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Author Topic: The future of the paper money  (Read 403663 times)
freedomgo
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July 06, 2016, 01:53:56 AM
 #1341

If bitcoin gains physical form then it can give tough competition to paper money in future as people have more faith in something that they can hold physically.

That is impossible that bitcoin is going to be on a physical form, then it is going to be fiat at all. No bitcoin is going to be digital at all.
That's the characteristic of bitcoin, is by a digital form.
I hope people will going to adopt bitcoin also but still the future of paper money is going to be the same at all.
It should be digital because it is bitcoin that is known for and because it is digital it would be easy and faster to use it in transaction online, we should not dream for that to happen as it is impossible for that to occur.



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July 06, 2016, 03:08:54 AM
 #1342

The future of the paper money will not be very good but most likely also not very bad because its will always be used.
As a example elderly will always use paper money no matter what if your asking me.
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July 06, 2016, 04:07:23 AM
 #1343

The future of the paper money will not be very good but most likely also not very bad because its will always be used.
As a example elderly will always use paper money no matter what if your asking me.

What are your thoughts? How can you say that the future of paper will not be very good? Share it and let's discuss.

Also it will surely always be used even for centuries, even only not for the old folks.


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July 06, 2016, 04:25:52 AM
 #1344

The future of the paper money will not be very good but most likely also not very bad because its will always be used.
As a example elderly will always use paper money no matter what if your asking me.

What are your thoughts? How can you say that the future of paper will not be very good? Share it and let's discuss.

Also it will surely always be used even for centuries, even only not for the old folks.

Thats the truth. For it is the easiest eay to trade things. Plus you are holding it in your hands. We people are more on things that we can see and hold. We dont believe much in the unseen.
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July 06, 2016, 05:19:14 AM
 #1345

I think Paper money is more important and will be there however the digitization has started to take place. Everywhere there will be some people who don't have interest over the digitization.
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July 06, 2016, 05:20:36 AM
 #1346

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
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July 06, 2016, 05:58:25 AM
 #1347

I think Paper money is more important and will be there however the digitization has started to take place. Everywhere there will be some people who don't have interest over the digitization.
Although we are going digital but it cannot disrupt the market of paper money, the government supported paper money and they created it so they will not allow bitcoins to replace it.

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July 06, 2016, 06:39:50 AM
 #1348

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
you are right. paper money may still survive, and will always be used, because it is based on how it is used alone, paper money is still easier to use than the coins. but I am not sure that bitcoin someday be in shape in the form of coins, but probably bitcoin will be created in the form of a card, because credit cards can be used as an alternative payment. bitcoin might also like it

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July 06, 2016, 11:55:31 AM
 #1349

I think Paper money is more important and will be there however the digitization has started to take place. Everywhere there will be some people who don't have interest over the digitization.

If only bitcoin is physically seen. You pay it or give it to a poor man and he might throw it back to you. Try giving a paper money. A dollar or more, and surely you will put a smile on that person.

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July 06, 2016, 12:31:20 PM
 #1350

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?



t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
You can earn money with it if you are going to sell it and that will be very good. But you have to wait longer.
Because we all think that it will be more worth and that can be really nice.
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July 06, 2016, 12:39:33 PM
 #1351

Just yesterday I had a conversation with a person who studied economy and finances at a University. He said that any Economic system to work propoerly needs some inflation. Since Bitcoin is a deflationary currency by design he said there's no way Bitcoin would replace all the money in the world.
You should ask him next time what he means by "working properly"
Easy to prove if your shoving Keynesian nonsense down people's throats, "working properly" could define the conversation, and if your friend thinks Keynesian theory, or the way governments currently run is "working properly" and well, then that would be the place to start the conversation, otherwise it'll be difficult getting anywhere with the other stuff.
Our systems of governance are pretty poor and  and our politics hasn't advanced much from monkey/ape/primates in the wild tbh. The best crafters of political systems in history in my opinion were not overconfident and designed with human beings limitations and failings in mind.

