The Way how things are going and fiat and crypto

[cryptoboss2020]

I dont think there is plan to make no cash system.
I rather think that CBDC is More like the way to create value and wealth backed by real world assets to track the value of the real world real assets the tokenized system will be used.
The real solution here is to replace the current unfair money creating system creating money out of nothing.  

There is no need for eliminate cash the cash will stay there no reason to eliminate cash.
I think its missleading Information like someone had Information and now will change the info to make it look like more bigger more drama and more fear and confuse so its kinda alt media what sells fear...  to people but in maximum.

Its just the bitcoin going to be like gold was they made some mistakes in history when the central bank gold was sent to forth knox and stoled from there....  now they have bitcoin wich is far more safe

My conclusion: the cash will stay just the way to create the wealth and money will be changed.

[Oshosondy]

I do not see anything that can happen to cash this time around, the world still depends on it so much which will still go a long way if not forever. About the CBDC, it can not have anything to do with cash but it looks more like digital fiat as it will be very centralized and not decentralized in any form, but yet, nothing can be done to fiats because it is still needed by people.

But we should still not to forget about decentralized currencies like bitcoin as it is totally decentralized and yet if kept well will not be stolen, it is a store of value unlike fiats and also can be kept in a way more safe than other assets like gold which makes bit better than others but that does not mean cash should not be used, people still needs fiat but it can not be be a store of value like bitcoin.

[DooMAD]

Bitcoin has many uses, but creating debt isn't one of them.  Most societies have grown accustomed to relying on the creation of debt for things like mortgages and business loans.  We're not likely to outgrow that reliance anytime soon, if ever.  So national fiat currencies will continue to serve a purpose because they're good at debt.

Given the choice between a digital CBDC and physical cash, I'd rather use cash.   Obvious privacy implications aside, I've witnessed enough technical faults with payment processors that I don't trust their overall reliability.  Governments are generally too shortsighted and buried in bureaucracy to be capable of designing a system that doesn't have at least one central point of failure.  Chances are, given that they'll want to be in total control, it will most likely have numerous points of failure, so it's only a matter of time before something goes wrong. 

[bassbity]

Fiat money is sure to remain, to balance the price of anything, be it goods or services. In this case, although the economic sector started to grow with the advent of digital currency, basically not everyone is taking advantage of it. There are still many out there who rely on traditional currencies to carry out various transactions in everyday life.

It is true, there is no need to eliminate fiat money, simply innovate from fiat currencies, such as crypto without eliminating the authenticity of fiat currencies.

[Dragonfund]

Your country may be among the develop countries of the world, have you consider other countries that don't have access to Internet to make transactions, how will they survive without physical cash when they can't even purchase via the internet?
Stable coins may have shown the world how far they have gone but what will you back them with? You want to use the same cash you want to eradicate?
If you have plans on making bitcoin and other alternative coins as option to bay bills and exchange value, then I wouldn't take you serious. We shouldn't be blind by profits in the space and not saying the truth. Cryptocurrency and economic concerns are far different though correlated in some aspects.

[Dutchyyy]

I dont think there is plan to make no cash system.
I rather think that CBDC is More like the way to create value and wealth backed by real world assets to track the value of the real world real assets the tokenized system will be used.
The real solution here is to replace the current unfair money creating system creating money out of nothing.  

There is no need for eliminate cash the cash will stay there no reason to eliminate cash.
I think its missleading Information like someone had Information and now will change the info to make it look like more bigger more drama and more fear and confuse so its kinda alt media what sells fear...  to people but in maximum.

Its just the bitcoin going to be like gold was they made some mistakes in history when the central bank gold was sent to forth knox and stoled from there....  now they have bitcoin wich is far more safe

My conclusion: the cash will stay just the way to create the wealth and money will be changed.

In Asia, China is making a cashless society and in Europe Sweden are following their steps.

I voted for Yes, cash should stay. In crisis and for offline exchange, cash is the king and will be for another 20-30 years at least. Plus state is gaining topo much control over people's lives with a cashless society.

[tabas]

Cash will stay, not everyone is well-versed to technology and it will be a long process until the whole world goes digital. But the first one that will adopt the cashless system would be the first world countries and countries that has means of living through technology and is currently have a big GDP through technology and products related to it.

In Asia, China is making a cashless society and in Europe Sweden are following their steps.

In China, this is true. Alibaba is like the Amazon of China and they're one of the biggest payment system that's being supported by their government.

[xSkylarx]

If cash or fiat will disappear how can we define something's value. Bitcoin and other cryptocurrencies only exist on the cyberspace. Other assets or investments too like gold will lose value if fiat disappears.  Cash will always stay we should remember that. There are still some countries that only few people use or know a cashless way of payment and not all will prefer a cashless society.

