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Author Topic: The future of the paper money  (Read 403547 times)
marcoman22
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January 13, 2017, 04:27:39 AM
 #2561

Paper money would still survive. In india also, same measures are taken to convert people to cashless transactions. They have banned most notes and it has caused lots of inconveniences to people. Most people know only about paper money. Security is also a big issue in digital transactions as you lots of news coming about credit card passwords stolen. Paper money would be in existence but its usage will be much less compared to current situation.
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January 13, 2017, 04:39:37 AM
 #2562

Paper money would still survive. In india also, same measures are taken to convert people to cashless transactions. They have banned most notes and it has caused lots of inconveniences to people. Most people know only about paper money. Security is also a big issue in digital transactions as you lots of news coming about credit card passwords stolen. Paper money would be in existence but its usage will be much less compared to current situation.

That's why paper money will always be important and what happened to India upon banning their rs' did really made a lot of inconvenience.

I feel sorry for those people there. Security is really not guaranteed in digital transactions and so with digital wallets because a lot of cases that many invaders manage to monitor those people.

And it is hard to make yourself secured from it as long as you are connected in internet. Everyone is watching you.

There will be always a need for paper money.



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January 13, 2017, 06:50:44 AM
 #2563

Paper money would still survive. In india also, same measures are taken to convert people to cashless transactions. They have banned most notes and it has caused lots of inconveniences to people. Most people know only about paper money. Security is also a big issue in digital transactions as you lots of news coming about credit card passwords stolen. Paper money would be in existence but its usage will be much less compared to current situation.

That's why paper money will always be important and what happened to India upon banning their rs' did really made a lot of inconvenience.

I feel sorry for those people there. Security is really not guaranteed in digital transactions and so with digital wallets because a lot of cases that many invaders manage to monitor those people.

And it is hard to make yourself secured from it as long as you are connected in internet. Everyone is watching you.

There will be always a need for paper money.
There's no perfect method or system that we can use where we can avoid others from watching us, what you are pointing is only the negative things about online transaction but if you could see how many crimes committed in a day due to stealing money and robbers rob banks to get deposits you can say that it's more safer with online transaction. Now, we have bitcoin that we can be anonymous, hence it makes it more safer. Paper money is convenient but not safe enough though.

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January 13, 2017, 10:37:12 AM
 #2564

Well, ultimately, it all depends on the adoption of bitcoin. But I don't think that paper money will be diminished anytime soon. It's true that we are living in a fast-paced and digital world, but technology itself has some flaws and we want to make sure that we have a fallback in case digital currency takes its place in society. Because I'm sure that people will always want something that they can hold on to.

If a lot of people start using and promoting it, the end of paper money is inevitable but if the public leans the other way, then it will never be possible. It's just a matter of which one is more accessible and easy to use for the public.

On top of that, many people already are used to trusting banks, so it will be hard for them to trust technology in order to switch to bitcoin. Many people are afraid of hacks, scams and other security issues. This is one of the major issues to overcome.


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January 13, 2017, 12:48:34 PM
 #2565

Well, ultimately, it all depends on the adoption of bitcoin. But I don't think that paper money will be diminished anytime soon. It's true that we are living in a fast-paced and digital world, but technology itself has some flaws and we want to make sure that we have a fallback in case digital currency takes its place in society. Because I'm sure that people will always want something that they can hold on to.

If a lot of people start using and promoting it, the end of paper money is inevitable but if the public leans the other way, then it will never be possible. It's just a matter of which one is more accessible and easy to use for the public.

On top of that, many people already are used to trusting banks, so it will be hard for them to trust technology in order to switch to bitcoin. Many people are afraid of hacks, scams and other security issues. This is one of the major issues to overcome.



You're right there and digital currency mainly relies on online access and connection which not only is unavailable in some parts of the world, but is prone to sabotage and manipulation. A lot of people still feel safer if they hols their money physically in their hands

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January 13, 2017, 01:05:06 PM
 #2566

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.

