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Author Topic: The future of the paper money  (Read 414589 times)
Whosdaddy
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July 22, 2016, 03:02:12 PM
 #1481

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
Bitcoin has all the potential to replace paper money. But the question is what is the level of understanding about bitcoin by people and how many people from around the globe are having awareness on bitcoin payment system. Without any proper answers for above questions, it is highly insane if we are expecting bitcoin to replace paper money.

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July 22, 2016, 03:22:32 PM
 #1482

I travel a lot in last month. I see that paper money is near to be banned to a lot of governement that looks for be sure that people pay all the due in taxes. I was in italy for example, and i cannot pay forc cash a Luis Vuitton bag because it coste over 1000 euro. Such a stupid thing!

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July 22, 2016, 03:23:03 PM
 #1483

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
Bitcoin has all the potential to replace paper money. But the question is what is the level of understanding about bitcoin by people and how many people from around the globe are having awareness on bitcoin payment system. Without any proper answers for above questions, it is highly insane if we are expecting bitcoin to replace paper money.
Bitcoin is actually not that popular, some of the users of bitcoins are from the major countries only like USA, EUROPE, and CHINA. If we want to see bitcoin to be a popular global currency we also need to see some countries adopting with bitcoins.

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July 22, 2016, 03:48:24 PM
 #1484

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
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July 22, 2016, 04:23:25 PM
 #1485

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

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July 22, 2016, 04:45:03 PM
 #1486

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

Yeah and  people who are not aware about latest technology will never entertain bitcoins, as they resist  change and they feel that its an waste of time and money.
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July 22, 2016, 05:16:14 PM
 #1487

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

Yeah and  people who are not aware about latest technology will never entertain bitcoins, as they resist  change and they feel that its an waste of time and money.

People that doesnt know how to use computer or any gadget is the first one to ignore digital currency.  Another batch is people that are comfortable with using paper money as their means of payment will also ignore digital currency.  Even if how high technology some country are, there are still lots of area that will be left behind.  That is why paper money will be and always be around. If not in one country maybe in another one.

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July 22, 2016, 05:24:30 PM
 #1488

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

Yeah and  people who are not aware about latest technology will never entertain bitcoins, as they resist  change and they feel that its an waste of time and money.

People that doesnt know how to use computer or any gadget is the first one to ignore digital currency.  Another batch is people that are comfortable with using paper money as their means of payment will also ignore digital currency.  Even if how high technology some country are, there are still lots of area that will be left behind.  That is why paper money will be and always be around. If not in one country maybe in another one.
Yeah right there is a place here that we dont have internet even a signal to our cellphones..
so we are still using fiat instead..

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July 22, 2016, 11:22:25 PM
 #1489

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.
yeah it is possible that we will get some digital currency or e-money,but believe me,it wont be a bitcoin.
Humanity is not ready yet for such a change,and bitcoin is too young for it.We will have something else.

I think that will be bitcoin, as bitcoin is going to become more famous in the online world and going to be the master of all digital currencies. and if the governments would like to adopt any virtual currency then they will adopt bitcoin as bitcoin is ready-made currency for them and is more advanced.

That will never happen that government will adopt bitcoin as a primary currency replacing their own currency on which they have total control.

If the bitcoin can cut the cost of banking, banks will adopt the bitcoin and force governments to do that.

The "cost of banking" is the bank's profit margin, so is it your position that banks are going to adopt Bitcoin and cut themselves out of profit? Cuz that doesn't make much sense to me.


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July 22, 2016, 11:23:54 PM
 #1490

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

If you've ever bought anything with a credit card, you've used digital money. It's not hard at all. Most the transactions that take place in America are digital transactions.


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July 23, 2016, 01:09:32 AM
 #1491

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

If you've ever bought anything with a credit card, you've used digital money. It's not hard at all. Most the transactions that take place in America are digital transactions.

Of course it is happening to places with a high technology. They can afford it. But still there are countries who dont trust on a credit card. They think if they have that kind of thing that they know they can use even if they dont have money yet, they might abuse it. And of course banks would love that. If you think about it, it is also a marketing strategy or a robbery.   Grin

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July 23, 2016, 03:04:52 AM
 #1492

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

If you've ever bought anything with a credit card, you've used digital money. It's not hard at all. Most the transactions that take place in America are digital transactions.

