Whats the point of storing money on computers?

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  • Whats the point of storing money on computers?


Answer #1 | 23/12 2013 08:29
Your starting point aint a "fact" cos what is "cash"? No banknote is actual "cash" - its just a promisary note. All it does is promise to pay the bearer another promisary note What ARE the coins in your pocket? they are just bits of metal - the value of that metal dont anywhere near cover the value of the value of the coin stamped on it The only thing "cash" is - is trust. Trust that the value printed/stamped on it will hold its purchasing power That is - you can exchange it for something of equal value, next week or next year Its the same thing with computer Computer do not store "cash" - they store numbers that represent "value" - We have come to trust the systems on computers to ensure those numbers dont get "lost" or lose their value just like "cash" Thing with computers though - the numbers stored dont wear out like coins or banknotes do.
Positive: 20 %
Answer #2 | 23/12 2013 08:44
You don't store cash on computers, so the rest of your question is invalid.
Positive: 14 %
Answer #3 | 23/12 2013 10:58
I know what you are trying to say, but that you keep saying it's stored on computers isn't accurate - it's stored in banks. What did they do in the old days before computers they stored them at the banks and money was recorded in books (not computers.) It's not really "stored" its "recorded." Think about it - what's the point with having the expense of printing all the money that exists in the world when you can just transfer amounts on paper. Storage becomes an issue. Production costs becomes an issue. It's not practical to print all of it.
Positive: 10 %
Answer #4 | 23/12 2013 11:29
There are two type of money, the cash type which you can use day to day to pay for petrol, food, drinks, clothes etc. Then the electronic type which is safer to use and allows you to transfer directly into the recipients account. It is not so much what is the point of storing money in computers or electronically. The point is that you can exchange money for goods and services electronically which is far more safer and convenient than carrying wads of notes in your pockets and getting mugged daily. Lets take an example to make this crystal clear in your mind - if you wanted to buy a car for £18,000, would you go to your bank, take out £18,000 in cash and then put it in a Tesco carrier bag and go to the car dealer to pay him? You would get mugged ten times over before you walked ten steps away from the bank. Do you get what I am saying?
Positive: 10 %

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