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Author Topic: The future of the paper money  (Read 404082 times)
jamieb81
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June 28, 2017, 05:40:24 AM
 #3861

i dont say its a capital revolution but paper money into 10 to 20 years will dissapear into developed countries no more printed money into bill notes or coins that its becoming digital and digital currency will not evolve much cause euro and dollar and yen are already digital soo the coin digital currencies must be off the bad markets to become more stable.
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June 28, 2017, 05:46:29 AM
 #3862

Paper money would still exist.It could not be avoided completely.Even indian government decided to encourage digital payments and banned high value notes.But it turned to be useless.People felt comfort in staying only with paper money.Also,more people still don't know about digital transactions and they don't even have debit or credit card.So paper money would continue to exist.

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June 28, 2017, 06:40:10 AM
 #3863

Paper money would still exist.It could not be avoided completely.Even indian government decided to encourage digital payments and banned high value notes.But it turned to be useless.People felt comfort in staying only with paper money.Also,more people still don't know about digital transactions and they don't even have debit or credit card.So paper money would continue to exist.
This is the fact, whatever changes of the financial system and india just declared bitcoin as legal but it does not affect the
circulation of paper money, the users are the one who will decide and they all love to stay with their comfort level.

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June 28, 2017, 06:43:01 AM
 #3864

Until a digital currency works offline paper money will always be around and be useful and any attempt to remove it would be met with protests. I really don't see why some people seem to think bitcoin is a replacement for fiat money, they both serve their own purposes and can work well together.
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June 28, 2017, 06:45:43 AM
 #3865

I think the paper money is gonna disappear for good because the digital currency's are the future, you also can see online payments are getting more standard and also in real life its easier.
I think it will never disappear for good but the amount will lower for sure.
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June 28, 2017, 07:04:19 AM
 #3866

I think the paper money is gonna disappear for good because the digital currency's are the future, you also can see online payments are getting more standard and also in real life its easier.
I think it will never disappear for good but the amount will lower for sure.

I have to disagree with you Digital Currency is not even back up by the government yet. Do you think they will agree on a currency in which they don't have full control on it? I guess not because you are endangering the country especially their economy. The only way that Fiat currency will disappear is when the government creates its own cryptocurrency. And for your information that online payment you are saying from credit cards and debit cards are funded by Fiat currency.

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June 28, 2017, 09:44:43 AM
 #3867

I think the paper money is gonna disappear for good because the digital currency's are the future, you also can see online payments are getting more standard and also in real life its easier.
I think it will never disappear for good but the amount will lower for sure.

I have to disagree with you Digital Currency is not even back up by the government yet. Do you think they will agree on a currency in which they don't have full control on it? I guess not because you are endangering the country especially their economy. The only way that Fiat currency will disappear is when the government creates its own cryptocurrency. And for your information that online payment you are saying from credit cards and debit cards are funded by Fiat currency.

Yes I agree with you.  The government will not pursue on this kind of currency if they will not benefit from it.  And actually many digital currency were created in favor of their currency of for their native users.  Though it would be really hard for the government to engage in this kind of currency as there would be many studies and plans to consider before enabling a digital currency to operate on one's country.

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June 28, 2017, 11:28:00 AM
 #3868

I think the paper money is gonna disappear for good because the digital currency's are the future, you also can see online payments are getting more standard and also in real life its easier.
I think it will never disappear for good but the amount will lower for sure.

I have to disagree with you Digital Currency is not even back up by the government yet. Do you think they will agree on a currency in which they don't have full control on it? I guess not because you are endangering the country especially their economy. The only way that Fiat currency will disappear is when the government creates its own cryptocurrency. And for your information that online payment you are saying from credit cards and debit cards are funded by Fiat currency.

Yes I agree with you.  The government will not pursue on this kind of currency if they will not benefit from it.  And actually many digital currency were created in favor of their currency of for their native users.  Though it would be really hard for the government to engage in this kind of currency as there would be many studies and plans to consider before enabling a digital currency to operate on one's country.
The government will try their best to get some benefits from bitcoin they might charge some tax in bitcoin even it looks impossible but who knows? They will not accept bitcoin unless they can't get benefit or make money from it. Bitcoin is one of the decentralized currency so even though government like being centralized it is still an advantage for them because they don't have any competitor in bitcoin because they are all free in using it.

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June 28, 2017, 12:56:40 PM
 #3869

Until a digital currency works offline paper money will always be around and be useful and any attempt to remove it would be met with protests. I really don't see why some people seem to think bitcoin is a replacement for fiat money, they both serve their own purposes and can work well together.
I actually would not underestimate the possibilities and potential of paper money, because today more than half of humanity Only thanks to them can afford some kind of shopping. Not everyone recognizes the banking sphere and credit cards and I'm not talking about the crypto currency. Therefore, paper money will continue to be used for a long time.

