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Author Topic: The future of the paper money  (Read 403528 times)
cambda
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July 23, 2016, 06:22:13 AM

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.

Yeah and people who don't have access to internet will never use bitcoin as it will be a totally new concept for them and people like simple and easy ways to spend money and paper money is the only solution for them.


 
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July 23, 2016, 06:25:05 AM

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.

Well I would say that it is possible to be phase out in the future because of the technology trends that is happening today. But still people are used to use paper money at all and it is very hard for the people to turn to ignore the use of paper money in the future. And yet, we don't know what is going to happen in the future.



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.BITVEST DICE.
HAS BEEN RELEASED!


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July 23, 2016, 06:26:32 AM

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
It will really make people angry when bitcoin will be the only one that will be use and we will eliminate the circulation of paper money. Paper money is very important for the people who are not computer literate as they want to transact in a simple way using paper money.



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tabas
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July 23, 2016, 06:39:34 AM

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
It will really make people angry when bitcoin will be the only one that will be use and we will eliminate the circulation of paper money. Paper money is very important for the people who are not computer literate as they want to transact in a simple way using paper money.

But the government is not going to care at all even people are going to be angry at it. They don't have choice but to follow what is the state is going to say and do. And you are right, it is still a good thing to consider those people who aren't computer literate at all. Because they are going to have hard time in adoption of it.



.
.BITVEST DICE.
HAS BEEN RELEASED!


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July 23, 2016, 06:39:45 AM

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
It will really make people angry when bitcoin will be the only one that will be use and we will eliminate the circulation of paper money. Paper money is very important for the people who are not computer literate as they want to transact in a simple way using paper money.

Yeah but we will be really old by then if not dead already. It still takes a some generations to only have computer literate people on this world. But it will definitely be coming.
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July 23, 2016, 06:57:10 AM

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
It will really make people angry when bitcoin will be the only one that will be use and we will eliminate the circulation of paper money. Paper money is very important for the people who are not computer literate as they want to transact in a simple way using paper money.

Yeah but we will be really old by then if not dead already. It still takes a some generations to only have computer literate people on this world. But it will definitely be coming.


But in the generation today even a 3 year old kid is able to manage to use a tablet or any gadget at all. And for sure it is going to make him develop as he is growing up. So he is going to be computer literate easily with it. And it is going to be a preparation for the adoption of bitcoin and going to forget paper money.



.
.BITVEST DICE.
HAS BEEN RELEASED!


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Rainbot
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July 23, 2016, 08:06:23 AM

Paper money will be used at least a decade more as there are sufficient facilities and support for digital currency to be adopted and accepted widely soon. We have to look at the third world countries where ATM's are not working or available well. Lets say in 20 years from now may be paper money will be swapped with digital currency but not before.
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July 23, 2016, 08:15:08 AM

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!
Yes I agree, many people has already started using only electronic format of money and never touch paper money.
But the community of this kind of people is very thin because only highly educated people can live only with digital money. When all kind of people could use digital money, then paper money will find difficult times.

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July 23, 2016, 12:47:23 PM

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.
Yes, we can assume only when the awareness of bitcoin payment system grows rapidly we can expect bitcoin will take over the importance of paper money. Until then, paper money will keep on existing and serving people with it's own significance.

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July 23, 2016, 12:50:26 PM

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.
Yes, we can assume only when the awareness of bitcoin payment system grows rapidly we can expect bitcoin will take over the importance of paper money. Until then, paper money will keep on existing and serving people with it's own significance.
Yes, paper money will serve regardless of the rapid growth of bitcoin kind of electronic payment systems. Because, as you said paper money has its own significance and convenience to get used by people around the world for centuries. If those significance and services could be offered by any other system, then we can doubt about the survival of paper money.

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July 23, 2016, 01:01:10 PM

From my point of view, paper money will always be available , bitcoin or any virtual coin will not take their place, for the next 30 years at least.
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July 24, 2016, 12:00:05 AM

From my point of view, paper money will always be available , bitcoin or any virtual coin will not take their place, for the next 30 years at least.

