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Author Topic: The future of the paper money  (Read 414967 times)
btvlGainer
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March 01, 2017, 09:19:53 AM
 #3001

in 2009 bitcoin be made followed by altcoin and is now a successful crypto currency and many who are interested with virtual currency such as bitcoin, in my opinion someday the paper money will fade
Majority of people who came in the crypto does not really know that there are altcoins, bitcoin is the most popular and in the crypto world and will continue to be the most dominant crypto currencies. Because of the continuing increase of price, some altcoins had slightly losses their value because investors focus their funds on bitcoin. Now, talking about paper money I think this will stay as long as all people will not adopt into digital currencies.

As long as there are active developments of the bitcoin , it will prosper long term.

Yes, you are right, paper money will long live. There are many countries where people do not use plastic cards. Basically this situation in poor countries. About Bitcoin there do not know
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March 01, 2017, 09:34:10 AM
 #3002

 I don't think that bitcoin paper money has any future .I have already mentioned this in my few earlier posts.

People slowly new have started to recognize the power of Internet and how useful it would be.
Here crypto currencies would act as a catalyst for this process .
This is because loosing online money to some thief or fraud organization would be difficult as easy it is now for cash.
I would also have a great impact on nature which very less people think off.
I.E - tonnes of wood that is wasted in making paper currency would be minimised.
This implies less cutting of trees so indirectly or directly the environment is also saved.
Also another reason why online transactions will be successful is that it would save the cost of labour which is utilised in making paper notes at factories.
Hence I think that future of paper money is very less.

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March 01, 2017, 10:46:21 AM
 #3003

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think the future really will make paper money dies or no longer used. now even been seen that digital money is already starting to master in any transaction.

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March 01, 2017, 01:28:10 PM
 #3004

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think the future really will make paper money dies or no longer used. now even been seen that digital money is already starting to master in any transaction.
Yes indeed now digital money is already widely used for transactions but I think it will not make paper money is gone / dead. Digital money that is widely used now only as an alternative payment and it does not decrease interest in the use paper money. Paper money will always be there and circulate because there will always be used for direct transactions, until now the demand paper money is still high. For the next 10 years paper money is still will always be used.


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March 01, 2017, 01:50:31 PM
 #3005

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think the future really will make paper money dies or no longer used. now even been seen that digital money is already starting to master in any transaction.
Yes indeed now digital money is already widely used for transactions but I think it will not make paper money is gone / dead. Digital money that is widely used now only as an alternative payment and it does not decrease interest in the use paper money. Paper money will always be there and circulate because there will always be used for direct transactions, until now the demand paper money is still high. For the next 10 years paper money is still will always be used.
It's better to always be conservative with our prediction, this world does not only run for selected people. We have a big population that composes of different status in life, digital money is very effective to those who need and wants to use it. But look outside the box, you will see that in the other side, majority of the population are still not into technology when it comes to online transaction and they will remain dependent on transacting using paper money.



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March 01, 2017, 02:01:26 PM
 #3006

Like many people already said is that the paper money future is not so good because it has the digital word against.
Everything these days will get digital the world is really changing.
I think the future really will make paper money dies or no longer used. now even been seen that digital money is already starting to master in any transaction.
Yes indeed now digital money is already widely used for transactions but I think it will not make paper money is gone / dead. Digital money that is widely used now only as an alternative payment and it does not decrease interest in the use paper money. Paper money will always be there and circulate because there will always be used for direct transactions, until now the demand paper money is still high. For the next 10 years paper money is still will always be used.
It's better to always be conservative with our prediction, this world does not only run for selected people. We have a big population that composes of different status in life, digital money is very effective to those who need and wants to use it. But look outside the box, you will see that in the other side, majority of the population are still not into technology when it comes to online transaction and they will remain dependent on transacting using paper money

Yeah, better safe than sorry

It is interesting when (or whether at all) people will ever start using digital money (Bitcoin, electronic fiat, or whatever) en masse in the future. On the one hand, some folks have difficult times coping with computers as such (e.g. sending emails, using social networks and similar things), but these are mostly from older generations (most likely, they just don't want to learn anything new). On the other hand, just a couple centuries ago most people were completely illiterate and couldn't even read, so there is hope

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March 01, 2017, 06:11:48 PM
 #3007

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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March 02, 2017, 06:03:01 AM
 #3008

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.  Smiley

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March 02, 2017, 10:04:24 AM
 #3009

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.
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March 02, 2017, 11:55:07 AM
 #3010

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.

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March 02, 2017, 12:15:17 PM
 #3011

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

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deisik
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March 02, 2017, 07:29:01 PM
 #3012

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.  Smiley

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
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March 02, 2017, 07:35:14 PM
 #3013

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.  Smiley

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
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March 02, 2017, 09:48:28 PM
 #3014

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.  Smiley

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
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March 03, 2017, 02:43:47 AM
 #3015

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.
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March 03, 2017, 02:57:35 AM
 #3016

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.


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wanderffa
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March 03, 2017, 03:48:30 AM
 #3017

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.
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March 03, 2017, 04:08:29 AM
 #3018

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.


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Ziskinberg
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March 03, 2017, 04:31:51 AM
 #3019

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.


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buharikx31
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March 03, 2017, 09:20:26 AM
 #3020

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   

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