[Psynthax]

I too think the same thing, eliminating cash is unnecessary and to have many alternative is definitely better. Each individual has their own need and priority after all, not to mention the Internet not yet covered the whole earth.

For example CBDC might just become alternative like the existing centralized service like Apple pay or Google pay, not everyday used but improves quality of life by making things easier.

[bakasabo]

If cash or fiat will disappear how can we define something's value.

By substituting value with an item or a service. Back in far far past people did not have fiat and still managed to exchange cattle for seashells or beads You have mentioned gold. That is a good example of "something's value". Just pay in ingots and the exchange rate is discussible.

[RealMalatesta]

Cash as in banknotes will always be needed, because tech can't reach everywhere around the world and it will probably exist forever. Let me tell you a story about the names of the currencies, things like pounds and lires and so forth all stems from the "weight" of a currency, obviously 1 pound doesn't weight 1 pound anymore that is true, but back in the day when currencies was named weight was the thing people used.

This shows you that people cared about getting paid by hand a lot, even during periods of giving someone a check for payment, people kept using banknotes to carry a lot, even when credit cards were first invented people still kept using cash a lot, and even today when we have blockchain tech, credit card tech, hell even being able to pay with QR code, we still pay with cash a lot. So, I would say cash will never be zero, sure it could become less used but it will never be zero.

[Sterbens]

Its just the bitcoin going to be like gold was they made some mistakes in history when the central bank gold was sent to forth knox and stoled from there....  now they have bitcoin wich is far more safe

My conclusion: the cash will stay just the way to create the wealth and money will be changed.

indeed money must exist and cannot be eliminated, because here we cannot be selfish just because as bitcoin activists, but we are only a few percent. while in the world there are still people who live using fiat money without experiencing any problems. here we have to be a pioneer that not everyone likes bitcoin, but everyone likes fiat currency. if not, of course we have to create our own country, and eliminate fiat currency and then create a transaction system with bitcoin.
for whatever reason fiat money remains the primary transaction tool for all of us.

[proTECH77]

Yes,fiat money is more popular in the world than crypto which many countries never still allow to their country because is a decentralized currency. Many  government request a huge amount of cash from the central bank to tackle the hardship the covid-19 has caused to their economy in the country. Many investors are use to cash investment over 20 years in the country which is helping them to improve in the country.
I think cash will stay because of this reason here:
1) Centralized: Cash will stay because is control by the government which the officials can demand for any amount of money to be print to develop their country.
2) Experience: Many countries don't have any idea concerning decentralized currency that is making some government to see cryptocurrency as a scam currency because they don't have any experience about crypto in the country.

[Harlot]

Why would the eliminate something that has a lot of value for them? If we are talking about digitalization of cash then a lot of governments are already doing it but completely eliminating it I don't think that the government will likely do this move as immediately the economy will be affected with this action. Not unless they just go for some kind of digital version of their fiat currency which is backed by the current supply of their own fiat currency I don't think something else will work for them.

[DrBeer]

Fiat money, or its digital analogue (not to be confused with blockchain technology), will always remain in a community where there is a state control system, state financial institutions, classical economies, especially interconnected with cross-border interactions with other countries. Fiat is needed for the population, the digital equivalent is for interstate, intercorporate settlements

[samputin]

Fiat money, or its digital analog (not to be confused with blockchain technology), will always remain in a community where there is a state control system, state financial institutions, classical economies, especially interconnected with cross-border interactions with other countries. Fiat is needed for the population, the digital equivalent is for interstate, intercorporate settlements

Yeah, well that kind of currency will surely remain since there are still governments that control such, and we all know that the government wants something that they can control. Besides, cash is something that many people got used to utilizing for their everyday transactions. And as I always say, let's not think of replacing one for the other. They both serve their own functions and can be used as an alternative.

[jonatha28]

There is no need for eliminate cash the cash will stay there no reason to eliminate cash.
I think its missleading Information like someone had Information and now will change the info to make it look like more bigger more drama and more fear and confuse so its kinda alt media what sells fear...  to people but in maximum.
Its just the bitcoin going to be like gold was they made some mistakes in history when the central bank gold was sent to forth knox and stoled from there....  now they have bitcoin wich is far more safe
My conclusion: the cash will stay just the way to create the wealth and money will be changed.

I think its going to go about the way that you've described.
There is no place for maximalism in economy related question.
If (or rather when) crypto is going to take place in global govs backed economy - it is going to be partial at first, thats for sure

[Browser93]

The price of bitcoin rose from $18,720 to $24,080 just like magic, is it adviseable to invest on Bitcoin am only a newbie just asking.