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Author Topic: The future of the paper money  (Read 404016 times)
darkangel11
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February 13, 2017, 06:47:05 AM
 #2901

Even credit card and debit card points to the paper money and it is just a way to spend receive paper money. Paper money has been for ages and it is used in the smallest village or town where there is no technology. Getting rid so such a thing and replacing it with a hifi technology like bitcoin is not easy and i will take at least 50 years or maybe more.
Right, technology is the main aspect here. For the paper money to be replaced everyone would need an internet access and hardware to operate on, even a cheap smartphone.
In reality this will take many years to accomplish. Take a look:



In most European countries less than 70% of the population has internet access, in many countries less than 50%. This would have to be at least 90% for the paper money to be removed.

But why would you need internet with your credit card, you might ask. Because a credit card doesn't show you the balance and you need to be able to check it daily without going to town to look for an ATM. Without this you'd never know how much money you have left, like you do when holding cash in your wallet. Also without internet every single worker would need to carry a card reader. A pizza guy, a plumber, they would all have to be able to take card payments - very annoying.

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February 13, 2017, 07:32:11 AM
 #2902

I dont know how long it will take, but sooner or later cash will disappear, maby not in 5 years but they will

I think you are right one day or another, paper money will disappear, but  I don't think this is going to be happening in five or ten years. This is going to be much longer than this timing. At the moment, even for buying bitcoin we need paper money. Maybe you use a credit card or a debit card, but there is a people in the world who has never used them in their whole lives.

Even credit card and debit card points to the paper money and it is just a way to spend receive paper money. Paper money has been for ages and it is used in the smallest village or town where there is no technology. Getting rid so such a thing and replacing it with a hifi technology like bitcoin is not easy and i will take at least 50 years or maybe more.

Yes, I also think that cryptocurrency in the coming years will not be able to replace paper money. But cryptocurrency can be a good alternative. It seems to me that in a few years the dollar and Bitcoin will be used together

It should be. It is more convenient for us and more people will be seeing it. We know that USD is very much accepted spevially in poor countries. If the two can be combined then a big change will happen for both bitcoin value and USD. Just have to be careful with the illegal transactions though.

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February 13, 2017, 09:01:21 AM
 #2903

I dont know how long it will take, but sooner or later cash will disappear, maby not in 5 years but they will

I think you are right one day or another, paper money will disappear, but  I don't think this is going to be happening in five or ten years. This is going to be much longer than this timing. At the moment, even for buying bitcoin we need paper money. Maybe you use a credit card or a debit card, but there is a people in the world who has never used them in their whole lives.

Even credit card and debit card points to the paper money and it is just a way to spend receive paper money. Paper money has been for ages and it is used in the smallest village or town where there is no technology. Getting rid so such a thing and replacing it with a hifi technology like bitcoin is not easy and i will take at least 50 years or maybe more.

Yes, I also think that cryptocurrency in the coming years will not be able to replace paper money. But cryptocurrency can be a good alternative. It seems to me that in a few years the dollar and Bitcoin will be used together

It should be. It is more convenient for us and more people will be seeing it. We know that USD is very much accepted spevially in poor countries. If the two can be combined then a big change will happen for both bitcoin value and USD. Just have to be careful with the illegal transactions though.

yes it is much useful if both paper money and cryptocurrency is mixed. doing so it will be help more percentage of the world to have access to a more easy mode of payment. having those two will make our world more productive and more easy to live.

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February 13, 2017, 09:17:22 AM
 #2904

It should be. It is more convenient for us and more people will be seeing it. We know that USD is very much accepted spevially in poor countries. If the two can be combined then a big change will happen for both bitcoin value and USD. Just have to be careful with the illegal transactions though.

For USD paper bills to be acceptable worldwide they need to be save from counterfeits (the "funny money") and exactly there digital signatures are reaching new frontiers

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February 13, 2017, 09:42:20 AM
 #2905

It should be. It is more convenient for us and more people will be seeing it. We know that USD is very much accepted spevially in poor countries. If the two can be combined then a big change will happen for both bitcoin value and USD. Just have to be careful with the illegal transactions though.

