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Author Topic: The future of the paper money  (Read 403641 times)
gabmen
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January 21, 2017, 06:22:50 PM
 #2641

We will end up going towards a cashless society, but this will take a while. To be honest, in Dubai it pretty much is a cashless society there.
I think for America it will have to take more time since there is so much paper currency and it will take a while for it to be adopted.

we can end up goind towards a cashless society, but still it would take time to wait for that time. but still cashless society that runs by the crypto would be better as it saves the nature and it is more easy to carry and to use. bitcoin will always be a good thing for todays time, because this time technology is now going boundless. meaning we can do or invent something useful that can help our nature to regenarate. bitcoin can help nature by minimizing the printings of fiats that uses papers.

Well there's that possibility already and you're right, in dubai, they've mostly gone cashless already but to implement that to majority of the world's population, it may take decades or more. Paper money has been in use for such a long time already that for now, it would be unthinkable for aot of people to veer away from using it.

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January 21, 2017, 06:26:31 PM
 #2642

We will end up going towards a cashless society, but this will take a while. To be honest, in Dubai it pretty much is a cashless society there.
I think for America it will have to take more time since there is so much paper currency and it will take a while for it to be adopted.

we can end up goind towards a cashless society, but still it would take time to wait for that time. but still cashless society that runs by the crypto would be better as it saves the nature and it is more easy to carry and to use. bitcoin will always be a good thing for todays time, because this time technology is now going boundless. meaning we can do or invent something useful that can help our nature to regenarate. bitcoin can help nature by minimizing the printings of fiats that uses papers.

Well there's that possibility already and you're right, in dubai, they've mostly gone cashless already but to implement that to majority of the world's population, it may take decades or more. Paper money has been in use for such a long time already that for now, it would be unthinkable for aot of people to veer away from using it.

this day, paper money is being used by the majority of the world. but we cant say that crypto currencies cant be implemented on the near future. some countries still dont know what are those cryto coins. maybe if those coins are introduced and had a seminars about implementing it. maybe crypto coins can be used as the main money of all the country.

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January 21, 2017, 06:29:39 PM
 #2643

Paper money is only limited by earth's supply of trees Smiley

At least digital currency is "backed" by the mining's ever-soaring level of difficulty. This built-in scarcity model prevents deflation of bitcoin value, raises the miners' bar for return on investment, and thereby guarantees a steady climb in price. Each transaction buyer wants to hold for a later price rise, and so on down the line. Not every trader can outwait their own need for their own fiat currency, so naturally there are trades at a loss. Whoever has the most patience and greatest wealth can end up with a large hoard of bitcoins.

Mining difficulty in no way backs the value of bitcoin. Mining difficulty is only a result of how many computers are solving the algo that mints coins. Whether bitcoin was worth $1000 or $1, it wouldn't directly affect the difficulty of the mining. 

The built-in scarcity does not give it a floor value. If that was true, any altcoin with fewer than 21 million possible coins would have a price point higher than bitcoin. What gives bitcoin value is the collective belief by people holding it or seeking to buy it that it will continue to have value. It's just a confidence game.


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January 22, 2017, 06:59:42 AM
 #2644

Paper money is only limited by earth's supply of trees Smiley

At least digital currency is "backed" by the mining's ever-soaring level of difficulty. This built-in scarcity model prevents deflation of bitcoin value, raises the miners' bar for return on investment, and thereby guarantees a steady climb in price. Each transaction buyer wants to hold for a later price rise, and so on down the line. Not every trader can outwait their own need for their own fiat currency, so naturally there are trades at a loss. Whoever has the most patience and greatest wealth can end up with a large hoard of bitcoins.

Mining difficulty in no way backs the value of bitcoin. Mining difficulty is only a result of how many computers are solving the algo that mints coins. Whether bitcoin was worth $1000 or $1, it wouldn't directly affect the difficulty of the mining. 

