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Author Topic: The future of the paper money  (Read 403671 times)
Sled
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April 16, 2017, 01:58:29 AM
 #3221

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.

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April 17, 2017, 07:50:14 PM
 #3222

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
 #3223

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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April 18, 2017, 12:31:12 AM
 #3224

Paper money being banned entirely will be impossible,then if it will happen im pretty sure by that time government will be out also.Even if bitcoins will gain more popularity and praises from users and people in future paper money will never be gone ,
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April 18, 2017, 01:24:00 AM
 #3225

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.
I think the Indian government not impose its time. currently still at the time of paper money, so when you're forcing everyone to use the digital and abandon paper money, of course it can not be done

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April 18, 2017, 02:17:38 AM
 #3226

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.

That seems rather silly. Paper money is not at all necessary for bribes to exist. The only thing that makes cash advantageous is the anonymous aspect of it, and crypto has largely made that a non-issue. Perhaps t will soon be possible for crypto currencies to be completely anonymous. But in any event, cash will live independent of how many bribes are taking place.


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April 18, 2017, 02:42:40 AM
 #3227

I think paper money in the future will always be in use since the beginning of all that to make transactions done by a system of exchange used goods, the inventors had the idea exchangers menngunakan items that are too complicated then he brought out a tool exchange using money in the form of paper money, then in future banknotes will remain in use, although the current technological development much more simple to use transactions using digital money.
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April 18, 2017, 02:45:03 AM
 #3228

Paper money will stay forever.
Why? Because its easier to make than coins.

Paper money Will continue forever because of People need this and easy to make . Paper Money can control world and governnment also they handle banks and Business . If Paper money is gone no one can live .

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April 18, 2017, 02:47:41 AM
 #3229

I think your thoughts on paper money being vanished gone or banned due to bitcoins popularity and being replaced by bitcoins is completely wrong.Even big holders and investors of bitcoins also know that bitcoin will never ever replace a country current financial system which is paper money.Bitcoins will be gone but paper money will not


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April 18, 2017, 06:37:00 AM
 #3230

I think your thoughts on paper money being vanished gone or banned due to bitcoins popularity and being replaced by bitcoins is completely wrong.Even big holders and investors of bitcoins also know that bitcoin will never ever replace a country current financial system which is paper money.Bitcoins will be gone but paper money will not
That is true that bitcoin cannot replace paper money on a particular country but there is a high possibility that bitcoin will help them to have a higher chance to have a greater and more efficient financial system when they get to adopt bitcoin to their country. Bitcoin will not be gone but it will continue to live because these kind of improvements and achievements will be the foundation of bitcoin to not be gone easily but to long live even longer than we expected.

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April 18, 2017, 06:43:40 AM
 #3231

I think your thoughts on paper money being vanished gone or banned due to bitcoins popularity and being replaced by bitcoins is completely wrong.Even big holders and investors of bitcoins also know that bitcoin will never ever replace a country current financial system which is paper money.Bitcoins will be gone but paper money will not
That is true that bitcoin cannot replace paper money on a particular country but there is a high possibility that bitcoin will help them to have a higher chance to have a greater and more efficient financial system when they get to adopt bitcoin to their country. Bitcoin will not be gone but it will continue to live because these kind of improvements and achievements will be the foundation of bitcoin to not be gone easily but to long live even longer than we expected.
No government will take bitcoin as their exchange payment option.fiat will always remain for next few years then they are replaced by digital payment option(here not talking about cryptocurrency).blockchain is incredible technology and may be it will be used as payment technology but not cryptocurrency. cryptocurrency will remain as gambling option like share market are there or maybe in nearby future altcoin trading will also dominate gambling market.


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Oo ako to
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April 18, 2017, 07:34:41 AM
 #3232

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

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April 18, 2017, 07:39:53 AM
 #3233

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

I agree with you. Bitcoin is only at the implementation stage and he has a great future. But for the time being it is becoming popular, Fiat will be used more than the crypto currency. I agree, 50-100 years will still exist paper money
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April 18, 2017, 08:30:08 AM
 #3234

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

In order for paper money to completely disappear, it is necessary that the digital currency works smoothly anywhere in the world, it is necessary to develop further in this direction.
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April 18, 2017, 09:50:10 AM
 #3235

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

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April 18, 2017, 02:07:33 PM
 #3236

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.
Still a debate for everyone whether digital currency will replace paper money, and paper money will be gone unused. But in my country paper money demand is still very high, although digital currency is now also widely used. For at least 10 years paper money will still be used widely. And I think until whenever the paper money will not be replaced although growing digital currency. It would be very difficult to replace paper money.
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April 18, 2017, 04:00:17 PM
 #3237

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?


Well, paper money would continue used by people as government and bank allows transaction in paper money... and also not everyone is interested on bitcoin and computing world in-general. there's is a huge number of people out there that still don't understand the concept of bitcoin and cryptocurrency. Thus, the challenge remains because not everybody trust in digital currency, more than half of the people still prefer paper money than digital currency because it's physical and easily accepted by people and banks. For digital currency must of the people that are using digital are currency are nerdy and computer literate and actually knows where to spend the bitcoins as well.

Bitcoin is surely the currency of the future and the future is now for us! for us, paper money is nothing but garbage because we're living in the future! though there's a lot of people that still doesn't know anything about the bitcoin world, and that is where the paper money would still work because those people are still leaving in the dark age! So, digital and paper currency would be used both by people based on their knowledge, skills and experiences. But in-time, sooner or later the paper money would fade away like how gold coins fades away in the 20th century! 

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April 18, 2017, 04:03:01 PM
 #3238

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

To begin with, you need to adjust the work of digital currencies. In my country, it is not always possible to pay off digital money anywhere and paper money is very popular.
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April 18, 2017, 04:15:17 PM
 #3239

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.
Still a debate for everyone whether digital currency will replace paper money, and paper money will be gone unused. But in my country paper money demand is still very high, although digital currency is now also widely used. For at least 10 years paper money will still be used widely. And I think until whenever the paper money will not be replaced although growing digital currency. It would be very difficult to replace paper money.
My understanding to that is, we will still use paper money even if the world is moving fast, digital currency is the new trend now but we still
cannot deny that majority of the worlds population are living in poverty and i don't think they will be interested with technology, they are focus
on their basic needs, food and shelter is what they need.

 
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April 18, 2017, 11:41:33 PM
 #3240

The future of paper money is very bright and clear, it will obviously dissapear, because the digital currencies will overcome the old fiat.

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