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Author Topic: The future of the paper money  (Read 403626 times)
Grdas130979
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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.

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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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February 01, 2017, 06:13:10 AM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil and greedy eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake

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February 01, 2017, 06:50:32 AM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake
It's more on the privacy that we like to achieve than hiding our dirty activities. Only few doing illegal activities but fore sure, we all want to have privacy which banks cannot give to us since they have our records and there's a risk they might make it public to some people with interest.

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rickbig41
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February 01, 2017, 06:54:36 AM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake

Why? Who are those evil eyes that are watching your transaction? The government? or is there a mafia where we owe money?

Basically, when we do a transaction with cash/fiat no one knows it unless you publicly pronounce it that you are paying the other person... I don't see any problem with using cash when it comes to anonymity, besides we could send someone else to hand over the money...

But you have a point there, Some people wants privacy when it comes to their transactions, except if you are a public figure that all your ins and outs are being scrutinized, and the use of bitcoin may not be good for you...  Cheesy


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February 01, 2017, 09:39:55 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.
I think otherwise, there is the role of the State will always protect the paper money. Although later usage of digital money more and more but can never eliminate paper money. take a look at it now, there are still many countries documents printed on paper even though there is already a hard disk.
loreykyutt05
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February 01, 2017, 10:12:08 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.
I think otherwise, there is the role of the State will always protect the paper money. Although later usage of digital money more and more but can never eliminate paper money. take a look at it now, there are still many countries documents printed on paper even though there is already a hard disk.

If United States still continue on doing paper money, we all know that we cannot use bitcoins, because US dollars is one of the most currency used all over the world. If paper money of United States will be demonetized, we can use bitcoins or other digital/virtual money in our daily lives. We can still use the paper money, but if United States starts it, we should follow them to have a new technology.

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February 01, 2017, 10:39:06 AM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake

Why? Who are those evil eyes that are watching your transaction? The government? or is there a mafia where we owe money?

Basically, when we do a transaction with cash/fiat no one knows it unless you publicly pronounce it that you are paying the other person... I don't see any problem with using cash when it comes to anonymity, besides we could send someone else to hand over the money

You just don't know (no offense intended)

And this is not your fault, and you should be happy that you never encountered a situation when a bank staff had been selling personal info of their clients. This was a real case which happened in the bank that I'm using myself, and it was not a one-shot event. If they were selling this info, someone was evidently buying it, i.e. paying real money for it, right? But what the fuck did they need it for? I'm not going to pour empty verbiage, but any wealthy person will tell absolutely the same thing



Namely, that money loves silence while big money loves grave silence

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February 01, 2017, 12:01:26 PM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake

Why? Who are those evil eyes that are watching your transaction? The government? or is there a mafia where we owe money?

Basically, when we do a transaction with cash/fiat no one knows it unless you publicly pronounce it that you are paying the other person... I don't see any problem with using cash when it comes to anonymity, besides we could send someone else to hand over the money

You just don't know (no offense intended)

And this is not your fault, and you should be happy that you never encountered a situation when a bank staff had been selling personal info of their clients. This was a real case which happened in the bank that I'm using myself, and it was not a one-shot event. If they were selling this info, someone was evidently buying it, i.e. paying real money for it, right? But what the fuck did they need it for? I'm not going to pour empty verbiage, but any wealthy person will tell absolutely the same thing



Namely, that money loves silence while big money loves grave silence

No doubt about that. I've seen such, but never experienced it personally. I am also wondering where are they using it.  Probably those bank personnel who sell this names (I haven't and bank accounts are earning from it, if they does, then that's a crime already). Probably selling it to call centers as "leads" for them to call and offer products ( sometimes annoying ). But I am sure big time bankers know their thing, and probably keeping their bank accounts safe and naming it not with their real names (dummy accounts ) and and making many of it probably some international.  Smiley

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February 01, 2017, 12:13:12 PM

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...

That point is really debatable. If you are doing nothing illegal, it doesn't mean that everyone is doing nothing illegal either. So going anonymous may be justifiable if you just don't want evil eyes to see what you are doing and in which amounts exactly. Basically, the less people know what you are involved in the better, even if you have nothing to hide (unless you are specifically going public, of course)...

To think bad of people is a sin but rarely a mistake

Why? Who are those evil eyes that are watching your transaction? The government? or is there a mafia where we owe money?

