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Author Topic: The future of the paper money  (Read 404075 times)
Vasilije69
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June 17, 2017, 09:13:08 PM
 #3781

Well, we can't know that for sure. Maybe in near future(for 15,20 years) paper money will dissapear and will be changed by Bitcoin. That might happen in develepod countries and maybe European Union... But there will always be some poor, undeveloped countries who won't be able to do that... Also, maybe some countries will not like this form of money and prefer it being in paper. Who knows... We will see.

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June 18, 2017, 03:08:45 AM
 #3782

I think someday paper money will be replaced with digital money. And that's how I feel right now. Most of them use atm services as transactions in buying and selling of goods. They use digital money to pay because it is more simple to use. Unlike banknotes that still lack weaknesses in payments.

As far as simplicity is concerned, I think paper money wins over digital money. When you tip a waiter, it is much easier to use paper money.
Plus digital money leaves a trail, which many people might not be comfortable with.

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June 18, 2017, 04:03:57 AM
 #3783

Even there's a lot of coins in the market or even the price of digital currencies we're raised up, I think that paper money were still used in the future. Because paper money were more usable for the people who cannot know how to use bitcoin.

If you read history, we go through these cycles. Paper money and hard backed money go through cycles, taking their turns as the dominant form of money. Never before have we existed this long on a paper fiat system. Hard money, whether through a basket of commodities or some other form will become our form of money again. The question is when?

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June 18, 2017, 03:54:29 PM
 #3784

I don't think that paper money is facing any competetion for Bitcoin because Bitcoin transactions charge very high fees which make Bitcoin useless for small transactions. We might shift our dependence on Bitcoin but total replacement is not possible.
Even if the transaction charges are low bitcoin wont face any challenge to the fiat currency simply because they are controlled by a government and there might be a time when they change everything to digital payment in the future,but it will take a long time.
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June 18, 2017, 06:06:50 PM
 #3785

Fiat currency is not a challenge for bitcoin to get its function as a digital currency that has a similar function to real currency, but to be able to replace fiat currency seems unlikely because not all bitcoin functions can be used real, as it has been making payment Transactions Bitcoin always uses internet connection and uses the power supply. Perhaps including this factor is always a consideration about the function of bitcoin which is always synonymous with internet connection and also flow of electricity.

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June 18, 2017, 06:21:35 PM
 #3786

I don't think that paper money is facing any competetion for Bitcoin because Bitcoin transactions charge very high fees which make Bitcoin useless for small transactions. We might shift our dependence on Bitcoin but total replacement is not possible.
Even if the transaction charges are low bitcoin wont face any challenge to the fiat currency simply because they are controlled by a government and there might be a time when they change everything to digital payment in the future,but it will take a long time.
And hopefully not, about  change everything to digital payment in the future, it would be very risky, a failure in the system whole and would paralyze everything, besides that would be completely unfair for many reasons, in that sense, the paper money also must always co-exist.

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June 18, 2017, 07:13:33 PM
 #3787

I don't think that paper money is facing any competetion for Bitcoin because Bitcoin transactions charge very high fees which make Bitcoin useless for small transactions. We might shift our dependence on Bitcoin but total replacement is not possible.
Even if the transaction charges are low bitcoin wont face any challenge to the fiat currency simply because they are controlled by a government and there might be a time when they change everything to digital payment in the future,but it will take a long time.
And hopefully not, about  change everything to digital payment in the future, it would be very risky, a failure in the system whole and would paralyze everything, besides that would be completely unfair for many reasons, in that sense, the paper money also must always co-exist.
I understand that digital technologies today are ahead of the rest of the world, But you must still think about those people who live on the periphery and not every home has an Internet. Such cases, digital technologies do not have to say. And about the fact that these people come to the Carpathians currency to pay their own or accounts, then this is generally this issue will not be on the agenda.

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June 18, 2017, 08:18:31 PM
 #3788

Paper money started dying with the advent of debit cards. I have rarely, like two times in a year on average, spent cash to buy something and this has been going on for about 10 years now. I'm in America.
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June 18, 2017, 08:57:12 PM
 #3789

Paper money started dying with the advent of debit cards. I have rarely, like two times in a year on average, spent cash to buy something and this has been going on for about 10 years now. I'm in America.

