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Author Topic: The future of the paper money  (Read 403585 times)
locho16
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March 08, 2016, 04:10:46 AM

As an economics professor and economic expert here at About.com, I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare - for some, they already are! At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money. But even this scenario is difficult to picture, in part because of how we have historically placed a value on paper money.
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nostal02
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March 08, 2016, 04:29:07 AM

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

I couldnt agree more,as we are heading towards the future and everything is turning digital and fast paced. Paper money will have its end in the future
people are always looking for a better way which make their lives easy,like having atm,credit cards.Change is inevitable and we are constantly changing.
blackmachinegun
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March 08, 2016, 06:59:55 AM

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.
I think it's still a very long time to happen dude. paper money still in force anywhere in the world. coins and paper money will always be valid for some decades. will start at left if there is any technology or a more powerful currency became popular. bitcoin is not so popular

trenchflaint
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March 08, 2016, 07:27:58 AM

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.
I think it's still a very long time to happen dude. paper money still in force anywhere in the world. coins and paper money will always be valid for some decades. will start at left if there is any technology or a more powerful currency became popular. bitcoin is not so popular


Bitcoin is still in its project phase,like when they first invented money it took some time before anyone knew about money.
Paper money will just be written in history as part of the most influential thing in the world.

LuckyYOU
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March 08, 2016, 08:24:28 AM

Paper money will of course exist in the future. And that will be no problem and many people will use it of course in the future, they need it.
We all hope also that more people will use Bitcoin more in the future and that it will becoming more popular.

Altynbekova
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March 08, 2016, 08:26:31 AM

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.
I think it's still a very long time to happen dude. paper money still in force anywhere in the world. coins and paper money will always be valid for some decades. will start at left if there is any technology or a more powerful currency became popular. bitcoin is not so popular


Bitcoin is still in its project phase,like when they first invented money it took some time before anyone knew about money.
Paper money will just be written in history as part of the most influential thing in the world.

Paper money is very much being used today and so it will be for the next years.
So if you like paper money (like me) there is nothing to worry about) there's plenty of usage for that.
Imran.shamsi
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March 08, 2016, 10:14:52 AM

paper Money Issue by government and paper money never change to digital money because paper money is easily acceptable in any where in world and easily available.

RealPhotoshoper
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March 08, 2016, 11:55:55 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?

the possibility always exist,but how much we sure about that,its about how much we trust our paper money,as long we still need papper money,we will never leave it.
Paper money will be banned entirely? no,i dont think this will happen.
How long do you think that happens? even this is happen,maybe on future,year of 2030 maybe.
would it work? no as i said before,so many poor people must keep their papper wallet.
What security and privacy risks would it raise? internet is not common thing in some country.

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ausbit
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March 08, 2016, 12:02:46 PM

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?

the possibility always exist,but how much we sure about that,its about how much we trust our paper money,as long we still need papper money,we will never leave it.
Paper money will be banned entirely? no,i dont think this will happen.
How long do you think that happens? even this is happen,maybe on future,year of 2030 maybe.
would it work? no as i said before,so many poor people must keep their papper wallet.
What security and privacy risks would it raise? internet is not common thing in some country.


That's true I think paper money will always exist as many people find it more comfortable to use it, and unedcuated people will never use bitcoins for making payment as it would be really complicated for them to use it, So I think some proportion of people will always use paper money.

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March 08, 2016, 12:04:06 PM

I think the future of the paper money is very bad because the paper money will disappear one day for sure.
Everything is gonna be digital, every currency will be digital I'm very sure of that.
alisafidel58
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March 08, 2016, 12:06:55 PM

I think the future of the paper money is very bad because the paper money will disappear one day for sure.
Everything is gonna be digital, every currency will be digital I'm very sure of that.

Yup the paper money will surely disappear,but it will take maybe a century before that happens.

nickenburg
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March 08, 2016, 01:51:43 PM

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.

Yes I think so to, and it is already happening as well.

Think of it The money on your bank account is digitally already.
You already doing digital transactions with it as well.

The problem it is backed bye nothing, the bank doesn't even have the money in the bank to pay everyone their money!
If everyone chooses to withdraw money from the bank there would be a big problem.

That is why Bitcoin is the future!
n0ne
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March 08, 2016, 02:33:37 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.



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eddyubachs
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March 08, 2016, 02:37:58 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

That would be great if bitcoin gets into paper form it will increase the customer base if that happens and it will gain more attention from the people have more faith in something that they can hold physically or keep it physically in their wallet.
landoadog
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March 08, 2016, 03:18:23 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

Lets just hope that the government will allow that,if the government wont gain tax from what is sold in their country they might push a law about that.
CryingMidget
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March 08, 2016, 03:23:28 PM

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.

Even I agree to your point I feel even Bank also will comes to work with bitcoin in future instead of fiat currency. People are moving forward to the digital world as you said. Soon bitcoin will be aware of all people around the world.
adibe
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March 08, 2016, 03:23:58 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

Yeah i really want bitcoin have physical money like paper money. So i'm sure more people will start using bitcoin and also bitcoin will get more popular.
richardsNY
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March 08, 2016, 03:26:31 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

Just no. Bitcoin in paper form already exists in the form of paper wallets with the private key(s) printed on it to redeem the coins if you so wish. There are also physical coins with a private key attached to it as sticker, but it basically works the same as paper wallets. I'm sorry to say, but this will never work as fiat paper money in the real/offline economy.

goinmerry
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March 08, 2016, 03:34:48 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

Lets just hope that the government will allow that,if the government wont gain tax from what is sold in their country they might push a law about that.

That would be hard. Government is against bitcoin due its bad past. Illegal transactions that have been done and as you said there is no tax. They wont get anything so why accept it.
gerXhonza
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March 08, 2016, 04:01:23 PM

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.

Lets just hope that the government will allow that,if the government wont gain tax from what is sold in their country they might push a law about that.

That would be hard. Government is against bitcoin due its bad past. Illegal transactions that have been done and as you said there is no tax. They wont get anything so why accept it.

Yeah and I don't think that government will support bitcoin in future, they will always support fiat as they have total control over it, and they know that they cannot have control  on bitcoin as it is decentralized currency.
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