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Author Topic: The future of the paper money  (Read 403999 times)
2legit2
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June 23, 2016, 07:55:04 AM
 #1201

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?


I think that it is pretty easy to understand that in futurr there will be either less paper money, or no paper monry at all, we use less each day now too

And i don't think that paper money will be ever banned, because people are used to paper momey and not other types of money

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June 23, 2016, 10:25:21 AM
 #1202

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?


I think that it is pretty easy to understand that in futurr there will be either less paper money, or no paper monry at all, we use less each day now too

And i don't think that paper money will be ever banned, because people are used to paper momey and not other types of money

I think it's dangerous to not have a paper currency because there are so many genius hackers out there now a days that takes like 2 seconds to remove all the funds out of your bank account and run with the money.

It's a very risky business to go all digital.

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June 23, 2016, 10:18:01 PM
 #1203

The era of paper money is coming to an end, IMO.
Soon it will be entirely replaced by electronic/plastic analogues.

Oh look like you thinking is way too much. Paper will money will exist in decades. Virtual currency are meant for virtual transations same with fiat currency are for fiat transactions.

No way virtual currency can touch physical transaction without an active internet network.

Yes paper money will always exist and survive and I don't think it has any threat from paper money in future, as the customers of paper money are more in compare to bitcoin.

Try to think of it from another angle.

The world is moving into ecological crisis. Deforestation is an actual global problem.

If humanity has already accepted plastic cards and digital wallets, why not stop producing paper money, bit by bit, and by this reduce wood consumption?
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June 23, 2016, 10:21:17 PM
 #1204

If bitcoin will be available in physical form like paper money, or physical coins or may be in the shape like debit/credit cards, then there will be decline in use of paper money.
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June 23, 2016, 11:07:18 PM
 #1205

If bitcoin will be available in physical form like paper money, or physical coins or may be in the shape like debit/credit cards, then there will be decline in use of paper money.
Yes or maybe and it is possible since in that time bitcoin will be something like gold and people will use it in different investments.



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June 23, 2016, 11:08:40 PM
 #1206

If bitcoin will be available in physical form like paper money, or physical coins or may be in the shape like debit/credit cards, then there will be decline in use of paper money.

Maybe but i dont think that btc paper would have THAT much affect on it since the matter why people use btc so much is for illegal transactions and gambling purposes so in reality it would not change that much for the better/worse.
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June 24, 2016, 03:24:10 AM
 #1207

If bitcoin will be available in physical form like paper money, or physical coins or may be in the shape like debit/credit cards, then there will be decline in use of paper money.

Maybe but i dont think that btc paper would have THAT much affect on it since the matter why people use btc so much is for illegal transactions and gambling purposes so in reality it would not change that much for the better/worse.
It is not all gambling and illegal are the use of bitcoins, many are also using it for legitimate transactions online, like transactions with online shopping of products and services so we can still see that more people will adopt bitcoins because of the convenience in using it. Paper money will still remain in the circulation of course.

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June 24, 2016, 03:34:20 AM
 #1208

If bitcoin will be available in physical form like paper money, or physical coins or may be in the shape like debit/credit cards, then there will be decline in use of paper money.

Maybe but i dont think that btc paper would have THAT much affect on it since the matter why people use btc so much is for illegal transactions and gambling purposes so in reality it would not change that much for the better/worse.
It is not all gambling and illegal are the use of bitcoins, many are also using it for legitimate transactions online, like transactions with online shopping of products and services so we can still see that more people will adopt bitcoins because of the convenience in using it. Paper money will still remain in the circulation of course.

No doubt many people are using it for gambling but it doesn't make bitcoin illegal as a whole, bitcoin is a decentralized currency and not illegal, but the fact is people have more faith in  paper money, bitcoin is still very new to them.
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June 24, 2016, 05:02:17 AM
 #1209

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
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June 24, 2016, 07:49:21 AM
 #1210

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think you should already consider other countries that cannot adopt with digital world. And even it is widely use in developed countries but still there are other people who prefer paper money and those are people not doing online transactions.

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June 24, 2016, 07:51:56 AM
 #1211

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think you should already consider other countries that cannot adopt with digital world. And even it is widely use in developed countries but still there are other people who prefer paper money and those are people not doing online transactions.