For USD paper bills to be acceptable worldwide they need to be save from counterfeits (the "funny money") and exactly there digital signatures are reaching new frontiers

i think usd is now acceptable worldwide. the counterfeits can be easily classified as there are scanners of usd everywhere and can be bought somewhere. there are specialized characters or signatures that is indicated to the bill that makes it unique so it is more easy to classify the counterfeited money.

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February 13, 2017, 09:47:47 AM
 #2906

As for me, then paper money do not bother me. Even as it is convenient and fun to use them. I would leave their work and cooperate with bitcoin.
we can't deny the importance of fait money..... i think it has its own importance and bitcoin has its own.... you can't use bitcoin without exchanging into paper money...........

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February 13, 2017, 10:36:03 AM
 #2907

we are already entering the future of the monetary system we have already seen many xontrys are really started taking action on it. india, america , europe , london , switzerland and many more no matter what strict them buts its a massive improvment since last 15years
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February 13, 2017, 10:43:40 AM
 #2908

I dont know how long it will take, but sooner or later cash will disappear, maby not in 5 years but they will

I think you are right one day or another, paper money will disappear, but  I don't think this is going to be happening in five or ten years. This is going to be much longer than this timing. At the moment, even for buying bitcoin we need paper money. Maybe you use a credit card or a debit card, but there is a people in the world who has never used them in their whole lives.

Even credit card and debit card points to the paper money and it is just a way to spend receive paper money. Paper money has been for ages and it is used in the smallest village or town where there is no technology. Getting rid so such a thing and replacing it with a hifi technology like bitcoin is not easy and i will take at least 50 years or maybe more.

Yes, I also think that cryptocurrency in the coming years will not be able to replace paper money. But cryptocurrency can be a good alternative. It seems to me that in a few years the dollar and Bitcoin will be used together

If you dont read the news, countries are beginning to leave behind cash and they are moving towards a cashless society. When we say cashless society it means that the government will use digital currency to replace the paper money. Thus in the coming future fiat digital currency will be the new face of fiat currency as it gives birth to a cashless society.

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February 13, 2017, 11:12:12 AM
 #2909

As for me, then paper money do not bother me. Even as it is convenient and fun to use them. I would leave their work and cooperate with bitcoin.
we can't deny the importance of fait money..... i think it has its own importance and bitcoin has its own.... you can't use bitcoin without exchanging into paper money...........
That's the thing that must be prepared, because without exchanger then bitcoin can not be accepted directly. the existence of the idea bitcoin bank I think is a good thing so make bitcoin can be used for direct transactions via ATM.
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February 13, 2017, 05:18:14 PM
 #2910

I personally pay more and will pay utility bills using real money. Even the salary I get it in hard cash and I think that this trend is still quite long.
but in my country today most companies are already using payroll systems with the help of banks. not the cash anymore. so all expenses can be monitored. This is a sign that paper money has started at left
i think these companies may do not know about bitcoin. because bitcoin is too good as if we compare to paypal. i think the service of papal is also not available everywhere. while the service of bitcoin is available every were . the fees of bitcoin is also very low as compare to the transaction fee of bitcoin.
Just imagine that you are an ordinary, average worker at a company, and not a bitcoin user on this forum Smiley
If your company offers you tomorrow, that you can get your salary in bitcoin, or you can get it in real money, would you choose bitcoin?
Imagine, that you know bitcoin, or you have heard about it before, so you know both options. (Most of average workers don't)
Are there enough shops, pump stations, etc. to be able to live your everyday life with bitcoin in your wallet?
This is where we need to improve. Or, to improve the existing bitcoin funded debit cards, because this can help people use bitcoin in shops where they can use their normal VISA or other card. And in this case the shop won't notice that you have payed with a bitcoin card or with a normal VISA card.

If I accept to be paid in bitcoins, what is the gain for me ? If I just get the same amount of value, I don't see the point.

I'm paid in Euro today, if my boss offers to pay me the same value but in dollars, what would I gain ? Nothing.

Now if my boss offers to pay me a bit more but in BTC, then we're talking. But there should be a good reason for that. The most likely reason would be that my company is trying to avoid taxes or things like that, so they would be doing something illegal and offering me to participate. I wouldn't accept in this case.

