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Author Topic: The future of the paper money  (Read 402148 times)
diegz
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January 11, 2017, 04:02:39 AM
 #2541

Paper money in 25 years again will decrease 50% from now and 40 years again will full disappear. Digital money will replace paper money, everyone will bring a card to replace paper money.

Probably it will decrease, to conserve our natural resources and everyone will just be required to use card and digital money. It's decrease and soon disappearance is unavoidable but that won't mean that bitcoin will replace paper money. Probably a digital money(centralized) form of today's paper money will be created, and will be used by many and probably bitcoin's use will still be the same.

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January 11, 2017, 05:10:00 AM
 #2542

State makes the issue of securities for a reason, and paper money, they too will defend to the last. It is through them can be in excess profits and keep people on a leash. Thus it is possible to understand that having a chance at freedom with bitcoin, they will not allow
Bitcoin is secure, the P2P thecnology is better than the paper money transaction system. We need millitary security to do million dollar transaction, I think it is so conventional. Also the inflation makes people get saturated to use fiat.
Although the paper money will be replaced by something more sophisticated like digital money. but not necessarily bitcoin fiber will be the main currency in the future. especially decentralized and anonymous nature of bitcoin. certainly government will not let bitcoin take over
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January 11, 2017, 06:55:58 AM
 #2543

Will not disappear, at least in the broad sense of the paper will not disappear. The material is sure to be changed (for example, some countries are starting to study plastic paper money). Notes not "made of paper currency, it should be the name of credit money.
Whether electronic money or financial derivatives, notes, coins, are dependent on the credit arising, are produced in the financial institutions have no credit, not worth a hair. Therefore, the concept of electronic money, or can not escape the scope of the broad notes.


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January 11, 2017, 01:22:35 PM
 #2544

Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment.
That's right. Paper money will stay the main mode of payment for many more years. Sometimes we forget that we, people who live in cities and who have a computer are not the biggest percent of people on the Earth. Those the biggest percent is going to use paper money for a long long time. And by the approximately calculation only 1 milliard of people in the final count will use bitcoin. But by my opinion bitcoin is money of future.
to me i think still paper money is important part of our life. i think most of the people are still depending on fiat currency, because i do not use or fiat in most of occasions,
No doubt, it's the most popular form of fiat money, with paper money, people does not need to use internet to transact like the digital money. It's very simple to use that's why it's popular as all of use can use it regardless of our educational attainment. It's like we are trading when we transact but personally.

True. Not everyone can afford an internet and they might also think why pay for internet if I could just use that money for another usage. Food or payment for rentals or maybe bills instead of wasting it for an internet. We cant erase that. Many people still thinks like rhat.
although in the future will all be completely online, including payment. I'm sure there must be something that requires a paper money for payment, whatever that
I believe that the digital currency will dominate, but it will not make the papers disappear

Correct. Not all people agree with the digital world. Some people just wants to be in a place where they live according to nature. They still think internet and everything is unhealthy and a lot also supports that. There will be some argument with this before it can all happen. I dont say it will not happen but there will be those who will oppose specially those who cling with the environment.

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January 11, 2017, 04:45:34 PM
 #2545

Governments also prefer digital money over paper, because it's very easy to track transactions. Cash is the main form of money for black market right now, and it's also used for tax evasions and other illegal activities. So, I think people will be reaching towards crypto currencies as governments push people away frosh cash.
using digital money, the government can control the velocity of money and where the money someone will go. yeah I think the government will just love it but is it that could make paper money disappear?
The government cannot control the velocity of money, that is something controlled by the users of fiat, all  of us, they can try but history has showed us they always fail, besides when the government tries to control the velocity of money is because something way worst is happening like big inflation.



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January 11, 2017, 05:02:30 PM
 #2546

Paper money in 25 years again will decrease 50% from now and 40 years again will full disappear. Digital money will replace paper money, everyone will bring a card to replace paper money.

