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Author Topic: The future of the paper money  (Read 404049 times)
pitiflin
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June 03, 2017, 08:08:30 PM
 #3641

I don't think that bitcoin will replace paper currency in the near future and the situations that will rise even if it does will be terrible.
Bitcoin has many issues that it has to solve and if bitcoin replaces paper currency and paper currency gets banned in a few years,I guess then the whole world economy will fail if not dealt properly.

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June 04, 2017, 07:23:03 AM
 #3642

Paper money will still exist, although maybe the value of transactions that happened not as much as a few years ago, the more progressive world where people continue to innovate to create things faster, practical and mobile. Bitcoin is another option as a means of payment. Paper money, credit cards and bitcoins are what i have today for my use in transactions.


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June 04, 2017, 08:01:57 AM
 #3643

Paper money will still exist, although maybe the value of transactions that happened not as much as a few years ago, the more progressive world where people continue to innovate to create things faster, practical and mobile. Bitcoin is another option as a means of payment. Paper money, credit cards and bitcoins are what i have today for my use in transactions.
The fact is that the very meaning of paper money can soon be a thing of the past, But with it humanity will not stop using Fiat and all because in this I will be helped by credit cards and other cards of banking institutions.

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June 04, 2017, 08:31:55 AM
 #3644

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers

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June 04, 2017, 08:35:01 AM
 #3645

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers
Agree with you mate that paper money will not be replaced by digital currency because not all people can access this crypto currency and we can not used this like a fiat that anywhere and anytime we can buy anything we want.
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June 04, 2017, 08:38:06 AM
 #3646

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers

I second this. Also, when I think about if paper money can be removed completely, many issues come up, like how do you leave a tip, or in many places, paper money is given as a gift, or as a feeling of gratitude. So, may be it will be possible to limit the amount of paper money to very less, and leave large transactions to digital.

The biggest problems with paper money is it's untraceable and unaccountable. So, once it's printed, you have no way to know where it went, leading to a black economy and corruption. So, if it's circulation is discouraged, and some incentives given for digital transactions, then it could be possible to limit the amount of paper money.

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June 04, 2017, 09:14:35 AM
 #3647

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers
Agree with you mate that paper money will not be replaced by digital currency because not all people can access this crypto currency and we can not used this like a fiat that anywhere and anytime we can buy anything we want.

Yeah and considering that we are currently in a time when there is always a threat of war and terror, it's hard to imagine digital currencies thriving under such circumstances by itself. We will always look to paper money for basic transactions

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June 04, 2017, 09:26:39 AM
 #3648

A must read for everyone into the blockchain space: http://startupmanagement.org/2015/02/07/the-bitcoin-startup-ecosystem-is-frail-beware-of-the-next-crash/

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June 04, 2017, 11:07:54 AM
 #3649

The future of paper money was still continue, because even digital currency were famous I think paper money was not delete in the people due to most of them were use it daily as exchange of any item that they want to have

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June 04, 2017, 11:41:13 AM
 #3650

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?

Paper money would still exist longer.Most people in the world still don't know about digital transactions and they believe that paper money is the real money which they could feel in their hands.It will take much time for them to change to digital transactions.



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June 04, 2017, 11:43:44 AM
 #3651

The future of paper money was still continue, because even digital currency were famous I think paper money was not delete in the people due to most of them were use it daily as exchange of any item that they want to have
- Yes, paper money will continue to exist because it has become the tradition and habit of people all over the world, they will never remove it from their lives. In the future, I think the amount of paper money will decrease because modern technology will grow and digital money will be used more widely but it also will not be able to make paper money disappear. However, this will be a very distant future because digital money has not yet been accepted and it does not create trust for users

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June 04, 2017, 11:51:06 AM
 #3652

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.

Ignoring Bitcoin and crypto, paper money should have been gone long ago.  Bank debit cards were the first step and then companies and services like Paypal, Apple and Google were the next.  Here in the USA, even those in the lowest income brackets receive their government help through a card and not check or cash.  

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June 04, 2017, 12:05:30 PM
 #3653

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?

Paper money would still exist longer.Most people in the world still don't know about digital transactions and they believe that paper money is the real money which they could feel in their hands.It will take much time for them to change to digital transactions.
yes paper money is not going to vanish to early, i think it will take a lot of time, in fact there are a lot of reasons for that . the main reason is that most of the people are still depending on it. it will also depend on the government support. government is supporting fiat currency and therefore fiat has to remain in action until all the people world start using bitcoin and give less preference to fiat currency.

