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Author Topic: The future of the paper money  (Read 403630 times)
sana54210
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April 28, 2017, 08:36:53 PM
 #3341

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.

You don't have to rely on Bitcoin to kill off paper money though. Digital fiat will be the end of paper currency long before bitcoin will. Digital fiat already dominated the US economy. Far more value is exchanged digitally than physically, perhaps even more absolute transactions as well.

Some countries I think would or will replace their paper currency with the digital ones that is those countries who are wealthy but to those who are not might just retain their system as their access in this technological advance can't cope up with their living that is they need cellphones or what to connect to internet and proceed with the transactions. It is natural to think that Bitcoin will be the one to trigger the transformation of fiat to cryptocurrency as it is the leading digital coin and much more reputable and advantageous in many aspects which everyone would like but it may or may not be Bitcoin because the can just create a cryptocurrency to be used within the country in order to replace what they have now so the government can control it but not fully control it if you know what I mean so that they can put come taxes on it.
It is just an assumption or a hypothesis but being practical I don’t think anything like it is going to happen as we all k now the importance of the paper money and the complications connected to the digital currency. It may be possible that in some parts of a country people may prefer to use digital currency but the paper money is still going to be surviving long.


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April 29, 2017, 04:55:10 AM
 #3342

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.



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April 29, 2017, 05:22:34 AM
 #3343

digital money more safer than paper money... future is digital concept
The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.

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April 29, 2017, 07:21:08 AM
 #3344

digital money more safer than paper money... future is digital concept
The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.
Right, I think digital money can not be more secure than paper money because digital money is easy to be hacked and stolen, every year I hear hackers attack and steal millions of digital money. The security of digital money is low, I never put too much faith and fortune into digital money, digital money is something very dangerous and using it in real life is very inconvenient. The future of digital money can grow but it is only added as a method of payment, paper money is still the most commonly used currency

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April 29, 2017, 08:18:57 AM
 #3345

The future of paper money is still bright and shining just like in bitcoin but i think most of the people here think that bitcoin will replace the paper money which is i don't think will happen because there is a lot of problems for bitcoin to be a replacement for paper money like the approval of the government and being anonymous which the government didn't like about bitcoin.

Yes sure, Bitcoin can never replace paper money! But I have doubt if paper money has glorifying future because trend says its use getting decrease day by day whereas bitcoin is being increasingly used. So by percentage change we can say bitcoin doing better than paper money.
You're right paper money is increasingly rarely used. You can see people prefer to use digital money to shop in stores. It means the future of paper money will be bad

"Paper Money  is rarely used"-That made me laugh a bit, where did you take that info from?
Paper money is probably the most used payment method in the world,being used daily by almost every human on earth.
"People prefer to use digital money to shop in stores"- again, where did you get that info from?, 99.99% of the stores on earth doesn't even accept digital currencies.

You should review your message before posing it as it makes nonsense.

I do not say rarely used, I say it is increasingly rarely used. That's different I know most people still use paper money to shop. But many people are starting to migrate from paper money
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April 29, 2017, 08:31:24 AM
 #3346

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too Roll Eyes

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April 29, 2017, 03:26:29 PM
 #3347

digital money more safer than paper money... future is digital concept
The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.
Right, I think digital money can not be more secure than paper money because digital money is easy to be hacked and stolen, every year I hear hackers attack and steal millions of digital money. The security of digital money is low, I never put too much faith and fortune into digital money, digital money is something very dangerous and using it in real life is very inconvenient. The future of digital money can grow but it is only added as a method of payment, paper money is still the most commonly used currency

Then what are you doing in here? It's ironic that you don't trust digital money and you're thinking that the security is low but you trust bitcoin enough to use it. You should have withdrawn all of your bank money and all of your bitcoins by the time that you realized all that. Yet here you are. Roll Eyes

You hear hackers stealing this and that but that doesn't mean that they are going to steal your money specifically. They would target online wallets or even exchanges. They will target something big. To make your bitcoins safe, which is also a digital money by the way, you should create a desktop wallet or even a paper wallet. You hear in the news people getting hacked and getting tricked, but that's their fault. They didn't secure their money enough.

In addition, your money in the banks are also digital money. But have you heard people that have been using the bank you're using that some of their money just went missing all of a sudden.


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April 29, 2017, 03:48:27 PM
 #3348

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too Roll Eyes

Well nowadays, you can lose money wherever you put it. Be it in a bank or an online waller, or on a piggy bank at home. Safety would be up to the person himself. You would have to make certain measure to make your savings, either btc or fiat safe from people who would like to take advantage.

