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Author Topic: The future of the paper money  (Read 404034 times)
Kotone
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January 26, 2017, 03:30:22 PM
 #2701

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.
I think this won't happen it just a prediction that will never be happen on this setiation even the most professional people will not tell this that will collapse paper money? No way dude they will be still using paper money because of big help.

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January 26, 2017, 03:55:35 PM
 #2702

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.
The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.
yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.
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January 26, 2017, 05:25:33 PM
 #2703

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.
The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.
yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.

It is even fairly possible that fiat will still remain as a main money until our generation . For bitcoin to be the main currency we can conclude that the worlds technology did a complete upgrade Since bitcoin is powered by internet the world should have a global internet first and right now, Poverty in our world keeps increasing I highly doubt that we will see bitcoin rise that much cause we're probably dead by that time .


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January 26, 2017, 10:14:16 PM
 #2704

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.
Money is no longer just paper, if you touch the new bills from most countries you will realize they feel a lot more like plastic, besides if at some point the earth was in that bad of a shape you could bet priority will be given to print money over anything else.



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January 26, 2017, 10:54:38 PM
 #2705

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.
The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.
yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.

It is even fairly possible that fiat will still remain as a main money until our generation . For bitcoin to be the main currency we can conclude that the worlds technology did a complete upgrade Since bitcoin is powered by internet the world should have a global internet first and right now, Poverty in our world keeps increasing I highly doubt that we will see bitcoin rise that much cause we're probably dead by that time .
we can see that that new generation trend is already changing toward online digital currency and they are using online currency for shopping and so may other activities. therefore we can say that our next generation will be using bitcoin as their main currency.

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January 27, 2017, 08:41:52 AM
 #2706

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.
I think so that the paper money is doomed to limit consumer, technology has advanced and complicated it is to force something that will be replaced with something more sophisticated and easy to use
It maybe doomed but I still can see it being used by people or country that is left behind in technology.  I think it will take long years before this paper money stops in circulating.  Developed country might trash it and change to more advance electronic money, but developing country will more likely take century to totally implement electronic money and leave paper money era.
I think it is not such an easy task although the trend of people is changing but still it will take a lot of time, because not a single crypto currency including bitcoin can provide you all the facilities the fiat currency is providing us. I think it will take decades when we will be able to use bitcoin for trading and purchasing everything we want to buy in our local shops, therefore I think the future of fiat is still safe.

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January 27, 2017, 09:02:43 AM
 #2707

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.
Money is no longer just paper, if you touch the new bills from most countries you will realize they feel a lot more like plastic, besides if at some point the earth was in that bad of a shape you could bet priority will be given to print money over anything else.
there always pros and cons , if paper money damage our earth then digital money would have lack of security. anyways if i have to choose which one between both of course i would like to choose we have to move to digital money where everything run more flexible. the security problem could be solved as time goes by right?

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January 27, 2017, 09:14:00 AM
 #2708

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.
Money is no longer just paper, if you touch the new bills from most countries you will realize they feel a lot more like plastic, besides if at some point the earth was in that bad of a shape you could bet priority will be given to print money over anything else.
there always pros and cons , if paper money damage our earth then digital money would have lack of security. anyways if i have to choose which one between both of course i would like to choose we have to move to digital money where everything run more flexible. the security problem could be solved as time goes by right?

It is unavoidable, when we use our natural resources we are damaging it. Same as if money becomes digital, we will be using more and more electricity each day, so the result is the same. As for me, I want it to be digital too, but with regards to the OP, I am sure, paper money will still survive more years, until the governments decided to stop the use of it or until all the sources of printing paper money is been depleted.

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January 27, 2017, 09:30:58 AM
 #2709

I think the paper money will continue to exist, just as the document that is still printed on paper. Although everything is sophisticated, obviously proof in writing still needed. I'm sure, paper money would never disappear.
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January 27, 2017, 10:36:29 AM
 #2710

I think the paper money will continue to exist, just as the document that is still printed on paper. Although everything is sophisticated, obviously proof in writing still needed. I'm sure, paper money would never disappear.

I do believe too that paper money will not disappear and only government can decide if it is going to be cut out of the circulation, but with regards to the documents, well, I think there is a chance that it will be gone soon...

Just take a look at the birth certificate in some countries, the government agency that handles it has a soft copy of it and just print out a copy if you need one.. What I mean is probably sooner or later this paper requirements might be accepted even if it is soft copy... One more thing is the ID's it is now being put into one single ID and scanned, what more in the future?  Smiley

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January 27, 2017, 10:39:22 AM
 #2711

I think the paper money will continue to exist, just as the document that is still printed on paper. Although everything is sophisticated, obviously proof in writing still needed. I'm sure, paper money would never disappear.
yes my be in modern countries the situation change a little early and they may adopt the new online digital currency, but in backward countries it may take much more time. because most of the back ward countries yet do not have the facilities of computer and internet.  their educational ratio is also still very low therefore we can expect that they will take comparatively more time to exchange their currencies.
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January 27, 2017, 11:13:43 AM
 #2712

I think the paper money will continue to exist, just as the document that is still printed on paper. Although everything is sophisticated, obviously proof in writing still needed. I'm sure, paper money would never disappear.
yes my be in modern countries the situation change a little early and they may adopt the new online digital currency, but in backward countries it may take much more time. because most of the back ward countries yet do not have the facilities of computer and internet.  their educational ratio is also still very low therefore we can expect that they will take comparatively more time to exchange their currencies.
The world does not move only for modern countries, there are many countries who are not too updated with the modern technology, hence they cannot adopt to the digital currencies but will prefer to use paper money for convenience. I think paper money and digital currency will always exist since in this world it will not happen that every country has the same economic situation.

