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Author Topic: The future of the paper money  (Read 412926 times)
chineseprancing
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April 19, 2017, 06:15:40 AM
 #3241

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

Paper money will remain alive and kicking for many years actually. The net worth of paper money or specifically dollars transcend far enough which may take super long to reach. For now the future of paper money still continues to live and it is impossible for now and the next years to come for it to disappear.
I agree with that, we cannot eliminate paper money in the circulation as this is the most simple way to use for people who has no
idea bout online currency. Bitcoin is only for educated people and there are a big number of uneducated people who only knew paper
money which they used on a daily basis.
Correct and also bitcoin is required gadgets which not all people can buy android phone specially for those poor people they are prefer to buy food than to provide gadgets and they can use is only paper money and not digital currency.

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Celsiuss
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April 19, 2017, 06:47:49 AM
 #3242

This is actually something that might just happen in Norway. Some politicians want to get rid of paper money by 2025. Currently the law says that every service or store are required to accept cash as a payment method.
In order to shift over from paper money, everyone will need a bank account, even small kids who want to buy an ice cream.
If we all go away from paper money, the banks will have full control over the economics in the country. Unless the country starts accepting bitcoin as a payment method, I think that this is a very bad idea.

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April 19, 2017, 06:59:27 AM
 #3243

Paper money will never be destroyed, even when everyone starts using the card system as well the digital currencies. There are countries that have made plans to digitalize their currency, but haven't revealed statements that the paper money will be taken from the usage.

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April 19, 2017, 02:15:56 PM
 #3244

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.
Yes, the interest of people to use paper money I think will continue to exist even when the digital currency began to grow. But this is not because there are still many poor people and are not familiar with the technology, but because I think the paper money will still be a need for the transaction. I'm sure for some transactions using paper money still will be a favorite. If digital currency began to spread and be used indeed it would reduce the circulation of paper money, but I think is not to make it disappear. We see 20 years from now, paper money will still be used or not.
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April 19, 2017, 02:48:58 PM
 #3245

This is actually something that might just happen in Norway. Some politicians want to get rid of paper money by 2025. Currently the law says that every service or store are required to accept cash as a payment method.
In order to shift over from paper money, everyone will need a bank account, even small kids who want to buy an ice cream.
If we all go away from paper money, the banks will have full control over the economics in the country. Unless the country starts accepting bitcoin as a payment method, I think that this is a very bad idea.

I don't think this is a very likely event

In fact, there are a lot of reasons to diminish the use of paper money (and cash as such), but they have mostly nothing to do with governments wanting more control over the finances of their citizens. If there is no cash around, bribes and illegal payments will still be made with gold bars and coins (or even with bitcoins, wtf). Cash won't go away completely but its use is likely to get limited through pure economic means. In other words, where cash is more handy, people will continue to use cash. If cash is outlawed directly, people will just start using some other money token (so-called monetary surrogate) instead of official currency, so there is no sense in outlawing it completely

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April 19, 2017, 03:20:57 PM
 #3246

Paper money will never be destroyed, even when everyone starts using the card system as well the digital currencies. There are countries that have made plans to digitalize their currency, but haven't revealed statements that the paper money will be taken from the usage.
Of course, paper money has existed as an indispensable part of our lives, we will never destroy our own lives, so the destruction of paper money is impossible. I think the future of paper money is just a form of innovation but in essence it is still the most popular and widely used currency, paper money still will exist forever but the use of paper money may be limited in the future and replaced by some other form of payment (Bitcoin). I think people still prefer paper money than Bitcoin because paper money transactions more convenient

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April 19, 2017, 04:16:11 PM
 #3247

I think that paper money will cease to exist in the next 5 years. And the government will accelerate this process. After all, paper money is very difficult to control. Therefore, they will be digitized
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April 19, 2017, 05:54:47 PM
 #3248

Paper money will disappear from our hands but, it will take more time. Still many people do not know about internet and online payment methods. So first countries have to educate their people then they can easily remove paper currency from daily usage. 

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April 19, 2017, 06:07:23 PM
 #3249

I think that paper money will cease to exist in the next 5 years. And the government will accelerate this process. After all, paper money is very difficult to control. Therefore, they will be digitized

Too fast. In the underdeveloped countries they can not settle problems with paper money, but some people have not even heard about digital ones.
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April 19, 2017, 08:31:56 PM
 #3250

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.
i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin,  i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will be using bitcoin in every corner of the world. in fact still there are some countries and modern cities where people are already using bitcoin for payment method as well as for so many other purposes.
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April 20, 2017, 03:36:51 AM
 #3251

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.
i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin,  i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will   be using bitcoin in every corner of the world.
Not even in my dreams, we are thinking it is possible but we neglect to see how small we are as a community compared to fiat or paper money. It's true that we are growing but that in a bigger rate, we will never replace paper money as the government will simply does not gonna allow it.
Think of the majority, not all people are getting used to the technology, most of them rely on simpleness and paper money offers it.