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April 29, 2017, 03:51:09 PM
 #3349

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too Roll Eyes
Safe or not it depends on how we use it, so digital money and paper money are just the same. Both have the potential to disappear, so we must be careful using it. If talking about the future maybe yes it is a digital concept, but in my opinion does not mean paper money will be abandoned. Indeed, the circulation of paper money will be reduced but in some direct transactions I still believe the paper money will still be used. For 10 years from now I'm sure the paper money will still have a big demand.
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April 30, 2017, 06:57:55 AM
 #3350

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I think both have a good reason. Paper money can survive because it is easy to use and simple. But digital money has a good flexibility to carry a lot of money when they go out

   
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April 30, 2017, 07:13:37 AM
 #3351

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I think both have a good reason. Paper money can survive because it is easy to use and simple. But digital money has a good flexibility to carry a lot of money when they go out

Well, both are very good, especially paper money is currently busy used. Well, maybe now the use of paper money and digital money almost have the same function, but I am sure, someday, people tend to use digital money from paper money.

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April 30, 2017, 09:21:13 AM
 #3352

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I think both have a good reason. Paper money can survive because it is easy to use and simple. But digital money has a good flexibility to carry a lot of money when they go out

Well, both are very good, especially paper money is currently busy used. Well, maybe now the use of paper money and digital money almost have the same function, but I am sure, someday, people tend to use digital money from paper money.
Digital money is safer from what actually? Because you need to be clear on this kinds of matter because your statement is pretty big saying that is safer in comparison to Fiat Currency. Well let me hand you some examples why Bitcoin is not a safer currency too. Bitcoin is also targeted by people who want to be rich from HYIP site owners to ICOs that are pump and dump. It is no different than Fiat Currency because a lot of people can lose their Bitcoin through this methods even in Gambling and Trading.

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Pattart
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April 30, 2017, 10:49:21 AM
 #3353

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I know this will be hard to accept for many people. But I'm sure as time goes by. Technology will progress. And people will start using digital money


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April 30, 2017, 11:51:29 AM
 #3354

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I know this will be hard to accept for many people. But I'm sure as time goes by. Technology will progress. And people will start using digital money


The future will be for digital currency so bitcoin has a good chance to be more popular in the future, once the government will massively promote the use of digital currency people will be force to study on how to use it and along the way they will find bitcoin because it is popular in the internet.

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magmar
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April 30, 2017, 01:29:33 PM
 #3355

digital money more safer than paper money... future is digital concept
It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.
I know this will be hard to accept for many people. But I'm sure as time goes by. Technology will progress. And people will start using digital money


The future will be for digital currency so bitcoin has a good chance to be more popular in the future, once the government will massively promote the use of digital currency people will be force to study on how to use it and along the way they will find bitcoin because it is popular in the internet.
It has a possibilty to be used as major currency in the future but everything is not certain since it will need a lot of time and money in able to implement that.

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lovesybitz
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April 30, 2017, 05:21:25 PM
 #3356

Paper money is always safe and there is no threat to it from bitcoin as the users of paper money are more in compare to bitcoin and that will continue in future too.
But still we cannot predict what will happen tomorrow, it maybe now paper money was very safe but in the near future
it maybe gone or disappear, though its very hard for the people like that someday it can be replace by digital currency.


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rickadone
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April 30, 2017, 06:22:34 PM
 #3357

Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
I totally agree to you. Even if the BTC is a competitor of the paper money still I am not sure it can ever defeat the paper money. Like it is easy to transfer BTC instead of the traditional bank transaction but the use of the paper money is sometimes totally different than that of the digital one. Secondly not all the people of the world are that smart to use digital currency.

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killgald
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April 30, 2017, 06:37:44 PM
 #3358

I dont believe the paper money will desapear entirely from the planet, maybe in fisrt world countrys but in other parts of the world people believe in what they can saw and felt, for that reasons they need a proof that they have power or money that they can use to buy any kind of goods that they need or want.

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bartolo
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April 30, 2017, 06:53:25 PM
 #3359

The future of paper money is simply to disappear, it will not happen tomorrow, it will take some years but it will happen. In a certain way it´s something that has already begun, more and more payments are made with credit cards, debit cards, prepaid cards, etc. The workers receive their salary at the bank and pay their bills without getting the money out of there, there isn´t a movement of physical money, there are no bills changing hands. In various economic forums it´s already talking about a concept, cashless society, there is information on the net of what it supposes, I think that is where the world is going. In fact, Australia seems to be moving in that direction already. http://www.abc.net.au/news/2017-03-27/is-australia-on-the-brink-of-becoming-cashless-society/8377288



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paycum
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April 30, 2017, 08:54:37 PM
 #3360

Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
I totally agree to you. Even if the BTC is a competitor of the paper money still I am not sure it can ever defeat the paper money. Like it is easy to transfer BTC instead of the traditional bank transaction but the use of the paper money is sometimes totally different than that of the digital one. Secondly not all the people of the world are that smart to use digital currency.
I have seen many people around me who don't even prefer to use credit cards for shopping purposes as they have fear that somebody will hack their account and they prefer to use only paper money as they find it safe easy and most convenient way for shopping.

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