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Author Topic: The future of the paper money  (Read 414692 times)
ilovefeetsmell
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July 30, 2017, 11:40:35 PM
 #3961

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?

The future will be useless in the near future. All currencies will be digital in our technology age. I will go with a flow of what is trend today so I will go for it, I will use it if needed. I don't see paper money will be banned entirely because it can be used in daily transaction. Not all people use the internet, may be they were not aware of what is new today, popular and not up to date in technology.

Bitcoin will encounter some troubles like losing money or as we called now "Bitcoin". We do not know what will happen to our bitcoin in our transaction. Is it truly secured? What if hackers tried to get our Bitcoin?

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virtualkeybuyer
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July 30, 2017, 11:42:15 PM
 #3962

In near future paper money cannot be disturbed by bitcoin, because mostly business are running through paper money and bitcoin is more recognized/legalized by the countries across the world that bitcoin may be considered a threat for paper money. After eras it may be happened that bitcoin effect on paper money, but all these views are just assumptions and imaginations.
although bitcoin is becoming popular and as time pass bitcoin becomes more popular but i think still it cannot effect the fiat currency, fiat currency will continue will be be effected by bitcoin. i think bitcoin and fiat currency will continue  side by side for a long time and in far far future when the users of bitcoin will cross 90% population then the use of fiat will decrease.
It will not affect the fiat currency because the owners of them do not want to dump their fat and they are working for that as it is working better for their domestic dealings while I am sure that for international use bitcoin will replace fiat.

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July 31, 2017, 07:13:43 AM
 #3963

I think the future of paper money in a long run will be like a toilet paper in the bathroom where it will be no useful at all. But of course, it will take several years or decades before it happen. Because so far, it is being used in any places in the entire world to all countries as payment in the public.

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July 31, 2017, 07:27:13 AM
 #3964

If "paper money is banned entirely" it means a very great plus to crytocurrency. I know in few years to come bitcoin and others crytocurrency will be mainstream and most countries will have no option than adopting crytocurrency as money and use them as a medium of exchange for good and services.

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July 31, 2017, 07:31:58 AM
 #3965

Paper money will always be their in future as well but yes the transaction will reduce in cash and going forward it will be all in this virtual currency .

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July 31, 2017, 07:38:45 AM
 #3966

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.


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July 31, 2017, 08:20:34 AM
 #3967

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.

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July 31, 2017, 09:16:08 AM
 #3968

I think the future of paper money in a long run will be like a toilet paper in the bathroom where it will be no useful at all. But of course, it will take several years or decades before it happen. Because so far, it is being used in any places in the entire world to all countries as payment in the public.
Well for me, I don't think paper money will disappear in the future because there are still lots of areas in different countries that still depend on paper money because of low technology in their area. How about for example the street vendors, do you think they have that technology to just accept digital money? And there are still lots of street vendors in my countries and there are still lots of poor countries until now.

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August 15, 2017, 03:46:58 PM
 #3969

Cryptocurrency can be a good alternative. It seems to me that in a few years the dollar and Bitcoin will be used together
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August 15, 2017, 03:57:24 PM
 #3970

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.
But in one day, when the cryptocurrency world's become fomular, we can use them for buy any things like paper money at now. And this is reason make us should saving our coins for future.
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August 15, 2017, 04:23:29 PM
 #3971

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.
But in one day, when the cryptocurrency world's become fomular, we can use them for buy any things like paper money at now. And this is reason make us should saving our coins for future.
If all the users of bitcoins will think the same as you that this will never happen. Trade bitcoin can only develop when there is turnover on the currency. Until I see that people are using bitcoin as deposits. It is also not good, but time will correct this situation.

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Duzter
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August 15, 2017, 04:32:22 PM
 #3972

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.
But in one day, when the cryptocurrency world's become fomular, we can use them for buy any things like paper money at now. And this is reason make us should saving our coins for future.
When the popularity of bitcoin reaches high among the entire users we can get the ease in usage of bitcoin similar to the paper money. Another thing is that, if bitcoin has got physical form by now this could have been much popular than the current scenario of bitcoin and in my personal thinking believe that no replacement happens.