The built-in scarcity does not give it a floor value. If that was true, any altcoin with fewer than 21 million possible coins would have a price point higher than bitcoin. What gives bitcoin value is the collective belief by people holding it or seeking to buy it that it will continue to have value. It's just a confidence game.
Well in mining there is more chance of running out coins to be mines than trees running out first. Also if Trees are the problem there is a lot of ways now creating a new fiat currency and that is the use of Fibers from fruits and other materials. Also the government does not need to develop new prints of money because it creates an imbalance in the economy. Remember they control the flow of currency in the country.

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January 22, 2017, 10:30:41 AM
 #2645

I think no I preferred using fiat money ir paper money for may daily lives because if you will replace paper money with bitcoins how will vendors work? How will beggar can obtaine money from begging? So it is beyond impossible to replace paper money with bitcoins although I preferred bitcoin in online transaction but in over all I will go fir paper money because it something you can keep.


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January 22, 2017, 12:39:34 PM
 #2646

I think no I preferred using fiat money ir paper money for may daily lives because if you will replace paper money with bitcoins how will vendors work? How will beggar can obtaine money from begging? So it is beyond impossible to replace paper money with bitcoins although I preferred bitcoin in online transaction but in over all I will go fir paper money because it something you can keep.
It's not impossible if time will come that bitcoin will replace paper money, but that time then, the beggars are more advance. lol..

But seriously, are you really that concern about the beggars that it's one of the factors you considered as hindrance why paper money should not be replace? Actually, my prediction is it will not happen that bitcoin will replace paper money, however, we do not foreseen nor hold the future, anything can happen and that include the possibilities on the aforementioned.

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January 22, 2017, 06:39:57 PM
 #2647

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.
Governments already control the money supply, after all they are the ones printing it, they want to monitor every single transaction made, according to them they want to do this for the public safety but it is nothing but a lie, they want full control of you and your money.
very honestly governments are responsible for providing basic needs, security and shelter to their to their citizen, therefor they must have full control over all the activities of their citizens, and may that is the main reason that they are not accepting bitcoin as legal currency, but i am still hopeful that still they will find out some good solution for that problem and will accept bitcoin without effect the original status of bitcoin.
Disagree, governments must have some degree of control over their citizens that is true but to have full control over the activities of their citizens as you suggest? Of course not, why the governments of the world need to know if you like football better than baseball? Theres is not a reason for that but that is what they are doing.



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January 22, 2017, 11:23:52 PM
 #2648

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature
i do not think that it is so easy that the future of fiat will come to an end. i think it will continue for long long time. because still there is not any other currency that can compet fiat. although bitcoin is becoming popular from time to time, but it still it will take decades to replace fiat. as still even not 1% people are using bitcoin.
yes that is a fact fiat is not going to an end so easily, because fiat is still the main currency of the people and they are using it primarily while those people who know about bitcoin are still taking it as secondary option. because bitcoin is still not using for shopping everywhere.
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January 23, 2017, 02:59:50 AM
 #2649

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature
i do not think that it is so easy that the future of fiat will come to an end. i think it will continue for long long time. because still there is not any other currency that can compet fiat. although bitcoin is becoming popular from time to time, but it still it will take decades to replace fiat. as still even not 1% people are using bitcoin.
yes that is a fact fiat is not going to an end so easily, because fiat is still the main currency of the people and they are using it primarily while those people who know about bitcoin are still taking it as secondary option. because bitcoin is still not using for shopping everywhere.

It is true when all of us will be going to use bitcoin, we all know that bitcoin will be going to be on impact. We see our primarily money is a paper money. We should all see what will be effects of bitcoin on our paper money?, is this still be on its true value? or it will be going to be one of our negative effect on our own monetary value?

