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Author Topic: The future of the paper money  (Read 403666 times)
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July 21, 2016, 06:13:09 AM
 #1461

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.

If we are talking future of course we are going to see that what is going to happen for that time. And we all know that technology conquers all over the manual and basic requirements on this worlds , processes and for sure in monetary unit. Technology is going to conquer it, so the future of paper money is going to be out.



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July 21, 2016, 06:24:30 AM
 #1462

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.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.
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July 21, 2016, 06:29:35 AM
 #1463

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.

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July 21, 2016, 06:37:44 AM
 #1464

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

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July 21, 2016, 06:40:44 AM
 #1465

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would  contribute and developed in the future.

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July 21, 2016, 08:25:38 AM
 #1466

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.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends,  younger generations may want their card  so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period...  Grin

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July 21, 2016, 08:40:33 AM
 #1467

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would  contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.


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July 21, 2016, 12:45:55 PM
 #1468

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.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends,  younger generations may want their card  so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period...  Grin

Yeah you are right. But any government would prefer electronic money to paper money as the control abilities are much higher for virtual currencies. For example now negative interest rates for consumers are just not feasible as the consumer would just pick up the money and store it at home.
With virtual currencies there is no way around it anymore.

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July 21, 2016, 02:12:54 PM
 #1469

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would  contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

bluetooth and scanning can be used without internet. and if ever the government made their own digital currency
they would consider everything speed of transaction,features of the coin in question,efficiency,security etc..
internet wont be the main factor on a transaction if the government made a digital currency.


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July 21, 2016, 02:22:53 PM
 #1470

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would  contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

The fact is both will survive in long run and people will use both of them according to their convenience as I don't think that bitcoin can ever take place of paper money.
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July 22, 2016, 02:09:23 AM
 #1471

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.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would  since theres no possibility that bitcoin could replace paper money since btc was made of codes  it a different story and shouldnt be compare.
In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would  contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

The fact is both will survive in long run and people will use both of them according to their convenience as I don't think that bitcoin can ever take place of paper money.
Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, that is far faster than any inter-bank transfer and survives for long. Paper money is the old one that remains the same and cannot be replaced by bitcoin.

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July 22, 2016, 07:32:52 AM
 #1472

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, that is far faster than any inter-bank transfer and survives for long. Paper money is the old one that remains the same and cannot be replaced by bitcoin.

some governments are also developing their own digital currency to speed up transmission and reduce cost.

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July 22, 2016, 07:47:39 AM
 #1473

bluetooth and scanning can be used without internet. and if ever the government made their own digital currency
they would consider everything speed of transaction,features of the coin in question,efficiency,security etc..
internet wont be the main factor on a transaction if the government made a digital currency.

Governments already have digital monies. It is the same fiat money existing only in digital form. In fact, the cashless form is overwhelming by amount, paper money makes up only a tiny percentage of all money in circulation in today's economies

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July 22, 2016, 08:13:55 AM
 #1474

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.
I think the paper money will not be replaced by other banknotes version but will be replaced by something more sophisticated like digital currency. perhaps currencies like bitcoin could take over

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July 22, 2016, 09:34:00 AM
 #1475

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

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July 22, 2016, 09:37:46 AM
 #1476

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Last time, helicoptered money ran directly into gold and silver. I don't think this time it will be much different, but Bitcoin may well get its due share of "easy" money

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July 22, 2016, 09:38:07 AM
 #1477

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.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends,  younger generations may want their card  so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period...  Grin
Most valid reason so far. Although we're in a progressive development of technology if other people choose to have their own simple way of living like sticking on what they already know which is fiat, it won't make the paper money obsolete.
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July 22, 2016, 12:26:38 PM
 #1478

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.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends,  younger generations may want their card  so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period...  Grin
Most valid reason so far. Although we're in a progressive development of technology if other people choose to have their own simple way of living like sticking on what they already know which is fiat, it won't make the paper money obsolete.
As of today's current state of the economy, I don't think paper money will be lose in circulation. Paper money is the simplest bill to use in majoirity of transactions in our life, bitcoins is great but having different options to spend is way more better.



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July 22, 2016, 02:07:15 PM
 #1479

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Well you are right people are looking for a safe currency which is going to give them convenience at all. And with paper money there are robbers that are going to hunt you down if you are going to hold a lot of money. But with bitcoin it is safe on your bitcoin wallet.



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July 22, 2016, 02:20:57 PM
 #1480

It will be a long time before paper money is no longer used.
Everyone would need a device with them (smartphone etc) that can send and receive payments.
It will happen one day though. People already use credit cards and pay with their smartphone app.

And just because currency is digital, doesn't mean you are safe from getting robbed!
In the future we will see people being held at gunpoint until they reveal the password to the account,
and hackers stealing money online instead of bank robbers running away with an armored car full of cash!

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