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stolendata
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August 15, 2017, 04:41:30 PM
 #3973

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.
But in one day, when the cryptocurrency world's become fomular, we can use them for buy any things like paper money at now. And this is reason make us should saving our coins for future.
When the popularity of bitcoin reaches high among the entire users we can get the ease in usage of bitcoin similar to the paper money. Another thing is that, if bitcoin has got physical form by now this could have been much popular than the current scenario of bitcoin and in my personal thinking believe that no replacement happens.
yes that is right but i think it will take a lot of time because currently the users of bitcoin are currently very low. and most of the people still do not have any knowledge about bitcoin and therefore they are not using bitcoin, but i think it will take a lot of time when all the people of the world start using
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August 15, 2017, 05:30:52 PM
 #3974

First paper currency will be substituted by electronic (95% already is), and after that will return to barter again! Grin
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August 15, 2017, 05:53:17 PM
 #3975

Paper Money is the dominating power of the global markets and it will never be replaced by digital coins. So it will maintain its position in the future as well.
Yes you are right, paper many will not be replaced by digital coins for today because digital coins still doesn't be adopted by all of the people, but paper money is not good for saving values because there are inflation in paper money, digital coins can protect us from the inflation especially digital coins that has limited amount, so digital coins will be alive and survive as digital asset than digital currencies.

for today usage, I'll go for paper money since there no other way yet that digital currency to use in buying basic needs instantly but in terms of saving digital currency rules.
But in one day, when the cryptocurrency world's become fomular, we can use them for buy any things like paper money at now. And this is reason make us should saving our coins for future.
When the popularity of bitcoin reaches high among the entire users we can get the ease in usage of bitcoin similar to the paper money. Another thing is that, if bitcoin has got physical form by now this could have been much popular than the current scenario of bitcoin and in my personal thinking believe that no replacement happens.
yes that is right but i think it will take a lot of time because currently the users of bitcoin are currently very low. and most of the people still do not have any knowledge about bitcoin and therefore they are not using bitcoin, but i think it will take a lot of time when all the people of the world start using
But even if bitcoin becomes a good currency and most of the people use them, paper money will still exist and it still be an important part of the world Cheesy. No matter how the world is, paper money will remain forever



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Reid
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August 15, 2017, 05:54:58 PM
 #3976

First paper currency will be substituted by electronic (95% already is), and after that will return to barter again! Grin

Barter?  Grin Why not? I still see it with other people and it is working well.
Fiat just made it easier and faster but it is not really needed to get food and other stuffs before.
But this is the future and everything looks like it is being processed by electricity and computers.
Someday there will be a big change and we cant stop it.

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August 15, 2017, 06:37:43 PM
 #3977

Why don't people get that Bitcoin is paper money?

You can store your Bitcoins on a piece of paper called a paper wallet just like fiat cash.



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AngelSky
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August 15, 2017, 07:17:44 PM
 #3978

Why don't people get that Bitcoin is paper money?

You can store your Bitcoins on a piece of paper called a paper wallet just like fiat cash.


Soon the price of bitcoin will replace the paper currency.At first it will replace the dollar. Then the all the currency. At last the paper currency.With considering that Many started to inverse Their money on bitcoin. Many start to convert their money to Bitcoin. At last It will replace the entire currency system.

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August 15, 2017, 08:22:08 PM
 #3979

people will start using bitcoin as currency in their local shops then it will really effect fiat. only those people who do not know about the use of bitcoin will be using fiat other wise all the new generation will give preference to bitcoin
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August 15, 2017, 08:25:30 PM
 #3980

people will start using bitcoin as currency in their local shops then it will really effect fiat. only those people who do not know about the use of bitcoin will be using fiat other wise all the new generation will give preference to bitcoin

But this will never make the bitcoin take the control over bitcoin. Waiting a supremacy from bitcoin globally is not reasonable.

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