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Author Topic: The future of the paper money  (Read 403593 times)
sempak
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July 24, 2016, 12:39:49 PM
 #1521

paper money there will continue to be used until whenever. because the current development of digital currency is still not up to the lowest level. financial transaction people in some regions are still 100% use of paper money.

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July 24, 2016, 12:41:34 PM
 #1522

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.

I'll be interested to see what Bitcoin does in the next financial crisis. Everyone here seems to think it will become insanely valuable like gold, but I think it will have the opposite effect and decrease drastically in price due to the risky nature of holding it. In a crisis, there will be a flight from the most risky assets to the safest, and that means major outflows from Bitcoin.


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July 24, 2016, 01:16:39 PM
 #1523

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.
Yes, when people are moving towards debit or credit cards, how we can expect them to use paper money. So, I feel the difficult time for paper money already has started. Because, almost all the people are having ATM/bank cards in my country for example.

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July 24, 2016, 01:33:07 PM
 #1524

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.

I'll be interested to see what Bitcoin does in the next financial crisis. Everyone here seems to think it will become insanely valuable like gold, but I think it will have the opposite effect and decrease drastically in price due to the risky nature of holding it. In a crisis, there will be a flight from the most risky assets to the safest, and that means major outflows from Bitcoin.
Well, I will looking forward to that because I am gonna buy a lot of bitcoins when crisis happens, it feels good to buy cheap bitcoins and by doing that is not because I am crazy but that is because I believe in the future of bitcoins even if crisis will happen.

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July 24, 2016, 05:33:31 PM
 #1525

very honestly the importance of paper money cannot be ignore not in prest time and not in future. although it is a fact that a time will come when most of the people will give preference to bitcoin must of the people will use bitcoin but still the importance of  bitcoin cannot be ignore.
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July 24, 2016, 05:55:20 PM
 #1526

paper money there will continue to be used until whenever. because the current development of digital currency is still not up to the lowest level. financial transaction people in some regions are still 100% use of paper money.
well yeah but this will change in the near future, in my opinion people in like a few decades will be using bitcoins more than paper money, i hope it will make me money

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July 24, 2016, 08:41:59 PM
 #1527

i think it s the need of the time and it is almost impossible that the importance of bitcoin can be ever lost. because 100 percent of bitcoin user in this world is impossible.
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July 24, 2016, 10:12:10 PM
 #1528

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 doubt that paper money will go completely extinct because some people will still want to use it and decide not to go with bitcoins though i think that popularity of it will decrease significantly as people will start using it less and less because of adopting bitcoin
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July 24, 2016, 11:07:12 PM
 #1529

very honestly the importance of paper money cannot be ignore not in prest time and not in future. although it is a fact that a time will come when most of the people will give preference to bitcoin must of the people will use bitcoin but still the importance of  bitcoin cannot be ignore.
Paper money is very powerful in the current situation. eve though bitcoin is widely used paper money is still gonna reamain in the world.
It can be used in the place where there is no internet access. Many poor countries will have to use it
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July 24, 2016, 11:10:20 PM
 #1530

I don't know what will happen to paper money in 10 years but i am sure that people will use it anyway cause it's something very native to every human.

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July 25, 2016, 01:04:41 AM
 #1531

I don't know what will happen to paper money in 10 years but i am sure that people will use it anyway cause it's something very native to every human.
We know already what will happen because there is no big threat right now that would eliminate paper money in the circulation and even if bitcoin is moving fast but still cannot let that happen to eliminate the use of paper money. The population is huge to get them to adopt.

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July 25, 2016, 01:47:34 AM
 #1532

I don't know what will happen to paper money in 10 years but i am sure that people will use it anyway cause it's something very native to every human.
We know already what will happen because there is no big threat right now that would eliminate paper money in the circulation and even if bitcoin is moving fast but still cannot let that happen to eliminate the use of paper money. The population is huge to get them to adopt.


As of now there is no threat at all because people tend to use and choose still paper money. But when we are talking about the future.
For sure what is going to happen is that you are going to see that the mass adoption of a digital currency or simply as bitcoin.
And that will going to make paper money gone.



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July 25, 2016, 02:35:13 AM
 #1533

You can't ban paper moneys. Because that's an international Cash. Anywhere in this world is using Paper money and also Coins. You have to accept it. But if Cryptocurrency will rise and if this will be an international money, then that's good. But I assured that this Cryptocurrency can ban paper money. Because how about the Rural Areas ? How about the places without internet ? How about the people who didn't still know what is Bitcoin ? Maybe after 50-100 Years I think, All currencies will be digital and all things will be bought online.

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July 25, 2016, 02:43:52 AM
 #1534

You can't ban paper moneys. Because that's an international Cash. Anywhere in this world is using Paper money and also Coins. You have to accept it. But if Cryptocurrency will rise and if this will be an international money, then that's good. But I assured that this Cryptocurrency can ban paper money. Because how about the Rural Areas ? How about the places without internet ? How about the people who didn't still know what is Bitcoin ? Maybe after 50-100 Years I think, All currencies will be digital and all things will be bought online.

