The future of the paper money

[Rude Boy]

Politicians never throw the paper currencies. Because if they stop paper currency and force peoples to use digital currency, the politicians will caught by corruptions. Paper currency don't even need to have bank  accounts. But, in Digital currency each and every transaction will be stored.

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[diegz]

Politicians never throw the paper currencies. Because if they stop paper currency and force peoples to use digital currency, the politicians will caught by corruptions. Paper currency don't even need to have bank  accounts. But, in Digital currency each and every transaction will be stored.

Isn't it the other way around? Politicians will be bribed easily as they could just talk and the bitcoin address will be given and sent, then voila!! bribery at its finest.

Though each transaction is recorded, we can't name names on who is the owner of such address, that would look like a mere heresy. While in paper money, they can be caught, we could even use marked money to set them up. 

[TravisNeko]

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 don't think that they will ban paper money entirely because to much people are using it, and some of them cash everything they have because they don't trust banks.
I personally don't think that it would work and I can't think of a day that paper money will be entirely banned.

[bitbunnny]

There is no way for paper money to disappear completely.  Although we are heading towards paperless and digital era paper money will stay in some amount and people will still use it but soon probably there will be situation that majority of people would use credit cards and with time digital currencies also.

[Theb]

There is no way for paper money to disappear completely.  Although we are heading towards paperless and digital era paper money will stay in some amount and people will still use it but soon probably there will be situation that majority of people would use credit cards and with time digital currencies also.

I don't think it will happen in the future. Right now paper money might be safer in a vault in a bank compared to some kind of e-currency circulating online around the web, which is vulnerable to hacks and scams. Also for the government's purpose it will be hard for their part to know what people are really earning because all of the transactions are now online which will promote the use of money laundering. Bad Idea

[deisik]

Politicians never throw the paper currencies. Because if they stop paper currency and force peoples to use digital currency, the politicians will caught by corruptions. Paper currency don't even need to have bank  accounts. But, in Digital currency each and every transaction will be stored.

Isn't it the other way around? Politicians will be bribed easily as they could just talk and the bitcoin address will be given and sent, then voila!! bribery at its finest.

Though each transaction is recorded, we can't name names on who is the owner of such address, that would look like a mere heresy. While in paper money, they can be caught, we could even use marked money to set them up. 

The bribees are obviously neither traders not investors

Therefore they are not very interested in Bitcoin as such. In fact, some of them may well be, but they will an exception to the rule. In this way, Bitcoin is of no use to them and while they can be effortlessly and safely bribed through Bitcoin, as soon as they decide to cash out, all their fiat transactions (e.g. from an exchange to their bank account) can be easily traced. Indeed, they could use straw men as well as dummy accounts, but in that case they could just as easily use them for receiving fiat bribes without getting involved with Bitcoin at all

[BillyBobZorton]

Politicians never throw the paper currencies. Because if they stop paper currency and force peoples to use digital currency, the politicians will caught by corruptions. Paper currency don't even need to have bank  accounts. But, in Digital currency each and every transaction will be stored.

Isn't it the other way around? Politicians will be bribed easily as they could just talk and the bitcoin address will be given and sent, then voila!! bribery at its finest.

Though each transaction is recorded, we can't name names on who is the owner of such address, that would look like a mere heresy. While in paper money, they can be caught, we could even use marked money to set them up. 

Politicians should have all of their bitcoin addresses public and controlled, this way they cannot get payments anonymously. Sure, they can use another cryptocoin, but what can we do? There will always be ways to bribe people unfortunately, its not something we can fully control, but we can at least control public money now thanks to bitcoin, but since they are corrupt they will never accept it.

[Fireblazer]

Politicians never throw the paper currencies. Because if they stop paper currency and force peoples to use digital currency, the politicians will caught by corruptions. Paper currency don't even need to have bank  accounts. But, in Digital currency each and every transaction will be stored.

Isn't it the other way around? Politicians will be bribed easily as they could just talk and the bitcoin address will be given and sent, then voila!! bribery at its finest.

Though each transaction is recorded, we can't name names on who is the owner of such address, that would look like a mere heresy. While in paper money, they can be caught, we could even use marked money to set them up. 

Politicians should have all of their bitcoin addresses public and controlled, this way they cannot get payments anonymously. Sure, they can use another cryptocoin, but what can we do? There will always be ways to bribe people unfortunately, its not something we can fully control, but we can at least control public money now thanks to bitcoin, but since they are corrupt they will never accept it.

But if the rich people will look for opportunities to hide their income, they will be to lobby the interests of bitcoin and never make it to cryptocurrency controlled to avoid that control. But the government, in my view, are interested in reverse. Even the corrupt live by the budget, want more revenue from taxes.

