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Author Topic: The future of the paper money  (Read 404011 times)
Fatanut
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April 06, 2017, 01:33:28 PM
 #3201

paper money or cash will die, but I dont see it happening in the US for another 30 or so years. They will slowly pull it out of circulation and not just ban it all at once.

Right. There are so many powerful people that can be affected if paper money will be remove. Mentioning businessman, bankers, central banks, banks owners and governments, this will be a bloody war if Bitcoin happened to replace fiat. Banning all of fiat might be possible but they will only make it possible  they can control cryptocurrencies too. They won't agree to a situation where they will lose, that's how the world works now.

It maybe a hundred more years before fiat can be replace. Yup, I believe in bitcoins potential to overthrow fiat but I just don't see it happening now. There's so many flaws, factors, and odds.

I think at the time when paper money is already gone, people actually chose to convert all of their paper money to bitcoin and not that the government banned paper money. They are not going to ban it because it belongs to them. It's their primary way to control their people. It will be more of a revolution. People has chosen to use an unregulated currency rather than staying as a slave to their government.

In a situation like that, whether they agree or not, whether they're going to lose or not, they don't really have the choice since people have already made their decision. Although of course the government will do action to fight it, if we really are in a democratic country and the power really belongs to the people like they say, we should win.


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April 06, 2017, 03:28:26 PM
 #3202

Well you should be ready for the change and you will actually have electronic economy / cashless society very soon. You feel unfortunate about it, well AU gov't want to nail out your taxes properly. I'm thinking that countries that are nearby Australia will do the same thing and they'll think it as a success with their technology.
There is no doubt that we are going toward a cashless society and more and more going to use digital money to pay for thing s instead of paper money, but I think it is going to take some time because people are used to using paper money and changing that is kind of hard.

Besides electronic money encourages more money theft, I mean what is easy stealing money from your pocket or from your digital wallet.

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April 06, 2017, 03:32:10 PM
 #3203

I'm sure the future of paper money will disappear, gradually be replaced by digital money and then cryptocurrency. currently many countries that try digital money like China, South Korea and Japan. If success will be followed in other countries.
The thing that must happen I think but paper money will be lost not directly but on a regular basis. little by little people in the world will be changed using digital money
The Probability is high. line with the times. rivalry and competition between humans become increasingly severe. we are required to fast-paced, bitcoin and blockchain technology will be helpful in the present and the future, especially for fintech industry. despite that bitcoin still have serious competitor, namely gold, because its price is also getting up. but it is not practical to carry around. I think bitcoin more had a great chance to replace paper money in the future.

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April 06, 2017, 04:56:13 PM
 #3204

The future of the paper money will never change. People will always use normal gold to buy their
stuff. People cant live without paper money these days. Maybe after a 100 year it will be gone but
don't think so.

As long as government produce and disseminate paper money, they will always be alive..Even if their citizens don't want to use it, if that's the only legal tender accepted in their locality, then probably they will be pushed to use it...
I respect your opinion sir, But in my assessment with this things Paper money will disappear in the future, I'm not religious type of a person but some verses in the bible where it can be found in the book of revelation time will come that money will no longer be useful and no one can buy anything unless they have the mark of the beast, I don't understand that exactly, all I know by that time is all paper money in the entire world will be like a toilet paper.  Undecided

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April 06, 2017, 11:53:44 PM
 #3205

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.
It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new


Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society.
cashless society? yeah it looks like it is already happening today many of my friends are currently using a credit card or debit card to pay for goods. even if you are in the supermarket most buyers use credit cards.



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April 07, 2017, 12:24:35 AM
 #3206

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.
It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new


Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society.
cashless society? yeah it looks like it is already happening today many of my friends are currently using a credit card or debit card to pay for goods. even if you are in the supermarket most buyers use credit cards.
But you can reasonably use either and people still have cash with them in their day to day lives for convenience purposes.  Credit cards will never be quite as good as cash, people tend to use them because they have a lot of money in the bank and can therefore use it there and then.  Physical cash still has a future, especially if Bitcoin does better in the digital world because then cash will probably still be just as good in person.

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April 07, 2017, 12:56:40 AM
 #3207

I'm sure the future of paper money will disappear, gradually be replaced by digital money and then cryptocurrency. currently many countries that try digital money like China, South Korea and Japan. If success will be followed in other countries.
The thing that must happen I think but paper money will be lost not directly but on a regular basis. little by little people in the world will be changed using digital money
The Probability is high. line with the times. rivalry and competition between humans become increasingly severe. we are required to fast-paced, bitcoin and blockchain technology will be helpful in the present and the future, especially for fintech industry. despite that bitcoin still have serious competitor, namely gold, because its price is also getting up. but it is not practical to carry around. I think bitcoin more had a great chance to replace paper money in the future.
a pshysical money or a paper money would always needed now or later , digital money would be an option for those people who want to make a transaction flexible, faster and easier . i never think that paper money could disappeared , and digital money the only currency that we would use in the future. nothing can replace paper money , both should be used contiguous.

