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Author Topic: The future of the paper money  (Read 403536 times)
ovvidiy
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August 25, 2016, 04:02:01 AM
 #1681

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
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August 25, 2016, 04:46:52 AM
 #1682

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
That's obvious and we cannot realize the expectation of the others that bitcoin will be use by everyone in the future. Only businessmen and people who love to buy online are interested in using bitcoin and it will not rule over fiat and that is the reality we need to accept starting now.



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Matt Guy
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August 25, 2016, 10:47:33 PM
 #1683

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
ttargett
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August 25, 2016, 11:03:53 PM
 #1684

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
it is really easy to predict the future to be honest, in my opinion they will disappear and i think people will use only bitcoins

botany
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August 27, 2016, 03:06:02 AM
 #1685

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
it is really easy to predict the future to be honest, in my opinion they will disappear and i think people will use only bitcoins

Ha ha. That is pretty optimistic. Governments won't take any challenge to their authority lying down.
Plus you have many more innovative alts. One of them could turn out to be a bitcoin-killer.
traderbit
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August 27, 2016, 04:42:49 AM
 #1686

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
I don't even think that it will disappear ever. Paper money will remain forever. and if bitcoin want to replace other money bitcoin need to come into paper money shape. so it will be a new life of paper money but paper money won't disappear.
bitcoin getting more and more users daily which is definitely a good sign for bitcoin. but it won't effect paper's money's important at all(at least now)

warwar
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August 27, 2016, 04:58:37 AM
 #1687

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
That's obvious and we cannot realize the expectation of the others that bitcoin will be use by everyone in the future. Only businessmen and people who love to buy online are interested in using bitcoin and it will not rule over fiat and that is the reality we need to accept starting now.

Yep . this is reality . Person who loved to buy online stuff is the one using bitcoins . We should say that one day bitcoin ruled the Online Fiat money in the future but in reality not. It is impossible !

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MingLee
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August 27, 2016, 06:06:41 AM
 #1688

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
That's obvious and we cannot realize the expectation of the others that bitcoin will be use by everyone in the future. Only businessmen and people who love to buy online are interested in using bitcoin and it will not rule over fiat and that is the reality we need to accept starting now.

Yep . this is reality . Person who loved to buy online stuff is the one using bitcoins . We should say that one day bitcoin ruled the Online Fiat money in the future but in reality not. It is impossible !
Nothing is ever impossible, the only thing that can make something seem like it is impossible are when the variables are just too unlikely to change. Fiat money in the future will more than like be mostly digital, probably more than it is now, but unless we get some full-on tyrannical government things happening, chances are cash will still exist in some form or another.
ovvidiy
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August 27, 2016, 07:57:06 PM
 #1689

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
That's obvious and we cannot realize the expectation of the others that bitcoin will be use by everyone in the future. Only businessmen and people who love to buy online are interested in using bitcoin and it will not rule over fiat and that is the reality we need to accept starting now.

Yep . this is reality . Person who loved to buy online stuff is the one using bitcoins . We should say that one day bitcoin ruled the Online Fiat money in the future but in reality not. It is impossible !
Nothing is ever impossible, the only thing that can make something seem like it is impossible are when the variables are just too unlikely to change. Fiat money in the future will more than like be mostly digital, probably more than it is now, but unless we get some full-on tyrannical government things happening, chances are cash will still exist in some form or another.
Whatever said and whatever conclusions did you have, anyway I personally like it is no wonder no paper money. I understand and have convinced myself that digital currency is very convenient and wire transfers and payment is also very good. But if there is money in your pocket, you are now living.
abugseuf
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August 27, 2016, 09:42:43 PM
 #1690

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
to me prediction about paper money is not so difficult, to me the future of paper money is still bright, and there is not chance of disappearing it. to me it required generation to us bitcoin 100% in their life and ignore fiat currency, therefore the future of bitcoin is still bright.
vero
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August 27, 2016, 09:54:07 PM
 #1691

It's hard to predict what the future will be for the paper money, but I don't think it will disappear very soon, because it's still used by many people.
But you can see that Bitcoin is getting more popular and used, and that's a good sign.
hard? you already know that paper money could never be replaced until whenever despite rapid technological advances in the future, the paper money would still in use.

