Bitcoin Forum

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

It's a scary scenario, but not that far removed from today.

Everyone would need to have some type of basic electronic for transacting. Even the homeless.

It really wouldn't fare well for the poor. They need access to some form of electronics to transact cash if this is the true future. Honestly, I think it would be too tough to put electronics into everyone's hands. It costs money, and chances are, the electronics that the homeless would get would be some very cheap piece of crap.

It would be the same situation when it was still all fiat. Nothing would have change with how the economy would be running except if it is in crypto, the government will not be able to control the inflation or deflation rate of the currency.

Virtual money can be safe as long as users can be sufficiently educated. It's not as simple to keep them saferly in my opinion. Technology, experience and infrastructure are needed so a potential frog leap could take more than a decade.

In the UK at least banks are now obligated to provide accounts to anyone regardless of their circumstances. I'm not sure where that leaves you if you have no address though. If I remember rightly in Rome there was a priest who provided an address that was linked to a park bench.

Cashlessness is bad news for everyone, from the poorest to the richest. It hands over complete control over every aspect of your life to people who can't be trusted with it. It's bizarre places like Scandinavia are actually running towards it with enthusiasm.

Virtual money is actually very flexible and can be safer than physical money. But imagine you are out to buy something worth 2-3 dollars and you are paying in bitcoin or through the card you are also paying some tax with the actual amount so you are paying a bit more, it does not affect the rich but for the poor it does affect them. Another case if any natural catastrophic event occurs the internet goes down and now you have no money with you to pay for anything, so physical money is important as well. Many parts of the world don't have internet access so for them physical money is everything.

If this scenario happens, we may have our digital currency connected to some kind of identification such as a drivers license. If we don't have physical money then it's going to be online and there has to be either an online bank account or an online government account for it. I assume that since banks are private companies, we would not have to keep money in a bank, so government issued digital currency could be in some kind of government account online that we could access through identification.

Not really, without physical money then they would have to store their money in a smart phone somehow. That means they cannot afford a good smart phone. Which also means that those cheap smart phones could easily break resulting to their money lost. Also, it would be a super steep learning curve that might take a long time before the public learns how to use virtual currency.

Its not a problem if we are talking about security of the wallets they have because governments will never give up the standardise money for a digital currency if there is such thing such as security threat. What I'm scared of is that the lack of technology of some regions or even country will take much impact, because by doing so it will create a bigger gap or difference between their economic process than other leading country regarding technology like Japan and USA.

When you are poor, you are poor, no matter the currency used and no matter if the currency is digital or not. Having hackers as friends is not going to change anything. You can them to play the thief and steal the dollars from innocent people but let's say Bitcoin is THE currency in the future, your friends won't be so useful

I don't think that will happen in a near future. I now China and Japan are considering creating their e-coin, and I'm sure many more will follow. It's still not bitcoin, since it will probably be controlled by governments and banks, but it will be more convenient for most people. I think there will be a time where all those options will co-exist, and paper money will gradually disappear.
As for having friends as hackers, that is already a reality, and it doesn't make the world more scary. They can already hack credit cards, so it won't be any different I guess.

To envision a world just transacting only with digital currency it takes a really long time,we will have a balance between fiat and digital currency ,you cannot eradicate poverty from the world and so you cannot force anyone to shift anyone and start using digital currency without eradicating the problems the world is facing and for the other part of your note of befriending hackers . ::)

It would really takes time or wont happen at all thinking of that all would be digitalize considering that not all people do have the resources or tools to engage with and adoption will took too long because some even didn't know how to use internet,gadgets etc. and this is why local fiat would really remain no matter what. Technology is fast upgrading but leaving behind our local paper fiat would not really be easy.

in modern market this now transaction is safe use card(debit card or credit card)
all rich people ussualy transaction in modern market not use physical money, but use card
bring a lot of money is very unsafe, can invite criminals to rob your money

They are using cards because cards are easy in these days because everyone cannot take some money with thereself so therefore they are using atm card etc so we should need to know that it's better to have little weight in hand.

It is just a next perfect case and so sad simultaneously why Bitcoin can't be official medium of exchange already.
The question is how can we sort this? For sure there is a plenty of ideas how to change this situation.
Bouncing to your question, crypto money will be more safe for poorest but also will be huge problem.

I think it is not safe since the poorest doesnt have any knowledge about digital currency. They can be fooled easily by those people who knew a lot about it. In addtion to that, they need to have or obtain at least one gadget and an internet connection in order to control and manipulate their money. We knew that poor people cant afford that kind of things so that they will have a hard time coping in digital currency.

Unless electronics are marked down to a price affordable enough for the poor, then it may be. But the idea of zero fiat is far fetched. Governments have and are investing so much into the production of fiat. As the saying goes, " It takes money to make money." So I really don’t see the planet running on digital currencies alone. Anyways, one of the reasons why digital currencies were created is to have extra cash in our pockets.. ;)

You are right that when that time comes, hackers would be the best people to have as friends. That being said, it would be bad for poor people to have a world that doesn't have physical money and all currencies being digitalized because they will need to have some kind of electronic device in order to transact, but they struggle even just to get some money to buy food to get by everyday so it will be hard for them to obtain atleast a phone or a tablet.

This is actually the reality this is why i cant think off that we would easily switch into this new way financial system on which we would really have digitalized currencies knowing off that there are people who dont have the access on the internet since they dont have any phone or pc to use on making transactions because they are busy on working just to earn small amounts for their daily living.Speaking with hackers,this would really be a real thing because it would really put you into an advantage since all things now are on electronics or digitalize.

Poor people have no money, period.  That means physical money, digital money, food,
cigarettes, all of that.  In the US if you're poor and are collecting unemployment, you
don't get a physical check anymore.  You get a debit card.  If you get food stamps, that's
all digital now as well.  So I don't think this is as big a problem as you think.  Homeless
people get benefits digitally all the time.  They don't need cold, hard cash.  None of us
does.

I still wish we weren't headed toward a cashless society.  Though it was before my time,
I miss the days when coins were silver and the USD was backed by precious metals.
Seems a quaint, antiquated notion these days, but it was useful.  I'm not an insane prepper
by any means, but money used to have intrinsic value.  That's certainly not the case
anymore.

I am sure that would never happen. At least for another 30 years to come. Also even if it happens, then also the digital money will be backed up by some real physical assets like gold or fiat money. Fiat money will never be replaced by anything. But yes, the usage of fiat currency will be minimized in future. People will prefer to use their cards for every purchase. But fiat will be there to back up the digital transaction.

However, this digital movements will not be much beneficial for the poorest class and the un-educated class because they will find it difficult to understand and use in their daily lives. So a mass awareness is required before moving in to digital economy. The governments will have to ensure the availability of internet and the infrastructure to support that digital movement.

True physical money excel on this.  when there is no electricity or internet, it will really shutdown all the transaction.  We cannot buy anything but there is another solution for this, people will go back to the ancient way of trading.  That is barter.  Goods for goods, that is if a person have something valuable in him to exchange for foods and other basic necessities.

If the transaction fees remain low and it is a totally autonomous network, then in theory it should be good for even the poorest. They would need a reliable source of internet access and be able to afford a device to use it. For some uses it can help eliminate corruption which afflicts many of the poorest people. You could see situations where physical money is more of a risk to the poor with robberies and other crime.

Yeah, I think we are not too far from that situation, the good things is, it is very convenient to make transaction using only card or mobile phone and you can bring a lot of money without attracting people, the bad things is when a disaster or the connection is not stable, at that point you wont be able to spend a dime

That's true too. I haven't really thought of the idea of a bitcoin card. You can load up the balance like a debit card and use that balance. In that case, the homeless would just need to have access to that card. I think this can be achieved pretty easily in comparison to a tech device.

I think it is much, much safer to have an economy without physical money because there are less muggings. The point of mugging someone is you take/steal their physical money, but if there is not any then muggings would not happen. :P

as you are right that if all currencies turn into a physical currency it is not possible that the best friend is a hacker.
as the poor may be so detrimental that they can not afford to buy some sort of technology to save their money, it's scary if it happens in our country

Is It safe for the poorest?, I think the poorest wont even have the gadets to put in their cryptocurrencies, so they can't even have anything because people won't be able to give them change or coins. Cryptocurrency need wallets so that you could keep some, so without wallet, they won't be able to recieve any amount of money.

I think that would be bad and scary. That means a lot of people especially on the poor side of the world , given a scenario will be more prone to be taken advantage by those people who can. The reality is on the said of the humanity these are the people who cannot afford security, protection, education and power. And that is the truth. I hope that time will not come

I think it is a slow process to have that kind of scenarios but in my point of view it is good for everyone since there would be a fast way of doing some transactions in the process since it is automated. The only problem with that or should I say the disadvantage is that we rely much on electricity for that and if there are case of blackouts we will be in vain since no legal tender that will be issued, I think we should balance the two for the better.

And regarding to that friend thing of hackers that would really be a good choice but who knows who they are, they will be really rare to be find when that time comes.

It would be hard for the poorest if it will be all digital because somehow they should get a gadget so that they can have transactions or else they would not be able to eat. It is even harder to put food in their stomach, how much more to purchase gadget that may be too expensive for them or if they were able to get one, it might not be that quality phone that may broke easily and they would end up having no gadget again. The possibility of enforcing digital currency and eliminating fiat currency totally is just not ideal for me because there are still so many people who have no access to the basic tools needed to access the network and somehow we need money to access it and the poorest of the poor have even difficulty in finding their next meal how much more having money to buy the tools needed.

the poorest don't have chance to make money and they are getting hard to make money because they need device to help them. i am sure that it will influence the digital wealth for some people but i don't think that the hacker will be the best friend for the people because people will thinking that the hacker is an attacker for their security.

I don't know why people think physical money is the best form of money that is available in the world right now. Physical money is terrible and has many faults. BTC is far superior in any aspect.

Actually the money you deposit into the bank goes from the bank to the central bank, there the money is graded as whether it can be sent back for use in the country or not. If its not in a good condition it is destroyed and if it is in a usable condition it is returned back into the economy. The bank is then only left with the digital money and not the physical money. Although the bank can keep some of the physical money or order new physical money from the central bank.

This would be very difficult for those people who are part of lower level of the society losing physical money means we will be using the technology of crypto currencies which I think they doesn't know because they are not educated about it. People might be more poorer because of this situation and I think the government can implement it. Its very hard and complicated.

I think government cannot apply this kind of economy the idea of having no physical money will become a big problem because not every one can adopt with the technology of bitcoin and aside from that I don't think cryptos cant sustain the demand needed if paper money will be gone. The number of bitcoin is limited while the demand is continue to grow that would be a big issue that they need to settle first

The way it is today, it seems impossible but I can say conveniently its something we are drifting towards whether we like it or not.

Today we talk about cashless policy and the poor does not need to be educated to be involved but they will be forced to align by the educated and the rich people in the society.

For example, all over the world, the rich will employ the poor which means the responsibility of paying the poor falls on the rich who will then simply tell the poor "give me your bank account to pay, its our policy not to pay cash" even though the poor does not want to be in the bank net, by virtue of that, he is forced to comply then  learn to also operate a bank account.

The same thing will happen if we all migrate to a digital currency world and in as much it won't be easy at first, with right enlightenment, publicity and some level of force by government, every one will fall in line whether the rich or the poor.

Most people out there can't even reach the end of the month with enough money to call yourself other than surviving, so what people do is work under the radar for cash. This is common in people that have some sort of skill like computer skills (offering repairs), language skills (offering classes), construction skills (offering fixing your bathroom or whatever).. and the list goes on and on.

Most people just can't afford paying every tax that there is otherwise they wouldn't be able to comfortably reach the end of the month, and going from paycheck to paycheck while you rot inside your bedroom because you have no money other than paying taxes, food and bills sucks and you would rather be dead than live that life, so I understand why people resort to working for cash away from the government stealing all of your money.

But once governments get rid of cash, Bitcoin will be the way to keep doing this for the people that need to, which means the price will skyrocket.

Indeed, I must be friends with hackers at that time,  ;D
I don't see it coming, paper money will last for another century I guess, but mostly payment will be made through digital or virtual currency issued by central banks, or in the time when bitcoin acceptance in global market increase and become one of the major payment method, we may rarely use paper money. But, doesn't mean hackers will be easily manipulate fiat currency due to every transaction will be recorded and can be traced.
There's no equality for the poorest, that's why we should help each other, give some of your wealth to them. As I said before, paper money will be here for the next century, or else, if everything will be digitalize, everyone should be able to use it even though for the poor.

I disagree with you. Not all people can earn that kind of money, especially those people who have no idea in the world of crypto-currency. And most of the people is much prepared the fiat or physical money, it is because fiat is demand at this era especially in buying small amount of things. Maybe those person need the credits card or crypto to avoid knowing the others that they have lot of money. But even some stores accept a credit/debit and fiat because of income.

But let’s think this way, isn’t it good? A poor man work and be given goods as a payment because they don’t have access to digital currency. Those they and I earned directly goes to our needs. We can’t go on cockpit to gambling. Isn’t that society a peaceful. Most families now argued about money all the time and this idea is what we really need.

If you work with a company you will give list of what you wanna have with your salary.
Example: foods 20%(W/list) construction materials for your house 30% (all items you list).
And so on. We can put our money where should it be. Only rich man has to go casino at that way.

It is not about what money looks like that matters, sometimes those freedoms that we abused.