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February 13, 2017, 09:49:01 PM
 #2911

I personally pay more and will pay utility bills using real money. Even the salary I get it in hard cash and I think that this trend is still quite long.
but in my country today most companies are already using payroll systems with the help of banks. not the cash anymore. so all expenses can be monitored. This is a sign that paper money has started at left
i think these companies may do not know about bitcoin. because bitcoin is too good as if we compare to paypal. i think the service of papal is also not available everywhere. while the service of bitcoin is available every were . the fees of bitcoin is also very low as compare to the transaction fee of bitcoin.
Just imagine that you are an ordinary, average worker at a company, and not a bitcoin user on this forum Smiley
If your company offers you tomorrow, that you can get your salary in bitcoin, or you can get it in real money, would you choose bitcoin?
Imagine, that you know bitcoin, or you have heard about it before, so you know both options. (Most of average workers don't)
Are there enough shops, pump stations, etc. to be able to live your everyday life with bitcoin in your wallet?
This is where we need to improve. Or, to improve the existing bitcoin funded debit cards, because this can help people use bitcoin in shops where they can use their normal VISA or other card. And in this case the shop won't notice that you have payed with a bitcoin card or with a normal VISA card.

If I accept to be paid in bitcoins, what is the gain for me ? If I just get the same amount of value, I don't see the point.

I'm paid in Euro today, if my boss offers to pay me the same value but in dollars, what would I gain ? Nothing.

Now if my boss offers to pay me a bit more but in BTC, then we're talking. But there should be a good reason for that. The most likely reason would be that my company is trying to avoid taxes or things like that, so they would be doing something illegal and offering me to participate. I wouldn't accept in this case.

Maybe the reason is more simple like your company is trying to adopt new technologies, and not because of taxes or anything illegal.
Gain can be that cashless purchases are more convinient and easy compared to cash (and girls at the cash desk will like you more because they don't need to mess with the change Smiley )
Today, paper money is accepted nearly everywhere . Debit and credit cards are also accepted in the majority of the settlements. If you want to use the electronic wallets of the new fintech companies (using the national currency), you need to search for shops in the capitals mainly. If you want to use bitcoin, you'll have even less possibilities in an average country.
The change from the paper money to a cashless economy (and to the widely accepted bitcoin) is hard. Maybe the new smartphone generation won't care about the paper money and will turn to the mobile solutions.
In my country, most of the people now start to recognize the advantages of the PayPass debit cards. It's a step towards to a cashless economy. Next step would be tapping their phones to the POS terminals and not their Paypass cards, but that needs time, years. There's no widespread solution for paying with mobiles yet, Apple, Samsung, and other companies are working on it, but it's not ready.

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February 13, 2017, 09:54:47 PM
 #2912

we are already entering the future of the monetary system we have already seen many xontrys are really started taking action on it. india, america , europe , london , switzerland and many more no matter what strict them buts its a massive improvment since last 15years

Digital payments will go into the scene for the next couple of years and I know that there are already countries / companies that are making use of this technology. If you know the microchip system, many are amazed on it. You can simply buy by simply scanning your hands and boom, you already paid out your groceries, this is implemented in some parts of US already.

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February 13, 2017, 09:59:30 PM
 #2913

50 years ago currencies such as dollar were the same as it is today, if you worked 8 hours a day and could buy a house after 1 year you can now work 8 hours a day and buy a house after one year but since there are many new things that people need or want and they are growing in numbers as new technologies come to light it is often more difficult than before to have enough money.
50 years ago your kids didn't want ipad, iphone, tablet, then you only needed to buy them a atari and that was it.

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aardvark15
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February 14, 2017, 12:09:07 AM
 #2914

I can see paper money being replaced by a digital currency, but I think governments will just use their current currencies in digital form. We already transfer money digitally through credit cards, etc. Bitcoin can still exist and could even be used behind the scenes for money transfer.