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January 23, 2017, 03:54:42 AM
 #2650

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature
i do not think that it is so easy that the future of fiat will come to an end. i think it will continue for long long time. because still there is not any other currency that can compet fiat. although bitcoin is becoming popular from time to time, but it still it will take decades to replace fiat. as still even not 1% people are using bitcoin.
yes that is a fact fiat is not going to an end so easily, because fiat is still the main currency of the people and they are using it primarily while those people who know about bitcoin are still taking it as secondary option. because bitcoin is still not using for shopping everywhere.

It is true when all of us will be going to use bitcoin, we all know that bitcoin will be going to be on impact. We see our primarily money is a paper money. We should all see what will be effects of bitcoin on our paper money?, is this still be on its true value? or it will be going to be one of our negative effect on our own monetary value?
Possibly it will make a negative effect of our fiat money and I don't think it will happen soon or in the future. We are very positive with accepting bitcoin in our daily life activities but that would not mean that we have to let go of fiat system. We have to do some reality check here, aren't we? Almost all of the transactions in the world are depending on fiat to make it successful, so it's hard to sacrifice the current situation.

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January 23, 2017, 07:11:19 AM
 #2651

Paper money is there and will be there though it may be more for a local reasons. While for money transferring if btc and block chain technology if country approves then for money remittance this could be used and has a bright future.

Yes it can be a good use for all of us that wants to use bitcoin for remitting money but still paper money will always remain. It's like that the remittance center will just send the amount that their customer desires to send. Then after sending, their branch to the receiver will just give it to them in terms of paper money.

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January 23, 2017, 07:30:32 AM
 #2652

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

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January 23, 2017, 07:43:59 AM
 #2653

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...  Smiley

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January 23, 2017, 08:06:45 AM
 #2654

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.
interesting thought , but there is a lot of crumbly paper too ,
so it shouldn't be a problem anymore if they want to keep printing the pape money ,
imho applying digital money needed hundred years ,
so i doubt within 50 year paper moneycan be replaced.

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January 23, 2017, 08:16:34 AM
 #2655

I think in the coming two decades paper money will be vanished and will be replaced by the new form of payments , now in first world like euro zone,USA and Russia many prefer not to use the paper money , so only grand mothers\fathers believe else than that . i hope Bitcoin and other alts will play a basic role in the future regard to this .

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January 23, 2017, 08:32:41 AM
 #2656

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...  Smiley
either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so  think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.



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January 23, 2017, 08:35:39 AM
 #2657

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...  Smiley
either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so  think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...  Smiley

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January 23, 2017, 08:38:22 AM
 #2658

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...  Smiley
either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so  think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...  Smiley
It cant really be stopped since its being backed by the government and its existence would still remain and strong no matter what. Bitcoin maybe a trend on future but fiat would still be there the future would be the same.Id government would decide to create their own currency they will surely use another coin and would not tend to use bitcoin since its not controllable.

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January 23, 2017, 09:56:49 AM
 #2659

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...  Smiley
either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so  think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...  Smiley
It cant really be stopped since its being backed by the government and its existence would still remain and strong no matter what. Bitcoin maybe a trend on future but fiat would still be there the future would be the same.Id government would decide to create their own currency they will surely use another coin and would not tend to use bitcoin since its not controllable.
Sonner or later, the government system will collapse due to many reasons. People love freedom and they do not like being controlled by other people. Therefore, in about 100 years later, we will see a lot of protest, war, chaos, etc about knocking down the centralized system. Bitcoin will become the main currency and people will burn FIAT into ash

Hammerschmidt
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January 23, 2017, 03:19:14 PM
 #2660

I think in the coming two decades paper money will be vanished and will be replaced by the new form of payments , now in first world like euro zone,USA and Russia many prefer not to use the paper money , so only grand mothers\fathers believe else than that . i hope Bitcoin and other alts will play a basic role in the future regard to this .

We've been on the way to becoming a cashless society for a while now. ATM cards are largely replacing your actual currency, and credit cards become like mini-loans to extend the cash you don't have on hand that you weren't using anyway because you have a debit card Smiley
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