Not sure how it will impact the poorest of people but Id imagine either their network would remain on paper money or everybody now has access to internet in the world which would be huge. In regards to

the wealthy well wherever there is money whether it is paper or digital or unheard of type it will be governed and ruled by the wealthy. Lastly, if bitcoin is still in effect and is the gold standard for digital

cash then hackers will be irrelevant. If you do not believe me then you yourself try hacking bitcoin I wish you luck ;)

Failing that, homeless could get benefits with an EBT/debit card.  That's what happens now--they don't get a check or cash in the mail.  It's all electronic, and it's all you need.

I've stated in other threads that it makes me a bit sad to see cash being swept aside.  I'm not a huge fan of paper money, per se, but I'd hate to see the death of coins.  Government keeps debasing the coinage, though I get that we're in a new age where intrinsic value of coinage isn't necessary.  I'm nostalgic already, and nostalgic for a time that I didn't even live in.  LOL.

Digitalization needs assets a minimal amount of assets, strong internet connection and a certain amount of knowledge and the question is Is a country or for that matter any country free of poverty ? NO ! For the poors the paper money is hard to earn by itself... Getting everything digitalized will cause a big loss for them ! They won't be able to do transactions or buy anything ... Also.. Internet connection is not strong everywhere.. nor every inch of land holds up to date devices .. thus its not possible... And what will happen during a power cut ??? Its very hard for this dream to materialize

Its not going to be fair to the poor specially to those who cant really afford to buy electronics. Imagine what are they going to use to access the internet and use the digital currency. So i think its kind of scary and a lot of people will suffer if that will happen in the future. Unless the government will help to provide them a cheaper electronics just so they can use the digital money but i still don't think its going to work though.

In practical terms it could happen, even today it is almost impossible for somebody who is homeless to survive on the street without a mobile phone. Many of the shelters provide a bed for the night for homeless people but will not accommodate them during the day, they will call them on their phone to check in for space with some of them.

It is scary how dependent we have become on our technology.

Most homeless people these days do have phones, can confirm. You would not think it to be so, but in reality phones are not that expensive, nor are pay-as-you-go plans used only when necessary.

I would not call dependence on technology scary. We are dependent on almost everything. Seriously, electricity, industry, technology, food production, the list goes on. Without any one of these things society would be set back ages, although it is clear technology is likely the most significant of them at this point.

It is totally in the hands of individual, if they preferred for physical money or in digital currency to be used. Not totally cryptos are dominant in all aspects because it have also limitations just like fiat. When we say for online transactions it could be more preferable than fiat because it is fast and easily to used.

Smarth phones are not indicator of wealth today. But good education is what we need for fully implemented crypto currencies. One more thing is inflation. Because of that we are still far away of implementing crypto instead of fiat.

The human being has a natural tendency very rapidly adapting capacity so when that type of situation would occur so that they will accommodate with that type of situation. but it's too difficult to acclimatize for the poor people as well as illiterate people. so when you bring such type of facilities then you need to consider about that community. but since they are adapting with the smartphone very easily so that it will not be the toughest task for them to be accommodated with the digital system.

I don’t think that cryptocurrency is an option to be safe for the poor people. It could be explained with a simple fact that they lack a sufficient amount of information required to handle the digital currencies due to low literacy rate. Internet connection, steady availability of exchangers and available choices for trading and investment all are limited for them. Therefore, it is not an option for them at all to pursue BTCs for earning.

Poor people will going to die because they will rely only on actual food and water to survive but i believed the government will not allow this to happen they will create programs that will educate the poor people to become literate of digital technology. This is the sole reason why fiat cant be replace by bitcoin it simply because the poor people cant able to use the bitcoin directly.

I think its not safe for the poorest if an economy dont have a physical money. It is because those people who are poor dont have any prior knowledge about digital money or coin and even if they have, only a few. The result to that, they can be fool easily by hackers or scammers and get their money.

An economy without physical money is scary but not poor. Scary because the poor will starve coz they need to have access on digital equipments which is expensive to have in order for them to purchase their needs like foods etc. Physical money realy is essential for everyday living especialyon the lower class people because they can have the money at hand and not needing any gadget to purchase the needs.

This is possible to happen in our dreams.  ;D


They will remain poor if they'll won't be depending to those countries that are rich in terms of it's economy and are adapting new modern technology in financial system.


It all depends since there are whales in the economy. Why would you make friends with hackers, to have benefits with them?

That's hard to take in if that will be the case, I mean for the less fortunate people who can't afford to buy like gadgets they could use online or doesn't have access to the internet, how will they be able to have these tokens or coins if they don't have any access to these technology? They will for sure remain poor if that will be implemented.

I don't think it will be much different from the way things work now. It's going to be harder for sure, because to deal with digital currencies mean you have to have gadgets of some kind, and since it has to store your money and you're depending on it to purchase stuff, it has to at least be decent. That being said, I don't think physical money can ever be eliminated.

I think it is very hard for the poor who cant connect to the internet and they are not yet oriented about technology. If this would be possible poor will not go with the flow. So i think it is good if we are going to still use physical money.

An economy without physical money is not favorable for the poorest, i will site my view of opinion for example a one poor little child
wanted to buy just a little thing for itself like food then how can he/she buy without physical money? i think she/he needs a gadget, a card? or
anything for digital transaction, that is why a real physical money must not be abolish in every economy regardless the status of it because it brings balance of financial circulation on a society.

Such development will not be favorable for any strata of the population. Since hacking wallets is not a secret for anybody and then people will become more vulnerable to scammers.

I think it would be very difficult for the lower members of the economy if paper money will be totally out because this would mean that they need to adopt to the technology which is very hard for them to understand, they were uneducated and government need to support them first in learning the new technology

 :D hey obviously the answer is no !
How do you expect a poor person who earns 1 dollar a day to save up enough to buy a Mobile?
Or..what about those who don't even earn ?
Have you seen countless beggers in developing country begging for money and using whatever they get to fulfill their daily needs ..?
Well then how you can expect those people to use cryptocurrency..or digital money
When They don't even have a clue about it
Neither they have education nor access to Internet.
Implementation of a law where the paper money is banned should only be done if government can provide them with necessary education, mobile, internet for life... And I worry if that can be done...

Rightly said, the last sentence - "Everyone would need to have some type of basic electronic for transacting. Even the homeless."
Obviously, looking at the theory of the survival of the fittest by spenscer - people in the economy without physical fiat would also survived interacting with there environment one way or the other, making use of what is available either by developing technologies maybe not as suffisticated as we have it today or better than we have it too. Hence, which ever way, they would have been surviving.

In time past, there was no paper money but other means of payment like cowries, even trade by barter was even a means to pay for wares or goods, people adapted and survived.

I sure believe life would have been moving on.

I am not going to believe this kind of the statements the bitcoin is safe in the wallet and it is not that easy to hack the wallet the price of the bitcoin is very high and the people who are investing must be very careful about the bitcoin investments.

People who are doing the right with the bitcoin just saving for the long time and just sell at the time of the high price not for the low price.

Having digital currency only may or may not be a big hindrance, depends on what will be the impact in our society, but as we guess that it would really be hard if its only digital currency although it has a lot more of advantage compared to fiats.

Even with physical money, the poor are poor. Now take  that away, how will they be able to survive? You referred to the poorest, now I would assume that they wouldn’t have access to computers or even gadgets. So it would be almost impossible for them to earn if all currencies were made digital. Now that would be quite a bummer!

Everything will be possible if awareness is given to all people of region and economy will be safer for poor without cash money, cash money is confined to the owner and that’s the bad thing that people don’t get benefits from any other but crypto is connected to each other and this makes a community and one can see difference clearly of those countries who use bitcoin and those who don’t.

One cannot change his financial situation unless he want to do so and economy will be far best than now if bitcoin system is implemented in regions the economy will be more stable as compare to the conventional money and bitcoin assure that it will change the financial condition of each and every person and if there will be bitcoin based economy there will be no unemployment,

It’s not impossible that virtual money can be more secure than physical money as long as the user get enough education to use it and also more practical to be kept safely. There is still a long way for it because it requires adequated technology and infrastructure also education to the whole society

you will remain poor no matter what currency you are using and whether it adopts a digital system or still using physical currency, the assets you have are same. hackers will also think of spending their energy to steal less money from poor people.

this will happen in a very long time but maybe it’s not Bitcoin will be the currency because the government will make its competitor and control it for sure. there will be times where both of them will co-exist and become an unbreakable entity and paper money will gradually disappear by itself or deliberately removed by the government.
if we talk about hacker then we don’t have to look so far at future, now even they are often commit crimes, so there won’t be much differences.

I imagined people who sit on the street and asking for money with a table with the number of a wallet and if a passing by person wants to support he just send few money with one click. In cashless society it is going to be something like that. So, poorest people will not stay over the board.

Same as i was thinking! Poorest of the poor currently can already be considered as “cashless” as they dont rely on physical money but on services provided by the government and other private sectors. In the event that physical money is not being used anymore, it wont really be that much difference for the poor people

It will be difficult for the government of any country to achieve 100 percent digital currency in the whole country. The poor people in society will suffer the consequences of this kind of policy if implemented because, they will not be able to have the necessary education on how to make use of digital currency. There are many part of the world that up till now cannot have access to the internet to browse let alone accessing their bank account through the internet.

The digital revolution cannot take place all of a sudden ,the government will encourage digital transaction as much as possible as it leaves a trail and that is what the government wants to know,no country is equipped to be called a fully digital destination and it will take a really long time to get those things implemented but can co exists.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

yes I don't think it is possible to leave the real currency completely because not all people know and understand to do financial transactions or payments using digital currency, may still need to socialize from certain parties about the function and the use of bitcoin

For sure not safe for all people..the poor people..because we all now used of physical money..if that would be implemented people will die of hunger..poor people still be poorer and all will be suffer :( >:(

Lol. Hackers would definitely have use for their skills. And i don't think it will be good even for the middle class sector. Well if we talk about the poorest, i don't think even cash is available, so much less would digital currencies be.

That's actually not good for any economy because the GDP of the economy will be affected very badly when it would be compared to an economy which only uses physical coins. Most of the economists consider crypto as a transfer income which again is not used when national income or GDP is calculated. And poor people will find it really hard to use cryptos as they might have not even used a computer before and they don't such facilities as well.

You are right. In fact, it will make the matters for them worst. How would they even get hold of a digital currency if they dont have any money to buy electronics in the first place? Therefore an economy without physical money is not good for the  poor and without them owning electronics, an economy without physical money is impossible. Crypto will always remain to be a way to pay unless things change.

yes I agree with what you say, there will be many hackers who use their ability to earn money by stealing or anything else that can harm other users, and of course will have a negative impact for lower middle class society, it will be difficult, because to access digital money that requires electronic goods they must have, of course they have to spend some money to buy it, and certainly need internet access to access it, it will make it difficult for the poor especially for the poor

That would be very hard and I think that is the time that poor people will kill themselves.  Think of it.  How they will able to earn money in simple means like a little help or massage or other service.  How they will buy foods if they do not have any fund online.  Maybe, if the government will educate all poor people in using computers and computers will be available for all then it can happen.

Totally right. Think about the situation if it will happen, then if poor people cannot afford to buy electronics, lets just say most of them, then how could they get digitalized currency? Even if they work hard as they could, they cannot get their salary, and the worst case is that they would have steal gadgets in order for them to get money, and one more sad thing is that they would strive to climb and meet the social standard.

This is why it will not going to happen, we need fiat even if we hate it.  The population of the world should be financially and economically on the same level to implement this that the whole world will become free from fiat and only digital currency will rule the world , because the poor will suffer if the whole world money will be digitized. Both fiat and digital currencies have their own importance, so it will be good to keep them both instead of using only one of them.

We still neede to have cash or fiats since bitcoin still needs to improve, it's delays ,mild crashed and other's issue  so it's better too

It can be if it will go mainstream. However, it comes that a person should be knowledge with the use of technology even on the most basic of aspects. However, since you've made mention of the poorest, then there can be a big disadvantage for them, since they don't have close reach with using technology, whether it's by using PC or phone with access to internet.

To be honest, i wouldn't like to see that happen at least in my lifetime. Imagine now someone from government dislikes you for some trivial reason like speaking your mind or opposing somehow what government does. What options would you have? They just cancel you somewhere and you have no option to pay for anything anymore. This is significant advantage of the cash.

Cash is always an important source, because it gives the ease of accessing and another thing is that when a single USD gets circulated the revenue it makes moving through different business platforms is very high. This too is an major reason why governments doesn't show much interest upon cryptocurrency.

I think it is not safe for the poorest without physical money because not all people especially the poor people have an idea about digital currencies so that it will be hard for them to follow and cope up with that kind of change. They can be fooled easily by someone who knew a lot about digital currencies and just steal their money.

A situation where we don't have fiat currency or a system where we operate a cashless economy may make things more difficult for the poor in the societies and i strongly believe that it is the poor and the less privilege that will suffer the consequences that comes with it. They will suffer because it is a known fact that poverty is associated with the level of your education. One thing is to have a cashless economy and another thing is to be able educate the poor people in the society on how the machine will be used including the resource required.

I had the same thoughts. It's not the currency makes the people safe, but the people themselves; on how they control it and hold it. The change starts to people who are willing to change and that change is for the good. We can use bitcoin as a tool to change something but it will not make a difference with itself only.

