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Author Topic: The future of the paper money  (Read 403584 times)
virasog
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June 29, 2016, 06:00:29 PM
 #1261


You can also change the system thru gold to digital currency. So I think it is just a matter of era. Where in era where technology is the main thing we refer for our daily life and that will be adopted in the future. So as what like you said, barter system replaced to money and in the future money will be replace to digital currency.

It's not an easy as 1,2,3 even we count for many decades that won't happen.

Even how strong the technology is, it can't be applied globally and that is the reality.

Paper money is been there for centuries and you cant say it will be ended soon. It will take time for this to happen. or maybe it will never happen.

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June 29, 2016, 07:07:23 PM
 #1262

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..
I think some things should be there to compare the BTC value.. Paper money are not only the paper but its the way to communicate to others... Previously we practiced bartery system now we are using money....but still for making money we are using gold... So we are still in practice of barter system.So paper money will not disappear

I think people will go back to barter system (people in rural area)  since some country is implementing a cashless system.  Implementing such don't need of paper money.  Since the government have control on the paper money, they can cease the production of it and them push the cashless system.  One thing they can't control is the barter trade.  So goods trading (barter) will be effective during that time.

The day we go back to the barter system is the day this economy just crumbles.

Theres no way since it goes back to the original problem, if the recipient doesnt want what they have. Then what? its why gold coins were formed etc.

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June 30, 2016, 12:38:07 AM
 #1263

I see no threat to the future of paper money. Not at least now!

The paper money will be used forever and ever for your daily transactions. If you are not buying everything from a supermarket and using small shops to buy your daily supplies, then paper money is the only thing that is accepted.

Remember, most of the world population is unaware about bitcoin and all they know is paper money. So I see no threat to paper money for the next 30 years at least.

Super correct. Sone people here dont know that. There is still that big population of poor people who cant afford an average education to at least know what a computer is. Yes some got smartphone but are they educated enough to some languages to understand it?
A lot of reason to just use paper money.

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June 30, 2016, 01:23:22 AM
 #1264

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?


This ideas are still on experimental level. Right now the banks or governments or any in the financial institutions has not yet foresee the negative impacts that this initiative will bring. People have adaptive capacity they will adjust and find answers and alternatives if problems occurred during the implementation. Hence, ther is no need to worry, no guts no glory as they say.
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June 30, 2016, 06:24:17 AM
 #1265

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?


This ideas are still on experimental level. Right now the banks or governments or any in the financial institutions has not yet foresee the negative impacts that this initiative will bring. People have adaptive capacity they will adjust and find answers and alternatives if problems occurred during the implementation. Hence, ther is no need to worry, no guts no glory as they say.
Everything starts at an experimental stage and we are lucky that banks are starting to make experiment to integrate bitcoin in the operation. That would be a good news if this will become successful.

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June 30, 2016, 07:02:23 AM
 #1266

Paper money for sure will not be replace by any digital currency, more people are benefited in using a government regulated paper money than an anonymous digital currency. I don't even see it happening in the future to come.



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June 30, 2016, 01:53:11 PM
 #1267

If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
Paper money is going to stay for a while because I do not believe that it is going to disappear that quick to make everything digital.
I think that they need a little more time if they want to seriously want to implement that system in the world.
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June 30, 2016, 05:28:22 PM
 #1268

If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
Paper money is going to stay for a while because I do not believe that it is going to disappear that quick to make everything digital.
I think that they need a little more time if they want to seriously want to implement that system in the world.

In 10 years most paper bills will have disappeared by now. In 20 years young people will not know what the fuck a paper bill ever was, they will be born and raised in the digital payments world. Bitcoin will shine by then, once they realize its the only pro-freedom money available.

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June 30, 2016, 05:39:58 PM
 #1269

I believe as well that in some years paper money will be over , we are already in digital moment we do almost everything with internet, one day all countries will have acess and all people will get some credit or debit card to spend their money. Bitcoin for sure will be a huge presence at that stage , as some said the future must became green soo printed money as fuel will be renew to electric, wind and solar energy .