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April 07, 2017, 01:53:48 AM
 #3208

You talking about something which has been in effective because of government. Banks or currency or tooth-brush to Lamborghini every stuff that exists is created by authority of government. On the other hand you talking about money which is the only reason why earth is spinning today! Well, what I mean with this quote is, paper money or any form of it is controlled under the rules and regulation of Government. Moreover bitcoin is privately operated/created which is first drawback that it may replace paper money. If government bans paper money then they might pull a crisis for themselves. In real world it may not happen. So there is no chance of happening other consequences which you have enlisted in your question. :-)

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choppork
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April 07, 2017, 08:15:17 AM
 #3209

You talking about something which has been in effective because of government. Banks or currency or tooth-brush to Lamborghini every stuff that exists is created by authority of government. On the other hand you talking about money which is the only reason why earth is spinning today! Well, what I mean with this quote is, paper money or any form of it is controlled under the rules and regulation of Government. Moreover bitcoin is privately operated/created which is first drawback that it may replace paper money. If government bans paper money then they might pull a crisis for themselves. In real world it may not happen. So there is no chance of happening other consequences which you have enlisted in your question. :-)

It is true that almost everything has the authority of the government but not everything. If I grew tomatoes in my garden, the government doesn't know that unless an agent of them goes to my house. If I killed someone but I committed the perfect crime, the government will not find out about it. What I'm talking about is that smaller stuffs tend to be hidden from the government and also it's because they don't care.

Bitcoin is not privately operated/created. Anyone can do it. Anyone can operate it. Anyone can validate the transaction. If Bitcoin is privately operated, then that means it has a central part which bitcoin doesn't have. I disagree with you unless you meant something else about bitcoin is privately operated.
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April 07, 2017, 09:46:50 AM
 #3210

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.
It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new


Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society.
I think cashless society happens for a reason. The main course is because it is more simple right ? you only need 1 card to pay for everything. easily stored and used and to avoid the theft of money

Of course people choose the most simplest like using a card for pay everything, but i'm sure some developed country still use paper money. I mean the future of the paper money is still exist in some countries, but on modern country like USA, Japan and Korea, they can easily move on into cashless society.
Bitcoin0916
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April 08, 2017, 02:13:16 PM
 #3211

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.
It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new


Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society.
I think cashless society happens for a reason. The main course is because it is more simple right ? you only need 1 card to pay for everything. easily stored and used and to avoid the theft of money

Of course people choose the most simplest like using a card for pay everything, but i'm sure some developed country still use paper money. I mean the future of the paper money is still exist in some countries, but on modern country like USA, Japan and Korea, they can easily move on into cashless society.
Yeah right, a simple example is a document which is still printed on paper even though the hard disk storage is already massive. Paper money will continues to exist because all rights reserved by the government.
bustedsynx
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April 08, 2017, 02:15:30 PM
 #3212

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

Yes, paper is convenient to those who live on a "cash" basis. But governments want to abolish paper currency to track everyone's wealth.

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posternat
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April 08, 2017, 03:19:55 PM
 #3213

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  


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geegaw
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April 08, 2017, 03:37:45 PM
 #3214

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  
Yes, paper money will never be banned because it is so popular in many countries around the world. Traditional paper money has existed for many years, until now the paper money is still the common currency. In India, they banned and burned paper money because their money had inflation and money laundering,  so the government needed to destroy paper money to prevent these problems. But I believe that just wait for a short time when everything is settled, the government of India will print out new paper money, I'm quite sure about this

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grandy
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April 08, 2017, 11:47:44 PM
 #3215

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  
yes that is very right that paper money cannot be banned but its use can be reduce. if the user of bitcoin will increase then the use of fiat will automatically decrease.



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April 15, 2017, 09:08:09 PM
 #3216

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  
yes that is very right that paper money cannot be banned but its use can be reduce. if the user of bitcoin will increase then the use of fiat will automatically decrease.

The paper money usage has already been reduced. I do most purchase with credit cards.
Plus it's not at all unlikely for it to reduce further.  It's very hard for governments or banks to track cash transactions, whereas with digital fiat it's right under their nose and they can find out if you're doing something that they deem to be wrong.  I would hope that Bitcoin would have a healthy relationship with physical fiat in the future.

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April 15, 2017, 11:29:49 PM
 #3217

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  
yes that is very right that paper money cannot be banned but its use can be reduce. if the user of bitcoin will increase then the use of fiat will automatically decrease.
yes currently the future of paper money is bright. i think event those people who are using bitcoin trading and so many other options but still they are using paper money, they consider bitcoin as extra income in current time.  but i am hopeful that in future bitcoin will become one of the important thing of our life.
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April 16, 2017, 01:58:29 AM
 #3218

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.   
yes that is very right that paper money cannot be banned but its use can be reduce. if the user of bitcoin will increase then the use of fiat will automatically decrease.
yes currently the future of paper money is bright. i think event those people who are using bitcoin trading and so many other options but still they are using paper money, they consider bitcoin as extra income in current time.  but i am hopeful that in future bitcoin will become one of the important thing of our life.
Bitcoin will be one of the successful project in the history soon in the future. Paper money will always have a future because the government support them but the twist here or the good thing is, bitcoin will be together with the fiat or paper money because it will help each other when the government already knows what are the good things in bitcoin. I think it will be good for both of them if they will stray in the world together because it will make our life easier.

karinaA
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April 17, 2017, 07:50:14 PM
 #3219

People love paper money. But the government does its best to reduce the turnover of cash. This is due to the fact that the government wants to fully control the movement of money. And cash is very difficult to track
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April 17, 2017, 11:48:15 PM
 #3220

Paper money will not be banned completely.Recently, indian government tried to demonitize high value paper notes inorder to increase digital transactions.But it didnt give any expected results and when new notes were released,people once again started using paper currencies.Venezuela also tried to demolish paper currency and failed.So,paper money would exist in future but its users would get reduced in numbers.

In reality, Paper money can't be banned forever. You know our world whole depend on paper money. Without it we can't live and eat and nothing we could do anything. Just you give us example of India, it is true, their government do it, but still Indian's government not want to close paper money. They do it because they want to control their value of money.  
i also think that paper money will continue for long long time, as still all the people even those who are using bitcoin for shopping and other purposes are also depending on fiat for life, therefore  i will like to say that it will continue for long long time.

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