The future of the paper money

[Vikingr]

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.

Yes paper money is in work from centuries but still if bitcoin will establish then it will make the future of paper money as dull and people may shift to bitcoin just like the gold when people were using gold for purchases and when paper money came people started to use paper money and left gold for purchases now it seems something came to replaces paper money.

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[Samadur]

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.

Yes paper money is in work from centuries but still if bitcoin will establish then it will make the future of paper money as dull and people may shift to bitcoin just like the gold when people were using gold for purchases and when paper money came people started to use paper money and left gold for purchases now it seems something came to replaces paper money.

I do not know how it's after all. Everything will be about paper money in the future, Well, you know, but I know that they will still exist. Now they do not pay me a salary, I'm quite happy, and even more so, even Bitcoin I change for the same paper money for everyday life.

[ForeverFener]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

[Sled]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

That is right that the paper currency or the fiat will be just reduced in terms of users because a lot of people now are into digital currencies because they can have currency which is fast,secure and fiat and also investment at the same time because they can earn money with the digital currencies in just a matter of time.

[coynedterm]

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?

I also thinks that paper Money should be banned entirely , it is because no trace are available for those money after the transaction succesfully .
Here not only this reason of annynimous but here the main reason for the legalisation of the bitcoin like things .
Few of the countries banned the bitcoin but few of the developed countries are making bitcoin legal ,but here for the countries like India which don't want black money place in the country  and also want to legal bitcoin then Ofcourse such things of paper wallet like things should be control by the network of the cryptocurrency ( whether is bitcoin or any other altcoins) .

[Bedebah]

It cannot be denied that the raw material from paper that increasingly rare of trees, paper money surely can making damage the environment. Currently all countries trying digital money so that future of paper money will disappear (maybe 50 years again).

[AjithBtc]

Paper money will always be there, however there are several innovation in the digitalization of currency or the financial system. For everything paper money is the base following which based on the fast moving world requirement we have innovated several advancement. But without paper currency this won't be perfect.

[Botnake]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

What is your basis to say that it will be reduce? bitcoin users is not that big that will affect the circulation of paper money,
the future could be digital but paper money circulation is still bigger compared to digital currencies including crypto currencies.

[deisik]

Interesting... this thread was started in 2015, 2 years ago.... are we any closer to paper money going out of circulation?  I think not!  People still buy physical books, some prefer hard copies.  There is something about actually touching and holding physical things compared to everything being digital/virtual... we are physical beings after all!  I think there is room for both virtual and paper money in the future....

Some (like Raymond Kurzweil) are claiming that we will soon cease being physical beings altogether

Your point about touching and holding something physical makes sense in respect to things which are not of just a utilitarian value for you. For example, a rare paper bill can be of high value to a numismatist, but for other people to which money (paper money) is purely utilitarian, it is of no particular value on its own. So if they feel that using digital money in the form of payment cards and online payments is more handy and convenient to them, they will certainly prefer digital money over paper bills

It cannot be denied that the raw material from paper that increasingly rare of trees, paper money surely can making damage the environment. Currently all countries trying digital money so that future of paper money will disappear (maybe 50 years again).

Today's paper money is typically made from cotton and linen (these papers are more resilient and durable overall). So no tree has been hurt in the making of this paper bill

[Bitmedrano040117]

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.

For now most government of the countries all over the world are not really interested into bitcoin, but once they saw that people around the world massively shifting into bitcoin whether they like or not they will still accept the fact, to accept bitcoin too. moreover, paper money in a long run will disappear once bitcoin declare as world currency.

[dasana212]

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.

For now most government of the countries all over the world are not really interested into bitcoin, but once they saw that people around the world massively shifting into bitcoin whether they like or not they will still accept the fact, to accept bitcoin too. moreover, paper money in a long run will disappear once bitcoin declare as world currency.

As times progressed. Paper money will definitely be replaced by a new form doesn't rule out the possibility will be inaugurated the use of digital money. Central bank will continue to innovate.

