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Author Topic: The future of the paper money  (Read 403550 times)
bitllionaire
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May 05, 2017, 11:17:34 PM
 #3421

Paper money will vanish in the next 20 years at least in the developed countries. In developing countries it will exist several years longer.
However I can not say I don't like the direction we are heading. Digital centralized, completely controled government money is a nightmare.
how can you say that if in previous 9 years only one percent people have started using bitcoin then how can the remaning 99 %people will start using bitcoin i think it is not so easy. although a time will come when bitcoin will the main currency of the people but still people will continue using bitcoin.



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May 06, 2017, 12:00:00 AM
 #3422

Paper money will vanish in the next 20 years at least in the developed countries. In developing countries it will exist several years longer.
However I can not say I don't like the direction we are heading. Digital centralized, completely controled government money is a nightmare.
how can you say that if in previous 9 years only one percent people have started using bitcoin then how can the remaning 99 %people will start using bitcoin i think it is not so easy. although a time will come when bitcoin will the main currency of the people but still people will continue using bitcoin.
That time will not come that bitcoin will be the main currency because that is impossible for bitcoin to be the main currency of the people in our world because there is a lot of things to consider like the approval and support of the government, If the government from different countries in the world didn't allow bitcoin to be accepted then it will be very impossible for bitcoin to be the main currency.

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May 06, 2017, 12:04:49 AM
 #3423

I think, Paper money will continue​it's role in any economy.
it's unimaginable without paper money, this is the most popular form of money. People feel comfortable to purchase in regular life by spending money. It will be difficult to replace by any other form of currency.
So I believe that, future of Paper money is certainly certain.
I do accept with your idea. Not as many people know how to use bitcoin and other cryptocurrency and many people are still very ignorant. Moreover, many countries are still very pool to develop a good technology

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May 06, 2017, 10:25:31 AM
 #3424

I think, Paper money will continue​it's role in any economy.
it's unimaginable without paper money, this is the most popular form of money. People feel comfortable to purchase in regular life by spending money. It will be difficult to replace by any other form of currency.
So I believe that, future of Paper money is certainly certain.
I do accept with your idea. Not as many people know how to use bitcoin and other cryptocurrency and many people are still very ignorant. Moreover, many countries are still very pool to develop a good technology

both you are right I think. basic daily expenses are transacted through paper money by a physical exchange system. you don't need any terminals or gadget to do transaction with paper money, just you and your cash. digital currency would be beneficial for online transactions because of the accessibility of the internet but practicality would make paper money endure

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May 06, 2017, 11:14:53 AM
 #3425

Paper money would still exist.Most of people in under developed countries still dont even have bank accounts and they don't have credit cards.They are not familiar with digital transactions.Senior citizens still believe that paper money is the real money which they could feel in their hands.Even indian government tried to demonitize huge value currencies and tried to change people to digital transactions,but it could not.
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May 06, 2017, 12:43:44 PM
 #3426

Paper money would still exist.Most of people in under developed countries still dont even have bank accounts and they don't have credit cards.They are not familiar with digital transactions.Senior citizens still believe that paper money is the real money which they could feel in their hands.Even indian government tried to demonitize huge value currencies and tried to change people to digital transactions,but it could not.

Yes, many are simply afraid to use electronic money, it is easier for them to feel the real money in their hands. Thus, paper money will always be at least for some part of the population.
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May 06, 2017, 01:37:14 PM
 #3427

Paper money would still exist.Most of people in under developed countries still dont even have bank accounts and they don't have credit cards.They are not familiar with digital transactions.Senior citizens still believe that paper money is the real money which they could feel in their hands.Even indian government tried to demonitize huge value currencies and tried to change people to digital transactions,but it could not.

Yes, many are simply afraid to use electronic money, it is easier for them to feel the real money in their hands. Thus, paper money will always be at least for some part of the population.
When one is fully educated he will not hesitate to use electronic money because he knows it is convenient to transact online especially if most of your transactions are online, however for people who are not that kind of interested they will just remain conventional and use paper money as what they are used to. Bigger portion of our population will still be using paper money even if the new trend are digital currency, that is because they are living a simple life and some could still be under poverty.

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May 06, 2017, 02:58:02 PM
 #3428

Because of the progress of the times, I make sure all the things about paper will disappear, newspaper and magazines already earlier disappear. The first stage is the existence of digital money that is currently in a free trial of many countries.
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May 06, 2017, 03:05:10 PM
 #3429

Later paper money will be eliminated. Everything will change in the form of cards or of course in digital form. It's very nice if we transact only by showing QR Code. Unlike today, have to open a wallet and issue a paper money.


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May 06, 2017, 03:09:25 PM
 #3430

I think that paper money has no future. The development of technology will lead to the fact that each person will only use e-wallets. The only problem is that it will be harder to hide taxes. This is probably the main reason why paper money still exist.
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May 06, 2017, 03:18:50 PM
 #3431

There's alot of future in paper money that we can use this fiat currency to buy bitcoins and hold them into our bitcoin wallet or web wallets everything will be change but it will never disappeared maybe our new technology our becoming good but it will not turn into cards all.

