check out the new remote control Jockey Wheel SmartBar Topargee products Enginesaver Low Water Alarms
Members Login
Username 
 
Password 
    Remember Me  
Click here for the Grey Nomads website -> The Grey Nomads Forum -> The Grey Nomads - General -> The future is NOW and it is coming our way
Post Info TOPIC: The future is NOW and it is coming our way
JayDee


Guru

Status: Offline
Posts: 1835
Date:
The future is NOW and it is coming our way
Permalink  

Yes the future is coming our way and we will benefit from same, just like most inventions.

I have edited this article as it is also referring the sharemarket, and do not like to give advice on the market.

But it is coming .... believe it or not... No it is already here in China.

Jay&Dee

If you haven't visited a certain ancient society lately, you may find the following story hard to believe... even alien to you.

But by simply accepting it and understanding the sheer genius of it, you may find yourself very interested in ways to invest in this exciting technology.

But before I get to how to invest in it...

Imagine a society where people stroll out of their houses in the morning and leave their wallets behind.

They go about their day with no credit cards, no debit cards, and NO cash. (In fact, merchants laugh at them if they even attempt to pay with these "primitive" items.)

Well, that society not only exists today, but it's also 50 times larger than the Australian population, and it seems far ahead of us when it comes to implementing this radical, game-changing, and extremely profitable technology.

This quote from a Bloomberg reporter sums it up well: "So when I tried to use cash to pay for meals or odds and ends at 7-Eleven, waiters and shopkeepers were either confused or bemused."

I'm talking about China, where people in urban areas can glide through their normal days with nothing but one or two apps on their smartphone.

Call it "the death of credit cards" or "the death of cash" or whatever you want...

... But it's spreading quickly across the globe, and I believe every investor needs to understand this or risk missing out on several companies that could potentially rake in billions from this inevitable wave.

How much longer do you think this technology stays under the radar with this kind of coverage?
 

  • The New York Times calls it "a gold mine of staggering proportions." 
  • Research firm IDC told the Times: "Literally every business and brand in China is plugged into this ecosystem."
  • BI Intelligence estimates global growth from roughly $100 billion this year to $700 billion in 2020 a roughly 88% compound annual growth rate.


And heck, even The Sydney Morning Herald says the Reserve Bank figures show a steady decline in cash withdrawals from ATMs



__________________
elliemike


Guru

Status: Offline
Posts: 1021
Date:
Permalink  

I remember (maybe ten years ago) reading an article in the West Australian I think ? about "Money" Barter, Coins , Bank Notes, Credit Cards.   It forecast then saying the "Credit Card" would be the shortest lasting form of currency transaction we have had, it's time was already limited. The phone app would doing it all for us.  Facial recognition at the pay point as well. 

I can remember in the early fifties,  going to a Saturday morning kids cinema (The Premier) in Liverpool UK. We could pay our Sixpence,  or pay with  six half pound Jam Jars . The jam jars  had a penny refund on them. One pound Jam Jars were worth Tuppence each so only three required. How times change. 



__________________

Mike & Ellie
Whenarewethere


Guru

Status: Offline
Posts: 7582
Date:
Permalink  

A typical problem in the outback & not so outback Australia. There was no mobile coverage either.

IMG_20190921_102840425.jpg



Attachments
__________________

Procrastination, mankind's greatest labour saving device!

50L custom fuel rack 6x20W 100/20mppt 4x26Ah gel 28L super insulated fridge TPMS 3 ARB compressors heatsink fan cooled 4L tank aftercooler Air/water OCD cleaning 4 stage car acoustic insulation.
wasn_me


Guru

Status: Offline
Posts: 507
Date:
Permalink  

What are the crooks going to do with the millions of dollars in folding notes they've got stached away? Cheers Pete

__________________
Whenarewethere


Guru

Status: Offline
Posts: 7582
Date:
Permalink  

There are 300 million $100 notes, 3 times as many as $5 notes. Only 10% of the $100 have every reappeared in circulation. So $100 notes will simply stay under the bed.



__________________

Procrastination, mankind's greatest labour saving device!

50L custom fuel rack 6x20W 100/20mppt 4x26Ah gel 28L super insulated fridge TPMS 3 ARB compressors heatsink fan cooled 4L tank aftercooler Air/water OCD cleaning 4 stage car acoustic insulation.
Craig1


Guru

Status: Offline
Posts: 4532
Date:
Permalink  

There are new Federal laws ready to be passed. "Cannot pay more than $10,000.00 in cash " for a commercial transaction. Will be some high beds soon.

__________________

Cheers Craig
Knight


Senior Member

Status: Offline
Posts: 337
Date:
Permalink  

Craig1 wrote:

There are new Federal laws ready to be passed. "Cannot pay more than $10,000.00 in cash " for a commercial transaction. Will be some high beds soon.

 The law already existed requiring banks to report amounts withdrawn over $10,000.00

 

https://www.hsbc.com.au/content/dam/hsbc/au/docs/pdf/aba-fact-sheet.pdf



-- Edited by Knight on Sunday 27th of October 2019 09:25:41 AM

__________________
Mamil


Senior Member

Status: Offline
Posts: 430
Date:
Permalink  

Yep, when I bought my car with cash four years ago the dealer had to notify the authorities by filling out a form with all my details on it, to prevent money laundering.

__________________
spida


Guru

Status: Offline
Posts: 1192
Date:
Permalink  

And when there is a major power cut and all our batterties are flat, and the shops dont have Eftpos - let alone the ability to open their electronic doors to let us in..... abd we want to camp outback where they only take cash because there is no internet access..... this headlong dash into ANOTHER new world needs some careful consideration I feel.


__________________

'Once you are infected with the travel bug you have it for the rest of your life - there is NO cure'

http://hukaroa.blogspot.com.au

 
Valkie


Veteran Member

Status: Offline
Posts: 42
Date:
Permalink  

George Orwell was an optimist It's far far worse than he could ever have imagined. And it's getting worse.

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
Click here for the Grey Nomads website -> The Grey Nomads Forum -> The Grey Nomads - General -> The future is NOW and it is coming our way
Tweet this page Post to Digg Post to Del.icio.us
Purchase Grey Nomad bumper stickers Read our daily column, the Nomad News The Grey Nomad's Guidebook