An economy without a physical money is absolutely not safe and not favorable to the poor as what i have observe this day that even to touch a gadget is hard them to do; how much more to use it? so if they don't know on using it then how can them to access the digital money.. like the beggar on the street i dont think they have a digital wallet for money transfer.

Yeah and besides they make the society also and governments will provide for them and maybe get alittle help from those rich. Maybe with this, they will gradually rise up by the help of bitcoin as they accept it

No matter what type currency governments use there will be always poor people.It is capitalism and noone can change rules of economy. Bitcoin has nothing to do with poverty and high prices only expand gaps between poor and rich.

Exactly, levels of societal class has become natural and we cannot all be the same financially and so i agree with you that every economy can have what we call poor people in it no matter how it is run. Whether they print out fiat or not they populace cannot have the same amount of money. All what the governments can do is to bridge the poverty gab with social interventions.

One thing that I imagine is the world and its technology must be so advanced if all the currencies in this world are digitalized. At least the poorest people has their own wallet to store their money, beggar just sits on the street, put their barcode and asking for some money, criminal will learn cryptography and become a hacker. The point is there's always rich people and poor people no matter what type currency that we use, well but this is not gonna happen at least in 20 years the world is not ready for that.

This crypto currency has nothing to do with poverty because homeless pasilitas is not enough to achieve it. Most crypto users are people whose economic statistics are middle and upper.

Nowadays fiat money is essential worldwide. The people dealing and using crypto currencies around the world represent a minority compared to the general population of earth.
We need to wait and keep supporting BTC and similar digital coins and let others know about this currencies.

Cash is confined to some specific classes and all other are suffering and bitcoin is remedy to this without cash world will be better place to live because everyone’s profit will depend on the other interest and his coins so all will be unite but for implementation of cashless world is very far we will have to live on this currency for more 7 to 8 year then there will be possibility for cashless world.

An economy without physical money for now might not be really safe for the poorest. Though they can just do barter change on which community they belong with, for now most of the poor people doesn't have a good access on the internet. With that, having no good access to the internet can lead them to not having the use of digital currencies like bitcoin. For now, it is of low value for them because this might not be also a familiar thing to some of the people around the world. It will take time. In this present time, this is not a safe idea for them.

Cashless society demands educating the people about the new system, it requires orientation and reorganization. Having a cashless society might be good to imagine, but this would only be beneficial to those who really understand it. They can easily control, manipulate it and circulate because they fully understand how it works. But on the other side, it will be a hatd time and a disadvantage to those poor who are not well educated. Its a good thing to have an advance system, but it is a hard thing to educate the majority specially the poor (which are usually the people who are not aware of system advancement).

I don't think it is fair for them. Because what will they use in buying their needs if there is no money. How can they adopt to a cashless society if they are struggling in their life. How can they buy a gadget to use if they cannot even buy a food to eat.

I think it's likely that the poor will have problems on acquiring the said digital currency because not all people have access to computers. However, it can be done be giving out physical wallets in the form of RFID Cards for free so that everyone can place their currencies their and just tap it to whatever receiver when purchasing products.

We're a long way there but it'll eventually come through.

That'll be hard for the ones that are less fortunate, but I just saw a video somewhere if I'm not mistaken in China there are elderly that looks like begging for money has a laminated ID with the QR code and knocking on windows of every car that stops near them. So I guess the economy would still be the same though or maybe better around a little percentage higher.

Definitely,the poor would face severe problems in handling digital transactions.Most of them still don't even have a credit card or a debit card.They would need a device to carry on such digital transactions.They should also have internet to get access to such actions.Instead,if they have cash in hand,it would be much easier for them to lead their daily life.That's why,such schemes have not been yet implemented in much developed countries like US till now.

I don't think it will be easy for poor people to survive in the atmosphere of digital currency because they already face financial issue and the will not be able to pay extra money for transaction and other digital money related expenses It will also be very hard for poor people to adapt to this big change in money as the have already set up there live in small amount of money.It will also be hard for them to earn this money as most of it will be used by high class and educated peoples and this uneducated poor peoples will face a big problem from than and they will starve to death.

So making a society totally on digital or online money is not possible in current situation but cash and digital money can work side by side and be used by people at the same time for now. Transaction and other digital money related expenses It will also be very hard for poor people to adapt to this big change in money as the have already set up there live in small amount of money.

I don’t think a community without physical money is safe for the poor ones. Not everyone can be able to buy an ordinary Android mobile device, talk-less of buying an Apple iPhone and laptop. So I don’t support the idea of having only digital money, it’s nonsense, only someone stupid and selfish will come up with such an idea.

Having digital money is good if the government take the responsibility of educating each and every citizen of the nation. Also need to ensure the security of the digital money, because the poor keeps hold of little savings and if that too gets hacked he can't have a living.

I think it is very difficult for now to say that physical money is very much important for today economy. Now a day’s physical money is very necessary for the good economy with out fiat or physical money solve many problems of us. When paper money introduced the big problems were solved by this and today we are able to sale and purchase through this paper money.

i can't imagine if this is happened and impossible to makes digital currencies as instead of cash and indeed many conveniences using digital money especially you can do almost every transactions at home even you don't need to go out from your rooms to buy daily needs because if digital money used i think online shop also will available plenty but i don't think this is effective and because digital money price can be manipulated then the consequences is there are some people could control the particular countries

I will say that we already have such a little, because everyone has money on cards, so you have a digital currency, and accordingly we are counting on it, only while it can be cashed. Well, if you can not cash out, what will be the problem is everything will simply develop and each will have 3 cards for each currency and everything, ATMs will only be removed.

possible that this might happen but not entirely as we still need real fiat in some cases especially if we will be dealing from such place where innovation and technology is not yet been embrace, so it wont be secured and safe for more poor people to use this new system as the risk of losing it by a simple mistake
will be occur and it cant be repossess back.

Its a big problem for the poor people if every country use digitalized money. But before they should do that they must consider the awareness of people about cryptocurrencies. And i think it ia very hard to make it possible.

I don't think that it is safe for the poorest to live in a country or world without the physical money because they can't afford the things that they need to have in order to fit in the society like for example, when the country or the world goes online payment and cash based money then it will be hard for the poor to adjust since they can't afford a device to use to fit in.

Honestly, I don't fully understand what you mean.

If people are not quite happy with digital only money, they will certainly use money substitutes when they need to make hand-to-hand transactions. I don't know what it could be, but, as the saying goes, the necessity is the mother of invention, so they will come up with something handy and convenient. On the flip side, though, people on average don't have plenty of savings, therefore there is not much they can be stripped off by hackers or their friends. Anyway, the poorest people are not poorest out of fun.

In above scenario, we need to understand that all the fiat currency in hard-cash and net-currency/digital currency is managed by the banks (federal and other). Having all currency over the digital medium will give these entities more power of price manipulation than ever. One more thing, the carbon footprint to manage this infra structure of digital transactions will be even high side and all people will have to bare its cost.
For poorest people perspective, lack of infrastructure which support digital transaction directly links to great danger and life-death scenario.

conspicuously speaking i don't is safe for the poor to stay without physical money, because not all that have debit card or credit card moreover having access to the internet were they could do their transactions, infact the poor needs physical money for immediate usage. for instance if the poor doesn't have the following requirements that mean they all have die off hunger and frustration. so i advise let there be physical money.

I think it's not good because people who are poor wouldn't have access on cryptocurrency, which means there are no means for them to purchase or get any amount of it. I really think that it's still best to have fiat money even though crpytocurrency is convenient to use.

I have the same sentiment about this topic. I just want to add about the security of these people, unlike wealthy people that can provide themselves more security. How about common people that will use digital currency, they would need devices and this devices will be the target of snatchers, robbers etc.

In this World the economy without physical money is not safe for the poorest, assume only digital money is option first the government of each country has to provide mobiles and to use mobile they need internet and to use internet they need to educate everyone which is not possible so presence of physical money is not avoidable and it is not affordable by the poor people and lot of issues in using the other mode of digital currency. We can keep hope that in next 50 years this present situation can be changed and lot of new things may be implemented by the governments to access cryptocurrencies.

It is looking as impossible but if for example it  happens  then it  will be good for the poor one subject to the country wide awareness campaigns and merging it in the education then poor one will not be affected, So we can hope that it will have good effect even on every categories of people.

Bitcoin is the best currency not only for the rich people but for the poor as well, the bitcoin economy is the other thing for the value and the bitcoin price will get the worldwide importance in very short time. The bitcoin is the best currency to buy and to invest for the long time so no one will be able to know about the user either it is being use by the rich people or the poor.

I think the poor also need preferential policies to ensure their own lives. They also need to use electronic devices, need to participate in the necessary services in life. Especially we need to help them learn and invest in bitcoin to change their lives to become rich.

I think it is safe for the poor to have an electonic currency because it is much safer to carry that the physical currency. Also they need to have such things for them not to be left by the technology. Most of the transactions now a days prefer electronic transaction because it is much economical, hastle free and safe.

Poor people usually don't have means to invest in anything, they are poor and it means just that. They don't have spare money, as simple as it gets. Bitcoin and other cryptocurrencies are used for investment purposes, and for the majority of people in such poor countries like India or almost all of Africa, Bitcoin is of no particular value or importance. On the flip side, though, if some local currency crashes, and here we should think the Zimbabwean dollar, Bitcoin, and even its cheaper and faster competitors like Litecoin or Dogecoin, may be an option for real trade after all.

Majority of poor people lack education, and that will be the reason for the hackers exploitation. Furthermore, that kind of system would only make the rich richer and the poor poorer as the latter have no resources to begin with.

It is safe if the people who are the poorest is at least knowledgeable on using technologies required to run application wallets and websites that hold the digital money and they need to learn the basics of crytocurrencies like its features, the dos and don'ts, bitcoin currency, transaction fees, sending coins to the wallet addresses and its price, they need to know also that cryptocurrency are so volatile so that they are not ignorant and calls it a scam.

There is no denial in this fact that we cannot survive at the moment without paper money. The main reason is crypto currencies are still not mainstream and nobody knows how long it will take them to get realized by the whole world population. Bitcoin is making constant progress in price and fame but still a very little percentage knows about this currency.

There is one more thing that I would like to add here, for using bitcoin one must have some education but mostly poor people can’t read or write.

If we are to play the scenario you just painted to be a global one, I am pretty sure you will understand that even the cards you are talking about is still a challenge.

There are some countries where most of the uneducated people do not even understand what cashless is like and they pretty much depend on it as the only form of payment they know. Are these the kind of people you want to force to get a smart phone, or start making use of the web for transactions?

i think without physical money, we would go back to the barter system again, we should also take a look back on why money was created in the first place, that is, it is payment for exchange of goods and services, and looking back on the barter system, there are still rich people and poor people, i think without physical money, if you set your mind to become poor you will be poor, but if you set you mind to become rich, you will be one. in times like this, if you take away physical money from the poor and just let them use bitcoin, they will be having a hard time since bitcoin's value is volatile, they still need to be educated so they can realize how they can benefit from it. this is like giving bitcoin to homeless man, and even if you give him 10 bitcoins, we will never understand the value, unless been taught on how to benefit from bitcoin and what is bitcoin all about, since what they believe is they need to do odd jobs, in order for them to survive, the same will also be true to a country, if the have a very low financial literacy rate. i think it will depend on the type of economy that will live without physical money, be it a poor economy or not.

An economy without physical money is an anti poor because most of the poor people cant afford to pay the digital and computer education that instead of paying the school for learning they will going to prioritize the food in the table than schooling. If the government want to establish a mandatory paper less transactions they should attend to educating all poor people by providing a free computer education so that all people can adopt the changes.

It doesn't change the fact that there are still poor people in the economy. So what if there is digital currency? as expected that only for those people who can afford, are the ones shifting their assets and their money to digital currency, and how about those who can't? Yes its tragic but that is reality that it doesn't change, unless you will find your way to get out of poverty in a healthy way.

At the end, however it is, the poorest will always end up being at the end of the chain and there is nothing that can really be done. Issues like this will only make them even more poor as adaptation will be extremely hard for them which would obviously be like a stress most especially for the old ones while the young ones may just have to find other means until they are able to adapt if they end up not being denied the infrastructure.

This is precisely why you cannot move all the economy to digital, unless you lift all the poor people from that state then you are always going to need something like cash, only countries that are very rich are going to be able to afford such a thing, however I think that as time passes transactions are going to become more and more digital as people begin to adopt the new technologies and the technology gets cheaper to the point anyone can afford it.

No, you cannot eradicate poverty in the world, even all country move in using digital currency it will still depend to the people how they live and find ways to earn to avoid become poor.

Though a paperless economy will be in existence in the coming years, i don't think it's going to be fair at all, take a look at people with bad credit in the USA, they are barely able to afford some privileges just because of that so should paperless be enforced, they are really going to suffer because most of their transaction is in cash.

Cash indeed has even created more harm than good as it has given so many top people in the place of power to manipulate as they want, control funds as they want, divert the way they like without even working for it. Although, I understand that some poor people who may not have access to even making such money via the electronic means will still end up being at the mercy of those at the top.

Cashless world though may be possible in some places now but apparently not global as we still have some infrastructural challenged countries and going cashless will be close to just killing some people actually.

It indeed will not be fair. Adoption is a very huge thing that most people cannot even afford. It is easy to say going cashless, but do we even understand that before the use of ATMs even got paramount, it was extremely hard for some people ?

Even in some countries, where there are some less privileged people and uneducated people, it is still a huge challenge. I cannot imagine the number of people I have had to help to make use of the ATM especially old folks and then imagine what it would be like going totally cashless and maybe crypto at the mercy of the internet that they cannot even understand while some cannot even afford.

