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Author Topic: The future of the paper money  (Read 415038 times)
stolendata
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August 15, 2017, 11:20:22 PM
 #3981

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
yes that is the distination of bitcoin but i think it is not so easy, i think it will take centuries, when all the people of the world so much become educated that they know about computer and internet and then start using bitcoin which is not so easy i think. but still we can expect that a time will come when people will become enable to use bitcoin for everything they want to buy.
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August 15, 2017, 11:28:56 PM
 #3982

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.

i do  not think that it is so easy that bitcoin will replace dollar so soon. i think that it will take a lot of time when bitcoin is become enable to overcome fiat currency. actually it can only be possible when most of the people of the world start using bitcoin and i think that is not so easy because still in most of the place people do not know about bitcoin.
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August 15, 2017, 11:36:39 PM
 #3983

I think we tend to underestimate the contributions paper money makes to society in the form of convenient, fast and reliable transactions.

Paper currency allows fast and easy buying & selling of used goods, garage sales, farmers markets and other transactions which can occur without a merchant gateway of point of sale device which can read credit cards, etc.

Crypto currencies and paper currencies don't necessarily need to compete.

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August 16, 2017, 05:20:35 AM
 #3984

I am the new employee to this bitcoin side and i hope that one day this bitcoin all coin will be make paper money if we want to broke this coin then we get it paper money and i also think that in future it is the best of every human.
BitcoinMarshal
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August 16, 2017, 05:30:44 AM
 #3985

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.

i do  not think that it is so easy that bitcoin will replace dollar so soon. i think that it will take a lot of time when bitcoin is become enable to overcome fiat currency. actually it can only be possible when most of the people of the world start using bitcoin and i think that is not so easy because still in most of the place people do not know about bitcoin.
You are right its very hard bitcoin will replace dollar because dollar is backed by many countries and main source of trade for world and bitcoin is just backed by very small community its need too much time and work to become more popular in the world for replacement of dollar its very long time even I can say not possible in our life
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August 16, 2017, 06:14:36 AM
 #3986

I don't think that paper money has any future at all, considering that it has no real value and only the government has control over its supply and nobody else. So I don't think that it is a good idea at all while bitcoin is a great technology that has a great future.
Yarsk
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August 16, 2017, 06:40:36 AM
 #3987

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 replacement of paper money with digital currency is the future of currency's world where by good and services can be bought cashlessly, the banking system will fine ease in doing there business as the will be low flow of money in the bank and replaced by digital currency.
And the risk of doing transaction will be reduced because people will not have carry large quantity of money around.
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August 16, 2017, 06:49:41 AM
 #3988

I don't think that paper money has any future at all, considering that it has no real value and only the government has control over its supply and nobody else. So I don't think that it is a good idea at all while bitcoin is a great technology that has a great future.
Paper money has a good future is the government will let it remain in the world, they have the power not to eliminate this and I think it's right because majority of the people are still using paper money. I myself is using paper money because I am only living in a small county where technology is not yet widely adopted.

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August 16, 2017, 07:17:17 AM
 #3989

I don't think that paper money has any future at all, considering that it has no real value and only the government has control over its supply and nobody else. So I don't think that it is a good idea at all while bitcoin is a great technology that has a great future.
Paper money has a good future is the government will let it remain in the world, they have the power not to eliminate this and I think it's right because majority of the people are still using paper money. I myself is using paper money because I am only living in a small county where technology is not yet widely adopted.
Paper money will stay in our life and the government will not allow to eliminate the paper money because we can see that there is a lot of people that are used to paper money and even before the cryptocurrencies, the paper money is already here and it will be just a tandem for bitcoin and paper money to revolutionize the world in the future.

freedomgo
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August 16, 2017, 07:26:25 AM
 #3990

I don't think that paper money has any future at all, considering that it has no real value and only the government has control over its supply and nobody else. So I don't think that it is a good idea at all while bitcoin is a great technology that has a great future.
Paper money has a good future is the government will let it remain in the world, they have the power not to eliminate this and I think it's right because majority of the people are still using paper money. I myself is using paper money because I am only living in a small county where technology is not yet widely adopted.
Paper money will stay in our life and the government will not allow to eliminate the paper money because we can see that there is a lot of people that are used to paper money and even before the cryptocurrencies, the paper money is already here and it will be just a tandem for bitcoin and paper money to revolutionize the world in the future.
The fact that bitcoin is regulated by the government that means they want to monitor although they cannot control it.
Paper money was created a long time already and people get used to this way of transacting and there has been no problem for the majority of people
so there is no reason to eliminate this. Bitcoin is just good for people who are business minded as they can prevent inflation paper money has.