Exactly, paper money will surely be replaced by digital systems in coming time because we all know that digital systems work much better than manual systems, so governments would surely apply this thing as well later on when they will realize they should do it, maybe they wont use crypto currencies for that but they can make their own digital currencies.
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January 11, 2017, 05:20:38 PM
 #2547

Governments also prefer digital money over paper, because it's very easy to track transactions. Cash is the main form of money for black market right now, and it's also used for tax evasions and other illegal activities. So, I think people will be reaching towards crypto currencies as governments push people away frosh cash.
using digital money, the government can control the velocity of money and where the money someone will go. yeah I think the government will just love it but is it that could make paper money disappear?
The government cannot control the velocity of money, that is something controlled by the users of fiat, all  of us, they can try but history has showed us they always fail, besides when the government tries to control the velocity of money is because something way worst is happening like big inflation.
paper money will never disappear. I guess it is the perfect form of currency that we use today. the current digital money can not be used at all places, so it will be difficult to use. after all, people have been accustomed to using paper money. so, paper money will continue to be used until any time and will not disappear


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January 11, 2017, 06:12:24 PM
 #2548

although in the future will all be completely online, including payment. I'm sure there must be something that requires a paper money for payment, whatever that
I believe that the digital currency will dominate, but it will not make the papers disappear

Paper money will never disappear not in this century, in before the increase in the dominance of internet which makes the use of electronic money as such, it has not even reduce the amount of paper notes being printed by the Central Bank. Paper money has being with us for ages and centuries and for any kind of currency to replace it means it has to be around if not that long then close to that or else, the worse that will happen is that they both co-exist.

It may not have reduces the number of paper notes in existence, but by share of how much money there is (physical vs. digital), it is certainly falling every year. In Oct. 2016, there was only 1.48 trillion physical USD in existence (https://www.federalreserve.gov/faqs/currency_12773.htm), for an economy with a GDP of over $17 trillion dollars. This represents that there is far, far more digital money than physical money in existence, and the proportion of physical to digital will continue to fall as the economy outgrows the pace of printing physical notes.


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January 11, 2017, 06:14:43 PM
 #2549

Governments also prefer digital money over paper, because it's very easy to track transactions. Cash is the main form of money for black market right now, and it's also used for tax evasions and other illegal activities. So, I think people will be reaching towards crypto currencies as governments push people away frosh cash.
using digital money, the government can control the velocity of money and where the money someone will go. yeah I think the government will just love it but is it that could make paper money disappear?
The government cannot control the velocity of money, that is something controlled by the users of fiat, all  of us, they can try but history has showed us they always fail, besides when the government tries to control the velocity of money is because something way worst is happening like big inflation.

The central bank does indeed control the pace of money creation through the use of interest rates. The central bank prints physical notes, but more money is created through fractional reserve banking, which is mostly digital. By raising the interest rates banks pay to the federal reserve, they can control the rate at which the banks are able to create new money through fractional reserve banking. By lowering the rates, the opposite happens.


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January 11, 2017, 06:48:56 PM
 #2550

It will be less more used but still will stay existing because we still need it for some payments and some countries cannot go fully digital.
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January 11, 2017, 07:44:59 PM
 #2551

Governments also prefer digital money over paper, because it's very easy to track transactions. Cash is the main form of money for black market right now, and it's also used for tax evasions and other illegal activities. So, I think people will be reaching towards crypto currencies as governments push people away frosh cash.
using digital money, the government can control the velocity of money and where the money someone will go. yeah I think the government will just love it but is it that could make paper money disappear?
The government cannot control the velocity of money, that is something controlled by the users of fiat, all  of us, they can try but history has showed us they always fail, besides when the government tries to control the velocity of money is because something way worst is happening like big inflation.

The central bank does indeed control the pace of money creation through the use of interest rates. The central bank prints physical notes, but more money is created through fractional reserve banking, which is mostly digital. By raising the interest rates banks pay to the federal reserve, they can control the rate at which the banks are able to create new money through fractional reserve banking. By lowering the rates, the opposite happens

You seem to be confusing something here

Obviously, you refer to reserve requirements which are the amounts that commercial banks are obliged to hold at the Fed (if we are talking about the US). The interest rates (federal funds rates) you refer to are the rates at which banks offer their excess reserve balances as short term (typically overnight) loans to other banks which fall short for money, for example, due to cash gaps. Moreover, in some countries (e.g. in Canada) banks don't have to keep any reserves at the central bank, i.e. their reserve requirements are equal to 0

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January 11, 2017, 08:25:15 PM
 #2552