As for digital vs physical - good money is fungible that is easilly divisible and transferable.
With the blockchain structure allowing for digital scarcity that is enforceable, digital takes the cake over physical.
I do sometimes worry though that some tight a55 proficient at being innept government will use try to use digital currencies to be more controlling, intrusive and hungry to monitor and pry into people's lives.
The people running this world are, by and large, a bunch of oxymoronic selfish idiots, massive and intrusive gov surveillance causes more fear and induces more anxiety than idiots who blow themselves up around others and do other insane and very difficult to stop acts. I'd rather live in a world with less control, monitoring, fear mongering, and inept foreign intervention/meddling/wars and a higher risk that some crazy might try to kill me for no good reason, because honestly it just seems like a very very low probability in comparison, and if someone is determined to do that, they probably can, not that they won't be taken in soon after and get away with it, fortunately they won't, additionally a tiny tsa and smaller focus and spending on antiterrorist stuff and our bloated and silly militaries would free up a lot of the budget to actually get on with the business of living well.
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July 06, 2016, 12:41:45 PM
 #1352

Paper money is going to dissapear eventually (i'd say within the next 15 years). Everybody is using their credit/debit cards, you can get memberships to buy whatever you want with another card. I think is a matter of time until bitcoin becomes a currency that you can use freely with a card

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July 06, 2016, 12:44:16 PM
 #1353

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
i doubt that paper money will always stay around, in my opinion the price of the bitcoin is going to grow and i think that people will switch from paper money to bitcoins
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July 06, 2016, 12:51:30 PM
 #1354

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
i doubt that paper money will always stay around, in my opinion the price of the bitcoin is going to grow and i think that people will switch from paper money to bitcoins
are people ready for this transition though im not too sure.... Most people still dont know about bitcoin

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July 06, 2016, 01:22:23 PM
 #1355

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
i doubt that paper money will always stay around, in my opinion the price of the bitcoin is going to grow and i think that people will switch from paper money to bitcoins
are people ready for this transition though im not too sure.... Most people still dont know about bitcoin
We are not ready,nobody is ready maybe except some people who know bitcoin very very well.
If BTC can become a future of paper money,it will happen in i dont know 30 years? i dont really believe people will want to get rid of paper money,it is an old idea,old idea's usually hold strong in people's mind.

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July 06, 2016, 01:24:34 PM
 #1356

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
i doubt that paper money will always stay around, in my opinion the price of the bitcoin is going to grow and i think that people will switch from paper money to bitcoins
are people ready for this transition though im not too sure.... Most people still dont know about bitcoin
We are not ready,nobody is ready maybe except some people who know bitcoin very very well.
If BTC can become a future of paper money,it will happen in i dont know 30 years? i dont really believe people will want to get rid of paper money,it is an old idea,old idea's usually hold strong in people's mind.

Paper money will always exist as bitcoin is not yet that powerful that it can replace strong currency like paper money as it holds more trust and more users in compare to bitcoin.
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July 06, 2016, 01:47:00 PM
 #1357

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
What will the future bring for us and the paper money off course there are so many people using the bitcoin right now but i dont know what they will use
inthe future i think they would use paper money instead of bitcoins for sure.
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July 06, 2016, 02:13:55 PM
 #1358

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?


 Banning is possible to first world countries but saying the word entirely would be possible.  Fiat currency will still be alive and controlled by the government and it will still exist to third world countries. This is not possible to happen to third world countries with very slow internet connect ion.

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July 06, 2016, 02:26:11 PM
 #1359

i think paper money will stay always and paper money are using in large number in everywhere and i also like paper money than coins .
i doubt that paper money will always stay around, in my opinion the price of the bitcoin is going to grow and i think that people will switch from paper money to bitcoins
are people ready for this transition though im not too sure.... Most people still dont know about bitcoin
We are not ready,nobody is ready maybe except some people who know bitcoin very very well.
If BTC can become a future of paper money,it will happen in i dont know 30 years? i dont really believe people will want to get rid of paper money,it is an old idea,old idea's usually hold strong in people's mind.

Paper money will always exist as bitcoin is not yet that powerful that it can replace strong currency like paper money as it holds more trust and more users in compare to bitcoin.

I think the usage of paper money will be decreased in the next 50 years as the percentage of people who constantly have always paper money in their pockets decreased or at least the level of money they use decreased.
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July 06, 2016, 03:06:02 PM
 #1360

Paper money is going to keep existing because do you know how many countries or not ready for only digital money, paper money is just allot handier then everything being digital.
This is also going to give out the information of what we as people buy and I do not like that either.
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