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Author Topic: The future of the paper money  (Read 414692 times)
deisik
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May 20, 2017, 03:19:08 PM
 #3541

Paper money's future still be the same only that it will be lessen in usage due to bitcoin digital currency is the mostly used currency in the future years to come. Hopefully this will be happening so that bitcoin price will be more stable in the marketplace just like the fiat money currency money. Bitcoin that time wil be the most profitable investment to have amd paper money will be reduced in spending and exchanges but it will not vanish in banking because offline using still remains like in local wet markets and those who doesn't knew how to use the digital world of internet transactions, because bitcoin needs to be accessed through online network.

Bitcoin isn't going to affect physical currency much. The ratio of people using Bitcoin to conduct commerce vs. using it to gamble, either by buying speculatively or using it to skirt casino or sport book restrictions, is extremely small. The thing that is going to diminish physical fiat's use is digital fiat. Most transactions are already digital, and easier than blockchain technology

Well, now I seem to understand the difference between your reasoning and mine

In short, you don't look deeper besides what's on the surface taking into account only direct effects, and thus jump to premature conclusions. This post of yours is a perfect example of that. You basically state that Bitcoin cannot affect fiat since the former is not used in conducting commerce (i.e. Bitcoin is not used as a currency). This point itself can hardly be challenged since it is a fact of life (with which I totally agree, just in case). But this is not the only route via which Bitcoin can and does in fact affect fiat (physical or digital). You forget that fiat itself is not only about commerce and being a currency. It is also a speculative asset on its own and a store of value (another fact of life), and this is exactly where Bitcoin hits hardest. But since fiat here and fiat there it is still the same fiat (both physical and digital), Bitcoin necessarily affects them both even if indirectly and even if Bitcoin itself is not used to conduct real business as you state

There you go again claiming someone who doesn't see something the same as you has a malinformed opinion. Just try sticking to your ideas and don't pretend you have a grand insight into other's minds, because some of your ideas are quite uninformed. Claiming that the USD is a speculative asset is ridiculous

You seem to be more and more detached from reality

Any fiat currency is a speculative asset by definition. I guess George Soros would be greatly surprised to hear that claim after he (with a tightly knit group of speculators) had basically put the Bank of England to its knees when he shorted the British pound and earned 1B dollars within a single day. Yeah, I know that GBP is not USD, but I guess you won't start claiming the US dollar is somehow different in this regard. I guess you are the only one here who is "quite uninformed". You may want to learn more about currency carry-trade in particular and Forex in general

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May 20, 2017, 09:15:02 PM
 #3542

The use of paper many is decreasing day by day with the use of credit card, debit card and also internet payment systems. But now there is also crypto money which will be the future of paper money. But i think paper money will existe for a long time. Even to buy bitcoin we need paper money, to pay our credit card debt we need paper money. I am sure one day we will not use paper money. But i am not sure i will live enough to see these days.

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May 21, 2017, 03:06:33 AM
 #3543

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.
Yeah if the internet is dead of course that can be used is paper money. But you know that the internet will never die. The internet will always be present to be a new need for human beings.

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May 21, 2017, 03:26:32 AM
 #3544

In my opinion paper money is going to be there for a very long time, there is no way countries will abandon their national currency for a crypto currency, in the best case scenario they will use it alongside their main currency.
Paper money will definitely last for a long time. But for the future of paper money myself I'm sure that paper money will be abandoned someday. And replaced with something new

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May 21, 2017, 04:11:08 AM
 #3545

In my opinion paper money is going to be there for a very long time, there is no way countries will abandon their national currency for a crypto currency, in the best case scenario they will use it alongside their main currency.
Paper money will definitely last for a long time. But for the future of paper money myself I'm sure that paper money will be abandoned someday. And replaced with something new

Paper money will not be abandoned because it is one of the foundation of the world why the economy is keep growing if there is no paper money then there is no future ahead of us and just a worst dark future. The paper money will stay and it will have additional financial system that will help to make it more efficient like bitcoin.

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May 21, 2017, 09:07:26 AM
 #3546

paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.
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May 21, 2017, 11:54:26 AM
 #3547

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.
Yeah if the internet is dead of course that can be used is paper money. But you know that the internet will never die. The internet will always be present to be a new need for human beings.


until there is universal internet/wifi and power everywhere, paper money is here to stay. still lots of areas with no internet or 24/7 power.

no skill needed to use paper money, no hardware to buy and learn to use, no confirmation time, works everywhere.
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May 21, 2017, 08:27:57 PM
 #3548

paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.

paper money used on the past and until know because we know that this was issued by the governent, they are forcing us to use this as the trading mark or the value that your wealth will be. By the time cryptocurrency evades every nations, there would be decentralized moneytization and government cant stop it.

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May 21, 2017, 09:37:16 PM
 #3549

paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.

paper money used on the past and until know because we know that this was issued by the governent, they are forcing us to use this as the trading mark or the value that your wealth will be. By the time cryptocurrency evades every nations, there would be decentralized moneytization and government cant stop it.

As mentioned two posts before, as long as the technical requirements won't be available everywhere, cryptos won't be a real competitor to paper money. It could be a competitor to bank card payments or to online virtual bank card payments or to fintech payment processor apps, but paper money doesn't need anything technical so it's like comparing apples and oranges.
In connection with governments, I don't know if there's anybody in North-Korea who can use bitcoin, so governments can stop it if they really want, but fortunately most countries' governments are not as strict as the mentioned country's.