For me an economy without physical money is what we all need. I mean technology is growing every year and some of them don't include the physical money. Like credit cards for example, there's no physical money involved when buying, just the payment. So, physical money is falling behind the growth of technology. Do you agree?

I think it will be very difficult for poor peoples to adapt to this big amount of change as the have no power, money and education. This all things will keep them poor also after the revolution and most of the people will try become evil in digital world. Every hacker in the world will become rich and they will be the best. Most of the people will try to learn hacking  and rob peoples money.

Poor people will die due to this vast change in economy. I will  not be so easy to make whole world digital but one day I think  it will surely become totally digital with digital currency’s flowing every where in the world.

if virtual money will be implemented to all countries before they will do that they should educate people how to do it because not all people in all countries know how to use it and i think that virtual money is safer just being well educate.

With the current situation, not yet, as not all people have access nor even a basic knowledge of how bitcoin work, on how to use it for transactions. Can you imagine giving alms in a form of virtual money? That might also be risky. Even if bitcoin becomes more common, I think that cash will still be around and might still be used for small cost transactions.

No matter if there are or not fiat, if you are poorer than your status will continue to exist. In this situations you don't have valuable assets like diamonds, gold, real estate and so on...i know life it can be cruel but unfortunately there will never be a financial equilibrium between people. Just think that some like to drink, other to play games...and other keep the hard work or they steal...so the fiat doesn't make the difference.

It's kind of like we're moving to a cyberpunk future without the cool parts of cyberpunk, really. If you look around these days almost everyone own a smartphone of some kind, even the poorer folks of society are having more and more alternatives to an iPhone, and much cheaper alternatives that can run as low as $300 and still be an effective phone. A better-implemented "Obamaphone" scenario would further cement this and everyone would have access to this digital banking.

This is the end goal for trying to keep a populace passive, as your account could be frozen at any time from wrongthink or anything along those lines. Not a good scenario, but they also would never have a reason to not do something like that, stating costs or whatever as a reason.

It seems to me that for a poor person it does not matter which day of the week is virtual or real. I think that the problem is in stock, And in the way of management, there will be no problems.

Virtual money is actually very flexible but imagine you are out to buy something with dollars not affecting so physical money is also important. Many parts of the world do not have internet access and are not experienced in the modern world.

The issue with bitcoin is not safety it is accessibility for many poor people it is going to be an issue how to access bitcoin since you need to have access to the internet and a computer and for many people around the world that are only earning a few dollars per day that is not going to be possible that is going to slow bitcoin adoption somehow but as time passes more people are going to be able to get access to bitcoin as computers and the Internet get cheaper.

No.Even for now the poor cannot be safe even if its physical or electronic money.The issue would be can the poor can an access easily to electronic money?That would be the question to ask.

Well for me it is a no, first of all not all of us have a access on technology and most of us are not well civilized specially in a third world country that have a high poverty state most of them are illiterate in using technology and it is hard for them to use digital money and maybe the other people will use their weakness to make some advantage on them secondly the security it is hard for us to use digital money because there is a lot of scammer in our cyber world it was not safe to use it so I prefer more on physical money.

But if the government will eliminate the physical money or the fiat could result on the systematical form of flow of money where bitcoin or the cryptocurreny is just associated with the internet or for people who have the power to surf with through the internet and used bitcoin or any other form of cryptocurreny for transactions, investments and business purposes.

That scenario does not seems very likely in the near future but if that were to happen the difference between the poor and the rich is going to become even greater, the poor are not going to have access to many of the services since they are not going to have a currency to pay for them since you will need computers and access to the internet something that the poorest people in this world do not have, so that scenario will be terrible for a huge part of the world population.

it'll be unfair for the poor if we dont have physical money. they cant afford to have an access to internet or any technologies. the technologies may evolve but the people cant afford to buy a computer

Pood people don't know about digital currency, so it is not safe for them. Cryptocurrency is not going to replace the physical currency in near future.

lets think about how the poorest can access the virtual money without having a good technology? because not all country have good technology to used the virtual money but i think it will be safe for them because they don't have to carrying the physical money to go every where and they only need to carrying the virtual money. beside that, the poorest need some place to used the virtual money and if there is no supporting from the government then they can not use the virtual money.

No. the poorest in the community cannot mange to use the digital currencies for the sake of daily needs. This is because they all need transactions through the wire requiring the internet facility all the time and hence .physical money is a much better option for them when it comes to the buying and selling of goods and doing payments at both the national and international level.

Bitcoin are a safer way of transaction with zero charges potentially only for those who belong to the developed countries.

It does make a great implication specially on those lower tier of society. Most or almost all of the people on this branch don't have gadgets or computers to access bitcoins what more the knowledge to use them. So those on those groups would still be using the traditional way of making deals or buying things they need which is in a means of physical money. If the government would do some intervention and focus on this agenda then this can be possible even for poor people but in a country there were still more important problem to solve than this.

I purely imagine the situatuon if that the economy without using physical money,the rich people will be more rich and the poorest people much morely poor,because mostly country who belong to the third world 85% is illeterate and not know how to use internet,gadget etc because lack of education,so how they get a bitcoin or token even to touch the  monitor screen they dont know,so they die in famine,while those rich people and rich countries only can afford to profit bitcoin or more tokens,because they are educated and knowledgeable in terms of digital currency ,so the world become embalance.this is the effect of the economy without using the physical money.

I don't think it is save because a lot of people could just steal it by hacking it and they don't know what to do. And i think that the poor people right now will be much better treated in the future. Because i think that bitcoin will be used around the whole world.

Physical money is in circulation to service non-cash. The basis of monetary circulation are non-cash money. Emissions occur only non-cash, and money is printed as ancillary. Cryptocurrency is not provided with goods and services, so leaving only it in  circulation is a delusion. Therefore, with the phrase that cash lags behind the growth of technology, do not agree, because it is said incorrectly.

Agreed! This concept of digital currency was purely based on internet and there is no way that you can use it if you are not having some good internet connection as well as laptop or PC. I don’t think so that this is something good for the lower sector of the society.

It is because of the reason that they are not having this much of resources that they actually can afford buying of stuff like that.

The poor people will have a hard time if there will be no physical money to use because they dont have enough or prior knowledge about digital money thats why they cannot cope up with that kind of change in their economy. A country will still need a physical money to use by the lower levels of the society because not all of them can have an access to bitcoin or any digital money.

Hi,

Of course, an entirely virtual economy raise the issue of the physical access to the technologies. So indeed, for poor people (even those leaving in rich countries), this would be a problem.

Though, an entirely virtual money world would not be so jeopardizing I think. Indeed, through systems like the blockchain, it would finally be the end of market manipulations instituted by large corporations for their own benefit.

At inception, money adopted by the government relied on gold. This makes the first exchange rates in history: the more gold you own, the more powerful your money. At that time, money was meant something. Today, even though we can touch our dollar/euro/etc coins, they do not represent any tangible reality.

The amount you have on your bank account is more or less the same as a grade on a sheet of paper. Each month, your wage represents the grade that is given to you by society. And according to your grade, you can either live in a cosy flat in the city center or under a bridge.

That is why I do not worry about your scenario. It will not change the everyday life of most people but may oblige large companies to behave!

The consequences of such economy in poorest pupulation is their is possibility that the poorest pulation may had a wise thingking. They thingking to make these such country be hacked when their knowledge was increase or maybe they can get into danger these such country when it comes into terorism.

If we talk about the poor people then obviously the use of physical money is much better option than the cryptocurrencies. This is because they lack the basic knowledge required to enter this field and have no access to the facilities like all day ling internet connection and constant electricity supply because of poor living conditions. So in this regard, the Btcs or other virtual assets are only to be used by the people who have and sort of relation directly with the developed country.

Not at all, economy without physical money is not safe for the poor, a poor man or woman has no access to internet or others online transaction, a poor have no idea of E commerce,  whatsoever, any cashless policy put in place by government is an attempt to frustrate  poor in the society.

I agree with you. It is not safe for poor people without physical money because they cannot afford to buy things just to connect with the internet and sometimes they have no knowledge of accessing the internet without anybody's help and it could be risky for them. They would rather choose to use their money to buy basic needs like foods and clothing than buying things that will not ease their hunger. So I think it is not safe for them.

It is something that nobody ever takes into consideration. I think it's great that you have brought it up. If all currency is digitized you would think that the government would have to provide access to that money to the poorest. However, considering that there are people in this world that starve to death every day, and their governments are doing very little to nothing to help them (because trust me there are countries where the government just doesn't give a shit), it is hard to think that they would provide them access to crypto-money.

Digital means they need internet to operated so it's difficult for people who have not internet knowledge.
But in other side, everything will be gone faster and fully automated which make people's transaction got easier and faster !

Learning how to use an internet is same on learning how to use spoon and fork and that is how simple is learning on using internet. I think that people can easily adjust themselves to learn and get used to the internet and that is why i really believed that in the future, digital things will be more popular than physical things like shops, currencies and many more.

I would say that in having an electronic currency (such as Bitcoin) to any kinds of people (such as rich and poor) is possible. Bitcoin is also safe in the way that you will secure you account. Hackers are everywhere but we can prevent our account from being hacked if we are thinking before we click some links/sites that our accounts be involved. Indeed, An economy without physical money is safe from the poorest. It is safe if you will secure your account and be aware of what you are doing here in cyber world.

I think yes but not advisable since poor people have other priorities to be given than internet accessibilities and cryptocurrencies. They should be given proper education first and a opportunity to earn so that if ever the economy adapts vitual money they wouldn't been vulnerable to attacks and threats like hacking and scams.

it can literally be a chaos. but this chaos can turn somebody into cash. there are a number of people who will provide the circulation for the poor.
I think that the poor will be included in that system in the face of some other things.
but the betting time is a minimum of 20 years.

Poorest will not safe by then,because they dont have access to internet,if may have limited and same thing as theyre tools.the poorest will always need physical money.so lets not take the physical for money for tham..let the poorest be educated by these system

yes it's like a bitcoin here you do not have money to spend on helping to learn what you just need to do and if you really want to earn a bitcoin here you just need to focus on it.

I don't think so for the poorest since they will need to purchase an electronice device to hold their money somehow. But you wouldn't want to have a hacker as your friend  ;D

If cash did not existed anymore this will create a great divide between the people that have money and those that do not, those people will be unable to access even the most basics of services that will in effect create two societies and as we know that is never good for the long term well being of a country so I do not think we are going to see the elimination of cash anytime soon.

No its not, majority of the poor in the country for example, doesn't have the access of internet or the technology. If the economy rely on the technology it will be unfair for the others and use the electronic money instead of the physical money. Let's think about people.

The poorest of the poor will be left behind. They will have a hard time transacting using modern technology because they can not simply afford it.

Yeah! Actually if physical money removed at once I think those poor people will going to have difficulties when it comes in about using bitcoin since they have do it with internet and electronic well I think they can't do it. So, better to do it step by step.

If it does happen in the future, I'm sure the "poorest" would've already figured something out on how to get money through digital currency. It won't happen overnight so they will adjust to that kind of situation for sure.

this is what we want in the future to make paper money or physical money to reduce and develop the digital currency, it looks like if the paper money is not there anymore and all the digital will simplify all existing transactions.

This is an obstacle or challenge for the digital currency to reach all levels of society in the world. because it can be assured that the poor can not reach or have digital currency, because they have no media to access it. Therefore, I think physical money is still needed and will always coexist with digital money.

Well this sentiment has been running in my mind few weeks ago. There are so many ways bitcoin can help a country's poor economy. And I think before bitcoin be he future currency of the world, everything has been atleast lay down well like even poor countries have good internet and each person has a device to use bitcoin.Through bitcoin, it can help a country to have a standard currency with other rich countries world wide.

This would be very hard for a 3rd world country. Not eveyone can afford electronics to be online all the time. So cash or physical money is important. Money is safe in the bank so much more if its virual but we have to ve carefull with hackers around. For the poor people they can relate with crypto currency because not everyone can afford a gadget just to be online. And wifi is not centralized.  Not even everyone has a bank account. They need a physical money otherwise it would be very very hard for then.

Yes off course it’s safe not only for poor people but also for rich peoples and bitcoin don’t make any difference in its users it going to deal same with all it's users and rich people are also investing here because there is procedure to keep save bitcoin you will have your id and password to use it so nothing can happen to your bitcoins in this time duration we did not see any complaint about bitcoin safety its mean it’s safe for everyone.

THat is what i was saying in all the discussions saying that cryptocurrency can usurp the physical or paper koney. as for me the people would always look for the security and the convenience that the paper money can offer that digital cannot

I think it would be unfair for the poor people if there would be no definite cash in hand to be used by them because it will be hard for them to manage money from the internet because not everyone could handle money and not everyone have internet

It's hard to imagine anything like that either, and it's very likely that few people would be easy targets for attacks and robberies. But this would open a very large door for import and export, it would be much easier to buy a product in a foreign country for example, because you could make payments in just a few clicks, not to mention that the risk of losing your money would be minimized because all or else almost all would have a backup of their wallet in a safe place.

.                    It is not a good idea  when theres no physical money for the poorest. This is just  the only  way that they can live easily. If theres no physically  money, how  they can Survive. If they Will just depend ON digital currency, wherein we need all the gadgets to just to update all your assets in Bitcoin I think they could  not easily adopt the situation because they dont  even able to invest to it. Mining maybe the best for them. But it takes time  to earn Bitcoin.

