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Author Topic: The future of the paper money  (Read 404003 times)
Nasus
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October 21, 2015, 03:25:11 AM
 #141

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 it wont be long now that paper money will be banned and we will be using some other form of thing that we will use in purchasing.
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MasterYii
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October 21, 2015, 03:41:48 AM
 #142

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 heard this before that paper money will be replaced by some other form of money or something people use to buy stuffs.
And whatever it is Im sure people will welcome it and accept it.
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October 21, 2015, 04:13:32 AM
 #143

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 in the future we wont be using paper money anymore in doing transactions or in purchasing something.
We will use some other trend of money.
mordekaiser
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October 21, 2015, 04:28:17 AM
 #144

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?


There will be a new money that people will use in the future maybe not necessarily paper money anymore but some thing very convenient to use that will make life easier.
Nami
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October 21, 2015, 05:24:28 AM
 #145

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 paper money will get replaced by bitcoins and if you collected bitcoins now it is a good advantage for you.
Kevin77
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October 21, 2015, 08:04:58 AM
 #146

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 paper money will get replaced by bitcoins and if you collected bitcoins now it is a good advantage for you.

Yes paper money will be replaced by bitcoin but very slowly as paper money is a part of human life style for many centuries. Already this work has been initiated by credit cards in the form of plastic money. When bitcoin finds more option for physical usage then that's the end of paper money.



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Quinn
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October 21, 2015, 07:41:42 PM
 #147

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 still like paper money over bitcoin.  Bitcoin is the thing now but I still like paper money.
Poppy
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October 21, 2015, 08:58:48 PM
 #148

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 hope paper money will not be banned.  I am wary of bitcoin even with all the things that come with it.
bitcoinmar
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October 21, 2015, 09:03:06 PM
 #149

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 paper money will get replaced by bitcoins and if you collected bitcoins now it is a good advantage for you.
Bitcoin need too much time for replacing paper money specially in developing countries where peoples don't no about this in some countries they never hear about this
Pantheon
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October 21, 2015, 11:37:51 PM
 #150

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 paper money will not be entirely banned.  Even if bitcoin is the currency for now, bitcoin is not subject to any regulations and I think governments would like that.
MasterYii
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October 22, 2015, 01:10:20 AM
 #151

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 it would be gone by one day and be replaced by another. When that time comes I would probably miss paper money.
Miss Fortune
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October 22, 2015, 02:04:12 AM
 #152

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?



It wont be long now that the paper money we use will be a history and we will use a new trend of money or something.
In this time the bitcoins will probably be very popular.
mordekaiser
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October 22, 2015, 02:16:49 AM
 #153

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 paper money will still be here in the future and we will still be using it.
Although right now technology is causing it to go extinct in the future.
wignyopalermo
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October 22, 2015, 11:30:45 AM
 #154

tha paper money is king..
paper money still be here until the goverment changed gold for real transaction.
 Shocked









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n2004al
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October 22, 2015, 02:14:33 PM
 #155

tha paper money is king..
paper money still be here until the goverment changed gold for real transaction.
 Shocked

I thought that me was the worst English writer in all bitcointalk. But I see that I have a strong concurrence. I read about ten times your last sentence, made to many combinations or guess various meanings but yet was unable to understand it. It is a wonderful sentence but incomprehensible for me. Maybe is again my English which is guilty.

Please don't misunderstand me. I'm joking (with myself and with you). But really what you want to tell with your last sentence?

Then you are not wrong with your postulate about the paper money. But you must remember that the Queen (credit/debit card) is more important that the King. But better ask an Englishman about this...  Wink

Waiting your answer about the meaning of the last your sentence. I make myself to many errors in my writings (which correct even after days when happen to read again my posts) so it wouldn't be a problem for you to write something like that...  Cheesy
bitart
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October 22, 2015, 10:12:54 PM
 #156

Maybe (s)he wanted to say that paper money will be here until the government changes the legit currency back to gold coins

(sorry for my english too, I have also learnt this language, but there is always a need to improve, especially like after some rounds of beer with native english speakers, when they think you are native also Smiley )

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October 23, 2015, 09:49:46 AM
 #157


People always opt for additional process as well as secure money because of their life, as well as I believe paper money isn't that thing in the meantime.
If we look for a most secured money then digital money is the right choice.

Already many people world wide started using digital money instead of paper. So, paper money will find it's own way soon. CMIIW

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October 23, 2015, 09:04:32 PM
 #158


People always opt for additional process as well as secure money because of their life, as well as I believe paper money isn't that thing in the meantime.
If we look for a most secured money then digital money is the right choice.

Already many people world wide started using digital money instead of paper. So, paper money will find it's own way soon. CMIIW


You mean digital money will find it's own way soon?
Or both digital and paper?
I have read an interesting story about the monetary crisis in Argentina and in that country people started to use (beside the foreign and stable currencies, like USD, etc) they started to use little gold rings from the jewelry store, to pay for food, services, etc. because of the very high inflation of their paper money.
They just measured their weight of the rings and that value was the base of comparasion for long time.
Some people collect gold jewel today as well because they belive in the value of gold if something happens.

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October 24, 2015, 12:00:01 AM
 #159


People always opt for additional process as well as secure money because of their life, as well as I believe paper money isn't that thing in the meantime.
If we look for a most secured money then digital money is the right choice.

Already many people world wide started using digital money instead of paper. So, paper money will find it's own way soon. CMIIW


You mean digital money will find it's own way soon?
Or both digital and paper?
I have read an interesting story about the monetary crisis in Argentina and in that country people started to use (beside the foreign and stable currencies, like USD, etc) they started to use little gold rings from the jewelry store, to pay for food, services, etc. because of the very high inflation of their paper money.
They just measured their weight of the rings and that value was the base of comparasion for long time.
Some people collect gold jewel today as well because they belive in the value of gold if something happens.

exchange rate with the use of gold will be more stable than fiat money or digital money, when we talk about bitcoin, infrastructure bitcoin is not too strong to make the process of buying and selling in the real market, we can only trade in cyberspace requiring internet connection that stable, not all countries are able to do so
winguard
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October 24, 2015, 06:59:57 AM
 #160

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?


For highly developed countries yes this would be possible. But in some parts of the world where internet access, credit cards bitcoin and even electricity don't exist paper money will always be there as monetary tool.
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