Also with credit cards and now, with crypto currencies paper money will be obsolete in the future. But I don't have an idea on when will it be happening and what is the possible way for those people that doesn't have an idea to use digital money. As not all the people are good in terms of technology there are some that would like to stick with paper.

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June 18, 2017, 09:05:32 PM
 #3790

As much as paper money is "in decline" in the developed world, it is still the "bitcoin" of currency in most other parts of the world where digital access is difficult.

It's definitely heading for extinction but hardly in our lifetime or even that of the next generation.

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June 18, 2017, 09:19:28 PM
 #3791

Paper money started dying with the advent of debit cards. I have rarely, like two times in a year on average, spent cash to buy something and this has been going on for about 10 years now. I'm in America.
I would not have written off paper money so quickly. The fact is that many more people are not ready to switch to even some debit cards or credit cards. As the saying goes, civilization has not been chosen everywhere, many people use money in the old-fashioned way.

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June 18, 2017, 10:58:31 PM
 #3792

The future of paper money can be so challenging in the future despite of the developing world of currency that's implementing a digital type of sustainable income. I think that it will still be the same type of paper money to be used in the future, but production of paper money will become lesser compared of our current consumption of paper money. Because of that situation happening of masisve adoption of digital currency paper money will not be used always due to fast payment transactions through blockchain networks doing the entire process into fast and comfortable implementations.
Paper money are already secured that it will still be valuable in the future, the government create it for the convenience of everyone and why would they will eliminate that in the circulation. People may adopt with online currency but they cannot live without paper money because most of the activities in life are not done online.
yes  you are right that the country created the paper money for the convenience of the citizens and this is a signs of nation as their national currencies because of that the nation will support their currencies. In future every company want to shift our business on a digital system in that case it is sure that the uses of digit will be going on higher preferences and the uses of paper money become low.

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June 19, 2017, 12:12:47 PM
 #3793

The future of paper money can be so challenging in the future despite of the developing world of currency that's implementing a digital type of sustainable income. I think that it will still be the same type of paper money to be used in the future, but production of paper money will become lesser compared of our current consumption of paper money. Because of that situation happening of masisve adoption of digital currency paper money will not be used always due to fast payment transactions through blockchain networks doing the entire process into fast and comfortable implementations.
Paper money are already secured that it will still be valuable in the future, the government create it for the convenience of everyone and why would they will eliminate that in the circulation. People may adopt with online currency but they cannot live without paper money because most of the activities in life are not done online.
yes  you are right that the country created the paper money for the convenience of the citizens and this is a signs of nation as their national currencies because of that the nation will support their currencies. In future every company want to shift our business on a digital system in that case it is sure that the uses of digit will be going on higher preferences and the uses of paper money become low.
the state money belong to the state and you can only use it. the do not belong to you as you have no right to take it with you to any other country without paying tax on it. we most pay tax on government items, so money is also belong to government, but  bitcoin is your own money you do not have any restriction about its use, you can carry it away to any where, you do not have to pay tax for that, its your money and belong to you for ever no one and no government can claim it.
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June 20, 2017, 04:44:40 PM
 #3794

Everything has its own time. Our perception of money, how it is earned and valued is undergoing a major change. As it stands, cash is being phased out in the West and and developed countries.

They use use more credit and debit cards, online banking and mobile money, In a few years, developing countries will follow suit. We are a long way from block-chain dominated currencies, but I see it happening. Paper money will disappear, but  it is still king for now.
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June 20, 2017, 06:07:24 PM
 #3795

Everything has its own time. Our perception of money, how it is earned and valued is undergoing a major change. As it stands, cash is being phased out in the West and and developed countries.

They use use more credit and debit cards, online banking and mobile money, In a few years, developing countries will follow suit. We are a long way from block-chain dominated currencies, but I see it happening. Paper money will disappear, but  it is still king for now.

Yup now almost all country govt are telling their country people to use only digital transaction. Becasue to avoid black money storage. We can make black money only wth the fiat currency if it is not there means we don't have other options we must use online or credit or debit cards. So if it happens in all country then automatically the bitcoin will become more popular in all over the world. 


