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Author Topic: The future of the paper money  (Read 414589 times)
Netnox
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August 16, 2017, 02:15:30 PM
 #4001

I forgot the last time when I used paper money. 99% of the time, I use either my credit card, or internet banking for making payments. But even then, I would say that paper money is going to survive for at least the next 100 years. It is still used by billions of people. And I know elderly people who stash banknotes under their pillow, as they don't trust the banks.


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August 16, 2017, 02:22:18 PM
 #4002

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 maybe possible but it will take many process in every government and they need to analyze it first ,im sure they already kmow it and the government already spending in bitcoins or who knows if also in other altcoins. Paper money would be evolve and makes digital but not all things can buy with it. People are in need to use internet for transactions.


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Lieldoryn
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August 16, 2017, 02:28:58 PM
 #4003

I forgot the last time when I used paper money. 99% of the time, I use either my credit card, or internet banking for making payments. But even then, I would say that paper money is going to survive for at least the next 100 years. It is still used by billions of people. And I know elderly people who stash banknotes under their pillow, as they don't trust the banks.
In the elderly there is such a possibility because the paper money exist. If the government will cancel their use they have nowhere to go. Under the pillow they can store the gold. Paper money is only good for corrupt officials and black market.

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August 16, 2017, 02:50:44 PM
 #4004

I forgot the last time when I used paper money. 99% of the time, I use either my credit card, or internet banking for making payments. But even then, I would say that paper money is going to survive for at least the next 100 years. It is still used by billions of people. And I know elderly people who stash banknotes under their pillow, as they don't trust the banks.
I also think that paper money will continue to exist in the near future because the convenience and trust of users with paper money is huge, it has become habit of many people for so many years, it is still very popular. However, in the distant future, paper money will definitely disappear, instead we will switch to using digital technology, it will make transactions happen faster and more convenient than ever, modern technology is the way we develop more in the future.

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August 16, 2017, 03:05:48 PM
 #4005

I forgot the last time when I used paper money. 99% of the time, I use either my credit card, or internet banking for making payments. But even then, I would say that paper money is going to survive for at least the next 100 years. It is still used by billions of people. And I know elderly people who stash banknotes under their pillow, as they don't trust the banks.
I also think that paper money will continue to exist in the near future because the convenience and trust of users with paper money is huge, it has become habit of many people for so many years, it is still very popular. However, in the distant future, paper money will definitely disappear, instead we will switch to using digital technology, it will make transactions happen faster and more convenient than ever, modern technology is the way we develop more in the future.
We need paper money to do small transactions like buying something in shoppes below $10. this is the major reason why we need paper money because the small stores will not accept credit card and other digital transactions except few countries. Maybe in UK, US and all, they accept, but in my country, we need to buy daily needs with real cash.

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August 16, 2017, 05:11:28 PM
 #4006

For next few decades paper money will continue to exist if computerized technology-based financial system isn't evenly used by countries around the world. It's just the turnover may be slightly reduced as many countries move to non-cash payments.

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August 16, 2017, 06:37:25 PM
 #4007

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

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.
Wake up! More than 95% of transactions in Western world are already executed electronically. Nearly 100% of that 95% made by companies, and only we, the people, still use paper money, making it difficult for the Big Brother to know every our purchase. Only cash can offer you a true privacy. If you believe that you can really hide your purchases with blockchain, forget it! And when they pull the crypto currencies out of the socket, don't whine that they have taken all of your money again and blame no one but your greed for that! Play with it, but never put all of your savings in it! Cause you never know when the music stops, and there will be no chair left there for you!
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August 16, 2017, 08:43:52 PM
 #4008

The future now is the cryptocurrencies and it is more easy to buy anything
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August 17, 2017, 12:26:26 AM
 #4009

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?

At the rate digital currencies are goin today, I'd say it's not far fetched that paper money may be phased out. But the idea of wiping it out entirely is close to impossible and this will entail a bloody process if it should be considered. Fact is, we are more fond of holding things physically...and it would be difficult to withdraw from it. But if I would give a probable estimated time for its existence, I'd say about 15-20 years..It will work if the people in the high seats will say it will work...and I'd say we won't be able to do anything about it if it gets implemented..There are always risks in any change..pros and cons always go together...

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August 17, 2017, 07:05:28 PM
 #4010

I forgot the last time when I used paper money. 99% of the time, I use either my credit card, or internet banking for making payments. But even then, I would say that paper money is going to survive for at least the next 100 years. It is still used by billions of people. And I know elderly people who stash banknotes under their pillow, as they don't trust the banks.
I also think that paper money will continue to exist in the near future because the convenience and trust of users with paper money is huge, it has become habit of many people for so many years, it is still very popular. However, in the distant future, paper money will definitely disappear, instead we will switch to using digital technology, it will make transactions happen faster and more convenient than ever, modern technology is the way we develop more in the future.
There is no doubt in the fact that people are really comfortable with paper money especially the elderly people who lack knowledge about technology. Paper money is not easy to be eradicated from the world forever. What I believe is that the digital currency will accompany paper money in the near future.