Basically, when we do a transaction with cash/fiat no one knows it unless you publicly pronounce it that you are paying the other person... I don't see any problem with using cash when it comes to anonymity, besides we could send someone else to hand over the money

You just don't know (no offense intended)

And this is not your fault, and you should be happy that you never encountered a situation when a bank staff had been selling personal info of their clients. This was a real case which happened in the bank that I'm using myself, and it was not a one-shot event. If they were selling this info, someone was evidently buying it, i.e. paying real money for it, right? But what the fuck did they need it for? I'm not going to pour empty verbiage, but any wealthy person will tell absolutely the same thing



Namely, that money loves silence while big money loves grave silence

In that case, I think it's time to really go back to keeping money under the pillow than putting it in banks knowing that your identity and your money is compromised...  I have no experience on such thing as bank account numbers being sold... I only encountered ISP( internet ) accounts being sold in the gray market and being used by fncked up by different people...

Anyway, I wonder if there are still people who put their moneys in safety deposit boxes and never put it in their debit cards? I think that's safer, you have your paper money in the vault...  Cheesy

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February 01, 2017, 02:17:32 PM


In that case, I think it's time to really go back to keeping money under the pillow than putting it in banks knowing that your identity and your money is compromised...  I have no experience on such thing as bank account numbers being sold... I only encountered ISP( internet ) accounts being sold in the gray market and being used by fncked up by different people...

Anyway, I wonder if there are still people who put their moneys in safety deposit boxes and never put it in their debit cards? I think that's safer, you have your paper money in the vault...  Cheesy

Sorry I deleted the other one who have been quoted by rick. It is too big specially the image.
So that is how we should use effed up "fncked up" nice trick.  Grin

How about the time deposits?
Paper money in a vault.  Cheesy What if suddenly they change the way paper money look like and the owner of the safety deposit died. How will the children of him will get something from a money that have a different image in the money. Damn! I am imagining things so far. Better stop.  Grin

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February 01, 2017, 03:12:19 PM

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.
I think otherwise, there is the role of the State will always protect the paper money. Although later usage of digital money more and more but can never eliminate paper money. take a look at it now, there are still many countries documents printed on paper even though there is already a hard disk.
It is right that the use of digital money cannot eliminate paper money but it will definitely eliminate the use of paper money. There will be paper money available and governments will print it but it will not be used as much as are now. Just the use of Credit cards people have their money in paper and governments are printing paper money and banks are favoring paper money but still banks and people like to use their cards their digital means of payment.

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February 01, 2017, 03:21:38 PM

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
I just come to know about bitcoin printed on paper (bitnotes), thanks deisik. It is such a great idea and good looking/attractive display.
Look at http://www.bitnotes.org/
Consider the advantages offered :
- instant payment without waiting for confirmation time
- offline payment even if there's no any internet connection
But it has some disadvantages of course as they had mentioned :
Apparently, a Bitcoin banknote cannot maintain trustless qualities, yet the whole concept can remain distributed and offer an added value compared to traditional cash.
Imagine physical cash which cannot be devalued or depreciated and the backing of which can be proven any time; cash which keeps its value over time similarly to gold; a bitcoin derivative which can be securely stored in a physical form, offline.

About paper money, I guess it will still exists for another 20-50 years later. As time goes on and anything will change, even money will going towards fully digital imo, but not in the nearly future obviously.



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February 01, 2017, 03:31:29 PM

Namely, that money loves silence while big money loves grave silence

In that case, I think it's time to really go back to keeping money under the pillow than putting it in banks knowing that your identity and your money is compromised...  I have no experience on such thing as bank account numbers being sold... I only encountered ISP( internet ) accounts being sold in the gray market and being used by fncked up by different people...

Anyway, I wonder if there are still people who put their moneys in safety deposit boxes and never put it in their debit cards? I think that's safer, you have your paper money in the vault...  Cheesy

Honestly, I don't quite understand your question

Really, if you have literally millions of dollars (or anything worth millions of dollars), why on Earth would you want to put that much on you debit card? What's the sense of doing that? In this manner, there is no real contradiction (if that was your intention as I got your point) between saving hefty amounts of paper money (or, say, gold) in a deposit box in a bank and putting only dust (in relative terms, of course) in your card account in that bank. In any case, the bank has access to both your account and deposit box, so from the bank's point of view (but not yours), it is basically six of one and half a dozen of the other. But then again, why would you want to pour millions to your debit card in the first place, to attract thieves like shit attracts flies and honey bees?

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February 01, 2017, 08:33:20 PM

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.
I think otherwise, there is the role of the State will always protect the paper money. Although later usage of digital money more and more but can never eliminate paper money. take a look at it now, there are still many countries documents printed on paper even though there is already a hard disk.

If United States still continue on doing paper money, we all know that we cannot use bitcoins, because US dollars is one of the most currency used all over the world. If paper money of United States will be demonetized, we can use bitcoins or other digital/virtual money in our daily lives. We can still use the paper money, but if United States starts it, we should follow them to have a new technology.
USD is a fiat currency, while bitcoin is digital currency, there is not match between two. people are using USD because they do not have any other currency to use instead of USD. but now bitcoin is becoming more and more popular and hope that very soon bitcoin will be start using as currency in all over the world.
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February 02, 2017, 12:04:00 AM

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?

