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Author Topic: The future of the paper money  (Read 403606 times)
Mastsetad
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October 27, 2016, 04:06:08 PM
 #2121

Not much I can imagine modern life without paper money. Maybe something else will come up in the future, on the example of what a credit card, but the image of the Stone Age, when used instead of paper naturally precious metal, so this will not be.
I think the paper money will continue until whenever, although in the future. Because paper money is a payment that is practical and is perfect. The payment method in the digital age will increase but will not change the paper money, may be just another way of payment in addition to paper money.

Maybe the system of paper money would get finished in future as the world is getting more digital with the time and technology is getting more and more developed with the time, so maybe the paper money system will be replaced by some digital system, that can be any other system maybe not bitcoin, because the governments would probably make that system able to be controlled by them obviously.
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October 27, 2016, 04:43:41 PM
 #2122

Paper money is expensive and unnecessary and soon will face oblivion.
But i can't except that bitcoin will be his successor. Banks already have their ideas maybe even "better" for them, with endless supply of total coins ..Maybe even on blockchain.
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October 27, 2016, 04:44:43 PM
 #2123

Not much I can imagine modern life without paper money. Maybe something else will come up in the future, on the example of what a credit card, but the image of the Stone Age, when used instead of paper naturally precious metal, so this will not be.
I think the paper money will continue until whenever, although in the future. Because paper money is a payment that is practical and is perfect. The payment method in the digital age will increase but will not change the paper money, may be just another way of payment in addition to paper money.
Paper currencies have not outlived their usefulness. Maybe they will suffer some changes, but the fact is that in exchange for any product that people will use it. And I think paper money.
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October 27, 2016, 05:17:04 PM
 #2124

If the banking system will continue to exist, in any case, the banks will have a money exchange. And the cheapest material for their printing is paper. Of course, maybe come up with something else. But while there will be paper.
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October 27, 2016, 05:35:23 PM
 #2125

Not much I can imagine modern life without paper money. Maybe something else will come up in the future, on the example of what a credit card, but the image of the Stone Age, when used instead of paper naturally precious metal, so this will not be.
I think the paper money will continue until whenever, although in the future. Because paper money is a payment that is practical and is perfect. The payment method in the digital age will increase but will not change the paper money, may be just another way of payment in addition to paper money.
Paper currencies have not outlived their usefulness. Maybe they will suffer some changes, but the fact is that in exchange for any product that people will use it. And I think paper money.

yeah i think so too. it's still going to be paper money in the coming years. if it will be replaced by anything different, then we may be looking at several  decades and we may not be alive when time comes that paper money is not the main currency of all countries.

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October 27, 2016, 06:24:33 PM
 #2126

If the banking system will continue to exist, in any case, the banks will have a money exchange. And the cheapest material for their printing is paper. Of course, maybe come up with something else. But while there will be paper.
Maybe better to melt the gold and silver coins and nachekanit as in the old days would be. And the paper in general is of no value, except for those assets that spent on its production. The time will come, and even the paper is in short supply.
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October 27, 2016, 06:27:50 PM
 #2127

If the banking system will continue to exist, in any case, the banks will have a money exchange. And the cheapest material for their printing is paper. Of course, maybe come up with something else. But while there will be paper.
Maybe better to melt the gold and silver coins and nachekanit as in the old days would be. And the paper in general is of no value, except for those assets that spent on its production. The time will come, and even the paper is in short supply.
Good idea i think its more worth it if we melt gold and silver as our money to and paper money will no value .
Because gold and silver have different value..


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October 27, 2016, 07:10:02 PM
 #2128

View Cash for people are also of great importance. It is necessary first of all to think about themselves and not about their desires, and about real things. Think about how people in the suburbs or villages will use bitcoin. They are now even ATMs is no more. And talk about digital money yet. So the age of paper money continues.
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October 27, 2016, 10:12:55 PM
 #2129

Although we are entering an age where everything has its digital version, I don't see the paper money being obsolete. It is still nice to have physical forms of money. The increasing transaction counts using digital money and online payment has reduced the need to bring cash but there are still things that are better off being paid by paper money.
Of course, the use of paper money will still be practiced as there are situatio or good/services that will require a must to be transacted using paper money. No matter how civilized or advanced that the word may become, paper money will still be needed to make some forms of transaction.
Personally I disagree, payments are becoming more and more digital, just look at bitcoin and electronic currency, the tendency is that cash is disappearing, and in the future there’s a big chance that in developed countries cash will no longer exists

Within that trend, it is possible that the bitcoin will be the major global currency gradually. the price will also rise.
Obviously since this is a bitcoin forum I think that is something most of us are expecting but there are a lot of unknowns along the way, for example a new revolutionary coin could come and left bitcoin in the dust.

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October 27, 2016, 11:06:13 PM
 #2130

I was living for a year in Asia while I was doing my first PhD.

They are amazing. The differences of culture are unbeatable.

I China for example even if it was 3 years ago that guys wasn't wondering if they forgot their wallet at home.

Their personal problem was not to have enough battery at phone. Same in Japan.

In India the inflation is so bad in some regions.

In Iraq you are not even using money in the conflict regions.

About Europe, I am French. We all love money in our hands.

Africa? Money .... Europe

USA? Long live 1$ paper.

South America... we no money we American dollars ad drugs.

