where it's very difficult to actually enforce payment for cash, but it is going to end up ‑ what's going to happen and what does happen at the moment is that the costs end up embedded in the costs of the financial institutions that are providing the services, and people don't face them. I think it would be a very big challenge, though, to get people to face the costs of cash."
 
Slowly, slowly, catch the monkey. :rolleyes:

From your ABC today:

Australian shares are in positive territory after Reserve Bank governor Michele Bullock said Australia has not fallen behind other countries in keeping inflation under control.

Ms Bullock has also warned about the economics of keeping cash circulating widely in the economy, and wonders if Australians would ever accept paying a small fee to use cash.
Michele Bullock, RBA governor:
Just Me and She musing. Is the organ grinder's monkey even on the planet. A lot of th small businesses that we use love th stuff. Straight into the back pocket and not for the ATO to ever know about.
 
A few friends and I are thinking of starting a new livery company with its inaugural chapter right here in Perth Western Australia, viz ¹The Worshipful Company of Luddites.

Guiding principles art to take us right back to the 70s and 80s... No mobile phones, no social media, no programmable digital currencies, proper V8s with carburettors, etc etc etc

....and decent feckin rock and roll (the period in question will obviously be truncated at the advent of disco).

¹Context: another livery company which I am associated with https://www.wcf.org.uk/
 
Top