For the poorest people it will be unacceptable. They must have cash. Then they know they have money. The same seems to be unacceptable in countries with low education.

An economy without physical money is n safe for the poorest, and you’re even killing them, cause they won’t be able to make use of electronic money.They don’t have any means to access the internet; they have no mobile phone, no smart device or computer, so you’re making it difficult for them, not just difficult, you’re killing them.

Physical money is very valuable to the poor or needy. Because physical money is important and the means of payment are valid. If cash had to be released and replaced with digital money, surely they would find it hard to survive and become very hungry because they simply do not understand the internet and they the majority do not have smart phones or sophisticated computers. The poor will be poorer. I think the government does not want that to happen

Having a piece of paper as a monetary unit did not save people from poverty for all these years... A digital, but centralized token would not make much difference either.

What would make a difference is how much these people have control over their own money, and which mechanisms they have to protect their currency against inflation.

the poor will suffer the most and will meet with difficulties. can they adjust? possible no. some/more/most of the poor can't even eat three times a day, don't even have a house to live and even some live in the street and government can't sufficiently help them. i also thinking about people taking advantage of them like scamming them because we know some/more of the poor don't have educational achievement.

If that happens everyone has no choice rather to accept the reality.
Systems will be same as fiat money but in higher level.
I'm sure the poor will find ways to survive.

I think it would be very hard for poor citizens to live and have an economy without physical money. There are people who didn't attain enough education to have the knowledge about cryptocurrency. Even beggars won't survive without physical money. They won't even have the ability and knowlege in accessing the internet.

if that is the case, I do not think it will be that fast and there will certainly be a big step forward to overcome the various problems or risks that will be faced because after all, all countries in this world will greatly uphold their citizens in order to have a decent welfare life.

Well in my opinion, it can happen in the future, but not for now.
First because not all people have access to electronic and internet gadget, it will make more gap for the poor and the rich.
Second, if we want to make it real, i guess we need an identical, invulnerable, and simple gadget/tools/equipment to store our money, so there will be no different for the poor and the rich (different only in the amount of money) and everyone will feel safe.
Third, the security system (like police or others) must have a technology to track the money that is lost because of some hacking or scamming action without trespassing the privacy of the money holder.

if you imagine that the world will refuse money, it will mean that we will return to the days of the Tripoli. then all people exchanged the goods that they produced. It's only nowadays that this is unreal. How will the purchase and exchange be made?

Unfortunately, poor countries can not afford a stable Internet and provide all those in need with electronic devices for using digital currencies. There must be an alternative, at least in the form of bank cards.

Well on that circumstances only rich people can get some of it if all over the world will use decentralize money instead of physical money. Just imagine how poor people can gain decentralized currency , perhaps when that times happen there will be fury which is poorest people against rich people .or there will be a world war for sure.  Haha

I think digital currency is more favorable for the rich rather the poor, because the rich has always has this access to digital money because they have much money to keep it through it, they don't have to carry a lot of cash to carry on their wallet or bags, while the poor needs to have it, they need cash if it is a single centavo, how can they be able to transact through digital money it is not safe for the poor

I do not think so because economy without physical money suggesting that all the people need to have a mobile device because that us where it can easily be transferred to others and to hold it as a wallet but what happens to the poor? They need to buy that in order to buy things that they need and so the mobile phones will now be a basic needs because you cannot buy food without it because physical money dont exist anymore think about it. There are a lot pf people who will oppose it because it is hard for them to cope up.

If all the economies of the world starts using digital money instead of physical money all of a sudden, many people get suffered. Poor people will be the first persons got hit by this digitalisation. Physical money is the most popular currency of the world. All national have their own fiat currency. Physical money is east to transact, easy to operate, transfer or exchange. All class of society can use it without any barrier. on the other hand digital money needs some basic set up such as mobile or pc, mobile wallet, internet connection etc. This is not possible for all the class of society. Due to this its use get restricted.

I think it is not safe for the poorest since transacting bitcoins and cryptos need a device that is a bit expensive for the poor and even very expensive for the poorest. Does they need to buy computer, smart phone, and an internet connection so that they can buy food to eat? This is one of the reality that might happen in a cashless society and i hope this drawback will be resolved before we can have this so called cashless community.

How to progress the economy or society if no physical money, because now a days money is very important. And everything is so expensive and how to experience the better life if no physical money.

I don't think an economy without physical money safe for the poorest since a cashless community needs educated and well informed citizens which is quite difficult especially for the poorest who lives in remote area of the society. Those who belongs to the poorest cannot afford to buy gadgets and not even familiar with the latest update of the technology. I'm not saying it's impossible to happen but surely it will take decades of implementation.

The worst part is that the poor people in the society won’t be able to make use of it, cause they don’t have any access to the internet. Digital currency or electronic money is not something that can be used without internet and devices. So a world without cash is real bad.

The very poor do need physical money because the banking system does not allow them to have things that the rest of us give for granted. Namely, a bank account, access to the internet, a debit or credit card, etc... If you have at least access to a data phone and internet then depending on the country crypto may be better than fiat.

Yeah its true, this might end up buying themselves low quality devices just to transact. I really dislike the idea of eliminating local currency because it is much cheaper and faster in a small scaled businesses such as meat shop. I think local currency and crypto currency can interact with each other in an economy and if this happens it will result to a healthy economic status.

actually in this case very difficult to imagine.! if this country removes the real currency it is a big mistake because if the government removes the real currency, it will have a big effect for the poor because they can not afford to buy digital goods (hendpon android / computer) there will be riot "big demonstration" this digital currency can only be used for the society can afford it.

It would highly depend on other prerequisites. For example, what form of non-physical money would come after the cancellation of physical? The economy to support such change would need to guarantee that even the poorest could afford the gateway to electronic payments because otherwise payments would become less direct for them even than owning a bank account.

If according to ekanomi without physical money is safe for the poor, it is not safe because the poor are in need of physical money economy.

The poor barely save their money at the banks because they can't even afford the charges that the banks even require and they are always using their physical cash. Not everyone has access to the internet which is common to a lot of people in Europe and America.

If you are rich person you have a huge advantage in making money thru this crypto since ordinary person don't bother to explore in the internet they were just focus on their daily job and wanted to have  a promotion because they know that when they were promoted their life will change which is not true, they are even loosing the other opportunities.

This is a definite thing. When people are poor they even don’t have food to eat for a day then how the whole is just thinking that they will be using cards to get food. They will be using these transition method as a payment method for everything they just buy. Definitely this is so hard to happen. So better for them is physical money, yes they have chance to earn money from this digital money.

It seems to me that this theory is simply ridiculous, because how can you talk about food for a poor person and about the fact that this poor person can earn a crypto currency. How will he do this? What opportunities does he have and can he have access even to the Internet? There are a lot of questions here that are not so easy to get an answer ..

It only have the same scenario. Money doesn't give effect to the the status of a person either physical or digital, it only matters to person how they work hard to improved their living. Everyone have chances to grow, if they really want to move and find a better way.

Wealth is transferable no matter the form in which it might be presented. So, I don't think wealth being in the digital form should be a limitation why the poor can't have it. Physical money is good and at the moment it is still indispensable until when the future comes and then cash is somehow then pushed aside. For now, the use of physical cash cuts across both rich and poor, so also when the digital cash comes to full use, it will cut across them both.

You could still give a beggar a paper wallet which he can then go and redeem for a bit of food

I think it's relative, not everyone poor or poorest fails to understand, many of them are smart with various things, so too with this digital currency. money is just a tool, just know how to use it. poor is a pressure in the economy, because many rich people are trapped in poverty. because the world is spinning all can happen without us predict moreover we are not careful and unwise in making decisions, it will make us regret.

It would pose a great deal of problem to the poorest of the poor and the uneducated. Both can co-exist but none can eliminate the other.

the old people would not be able even to purchase their medicine cuz it took ages for them to get familiar with even atm`s, I can`t imagine how long it would take for digital money

I don't think that it would be a good thing for the poorest or the lowest kind of people in the society,
Just imagine it like bitcoin there would be a transaction fee for everything and look at the transaction fee in bitcoin it is too high for those who are just earning a small amount.

in this situation it is hard to believe that money now is involved or influence or is it now a digital currency, i see that poor people can't afford or they don't know what is the world doing now because of this digitalized currency.

if every people could earn some amount in one job and he can buy something with that non-physical money then I think it will good but it will not safe for the poorest because he could not buy something if he doesn't have fiat or non-physical money. we still need fiat for buying something in our real life for now, but if in the future, every product has an option payment that we could use then we can use both fiat and non-physical money.

an economy without money is big advantages for those who has a lot of money or rich people. When you are in the lower bracket of community, you won't like things going paperless or via credit because it will only give you problem when its time to pay your bill. Average people prefer cash rather than paperless.

If the security level on storage can be guaranteed, I'm sure it will be safe. Precisely it can make investment can not be seen. Like for example investing in this bitcoin.

No i dont think so, the poorest of the poor would be left behind. Many things to consider, the means to transact with cryptos (gadgets, internet provider etc) will be very hard for them since they can not simply afford it. Fees from transactions will be collected, imagine if they will buy a kilo of rice, maybe the fee will be much higher than the price of the commodity.

I'm not the first time trying to bring this information to those users who I just want to see Bitcoin as a means of payment. I also completely agree with you, because for a simple person this will be unacceptable and not practical.

This may just pave the way for poverty to spread even more than it is today. Not all people have access to the internet. If that will be the case, crime rate may also increase. This scenario will prove to be more of regression rather than progression.

For me as of this time its not yet safe even good for the poor people, there are still a lot of adjustments that must be made in order for all the people to have a better understanding of living without physical money. Technology and advancement might bring prosperity but there are a lot of factors which we need to also consider like the great number of people or population who doesn’t have access to other financial means. Lack of knowledge of the devices to be used is also a factor. So I can safely say to this time of age its not yet safe to remove physical money but maybe in the future  we can.

The knowledge of poor people would really be the problem here which such transition from physical to digital currency would really be hard and there are lots of things to be considered first before tending on doing such changes but I do believe this thing wont really happen because there are lots of things would be mainly affected if they do decide to implement this new way or new system when it comes to money.

Wealth is wealth, no matter if it is digital or physical.
It is more the question how much does it cost to participate at the form of wealth.
A bank account for example is not for free if you have no regular income. At this point already the door for poor people can close because they can't afford a bank account.
Access to crypto currencies and cash is free in most cases.

When that happens, the government must take action to regulate it. Because otherwise the global economic collapse can be easily controled by someone from a distance, and this is more dangerous than a terrorist threat.

There are pros and cons of everything and every new innovation especially in the field of economy. It feels like using bitcoin and other digital currencies is a fun and profitable as well but there is just one threat to the economist and that is valid as well. If we go out of internet even for one single day, we are going to face billion dollars loss provided there is no traces of cash or paper money in the society.

Thats true. I cant imagine myself living in a place that forgetting your phone at home will be the most stupid thing you can ever do cause in phone your account is their and the money that you have saved from the prior jobs that you have been through will be nonsence cause you cannot be able to eat and buy without it.

I think that this is a little bit funny sounds, the fact that even bums must have electronic devices to use кpиптoвaлютoй. probably many of those who says пaкyю nonsense, were not in such a situation where нeзaчтo even bread to buy. I do not talking about phones and tablets.

then I'm thinking how could those beggars beg for digital money they give you there touchscreen phone and tell you can you transfer me a little  those poor who buying a half kilo of rice fish veg and meat   they obligates to buy a good smart phone before they can buy in the market  how about those no read no write people can they even understand this even they don't step in elementary schools I have watch a lot of documentary there's still a lot of person in our country suffering cause they  don't even have a source of water they have to dig the soil a whole day a land of luck of food  they eat even the poisonous fish pushing there luck just to fiil there empty tummy  how can the government teach them to use digital wallet

We are still far from that moment because we are still in the beta mode of experiencing in using of digital money and that means that the world needs more time and also cooperation of the people in this test on the cryptocurrencies and once they saw that the effect of using digital money is great then they will just remove the physical money because it will bring more positive things like being more convenient because you don't need to bring a lot of cards and a wallet because you just need a phone.

As long as there are publications from various media including the government then everything is not a problem, of course digital money or non physical money also works the same as physical money so I think without physical money then everyone including the poor can still perform activities and transactions.

I think no, i think that it is not safe for them especially those you are in need those who are in the lower side of the economy. Because how can they access the digital money if they do not have any digital devices that can access it. So it us really hard for them to cope up with the new generations. They are getting problem on how they are gonna get theur fopd to eat hpw much more pn affording some devices that can store the money. They cannot go up if we keep on moving.

Not at all, Without regulation no currency wouldn't be suitable for any country, in this case, Physical money is the vital platform for the population because they want to transact with a stable currency otherwise they must face a lot of problems.
But your proposal is really interesting, If every currency will be a digital currency then it might be the user-friendly system. If this thing would happen, then we will become entirely dependent on the internet system.

No, non physical money requires at least a supportive device to make transactions, most poor people do not have these devices, so not everyone can use virtual currency

It would certainly be hard for them but they will adapt. That's how the world is. If you don't adapt to the latest changes, it will become harder for you to live. And money is the basic need of everyone. Their priorities will change.