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Rahar02
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May 06, 2017, 03:19:14 PM
 #3432

I think, Paper money will continue​it's role in any economy.
it's unimaginable without paper money, this is the most popular form of money. People feel comfortable to purchase in regular life by spending money. It will be difficult to replace by any other form of currency.
So I believe that, future of Paper money is certainly certain.
I believe so, there is no doubt that paper money is one of the greatest inventions to do a transaction between people easier.
Even gold could be replaced, fiat money has some advantages such as easy to carry on, instant transaction and divided into several values. Digital currency may have chance, but digital has some drawbacks, especially in the security problems.

Viviyang
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May 06, 2017, 03:39:30 PM
 #3433

I think that paper money has no future. The development of technology will lead to the fact that each person will only use e-wallets. The only problem is that it will be harder to hide taxes. This is probably the main reason why paper money still exist.
Paper money will be discarded in the future society as we can see the fact that in America itself most of the purchases are made by the credit and debit cards and not by cold hard cash.

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akar87
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May 06, 2017, 04:20:32 PM
 #3434

Paper money will be replaced, along with technological advances. Bitcoin will emerge as currency of future, everything will be connected with digital money.

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choppork
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May 06, 2017, 04:44:22 PM
 #3435

I think, Paper money will continue​it's role in any economy.
it's unimaginable without paper money, this is the most popular form of money. People feel comfortable to purchase in regular life by spending money. It will be difficult to replace by any other form of currency.
So I believe that, future of Paper money is certainly certain.
I believe so, there is no doubt that paper money is one of the greatest inventions to do a transaction between people easier.
Even gold could be replaced, fiat money has some advantages such as easy to carry on, instant transaction and divided into several values. Digital currency may have chance, but digital has some drawbacks, especially in the security problems.

I wouldn't really worry about security problems since the banks has been there for quite a while now and not much of them has got hacked. In the bitcoin world, you're on your own. Sure you can use an online wallet but you're just as safe as that online wallet is. If you use offline wallet, you're good to go. You have a physical item that you have to keep safe.

And since the digital currency like bitcoin has become kind of trendy these days, more and more people are transacting. And because of the nature of bitcoin, one has to put a larger transaction fee in order for the tx to be processed first before the others.
justdimin
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May 06, 2017, 04:49:48 PM
 #3436

Credit card is created for convenience but due to some hacking reports it will cause panic to the people because they feel they are risking their reputation and credit line when hack. Well, in reality paper money is more demand than online transactions because those who transact online also uses paper money and as long as there are people in this world who are left behind, paper money will always remain.
Yes exactly it has started that the people are using digital money currently as well and also paying the expenses bill while not even getting in hand a single penny. The paper money on the other side is being used for so many years from centuries or may be more so it is not going to disappear that easy and that speedy.

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katrimans
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May 06, 2017, 04:57:24 PM
 #3437

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.
Yeah both have the potential to disappear but the digital currency is a bit more vulnerable as compare to the paper money, also the paper money can be recovered and has recovered after being robbed at various time by the law enforcement agencies. The digital currency while on the other hand is not that much trust worthy nor have I heard of being recovered by anyone.

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deisik
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May 06, 2017, 05:22:27 PM
 #3438

I think, Paper money will continue​it's role in any economy.
it's unimaginable without paper money, this is the most popular form of money. People feel comfortable to purchase in regular life by spending money. It will be difficult to replace by any other form of currency.
So I believe that, future of Paper money is certainly certain.
I believe so, there is no doubt that paper money is one of the greatest inventions to do a transaction between people easier.
Even gold could be replaced, fiat money has some advantages such as easy to carry on, instant transaction and divided into several values. Digital currency may have chance, but digital has some drawbacks, especially in the security problems.

I wouldn't really worry about security problems since the banks has been there for quite a while now and not much of them has got hacked. In the bitcoin world, you're on your own. Sure you can use an online wallet but you're just as safe as that online wallet is. If you use offline wallet, you're good to go. You have a physical item that you have to keep safe

Banks don't get hacked these days

But this doesn't mean that your funds are safe there since even if they can't get hacked they can still outright turn into scams. And the worst of it is that they can scam on various levels. And if a bank just goes bust on its own and you get your money reimbursed by some deposit insurance agency it is one thing, but when banks officially simply confiscate the money of their clients (see Cyprus haircut), this is a completely different thing. So I wouldn't be too careless and overly hopeful in this respect either

MingLee
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May 06, 2017, 05:44:26 PM
 #3439

Paper money will be replaced, along with technological advances. Bitcoin will emerge as currency of future, everything will be connected with digital money.
Falling for the "Bitcoin will replace everything" meme.
Governments will continue to cement their control over the world's currency systems and will never relinquish their grip on their power unless there is a very radical and fundamental change in the form of government in essentially every country throughout the globe. Money is already mostly digital and will likely remain in the same ratio for a long time to come. Money will become completely digital when governments seek full control over their citizens.
dimiinx
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May 06, 2017, 07:30:08 PM
 #3440

Paper money will still be there for next few years. Although number of its spread has been reduced in some developed countries in the world. But for a less open country in bitcoin will keep paper money.


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