Of course it is happening to places with a high technology. They can afford it. But still there are countries who dont trust on a credit card. They think if they have that kind of thing that they know they can use even if they dont have money yet, they might abuse it. And of course banks would love that. If you think about it, it is also a marketing strategy or a robbery.   Grin
Credit cards are made to give convenience to the holder but sometimes we are just tempted to use it to buy things that we cannot afford and it will max our our credit limit. The sad thing will start after you are going to pay the amortization because it is pretty sure that you will start to pay our from your budget.

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July 23, 2016, 04:43:02 AM
 #1493

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.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.
I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

If you've ever bought anything with a credit card, you've used digital money. It's not hard at all. Most the transactions that take place in America are digital transactions.

Of course it is happening to places with a high technology. They can afford it. But still there are countries who dont trust on a credit card. They think if they have that kind of thing that they know they can use even if they dont have money yet, they might abuse it. And of course banks would love that. If you think about it, it is also a marketing strategy or a robbery.   Grin
Credit cards are made to give convenience to the holder but sometimes we are just tempted to use it to buy things that we cannot afford and it will max our our credit limit. The sad thing will start after you are going to pay the amortization because it is pretty sure that you will start to pay our from your budget.

well, all of these things are good and were made to make our life easier but the fact is that many people use them without thinking properly and that is why you can see many people having huge credit card debts.

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July 23, 2016, 04:56:52 AM
 #1494

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.


                ,╓▄▄▄▄▄▄▄▄▄╓                 
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July 23, 2016, 05:28:02 AM
 #1495

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.

I think, paper money will be there forever in the future, but usage may reduce drastically. I don't this paper money will disappear just because everyone prefers to pay through cards.

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.

There are many people around us, who has lost bitcoins because either their accounts have been hacked, or they might have lost their login details which can't even recover back. So it all depends on people how safely they keep things.

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>_FOR


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July 23, 2016, 05:46:03 AM
 #1496

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.


Well it means that the future of paper money is going to be gone for sure. Because people tend to use more convenient things rather than things that gives them hassle. And paper money is just going to make trees cut down. Unlike bitcoin or digital currency they don't have to convert trees into paper money.



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July 23, 2016, 05:46:20 AM
 #1497

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.

That's true but almost all people are earning their salary in fiat and it will continue in future too, so I don't think that paper money will simply disappear in future.


 
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July 23, 2016, 05:50:54 AM
 #1498

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.
Debit card is only good for online transaction or people who can afford to have it, usually this people belongs to the top and middle class. So if you would think of the lower class, some of them has no decent job so they would still prefer for paper money.

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July 23, 2016, 05:52:04 AM
 #1499

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.

That's true but almost all people are earning their salary in fiat and it will continue in future too, so I don't think that paper money will simply disappear in future.

I agree , paper money would be difficult to disappear in future since we used it for how many years and its the traditional way.  Even bitcoin exist but it couldnt replace paper money in everyday living. Most of the people would prefer using paper money than bitcoin itself. Paper money in future would stood still even if there are other  competencies out there.

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July 23, 2016, 06:14:14 AM
 #1500

I think the future of paper money would have been visible. you can see how people prefer to pay using debit cards instead of paper money.

That's true but almost all people are earning their salary in fiat and it will continue in future too, so I don't think that paper money will simply disappear in future.

I agree , paper money would be difficult to disappear in future since we used it for how many years and its the traditional way.  Even bitcoin exist but it couldnt replace paper money in everyday living. Most of the people would prefer using paper money than bitcoin itself. Paper money in future would stood still even if there are other  competencies out there.
you're right, how well-known bitcoin will definitely not be able to replace paper money that has become a tradition for a long time. have very many people who collect paper money in the bank, at home, or in a safe place just for their future. I guess if it all suddenly changed using bitcoin or digital money, well, maybe the economic crisis will happen, besides, it would make people become angry, but if it is only used as an alternative, maybe everything will be fine

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