This is a complete drawback of all the coins and upcomming coins in the market , they all require a connection to internet , a decent phone and a basic knowledge on how to send money to others
These issues will be a huge barrier if ever it is decided to adopt currency as token

Ofcourse it will be harmful for poor because they then couldn't beg for money on road, or  secure them as we can

We are already close to an economy like that, most of the money around the world exist as numbers in a computer and yet you see that most people still use cash for many transactions so both systems can exist and must exist as long as the internet and smartphones do not become so cheap that every single person in a country has one, until that day cash will still be around.

No, not particularly, the hackers won´t give you anything nor, if they are really hackers, tell you at all about it. The poor will continue being poor and the rich will make sure of that.

Sometimes it is safe in other factor and sometime it is not safe. Using digital money can avoid theft and robbery in a country but using digital money also can enhance corruption and theft in which other perpetrator has the capability to stole your money online. If we used digital money, many poor people cannot adopt with it since it requires computer and other gadgets and internet to transact, and this digital money is not applicable to poor people.

It will be not secure for any poor because it needs an internet connection for its operation which the poor doesn't have

I don't think people in the same place care about digital encrypted money!

Because they don't understand digital encryption, they don't invest in digital encryption.

I don't know why money being digital would make it any worse for the poorer people. As long as they have inclusion in the system, the amount of money you have doesn't matter.


That is beginning to change, most people now have a cell phone and an internet connection nowadays.

the consequences will be that some people won't have access to internet , so they have no way to acquire coins. or even if they have access to internet and a computer , what if that computer crashes and they can't afford a new one , they will not be able to spend money. there are a lot of hurdles to get over to see such a economy become reality.

safe or not is depend on how society system work, if the poor have the access to the digital media, let's say provide by government, it would be safer than physical money, not to say that it will also give quite freedom for everybody to move and don't have to worry about where to put money, but actually nowadays we don't really use physical money anymore in practical meaning because it is more convenient.

Well, it will be complicated I think. The reason for that would be the accessibility of online currency through the internet. If the poorest people do not have ways to access the internet such as computers, laptops or smart phones, then it would be impossible for them to access those coins.

Most of today's transactions prefer electronic transactions because it is much more economical, free and safe hastle because I think it's safe for the poor to have an electonic currency rather than bringing in physical currency and also they need to have things like that so as not to be abandoned by technology .

It would be hard for the poor then live without physical money to use with, how can they be able to buy their food or the things they need with the little amount of money that they have and if all become digital then how can they put up with that, they're not familiar with and also they will to go to an automatic machine or internet just to have some basic needs they have.This is so frustrating to them and lots of fuss.

I am not sure about this because the safety factor is felt by individuals and it cannot be saying without feeling. and I think maybe it will safe for the poorest because they don't have to take the physical money to everywhere and we can feel safe. and it maybe reduces the criminal too because today there are many criminals that are happening in out there.

the whole world has turned to a global village which made it possible for both the developed and the developing countries and even the under developed countries to transact with their economy even without the physical money. so the poor countries can still survive without physical money in their economy.

I cannot say that it is good, but I cannot say that it is bad either. In my opinion, I guess the physical money will always be used by many people because not all humans can use digital money or have the access for it. But I believe that a lot of people in the village will survive and the physical money will always exist. In the other hand, I think digital money and cashless system can work with the people in a big city. But there is one thing that bugs me, what happen with those people who are poor but live in a big city. What if they cannot use the digital money like cryptocurrency ? I hope they will be fine and find away to face that.

I am not an economist but in my point of view, economy of a country will be booming when the time that it will implement digital currency to the fullest. By that time also, i think there will be no more person that will be considered poor and all citizens of a country can gain access to digital currency. I think it is not happening in the near future because there a lot of things to be done for this digital currency to be implemented.

These are harmful not only for poor but also for rich because they can interconvert between them in moments

Money is survival, so the poor will adapt. It might stop people from begging in the streets.

I think that is what the OP is pointing out, the possibility of the less favoured not being able to be included in the system and become even less "favoured" by the system.

This is a really interesting topic. Making all currency digital has its advantages and disadvantages.
If a country adopts digital currency, its a sign that it has a good economy. Another advantage is that petty stealing will be a thing of the past as only the individual has access to his wallet and there are safe private keys. This is can only happen in developed countries where everybody have access to the Internet.
This cannot be implemented in under-developed or developing countries because not everyone have access to the internet and this is a major disadvantage of digital currency as there will be no means of transaction for the poor that lack access to the internet.
I believe if a country can provide internet services for all its citizens, digital currency is a very good initiative.

Are you serious even before judging threat to poors we should first spread awareness vastly for promotion of btcs

No it is not like this but I think it is opposite as it is good and profitable not only for poor but for rich as well. If rich people will use bitcoin they will be able to have savings with bitcoin they will be able to have saved money for the long time, but if we talk about poor’s they will be able to have some way to get money and to use it they will be able to spend and earn bitcoin at the same time, right now they cannot create money using physical money without investing it but with bitcoin they will be able to earn it and to use at so it is beneficial but not harmful.

Billions of people do not have access to water do you think people like that are going to have computers, smartphones and the electricity and internet to run them, if you can access this forum then the truth is that no matter how difficult your situation in your life you are better than hundreds of millions of people, so it is going to take a lot of time before all the economy becomes digital.

Digital currency can bring a good change in the economy since most of the person are earning with bitcoin so why not consider it as a challenge to the poorest to earn as well.  It will be a great help for all of us.

Bitcoin will not harm anyone. Even the poorest can live a better life because of bitcoin. So i guess,  bitcoin is safe to the poorest, it will serve as their opportunity to earn too.

As it is quoted the inclusion of every party to this system will neither bring more nor it would make the situation worse(spread the poorness ,in a bigger time frame).
And to respond to your question(accounting the time from the start till the fully implementation of the  system) : is this particular economy safer for poorer people? i am going to go with a yes, cuz people with less money tend to lose more slash what they earn or have, so if they are partially unable to reach those virtual numbers, they will be partially unable to spend or lose those numbers . Although with the pass of time everything should and will go to balance. The balance is where your average poor neighbor will find its way to spend and/or lose virtual money with means that will will surpass his/her knowledge. (fraud included)

I think this would a problem especially from the lowest sector or the poorer people. Not all of us are knowledgeable when it comes to the things of the digital age or what we call as gadgets. This would become a disadvantage to those who stll doesn't learn about this kind of things and probably will become ground for abuse on them since they don't know even the basic.

That never supports the growth of the poorest, and people who have got skills to some extent and trying to make themselves show high belonging to middle class families were gonna use it more. Whether it is poor or rich, self interest and the trust gives profit.

Therefore for the current era where technology and the Internet has not been too mainstream and used of course without physical money cannot be implemented at this time, there are still many poor people who have not been able to mind and ability to operate and use digital currency. this idea still takes a very long time to be able implemented

I'm not sure, as we know that most poor people can not read much less use the internet, they will be confused because they have to deal with something they do not understand, and certainly this is dangerous because it can make them gullible.

On the off chance that we discuss the needy individuals then clearly the utilization of physical cash is greatly improved choice than the digital currencies. This is on the grounds that they do not have the essential information required to enter this field and have no entrance to the offices like throughout the day ling web association and consistent power supply as a result of poor living conditions. So in such manner, the Btcs or other virtual resources are just to be utilized by the general population who have and kind of connection specifically with the created nation.

Can poor people use other than physical money like digital money, crypto's, they are not able to use because they might not able to  spend for purchasing mobiles and computers so for them it's is not possible, but the economy without physical money is definitely useful for the poorest.

Its a bad news for the poor without physical money because if digital money will be legalized and it's the currency we will be using in the future it's hard for them to used it especially without internet and unless the country will be covered with free internet.

and if digital money legalized, I think the government will give a solution for every people so they could use the money too and I think the government will think about the security for the poorest so they can also use. and I think they can try to use the bitcoin if they have been teaching by other people so they don't have any problem with this. I think the government will give something to them and makes them to access bitcoin with easy.

It isn't just bad or worst it will never work and won't go well with the poor. Access and availability with digital
currency alone is crucial issue with the poor that has to be taken into consideration. Maybe a country
with an economy that charitably provides the technology and access to the poor by mandate or thru
decree, has that prevailing prospect and chance of running and governing a functional economic system
without the use of physical money. In reality, it's a good option but it's just way too complicated for now.

I think there will be no economy that does not have physical money. It is because not all people have an idea about bitcoin and also not all people know how to earn and use it. An economy without physical money is not safe for the poorest because they will easily be fooled by some scammers.

For me, an economy without physical money is not safe for the poorest people in a society, maybe at first. But there are of course a solution to every problem. And it will just a matter of time where the solution for the problem will be designed and implemented.

What do you mean the economy without physical money would be saf to the poor? I am thinking about the concept of your argument and base on my perception more likey that youre going to convey on those homeless people that could not even afford the basic needs for themselves. So without physical these people may hardened their struggle in their living since some of them are just begging down the streets and specifically the only that we could give conveniently is the physical money. I hope that if some members here who gain a lot out of investing bitcoin would organize a group to help those homeless people around the world.

I personally think this wouldn't liquidate for the next couple of years; the reason for this is because as far as from my experience and the country I am living at, there are still a huge percentage of population whom are very technologically disadvantaged. A lot of my fellow countrymen are still living a very very basic means of living. I think it wouldn't be fair for them to make stuff they need to survive to be traded using bitcoin or another form of cryptocurrency.

I don't think that economy without physical money would be safe and it would be prone to hacking. I think poor people and not well educated would be more affected. A lot of technological innovation is required to make economy without physical money.

Today being a poor is a choice, actually. Especially in developed countries. So nothing changes for the poor when cryptocurrencies conquer the world. The poor will stay poor 'cause they want to.

No, there are some poor people that take bad decisions and that is why they are poor that was a decision but there are those that are really poor that never really had a chance, so we cannot blame them for the fact they are poor, after all how can you blame a poor person of not making a lot of money when in his town there is not even a school, I believe in capitalism but to deny that many people never had a chance is to be blind to the circumstances of those people.

Yes that is more risky if we do not have any real money or investment and we have converted our money into online currencies only, i think it may be more problametic for the poor people who do not have enough education and they do not even know how to use computer and internet, In fact it will take a lot of time when all the people of the world will become too much educated to use computer and internet.

For me, an economy without physical money is not safe for the poor. Yes, most of them say that it will be a great idea, but you are a poor person in the third world countries most of the people don’t have a cell phone or computer to use their digital currency or to check their money. Also, it will be difficult to use some digital currency if you are poor, most of the poor in the third world country don’t have a chance to study and gain some information about the new technology.  :)

It will definitely not be save for the poor. Note majority of the poor people live in remote areas and  have no access to  power supply  neither can they afford computer nor smartphone to use in accessing their money via electron.

at first poor people has ignorance about it but if there is a proper training how to use it, if that happen government should provide the proper training how to use the modern currency. We all can make it. I believe even poor people have knowledge and intelligent in terms of money.

Economy without physical money is not safe for the poorest people because for the digital currency we need a gadget so to access digital currency and to do transactions and it is not easy to poor people to manage and buy such gadget through which they can access the digital currency world.
Even proper education is also required to use such currency and there is a huge number of people in the world who doesn't have a proper education.

At this very present moment, using of only digital currency will not be a good idea as there is 99% of the population who don’t know anything about this newly introduced currency. All they know is that there is only one form of money and that is paper money or physical money. Until and unless this figure will not change, I don’t really thing so that think idea of having a crypto currency only will work.

If you are poor but know how to use the cashless crypto currency, then there is no problem because today everyone who knows and can get profit from the computer has it. Otherwise we see there are a lot of rich people who have no idea how to use the computer. In poor societies, if someone has the cash then he is very much vulnerable to the robbery. Also getting cashless is must for the poor people because it will give them the superiority of not showing anything off and getting rid of the robbery or theft.

I don’t think it is safe for the poor. Why I’m saying this is because these people don’t live a life like we do and they don’t even have the things we have. If physical money is to be removed, then they will suffer till hunger sends them to early grave. We’ll start to make use of devices in order to access and control what we have, and the poor can’t avoid it.

nah,this community dont require proper education to use,this only needs knowledgeable idea to pursue a career in cryptocurrency..though i agree with you saying its harder for the poor to buy gadget,coz if they have small amount foods and first commodities will be at they priorities than buying a cellphone or any computer gadgets

Well its not even about the education to use it since exposure to it would eventually make people learn. The problem is that when you're poor, you'll have limited access to prettt much anything. You're right that the extremely poor won't have anything with them to access it. They don't even have the means to get fiat, much less cryptocurrencies

Indeed, this will build a taller fence between rich and less fortunate person ,this will be under the human rights and I think they will never prioritize to adapt innovations cause surviving for the day , the expenses and buying better gadget and acquiring high quality Internet connection will not be in their priority , thats why they were called less fortunate the things that they can have were limited and absence of Physical money will degrade them more.

Physical money can be lost as well as the digital currency can be stolen by the hackers.As the technology-based world progresses,the unproductive literacy is increasing.Those who find helpless human weakness wait for damages.So I think that it's safe for the poor only when they're well educated.

With that kind of situation where everything is now digitalized I think it is safe to say that even the poor has access to the virtual currency. We need to run in the assumption that the government have applied certain measures where everyone has access to the currency. And have you seen our current situation lately? Cell Phones/ Smartphones can be both for as low as 10$, prepaid internet is cheap that even the poor can access it now. But looking at it why make our currency digital? Is there a big benefit for our country to move into a digital world? Do you think it would be beneficial to all class levels?