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June 29, 2017, 03:17:01 AM
 #3870

Paper money would still exist.It could not be avoided completely.Even indian government decided to encourage digital payments and banned high value notes.But it turned to be useless.People felt comfort in staying only with paper money.Also,more people still don't know about digital transactions and they don't even have debit or credit card.So paper money would continue to exist.

India is still a developing country. And the government rushed things. For example many people didn't have a bank account until the government pushed for everyone to have one.

In France this happened in the 70's. You pretty much can't live in France without a bank account. Almost 50 years later we still have bills and coins. They're just not that important in our life, we can pay anything with a card.

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June 29, 2017, 11:40:38 AM
 #3871

Until a digital currency works offline paper money will always be around and be useful and any attempt to remove it would be met with protests. I really don't see why some people seem to think bitcoin is a replacement for fiat money, they both serve their own purposes and can work well together.
I actually would not underestimate the possibilities and potential of paper money, because today more than half of humanity Only thanks to them can afford some kind of shopping. Not everyone recognizes the banking sphere and credit cards and I'm not talking about the crypto currency. Therefore, paper money will continue to be used for a long time.

Lol. I don't see how a digital currency can work offline as by the definition of it, it needs intermet connection to function. That's easily the reason why paper money can't go out of use. We can't really go exclusively digital as there will be transactions that won't support a paperless system.

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June 29, 2017, 12:38:50 PM
 #3872

I think the future of the paper money is not too bright. Even now credit card payment nearly surpasses the use of cash. I dınt think in the near future the paper money will disappear but the usage is decreasing. After the crypto money, the usage will decrease even more. But please do not forget that even to buy crypto u need some cash for now or maybe credit card Smiley

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June 29, 2017, 03:31:55 PM
 #3873

I think the future of the paper money is not too bright. Even now credit card payment nearly surpasses the use of cash. I dınt think in the near future the paper money will disappear but the usage is decreasing. After the crypto money, the usage will decrease even more. But please do not forget that even to buy crypto u need some cash for now or maybe credit card Smiley

It's true only.Many started online transaction for their purchase and all.The future of paper currency is very very low.Since many use Online transaction ,the usage of paper money will reduce. If it's continue means,the  paper money will not exist in future.

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June 29, 2017, 03:42:20 PM
 #3874

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

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June 29, 2017, 07:05:46 PM
 #3875

I think the future of the paper money is not too bright. Even now credit card payment nearly surpasses the use of cash. I dınt think in the near future the paper money will disappear but the usage is decreasing. After the crypto money, the usage will decrease even more. But please do not forget that even to buy crypto u need some cash for now or maybe credit card Smiley

It's true only.Many started online transaction for their purchase and all.The future of paper currency is very very low.Since many use Online transaction ,the usage of paper money will reduce. If it's continue means,the  paper money will not exist in future.

You are talking about developed countries with a strong economy. But there are many countries where cash is mainly used. In these countries there is no infrastructure for using digital currency

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June 29, 2017, 10:25:28 PM
 #3876

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.
Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money



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June 29, 2017, 11:04:38 PM
 #3877

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.
Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money
in fact government will never like to replace bitcoin by paper money. I think they will like paper money to continue, but I think it will depend on the interest of the people If people are interested in bitcoin then they will give more preference to bitcoin and will decrease the use of fiat and so the use of fait money will decrease but will still continue to be use for a long time because al most all the people of the world will become able use bitcoin I do not think so that it will ever happen.
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June 29, 2017, 11:10:03 PM
 #3878

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.
It is very likely that the government will create another version of the fiat in the form of electronic or digital. This is used to replace paper money. I think there is no chance for bitcoin to take over paper money. All the key things are on the government
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June 29, 2017, 11:31:59 PM
 #3879

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.
It is very likely that the government will create another version of the fiat in the form of electronic or digital. This is used to replace paper money. I think there is no chance for bitcoin to take over paper money. All the key things are on the government
i do not think that government will create another version of the fiat in the form of electronic or digital but i think they will like to continue their existence fiat currency and may be they are thinking about to create their own crypto currency that will be using only in their own country but it will still not replace bitcoin, because it will still remain as centralized currency and will be under the control of their government.
Zenithar
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June 29, 2017, 11:58:23 PM
 #3880

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.
Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money
I think paper money  is not going to disappear so easily. actually bitcoin will take a lot of time, may be decades or even century when majority of people will start using bitcoin and will devalue paper money, therefore paper money will continue with bitcoin and people will be welling to use both  the option, they will mostly use bitcoin for online purposes and fiat for local where bitcoin will not be accepted.
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