[lOvE mE forEvEr]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

[agamasrori]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

[wanderffa]

The currency of the future may be the digital currency, which may not be bitcoin. Governments of every country will not use what they cannot control. But bitcoin can't be replaced by the digital currency.

[X-ray]

The currency of the future may be the digital currency, which may not be bitcoin. Governments of every country will not use what they cannot control. But bitcoin can't be replaced by the digital currency.

I guess, there is no the future of the digital currency. But just implementation of the local currency into the digital form. But bitcoin is a new system in our ecosystem. and it still unfamiliar for a lot of the people in our community. But i guess more bank try to develop his digital asset.

[Ziskinberg]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

If paper money will be replace, I don't think bitcoin will take over. Digital currency could be the trend for the future but it will be replace by the government own, even at this time, we cannot compared bitcoin to paper money because paper money is widely used by a huge number of population if not all.
Bitcoin on the other hand capture only like 1-2% of the total world's population.

[buharikx31]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

If paper money will be replace, I don't think bitcoin will take over. Digital currency could be the trend for the future but it will be replace by the government own, even at this time, we cannot compared bitcoin to paper money because paper money is widely used by a huge number of population if not all.
Bitcoin on the other hand capture only like 1-2% of the total world's population.

Yes, but we are talking about chanhing the paper money to digital currency it's not only bitcoin, it can be any other virtual currency even PayPal can do that roll. But i think the main question in this thread how goverment politics gonna involve that in to any country, I think only Capitalistic countries or countries with a big GDP can afford to make this possible to change paper money to digital. People can do that by them selfs if goverment accept digital systems, inventing simple and incredibly easy transactions   

[gabmen]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

If paper money will be replace, I don't think bitcoin will take over. Digital currency could be the trend for the future but it will be replace by the government own, even at this time, we cannot compared bitcoin to paper money because paper money is widely used by a huge number of population if not all.
Bitcoin on the other hand capture only like 1-2% of the total world's population.

Yes, but we are talking about chanhing the paper money to digital currency it's not only bitcoin, it can be any other virtual currency even PayPal can do that roll. But i think the main question in this thread how goverment politics gonna involve that in to any country, I think only Capitalistic countries or countries with a big GDP can afford to make this possible to change paper money to digital. People can do that by them selfs if goverment accept digital systems, inventing simple and incredibly easy transactions   

Well i think that for as long as there are countries or locations that are still way behind when it comes to technology, paper money will still be relevant. Leta face it, not all coubtries are technologically prepared to go full digital currency so there definitely will still be use for paper money even if the time comes when most people would go digital

[MMA]

The currency of the future may be the digital currency, which may not be bitcoin. Governments of every country will not use what they cannot control. But bitcoin can't be replaced by the digital currency.

yes that is right to say that bitcoin is the future of money is bitcoin, but i think that currency fiat is too much strong. and will continue for a long time. and in far future when the use of bitcoin will increase too much then when people will start giving preference to bitcoin instead of bitcoin then we can say that there is danger to the future of paper money.

[TIDOVEE]

For paper money not to be in existence in any moment of the future is as difficult as making everyone literate.its is actually feasible and also possible over time. 

[markyminer]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

how can you say that. i think the use of the paper money is still too good and too strong. i think more that 99.9% people are depending on fiat an that is the reason that we can say that bitcoin cannot replace fiat, because bitcoin is very young and that is the reason that fiat is the number one currency of the world.

[ivan.daineko23]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

how can you say that. i think the use of the paper money is still too good and too strong. i think more that 99.9% people are depending on fiat an that is the reason that we can say that bitcoin cannot replace fiat, because bitcoin is very young and that is the reason that fiat is the number one currency of the world.

Here I completely agree with you. And I add that most people do not have access to the bitcoin, do not understand and do not know it, and for some, all or bitcoin can even be very heavy. That's for sure. I'm on my parents are watching, they will never use them, and it is only a minimal example.

[DoublerHunter]

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.

I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.

how can you say that. i think the use of the paper money is still too good and too strong. i think more that 99.9% people are depending on fiat an that is the reason that we can say that bitcoin cannot replace fiat, because bitcoin is very young and that is the reason that fiat is the number one currency of the world.

Here I completely agree with you. And I add that most people do not have access to the bitcoin, do not understand and do not know it, and for some, all or bitcoin can even be very heavy. That's for sure. I'm on my parents are watching, they will never use them, and it is only a minimal example.

Your parents can use bitcoin if you will just explain it to them. Try explaining it to them in a very simple way like how you explain other things then i believe that they will fully understand how bitcoin works and they will adopt it as soon as possible you explain it to them. There is no risk in using bitcoin so i think there is nothing to worry about for not adopting bitcoin.