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Author Topic: The future of the paper money  (Read 403649 times)
MMA
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May 06, 2017, 08:07:50 PM
 #3441

It looks like paper money will decrease in the future. Financial institutions also continue to innovate to facilitate the public in the use of payment instruments, credit card is proven. Something that was once rejected by financial institutions.

In highly developed countries, the amount of paper money can really decrease, if there is no collapse and there will be the development of electronic payments.
yes no doubt that its use can be decreases but i think we cannot quit if for ever. even in highly developed countries people will always be using proper money. may be their first priority will be change to to bitcoin but they will also fiat in different places. for example in my country very little people have the ability to use bitcoin most of the people even do not know how to use it, therefore the are still using fiat for completing their needs.

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May 06, 2017, 08:20:53 PM
 #3442

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.

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May 06, 2017, 08:53:48 PM
 #3443

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

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May 07, 2017, 06:32:04 AM
 #3444

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May 09, 2017, 09:37:31 AM
 #3445

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

It is reality, in real life people prefer to use real money and paper money is real.
But about digital currency, i know only few people know about it, and a huge people don't know and if they know about digital currencies than they don't know how to use it correctly.


 

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May 09, 2017, 07:07:32 PM
 #3446

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

It is reality, in real life people prefer to use real money and paper money is real.
But about digital currency, i know only few people know about it, and a huge people don't know and if they know about digital currencies than they don't know how to use it correctly.


 

Even paper money/local money can be used digitally, and it is also real.
Now if you are speaking about Bitcoin as digital currency, then more than just not knowing about it, many doesn't uses it due to insecurity and fear and also lack of transacting opportunities against goods or services.
But ya I agree still now IMO very limited people know or cares to know about this.

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May 09, 2017, 07:16:52 PM
 #3447

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....
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May 09, 2017, 07:17:12 PM
 #3448

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

It is reality, in real life people prefer to use real money and paper money is real.
But about digital currency, i know only few people know about it, and a huge people don't know and if they know about digital currencies than they don't know how to use it correctly.


 

Even paper money/local money can be used digitally, and it is also real.
Now if you are speaking about Bitcoin as digital currency, then more than just not knowing about it, many doesn't uses it due to insecurity and fear and also lack of transacting opportunities against goods or services.
But ya I agree still now IMO very limited people know or cares to know about this.
And what do you think people should still know? You understand that in order to use Bitcoin you need to have certain knowledge. Moreover, constant access to the Internet, and for a common person this is not all there is to it, therefore, his choice is for paper money and not for crypto currency.
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May 09, 2017, 07:21:34 PM
 #3449

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

It is reality, in real life people prefer to use real money and paper money is real.
But about digital currency, i know only few people know about it, and a huge people don't know and if they know about digital currencies than they don't know how to use it correctly.


 

Even paper money/local money can be used digitally, and it is also real.
Now if you are speaking about Bitcoin as digital currency, then more than just not knowing about it, many doesn't uses it due to insecurity and fear and also lack of transacting opportunities against goods or services.
But ya I agree still now IMO very limited people know or cares to know about this.

I believe paper money is destined to be flashed out.  If ever government does not acceept cryptocurrency then, they can always  make use of the cashless society system where people does no longer need fiat paper money.


     
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May 09, 2017, 07:31:36 PM
 #3450

I think paper money was still used by each nation because people used it as exchanged of any items or good s but, when digital currency like Bitcoin were become the no. 1 currency I don't think so if paper money were still existing.
Yeah your right, I was expecting that paper money was not fade in the market, due to paper money were symbolize the different value of money from different countries. Moreover digital currency were still not know of more people.

It is reality, in real life people prefer to use real money and paper money is real.
But about digital currency, i know only few people know about it, and a huge people don't know and if they know about digital currencies than they don't know how to use it correctly.


 

Even paper money/local money can be used digitally, and it is also real.
Now if you are speaking about Bitcoin as digital currency, then more than just not knowing about it, many doesn't uses it due to insecurity and fear and also lack of transacting opportunities against goods or services.
But ya I agree still now IMO very limited people know or cares to know about this.

I believe paper money is destined to be flashed out.  If ever government does not acceept cryptocurrency then, they can always  make use of the cashless society system where people does no longer need fiat paper money.

I agree with your point actually.  I do believe paper currency will eventually be phased out.  There are many countries across the world at the moment which operates so called 'cashless economy', driving high percentages of transactions towards electronic/online payment solutions.  Bitcoin/cryptocurrencies i believe have a gap in that particular space to compete or at least operate as a widely acceptable alternative to existing electronic currencies.

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May 09, 2017, 07:36:55 PM
 #3451

I'm sure that paper money has no future. Soon all will move to electronic invoicing. Now you can use your smartphone as a personal wallet. But I am afraid that people will make chipping. It will be convenient, but it will be the end of our privacy.
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May 09, 2017, 07:39:55 PM
 #3452

I'm sure that paper money has no future. Soon all will move to electronic invoicing. Now you can use your smartphone as a personal wallet. But I am afraid that people will make chipping. It will be convenient, but it will be the end of our privacy.

Government will make changes to paper money, which may be eliminated and replaced by a digital system, because technology is created to make it easier for us in life. So also with finance, bitcoin a great innovation to be adopted by government.


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May 09, 2017, 08:10:54 PM
 #3453

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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May 09, 2017, 08:15:17 PM
 #3454

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.
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May 09, 2017, 10:21:03 PM
 #3455

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.  Cool

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May 10, 2017, 04:15:12 AM
 #3456

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.  Cool
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.

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May 10, 2017, 04:39:12 AM
 #3457

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) .


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May 10, 2017, 04:39:32 AM
 #3458

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).
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May 10, 2017, 04:56:57 AM
 #3459

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.



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May 10, 2017, 06:01:51 AM
 #3460

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.  Cool
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.



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