Yes we still have to see what is gonna happen of course but most likely it will slowly disappear over the years that are coming.
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January 13, 2017, 01:10:47 PM
 #2567

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.
Assuming that paper money would disappear unlikely to ever happen. behold now, data storage technology is very advanced, but all of them are still using paper. just as later, though the use of digital money is already massive, any country will keep the paper money.
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January 13, 2017, 01:50:03 PM
 #2568

China is already working into their digital currencie, another altcoin, but as i know it will be centralized, soo it will give others countries the time and the vision to see what will happen with those. I dont see paper money being present on the next 30 years, almost all people does have a phone and internet its getting cheaper, soon it will be free and only phone had to be bought.


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January 13, 2017, 01:55:27 PM
 #2569

China is already working into their digital currencie, another altcoin, but as i know it will be centralized, soo it will give others countries the time and the vision to see what will happen with those. I dont see paper money being present on the next 30 years, almost all people does have a phone and internet its getting cheaper, soon it will be free and only phone had to be bought.

china I think could do whatever they want, Now they are about to release their own digital money. It's centralized for sure and most probably it will be a manipulated and regulated one.

But anyway, back to the topic, I still don't see paper money disappear in the next years, the creation of digital money could only decrease the use of paper money but for sure it will still be there, and if paper money has no use in the future, it will still be present, just remember those postage stamps, not needed but still present and being collected.

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January 13, 2017, 02:37:07 PM
 #2570

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.
perhaps 20 years to come. digitial money will be more and more and become rampant. but I do not think that paper money will actually disappear. I think there is a transaction that can not be done online or using digital money

   
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January 13, 2017, 03:17:26 PM
 #2571

Paper money would still survive. In india also, same measures are taken to convert people to cashless transactions. They have banned most notes and it has caused lots of inconveniences to people. Most people know only about paper money. Security is also a big issue in digital transactions as you lots of news coming about credit card passwords stolen. Paper money would be in existence but its usage will be much less compared to current situation.

That's why paper money will always be important and what happened to India upon banning their rs' did really made a lot of inconvenience.

I feel sorry for those people there. Security is really not guaranteed in digital transactions and so with digital wallets because a lot of cases that many invaders manage to monitor those people.

And it is hard to make yourself secured from it as long as you are connected in internet. Everyone is watching you.

There will be always a need for paper money.

I really can't agree with you. Everywhere in the world banks under the blessings of corresponding governments try to restrict paper money. About 1/3 of people (2.5 billion) worldwide has not bank status. http://www.worldbank.org/en/news/feature/2012/04/19/three-quarters-of-the-worlds-poor-are-unbanked. That means banks cannot control people's wealth. Blockchain technology is a gift for them. They already start to experiment with their digital coins using centralized distributed ledgers.https://www.ft.com/content/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c About one year ago the biggest independent bank in Estonia developed a digital coin, said CUBER, using programmable money issued €100,000 and blockchain technology.
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January 13, 2017, 05:05:53 PM
 #2572

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.
perhaps 20 years to come. digitial money will be more and more and become rampant. but I do not think that paper money will actually disappear. I think there is a transaction that can not be done online or using digital money

I dont know if hat become global, but banks are already allowing several services to be made from home at the phone, like pay bills, scanning the code bars, transfer and follow the account funds anytime, soo i wont be surprised that banks reduce their employers and became digital in the next years, but for those happens internet must be free.

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January 13, 2017, 05:54:29 PM
 #2573

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.
yes currently there is nothing wrong to paper money, because still almost all the people of the world using fiat currency, but as soon as the trend of online currency is increasing the value of fiat currency is decrease, and a time can come when all the people of the world will be using online currency.



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Mastsetad
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January 13, 2017, 06:03:15 PM
 #2574

yes currently there is nothing wrong to paper money, because still almost all the people of the world using fiat currency, but as soon as the trend of online currency is increasing the value of fiat currency is decrease, and a time can come when all the people of the world will be using online currency.

