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Author Topic: The future of the paper money  (Read 403997 times)
Japinat
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May 14, 2017, 01:28:12 PM
 #3481

Paper money will remain. Because paper money is guaranteed and protected by government. Especially if paper money will be replaced by bitcoin, difficult to happen. Because not all countries accept bitcoin as a means of payment, especially countries on Asia and Africa.
Only the government can eliminate the circulation of paper money but I doubt if they can do it with the current situation of the world, there are plenty of people who lacks education and they would not easily understand the new technology as they are primarily focus on working of their basic needs.

These people will prefer to use a simple way in transaction and something that they are used to, that is paper money and the government cannot sacrifice this group of people just to change the current system and adopt with the new technology.

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May 14, 2017, 02:22:08 PM
 #3482

Paper money will remain. Because paper money is guaranteed and protected by government. Especially if paper money will be replaced by bitcoin, difficult to happen. Because not all countries accept bitcoin as a means of payment, especially countries on Asia and Africa.
Only the government can eliminate the circulation of paper money but I doubt if they can do it with the current situation of the world, there are plenty of people who lacks education and they would not easily understand the new technology as they are primarily focus on working of their basic needs.

These people will prefer to use a simple way in transaction and something that they are used to, that is paper money and the government cannot sacrifice this group of people just to change the current system and adopt with the new technology.

Education is not a problem here. There are a lot of old people where I live, that I think does not have any bank account. Their reitrement goes to the post office. The post office has the role of a bank. Well... almost. But if need comes the third party can do everything on the part of the uneducated people.

If Government will have a good PR and present the paper money as a crime based money, it is as good as dead. With the proper scare mongering, people will even thank them for being the good law enforcer, that put a good fight with the criminals.


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May 14, 2017, 02:44:39 PM
 #3483

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.
Yes exactly. The BTC have limited users and even in the next decade it can’t be stated that due to the use of the BTC the paper money will get affected and the circulation of paper money will be reduced. It will surely reduce but not to that extent that it can be very visible. There are many people who prefer the cash and term it as the real currency.

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May 14, 2017, 03:09:51 PM
 #3484

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.
Yes exactly. The BTC have limited users and even in the next decade it can’t be stated that due to the use of the BTC the paper money will get affected and the circulation of paper money will be reduced. It will surely reduce but not to that extent that it can be very visible. There are many people who prefer the cash and term it as the real currency.
It won't be reduced as it will be the same. You know why? Because Bitcoin and any other cryptocurrencies' price is is based on Fiat Currency. Which means without Fiat Bitcoin won't have any value to us people. Also another point is almost all investors are buying Bitcoin because they want to earn more money because of its growth and what I mean about money is Fiat currency.

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May 14, 2017, 03:16:41 PM
 #3485

I think the future of paper money were no change, because if this paper currency were left in the market they had a possibility that rotation of the money in the market were not become balance. Also, if the digital currency were known as primary currency they had a tendency that paper currency were die and dissolve in the industry.

But still it is very possible that paper money would be replaced by digital currency. Digital currency has a lot of advantage plus it can reduce the consumption of producing papers. It helps the environment plus it cant be steal easily when you someone stole your wallet to you. you can easily claim it with other devices and lock down the wallet you are using.

It is possible, since we are going to digital age, even some government are practicing a cashless society.  Once they see that cashless system is beneficial then we can say goodbye to paper money, and/or if blockchain technology is implemented in every country then paper money will become obsolete.

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May 14, 2017, 03:31:00 PM
 #3486

In my opinion, the future of bitcoin will last longer. Because it has already established a strong influence of holding or keeping it. I don't think that there's no scope of replacement by virtual or any form of money.
So I don't have any questions about the future of paper money.

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May 14, 2017, 05:15:34 PM
 #3487

I think the future of paper money will not face any enormous amount of challenge,  since paper money has been used as a most popular form of money so it'll last year after year.
It's very difficult to replace by another form of money.

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May 14, 2017, 05:20:31 PM
 #3488

Sure a lot of us wants a paperless transaction. Not just by receipt but also by our means of our payment.
There are countries with a lot of pick pockets and you can avoid a thief with a credit card or now there is this crypto thing where it could be at your cellphone or your laptop.
Paypal is one where you could use to shop online. Add this new one the bitcoin where you could also buy online with a few of the stores that are accepting it.
Paper money will be there but I guess there will be less people that will use it as a means of payment in the near future.