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May 21, 2017, 10:20:04 PM
 #3550

Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

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Janation
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May 21, 2017, 10:25:53 PM
 #3551

Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

That is a bit harsh, we need it for the less fortunate people? there are a lot of computer illiterate in the world, do you think that will stop them using such currency? And, why will they need to use a computer by the way if they can use it or either withdraw it in a bank or ATM machine. I think you are being ignorant on other people what might do, and the future of the paper money might be vague, but we all know that paper money will stay as it is. Bitcoin might not be a good currency if it's price continue to increase, it will be just an asset for investors, if you think of it, most people look at it, as an asset, not a currency.

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May 21, 2017, 11:58:57 PM
 #3552

Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

That is a bit harsh, we need it for the less fortunate people? there are a lot of computer illiterate in the world, do you think that will stop them using such currency? And, why will they need to use a computer by the way if they can use it or either withdraw it in a bank or ATM machine. I think you are being ignorant on other people what might do, and the future of the paper money might be vague, but we all know that paper money will stay as it is. Bitcoin might not be a good currency if it's price continue to increase, it will be just an asset for investors, if you think of it, most people look at it, as an asset, not a currency.
I don't think the price itself is a gauge why this is a good currency, it is good because it benefited us to transact fast and easy.
While there are people who are still using paper money, we cannot eliminate it in the circulation because the government will
have to consider the majority and the less fortunate people, and correction, even rich people uses paper money.

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May 22, 2017, 01:08:40 AM
 #3553

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes it will still remain because its a global currency that almost all the country used. Paper money has a big role in this world. I think bitcoin will not replace it because some government didn't accept other type of money especially if its by technology.

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May 22, 2017, 01:34:06 AM
 #3554

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes it will still remain because its a global currency that almost all the country used. Paper money has a big role in this world. I think bitcoin will not replace it because some government didn't accept other type of money especially if its by technology.
Bitcoin will gain massive adoption and yet paper money are still in circulation, people will choose a lot of alternatives than just use one currency which is bitcoin only, if diversifying is the key of investors, people are also thinking of the possible risk.

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May 22, 2017, 02:31:29 AM
 #3555

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes it will still remain because its a global currency that almost all the country used. Paper money has a big role in this world. I think bitcoin will not replace it because some government didn't accept other type of money especially if its by technology.
Bitcoin will gain massive adoption and yet paper money are still in circulation, people will choose a lot of alternatives than just use one currency which is bitcoin only, if diversifying is the key of investors, people are also thinking of the possible risk.
I'm also thinking about that, people now a days are finding best alternative that will make their tasks easier and it is by the use of bitcoin because now bitcoin can be used to pay bills like electricity, water, internet and so on. It is a very helpful currency and also an investment at the same time which is perfect combination. I think after at least 10 years, people will use bitcoin more than the fiat.

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May 22, 2017, 05:20:45 AM
 #3556

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes it will still remain because its a global currency that almost all the country used. Paper money has a big role in this world. I think bitcoin will not replace it because some government didn't accept other type of money especially if its by technology.
Bitcoin will gain massive adoption and yet paper money are still in circulation, people will choose a lot of alternatives than just use one currency which is bitcoin only, if diversifying is the key of investors, people are also thinking of the possible risk.
I'm also thinking about that, people now a days are finding best alternative that will make their tasks easier and it is by the use of bitcoin because now bitcoin can be used to pay bills like electricity, water, internet and so on. It is a very helpful currency and also an investment at the same time which is perfect combination. I think after at least 10 years, people will use bitcoin more than the fiat.
I just do not understand how it can change the world to lose paper money. I know that it is very convenient for me and the millions of billions of people comfortable with me and therefore to abandon them. It seems to me to be stupidity.

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May 22, 2017, 08:49:36 AM
 #3557

the future of paper money, maybe just change in appearance but same rectangular form with faces of dead leaders and numbers. One thing that im very sure of a massive inflation nation by nation that will make higher notes worthless.

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gabmen
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May 22, 2017, 11:24:14 AM
 #3558

the future of paper money, maybe just change in appearance but same rectangular form with faces of dead leaders and numbers. One thing that im very sure of a massive inflation nation by nation that will make higher notes worthless.

possible yes thoughif there would be changes it may not be an immediate change but gradual. people would have a hard time coping up with immediate changes especially with the financial market si its possible that what you say may be true but it will come in a long process

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May 23, 2017, 01:21:06 PM
 #3559

Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

That is a bit harsh, we need it for the less fortunate people? there are a lot of computer illiterate in the world, do you think that will stop them using such currency? And, why will they need to use a computer by the way if they can use it or either withdraw it in a bank or ATM machine. I think you are being ignorant on other people what might do, and the future of the paper money might be vague, but we all know that paper money will stay as it is. Bitcoin might not be a good currency if it's price continue to increase, it will be just an asset for investors, if you think of it, most people look at it, as an asset, not a currency.

Strongly yes? Look up digital divide and you'd know that these people are in no way going to use bitcoins unless they stop being computer illiterate. How are they going to use bitcoins without being computer literate first? Yep, you can convert your bitcoins to digital fiat and then cash it out using ATMs but what is he even going to cash out?

If the price of bitcoin continue to rise, then the people like us will be swimming in money while other people will try to follow what we've done. We diversified our investments so here we are, we now have a good asset. People look at bitcoins as an asset, but isn't fiat basically the same thing? People also invested in fiat so the value of your fiat was made.

When fiat gets out of the scene, bitcoin will finally be used as a currency. It's the point of bitcoin after all. It can stand alone and it can replace all these biased monetary system.

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May 23, 2017, 01:26:12 PM
 #3560

Other thinks that paper money will be disappear soon but others paper money will helps a lot of our economics maybe it will change the appearance of the interface of money year by year but it will never be died or else disappear.



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