We cannot expect that everyone will start using bitcoin in future, not possible in small villages where people don't have access to internet, they will continue their journey with fiat.
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June 24, 2016, 09:49:25 AM
 #1212

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.

I dont think so. That is still  far away many will happen and besides I think that it is still risky living your money online. Some still prefer it that way and physically touched.

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June 24, 2016, 10:25:48 AM
 #1213

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.

I dont think so. That is still  far away many will happen and besides I think that it is still risky living your money online. Some still prefer it that way and physically touched.

Well for those who dont want advancements then they will still stick to a paper money eventhough technology will put it's way on progress. People are just waiting for the time that digital currency will be accepted for almost merchants around the world before deciding to switch.
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June 24, 2016, 11:06:51 AM
 #1214

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think you should already consider other countries that cannot adopt with digital world. And even it is widely use in developed countries but still there are other people who prefer paper money and those are people not doing online transactions.

Yeah I agree. Some country does not have a digital or Hi-tech community to adopt digital money, and the people also who loved the paper money, because its easy to use if you want to buy something, all you have to do is to give it to the cashier and wait for your change. The paper money will not be banish and it will stay forever.  Cheesy Cheesy Cheesy
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June 24, 2016, 11:35:29 AM
 #1215

Well IMO paper money have low chance to be dead by year 2040 above. I think the chance of it being dead at that time is about 0.01%. If it will be dead, IMO bitcoin will replace it.  Grin
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June 24, 2016, 11:02:37 PM
 #1216

Well IMO paper money have low chance to be dead by year 2040 above. I think the chance of it being dead at that time is about 0.01%. If it will be dead, IMO bitcoin will replace it.  Grin

I dont even understand why you guys waste your time to post this crap...BTC will most likely never take over the world's currency system because of the fact that there are a limited amount of BTC and the governments at all times would have to control it.

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June 25, 2016, 11:33:37 AM
 #1217

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.

You are right, it is very alarming the trend of technology today. Everything can be done through online transactions or by means of computer use.
So the future of paper money is really on it's way to downfall. Because people wants to be more convenient when it comes to monetary unit.
With just a simple click you have already your money online and you don't have to bring your own physical wallet for it.



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June 25, 2016, 01:35:25 PM
 #1218

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think you should already consider other countries that cannot adopt with digital world. And even it is widely use in developed countries but still there are other people who prefer paper money and those are people not doing online transactions.
Yeah I agree. Some country does not have a digital or Hi-tech community to adopt digital money, and the people also who loved the paper money, because it is easy to use if you want to buy something. All you have to do is to give it to the cashier and wait for your change. The paper money will not banish and it will stay forever.  Cheesy

Fiat and bitcoin have it's own pros and cons.

Fiat dominates physical transactions as it was way more better than doing bitcoin transactions physically if possible.

Bitcoin (can) dominates online money transactions since at the first place that was the intention why it was being created.

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June 25, 2016, 01:43:46 PM
 #1219

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think you should already consider other countries that cannot adopt with digital world. And even it is widely use in developed countries but still there are other people who prefer paper money and those are people not doing online transactions.
Yeah I agree. Some country does not have a digital or Hi-tech community to adopt digital money, and the people also who loved the paper money, because it is easy to use if you want to buy something. All you have to do is to give it to the cashier and wait for your change. The paper money will not banish and it will stay forever.  Cheesy

Fiat and bitcoin have it's own pros and cons.

Fiat dominates physical transactions as it was way more better than doing bitcoin transactions physically if possible.

Bitcoin (can) dominates online money transactions since at the first place that was the intention why it was being created.

Well people just tend to use fiat money for transactions since they are used to it and for a long time we are using it.
But we are going to see changes about the future of paper money, when bitcoin enters the knowledge of the government.
And with the people of society, future of paper money will just tend to fall.



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MatrixCoin - Creating Bright Future Together


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June 25, 2016, 01:44:04 PM
 #1220

bitcoin development is now so large and rapid development now. bitcoin has a market share that is so outstanding today. bitcoin very bright future and I think the future will be better.


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