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April 20, 2017, 03:59:31 AM
 #3252

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.
i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin,  i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will   be using bitcoin in every corner of the world.
Not even in my dreams, we are thinking it is possible but we neglect to see how small we are as a community compared to fiat or paper money. It's true that we are growing but that in a bigger rate, we will never replace paper money as the government will simply does not gonna allow it.
Think of the majority, not all people are getting used to the technology, most of them rely on simpleness and paper money offers it.
When talking about paper money disappearing we are talking about changing to a cashless society not bitcoin taking over.

There will always remain a form of cash but the government and banks are just going to make it harder for us to use paper money because digital transfers are not only cheaper for the bank but easier for the government to track your income for tax purposes.

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April 22, 2017, 08:28:27 AM
 #3253

Paper money will disappear from our hands but, it will take more time. Still many people do not know about internet and online payment methods. So first countries have to educate their people then they can easily remove paper currency from daily usage. 

Educate people is what the government doing for quite a while now. Apparently, many people chose not to do so. Tons of teenagers have the money and the capability to finish college but they don't. We are so pre-occupied by other stuffs. There's far more distractions and addicting stuffs around us that we start wasting time and money on trivial stuffs.

There will always be people living in the streets, selling stuffs just to eat even once a day. There will always be people that cannot afford education even when there's no tuition fee. Of course these people will do their best to earn money to be able to eat first before they start educating themselves.

And even when every single one have learned how to use the internet and can use the internet, people aren't going to do such thing as making themselves knowledgeable about bitcoins unless it's required to do so. For example, if fiat was gone and the only way of transacting is through bitcoins.

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April 22, 2017, 09:19:35 AM
 #3254

Well, I think very much change from paper money in all countries, and I think paper money will continue to be used for a long time, because in my opinion, paper money is easier to use for now than digital money, Discount in using paper money.

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April 22, 2017, 09:29:02 AM
 #3255

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.
i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin,  i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will   be using bitcoin in every corner of the world.
Not even in my dreams, we are thinking it is possible but we neglect to see how small we are as a community compared to fiat or paper money. It's true that we are growing but that in a bigger rate, we will never replace paper money as the government will simply does not gonna allow it.
Think of the majority, not all people are getting used to the technology, most of them rely on simpleness and paper money offers it.
When talking about paper money disappearing we are talking about changing to a cashless society not bitcoin taking over.

There will always remain a form of cash but the government and banks are just going to make it harder for us to use paper money because digital transfers are not only cheaper for the bank but easier for the government to track your income for tax purposes

I have a somewhat different opinion

More specifically, I don't think that governments and banks are deliberately trying to make it harder for us to use cash. I'd rather say they are sooner trying to make non-cash payments more handy and easily available to ordinary people and thus crowd out paper money from circulation on purely economic grounds. If they were really trying to impede or hamper using cash (for example, by banning cash transactions), people would just start using some cash substitutes or bills and coins of some reliable foreign currency

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April 22, 2017, 09:51:43 AM
 #3256

I think that today's world is riled by politicians, many of which came from business. They are pushing us to use bank's cards and online payments which seems much more comfortable, cause of you don't need to hold all your money with you. But all this services are taking fees which are going from one level of authority to another higher and higher, that make the wealth of this politicians and businessmen only bigger and bigger. If you really want to economy your money, which in more cases are not so big, use paper money payments and stay away from all this cards and online services.


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NEWGOODOUBLE
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April 22, 2017, 10:37:29 AM
 #3257

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.
because the user is still undeveloped and understand much about digital. and use digital currencies can not be implemented directly, it should be a gradual process
FLUX-project
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April 22, 2017, 11:50:53 AM
 #3258

That is very interesting idea.As for me humanity isnt ready for that in the nearest future)
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April 22, 2017, 11:57:48 AM
 #3259

Future of paper money? hmm everyone can say about the real future of money but only can knew about what really happens on the future about this money many countries are doing great business with money and this will never disappeared for us who using daily basis and assitance.

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April 22, 2017, 05:34:28 PM
 #3260

I think that today's world is riled by politicians, many of which came from business. They are pushing us to use bank's cards and online payments which seems much more comfortable, cause of you don't need to hold all your money with you. But all this services are taking fees which are going from one level of authority to another higher and higher, that make the wealth of this politicians and businessmen only bigger and bigger. If you really want to economy your money, which in more cases are not so big, use paper money payments and stay away from all this cards and online services

That's mostly nonsense

And it seems you are really not familiar with payment cards and just repeating some pointless drivel. As I have already told numerous times, many banks offer cards which are just profitable to have (in comparison with keeping your money under the mattress). You get interest on the remaining amount in your account, you often can make instant card-to-card transfers free of charge, you are offered protection in the form of chargeback. Wtf, you may even get decent cashback on certain categories of purchases. Personally, I see no reason to use cash whenever I can pay with my debit card (and I have quite a few)

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