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Author Topic: The future of the paper money  (Read 403579 times)
Zenithar
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June 20, 2017, 10:38:08 PM

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

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

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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BlokF4No27
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June 21, 2017, 02:56:36 AM

We have to admit that the use of paper money getting down, it is because the State see that paper money is difficult to control, easily forged and many other issues, I'm sure 100 years more paper money will dissapear replace with digital money.
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June 21, 2017, 11:03:38 AM

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. 




Not sure about your country but in my country the banks is where they hide their black money. There are politicians that scammed the people and what they did was they put the money to the bank accounts of their people. Their driver has a mansion named to him. The maids have millions of money. And their family has all the things that they want. The black money was scattered by having people come over and open a bank account with their names. It's like those people were their dummy accounts and all the cards belong to the scammer. They just paid those people for opening up dummy accounts.


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June 21, 2017, 11:16:03 AM

Paper money will remain. After all, in case of a global breakdown, the entire Internet can disappear together with all electronic currencies.

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June 21, 2017, 11:22:05 AM

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.
Bitcoin adoption and the cryptocurrency usage is quite increasing regularly. In my opinion the same will not contribute big in the destruction of paper money. Just with the paper money further digitisation has taken place. So the paper money gets used however things get digital for the above mentioned reason.

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Proton2233
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June 21, 2017, 11:24:28 AM

Paper money will remain. After all, in case of a global breakdown, the entire Internet can disappear together with all electronic currencies.
Global failure of the Internet cannot be. Can only be a local failure, but it is always possible to connect the backup line. Paper money is an atavism. Gradually, they will be supplanted by electronic money.

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June 21, 2017, 01:17:03 PM

Paper money will remain. After all, in case of a global breakdown, the entire Internet can disappear together with all electronic currencies.
Global failure of the Internet cannot be. Can only be a local failure, but it is always possible to connect the backup line. Paper money is an atavism. Gradually, they will be supplanted by electronic money.

An internet breakdown is not a remote possibility wit ball the threats of nuclear war looming. I'm not trying to be gloomy but if anything of that scale breaks out, there's nothing digital currencies can do. I think even fiat would have a hard time bouncing back as the chaos it will cause would most likely leave us trading valuables for essential things to survive on

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June 21, 2017, 01:36:56 PM

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.
Yes its a good feeling to hold a paper money in your hand because you can used it wherever you want. Bitcoin will just help us to save more so that if we convert it into fiat we can cash it out and do whatever we want. For me paper money and bitcoin was the same because it brings happiness to me.

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June 21, 2017, 04:06:24 PM

Paper money, also called fiat currency or simply cash is a mode of payment since ancient times and is still being used in many countries.
As far as I can see, future of paper money is hell dark.. Technology is advancing, people prefer wireless things now, and thats the reason why people are liking bitcoins this much..
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June 21, 2017, 04:50:01 PM

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

There is a good saying

It says, never say never. You may finally want to learn more about OpenDime devices (as I had suggested you once upon a time). These devices specifically address the point you mentioned, i.e. secure transfer of private keys (since this is what you actually own, not some abstract coins). I guess you won't deny that if you can transfer the keys securely, it pretty well cuts as moving the coins off-chain. In other words, the coins which are unlocked by the keys you have are no less physical as they are digital in your desktop wallet. In both of these cases, bitcoins exist only as balances linked to addresses in the blockchain, you can only have the keys that allow you to move coins. This seems to be the primary cause of your misunderstanding (i.e. not distinguishing between the keys and the coins)

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June 21, 2017, 07:31:07 PM

I think paper money is going to last as long as the governments want them to last, if they want to and see it more profitable to start a digital currency to facilitate transactions online I think they'd do it for the betterment of themselves, and centralization they're not going to do it cause they're looking out for the people or anything along those lines. People may say that they would never work with a governments crypto, but you would, and you'd do it because the government would probably try to make it hard for you to use other currencies so you're kinda forced into it.

Governments hold a shit ton of power, and we kind of have to accept it or be run over by them in the process.



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stergium
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June 21, 2017, 11:25:50 PM

I think paper money is going to last as long as the governments want them to last, if they want to and see it more profitable to start a digital currency to facilitate transactions online I think they'd do it for the betterment of themselves, and centralization they're not going to do it cause they're looking out for the people or anything along those lines. People may say that they would never work with a governments crypto, but you would, and you'd do it because the government would probably try to make it hard for you to use other currencies so you're kinda forced into it.

Governments hold a shit ton of power, and we kind of have to accept it or be run over by them in the process.
but i think it is all because of the interest of the people if people are interested to use fiat then it will continue and when people will give preference to fiat currency then fiat currency will  become more popular and slowly the use of fiat will decrease and at last will die for ever. but i do not think it is so easy to happen it will take a long time, paper money will continue to be use by the people along with bitcoin.
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June 21, 2017, 11:37:31 PM

Paper money will protect its fortune and coins have no chance against paper real money.

Some people will still dream that coins take paper money down.

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June 21, 2017, 11:45:08 PM

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

Right, fiat never replaced by any crypto-currency. Paper money is very important in poor people, this people want paper money to buy and use for business. Even if bitcoin become demands, fiat never fall. It will stay forever in this world.

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Any store can buy, sell, and accept Crypto


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June 22, 2017, 04:36:52 AM

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

Right, fiat never replaced by any crypto-currency. Paper money is very important in poor people, this people want paper money to buy and use for business. Even if bitcoin become demands, fiat never fall. It will stay forever in this world.
Fiat is user friendly and legal, crypto currency only serves a limited number of people due to its limitation.
It's an online payment system or currency, but it does not have the same elements of a real money which can be use
for offline and online transation and provides security.

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June 22, 2017, 04:46:31 AM

I was scared for the future of paper money, because if the crytocurrencies not stopped to become famous in the whole world. Sooner of later paper money has been vanish, but I don't expect that it happen due paper money was symbolizing each country.

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June 22, 2017, 05:07:11 AM

I was scared for the future of paper money, because if the crytocurrencies not stopped to become famous in the whole world. Sooner of later paper money has been vanish, but I don't expect that it happen due paper money was symbolizing each country.
My prediction in the future is paper money will still stay in the ciruclation, more options to transact is possible
but paper money is the most convenient and it might lessen the demand but will not vanish.

 
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June 22, 2017, 05:11:38 AM

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 will no be completely banned.Even now,there are more people around the world who just believe paper money as real.They are not familiar with digital transactions.Even in well developed country like US,paper money is not banned.So,it would continue to exist.

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