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Author Topic: The future of the paper money  (Read 403539 times)
to1ga
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November 13, 2016, 11:55:54 PM
 #2281

If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Storage, production and the material itself is very expensive for the production of paper money. And if the popular will cryptocurrency, then paper money will be bid farewell ,.

Till paper money has support from the Government I don't think it will face any issue and we cannot expect that each and every person will start using bitcoins in future and bitcoin will always be treated as an secondary currency to paper money, and fiat will keep on enjoying its monopoly even in future.

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November 14, 2016, 06:12:23 AM
 #2282

If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Storage, production and the material itself is very expensive for the production of paper money. And if the popular will cryptocurrency, then paper money will be bid farewell ,.

Till paper money has support from the Government I don't think it will face any issue and we cannot expect that each and every person will start using bitcoins in future and bitcoin will always be treated as an secondary currency to paper money, and fiat will keep on enjoying its monopoly even in future.
The support of the government will not be gone because they are the one who are making paper money for their people, and there is no reason they will abolished paper money in the circulation as people are satisfied with using paper money, it's the simplest form of legal tender.

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November 14, 2016, 06:18:16 AM
 #2283

If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.

Paper money will always exist, even if it costs more than the value of the paper money they produce, and bitcoin can never change that or make it disappear.., Just imagine the limit of bitcoin that will be produced, it won't suffice to supply the whole population, even if it goes mainstream, it won't change anything about paper money...  Smiley

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November 14, 2016, 06:27:02 AM
 #2284

If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.

Paper money will always exist, even if it costs more than the value of the paper money they produce, and bitcoin can never change that or make it disappear.., Just imagine the limit of bitcoin that will be produced, it won't suffice to supply the whole population, even if it goes mainstream, it won't change anything about paper money...  Smiley
you're right, paper money will always be used and in use. yah, paper money is money that has been very practical and even exceeded bitcoin. Well, I also feel that bitcoin will never make paper money disappear, bitcoin might even be paper money if it has been accepted d society



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November 14, 2016, 06:38:08 AM
 #2285

We are very far from the time where people will accept the digital currency and will abolish paper money. That is, when people started use paper money didn't stop to hold their gold coins.
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November 14, 2016, 07:13:47 AM
 #2286

We are very far from the time where people will accept the digital currency and will abolish paper money. That is, when people started use paper money didn't stop to hold their gold coins.
We would know when the time comes, even though we are in the digital world paper money will still be use by a lot of people of course. It's simple and easy to use and we cannot deny that, it would maybe be bitcoin will be gone first but paper money will never lose it's popularity.

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November 14, 2016, 12:28:15 PM
 #2287

Paper money is very useful indeed. I think it would still exist in the future for offline transaction purposes, it will not be abandoned because it is easy to use as payment for daily expenses. On the other side bitcoin will be more popular and nothing is impossible for a better progress of it like having digital money.

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November 14, 2016, 01:30:31 PM
 #2288

Paper money is very useful indeed. I think it would still exist in the future for offline transaction purposes, it will not be abandoned because it is easy to use as payment for daily expenses. On the other side bitcoin will be more popular and nothing is impossible for a better progress of it like having digital money.
Agree with you mate that paper money will exist forever even the digital currency would be more popular in the future because not all people can access it specially for the poor people and they will prefer to have paper money than having digital currency.

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November 14, 2016, 01:55:31 PM
 #2289

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

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November 14, 2016, 04:16:50 PM
 #2290

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
i agree with you buddy. because they cant put tax in bitcoin. that's why they aren't interested in joining in bitcoin. btc is rapidly growing right now because many people investing in bitcoin because they believed like me that bitcoin is the future for digital currency but paper money still the same because they cant lose fiat system am i right ? with out paper money theres no circulation of economy because btc is not implemented much even my workmates dont know about btc.
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November 14, 2016, 05:14:03 PM
 #2291

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

I do not believe it. Paper money used by people for a long time. It's like a fetish, a moral necessity. Therefore, the paper money does not come out of Appliances
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November 14, 2016, 05:29:12 PM
 #2292

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

You could just use a payment card like those of Visa or MasterCard. If you set your daily payment limits wisely and enable other security measures (like SMS notifications and confirmations), then you are pretty much safe with it, even if your card gets stolen or you simply forget it somewhere. In cases like these you can lose only the card but not the money in your bank account which is linked to your card...

Using payment cards can be profitable since you might get sizable cashbacks on purchases made with them

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November 17, 2016, 01:26:17 AM
 #2293

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.
That's why you don't see millionaires carrying a million dollars in their wallet. I bet you won't be irritated when you just carry small amount of money (e.g. 100$) in your wallet. And for the very same reason, that's why people put their money in a bank or in a vault. If you do live in a first world country, they just swipe your credit card in the credit card reader that they put in their smartphones. Maybe that would solve your problem about being irritated carrying paper money.


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paiman
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November 17, 2016, 02:49:53 AM
 #2294

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked
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November 17, 2016, 06:37:45 AM
 #2295

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked
Also media have possitive contribution to bitcoin,  becouse they can  attracts people attention. The price and value of bitcoin is designed to increase everytime with bitcoin trasaction volume that more and more increase everyday.  Limited bitcoin supply and amount of new bitcoin which created in system is decrease every 10 minute.  Bitcoin designed to get deflation.  Supply of bitcoin is decrease every 4 years,  we call it halvings.  There are 12,5 btc that appear in each block every 10 minute and it is continuing to decrease.  People in yunani, cyprus, venezuela and other are getting saturated to use paper money.  A lot of country in the world is starting to addopt digital payment system.  The value of global reserve currency is decrease,  but bitcoin value is increase.

mirakal
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November 17, 2016, 07:59:00 AM
 #2296

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked
Also media have possitive contribution to bitcoin,  becouse they can  attracts people attention. The price and value of bitcoin is designed to increase everytime with bitcoin trasaction volume that more and more increase everyday.  Limited bitcoin supply and amount of new bitcoin which created in system is decrease every 10 minute.  Bitcoin designed to get deflation.  Supply of bitcoin is decrease every 4 years,  we call it halvings.  There are 12,5 btc that appear in each block every 10 minute and it is continuing to decrease.  People in yunani, cyprus, venezuela and other are getting saturated to use paper money.  A lot of country in the world is starting to addopt digital payment system.  The value of global reserve currency is decrease,  but bitcoin value is increase.
You are right because bitcoin is news driven, media can help but only for there positive publication. There are also media that states the negative things about bitcoin so now it only depends to a certain adopter to balance things out and make a deep research of who is telling the truth.

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November 17, 2016, 01:15:51 PM
 #2297

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

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November 17, 2016, 02:03:42 PM
 #2298

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

I really disagree with you as well the people does use their phones for almost everything, such fact made banks provide already several services that we can do from home with a phone, soo you believe the printed system will keep being the way of currencie, it will upgrade into digital world, when i dont know but it should happen, maybe another way to have something in hands.

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arseaboy
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November 17, 2016, 05:59:16 PM
 #2299

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

I really disagree with you as well the people does use their phones for almost everything, such fact made banks provide already several services that we can do from home with a phone, soo you believe the printed system will keep being the way of currencie, it will upgrade into digital world, when i dont know but it should happen, maybe another way to have something in hands.

It may be possible that physical money may not be available but considering those people who are located outside the metro which doesn't have a good knowledge in internet technology.. if those people will be educated and give a proper introduction about bitcoins well it's possible but it may take years or decades before it happen.

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deisik
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November 17, 2016, 09:19:45 PM
 #2300

the existence of paper money in the future will begin to decline and be replaced by digital money  Roll Eyes. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

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