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Author Topic: The future of the paper money  (Read 403612 times)
Zadicar
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July 20, 2016, 01:33:38 AM
 #1441

Traditional money in the near future will lose its function universal means of payment and will be replaced by electronic money. The main difficulty rejection of coins and banknotes lies not in the level of technology and in human psychology.
In e-money has a number of advantages and disadvantages. Banks and other electronic payments, bills and small change than financial institutions are much cheaper and easier to operate. The development of e-commerce further accelerates the process of eliminating the traditional money.
In the future it could happen, I know digital currency or e-money will rule the world as it gives us the convenience to transact online, and it would be easy to trace our transaction but paper money will not be out in the circulation.

But even then, you're talking about e-money in a form controlled by the government. Our economy and banking system is largely electronic already, but the control of the supply is still down top-down, from the Federal Reserve and the banking institutions it oversees.
That is the reason for bitcoin cannot be a future for paper money,at least that is my theory.
It cannot be,because bitcoin isnt controlled in anyway,by anyone.
So goverment would not let to erase the paper money,to get some crypto-currency,that they cannot even control in any way.
Yes it will be tough.  But btc will surely minimize the use of paper money. Coz it has many benefits over paper money. The govt won't let it happen and that's why it won't full replace paper money


The future of paper money is always the same, maybe the designs are going to change but the use of it is going to be there. And even the bitcoin is going to the trend. It is not going to change the use of paper money. Because paper money is being controlled by the government unlike bitcoin government is not going to control it.
Paper money is going to keep existing for a while because I think that we are just not ready yet for money to be only digital.
In the future they are going to make the change but they do not have to rush things.
The adoption period is long because a person needs to be educated enough before they can adopt with bitcoins and we know that bitcoins is not that simple which paper money is, as of the current rate paper money will dominate in the circulation and we are just few using bitcoins.
Bitcoin is absolutely complicated compared to paper money, as he said adoption period would take a long time because everyone should know Bitcoin first, what's the usage and how to use it. As we all know that not all people have the same intellect regarding on how to adopt things easily.

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July 20, 2016, 01:38:18 AM
 #1442

Many countries around the world tend to encourage their people to use credit and debt cards in their spending because it can cut the spending of printing money. And I think it is just a matter of time before they stop using it at all specially in the developed countries
hell yeah. paper money have not a good future as the things are getting easier and in nearly future people will don't need to use paper money.
as you said people can easily spend their money through credit/debt card and can buy pretty much everything. and govt also like this because creating paper money is not easy though and world is getting easy day by day. after online banking and digital currency the situation is become more easier.
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July 20, 2016, 05:24:22 AM
 #1443

Many countries around the world tend to encourage their people to use credit and debt cards in their spending because it can cut the spending of printing money. And I think it is just a matter of time before they stop using it at all specially in the developed countries
hell yeah. paper money have not a good future as the things are getting easier and in nearly future people will don't need to use paper money.
as you said people can easily spend their money through credit/debt card and can buy pretty much everything. and govt also like this because creating paper money is not easy though and world is getting easy day by day. after online banking and digital currency the situation is become more easier.
In the future when we are fully adopted to a digital world, transactions are very fast and paper money will be lessened in terms of demand but will not completely disappear in the market as there are part of this world that does not have internet which is the basic need to transact.



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July 20, 2016, 05:38:30 AM
 #1444

Many countries around the world tend to encourage their people to use credit and debt cards in their spending because it can cut the spending of printing money. And I think it is just a matter of time before they stop using it at all specially in the developed countries
hell yeah. paper money have not a good future as the things are getting easier and in nearly future people will don't need to use paper money.
as you said people can easily spend their money through credit/debt card and can buy pretty much everything. and govt also like this because creating paper money is not easy though and world is getting easy day by day. after online banking and digital currency the situation is become more easier.
In the future when we are fully adopted to a digital world, transactions are very fast and paper money will be lessened in terms of demand but will not completely disappear in the market as there are part of this world that does not have internet which is the basic need to transact.

That will be a cashless society and people tend to throw all their paper money because it is not going to be needed at all.
Because people tends to like more convenient use of money for their transactions.
And as well as buying of anything they want for shopping.



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July 20, 2016, 05:45:01 AM
 #1445

Since there are petitions from environmentalist for companies to adopt a "paperless office", I am not going to be surprised to see if a country will start implementing or demonitizing the paper money. if you go to countries like Indonesia and Vietnam, you will be surprised to know that there's a lot of millionaires there because of the value of their money is low, so if they plan to buy something that is expensive expect them to bring a lot of paper money.

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July 20, 2016, 06:15:33 AM
 #1446

Since there are petitions from environmentalist for companies to adopt a "paperless office", I am not going to be surprised to see if a country will start implementing or demonitizing the paper money. if you go to countries like Indonesia and Vietnam, you will be surprised to know that there's a lot of millionaires there because of the value of their money is low, so if they plan to buy something that is expensive expect them to bring a lot of paper money.

Well for sure it is going to be a paperless society in the future and the use of paper money is going to be out of the league.
And since the environmentalist are petitioning for paper less for sure it is going to be granted.
So we are going to be paperless world in the future.



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July 20, 2016, 07:41:48 AM
 #1447

Since there are petitions from environmentalist for companies to adopt a "paperless office", I am not going to be surprised to see if a country will start implementing or demonitizing the paper money. if you go to countries like Indonesia and Vietnam, you will be surprised to know that there's a lot of millionaires there because of the value of their money is low, so if they plan to buy something that is expensive expect them to bring a lot of paper money.