The future of the paper money is not so good because of the fact that everything will be digital in the future all over the world, paper money will never disappear fully but it will partly.
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January 11, 2017, 08:29:09 PM
 #2553

In the nearest future i think paper money will disappear, because banks are doing everything for us to pay with cards, not with cash. The same goes for cryptocurrencies, online payments for the bills and etc. Why the heck you need a bunch of paper money if you have a card or internet, which you can use everywhere nowadays Cool

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January 11, 2017, 09:09:08 PM
 #2554

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
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January 11, 2017, 09:45:16 PM
 #2555

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
yeah something obsolete will be replaced with something new, more sophisticated, I know that paper money is very easy to use, but the digital money will be easier and will replace it in the future

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January 11, 2017, 09:55:09 PM
 #2556

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
yeah something obsolete will be replaced with something new, more sophisticated, I know that paper money is very easy to use, but the digital money will be easier and will replace it in the future
I agree, thats because bitcoin is better than fiat. For me bitcoin is as worth as gold. Some people is get saturated of using fiat then they convert it into gold or bitcoin. Bitcoin brings so many adavntage for us such no inflation.


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January 11, 2017, 10:30:21 PM
 #2557

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
yeah something obsolete will be replaced with something new, more sophisticated, I know that paper money is very easy to use, but the digital money will be easier and will replace it in the future
paper money will remain till last and it will not disappear even after 20 years but the use of paper money will be reduced much and maybe from some hands it disappear but will not escape from market and the use of bitcoin will be everywhere which is sure to happen.

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January 12, 2017, 05:40:00 PM
 #2558

Governments also prefer digital money over paper, because it's very easy to track transactions. Cash is the main form of money for black market right now, and it's also used for tax evasions and other illegal activities. So, I think people will be reaching towards crypto currencies as governments push people away frosh cash.
using digital money, the government can control the velocity of money and where the money someone will go. yeah I think the government will just love it but is it that could make paper money disappear?
The government cannot control the velocity of money, that is something controlled by the users of fiat, all  of us, they can try but history has showed us they always fail, besides when the government tries to control the velocity of money is because something way worst is happening like big inflation.

The central bank does indeed control the pace of money creation through the use of interest rates. The central bank prints physical notes, but more money is created through fractional reserve banking, which is mostly digital. By raising the interest rates banks pay to the federal reserve, they can control the rate at which the banks are able to create new money through fractional reserve banking. By lowering the rates, the opposite happens.
That is a mistake, that is not money velocity, that is money supply a different term, money velocity refers to how fast money changes hands, and that is not controlled by the government, when the velocity of money is very fast it means that no one wants to hold fiat for long periods of time and if that is happening then inflation must be out of control.



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January 12, 2017, 08:20:27 PM
 #2559

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
yeah something obsolete will be replaced with something new, more sophisticated, I know that paper money is very easy to use, but the digital money will be easier and will replace it in the future
I agree, thats because bitcoin is better than fiat. For me bitcoin is as worth as gold. Some people is get saturated of using fiat then they convert it into gold or bitcoin. Bitcoin brings so many adavntage for us such no inflation.

I hope you realize that if the paper money disappears doesn't mean bitcoin will replace it. and IF paper money did disappear governments will just create their own digital currency which they can control just like paper money.

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January 13, 2017, 03:58:49 AM
 #2560

Paper money is normal a good pay method but everything is indeed getting more digital and due to that we can say that it will disappear in about 20 years from now without any doubts.
yeah something obsolete will be replaced with something new, more sophisticated, I know that paper money is very easy to use, but the digital money will be easier and will replace it in the future
I agree, thats because bitcoin is better than fiat. For me bitcoin is as worth as gold. Some people is get saturated of using fiat then they convert it into gold or bitcoin. Bitcoin brings so many adavntage for us such no inflation.

I hope you realize that if the paper money disappears doesn't mean bitcoin will replace it. and IF paper money did disappear governments will just create their own digital currency which they can control just like paper money.
Everything is under the control of the government, if ordinary people can make a bitcoin like sytem, the government can easily make the same. Digital currency might be the trend in the future but I doubt if that will eliminate the popularity of paper money, it's still convenient to use paper money.

 
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