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Author Topic: The future of the paper money  (Read 404041 times)
Eidheen
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August 09, 2016, 05:33:39 PM
 #1561

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
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August 09, 2016, 05:58:00 PM
 #1562

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
Well, if the future is very friendly with the digital, I guess that's right, paper money will disappear and digital money will be used. I guess the transaction in the future could become easier with digital money, but I guess it will take a very long time, because the current paper money transaction has become a tool used by most of the world

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August 09, 2016, 06:03:03 PM
 #1563

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
Its impossible that paper money will be gone in the future because its already traditional to use paper money..
bitcoin still be useful as online money paper money will be still remain because do yo think all people all over the world will accept bitcoin as payment instead of paper money? many places here in my country has no internet so paper money will be still remain..

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August 09, 2016, 06:13:34 PM
 #1564

sad but paper money can not develop much their main problems are the durability of their money and continiously printing more and more money which is normally reducing their currency value

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August 09, 2016, 10:52:24 PM
 #1565

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
thats true, though in my opinion bitcoins and cryptocurrencies have way more advantage than just fiat money and thats why i usually stick to it only
yeah both have their respective advantages in the future but is it possible that something that became instant would be prioritized? maybe paper money will start even when you do not still exist? but if everyone does not use paper money? of course paper money will see the end of history




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August 09, 2016, 11:17:33 PM
 #1566

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
bitcoin is really great for both type of transactions while fiat is only good for smaller ones and it is a really bad thing in my opinion because it is very important to have a possibility to transfer big money
I think regardless of bitcoin. digital currencies will always be better compared banknotes think. because the currency is very flexible digital portability and instant. and paper money can not do that. I think the moment has already started and more people use digital currencies such as debit cards or credit cards

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August 10, 2016, 12:56:43 AM
 #1567

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
thats true, though in my opinion bitcoins and cryptocurrencies have way more advantage than just fiat money and thats why i usually stick to it only
yeah both have their respective advantages in the future but is it possible that something that became instant would be prioritized? maybe paper money will start even when you do not still exist? but if everyone does not use paper money? of course paper money will see the end of history




But I dont think that will happen. The first question would be who can afford bitcoin or credit cards? How about those who just rely on their salary? Will the government fund it for poor people to have access in it? Those should be answered first before everything.

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August 10, 2016, 01:44:41 AM
 #1568

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 do not want to be skeptic about the capability of bitcoins but I think paper money will still be in use.  It will not be banned as it is comfortable and easy way to use.

If ever that the world will use a digital currency, it would be hard for the entire world to introduce it as not all country have electricity and computers.  Even some part of the world were uncivilized.  Lots of research and study is needed to properly manage the use of digital currency. 

If ever that digital money will be used, 100 years maybe before it will take effect.

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August 10, 2016, 01:55:19 AM
 #1569

Interesting thoughts, I believe the future of payment systems is at the fingertips.
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August 10, 2016, 03:32:58 AM
 #1570

sad but paper money can not develop much their main problems are the durability of their money and continiously printing more and more money which is normally reducing their currency value

agree with you, printing money make the value decrease each year.
bitcoin is the solution for fiat problem, limited supply full decentralization because not only goverment who can print money (read: minng bitcoin).


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August 10, 2016, 03:35:15 AM
 #1571

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
Well, if the future is very friendly with the digital, I guess that's right, paper money will disappear and digital money will be used. I guess the transaction in the future could become easier with digital money, but I guess it will take a very long time, because the current paper money transaction has become a tool used by most of the world

Paper money will coexist  with  digital money in the future, and if there is a change in certain places and they are going digital, it would just be them, the change from paper money to digital will not be uniform and probably might not be adopted by other countries... There were always be a place on earth that will be left behind or would refuse digital form of their paper money..  Smiley

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August 10, 2016, 07:13:15 AM
 #1572

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
Well, if the future is very friendly with the digital, I guess that's right, paper money will disappear and digital money will be used. I guess the transaction in the future could become easier with digital money, but I guess it will take a very long time, because the current paper money transaction has become a tool used by most of the world

Paper money will coexist  with  digital money in the future, and if there is a change in certain places and they are going digital, it would just be them, the change from paper money to digital will not be uniform and probably might not be adopted by other countries... There were always be a place on earth that will be left behind or would refuse digital form of their paper money..  Smiley
Definitely true, in this world we are not all living in an progressive country, there are other countries that are poor and there major concern is not investment or transacting online but food, so how could we attract them to adopt with bitcoin when the major requirement is not on them which is money.



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August 10, 2016, 07:50:04 AM
 #1573

Over the years, we have progressed from a cash-only to a hybrid-based system, transacting in both cash and some form of electronic payment. Today, an increasing proportion of payments are made electronically and the current technological revolution playing out in the payments space is only increasing our ability to live without cash on a day to day basis.

So, are we likely to see the end of paper money anytime soon?  No; not for the foreseeable future.

