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Author Topic: The future of the paper money  (Read 404026 times)
gabmen
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January 29, 2017, 04:23:44 AM

Paper money is still a dominant type of currency in the future because this is very popular currency and its value is not fluctuating compared to crypto currency, and you cant expect its price to be like bitcoin that can spike up higher price. Few people knew bitcoin and it doesn't overcome the participation of fiat money at all because most people wants to earn bitcoin and exchanged it to fiat money through wallets online.

Yeah we cannot spend bitcoins directly for buying anything and if we have to do that then converting to fiat is the only choice left for us so I don't think that there is any threat to the future of paper money from bitcoins as bitcoin still needs a time to develop and reach to each and every corner of the world and if that happens in future its hard to believe that it will be used and accepted everywhere as a mode of payment.
Yeah and aside from that, i think people feel more secure if they can hold their money in their hands whenever they want to. People have been transcting exchanges from a long time when we're using barter system where there is an actual exchange of product going on. Bitcoin is not a physical currency and i think at best it would just be in support of paper money.

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January 31, 2017, 03:39:55 AM

The paper money is a gateway of btc for cashing out to fiat. In the future paper money will still be the same but we have an option to earn bitcoin along with paper money because they are compatible to each other. Although economy is always moving it doesn't mean paper money will vanish in the future but there maybe possibility that it will be use as worldwide digital currency partner soon if bitcoin will become progressive and successful.




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January 31, 2017, 05:36:50 AM

The paper money is a gateway of btc for cashing out to fiat. In the future paper money will still be the same but we have an option to earn bitcoin along with paper money because they are compatible to each other. Although economy is always moving it doesn't mean paper money will vanish in the future but there maybe possibility that it will be use as worldwide digital currency partner soon if bitcoin will become progressive and successful.

In the future we won't be needing to convert bitcoin to fiat, but for sure paper money will still be there, probably lesser and some of its components have been changed. It will never vanish even if new crisis arrive. What I only think that will make it vanish is when we don't have resources to use to print new paper money and the government starts to shift into something new.

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January 31, 2017, 06:47:08 AM

Even in advanced countries like US, where digital transactions are more, still paper currency exists.
People in most of developing countries even now dont know about credit cards and debit cards.
Digital currencies would reduce the paper currency usage to a considerable amount.
If paper money is used, it is accountable. But when digital transactions are used with digital currencies,there is no need to provide personal details and if altcoins providing anonymity are used for transactions, even transactions could not be traced.
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January 31, 2017, 07:17:50 AM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
nope I think the future of the currency will remain on fiat, of course fiat will make a version of the currency in accordance with the times such as virtual currency.



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January 31, 2017, 07:44:19 AM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
nope I think the future of the currency will remain on fiat, of course fiat will make a version of the currency in accordance with the times such as virtual currency.
Fiat is the present and the future but it will be in digital form, however, paper money will not be erase in the circulation as some people are comfortable in using it especially those who cannot comprehend the use of online transaction. We have different countries and there's a big population in a certain country, you can't expect they can adopt all.

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January 31, 2017, 07:56:37 AM

After the existence of the computer, the internet and Smartphones, newspapers and magazines are dead. The library no longer provide books, a significant change occurred. then what about the future of paper money? I think this is different, the paper money will be forever protected country, maybe some countries are already implementing a digital money, but it will never eliminate paper money.
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January 31, 2017, 08:07:20 AM

After the existence of the computer, the internet and Smartphones, newspapers and magazines are dead. The library no longer provide books, a significant change occurred. then what about the future of paper money? I think this is different, the paper money will be forever protected country, maybe some countries are already implementing a digital money, but it will never eliminate paper money.

That's not correct, the libraries just make an expansion and added computers and internet as part of it... But books? well, they are still there and I could still read old good books in the public libraries...Even mobile libraries still has books in them, though not many since it is bulky and heavy but still they carry few...  Smiley Same as in paper money, the government still provide fund to print paper money and replace the old bank notes...  Smiley

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January 31, 2017, 03:28:23 PM

paper money use is already decreasing due to wider use of electronic payment methods, but don't confuse less paper money with less fiat, people use just as much fiat as yesterday, and that's not going to change, we are just using less cash.

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January 31, 2017, 03:37:51 PM

paper money use is already decreasing due to wider use of electronic payment methods, but don't confuse less paper money with less fiat, people use just as much fiat as yesterday, and that's not going to change, we are just using less cash.

It is right, we are just using less cash. Because in short, we are using credit and debits cards, that's why we feel easy to use them instead of paper money. But it doesn't mean that we forget the fiat currency. Firstly we couldn't left it, our first use always be fiat instead of we use different type of cards.

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January 31, 2017, 06:45:17 PM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy

yes, as this fiat money like paypal,skrill,perfectmoney,payza,payeer and payonner only gives limited uses of it. as compared to bitcoin. bitcoin can do almost all of the other fiat money online like the one who i already told. bitcoin is so flexible that it can do all of the things that is possible. but what we are talking here is the paper money not the fiat money online.