That's how I'm seeing the world and the future of paper money haha
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October 28, 2016, 06:04:26 AM
 #2131

Although we are entering an age where everything has its digital version, I don't see the paper money being obsolete. It is still nice to have physical forms of money. The increasing transaction counts using digital money and online payment has reduced the need to bring cash but there are still things that are better off being paid by paper money.
Of course, the use of paper money will still be practiced as there are situatio or good/services that will require a must to be transacted using paper money. No matter how civilized or advanced that the word may become, paper money will still be needed to make some forms of transaction.
Personally I disagree, payments are becoming more and more digital, just look at bitcoin and electronic currency, the tendency is that cash is disappearing, and in the future there’s a big chance that in developed countries cash will no longer exists

Within that trend, it is possible that the bitcoin will be the major global currency gradually. the price will also rise.
Obviously since this is a bitcoin forum I think that is something most of us are expecting but there are a lot of unknowns along the way, for example a new revolutionary coin could come and left bitcoin in the dust.
Then we move on, we are already here in the crypto world so we know that will happen since it is possible. All coins here are just living due to the trust of the people and if we loses our trust with bitcoins then it would definitely be replace by other crypto assets.. What is important is we will just enjoy what we have now and in overall crypto world are profitable..

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October 28, 2016, 06:12:39 AM
 #2132

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 will soon be worthless in the not too distance future....Some form of blockchain based digital currency will take its place either privately, like bitcoin, or state controlled, like the E-Peso Act ( https://cointelegraph.com/news/filipino-lawmakers-unveil-e-peso-act-to-create-national-currency-for-the-digital-age )  It will probably be a combination of them both....one for the dark markets and one for the public record....so, there will be ways developed for them to interact.

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October 28, 2016, 09:57:56 PM
 #2133

Although we are entering an age where everything has its digital version, I don't see the paper money being obsolete. It is still nice to have physical forms of money. The increasing transaction counts using digital money and online payment has reduced the need to bring cash but there are still things that are better off being paid by paper money.
Of course, the use of paper money will still be practiced as there are situatio or good/services that will require a must to be transacted using paper money. No matter how civilized or advanced that the word may become, paper money will still be needed to make some forms of transaction.
Personally I disagree, payments are becoming more and more digital, just look at bitcoin and electronic currency, the tendency is that cash is disappearing, and in the future there’s a big chance that in developed countries cash will no longer exists

Within that trend, it is possible that the bitcoin will be the major global currency gradually. the price will also rise.
Obviously since this is a bitcoin forum I think that is something most of us are expecting but there are a lot of unknowns along the way, for example a new revolutionary coin could come and left bitcoin in the dust.
Then we move on, we are already here in the crypto world so we know that will happen since it is possible. All coins here are just living due to the trust of the people and if we loses our trust with bitcoins then it would definitely be replace by other crypto assets.. What is important is we will just enjoy what we have now and in overall crypto world are profitable..
That is easier said than done, if an altcoin crashes I don’t care since I only have bitcoin, but if bitcoin crashes even if it is because another coin has proven to be superior I will take my time and see if I will get into this currency and in think I will not be alone in this.

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October 28, 2016, 11:01:55 PM
 #2134

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat


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October 28, 2016, 11:54:39 PM
 #2135

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

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achow102
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October 30, 2016, 07:04:50 AM
 #2136

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready
The_Dark_Knight
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October 30, 2016, 03:17:20 PM
 #2137

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready

Even if many of the poorer countries are not ready some of the most powerful and the ones that move most of the world economy are in fact ready to replace paper money just look a t credit cards.

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barabash
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October 30, 2016, 05:23:00 PM
 #2138

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready

Even if many of the poorer countries are not ready some of the most powerful and the ones that move most of the world economy are in fact ready to replace paper money just look a t credit cards.

People can and are ready, and the government - is not. That the government is addressing the issue. In many developed countries have not defined the status cryptocurrency
lionheart78
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October 30, 2016, 09:47:18 PM
 #2139

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready

Even if many of the poorer countries are not ready some of the most powerful and the ones that move most of the world economy are in fact ready to replace paper money just look a t credit cards.

People can and are ready, and the government - is not. That the government is addressing the issue. In many developed countries have not defined the status cryptocurrency


Nope only a few "chosen" people or  users are ready to use cryptocurrency.  The main reason is the connectivity issue.  More than half of the globe population have no access to internet.  Let alone that only a small percentage of internet users are aware of cryptocurrency,   You can try to survey that and they will ask you about "What cryptocurrency is" .  So in my opinion if the government wanted to replace their currency and use digital currency such is bitcoin, they need to improve and make their country population to have 100% internet access.

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Babayega31
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October 31, 2016, 01:03:22 AM
 #2140

I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.
I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat
We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready

Even if many of the poorer countries are not ready some of the most powerful and the ones that move most of the world economy are in fact ready to replace paper money just look a t credit cards.

People can and are ready, and the government - is not. That the government is addressing the issue. In many developed countries have not defined the status cryptocurrency


Nope only a few "chosen" people or  users are ready to use cryptocurrency.  The main reason is the connectivity issue.  More than half of the globe population have no access to internet.  Let alone that only a small percentage of internet users are aware of cryptocurrency,   You can try to survey that and they will ask you about "What cryptocurrency is" .  So in my opinion if the government wanted to replace their currency and use digital currency such is bitcoin, they need to improve and make their country population to have 100% internet access.

The future of paper money will be still the same, it doesn't make since if in the future paper money will vanish, because not all people have an internet access there were people who are living in areas not covered with modern technology specially communication. They were very particular of using the paper money and its very convenience for them compared to those who are having internet online account for their banks. If it happens that papr money will be gone, it should be mandatory for the government to generalize internet access to all areas around the world and then introduce trainings which that would take a long process to follow.


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