I think the trend of using paper money has been slightly reduced because people often use digital money via credit card .As well as Bitcoin is one form of money cryptocurrency are often used because it is easier to be transferred in a broad scope but the government has not been able to stop producing paper money.
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February 02, 2017, 12:49:16 AM

The future of paper money is better than currencies because it is free from cheating and it can be stay for a long time of interval.

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February 02, 2017, 01:05:43 AM

The future of paper money is better than currencies because it is free from cheating and it can be stay for a long time of interval.
This post has zero sense. You shouldn't post useless random words like these.

I think the trend of using paper money has been slightly reduced because people often use digital money via credit card .As well as Bitcoin is one form of money cryptocurrency are often used because it is easier to be transferred in a broad scope but the government has not been able to stop producing paper money.
Bitcoin isn't so significant phenomena yet, that paper money has nothing to worry about from its side.
Government won't stop producing money because quantitative easing is main source of its power.
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February 02, 2017, 03:20:36 AM

Namely, that money loves silence while big money loves grave silence

In that case, I think it's time to really go back to keeping money under the pillow than putting it in banks knowing that your identity and your money is compromised...  I have no experience on such thing as bank account numbers being sold... I only encountered ISP( internet ) accounts being sold in the gray market and being used by fncked up by different people...

Anyway, I wonder if there are still people who put their moneys in safety deposit boxes and never put it in their debit cards? I think that's safer, you have your paper money in the vault...  Cheesy

Honestly, I don't quite understand your question

Really, if you have literally millions of dollars (or anything worth millions of dollars), why on Earth would you want to put that much on you debit card? What's the sense of doing that? In this manner, there is no real contradiction (if that was your intention as I got your point) between saving hefty amounts of paper money (or, say, gold) in a deposit box in a bank and putting only dust (in relative terms, of course) in your card account in that bank. In any case, the bank has access to both your account and deposit box, so from the bank's point of view (but not yours), it is basically six of one and half a dozen of the other. But then again, why would you want to pour millions to your debit card in the first place, to attract thieves like shit attracts flies and honey bees?

more precisely if we keep the money in the bank means we deposit the money, definitely not only you yourself knows about money, there are others who know your money, I think it has become a business, we leave something valuable in the bank or debit and they offer security over the valuables you have, as I said this is a business I think already paper money will remain despite its use on a large scale would be less , because not everyone will deposit something valuable of hers to others. paper money will continue to be used but less, and digital money will be more grown up. times will indeed give you many options.

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February 02, 2017, 04:05:36 AM

Namely, that money loves silence while big money loves grave silence

In that case, I think it's time to really go back to keeping money under the pillow than putting it in banks knowing that your identity and your money is compromised...  I have no experience on such thing as bank account numbers being sold... I only encountered ISP( internet ) accounts being sold in the gray market and being used by fncked up by different people...

Anyway, I wonder if there are still people who put their moneys in safety deposit boxes and never put it in their debit cards? I think that's safer, you have your paper money in the vault...  Cheesy

Honestly, I don't quite understand your question

Really, if you have literally millions of dollars (or anything worth millions of dollars), why on Earth would you want to put that much on you debit card? What's the sense of doing that? In this manner, there is no real contradiction (if that was your intention as I got your point) between saving hefty amounts of paper money (or, say, gold) in a deposit box in a bank and putting only dust (in relative terms, of course) in your card account in that bank. In any case, the bank has access to both your account and deposit box, so from the bank's point of view (but not yours), it is basically six of one and half a dozen of the other. But then again, why would you want to pour millions to your debit card in the first place, to attract thieves like shit attracts flies and honey bees?

more precisely if we keep the money in the bank means we deposit the money, definitely not only you yourself knows about money, there are others who know your money, I think it has become a business, we leave something valuable in the bank or debit and they offer security over the valuables you have, as I said this is a business I think already paper money will remain despite its use on a large scale would be less , because not everyone will deposit something valuable of hers to others. paper money will continue to be used but less, and digital money will be more grown up. times will indeed give you many options.
If you are concern with the privacy, I guess we cannot have that if bitcoin are still dependent on fiat with its value. The fact that we will cash out in our respective exchange sites, the government already knows that and they will require the exchange sites to act as a bank and follow the KYC policy. With everyone complying with the KYC policy, the government can now then take our information if they will demand for it.

The risk with trusting our personal info with exchange site is similar with banks, they can divulge it without our knowing.

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