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May 15, 2017, 08:52:45 AM
 #3489

I think the future of paper money will not face any enormous amount of challenge,  since paper money has been used as a most popular form of money so it'll last year after year.
It's very difficult to replace by another form of money.
Agree with this, paper money was still available to used in the future and the value will remains the same and it will base on the economy of one country.
Other currency launch and it will only be an option by the people if they used it or be loyal in traditional currency in each country.
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May 15, 2017, 08:56:26 AM
 #3490

I think the future of paper money will not face any enormous amount of challenge,  since paper money has been used as a most popular form of money so it'll last year after year.
It's very difficult to replace by another form of money.
Agree with this, paper money was still available to used in the future and the value will remains the same and it will base on the economy of one country.
Other currency launch and it will only be an option by the people if they used it or be loyal in traditional currency in each country.

The users of paper money are higher in compare to bitcoins and even in future we can expect the same scenario where people would prefer to use paper money over bitcoins as some people may find using bitcoin complicated and will stick to traditional way of spending money.

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May 15, 2017, 09:07:57 AM
 #3491

I do not think there is a future of paper money. Paper money will have been totally diminished.

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May 15, 2017, 12:05:21 PM
 #3492

I do not think there is a future of paper money. Paper money will have been totally diminished.
It will be but it takes time to make it happen, I do not know when but the new technology cannot be easily instill to the minds of the people and we cannot convince them to learn how to use digital currencies since most of them lack education that is required to easily comprehend things.

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Theb
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May 15, 2017, 12:10:11 PM
 #3493

I do not think there is a future of paper money. Paper money will have been totally diminished.
It will be but it takes time to make it happen, I do not know when but the new technology cannot be easily instill to the minds of the people and we cannot convince them to learn how to use digital currencies since most of them lack education that is required to easily comprehend things.
What is your source with that? Are there any related news that all of the governments in the country are planning to abolish their own wealth? Or even a country trying to do something like that? Claims without facts are pure speculations just like what you did because right now all countries depend on their fiat currency to survive.

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May 15, 2017, 12:34:34 PM
 #3494

I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.

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May 17, 2017, 12:36:10 PM
 #3495

I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.

exactly. although these digital currencies would make life a lot easier for us, there's no denying the need for a physical currency in our everyday expenses. and accessibility to the internet is not enjoyed by everyone so this would be a big challenge for non fiat currencies to topple.

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May 17, 2017, 12:52:48 PM
 #3496

I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.
Indeed, though digital currency is easy to use and more convinient still we can't guarantee that internet will last forever. I guess paper will not vanish because we are accoustomed to use it as mode payment. It is much better if we have two way of payment.

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May 17, 2017, 12:56:32 PM
 #3497

I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.
Indeed, though digital currency is easy to use and more convinient still we can't guarantee that internet will last forever. I guess paper will not vanish because we are accoustomed to use it as mode payment. It is much better if we have two way of payment.

Yes, there must always be options for the possibility of performing financial transactions. Thus, paper and electronic money will exist forever.

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May 17, 2017, 01:20:08 PM
 #3498

Paper money has been around for over a hundred years. There is nothing wring with the concept of paper money. What is wrong is the people who got greedy behind it. The concept is good and more convenient in transactions especially a fast pace transactions in personal. Bitcoin or cryptocurrencies are good concept but it is in the future. Not all people can't afford the medium behind bitcoins transactions. Fiat will last for at least 80 years.

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May 17, 2017, 01:59:02 PM
 #3499

Paper money is going to be around for still a long time because it is just to much of a problem to get rid of it. It would be a whole process to go and only count digital money.
It would also be different per country I think.
yeah every country has a different time period may be for the USA who already advanced. they would sooner leave paper money and switch to digital money faster than other countries ?
I don't think so, but USA is a country who used dollar, even they know the bitcoin but dollar is a part of their society. The dollar is big source of income of USA and the world is based on the dollar currency.
Even the others, the prepared money is the cash because you can handle every where unlike bitcoin that need to use an internet before they proceed to process.

in Business topic I think this will be the most demand currency especially in the investor.
 

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May 17, 2017, 04:40:05 PM
 #3500

Paper money will exist in the near future. Look at the most technologically advanced countries (Singapore, Japan.etc). The usage of paper money is almost the same as that in the developing nations.

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