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Author Topic: The future of the paper money  (Read 412994 times)
icecube45
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March 21, 2017, 02:43:10 PM
 #3161

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
I thought decentralization would be prohibited by the government so I would be quite doubtful if bitcoin will replace paper money certainly the government has prepared a substitute for paper money.
currently it look like difficult but i i think as soon as time pass bitcoin is becoming more and more popular and therefore we can hope that in future it may be possible to replace fiat by bitcoin.

We see 10 years again, if a bitcoin can survive then bitcoin will become a candidate world currencies that will be used in many countries. Although very popular, fiat money will continues to survive because of fiat money and paper money is a symbol of the State.
Maybe that you mean as an alternative currency? If true I agree with you, in the future bitcoin will be an alternative currency. But paper money will survive because like you say it is a symbol of the state, or more precisely the identity of a country.

If I see a previous comment that states in future value of paper money will fall it could be yes and no. But not in the way the currency is issued, but because there is a war that causes inflation or hyperinflation or maybe other conditions. But it was only for some time and then restored.
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March 21, 2017, 03:52:41 PM
 #3162

paper money have your days count
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March 21, 2017, 11:42:35 PM
 #3163

paper money have your days count

While I agree with you, it's not because of Bitcoin. Digital fiat is the reason paper currency will go away, as I find digital fiat to be far more versatile and stable than any crypto. Bitcoin might be the best crypto, but all that makes it  is the best version of the least dependable payment option.


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March 22, 2017, 01:48:37 AM
 #3164

The paper money is can't be replaced by bitcoin because bitcoin is digital currency and our society now is not ready for changes or upgrade. Because there are people who doesn't have mobile gadgets so I think fiat is forever.

Yes, now they aren't ready to leave paper money and use bitcoins only for example. But even now more people use credit cards to pay for stuff rather than paper money, so i think that it is just a matter of time before they will start using bitcoin. i'd say in 20 years there will be no more people that use paper money.

There will be a increase in usage of bitcoins and credit card in next 20 years for sure but there will be some poor people who will still continue to use paper money as they would find bitcoin complicated and might not be interested in using it.

I agree with you. There will always be people who use paper money. The standard of living of many countries is not very high. That is why it is too early to say that paper money will soon cease to exist

Yes and paper money will never disappear as it has a support from the Government and people especially the labors who are earning their daily wages in cash will always use paper money to buy anything as that is the only option they have for their spending.
Don't make a mistake governments don't like paper money, since it allows great anonymity, that is why most of the deals where something illegal is involved the participants use cash instead of any other medium of payment.

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March 31, 2017, 08:25:55 PM
 #3165

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
I thought decentralization would be prohibited by the government so I would be quite doubtful if bitcoin will replace paper money certainly the government has prepared a substitute for paper money.
currently it look like difficult but i i think as soon as time pass bitcoin is becoming more and more popular and therefore we can hope that in future it may be possible to replace fiat by bitcoin.

We see 10 years again, if a bitcoin can survive then bitcoin will become a candidate world currencies that will be used in many countries. Although very popular, fiat money will continues to survive because of fiat money and paper money is a symbol of the State.
Maybe that you mean as an alternative currency? If true I agree with you, in the future bitcoin will be an alternative currency. But paper money will survive because like you say it is a symbol of the state, or more precisely the identity of a country.

If I see a previous comment that states in future value of paper money will fall it could be yes and no. But not in the way the currency is issued, but because there is a war that causes inflation or hyperinflation or maybe other conditions. But it was only for some time and then restored.
Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

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March 31, 2017, 09:27:59 PM
 #3166

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
I thought decentralization would be prohibited by the government so I would be quite doubtful if bitcoin will replace paper money certainly the government has prepared a substitute for paper money.
currently it look like difficult but i i think as soon as time pass bitcoin is becoming more and more popular and therefore we can hope that in future it may be possible to replace fiat by bitcoin.

We see 10 years again, if a bitcoin can survive then bitcoin will become a candidate world currencies that will be used in many countries. Although very popular, fiat money will continues to survive because of fiat money and paper money is a symbol of the State.
Maybe that you mean as an alternative currency? If true I agree with you, in the future bitcoin will be an alternative currency. But paper money will survive because like you say it is a symbol of the state, or more precisely the identity of a country.

If I see a previous comment that states in future value of paper money will fall it could be yes and no. But not in the way the currency is issued, but because there is a war that causes inflation or hyperinflation or maybe other conditions. But it was only for some time and then restored.
Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
It seems to me that paper money is beneficial to those who use illegal incomes. Cash is very difficult to control. As soon as politicians stop taking bribes, paper money will cease to exist.



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March 31, 2017, 11:46:57 PM
 #3167

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol

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April 01, 2017, 12:03:50 AM
 #3168

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol

I dont think paper money will be rarely used in the future, there may be a lot of digital currencies emerging but still,  there are problems with these currencies, bitcoin may be a possible currency of the world in the future, but I think it will really really takes time before it take over the paper money. Bitcoin has a good way to transact and it is really efficient for everyone, paying bills fast.

