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Author Topic: The future of the paper money  (Read 404062 times)
FlightyPouch
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July 17, 2017, 10:30:08 PM
 #3901

Perhaps far out in the future, you will be able to trade in your paper money for digital currency.

If you don't know, trading and buying is the same, we are just used that these is done by using a money and the thing they want.

Trading was done a long time ago without money, they exchange their valuable things for another valued things with the same value. So you can say that if you buy a bitcoin, you are trading them with your fiats, so it is not in the future but we usually do it.

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July 17, 2017, 10:39:35 PM
 #3902

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Yeah you're correct. Many country are now accepting and legalizing the bitcoin. It is really a good news for us to the bitcoiners because the bitcoin has progression. Bitcoin will become our future money.

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July 17, 2017, 10:45:36 PM
 #3903

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Yeah you're correct. Many country are now accepting and legalizing the bitcoin. It is really a good news for us to the bitcoiners because the bitcoin has progression. Bitcoin will become our future money.
The bitcoin is now very popular all over the world. The value of the bitcoin that still rising up is the advantage of the bitcoin why many people entering the world of cryptocurrency. I know this following years bitcoin will become more popular.

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July 17, 2017, 10:47:51 PM
 #3904

governments aren't interested in corporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another some years (10-25 years). But the first steps are gone by allowing the payment in some countries
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July 17, 2017, 10:57:53 PM
 #3905

governments aren't interested in corporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another some years (10-25 years). But the first steps are gone by allowing the payment in some countries


They are interested in using bitcoin in their country, they are even making ATMs for it, but not as the primary currency but as a secondary currency. They are also making their own currency, a digital currency which will be used in their country, so I think paper money will be circulating the world not only for 10-25 years but maybe for another century.


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Vikingr
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July 17, 2017, 11:30:07 PM
 #3906

I don't think paper money is facing any threat from Bitcoin as government will not allow the circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Yes, it is certain that bitcoin will not do anything and cannot change the way paper money have.  Paper money has always been here and we saw that it is really indeed a great way to pay anything with it.  Although it is easy for me to earn money through bitcoin.  There is no doubt that one day but not so soon, bitcoin will be considered as another currency along with paper money.
Indeed bitcoins have got a lot of fame in couple of years but it is still struggling to get legalized all over the world. It’s not a nice thing to compare two totally opposite things. Bitcoins are digital currency and they are posing real threat for many other digital currencies but not to paper money as such. It might reduce the usage of paper money in developed countries, but can’t totally eradicate paper money from the face of earth.

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July 18, 2017, 12:45:52 AM
 #3907

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 will be abandoned, but it still takes 2 decades or more in my opinion. Because today there are still many people in countries especially poor and developing countries who do not even know money, do not know how to use the debit card, and atm.
With digital money, we can reduce the risk of inflation in the country, reduce the spread of counterfeit money, and certainly reduce the act of robbery because all protected by pins or the like.
The risk to this is on hackers, where hackers can take over and steal our funds.
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July 20, 2017, 07:17:39 AM
 #3908

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 will be abandoned, but it still takes 2 decades or more in my opinion. Because today there are still many people in countries especially poor and developing countries who do not even know money, do not know how to use the debit card, and atm.
With digital money, we can reduce the risk of inflation in the country, reduce the spread of counterfeit money, and certainly reduce the act of robbery because all protected by pins or the like.
The risk to this is on hackers, where hackers can take over and steal our funds.
You have nicely explained the benefits of digital money and exactly, it will take couple of scores to make usage of paper money obsolete even in developed countries. Still there are a good percentage of people who do not like dealing in digital money. But poor countries where there’s no concept of banks will obviously need centuries to be parallel with developed countries.

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July 27, 2017, 04:51:43 PM
 #3909

I think that, we will more time have a paper money, but i think also that in far the future it will not be paper money
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July 27, 2017, 09:36:55 PM
 #3910

paper money will die but goverment will create their own blockchain so they will not use bitcoin for sure and it should be PoS.

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July 27, 2017, 11:17:12 PM
 #3911

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
I think ita right, bitcoin become paper money and it needs  more years because at this time they can't compete to the other currency like dollar, especially the currency of own country. Some store are not totally familiar in bitcoin and for them they much better to choose the popular currency or the paper cash, because some store are small and focusing only in their business, they have no time for discovering things.

