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Author Topic: The future of the paper money  (Read 404048 times)
Hatuferu
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October 31, 2016, 03:13:17 AM
 #2141

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.
It can't be the same because the population of the world is increasing and that makes the demand of paper money increase also,  but no problem with that sine the government can produce money as the need arises. Hence, if people are thinking that paper money will be gone in the circulation with the advent of bitcoin they are totally wrong.

 
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October 31, 2016, 06:38:09 AM
 #2142

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.
It can't be the same because the population of the world is increasing and that makes the demand of paper money increase also,  but no problem with that sine the government can produce money as the need arises. Hence, if people are thinking that paper money will be gone in the circulation with the advent of bitcoin they are totally wrong.

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.


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October 31, 2016, 08:11:01 AM
 #2143

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
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October 31, 2016, 10:06:39 AM
 #2144

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

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October 31, 2016, 12:04:11 PM
 #2145

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

Well i don't think  that is possible though. Bitcoin will most likely stay as crypto and if ever it will be accepted i think it would be more like a credit card use. Considering the challenges bitcoin would be facing, it's likely that the future would still belong to fiat

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October 31, 2016, 12:18:22 PM
 #2146

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

Well i don't think  that is possible though. Bitcoin will most likely stay as crypto and if ever it will be accepted i think it would be more like a credit card use. Considering the challenges bitcoin would be facing, it's likely that the future would still belong to fiat
We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

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October 31, 2016, 05:04:15 PM
 #2147


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.

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October 31, 2016, 05:13:30 PM
 #2148


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.

Exactly, and if they can't control it they would probably not let it replace paper money because paper money is in their control and they never want to lose that control, so even if bitcoin replaces paper money but it is controlled by the authorities somehow then there would be no difference between them.



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November 01, 2016, 09:46:09 AM
 #2149


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.
Never heard that the government is controlling bitcoins. It's 100% decentralized so how are they doing it? I don't think this is true at all. If you talk to your friend about bitcoins, will the government go to your house and arrest you? No. You're free in this world. You can do whatever you want in bitcoins. You can advertise and promote it as long as you want. The government isn't holding you back. They don't have a law against bitcoin.


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November 01, 2016, 11:16:14 AM
 #2150

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.
producing paper money of bitcoin will definitely make bitcoin lose its point to be a digital currency and to simplify people's need of transferring money with really low fees and decentralized system which make people could actually getting out of bank

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deisik
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November 01, 2016, 02:11:45 PM
 #2151


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.
Never heard that the government is controlling bitcoins. It's 100% decentralized so how are they doing it? I don't think this is true at all. If you talk to your friend about bitcoins, will the government go to your house and arrest you? No. You're free in this world. You can do whatever you want in bitcoins. You can advertise and promote it as long as you want. The government isn't holding you back. They don't have a law against bitcoin.

They don't need to control Bitcoin directly. Given that 90% (or even more than that) of all miners reside in China, and miners are the ones who come the closest to whoever might gain control over Bitcoin, the Chinese government has all the necessary tools to control miners, and through them control Bitcoin. Obviously, they can't do it openly since that would cast a shadow on Bitcoin itself while killing it (or trying to kill) would mean losing any control over it altogether. Besides, the level of control they might exert is rather limited per se due to the robust nature of Bitcoin. Moreover, they most likely don't want to control Bitcoin in the way the majority of Bitcoin users think they would...

But this doesn't in the least mean that they don't have an agenda

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November 01, 2016, 02:56:06 PM
 #2152

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.

I understand what you mean by that. Well, as for me, I also love the usual paper money however I am also with Bitcoin as it is providing a viable alternative away from the control of central banking system. No, I don't believe that paper money will be out of existence in the near future. Bitcoin and other cryptocurrencies will co-exist with paper money for sure. And there is no need to choose one over the other, in my humble opinion. Smiley

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November 01, 2016, 03:32:10 PM
 #2153

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.
producing paper money of bitcoin will definitely make bitcoin lose its point to be a digital currency and to simplify people's need of transferring money with really low fees and decentralized system which make people could actually getting out of bank
Lol then what is called the technology of the future if bitcoin producing the paper version? I think at this point it would be better if bitcoin digital form. because it would be much better?


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November 01, 2016, 04:09:43 PM
 #2154

Paper money won't be useless soon, considering the new Euro and Dollar bills that are or will be printed now and soon.