Even we are in a digital world. There are still a lot of people who don't know how to use gadget and the internet. Specially the poor and uneducated people. So it will never be safe for them if we live in an economy without physical money.

An economy without physical money is not and can not be save for the poor. Majority  of the poor people reside in the rural area where there is no electricity, lack internet and can not afford computer or smartphone

I believe it isn't a workable idea. Consider a person who is going eat in a restaurant. Brownout occured and internet connection is lost. How can the the person who is very hungry be able to order food without the internet? And what if the price of the digital currency suddenly dumps very low? Will the person still be able to pay the amount or will the restaurant have to increase or decrease the price of their product just to avoid loses?

Which is why I think the physical money is going to be around for much longer than people think there are people that are so poor that have barely enough toeat so they are not going to be able to get the technology necessary to use that type of money maybe in some first world countries which are very rich and that have a very low index of poverty will be possible to do that but most countries will be unable to do so, so physical money is going to be around at least for the time being.

More sophisticated stealing will take over petty stealing. And not so sophisticated, like a criminal bashing you over the head, then forcing you to send them your money after you break up. Assuming we're talking about Crypto and not a bank account where the criminal could be traced.

I think this is a worrying scenario, where everyone has to have basic electronics to make transactions, can be imagined for a third country whose majority of the population is below the poverty line that would have difficulty accessing that point. I think it takes time to relocate all that. For now the physical money is still in need.

For me,it will be hard for the government of any country to implement digital currency. The poor people will suffer the consequences of it if applied because they don’t have proper knowledge on how to use it. poorest of the poor people won’t use it, beacause they will think that it is not sucure to use. Even others people already adopts and using digital currency.

Yes it maybe safe but others cannot afford and used advance technology like cryptocurrency. Maybe when we teach or gave them, this can make the economy dependent in physical money. But this will not conclude that fiat money will be replace by digital currency as it is only intend for payment system.

If ever we do move to a more digital future where everything is in the internets then yes, the poor will have a hard time getting ahead with the times. But one thing is for sure. They are survivalists and they will do everything in their power to learn how the world works when it comes to that.

There are many benefits to removing cash from the economy, such as eliminating black markets and allowing more easy monetary policy. But there are also concerns when every single transaction can be monitored, examined, or manipulated. Regardless of where you fall, though, one thing is clear.As online shopping becomes yet more prevalent, and prepaid credit cards take the place of more and more low-value cash transactions, cash is well on its way to becoming obsolete. And thinking that way its not totally safe not just for the poorest but also to all.

For me, an economy without physical money is not safe for the poorest people in a society, maybe at first. But there are of course a solution to every problem. And it will just a matter of time where the solution for the problem will be designed and implemented.

it would cause a serious crisis in the global poor platform. they will be unable to beg and lead their life

Provided that the users have at least good amount of knowledge about digital currency most especially bitcoin itself, there wouldn't be much of a problem even for the homeless. i'm sure that when the future for bitcoin comes it would be a basic necessity for all people to have the technology where they can regulate their virtual money. And I'm sure the government would provide it for the people themselves.

Unless the standards of living rise all over the world it very unlikely that we are going to see a world without physical money, most people lack the means in order to use digital money in any way or form, this is why bitcoin cannot really be adopted all over the world it will be a currency for those that have enough means to receive electronic payments.

I dont think so but fiat is good but if you have a digital and the private key is so safe so no one can get it so fast than if you have fiat theres a lot of evil trying to snach that or to kill you because of money that youll have so ithink its good .

Bad idea as many such people has no idea of ponzis, scams and knows nothing of btc security so they can easily be theft of their money

Poor persons just want the least money for their survival and the rest they would save for the precursors of them. so no need to give them much

Everyone has a chance to grow, if they really want to move and find a better way. Money has no effect on a person's physical or digital status, just a matter for people how they work hard to improve their lives
It just has the same scenario in my opinion

Yes, that is true. What matters to their lives is their hard work. If they can work hard, I'm sure the results they get are also what they do. But if they work with no intention, the results are also bound to follow. So money has no effect.

With every advantage, there comes some disadvantages too. We have different types of people in the whole world. Some are very rich, some are rich, some are medium, some are poor, so many are so poor, and the majority is much poor. We have such categories and so far bitcoins have been facilitating only first two or three forms. But other will definitely be disturbed in other case.

i think it should not happen that all the fiats are replaced by the digital currencies. there should exist the fiats too for he bpl listed persons

I see the safety question as more relevant in the context of access - would poor people have access to these Technologies in the first place, would they be able to take their technology to be repaired if something goes wrong? These questions worry me

Digital currency can easy acces by an educated person and to those who have knowledge on it.If physical money would be gone the poorer would be so poorer because they cannot afford mobile phone to buy their needs.Its like a fiat and nothing will change if a person cannot work hard  they cannot become successful.

by the time this thinking can be realistic, it would have been so that even beggars are beggig digitally

Well in my perspective, if every money becomes digitalized, it will lessen the percentage of the poor and especially the beggars. If that happens, it will be impossible to give alms to the beggars because it is quite bizarre to see a beggar askimg for coins holding a smartphone. They will be forced to find a job or to do something to get out of that situation. And I think it is a good thing because it will help them help themselves.

The thing is, if they are categorized as poor, it is sure that they will lack such gadget required to use for the digital currency. Especially that they can not afford the use of internet as well. For them, instead of prioritizing those kind of things, they will just opt to buy food for themselves or their families.
In case the problem occurs, government support have to be well implemented.

Yes you're right it is not applicable for the poorest unless the government will provide them gadgets for free and internet for free. So for me economy is not safe for the poor or the poorest without having a physical money.

I dont think it will work with the poorest because even gadgets and internet is they dont afford, how they can have money if it will be digital? they cant have it, it will be a big change for them if the money would be digital because  they dont know how to use it and its so hard for them to have money if its not physical money.

It's just a guess that everyone has their own way of life.

Money is the same, as long as it exists, and not every currency will be what you think it will be.

The dollar will exist, the pound will exist, encryption will exist, they will live in this world, of course if there does not exist, it has been eliminated, this is the world.

As long as all if the people in the future is technology literate, there wouldn't be a huge problem for these people in a market run by digital currency. Because if this so happens then their respective country's government would categorize a personal digital currency regulator as one of the basic human needs of these people, therefore the government of these countries will be the one to provide it for everyone.

for me thsi crypto is for all rich people only not for poor but its more good if rich people gets a lot of money here and then they will give it to poor people i thinki this is more good than to claiming this to build their want like house or buying some lamboo and i think this cryppto is so dangerous because this is like a bubble it always changing.

Well, as for nowadays. What's keeping robbers from the bank robbery in order to get a cash? Even if it happened now, who would be suffer the loses? Similarly, in your future. Hackers will steal a certain amount of DIGITAL money. So what?

I think it's not safe at all, it's risky and unpractical. We as a society and generation are well adapted to the
use, dependence and utilization of fiat or physical money. The monetary system that has been well practiced
even before our time has proven to be effective in social and economic systems with the society and governments.
Welcoming the all out possibility of utilizing an economy with the absence of use of physical money plainly
disrupts the flow we all grew up to and will create a chaotic situation of unknown proportions with all classes.
It's not just the poor, but everyone involved will be affected. It has it's ups an downs, and even the positive and
beneficial advantages takes time to blow. There has to be a better approach or way, even that takes time too.

For many people who don't know the digital cryptocurrency!

Because digital cryptography is not physical, they can't see it, they're always worried!

They are reluctant to accept BTC's ideas, which is part of their poverty.

But that is a huge if man, just look around you may think that people of this era are technologically literate but that is not the case, people know how to use their phones to navigate and be able to send some text messages but that's all they do, they really do not know about how the technology works and we cannot expect that people will know that in the future.

I personally can not say if it will work well because I think not everyone will be able to fully understand the activities of transactions or other activities with a method that uses digital currencies, especially in countries where the economic level is not good.I think to do that is not as easy as what you think it is necessary for the construction of facilities and infrastructure and a detailed understanding of digital currency to all levels of society, especially those with the majority who have very little income.

It will happen soon in the future.... Though if it happen it will be the worst effect of digitalize currency because what if the person is not literate and have no idea about crypto they will be get affected by this but.... As human we need to learn everything just to survive its part of our lives if we want to live we will seek for it... But it is very sad to imagine other who cant  cope up with the rapid changes of the world...

It is hard to imagine a world without physical money but in the future we cannot avoid it although maybe there are still come small physical money in circulations especially in the poor sector.

An economy without physical cash isn't alright for poor people. Honestly, the vast majority of them say that it will be an incredible thought. However, you are a destitute individual in the not to modern country or city a significant portion of the general population doesn't have a knowledge and ability to use some computer and some cryptocurrency.

It’s in no way safe for them. What did you call them, the poor right? Since the are poor, they will in no way be able to make use of Bitcoin because they can’t have access to it, due to other having the required gadgets that does that. BTC cannot be a currency, cause it doesn’t have the qualities of a true currency; real currencies can be used both online and offline.

When using fiat, you’re able to use it online and offline; there are mobiles apps that allows the use of fiat online just like your bank mobile app or PayPal, Payza and the rest of them.

That’s true bro. We have adapted to the use of fiat and changing fiat will be very difficult, not even just difficult but impossible. You can’t change it, all you can do is invent ways that will make transactions easier, safe and faster. Just like Bitcoin, it is an asset (a digital asset) but we still use it to make transactions and then withdraw them to fiat and it is also fast and safe too (though I’m not sure if the safety is 100%) an economy without physical money won’t be in favor of the poor ones.

Yeah because of technology will make everything easy technology will make monetary transaction more user friendly if it will happen monetary will  become more versatile because their no burden of bringing physical money if you  every where and transaction will become more faster and more safe.

In my opinion, I think it is not that safe. It also has advantage and disadvantages especially to the poorest people. Even if we are now living in a digitized world, we have to admit that not all people have knowledge in cryptocurrency and not all people can afford to have a savings account. People in urban community will still need physical money over cryptocurrency, it is more safer and easy for them to use on their daily living. We have to face the reality that there are still this community that doesn't have a source of electricity and no internet connection. Living in a place without physical money will be more difficult for the poorest people.

In any condition there is not any safe place for poorest guys. Unfortunetely there is no more or less safe condition.

For a good economy and prosper economy physical money is important and through paper money the future is safe because the money is physically existed and it is with you at home so the country is bound to to receive the paper money which they printed while in the other currencies you can not bound any one for that and the paper money is good for the poor people as well.

I think it is safe but would be too impossible to make it happen. Poorest people here in our country also didn't have enough education about the edvanced technology and so as the use of computer so I think it would be really hard for them to access bitcoin without enough knowlege. Physical money is still necessary for them.

I do not think this will happen. if that happens, of course the government is already thinking about how to overcome it. so this does not affect the occupants of each circle. except for the ignorant and lazy. because not everyone who is poor is stupid and has no ability.

I think without physical money is safe for the poor. In our country not everyone is a computer literate and there are even places that does not have electricity and computers. Internet is also costly that not everyone can afford it. Meaning poor people only use the physical money.

Its too unfair especially to the poor people because not all the people can afford to buy a device for using this new technology and for sure not all the people do not know how to use it, I think the problem that we face if that happen basically the system will become centralized and it may lead to corruption.

I gree with that Bitcoin is very techy currency, it involves knowledge about technology and access to it. If a person is not into it how could he or she possible to have his or her own salary to this, just like to the less fortunate people if physical money will be non existent how could they possibly earn if there are not familiar with Bitcoin?

Yes, in a situation where we don't have physical money, hackers will be best friend to have and for the population of the poorest it will be hard for them to do their day to day activity because they will the internet and of which they afford a computer.

If you talk about the poor, I think we will always need physical money for them. As there are still many people below the poverty line which cannot afford food for a day, it will be very expensive for them to have devices for virtual money. Either government should provide them facilities or virtual currency system this cannot be implemented.

I just do not understand How poor people will be able to realize all their needs if the world comes to electronic currency. This is practically the first step toward their extinction. We must take care of the unprotected strata of the population.

If physical money can then why digital money cant?

If that happens the poor people also will get updated to that situation for using digital money even they can use ti with android mobiles and the android mobiles are now available for $50 dollars too so the device may not be the big problem.

The status of the poor wouldn't be that much different than what their status would be if having all forms of currencies be digitized. Why? It's pretty simple actually. Right now, with fiat around, they're already poor because they don't have any of it. Crime rates are still up there because of poverty. Will those change simply because all currencies are digitized? I don't think so. If anything, it may make matters worse for these less fortunate ones.

We must still take into account the situation that practically the majority of the world's population does not have the necessary means to exist in full. In addition to highly developed countries, all other countries provide false statistics about the incomes of their citizens. Translating all means into the digital currency, we risk plunging into the world into social chaos.

An economy without physical money is something of the future, unless and until the complete living population is able to adopt a digital payment setup, this future cannot be realized.

This complete population includes both the rich and the poor, however, the rich with access to more resources can stay above the curve with more knowledge of technology and a better way to make the new tech work for them. The poor on the other side often lack technological literacy to fathom the intricacies of a new advance system. So they may take more time to adapt. Having said that, this doesn't mean it would be bad for the poor. If digital currency is made mainstream, the rich don't be able to get away with tax evasion and other illegal monetory transaction, this will keep more money flowing in the economy which will help everyone in the long run

I think the economy without physical money will have a big influence on the poor because if there is no physical money then the poor will get poorer, because most poor people do not know the technology ..