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January 27, 2017, 11:33:40 AM
 #2713

Paper money will not become completely obsolete, but usage of it will become far less in the future. People in developing countries are not comfortable with cards.They dont want to use ATM cards for payments. Instead, they are interested to use ATM cards to take cash and pay in cash for their goods.Younger people are more comfortable in using cards for payment.Some may argue that if cards are used, transactions can be easily traced. But still, people will find other sources to hide their black money.So, paper money would last but its usage would be less.
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January 27, 2017, 12:21:09 PM
 #2714

Paper money is here to stay. When you check the history of the evolution of money, people used to do barter trade. Slowly, the system evolved to other commodities like silver diamond and gold. The evolution continued until now where we have electronic money. You can realize that those commodities (precious stones) that were used as currency (in exchange of goods) are now regarded highly. Similarly, paper money will not disappear but will have a more important meaning.

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January 27, 2017, 12:52:34 PM
 #2715

Paper money is here to stay. When you check the history of the evolution of money, people used to do barter trade. Slowly, the system evolved to other commodities like silver diamond and gold. The evolution continued until now where we have electronic money. You can realize that those commodities (precious stones) that were used as currency (in exchange of goods) are now regarded highly. Similarly, paper money will not disappear but will have a more important meaning.
It's very hard to remove what government has been imposing, they are in the power and although they will see something new that could help the transaction faster, they would only copy it but still they will regulate it. Just like what banks are doing, they are making their own blockchain because they are amaze by the system but they want it to be centralized.

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choppork
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January 27, 2017, 01:42:10 PM
 #2716

Paper money is here to stay. When you check the history of the evolution of money, people used to do barter trade. Slowly, the system evolved to other commodities like silver diamond and gold. The evolution continued until now where we have electronic money. You can realize that those commodities (precious stones) that were used as currency (in exchange of goods) are now regarded highly. Similarly, paper money will not disappear but will have a more important meaning.

Paper money is just paper money and those precious stones have value because they were mined and you can't just find them easily. It took a lot of effort to collect and process those, and those things are limited unlike the paper money that the government can print out whenever they wanted too.

I'm pretty sure that people have started accepting stuffs like silver and gold at first because they know that it's precious and valuable. Fiat money was created back then so it would be easier to pay someone and all fiat money was backed by gold. But now, it isn't backed by gold anymore which makes paper money just a simple paper that we accept in exchange to our goods. When everything goes down, these paper money would have no value.
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January 27, 2017, 01:52:19 PM
 #2717

Paper money is here to stay. When you check the history of the evolution of money, people used to do barter trade. Slowly, the system evolved to other commodities like silver diamond and gold. The evolution continued until now where we have electronic money. You can realize that those commodities (precious stones) that were used as currency (in exchange of goods) are now regarded highly. Similarly, paper money will not disappear but will have a more important meaning.

I think didn't read the history properly. Many years ago, kings used a copper coins, gold coins and etc. after we started exchanging commodity. We was indeed to evaluvate the value high volume products. That time only most of the kings introduced high number currencies as coins then paper money also raised but as coming Digital era. Money will be in digital format and that will be a bitcoin.

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January 27, 2017, 06:23:51 PM
 #2718

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.
The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.
That is a fact that the future trend is toward digital currency and as soon as people are adopting digital currency for different activities so the use of fiat will start decreasing.

Still, I think it’s not so easy to turn bitcoin as our mainly currency, because bitcoin cannot provide such activities that fiat currency is providing, but in future we can expect that bitcoin will be our main currency.
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January 27, 2017, 06:53:26 PM
 #2719

Many people are thinking that bitcoin will be paper money but i thiknk we have already a paper money which is our paper wallet contains private key. but bitcoin will never be the same as fiat that has paper money.. since bitcoin is just alternative payment processor we can only use it online and now many sites are accepting it even here in my school i found someone now are studying bitcoin and they are earnings few bitcoins ..

..Decision from segwit2x is not Final..
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January 27, 2017, 07:02:51 PM
 #2720

Many people are thinking that bitcoin will be paper money but i thiknk we have already a paper money which is our paper wallet contains private key. but bitcoin will never be the same as fiat that has paper money.. since bitcoin is just alternative payment processor we can only use it online and now many sites are accepting it even here in my school i found someone now are studying bitcoin and they are earnings few bitcoins ..
I also never heard of it. many people who say that perhaps bitcoin will be released in a form of paper money, and I also thought like that. but, basically bitcoin has had the best form, ie as cryptocurrency, and it has become a tool of the best deals on the internet. Well, I believe that paper money will only be used for the fiat, not for bitcoin.


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