[natalieporter]

I think one day, in the future, paper money will lose their place in our daily life. But instead, the digital currencies and digital platform will dominate. Furthermore, with the increasing, at a rapid pace, of m-commerce nowadays, I think people will prefer mobile wallet. I have studied pretty much and then I have found this article. It talks about the popular mobile wallets nowadays.
You guys can learn more here: Progressive Web Apps by SimiCart
Hope it gives you guys the useful information. The above is just my opinion.

[gabmen]

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.

For now most government of the countries all over the world are not really interested into bitcoin, but once they saw that people around the world massively shifting into bitcoin whether they like or not they will still accept the fact, to accept bitcoin too. moreover, paper money in a long run will disappear once bitcoin declare as world currency.

As times progressed. Paper money will definitely be replaced by a new form doesn't rule out the possibility will be inaugurated the use of digital money. Central bank will continue to innovate.

you may be right, though I think paper money won't entirely be ruled out of the picture even after 20years. of course with the advancement of technology, it would be inevitable that digital currency would someday be a major form of doing things but paper money would still be around for those who doesn't have access to newer technology

[iyan33]

I think paper money will remain the main currency because it has legality and unconditional in the transaction

[meliodas]

Well paper money will continue to live despit the rise of the digital currency since not all are computer-literate nor companies pay in Bitcpin due to the fluctuating price or its unstableness.

[dasana212]

Well paper money will continue to live despit the rise of the digital currency since not all are computer-literate nor companies pay in Bitcpin due to the fluctuating price or its unstableness.

Paper money slowly will be eroded and reduced its use by technological advances. Central bank will replace it into another form, which the community needs in financial activities is a tool or something that's easy to use in transacting.

[suryana]

Well paper money will continue to live despit the rise of the digital currency since not all are computer-literate nor companies pay in Bitcpin due to the fluctuating price or its unstableness.

Paper money slowly will be eroded and reduced its use by technological advances. Central bank will replace it into another form, which the community needs in financial activities is a tool or something that's easy to use in transacting.

Agree with your opinion. Paper money will be lost in future and replaced with 'money' which's more practical and easy to use anywhere. Bitcoin has all advantages over paper money.

[just_Alice]

Well paper money will continue to live despit the rise of the digital currency since not all are computer-literate nor companies pay in Bitcpin due to the fluctuating price or its unstableness.

Paper money slowly will be eroded and reduced its use by technological advances. Central bank will replace it into another form, which the community needs in financial activities is a tool or something that's easy to use in transacting.

Agree with your opinion. Paper money will be lost in future and replaced with 'money' which's more practical and easy to use anywhere. Bitcoin has all advantages over paper money.

If you are talking about far future then I agree, but I'm pretty sure  that during our lifetime paper money will not be entirely replaced by cryptos. We are still too far from the point when all the people in the world can have an internet access, and without that they can't use cryptos.

[Rostadom]

Well paper money will continue to live despit the rise of the digital currency since not all are computer-literate nor companies pay in Bitcpin due to the fluctuating price or its unstableness.

Supposed that all computer literate people are using bitcoins, then that's already the majority of the population. When a good percentage of the population is already using bitcoins, other people will quickly also start using it since the growth is exponential. Just think of it as a virus/flu that everyone can be infected and it's inevitably spreading around the world.

Those that are not computer literate will start familiarizing the computer since they would have to adapt to their environment. It's only human nature to do so.

I also don't think that it's people being not-so computer literate that makes them use fiat instead. It's the fact that most haven't even heard of bitcoins yet or are too busy doing other things to learn about this amazing monetary concept.

[sana54210]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

That is right that the paper currency or the fiat will be just reduced in terms of users because a lot of people now are into digital currencies because they can have currency which is fast,secure and fiat and also investment at the same time because they can earn money with the digital currencies in just a matter of time.

It can happen in countries like America and the rest of the developed countries but in the third world countries such as Africa and a large region of Asian countries the fiat is not going to be reduced of the its use cannot be reduced because of the uneducated people to the technology.

As the BTC is a technological revolution, it could be used only where people prefer to use the technology.