Time will surely clear everything. Though we feel that the world will turn its face towards digital currencies and fiat will disappear but still somewhere in the mind it keeps poping up that there will still be people willing to use fiat even after a revolution of digital currency in the world.
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January 13, 2017, 06:52:42 PM
 #2575

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.

Yes we still have to see what is gonna happen of course but most likely it will slowly disappear over the years that are coming.

I don't think that paper money will be diminished anytime soon. It's true that we are living in a fast-paced and digital world, but technology itself has some flaws and we want to make sure that we have a fallback in case digital currency takes its place in society.

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January 13, 2017, 07:29:15 PM
 #2576

yes currently there is nothing wrong to paper money, because still almost all the people of the world using fiat currency, but as soon as the trend of online currency is increasing the value of fiat currency is decrease, and a time can come when all the people of the world will be using online currency.

Time will surely clear everything. Though we feel that the world will turn its face towards digital currencies and fiat will disappear but still somewhere in the mind it keeps poping up that there will still be people willing to use fiat even after a revolution of digital currency in the world.

The revolution has only started, so yeah, it will definitely take some time till all the world switches to digital currency. I think we shouldn't rush things. We shouldn't expect that the world will not only accept BTC and other cryptos but also will renounce fiat currency which was accepted by it long time ago in a matter of several years.

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January 13, 2017, 07:29:42 PM
 #2577

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.
That could be true for developed nations but for nations which are poor there is no way to get out of paper money in 20 years even if the technology became incredibly cheap, most of the world population will not able to afford the technology necessary to replace paper money.



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January 14, 2017, 03:43:21 AM
 #2578

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.

Yes we still have to see what is gonna happen of course but most likely it will slowly disappear over the years that are coming.

I don't think that paper money will be diminished anytime soon. It's true that we are living in a fast-paced and digital world, but technology itself has some flaws and we want to make sure that we have a fallback in case digital currency takes its place in society.

Also Because I'm sure that people will always want something that they can hold on to and they can trust too. In Digital Currency they cant hold physically and also not sure its stability, so that why Paper money existence cannot be denied.

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January 14, 2017, 09:54:13 AM
 #2579

Paper money would still survive. In india also, same measures are taken to convert people to cashless transactions. They have banned most notes and it has caused lots of inconveniences to people. Most people know only about paper money. Security is also a big issue in digital transactions as you lots of news coming about credit card passwords stolen. Paper money would be in existence but its usage will be much less compared to current situation.

That's why paper money will always be important and what happened to India upon banning their rs' did really made a lot of inconvenience.

I feel sorry for those people there. Security is really not guaranteed in digital transactions and so with digital wallets because a lot of cases that many invaders manage to monitor those people.

And it is hard to make yourself secured from it as long as you are connected in internet. Everyone is watching you.

There will be always a need for paper money.
There's no perfect method or system that we can use where we can avoid others from watching us, what you are pointing is only the negative things about online transaction but if you could see how many crimes committed in a day due to stealing money and robbers rob banks to get deposits you can say that it's more safer with online transaction. Now, we have bitcoin that we can be anonymous, hence it makes it more safer. Paper money is convenient but not safe enough though.


Or should I say that both are not safe for the possibility of any crimes can be committed regardless on how you are tight in securing yourself with it.

Let's just use both for whatever good purpose that we can. Because it depends on the individual users on they are convenient with it.

And I'm convenient on using them both and I can adopt whether the future of paper money will be obsolete or will remain.



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January 14, 2017, 05:48:59 PM
 #2580

The future will make us became digital, that we all know, the currenty security system is week against hackers in the general, soo expect some big increase into the security level, maybe a hash wall like bitcoin does have to avoid any kind of attack. The bitcoin hash is exposed, but the companie that might offer the hash service wont expose the ammount soo no one knows how big or small it is, i believe this will happen with fiat, since i dont see any other way such safe as the hash wall.

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