Apart from the necessary and significant investment in systems infrastructure, before even considering such an extreme policy, the political complexity of getting such a system set-up is overwhelming. If we consider the global monetary system, a cashless society would likely require international agreement and likely some regulatory authority to manage the global system.  In a world where political compromise is increasingly rare, and where the vast majority of transactions in emerging markets are conducted via cash, it seems unlikely an international accord will be struck any time soon.
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August 11, 2016, 11:39:06 AM
 #1574

Over the years, we have progressed from a cash-only to a hybrid-based system, transacting in both cash and some form of electronic payment. Today, an increasing proportion of payments are made electronically and the current technological revolution playing out in the payments space is only increasing our ability to live without cash on a day to day basis.

So, are we likely to see the end of paper money anytime soon?  No; not for the foreseeable future.

Apart from the necessary and significant investment in systems infrastructure, before even considering such an extreme policy, the political complexity of getting such a system set-up is overwhelming. If we consider the global monetary system, a cashless society would likely require international agreement and likely some regulatory authority to manage the global system.  In a world where political compromise is increasingly rare, and where the vast majority of transactions in emerging markets are conducted via cash, it seems unlikely an international accord will be struck any time soon.

In the next few years, when the bitcoin has its infrastrucutre built, the bitcoin will be used widely and price will be higher.

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August 11, 2016, 11:42:20 AM
 #1575

Over the years, we have progressed from a cash-only to a hybrid-based system, transacting in both cash and some form of electronic payment. Today, an increasing proportion of payments are made electronically and the current technological revolution playing out in the payments space is only increasing our ability to live without cash on a day to day basis.

So, are we likely to see the end of paper money anytime soon?  No; not for the foreseeable future.

Apart from the necessary and significant investment in systems infrastructure, before even considering such an extreme policy, the political complexity of getting such a system set-up is overwhelming. If we consider the global monetary system, a cashless society would likely require international agreement and likely some regulatory authority to manage the global system.  In a world where political compromise is increasingly rare, and where the vast majority of transactions in emerging markets are conducted via cash, it seems unlikely an international accord will be struck any time soon.

In the next few years, when the bitcoin has its infrastrucutre built, the bitcoin will be used widely and price will be higher.

Yeah, it's definitely going to happen. because the bitcoin is much better and profitable for those who understand how to use the bitcoin. Bitcoin system very easy, safe, fast, and cheap. It would be a compelling reason for everyone to use the bitcoin, just that we need to promote the bitcoin to everyone so that they better understand

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August 11, 2016, 11:58:07 AM
 #1576

Over the years, we have progressed from a cash-only to a hybrid-based system, transacting in both cash and some form of electronic payment. Today, an increasing proportion of payments are made electronically and the current technological revolution playing out in the payments space is only increasing our ability to live without cash on a day to day basis.

So, are we likely to see the end of paper money anytime soon?  No; not for the foreseeable future.

Apart from the necessary and significant investment in systems infrastructure, before even considering such an extreme policy, the political complexity of getting such a system set-up is overwhelming. If we consider the global monetary system, a cashless society would likely require international agreement and likely some regulatory authority to manage the global system.  In a world where political compromise is increasingly rare, and where the vast majority of transactions in emerging markets are conducted via cash, it seems unlikely an international accord will be struck any time soon.

In the next few years, when the bitcoin has its infrastrucutre built, the bitcoin will be used widely and price will be higher.

Yeah, it's definitely going to happen. because the bitcoin is much better and profitable for those who understand how to use the bitcoin. Bitcoin system very easy, safe, fast, and cheap. It would be a compelling reason for everyone to use the bitcoin, just that we need to promote the bitcoin to everyone so that they better understand

I wouldn't call the Bitcoin system very easy. Personally, I use a Coinbase wallet, despite the fact that using an online wallet is considered a bad practice (for evident and righteous reasons). Not that I couldn't install the Bitcoin-core wallet on my computer (actually, I have it installed), but installing it as well as working with it was far from trivial (at least at the time when I first tried it). Even for a tech-literate person...

I mean all that voodoo and rain dancing with importing-exporting keys and the stuff like that

aesma
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August 15, 2016, 09:45:12 PM
 #1577

One problem with bitcoins transactions for day-to-day stuff that I can see is that the cost is on the sender. Whereas for cards the cost is on the shop.

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20kevin20
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August 15, 2016, 09:52:28 PM
 #1578

Paper money will be replaced soon, as it can be easily stolen. Of course hackers do exist, but with the current available technology it'd be easy to secure phones or a physical crypto wallet to be used instead of the wallets filled with.. Paper.
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August 15, 2016, 10:42:50 PM
 #1579

Interesting thoughts, the future is in your fingertips.
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August 15, 2016, 10:45:18 PM
 #1580

I think that paper money will be gone in the future. How low it is going to take I don't know. Everything is getting more and more digital and money is one of those things. But it will be a whole process getting rid of the paper money.
i hope that you are right though in my opinion bitcoins might fail either, anything is possible

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