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June 04, 2017, 12:05:44 PM
 #3654

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers
Agree with you mate that paper money will not be replaced by digital currency because not all people can access this crypto currency and we can not used this like a fiat that anywhere and anytime we can buy anything we want.

Yeah and considering that we are currently in a time when there is always a threat of war and terror, it's hard to imagine digital currencies thriving under such circumstances by itself. We will always look to paper money for basic transactions

Truly. Let's just say we will have currencies which differs from digital (cyber) and real world. So for you to interact and do some transactions in the cyber world you will need its own digital currency and the best cryptocurrency currently is bitcoin while in the real world you need to use fiat to do some basic transactions. The point is cryptocurrency and fiat has its own field to shine so no need to make the other replaced or disappear if they can coexist together.

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June 04, 2017, 01:06:47 PM
 #3655

I think the paper money in the future will replace, this is because the State will use digital money, fundamental things that must be resolved is the paper money of the crime-prone and could not be controlled.
No. Paper money will still exist along with cryptocurrency because people still need paper money to use for many small purposes in the real life. And we still need someone to control the money so that they can authorized the transaction and avoid scammers
Agree with you mate that paper money will not be replaced by digital currency because not all people can access this crypto currency and we can not used this like a fiat that anywhere and anytime we can buy anything we want.

Yeah and considering that we are currently in a time when there is always a threat of war and terror, it's hard to imagine digital currencies thriving under such circumstances by itself. We will always look to paper money for basic transactions

Truly. Let's just say we will have currencies which differs from digital (cyber) and real world. So for you to interact and do some transactions in the cyber world you will need its own digital currency and the best cryptocurrency currently is bitcoin while in the real world you need to use fiat to do some basic transactions. The point is cryptocurrency and fiat has its own field to shine so no need to make the other replaced or disappear if they can coexist together.

I think that once everyone has a smartphone in their hands it will end, whether there is Bitcoin there to help or not.  It is close.  The smartphone can replace paper currency, identification methods and basically everything that someone carries in their wallet, right down to photos


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June 04, 2017, 05:58:06 PM
 #3656

Maybe, someday digital money will be the main, but I think paper money will never be eliminated, because paper money is a currency that is simple and easy to use. I think it's the perfect shape to use in the real world.
There is some dissadvantage of paper money that will makes people think twice to keep using it. First, the endelss printing will make it worthless, second it is easily rip and burn, third exchange money is always needed so it is not so practicall to use.

Concerns about ID security and such really are not taking into account that creating fake physical credit cards, ID's and such is easier than software hacking. 
Paper currency has a short life span.



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June 04, 2017, 07:16:18 PM
 #3657

Maybe, someday digital money will be the main, but I think paper money will never be eliminated, because paper money is a currency that is simple and easy to use. I think it's the perfect shape to use in the real world.
There is some dissadvantage of paper money that will makes people think twice to keep using it. First, the endelss printing will make it worthless, second it is easily rip and burn, third exchange money is always needed so it is not so practicall to use.

Concerns about ID security and such really are not taking into account that creating fake physical credit cards, ID's and such is easier than software hacking. 
Paper currency has a short life span.
For me personally, paper money always liked and I would not refuse to use them further. Although their future is ambiguous and increasingly pay attention to the fact that even the authorities of different countries are beginning to transfer more people to non-cash payment.

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June 04, 2017, 08:18:45 PM
 #3658

For me personally, paper money always liked and I would not refuse to use them further. Although their future is ambiguous and increasingly pay attention to the fact that even the authorities of different countries are beginning to transfer more people to non-cash payment.

Sooner or later people will forget that they ever use paper money. The non cash payment system is the future, with or without bitcoin the bank is going to make non cash payment system into something that the society will use. It might be atleast 20 years from now on but sooner or later it will happen

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June 05, 2017, 06:15:53 AM
 #3659

Paper money is going to keep existing but as we have seen paper money is going out and instead people are using electronic means of payment instead.

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June 05, 2017, 06:31:07 AM
 #3660

Paper money is going to keep existing but as we have seen paper money is going out and instead people are using electronic means of payment instead.
I think you paid attention to the fact that all banks and government enterprises commas when paying on the account always offer the use of credit cards or in another way. By cashless settlement And for this, some bonuses are offered, those who are calculated by bank transfer. Thus contributing to the withdrawal of paper money from everyday life.

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