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June 30, 2016, 05:48:40 PM
 #1270

I believe as well that in some years paper money will be over , we are already in digital moment we do almost everything with internet, one day all countries will have acess and all people will get some credit or debit card to spend their money. Bitcoin for sure will be a huge presence at that stage , as some said the future must became green soo printed money as fuel will be renew to electric, wind and solar energy .
I think the use of paper money will not end. paper money is a very suitable means of transaction, even beyond the credit card, as with paper money, you can share and perhaps how to make it easier


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June 30, 2016, 06:04:22 PM
 #1271

Paper money has no future.It had good past and was very stunning in comparison with heavy metals which were hard to carry on everywhere.Future belongs to digital cashless society which can be seen in some European countries which already have started using digital/card money.This present paper money will be become part of past.Bitcoin will be leader for those future digital money/currencies.

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July 01, 2016, 05:46:10 AM
 #1272

for me paper money is the basic necessity of every human being, we cannot imagine our lives without using paper money, and even if worlds get digital in future, paper money will always be used.
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July 01, 2016, 06:22:53 AM
 #1273

for me paper money is the basic necessity of every human being, we cannot imagine our lives without using paper money, and even if worlds get digital in future, paper money will always be used.
Without paper money, the world will be in chaos, because if we use a digital money we cannot expect that there will be at least 100% uptime for the transaction, what if there is a massive hacking and people need to spend for emergencies, how would they do it.

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July 01, 2016, 06:53:18 AM
 #1274

Paper money has no future.It had good past and was very stunning in comparison with heavy metals which were hard to carry on everywhere.Future belongs to digital cashless society which can be seen in some European countries which already have started using digital/card money.This present paper money will be become part of past.Bitcoin will be leader for those future digital money/currencies.
this cannot be applied in most of the countries where you can never see any stores accepting digital currencies, people are more dependent upon paper money for their needs, i don't think digital currency will replace paper money.

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July 01, 2016, 07:01:26 AM
 #1275

The foreseeable future of money expressed widespread transition to non-cash payments in the current state of electronic currencies or currencies using the most modern technologies - primarily, contactless payment systems. Equally important is the security of the system, because the system, which involves the use of randomly generated numbers that you must inform the seller in terms of security is not perfect. The transition to mobile and electronic transactions system will contribute to the disappearance of cash that will make the financial system more open.
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July 01, 2016, 08:20:22 AM
 #1276

Nothing replace or grow higher than the paper money. Even now when we think of our bitcoin, it could have reached much more user profiles if bitcoin has got the paper form similar to all other currencies. Digital currencies need at least some basic computer knowledge to use it which is not required while using paper money.

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July 01, 2016, 10:22:19 AM
 #1277

I would not be suprised if we don't have any paper money in 20 years. This includes for the developing nations.
They will innovate or be forced to innovate their financial infrastruce too

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July 01, 2016, 10:26:34 AM
 #1278

the world is turning digital so the future of paper money is to get replaced by some digital fiat like bitcoin if it keep growing in price and popularity.
and is easy to use and save so paper money have no future against any crypto currency.
i believe that we just need 10 year to hear about stopping to use paper money

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July 01, 2016, 10:31:42 AM
 #1279

Paper money for sure will not be replace by any digital currency, more people are benefited in using a government regulated paper money than an anonymous digital currency. I don't even see it happening in the future to come.
I think it was the government who will replace paper money with a new version of Money. something ancient definitely be left behind. and it has become a sure thing
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July 01, 2016, 11:31:05 AM
 #1280

Paper money for sure will not be replace by any digital currency, more people are benefited in using a government regulated paper money than an anonymous digital currency. I don't even see it happening in the future to come.
I think it was the government who will replace paper money with a new version of Money. something ancient definitely be left behind. and it has become a sure thing

Well I agree with you as we can see today we are in the modern era that technology reigns. So, tendency the government will replace or substitute the use of paper money.
And I think bitcoin is the one that they are going to consider on it.



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