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South Park
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January 31, 2017, 07:33:05 PM

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.
I think it would be a setback for the technology when bitcoin bitcoin create a paper version. because as you've said cryptocurrency or virtual currency has been the best form of a currency
We must avoid the existence of physical bitcoin or we will face the same fate that happen to gold, bankers horded their gold and the gold of others and then created paper backed by gold, and then they printed more paper than the gold they had in storage, let痴 not repeat the same mistake.



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Rainbot
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January 31, 2017, 09:21:42 PM

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.
I think it would be a setback for the technology when bitcoin bitcoin create a paper version. because as you've said cryptocurrency or virtual currency has been the best form of a currency

Paper bitcoins (otherwise known as bitnotes) can be useful too

As with everything else, Bitcoin faces the last mile problem. To transact with it, you need Internet access (just like with Internet banking). Bitnotes can effectively solve this issue if they are issued in a unified way as well as accepted by major Bitcoin payment processors (Bitcoin protobanks) which have physical presence. As to me, the advantages of paper bitcoins heavily outweigh possible drawbacks and problems that could arise. But these may not be possible until governments universally accept Bitcoin as a legit means of payment

bncbnc
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January 31, 2017, 09:50:43 PM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
I think in future paper money will still be the same because we are using bitcoin as a option we can not spend bitcoin directly to buying anything so new generation will still  prefer to use paper money as bitcoin can be complicated for them so they will use paper money as they are using..

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DarkIT
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January 31, 2017, 10:02:25 PM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
I think in future paper money will still be the same because we are using bitcoin as a option we can not spend bitcoin directly to buying anything so new generation will still  prefer to use paper money as bitcoin can be complicated for them so they will use paper money as they are using..
I think today is not only bitcoin only growing. but also paper money, and other payment processor. I also believe, in the future, they all still have the same position, but bitcoin might be better than all that. moreover, this time the people have been pointing toward digital transactions. it may be made of paper money be used. but it remains to be famous.

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January 31, 2017, 11:01:14 PM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
I think in future paper money will still be the same because we are using bitcoin as a option we can not spend bitcoin directly to buying anything so new generation will still  prefer to use paper money as bitcoin can be complicated for them so they will use paper money as they are using..
for bitcoin myself I agree that it might just bitcoin will become an option for the fiat currency in the future, but I think that paper money may be lost or replaced by something sophisticated than fiat own future

mirakal
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February 01, 2017, 02:31:19 AM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
I think in future paper money will still be the same because we are using bitcoin as a option we can not spend bitcoin directly to buying anything so new generation will still  prefer to use paper money as bitcoin can be complicated for them so they will use paper money as they are using..
for bitcoin myself I agree that it might just bitcoin will become an option for the fiat currency in the future, but I think that paper money may be lost or replaced by something sophisticated than fiat own future
That is easier said than done, by doing it, you will have to sacrifice the majority of users in this world. Paper money is the most convenient means to use for transaction and people has been using it for many years. Although we are moving slowly into a digital world but this people must be considered, thus, digital currency alongside with paper money will exist.

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choppork
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February 01, 2017, 05:51:35 AM

There is no future for fiat money,paypal,skrill,perfectmoney,payza,payeer,payoneer and and other fiat money online wallet there are past.There is only future for cryptocurrencies which everybody almost likes Cheesy
I think in future paper money will still be the same because we are using bitcoin as a option we can not spend bitcoin directly to buying anything so new generation will still  prefer to use paper money as bitcoin can be complicated for them so they will use paper money as they are using..
for bitcoin myself I agree that it might just bitcoin will become an option for the fiat currency in the future, but I think that paper money may be lost or replaced by something sophisticated than fiat own future
That is easier said than done, by doing it, you will have to sacrifice the majority of users in this world. Paper money is the most convenient means to use for transaction and people has been using it for many years. Although we are moving slowly into a digital world but this people must be considered, thus, digital currency alongside with paper money will exist.

People are using paper money because they don't have any other options or they aren't aware that there's bitcoins. When you say the term "money" to an average person, he'd automatically think of fiat money and nothing else. Bitcoin is still in its early stage and it would take tons of time before it becomes mainstream.

Money is the most convenient means to use for transaction if you're having a deal person to person. But if you're going to send money abroad or somewhere else, bitcoin would be much better to use. Bitcoin doesn't have huge transaction fees, the effort that you'll do to send money is very minimal, and the time of transaction is fast at most times.
Grdas130979
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The truth is out there


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February 01, 2017, 05:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

rickbig41
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Where am I looking?


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February 01, 2017, 06:06:28 AM

I believe paper money will eventually go away,
Why would it go away? I think it won't and probably if it will, it would be when all the components use to make paper money is already drained...

but not because its a good thing, but rather because goverments will control every aspect of life...
That's not true, we are living in the world where each country has their own law and not all the people in the world live in a place where the word from its leader is the only rule...

It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.
I don't understand why we need to go anonymous if we are not doing illegal... Besides bitcoin is not totally anonymous....  Smiley

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