Maybe less than we are expecting as there are activists out there pushing for paperless society. Government can save a lot of money as well they stop the circulation of paper money and start adapting using online payment or use of smart phone but you are right that there are areas like the rural areas that may not be able to use online payment because of slow or no internet connection at all.
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July 25, 2016, 03:53:54 AM
 #1535

You can't ban paper moneys. Because that's an international Cash. Anywhere in this world is using Paper money and also Coins. You have to accept it. But if Cryptocurrency will rise and if this will be an international money, then that's good. But I assured that this Cryptocurrency can ban paper money. Because how about the Rural Areas ? How about the places without internet ? How about the people who didn't still know what is Bitcoin ? Maybe after 50-100 Years I think, All currencies will be digital and all things will be bought online.

Maybe less than we are expecting as there are activists out there pushing for paperless society. Government can save a lot of money as well they stop the circulation of paper money and start adapting using online payment or use of smart phone but you are right that there are areas like the rural areas that may not be able to use online payment because of slow or no internet connection at all.



I believe that it is going to happen in the future that the government is going to implement cashless society and its been a plan since then.
And for sure it is going to happen that the government is going to allow it to happen and going to convince people that it is better to use that
cashless money.



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July 25, 2016, 04:19:50 AM
 #1536

With paper money debt is the currency. The banks can loan out like $100,000 even if they only have $5,000 in their safe. Then the Federal Reserve is responsible for making money to flow through the economy to satisfy those debts. So they would need to print $95,000 to make that loan payable. In reality, they don't print money for every single dollar of debt because that would be hyper inflation. With Bitcoin, you can't just magically get more Bitcoin than you have to loan somebody $100,000 if you only have $5,000.
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July 25, 2016, 04:37:31 AM
 #1537

You can't ban paper moneys. Because that's an international Cash. Anywhere in this world is using Paper money and also Coins. You have to accept it. But if Cryptocurrency will rise and if this will be an international money, then that's good. But I assured that this Cryptocurrency can ban paper money. Because how about the Rural Areas ? How about the places without internet ? How about the people who didn't still know what is Bitcoin ? Maybe after 50-100 Years I think, All currencies will be digital and all things will be bought online.

Maybe less than we are expecting as there are activists out there pushing for paperless society. Government can save a lot of money as well they stop the circulation of paper money and start adapting using online payment or use of smart phone but you are right that there are areas like the rural areas that may not be able to use online payment because of slow or no internet connection at all.



I believe that it is going to happen in the future that the government is going to implement cashless society and its been a plan since then.
And for sure it is going to happen that the government is going to allow it to happen and going to convince people that it is better to use that
cashless money.
Maybe, but that would be a long wait before it will happen, people are already comfortable with paper money and to be honest it is really good to spend paper money as it is very simple to do transaction with anyone. And if you go to the bar you can easily tip to some hot chicks.

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August 06, 2016, 08:24:06 AM
 #1538

You can't ban paper moneys. Because that's an international Cash. Anywhere in this world is using Paper money and also Coins. You have to accept it. But if Cryptocurrency will rise and if this will be an international money, then that's good. But I assured that this Cryptocurrency can ban paper money. Because how about the Rural Areas ? How about the places without internet ? How about the people who didn't still know what is Bitcoin ? Maybe after 50-100 Years I think, All currencies will be digital and all things will be bought online.

Maybe less than we are expecting as there are activists out there pushing for paperless society. Government can save a lot of money as well they stop the circulation of paper money and start adapting using online payment or use of smart phone but you are right that there are areas like the rural areas that may not be able to use online payment because of slow or no internet connection at all.



I believe that it is going to happen in the future that the government is going to implement cashless society and its been a plan since then.
And for sure it is going to happen that the government is going to allow it to happen and going to convince people that it is better to use that
cashless money.
Maybe, but that would be a long wait before it will happen, people are already comfortable with paper money and to be honest it is really good to spend paper money as it is very simple to do transaction with anyone. And if you go to the bar you can easily tip to some hot chicks.

People are comfortable with the fiat paper money because they do not realise the benefit of the crypto currency.

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August 06, 2016, 08:27:01 AM
 #1539

paper money there will continue to be used until whenever. because the current development of digital currency is still not up to the lowest level. financial transaction people in some regions are still 100% use of paper money.
Both paper money and digital one have their own advantages.For small amount transaction,paper money is better for larger transaction digital money is convenient

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August 06, 2016, 09:04:58 AM
 #1540

to me there is no threat to paper money in near future, although in modern age most of the people are giving preference to digital currency and online shopping but still the majority of the people have yet not available the facilities of internet computer, and still more that 70% are illiterate and no knowledge about computer and internet therefore still it will take a lot of time all the people of the world will use bitcoin.
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