Its happening as we speaks, currently people doesnt really use paper money anymore. There are things that we use nowadays, credit card , visa and debit therefore even if cryptocurrency wont be taking lead in providing the world's new monetary system but definitely we wont see paper money for too long now

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July 24, 2016, 03:05:15 AM

Paper money is always safe and there is no threat to it from bitcoin as the users of paper money are more in compare to bitcoin and that will continue in future too.
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July 24, 2016, 03:21:04 AM

I think paper money will last very long time.See, there are many difference in paper money and online cryptocurrency. Everybody find paper money the most safest way for payment.so i think paper money will last a very long time.
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July 24, 2016, 03:46:39 AM

I think paper money will last very long time.See, there are many difference in paper money and online cryptocurrency. Everybody find paper money the most safest way for payment.so i think paper money will last a very long time.

It is not really the safest when you are holding it for it can be robbed at you. But I think it became the basics of trade and everyone is used to it.

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July 24, 2016, 05:02:52 AM

I think paper money will last very long time.See, there are many difference in paper money and online cryptocurrency. Everybody find paper money the most safest way for payment.so i think paper money will last a very long time.

It is not really the safest when you are holding it for it can be robbed at you. But I think it became the basics of trade and everyone is used to it.
I think he was referring here as the safest in the economy, bitcoin might collapse while paper money the risk is too low to happen unless there is a global crisis involving world war. Bitcoin is the not safest in terms of economy because it has just starting to build it's name and it will take time before it wide spread use will occur.

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July 24, 2016, 09:27:12 AM

From my point of view, paper money will always be available , bitcoin or any virtual coin will not take their place, for the next 30 years at least.

Its happening as we speaks, currently people doesnt really use paper money anymore. There are things that we use nowadays, credit card , visa and debit therefore even if cryptocurrency wont be taking lead in providing the world's new monetary system but definitely we wont see paper money for too long now
There is in no way paper money is going to be extinct, since the production of paper money is always there everyday. Although people are using cards for doing their transactions, they still have their equivalents in paper money.

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July 24, 2016, 09:37:47 AM

From my point of view, paper money will always be available , bitcoin or any virtual coin will not take their place, for the next 30 years at least.

Its happening as we speaks, currently people doesnt really use paper money anymore. There are things that we use nowadays, credit card , visa and debit therefore even if cryptocurrency wont be taking lead in providing the world's new monetary system but definitely we wont see paper money for too long now
There is in no way paper money is going to be extinct, since the production of paper money is always there everyday. Although people are using cards for doing their transactions, they still have their equivalents in paper money.

Yup and they are using cards only because they have paper money in their bank accounts, if they don't have fiat then those cards would be useless.
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July 24, 2016, 12:36:58 PM

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 do not necessitate taking loans. It's advisable not to use a credit card if you can't pay for whatever you're buying in full. Anyway, swap out credit card in the above example with debit card and point remains that the vast majority of transactions that take place in our economy are already using electronic money.


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July 24, 2016, 12:39:03 PM

From my point of view, paper money will always be available , bitcoin or any virtual coin will not take their place, for the next 30 years at least.

Its happening as we speaks, currently people doesnt really use paper money anymore. There are things that we use nowadays, credit card , visa and debit therefore even if cryptocurrency wont be taking lead in providing the world's new monetary system but definitely we wont see paper money for too long now
There is in no way paper money is going to be extinct, since the production of paper money is always there everyday. Although people are using cards for doing their transactions, they still have their equivalents in paper money.

Yup and they are using cards only because they have paper money in their bank accounts, if they don't have fiat then those cards would be useless.
We should have both, paper money and bitcoin as they should go together. Bitcoin is still young and we need a lot of time to test this technology and how strong it is even if the crisis, for now we should rely on paper money and even if the next 20 years even if bitcoin is more develop that time.



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