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Author Topic: The future of the paper money  (Read 403656 times)
Jambolb2
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December 27, 2016, 04:43:19 PM
 #2441

I think u are only talking about fiat currency which is not different at all .and there will be no paper money at all .and hope bitcoins rise to a next level .

Paper money system wont get vanished so easily as it has been used for centuries in the world and people wont just let it go like that because there are people in the world who does not know anything about technology so how would they manage if the monetary system of the world get digitalized?
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December 28, 2016, 05:05:03 AM
 #2442

They might remove PAPER money but I doubt goverments would give up on their currencies that easily. They're much more likely to encourage the use of cashless transactions. That's already the case now for many people. Have your pay sent directly to your bank account, use debit/credit card for purchases, it wouldn't take that long for them to just get rid of the paper money. If you think about it, they might like that better since they save expenses by not printing.
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December 28, 2016, 11:44:21 AM
 #2443

They might remove PAPER money but I doubt goverments would give up on their currencies that easily. They're much more likely to encourage the use of cashless transactions. That's already the case now for many people. Have your pay sent directly to your bank account, use debit/credit card for purchases, it wouldn't take that long for them to just get rid of the paper money. If you think about it, they might like that better since they save expenses by not printing.
They cannot completely remove paper money, imagine how many centuries paper money has already serve us and people are already very comfortable using it especially those people who lives in the country or area where online transaction is not popular.

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December 28, 2016, 12:48:55 PM
 #2444

the paper money has been existing for now so people will want to prefer  paper money because of it convenient and it worth so on like bitcoin every developing in the world country today are still using coin so with bitcoin still better chances to be preferred in times to come so for the fact that it has good potentials. 

It is convenient to pay paper money for any purchase which is occurred face to face but carrying paper money nowadays is much hard as there is risk of robbers and thieves. while with digital money we do not feel any fear of these type of threats. In the future I believe that paper money will exist and will have the same value as now but most people will use digital money and digital ways of transactions.


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December 28, 2016, 01:54:07 PM
 #2445

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. In india, the government is trying to ban paper currency totally by demonitising , but they are now facing serious consequences. So, paper currency cannot be totally avoided.



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December 28, 2016, 03:12:24 PM
 #2446

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. In india, the government is trying to ban paper currency totally by demonitising , but they are now facing serious consequences. So, paper currency cannot be totally avoided.

I don't think so, paper money is currently in danger of being replaced by digital currency or electronic money.  Government are now looking at the Cashless society where paper money is not needed.  If ever the study and experiment of implementation of Cashless Society succeed, then probably we won't be seeing paper money anytime soon.  There goes the saying:

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December 28, 2016, 03:15:02 PM
 #2447

The future of paper money seems brighter tan ever. I see no threat to the future of paper money. Obviously most of the government is trying to introduce cashless transaction and promotion digital awareness, but that doesn't mean that paper money will be worthless.

The economy size of the country will be determined by the money available in the country physically and not electronically. So paper money will never be worthless even after 20 years.

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December 28, 2016, 04:35:35 PM
 #2448

The future of paper money seems brighter tan ever. I see no threat to the future of paper money. Obviously most of the government is trying to introduce cashless transaction and promotion digital awareness, but that doesn't mean that paper money will be worthless.

The economy size of the country will be determined by the money available in the country physically and not electronically. So paper money will never be worthless even after 20 years.

20 years is a really small period of time, we should think about higher then that, and for sure there are chances of digital money taking over paper money in future, because every thing has to be updated once after it gets too old and now the technology has reached to the sky and i'm sure this revolution will take place too.
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December 28, 2016, 09:30:42 PM
 #2449

The future of paper money seems brighter tan ever. I see no threat to the future of paper money. Obviously most of the government is trying to introduce cashless transaction and promotion digital awareness, but that doesn't mean that paper money will be worthless.

The economy size of the country will be determined by the money available in the country physically and not electronically. So paper money will never be worthless even after 20 years.

20 years is a really small period of time, we should think about higher then that, and for sure there are chances of digital money taking over paper money in future, because every thing has to be updated once after it gets too old and now the technology has reached to the sky and i'm sure this revolution will take place too.
As for me, the paper money is also very useful, and I tell the truth really will be upset if they cease to exist. I think that their life will still continue, but how much long I do not know.
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December 28, 2016, 09:35:29 PM
 #2450

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

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December 28, 2016, 09:56:45 PM
 #2451

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.
I understand that people like are calculated in the shops and services of digital money. For this is the future. But how do the people of glubinok, which sometimes do not even have internet. Yes Yes. That there are still within the scope of the world. For a long time.
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December 28, 2016, 10:12:35 PM
 #2452

Paper money will go into the past just as fast, which will introduce new technology in the world at every step that it was available to the general public.
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December 28, 2016, 10:23:02 PM
 #2453

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.



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ANN Thread
mikecgna
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December 28, 2016, 10:36:34 PM
 #2454

The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.
d-trixx
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December 28, 2016, 10:57:22 PM
 #2455

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.
If criminals or scammers want to or are intended to take my money, they did not stop. I do not think that a barrier for them if the money just in your pocket or in my electronic purse. Each specializes in its bandit methods of extraction of other people's money.
Capradina
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December 28, 2016, 11:06:23 PM
 #2456

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.
If criminals or scammers want to or are intended to take my money, they did not stop. I do not think that a barrier for them if the money just in your pocket or in my electronic purse. Each specializes in its bandit methods of extraction of other people's money.

It is indeed true and I see that the thieves have a lot of purses so it will drain a lot of time for us to be able to track and make calculations to him. And most of the thieves doing the action to those who only have a bad security. It all happened because everyone will certainly find a loophole that can be obtained, however I am sure that the online wallet that much better than the wallet in the other. Because in the online wallet we get double protection where we get protection from the providers and our own protection

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crockoo
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December 29, 2016, 10:29:58 AM
 #2457

The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.

the banking system will never go on cryptocurrency. The reason for this is that the banking system is controlled by the government. And it does not want to accept Bitcoin
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December 29, 2016, 01:56:06 PM
 #2458

The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.

the banking system will never go on cryptocurrency. The reason for this is that the banking system is controlled by the government. And it does not want to accept Bitcoin

Many countries have already accepted Bitcoin

So it all basically comes down to how they are going to categorize Bitcoin. If Bitcoin is legally accepted as a commodity, banks obviously would not be able to use it as a financial asset. On the other hand, if Bitcoin is considered as a foreign currency, and the same laws will be applicable to it just like to any other such currency, I see no legal reason why Bitcoin can't be used by banks. The government doesn't control any foreign currency after all, but this doesn't prevent banks from using these currencies, for example, to open deposit accounts in such a currency

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December 29, 2016, 03:13:38 PM
 #2459

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially το restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.
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December 29, 2016, 03:38:53 PM
 #2460

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially το restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

I believe it will only happen in a very far far away future. In the present days, the technology already advanced a lot and reached to many places, but there are still a lot of people living without the information, technology and progress. Until these people left the paper money to start using only virtual transactions, will take a lot of time. Things are advancing, but there are a lot of time yet until we reach to a cashless society.

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