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August 27, 2016, 10:06:37 PM
 #1692

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
well you are kinda right about it in my opinion, i think that in the future the bitcoin might actually replace it to be honest and that would be great

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August 27, 2016, 10:18:51 PM
 #1693

The paper money is pioneer of the money, and well known among the people, that's why I think it will not disappear very soon.
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August 28, 2016, 02:28:04 AM
 #1694

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
well you are kinda right about it in my opinion, i think that in the future the bitcoin might actually replace it to be honest and that would be great
Paper money will still dominate in the future, it is the simple currency that does not need an internet connection to transact and we know in the internet you are not safe if you are not careful so people who does not really know how to secure there information would certainly chose paper money.

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August 28, 2016, 03:56:56 AM
 #1695

The paper money is pioneer of the money, and well known among the people, that's why I think it will not disappear very soon.

I agree actually im thinking that it will stay,  There are lots of things to consider before the government make it obsolete.  And at the current state, it will be very har to make paper money disappear  due to the infrastracture available.  There maybe some country that uses cashless society but it is not 100% comfortable  for its people reason why some other country is not adopting it.

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August 28, 2016, 03:59:52 AM
 #1696

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.
Why exactly not? With SegWit, Lightning Network and possible even more awesome upgrades to bitcoin protocol, transaction will be almost instantaneous.
And in that situation, you described if you would have bitcoin wallet in your smartphone installed you could scan QR code any cashier can generate and pay in matter of seconds.
We already have technology for that - all we need is will of people to know about this and change current system - which can be much harder.
People will only be interested to listen bitcoin when they have assurance which is very hard for bitcoin to provide. The assurance like the banks offer that when you loss your money due to banks failure you will be refunded by insurance. But let us see in the future as I am pretty sure more innovation will be made to have the confidence of the people to adopt.
According to statistics, more than half the population of the globe is the elderly and children. What do you think, what money they will enjoy if they offer a choice between Bitcoin and paper money? I think the answer is obvious.
well you are kinda right about it in my opinion, i think that in the future the bitcoin might actually replace it to be honest and that would be great

Even bitcoin would be successful in the future, it wont have the possibility to replace fiat , as  many others said  bitcoin would be used  to those who love to purchase online stuff and  easy money transfers but  paper currency would be still there because  lots  of people doesnt  know even the word bitcoin and they  would for sure use  paper currency.

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August 28, 2016, 04:23:43 AM
 #1697

For the big country like Japan and USA, i think paper money will dead and digital money will take it. But for developed country, i think paper money will be used permanently.
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August 28, 2016, 04:47:08 AM
 #1698

For the big country like Japan and USA, i think paper money will dead and digital money will take it. But for developed country, i think paper money will be used permanently.


I think you mean undeveloped countries which can't afford to set up the digital money system. For all other countries which can afford setting it up, digital money will be their only option.
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August 28, 2016, 10:32:55 AM
 #1699

For the big country like Japan and USA, i think paper money will dead and digital money will take it. But for developed country, i think paper money will be used permanently.


I think you mean undeveloped countries which can't afford to set up the digital money system. For all other countries which can afford setting it up, digital money will be their only option.

Setting up digital money in underdeveloped countries is not all that difficult. You just need an internet infrastructure and the rest of bitcoin setup is already available online

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August 28, 2016, 10:39:43 AM
 #1700

For the big country like Japan and USA, i think paper money will dead and digital money will take it. But for developed country, i think paper money will be used permanently.


I think you mean undeveloped countries which can't afford to set up the digital money system. For all other countries which can afford setting it up, digital money will be their only option.

Setting up digital money in underdeveloped countries is not all that difficult. You just need an internet infrastructure and the rest of bitcoin setup is already available online

In fact, you don't even need the Internet infrastructure to make electronic payments possible (i.e. to implement the concept of digital money in practice). The history of such payments had started long before Internet got widespread recognition as a means of facilitating electronic payments (actually long before it got any recognition at all)...

For example, the SWIFT network was founded in 1973 with the purpose of exchanging and processing data about financial transactions across the world

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