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November 01, 2016, 04:24:59 PM
 #2155

Its really impossible  for  paper money would  be  gone   because its being replaced  by another crypto currency which is really impossible  though. As you mentioned    government  can  produce anytime fiat  money  if  the  demand  arises because  of population  inflation.. The future  of  paper  money  is  still strong and  no  one  could able to replace  it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.
Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.
producing paper money of bitcoin will definitely make bitcoin lose its point to be a digital currency and to simplify people's need of transferring money with really low fees and decentralized system which make people could actually getting out of bank
Lol then what is called the technology of the future if bitcoin producing the paper version? I think at this point it would be better if bitcoin digital form. because it would be much better?

I think that paper money and bitcoin are both different because bitcoin is mostly considered as investment like gold and silver but paper money is used in daily life for doing all expenses to live. But when bitcoin will come to main stream like paper money uses we can use bitcoin then their wont be paper money.














 

 

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Bitcoinsummoner
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November 01, 2016, 04:31:29 PM
 #2156

The future of paper money will be the same as present there is nothing will be change. bitcoin is just alternative online and i think it is impossible that we can have a paper money for bitcoin maybe coins like casassius coins..

..Decision from segwit2x is not Final..
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November 01, 2016, 04:33:59 PM
 #2157

I think paper money would still be used in the future. given the paper money has a way of making easy and use is practical, it makes it a very good transaction tool to use now, even since the first. I just think that tools other transactions will be used as an alternative, so paper money may not be replaced, and always in the update


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Doamader
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November 01, 2016, 04:38:41 PM
 #2158

Paper money will keep be used while we moove into the digital era, the world is already very connected, but moove from printed to digital will mean a lot of improvements into the actual system and poor countries will need big investment.


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November 02, 2016, 03:15:53 PM
 #2159


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.
Never heard that the government is controlling bitcoins. It's 100% decentralized so how are they doing it? I don't think this is true at all. If you talk to your friend about bitcoins, will the government go to your house and arrest you? No. You're free in this world. You can do whatever you want in bitcoins. You can advertise and promote it as long as you want. The government isn't holding you back. They don't have a law against bitcoin.

They don't need to control Bitcoin directly. Given that 90% (or even more than that) of all miners reside in China, and miners are the ones who come the closest to whoever might gain control over Bitcoin, the Chinese government has all the necessary tools to control miners, and through them control Bitcoin. Obviously, they can't do it openly since that would cast a shadow on Bitcoin itself while killing it (or trying to kill) would mean losing any control over it altogether. Besides, the level of control they might exert is rather limited per se due to the robust nature of Bitcoin. Moreover, they most likely don't want to control Bitcoin in the way the majority of Bitcoin users think they would...

But this doesn't in the least mean that they don't have an agenda

Assuming China could control miners (not saying I buy that possibility), is there a way to prevent mining in a specific area? Could the Bitcoin board block Chinese mining traffic to restore integrity to the system? (Is that technically possible?) Or because it's decentralized, they have no way to restrict who can mine?


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November 02, 2016, 03:37:22 PM
 #2160


We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world?  Supposedly there is no difference because of the  links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world.  Well we can't blame them, they want it all controlled and bitcoin is hard to control.
Never heard that the government is controlling bitcoins. It's 100% decentralized so how are they doing it? I don't think this is true at all. If you talk to your friend about bitcoins, will the government go to your house and arrest you? No. You're free in this world. You can do whatever you want in bitcoins. You can advertise and promote it as long as you want. The government isn't holding you back. They don't have a law against bitcoin.

They don't need to control Bitcoin directly. Given that 90% (or even more than that) of all miners reside in China, and miners are the ones who come the closest to whoever might gain control over Bitcoin, the Chinese government has all the necessary tools to control miners, and through them control Bitcoin. Obviously, they can't do it openly since that would cast a shadow on Bitcoin itself while killing it (or trying to kill) would mean losing any control over it altogether. Besides, the level of control they might exert is rather limited per se due to the robust nature of Bitcoin. Moreover, they most likely don't want to control Bitcoin in the way the majority of Bitcoin users think they would...

But this doesn't in the least mean that they don't have an agenda

Assuming China could control miners (not saying I buy that possibility), is there a way to prevent mining in a specific area? Could the Bitcoin board block Chinese mining traffic to restore integrity to the system? (Is that technically possible?) Or because it's decentralized, they have no way to restrict who can mine?

Those are hard questions my friend. Cheesy Is there really a way to answer those? I think you would need someone with a good knowledge with the financial industry which is specializing in crypto currencies.

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