Everything is safe but there are people who still in beast mode that can do everything to make them up, eventhough they step others. Even without money that we see or touch, it is not safe because of those people who make someone down to get what they want. Our economy rolls safe even we have physical money or even without. Its about those gambler people.

Actually, most rich people don't know the technology either and if you think that they have more chances to be educated, that is not always the case, because being rich they have less motivation to learn, ending up wasting their life using drugs and alcohol, while poor people try hard at educating themselves. Fortunately the Internet has changed the world for better and now you can learn a lot of useful things without paying for the education. I think the "poor will get poorer" approach is wrong in this case because the development of new technologies triggers exactly the opposite.

Roger! Paper money cannot leave the economy fever and it is not just because poor people are not able to use crypto currencies. There are many reasons people would not let it happen even the government need backup in the form or paper money if the going all the way digital. Scammers are a big issue as well. In short, paper money have been assisting people for years and they will stay for centuries more.

It only have the same scenario. Money doesn't give effect to the the status of a person either physical or digital, it only matters to person how they work hard to improved their living. Everyone have chances to grow, if they really want to move and find a better way.

An economy with physical money maybe become safest because it will all go through internet only. No physical money can be seen and with this, no bad people may have bad intentions to do robbery or crimes which includes physical money. Digitalized tokens or money can help people be safer and can work as they want. This can help people spend their money without even bothering how to be secured.

but sometimes it will be difficult for poor people, because they only think to be able to eat, and it is difficult for them to enjoy the internet because it is a luxury requirement, if there is no android or computer, i think this becomes a problem

I think the poorest people is not affected because because they are poor and no reason to have an interest to it. If this will happen then the rich nation will possibly offer a help for that country in order to make that country has a same pattern in money system. But I also doubt with this since a country has a freedom to manage its own country and maximize it regarding to what is the best understanding oofits own government leaders and the people living on that land.

Not only that, think about the possible consequences of an economy running completely without physical money the amount of hacking that is going on right now is very high and that is with a segment of the population that is supposedly more capable with technology, what do you think it is going to happen when people that are even less capable begin to use cryptocurrencies?

somehow the crypto currency will already be used by the people. In any sphere of human activity, the crypto currency is already being introduced. This can be gambling, and buying goods on a certain resource, but the essence is always the same, but the crypto currency is slowly but surely entering the life of a person.

This is a big issue, touch the core points of modern liquidity and technology economy. You have to follow the Indian system very closely to see how it goes and have an idea of what might happen.

For honest and poor citizens, the end of paper cash brings many unsettling downsides,cashless transactions just aren’t practical. Considering that without savings, and with high rates of illiteracy, these poor people have a little chance of joining a cashless, digital economy. So, i think it is not that safe for the poorest that the economy without physical money.

Probably no because loosing physical money is very intense for every individual in every day, for that reason that all of us are comfortable in using this type of money, another one is that every one can have it without usibg any king of gadgets.

it will have the same function between physical money and nonphysical money and people can use that money for buying something. but if we want to use nonphysical money then we need to see that there are many local stores that accepting nonphysical money and they need to learn something related with nonphysical money so they can know the basic function of nonphysical money. and once this is a success then we can use nonphysical money and maybe in that time, there are only a few people that using physical money because we still need to carry that money to everywhere so we can buy something. and if we are using the nonphysical money, we only need to carry the wallet of that money like an android phone or something like that so we a buy at the local store.

Electronic money accounts can be hacked. They can be also controlled by security forces. It means a lack of freedom for poor people. That's why cryptocurrencies with their safety and anonymity are so important for ordinary people. Awareness of such technologies is also very important for poor people to safe their money.

Actually its hard to define in this kind of situation that without physical money is safe to the poorest,because as far as i know not all people all over the world is knowledgeable about cryptocurrrency system,even in my homeland  that also belong in the poorest thirds worlds country,we admit that 20% estimated  of my countrymen would only knows about digital currency system,thats why its hard to the poor to adopt the crypto coins to used,because they are need to educate about this kind of new currency system.

It is very hard without a physical money for the poor. In our country there are places that cannot access internet and even do not know how to operate a computer. Even the internet connections are very costly when some cannot afford it.

Governments will not held a decision wherein they are not sure about, if so they are more likely to be child-like. what I mean is that every decision from a government goes with a process and involves a lot of people in different  positions. They will consider their countrymen in all status before having a certain order, making sure that everything will go in good way.

yes it is still safe because the transactions are fast, the reason why the security of cryptocurreny is safe is because there are a lot of bitcoins that is not circulating in the market since their password is lost by their owners.

if this happens then this world becomes a paradise of hackers, because they are the only threat to the bitcoiners. and not only the poor people who have bitcoin but everyone have to learn tecknology digital to protect their asset.

Each country creates its own economy and everything should happen gradually. Immediately abandon the physical money no one is going, and maybe in each country will have its own economy and its rules, and they can be different, as at this time.

How come it will be safe  for them poor country with poor people how about their technology they cant transact without this so what will happen to them i think its not good for them.

there is no 100% secure in this world that besides electronic money accounts can be hacked then paper money also can be stolen even the government can't control paper money for every people and we're not talking about the securities system for every technology but we are talking about whether if someday there is no physical money then it will have an advantages for poor people or not but in my opinion the poorest people problem is too complicated to solved and it can't be done instantly

In my opinion, no its not, even developing country is not suitable for having completely digital money, people will fall in trouble impacting there day to day transaction. People who are not that literate and are poor will be targeted easily by crooks. I think economy with physical money will not be possible for atleast for few decades. Both the system has and will be having flaws, for poor people, Digital Money system has many disadvantages for them.

I don't know really; no society is safe for the poor people I should say.

What kind of example is this, if people can loose their money because they forget about their password and cannot retrieve it means is not a good sign and how does people loosing bitcoin have to do anything with security, no one is having a doubt in the network strength of bitcoin but the way in which you store the coins is more important to safe guard your asset.

No it is not, not every people in the country does have the capability of investing or earning cryptocurrency and if the government will plan to use cryptocurrency for the entire nation to be used then they must also think about the disadvantages on other people.

maybe those who are the victims of technological advances, if that is true, those who will feel so greatly impact, by using cash they just have to fight extra moreover this, I think it will trigger increased crime, hackers for example, but do not let the effects negatives do not make us step backward, technology must stay ahead any risks, because sure every problem there must be the best solution that can be taken

I think many people will be poor because some people don't have ability to use crypto it will hard for them. I think its much better if the situation be fair like government in every country give consideration the poor if they don't have ability to use crypto or digital coin. It's hard to think if that scenario will happen.

Well, I think economy without physical money safe for the poorest, plus it will have many pluses, every transaction will be public, so now even street beggar what will use QR-code, will pay taxes. OF course, no one will rob a bank, there will be hackers who will find ways how to hack it, plus popularization of carding all this can make a negative effort on the economy.

I think its not, because today's world situation that every society in different corners of the world have different status and understanding  in life, most have no access of internet and others doesn't have the opportunity to handle computer because of lack of knowledge or generally that is the poor people that are living in a simple way of living, so how can they will survive if they have no more access to monetary transaction? then as for me without physical money of this generation is not safe for the poorest.

This situation will never be safe for the poorest. How can they use digital coin if they don't have any gadget or they don't know how to use them. It is unfair to them.

Well, even if economy will leave from physical money, I think the government will run some education programs to teach people how to use "virtual money" and some lessons about how to save yourself from being scammed and not lose your "virtual money", people don't need computers or internet connection, I think, on street will machines connected to the internet, that will let people transfer their "virtual money" via them and check balance. Other information or functions they will able to get in local Bank.

If all the economies of the world starts using digital money instead of physical money all of a sudden, many people get suffered. Poor people will be the first persons got hit by this digitalisation. Physical money is the most popular currency of the world.

This is a really great question.

It really depends on whether or not the government has the best interests of the people in mind or not. However, I think blockchain currency could prevent all kinds of fraud and theft. It allows the government to actually reverse transactions. There isn't a debate about how much the transactions may have been worth. It is all stored on the blockchain. This allows a good government to step in and say, "This was fraud" and instantly return the money to the exact people who were taken advantage of. Making the poor whole again. (Of course it will be impossible to get the fraud money back from the fraudsters that spent it, but that is far less important IMO than helping out those who have had money stolen from them).

I agree, poor people cant access it and they will suffer until they die. They dont know how to use digital currency and how to earn it, then it will be hard for them to survive. We must consider them because they are part of the world. It will not be safe for them when do not use paper money.

It is a sad and terrifying thought.
They do not have the access to primal need for technology to which cryptocurrencies heavily rely on. Though pretty sure that future on regularization of crypto as an actual money is very far and governments will have to do a lot of work if they want it to be actualized.

Poor people have limited or no access at all to the technology so it would be hard for them to adopt to the changes. The government should do something about it when it happens because they just cannot survived when they don't have any idea how to use it or don't have any gadgets for them to easily access the sites used. This is the reason why I think cryptocurrency would not be totally adopted because of the limited access to technology and network. It can be done in first world countries but it is nearly impossible to implement it in third world countries.

For weak systems, hackers may be able to power with this. but is the paper money safe? many corruptors you will make friends

I think that the problem of the poorest people is not in the security of transactions or storage, but in the absence of the money itself - digital or cash does not matter.

Yes it’s true that digital form of currency are gaining a lot of popularity among the people since it has started and its users have also increased a lot since it has started but still I don’t think that digital form of currency is better than physical money because firstly, physical money is way more popular than digital money throughout the world. Then physical money is accepted everywhere and by everyone throughout the world whereas digital money is not accepted by everyone and everywhere

An economy without physical money is something of the future, unless and until the complete living population is able to adopt a digital payment setup, this future cannot be realized.

This complete population includes both the rich and the poor, however, the rich with access to more resources can stay above the curve with more knowledge of technology and a better way to make the new tech work for them. The poor on the other side often lack technological literacy to fathom the intricacies of a new advance system. So they may take more time to adapt. Having said that, this doesn't mean it would be bad for the poor. If digital currency is made mainstream, the rich don't be able to get away with tax evasion and other illegal monetory transaction, this will keep more money flowing in the economy which will help everyone in the long run

For the safety and being secure about their money if they use the digital money is too risky for anybody because of the active hackers. Moreover we don't if they know how to secure their money.

For the rich country or rich people actually they are fit to them because it is hand carry.

in my opinion, this situation may be very sad for the poor, because most of the poor are those with weak human resources. so they will find it hard to adapt to new technology and take a long time to adapt if forced into such circumstances.

A reasonable thinking that for the low income people or the poor people among the community to be improved to the minimum required standard for  the computer or net work usage.Till that the government should operate both the money parallel to the physical money and the virtual money.like in Japanese government  adopted method. Bitcoin is the most powerful currency can operate world wide and which can be useful for all means of life for the human being  so it is a stable currency.Normally bitcoin will not effect the inflation.

i think between that physical and digital money has its own advantages and disadvantages. but clearly government can not resist development of technology, so that later will also be legalized by government

we need fiat even if we hate it.  The population of the world should be financially and economically on the same level to implement this that the whole world will become free from fiat and only digital currency will rule the world , because the poor will suffer if the whole world money will be digitized. Both fiat and digital currencies have their own importance, so it will be good to keep them both instead of using only one of them. We will always have people who don't have a smart phone.

That was alarming ! If that would happen, poor will be devastated due to they don't have physical money to hold  and use.They will have difficulty in handling money because digital money needed a gadgets and internet to access. The world will be unbalanced and become bias for a reason that only the average and rich people will benefits it. Fiat is important to people, governments, country, and economy. It is not bad to have a digital money but choosing one between the two is unneccessary.

There is no point of denying this fact that it is not possible for the ones who don’t have enough money to buy some crypto coins and that they are only dependent on the paper money. If there remains no paper money in this world, then they will be facing lot of problems but if the government plans to take some positive steps, then all their worries can be finished and that they can live a happy life.

It is hard for the poor to accept digital encrypted money without physical form!

They only accept legal tender and gold and silver!

Digital cryptographic currencies are highly volatile and prices are volatile and it is hard for the poor to accept such investments.

The poorest people may have no understanding of the digital currency, and no one can eradicate poverty in the world.

If we do turn to the digital future, people who are behind The Times will be eliminated.

There is nothing perfect in this world and an invention of human can never be without a flaw. Definitely, digital currencies has its own pros and cons and same stands good for paper money. It is the need of time that decides what someone is going to pick between both of them.Digital currencies are according to the requirement of present and future where speed matters a lot.

The poorest population doesnt affect with digital or cryptocurrency because what they need is education and more jobs. I am believe if good education and good job will make them shifting from their life.

Yes, nothing is perfect in this world and something or some people must make a huge sacrifice in other to achieve some greatness but I still don't think the world without physical currency will be fair for the poorest.

It would absolutely takes time or wont take place at all wondering of that all would be digitalize thinking about that now not all people do have the resources or tools to interact with and adoption will took too lengthy because some even didn't recognize how to use internet,gadgets etc. and this is why local fiat would sincerely stay no be counted what. I assume it is now not secure on account that the poorest doesnt have any information about digital currency. They can be fooled easily by way of those people who knew a lot about it. In addtion to that, they want to have or acquire at least one gadget and an internet connection in order to manage and manipulate their money. We knew that terrible humans cant manage to pay for that kind of matters so that they will have a tough time coping in digital currency.