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June 20, 2017, 08:24:23 PM
 #3796

I don't think that paper money is facing any competetion for Bitcoin because Bitcoin transactions charge very high fees which make Bitcoin useless for small transactions. We might shift our dependence on Bitcoin but total replacement is not possible.
although there is no competition between bitcoin and fiat money, but I think that with the passage of time, as soon as bitcoin is becoming more and more popular and as soon as the users of bitcoin are increasing I think people will give more preference to bitcoin and will like to use online shopping using bitcoin and it will surely decrease the use of fiat currency and will surely decrease its popularity.
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June 20, 2017, 08:29:03 PM
 #3797

Everything has its own time. Our perception of money, how it is earned and valued is undergoing a major change. As it stands, cash is being phased out in the West and and developed countries.

They use use more credit and debit cards, online banking and mobile money, In a few years, developing countries will follow suit. We are a long way from block-chain dominated currencies, but I see it happening. Paper money will disappear, but  it is still king for now.

Paper money won't disappear, it can become less widely used yes but it is the only current payment method that works offline. What do you think we are going to do when the internet is down or when there is a power outage? Stop making transactions? No people will use paper money.
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June 20, 2017, 10:38:08 PM
 #3798

Everything has its own time. Our perception of money, how it is earned and valued is undergoing a major change. As it stands, cash is being phased out in the West and and developed countries.

They use use more credit and debit cards, online banking and mobile money, In a few years, developing countries will follow suit. We are a long way from block-chain dominated currencies, but I see it happening. Paper money will disappear, but  it is still king for now.

Paper money won't disappear, it can become less widely used yes but it is the only current payment method that works offline. What do you think we are going to do when the internet is down or when there is a power outage? Stop making transactions? No people will use paper money.
yes paper money will continue for a long time and it is not going to disappear in fact still bitcoin is still not used by all people, it will take some more time. still not more than 2 percent of people are using bitcoin, fiat can only disappear people will become able to use bitcoin for every thing for which we are using fiat and when every person have the knowledge how to use digital currency then bitcoin can be effected.
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June 20, 2017, 11:06:11 PM
 #3799

Everything has its own time. Our perception of money, how it is earned and valued is undergoing a major change. As it stands, cash is being phased out in the West and and developed countries.

They use use more credit and debit cards, online banking and mobile money, In a few years, developing countries will follow suit. We are a long way from block-chain dominated currencies, but I see it happening. Paper money will disappear, but  it is still king for now.

Paper money won't disappear, it can become less widely used yes but it is the only current payment method that works offline. What do you think we are going to do when the internet is down or when there is a power outage? Stop making transactions? No people will use paper money.
yes that is right that the use of fiat currency can be decrease but it cannot finish for every. because even if the majority of people start adopting bitcoin still there will be people who do not know about the use of internet and computer. so they will continue using fiat. i think it will take decades when all the people will become so much educated and they will start using bitcoin and will stop using fiat any more.

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June 21, 2017, 12:07:41 AM
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Even there's a lot of coins in the market or even the price of digital currencies we're raised up, I think that paper money were still used in the future. Because paper money were more usable for the people who cannot know how to use bitcoin.
People often forget that Bitcoin could be used as Paper Money as well. Bitcoin Paper Wallets could be used to purchase things offline while fiat is used in that same exchange as well. I am pretty sure that Bitcoin will help people to use less fiat compared to how many people are using it now.

Bitcoin cannot exist physically. Even if you have a paper wallet, you cannot actually spend the bitcoins except by transferring the coins digitally to someone else, which can only be accomplished through the blockchain. If you were to give someone your paper wallet, they may accept that as payment, but the blockchain wil not reflect the transaction. And as someone who previously had the private key, you can't be sure the previous owner won't still spend the coins digitally. This may seem like a non-issue, but it gets at what Bitcoin is fundamentally, and that is as a solely digital currency. It's impossible for Bitcoin to exist in the physical world, because ownership is determined by the ability to move coins in the blockchain, and the blockchain only exists digitally.


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