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Aventhe
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August 16, 2017, 07:47:40 AM
 #3991

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?


No, I do not think that paper money will be banned, at least not anytime soon. Governments are in full control of today's currency, and it would make no sense for them to get rid of it and move to a cryptocurrency or any other form of payment online. It would be much harder for them to control / manipulate it to their favour.

However, I do see an end to paper money in the next few decades, maybe even earlier. It has been used for quite some time now and has become 'outdated' compared to today's society. If we were to invest more time, money and energy into developing secure, fast online transaction methods (Bitcoin per se) then paper money would definitely come to a halt.
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August 16, 2017, 09:03:53 AM
 #3992

I'm sure, no more than 50 years paper money will disappear, this is because today many countries are transitioning transactions from cash (paper money) to digital, so slowly paper money will be disappear.
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August 16, 2017, 10:32:52 AM
 #3993

plastic cards square measure identical cash and that they have already partly replaced folding money. solely paper won't flee, as a result of they complement one another within the event of a system failure
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August 16, 2017, 11:09:44 AM
 #3994

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?


No doubt, paper currency is going down or even getting out of the pictures in future. Paper currency first removes gold coins out of the image as a form of currently and yet Bitcoin is about to the same to paper currency. It will take time but for sure bitcoin will take over traditional paper currency in the future or at least make it less important, like how USD does to other local currencies in the market. Cool

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August 16, 2017, 12:00:23 PM
 #3995

If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep

I agree with this, everything controlled by goverment will has limit and not private
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August 16, 2017, 12:14:06 PM
 #3996

I am sure that paper money will exist along with electronic money, because there must be an alternative in case there is a failure or the Internet will be lost. Maybe they will not be so popular, but they will not disappear.

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August 16, 2017, 12:27:49 PM
 #3997

I'm quite sure that many governments want to replace paper money with digital currencies. Bigglobal players from fincancial sectors are already working on their own cryptocurrencies. But if we would want paper money, we would have it with paperwallets, mindwallets or physical bitcoins (   https://bitcointalk.org/index.php?topic=2080338.msg20792286#msg20792286 )      . So we are also weaponed for internet crash.
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August 16, 2017, 12:31:05 PM
 #3998

I am sure that paper money will exist along with electronic money, because there must be an alternative in case there is a failure or the Internet will be lost. Maybe they will not be so popular, but they will not disappear.
And I think that they will disappear. It is now widely distributed Bank cards and the number of purchases using credit cards has already exceeded the circulation of paper money. In many countries there are already restrictions on the purchase of expensive goods for cash. This suggests that the era of cash is nearing completion.
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August 16, 2017, 01:03:35 PM
 #3999

I'm sure, no more than 50 years paper money will disappear, this is because today many countries are transitioning transactions from cash (paper money) to digital, so slowly paper money will be disappear.
It may be possible that after 50 years paper money will disappear because nowadays most of the people prefer to digital currency like especially bitcoin because bitcoin is the strongest digital currency, so slowly slowly people will transfer their business to bitcoin transaction and paper money goes to lack its value.
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August 16, 2017, 02:08:36 PM
 #4000

I'm sure, no more than 50 years paper money will disappear, this is because today many countries are transitioning transactions from cash (paper money) to digital, so slowly paper money will be disappear.
It may be possible that after 50 years paper money will disappear because nowadays most of the people prefer to digital currency like especially bitcoin because bitcoin is the strongest digital currency, so slowly slowly people will transfer their business to bitcoin transaction and paper money goes to lack its value.
Some people prefer digital currency like bitcoin because it is more safe to use and we can have access to it wherever we are as long as there is internet plus we don't need the bank to store our money. Plus we can use it with our online transaction without giving our personal information.

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