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Author Topic: The future of the paper money  (Read 414984 times)
Narosya
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October 04, 2016, 11:39:53 AM

In the paper money has no future. Sooner or later, electronic money will replace them. This process has already begun and it will only grow in the future. And rightly so, because such a system is very convenient
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October 04, 2016, 01:01:16 PM

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?

Paper money is going to keep existing for just a couple years but eventually everything is going to be digital I am sure of that.
But when it is going to happen I do not know that answer of that.
Paper money will not going to be disappeared with bitcoin because paper money is we are using it couple of years and it can just easily be dead every one using it we know that and keep on holding bitcoin to have and save money from exchange website and other things
If paper money will disappear that means there is a global crisis and world war might happen, it is not good to see only bitcoin in the circulation as not all people are capable of using online transaction. We should understand that we do not have the same level of learning.

True, if  paper currency would  drop to the  bottom  for sure    there would be a global crisis ,same as you said.  And you do have also a point which  not all people have  the same  knowledge  into things  especially into digital world.  Future of  money/fiat  is still  strong  and cant be  destroy by anyone.

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Cozynunu
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October 06, 2016, 02:38:47 PM

As i understand they have it in plan, but there is some people worried about too much government control. Yet this north europe countrys are rich and they think about this kind of sistem as u can see Scandinavians rely on cash for less then 6 % off all payments made
 money.cnn.com/2015/06/02/technology/cashless-society-denmark/
Paper money is going to keep existing for some time but eventually the paper money is going to disappear eventually but I do not know when.
In the end everything is going to be digital but it takes time before.
allthingsluxury
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October 06, 2016, 02:48:52 PM

The future of paper money is the same as it has been every other time in history. It eventually goes to zero, as has every form of fiat money EVER in history. There is simply too much abuse by politicians.

geopolisch
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October 06, 2016, 03:06:27 PM

The future of paper money is the same as it has been every other time in history. It eventually goes to zero, as has every form of fiat money EVER in history. There is simply too much abuse by politicians.
Yes, history will repeat itself.
Paper money will find its place to sleep as electronic currencies will occupy the places of paper money.
With electronic format of currency, we will be able to track the flow of money so that any corruption or money laundry or any similar illegal events will be traced down.


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Oralmat
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October 06, 2016, 03:28:18 PM

The future is only of bitcoins and not paper money.
That is maybe true but paper money is going to exist for a while and I also think that it is going to differ from country to country because some country cannot afford that.
To make everything about money digital requires much money.


Two things are coming together to make this happen.  The first is the fact that you will be hard pressed to find a person that does not carry an active smart phone these days and add to that the presence of PayPal, Apple, Google and Windows payments systems, the time has come. 
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October 06, 2016, 03:43:23 PM

Paper money will be still there in the future but it will loose considerable amount of people using it.It is supported by the governments. Even when paper currency value falls down, government would change their policies to make its price stable.
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October 06, 2016, 03:51:46 PM

Paper money will be still there in the future but it will loose considerable amount of people using it.It is supported by the governments. Even when paper currency value falls down, government would change their policies to make its price stable.
Here in my country our currency few days ago are down but its not the case that our paper money are fall because usd are increased according to news outside in this forum.. thats why some things like gasoline are increased price because our source of gasoline is outside in our country.
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October 06, 2016, 04:14:42 PM

Paper money will be still there in the future but it will loose considerable amount of people using it.It is supported by the governments. Even when paper currency value falls down, government would change their policies to make its price stable.

That's right, well the currency in my country is constant which means its value remains the same always but never get changed, but the countries with currencies which drops in price or value sometimes can be reviewed by the government and they might change the policies or things to recover the value again.
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October 06, 2016, 09:56:13 PM

to me the future of bitcoin is still to good and there no thread to paper money, as most of the people of the world are fiat currency and those who are using bitcoin i think they only use it in trading and nothing else.
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October 06, 2016, 10:18:11 PM

to me the future of bitcoin is still to good and there no thread to paper money, as most of the people of the world are fiat currency and those who are using bitcoin i think they only use it in trading and nothing else.

If most of people use the bitcoin for trading and consider it as an investment asset then the rest of them use bitcoin like the regular money they spend everyday, there are some factors which limit the bitcoin holders so some have places where to spend some not.


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October 06, 2016, 10:23:10 PM

The future is only of bitcoins and not paper money.
That is maybe true but paper money is going to exist for a while and I also think that it is going to differ from country to country because some country cannot afford that.
To make everything about money digital requires much money.

I think paper money will be exist everywhere on the world but the sentence of the quoted person is correct that the future will be of bitcoin not paper money as now people like to start business online on internet and a lot of shopping sites are available on internet and people like to shop online so everything is going to shift to digital means.
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October 07, 2016, 01:19:20 AM

I live in New York, and I cannot see how life would be without paper money. For example, people go in an out an buy something that you grab and hand in the money at a grocery store. Sometimes even while the clerk is taking care of someone else. If we had no paper money we would have to wait until they finish with their customer, then process our pay card, etc. Convenience would go way down when purchasing small items.

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October 07, 2016, 02:29:36 AM

The future is only of bitcoins and not paper money.
That is maybe true but paper money is going to exist for a while and I also think that it is going to differ from country to country because some country cannot afford that.
To make everything about money digital requires much money.

I think paper money will be exist everywhere on the world but the sentence of the quoted person is correct that the future will be of bitcoin not paper money as now people like to start business online on internet and a lot of shopping sites are available on internet and people like to shop online so everything is going to shift to digital means.

It may possibly happen to have a cashless world because of  technology upgrades but fiat would  not  disappear no matter what  because  a country does need it and  would not depend on  digital cash itself  , government  would strictly  implement  this  and  would  not let this thing to happen anytime soon.

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October 07, 2016, 02:44:21 AM

If we are talking about USD paper money then it is beginning to show up the problems which was predicted by so many that are studying the economic stance os US. Seems like the only thing that will be left for them is business in arms and nothing more. If there wil be no war then they wont profit and their country will fall. So let us get ready for a new war when the dollar fall.


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betlord90
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October 07, 2016, 03:28:10 AM

Paper money will be still there in the future but it will loose considerable amount of people using it.It is supported by the governments. Even when paper currency value falls down, government would change their policies to make its price stable.
Yes very important to us that paper money coz we use it everyday in our daily living. And paper money can not lost it coz we need that.

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October 07, 2016, 03:47:12 AM

The paper money will keep being used by people, especially at asian country, because i'm at asian country and people still using paper money and even the digital money era come, paper money will keep exist.
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October 07, 2016, 04:14:27 AM

The paper money will keep being used by people, especially at asian country, because i'm at asian country and people still using paper money and even the digital money era come, paper money will keep exist.
Not only in Asian countries, even in US or in europe more people are still using paper money, and in the future that is still the same or will even increase. Although we are going to the digital world but admit it, not all people can transact online as they do not have interest doing online transaction.

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October 07, 2016, 05:15:48 AM

The paper money will keep being used by people, especially at asian country, because i'm at asian country and people still using paper money and even the digital money era come, paper money will keep exist.

Arrogance is strong in this one. Most Asian countries are still 2nd World, and probably will be behind in catching up to the west in the near future, but having an e-wallet isn't old news


 
 
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October 07, 2016, 05:30:52 AM

The paper money will keep being used by people, especially at asian country, because i'm at asian country and people still using paper money and even the digital money era come, paper money will keep exist.
Actually, only some countries use paper money, such as the USA. The rest of the world uses plastic money. Maybe one day bitcoin will catch on, but that will take a very long time.

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