There are a lot of possibilities that will come and I think bitcoin will stay the way use it for a long time.

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April 01, 2017, 12:20:46 AM
 #3169

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.

Bitcoins are only an electronic currency created by people and not regulated by anyone. If people stop using bitcoin, then it will simply disappear.
so does paper money. If paper money is not used by anyone else it means the government must evaluate that they need a digital currency that is more sophisticated than paper mone

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April 01, 2017, 03:46:12 AM
 #3170

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.

Bitcoins are only an electronic currency created by people and not regulated by anyone. If people stop using bitcoin, then it will simply disappear.
so does paper money. If paper money is not used by anyone else it means the government must evaluate that they need a digital currency that is more sophisticated than paper mone

The withdrawal of paper money has been initiated already. Many people has already shifted to digital form of transaction. Though I believe it won't be possible that paper money disappears completely 100%, but usage will be greatly reduced.

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April 01, 2017, 08:28:29 AM
 #3171

paper money have your days count

While I agree with you, it's not because of Bitcoin. Digital fiat is the reason paper currency will go away, as I find digital fiat to be far more versatile and stable than any crypto. Bitcoin might be the best crypto, but all that makes it  is the best version of the least dependable payment option.

The society is now turning into a digital society. This does not only happens on business transactions and any related activities but also to our current paper money which is seen to be replace into a digital currency in the future. It is not clear if bitcoin will be that currency or it will be another version of the fiat currency that will evolved into digital cash.

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April 01, 2017, 08:58:51 AM
 #3172

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.
yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol

I can see that the future of paper money seems to fall too but it doesn't mean it will make the economy of a country fall too. It will only make a difference on what we use to see, government bodies will certainly make the same thing as crypto currency or should I say a digital money and it's going to happen in the future.

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April 01, 2017, 10:44:02 AM
 #3173

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.














 

 

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April 01, 2017, 10:58:01 AM
 #3174

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.
Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

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April 01, 2017, 12:01:23 PM
 #3175

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?

Paper money will be banned entirely?
 Yes, it is possible to be happen once the one world currency appear in this world.

How long do you think that happens?
that's the question we  do not know when will it be happen, it maybe if all nations will adopt bitcoin.

would it work?
I think so Wink





                                 
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April 01, 2017, 12:08:16 PM
 #3176

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?

Paper money will be banned entirely?
 Yes, it is possible to be happen once the one world currency appear in this world.

How long do you think that happens?
that's the question we  do not know when will it be happen, it maybe if all nations will adopt bitcoin.

would it work?
I think so Wink

I don't think so. Paper money can't be banned entirely as not all people will have access to alternatives such as digital and cryptocurrencies. If you look at how most people do transactions today, most in general are still dependent on paper money exchange and I think this trend will have a very long existence. We also can't have only one currency as there are too many different culture and practices in this world that would not adopt a single currency that benefits a few countries






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April 01, 2017, 02:30:33 PM
 #3177

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.
Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.
Addition means they are on the same level, it's not actually because bitcoin was never considered as legal tender as per definition of the government standard. A real money is the money that was created by the government for it's people, bitcoin is not because it is created by an anonymous person which until now we do not really know his real identity. Let's face the fact that bitcoin will never replace or level to fiat but it will bring good satisfaction to the people who knows how to use it up to a certain level of limitations only.

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April 01, 2017, 02:56:53 PM
 #3178

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.
Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.
Bitcoin is a secondary source which is getting stronger to go mainstream with its growth and technology advancing. Right now if bitcoin have got paper form it could have reached more users who are unaware of bitcoin and other virtual currencies.

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April 01, 2017, 03:05:15 PM
 #3179

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.
I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.
Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.
Bitcoin is a secondary source which is getting stronger to go mainstream with its growth and technology advancing. Right now if bitcoin have got paper form it could have reached more users who are unaware of bitcoin and other virtual currencies.

There will be a lot of changes if it got a physical form. This value also could may not be reached because of that. We know there are too much currencies in our world there are strong and weak and most of the people invest their money in USD even if they are from other countries.
Paper money is strong because of that and also because it is legal. Making a physical form for bitcoin already didn't work and might not also in the future.

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April 01, 2017, 07:32:46 PM
 #3180

paper money have your days count

While I agree with you, it's not because of Bitcoin. Digital fiat is the reason paper currency will go away, as I find digital fiat to be far more versatile and stable than any crypto. Bitcoin might be the best crypto, but all that makes it  is the best version of the least dependable payment option

And what does that have to do with the price of tea in China?

More specifically, if you find "digital fiat to be far more versatile and stable" than any cryptocurrency out there, what does this comparison have to do with paper money? Should we thus conclude that digital fiat is more stable than its representation in the form of paper bills? In a sense, digital fiat can in fact be considered more stable since it is basically indestructible unless you blow up a central bank server room (provided there is any, in the first place), but this doesn't seem to be what you likely meant to say

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