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August 18, 2017, 03:01:41 PM
 #4011

At the rate digital currencies are goin today, I'd say it's not far fetched that paper money may be phased out. But the idea of wiping it out entirely is close to impossible and this will entail a bloody process if it should be considered. Fact is, we are more fond of holding things physically...and it would be difficult to withdraw from it. But if I would give a probable estimated time for its existence, I'd say about 15-20 years..It will work if the people in the high seats will say it will work...and I'd say we won't be able to do anything about it if it gets implemented..There are always risks in any change..pros and cons always go together...
Paper money is already almost whipped out in the so called "civilized world" and is supported mostly by elders and "paranoiacs" fighting Big Brother. Believe it or not, you won't like at all the world where tangible money is totally wiped out. Bankers try hard to build that 100% electronic transactions transparent "paradise" for decades now; and if you think they care about our prosperity or do not control (or even fight) crypto curencies, think twice. As of pros and cons... if something can go wrong, it will... there is no doubt about it (the problem is not getting profit with crypto "money", since every financial pyramid is profitable at first, but getting out of it into tangibles before it goes up in smoke).
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August 18, 2017, 03:29:17 PM
 #4012

The future of paper money will never be replaced even though bitcoin will become increasingly popular among the people, as paper currency in each country has a more valuable historical value. Local people in the future will continue to use paper currency as the primary payment symbol in each country.

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August 18, 2017, 05:01:24 PM
 #4013

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

In future bitcoins are going to take on all the currency as it gonna become the most valuable currency in the world and also the world market day by day so I think I will be in Bollywood movie
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August 18, 2017, 05:11:57 PM
 #4014

The future of paper money will never be replaced even though bitcoin will become increasingly popular among the people, as paper currency in each country has a more valuable historical value. Local people in the future will continue to use paper currency as the primary payment symbol in each country.
It all depends on the position of the state. Just a volitional decision to paper money disappeared. All wages and allowances will only be issued to a Bank card and cash at receipt in Bank are withdrawn from circulation.

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August 18, 2017, 05:31:46 PM
 #4015

I think that the paper money will last forever.
It is the easiest way to do transactions. Because Cryptocurrencies is so complicated and need a lot of resources ( internet and ... ).
But the paper money is more simple.
krisnt80
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August 18, 2017, 10:14:34 PM
 #4016

I don’t see paper money keep being printed as todays, in the future we will use digital money for all things, cryptocurrencies are an example of how the future will became on the next 50-100 years, we do a lot things online already soo its normal we move into digital currencie.

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August 18, 2017, 10:25:46 PM
 #4017

I think the users of paper money will not be banned and will still be used. It's just that enthusiasts of paper money in the future will be few. Life in the future will be very instant. As well as in payments. Future banknotes will no longer be used. People prefer to use digital money from paper money because it is easier to use and not heavy to carry the digital money. Digita money will be used more often by companies and stores because the transaction is faster and easier.

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August 18, 2017, 10:34:12 PM
 #4018

I don’t see paper money keep being printed as todays, in the future we will use digital money for all things, cryptocurrencies are an example of how the future will became on the next 50-100 years, we do a lot things online already soo its normal we move into digital currencie.

They are being printed by the central banks and it will always be. As long as the state will not declare to stop printing they will keep on operation. I also guess that they are trying to consider now to improve and upgrade with the current phase of technology. Things are being transact now through digital, computer so digital money will be in and paper money will be out.

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August 18, 2017, 10:54:23 PM
 #4019

I don’t see paper money keep being printed as todays, in the future we will use digital money for all things, cryptocurrencies are an example of how the future will became on the next 50-100 years, we do a lot things online already soo its normal we move into digital currencie.

They are being printed by the central banks and it will always be. As long as the state will not declare to stop printing they will keep on operation. I also guess that they are trying to consider now to improve and upgrade with the current phase of technology. Things are being transact now through digital, computer so digital money will be in and paper money will be out.

Maybe there is a way to tie cash to a decentralized stable cryptocurrency
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August 18, 2017, 11:13:05 PM
 #4020

I don’t see paper money keep being printed as todays, in the future we will use digital money for all things, cryptocurrencies are an example of how the future will became on the next 50-100 years, we do a lot things online already soo its normal we move into digital currencie.
i think we cannot ignore the importance of paper money in near future. i think it will run  for a long time because majority of people still do not know about bitcoin. and they will continue using fiat paper for a long long time.

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