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July 28, 2017, 12:21:32 AM
 #3912

I certainly think that Bitcoin has the potential to overtake paper money, although it will probably take some time before Bitcoin turns from an investment tool to a total currency. More and more people need to be introduced to the Bitcoin network as well as more businesses need to adopt and introduce Bitcoin as a payment method for all it's customers. Once that is done, Bitcoin will really start to boom as a currency.
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July 28, 2017, 12:29:23 AM
 #3913

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Although paper money will disappear and have no future but that does not mean it will make bitcoin as the heir of major currencies in the world. Of course fiat and the world bank will think of for a new version that will replace paper money and certainly in accordance with existing new technologies



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July 28, 2017, 01:12:10 AM
 #3914

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Although paper money will disappear and have no future but that does not mean it will make bitcoin as the heir of major currencies in the world. Of course fiat and the world bank will think of for a new version that will replace paper money and certainly in accordance with existing new technologies
I think Paper money will not disappear, bitcoin is a cryptocurrency Which he is only in a digital world as a means of replacing paper money.with bitcoin so easy to transact without the hassle of carrying paper money. But the paper money will not be disappear. Wink



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July 28, 2017, 01:24:11 AM
 #3915

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Although paper money will disappear and have no future but that does not mean it will make bitcoin as the heir of major currencies in the world. Of course fiat and the world bank will think of for a new version that will replace paper money and certainly in accordance with existing new technologies
I think Paper money will not disappear, bitcoin is a cryptocurrency Which he is only in a digital world as a means of replacing paper money.with bitcoin so easy to transact without the hassle of carrying paper money. But the paper money will not be disappear. Wink
You are answering the question wrongly. Firstly OP is about what will be the future of paper money and it is not asking who will replace it in return. But I myself cannot answer the question correctly as they are asking for what is obvious, fiat currency's existence is not diminishing because of the existence of cryptocurrency, they are backed up by their respective government and I don't see any reason why they will ban their own fiat currency just to make way of an uncontrolled cryptocurrency, I don't see any logic behind it.

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July 28, 2017, 01:26:20 AM
 #3916

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.
Although paper money will disappear and have no future but that does not mean it will make bitcoin as the heir of major currencies in the world. Of course fiat and the world bank will think of for a new version that will replace paper money and certainly in accordance with existing new technologies
The digital currency that is controlled by the government will take over and replace paper money if it happen that people
will have to do away with manual transaction anymore. Bitcoin is just a alternative currency for transaction but it will not be successful with fiat.



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July 28, 2017, 01:27:57 AM
 #3917

paper money will die but goverment will create their own blockchain so they will not use bitcoin for sure and it should be PoS.

No, paper money will keep on existing as the government will gradually implement the digital money / crypto currency. I don't think they will set aside the idea of using and adopting bitcoin, they won't mind using many currencies for different transactions as long as it will generate profit and it has value for the taxation of them.

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Machine Learning & AI - Trustless Ledger System


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July 28, 2017, 03:05:35 AM
 #3918

paper money will die but goverment will create their own blockchain so they will not use bitcoin for sure and it should be PoS.

No, paper money will keep on existing as the government will gradually implement the digital money / crypto currency. I don't think they will set aside the idea of using and adopting bitcoin, they won't mind using many currencies for different transactions as long as it will generate profit and it has value for the taxation of them.
When the govern will decide that they will change the present paper money in to digital currency then they will make their own
digital currency and it's not going to be bitcoin. However, that progress will bring good effect to bitcoin's market because people will
be more educated on digital currency which bitcoin belongs as well.

 
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July 28, 2017, 03:39:39 AM
 #3919

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
Yes, and I think there's a big possibility that paper money and bitcoin is about to merge, and I hope if that happened, bitcoin will definitely raise its value,

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July 28, 2017, 06:58:26 AM
 #3920

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
Yes, and I think there's a big possibility that paper money and bitcoin is about to merge, and I hope if that happened, bitcoin will definitely raise its value,
I think it's hard to put them together, because bitcoins are impossible to print on paper, I think the future of paper money will last up to 75 years, which will be replaced with digital money.

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