[2015-05-05] Nestmann - Will Central Banks Abolish Cash?

[Black Arrow]

This article by Mark Nestmann is mostly about negative interest rates and the government's incentive to penalize cash, but it does mention Bitcoin as something worth investigating, indicating that Financial repression laws are leading people who wouldn't otherwise be interested in Bitcoin to consider it as a means to avoid repressive laws.

Finally… there’s no question that technologies  that will render obsolete central banks and indeed banks themselves are rapidly advancing. Bitcoin is a great example that’s worth looking into.

http://www.nestmann.com/will-central-banks-abolish-cash#.VUoEW5PzfYm

[Whitehouse]

I don't think they will abolish it any time soon. Cash still has it's benefits (cash is king as they say), but I certainly think it'll be fased out over time naturally - after all most payments made these days are done with plastic as opposed to cash and the number of these transactions will continue to grow. Hopefully bitcoin will as well but I don't think it'll ever overtake fiat or cash.