Well for sure it is going to be a paperless society in the future and the use of paper money is going to be out of the league.
And since the environmentalist are petitioning for paper less for sure it is going to be granted.
So we are going to be paperless world in the future.
Yeah! and that would help to fast track the transaction and to easily trace any irregularities as we can check the history of transactions of a certain holders or owners. This would make the world of the AMLC easier for sure.

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July 20, 2016, 08:43:18 AM
 #1448

Since there are petitions from environmentalist for companies to adopt a "paperless office", I am not going to be surprised to see if a country will start implementing or demonitizing the paper money. if you go to countries like Indonesia and Vietnam, you will be surprised to know that there's a lot of millionaires there because of the value of their money is low, so if they plan to buy something that is expensive expect them to bring a lot of paper money.

Well for sure it is going to be a paperless society in the future and the use of paper money is going to be out of the league.
And since the environmentalist are petitioning for paper less for sure it is going to be granted.
So we are going to be paperless world in the future.

And when will be that time? When we lay and rotting?  Grin I dont know why, but I still dont see that happening. It is all at the movies but never in this real life. People are still walking or running in the streets. There is also poor people just wandering outside. How can you see something like that with this environment?
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July 20, 2016, 01:21:18 PM
 #1449

Paper money is going to keep existing for a long time is what i think because i do not believe that we are ready for such a big change yet.
We need to take our time because hurrying things will cause allot of trouble and imperfection.
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July 20, 2016, 02:29:18 PM
 #1450

Paper money is not going anywhere I think that it will maybe disappear over 30 years or so because I do not see any reason why they should do it now.
Paper money is handy and we still have a bit of privacy because of it.
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July 20, 2016, 02:38:01 PM
 #1451

Paper money is not going anywhere I think that it will maybe disappear over 30 years or so because I do not see any reason why they should do it now.
Paper money is handy and we still have a bit of privacy because of it.

Yeah paper money will never disappear as  there are many users who are comfortable in using it and they are used to it and same trend will be continue in future too.


 
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July 20, 2016, 02:56:15 PM
 #1452

Since there are petitions from environmentalist for companies to adopt a "paperless office", I am not going to be surprised to see if a country will start implementing or demonitizing the paper money. if you go to countries like Indonesia and Vietnam, you will be surprised to know that there's a lot of millionaires there because of the value of their money is low, so if they plan to buy something that is expensive expect them to bring a lot of paper money.

Well for sure it is going to be a paperless society in the future and the use of paper money is going to be out of the league.
And since the environmentalist are petitioning for paper less for sure it is going to be granted.
So we are going to be paperless world in the future.

There are lots of alternatives if people are caring for the environment. Paper money can be transferred to any physical thing to save trees if they are really concern. Paper money or fiat is important since most of the transactions are physical and direct which isn't possible in bitcoin especially if there's no internet available.


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July 20, 2016, 02:56:42 PM
 #1453

Paper money is not going anywhere I think that it will maybe disappear over 30 years or so because I do not see any reason why they should do it now.
Paper money is handy and we still have a bit of privacy because of it.
It's true that paper money won't exist much longer but the reason is not as what you said, the most probable reason is because the economic system of our money will crash because of the continuous debt that every country's making. Means if country has bigger debt = to make more paper money, making more moey will result to = deflation.
https://en.wikipedia.org/wiki/List_of_countries_by_public_debt
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July 20, 2016, 02:59:39 PM
 #1454

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.
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July 20, 2016, 04:12:09 PM
 #1455

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.

That could be right. But there is no need for the bitcoin to have physical form. As long as you have smart phone, you can pay with it.

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July 21, 2016, 04:32:18 AM
 #1456

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.

That could be right. But there is no need for the bitcoin to have physical form. As long as you have smart phone, you can pay with it.
Internet is the basic for bitcoin, without internet we cannot transact because it is an internet money where we can use with our transactions. In the future, paper money will be less demand and that will only happen when the adoption will increase.



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July 21, 2016, 05:28:49 AM
 #1457

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.

That could be right. But there is no need for the bitcoin to have physical form. As long as you have smart phone, you can pay with it.

Yes that is the characteristic of bitcoin that it is an online currency or digital currency and you don't have to have it on a physical form.
It is a very basic cashless way of living or paying out anything that you are going to buy. And bitcoin that surely kill the paper money
in the near future.



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July 21, 2016, 05:30:40 AM
 #1458

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.

That could be right. But there is no need for the bitcoin to have physical form. As long as you have smart phone, you can pay with it.
Internet is the basic for bitcoin, without internet we cannot transact because it is an internet money where we can use with our transactions. In the future, paper money will be less demand and that will only happen when the adoption will increase.
We would see less and less paper money in circulation once people are more comfortable doing most of their transactions online. There will be those who would still prefer using paper money because they are so used to it already while for those who want to make their transactions less hassle-free and more efficient, digital money is the way to go.
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July 21, 2016, 05:37:40 AM
 #1459

The future of paper money can only be at risk if bitcoin gains physical form in future and  if that happens then majority of users will prefer to use bitcoin.

That could be right. But there is no need for the bitcoin to have physical form. As long as you have smart phone, you can pay with it.
Internet is the basic for bitcoin, without internet we cannot transact because it is an internet money where we can use with our transactions. In the future, paper money will be less demand and that will only happen when the adoption will increase.
We would see less and less paper money in circulation once people are more comfortable doing most of their transactions online. There will be those who would still prefer using paper money because they are so used to it already while for those who want to make their transactions less hassle-free and more efficient, digital money is the way to go.

This is really going to happen in the future. People wants to have convenience in their transactions that's why they are going to choose bitcoin instead of paper money. And the use of paper money will phase out because people are more convenient in using it. And it cannot be robbed easily by those lazy snatchers.



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bitcoinisfurture
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July 21, 2016, 05:38:49 AM
 #1460

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.
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