NEWGOODOUBLE
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February 14, 2017, 12:33:00 AM
 #2915

I can see paper money being replaced by a digital currency, but I think governments will just use their current currencies in digital form. We already transfer money digitally through credit cards, etc. Bitcoin can still exist and could even be used behind the scenes for money transfer.
I think even if paper money is replaced with something more sophisticated, such as digital money, but of course the government will have to replace it with their own product. I'm sure they will make digital currency products
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February 14, 2017, 03:10:53 AM
 #2916

I can see paper money being replaced by a digital currency, but I think governments will just use their current currencies in digital form. We already transfer money digitally through credit cards, etc. Bitcoin can still exist and could even be used behind the scenes for money transfer.
I think even if paper money is replaced with something more sophisticated, such as digital money, but of course the government will have to replace it with their own product. I'm sure they will make digital currency products
That' for sure, government wants to take control of their world and there product should be patronize by the people. Bitcoin can only be added as another option to transact faster online and it could be an investment that could give us a good fortune if we will risk our investment as this early.

For me, paper money gives convenience to people who does not know how to operate the internet, we cannot take their freedom to transact.

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gandame
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February 14, 2017, 03:38:22 AM
 #2917

I can view that paper money's future is much better compared to present situation today because, there will be more electronics transaction of fiat money currency and less paper money will be produced and mostly were online accounts transactions. Paper money will still be used with offline payments in the future,and together with digital currency, paper money source could be linked to bitcoin earnings and exchange.

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February 14, 2017, 03:40:27 AM
 #2918

I can see paper money being replaced by a digital currency, but I think governments will just use their current currencies in digital form. We already transfer money digitally through credit cards, etc. Bitcoin can still exist and could even be used behind the scenes for money transfer.
The probability to be happen is big. If paper money is no longer used, then I am sure the government will create a currency that they can control. but I prefer to use a currency that can not be created at will, the currency that was obtained from the mine was better.


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Viscore
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February 14, 2017, 05:02:36 AM
 #2919

I can see paper money being replaced by a digital currency, but I think governments will just use their current currencies in digital form. We already transfer money digitally through credit cards, etc. Bitcoin can still exist and could even be used behind the scenes for money transfer.
The probability to be happen is big. If paper money is no longer used, then I am sure the government will create a currency that they can control. but I prefer to use a currency that can not be created at will, the currency that was obtained from the mine was better.
I am very positive with the digital currencies but I don't really think that paper money will be eliminated in the circulation. The government has to serve all the people who has the capacity to transact and the right to live. Seeing that, bitcoin would not always be a good idea as it only caters online transactions, it could be easy for us but more complicated on average people.

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deisik
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February 14, 2017, 11:07:55 AM
 #2920

I personally pay more and will pay utility bills using real money. Even the salary I get it in hard cash and I think that this trend is still quite long.
but in my country today most companies are already using payroll systems with the help of banks. not the cash anymore. so all expenses can be monitored. This is a sign that paper money has started at left
i think these companies may do not know about bitcoin. because bitcoin is too good as if we compare to paypal. i think the service of papal is also not available everywhere. while the service of bitcoin is available every were . the fees of bitcoin is also very low as compare to the transaction fee of bitcoin.
Just imagine that you are an ordinary, average worker at a company, and not a bitcoin user on this forum Smiley
If your company offers you tomorrow, that you can get your salary in bitcoin, or you can get it in real money, would you choose bitcoin?
Imagine, that you know bitcoin, or you have heard about it before, so you know both options. (Most of average workers don't)
Are there enough shops, pump stations, etc. to be able to live your everyday life with bitcoin in your wallet?
This is where we need to improve. Or, to improve the existing bitcoin funded debit cards, because this can help people use bitcoin in shops where they can use their normal VISA or other card. And in this case the shop won't notice that you have payed with a bitcoin card or with a normal VISA card.

If I accept to be paid in bitcoins, what is the gain for me ? If I just get the same amount of value, I don't see the point.

I'm paid in Euro today, if my boss offers to pay me the same value but in dollars, what would I gain ? Nothing.

Now if my boss offers to pay me a bit more but in BTC, then we're talking. But there should be a good reason for that. The most likely reason would be that my company is trying to avoid taxes or things like that, so they would be doing something illegal and offering me to participate. I wouldn't accept in this case

If you happen to just spend all your wages without a trace, then it doesn't really make any sense since you most likely won't be able to spend bitcoins directly and will have to convert them first to fiat losing on commissions. Nevertheless, if you have a few jobs or just get more than enough money to provide your and your family sustenance, then you will be certainly considering different investing options to make your money work for you (or at least, preserve its value)

And in that case receiving payment in Bitcoin (some part thereof) might make sense

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