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Author Topic: The future of the paper money  (Read 415014 times)
flower1024
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August 23, 2017, 06:22:47 PM
 #4061

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem  but only on  a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Basically, paper money is the main thing used by everyone. Because it is only with paper money we can get something that can not be obtained by with other currencies such as cryptocurrency. Because it is now cryptocurrency can not be used like banknotes, but for investment cryptocurrency is very supportive to get many benefits. Because now cryptocurrency has been ogled by most people, so the higher the price and certainly provide many advantages. Because the system is very good and profitable.
In the future paper money was still functioning, because more of the people was cannot follow to the flow of technology. Due to poverty and lack of education more people in the world wasn't know how to used different kinds of gadgets. That's why in my opinion even thousand years past paper money wasn't vanished.
We also understand if want use Bitcoin, need have a good PC for store Bitcoin and a internet stable for connection network. Of course, with poor country like in Africa, they can't enough this requerements and never have opportunity use Bitcoin.
I think according to me except few backlog countries, in all country we have an internet connection and to access we have systems and mobiles. But still, why we need paper money means to do small money transaction in our daily life. And you are right all are not educated to use bitcoins. Some people will have high class mobile and all, but they don't know how to use the digital currency they only prefer paper money. So paper money will never lose its value.   
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August 23, 2017, 07:35:09 PM
 #4062

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem  but only on  a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Basically, paper money is the main thing used by everyone. Because it is only with paper money we can get something that can not be obtained by with other currencies such as cryptocurrency. Because it is now cryptocurrency can not be used like banknotes, but for investment cryptocurrency is very supportive to get many benefits. Because now cryptocurrency has been ogled by most people, so the higher the price and certainly provide many advantages. Because the system is very good and profitable.
In the future paper money was still functioning, because more of the people was cannot follow to the flow of technology. Due to poverty and lack of education more people in the world wasn't know how to used different kinds of gadgets. That's why in my opinion even thousand years past paper money wasn't vanished.
We also understand if want use Bitcoin, need have a good PC for store Bitcoin and a internet stable for connection network. Of course, with poor country like in Africa, they can't enough this requerements and never have opportunity use Bitcoin.
Yep! To enjoy this innovation, we definitely need internet connection and a good laptop or PC as well. This is the only thing we need to work with bitcoins. Developing countries and under developed ones do lack such facilities and it is really sad that these talented people are missing on this technology.
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August 23, 2017, 10:09:35 PM
 #4063

The days for paper currency are limited. Everything is going from plastic cards to mobile to maybe what else. The good thing is, bitcoin is able to grow with this innovation and transformation in money. In essence the innovation is powered by bitcoin.
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August 23, 2017, 10:12:58 PM
 #4064

Paper money will be used for at least a century longer as the kids growing up these days are still going to use it and even their kids and it will take a few generations before this changes.



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Gozie51
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August 23, 2017, 10:53:08 PM
 #4065

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem  but only on  a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Basically, paper money is the main thing used by everyone. Because it is only with paper money we can get something that can not be obtained by with other currencies such as cryptocurrency. Because it is now cryptocurrency can not be used like banknotes, but for investment cryptocurrency is very supportive to get many benefits. Because now cryptocurrency has been ogled by most people, so the higher the price and certainly provide many advantages. Because the system is very good and profitable.
In the future paper money was still functioning, because more of the people was cannot follow to the flow of technology. Due to poverty and lack of education more people in the world wasn't know how to used different kinds of gadgets. That's why in my opinion even thousand years past paper money wasn't vanished.
We also understand if want use Bitcoin, need have a good PC for store Bitcoin and a internet stable for connection network. Of course, with poor country like in Africa, they can't enough this requerements and never have opportunity use Bitcoin.
Yep! To enjoy this innovation, we definitely need internet connection and a good laptop or PC as well. This is the only thing we need to work with bitcoins. Developing countries and under developed ones do lack such facilities and it is really sad that these talented people are missing on this technology.

That is one reason I'm of the view that paper money can be over taken by crypto since technology is fast improving.  Thus, other part of the world might key in soonest with the growth of technology.

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August 23, 2017, 11:15:35 PM
 #4066

Paper money will exist, because that people with organic opportunities themselves can not use electronic currencies and this will be a problem for a sufficient number of people.
Paper money surely exists, because paper money usage among users were common and for bitcoin usage certain knowledge is a must. So people always tend to invest onto bitcoin for a better earning rather than using it more as a currency. This keeps paper money being used forever even when majority of the things happen digitally.

I agree, paper money will still exist in the future but not that many compare from recent years like now. That would be optional if cashless society will come to reality,  I think we can regulate the print outs of genuine fiat cash money. I think it would be better if government will toke over the regulations on these because paper money is very hot to eyes of evilous people who steal and commit crimes due to money matters.


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August 24, 2017, 01:32:49 AM
 #4067

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?
Yes, Some day we'll leave phisical money but I think Not entirely. Even now there are bunch of people who still use a barter method in their daily transaction.
How long do you think that happens? Maybe a few more decade
would it work? Of course,
What security and privacy risks would it raise? Safe from criminals, robery, and time to time privacy policy become much better .
And how would public and privately issued monies interact? I can't answer this
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August 24, 2017, 01:50:16 AM
 #4068

Perhaps the future of paper money will be used by the underclass. They use paper money to buy groceries in traditional markets. But for the economy either .. the use of banknotes in the future very rarely used. Because it is not simple. They use more digital money shaped cards for the payment process is simple and easy. Carrying paper money in the future is considered very complicated .. they must carry a wallet containing a limited amount of banknotes. But carrying digital money just needs a card that contains a lot of digital money. Therefore perhaps in the future people prefer to use digital money

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August 24, 2017, 05:30:50 AM
 #4069

Paper money will exist, because that people with organic opportunities themselves can not use electronic currencies and this will be a problem for a sufficient number of people.
Paper money surely exists, because paper money usage among users were common and for bitcoin usage certain knowledge is a must. So people always tend to invest onto bitcoin for a better earning rather than using it more as a currency. This keeps paper money being used forever even when majority of the things happen digitally.

I agree, paper money will still exist in the future but not that many compare from recent years like now. That would be optional if cashless society will come to reality,  I think we can regulate the print outs of genuine fiat cash money. I think it would be better if government will toke over the regulations on these because paper money is very hot to eyes of evilous people who steal and commit crimes due to money matters.
The demand will be lessen as we are going to a digital world and with that the government will not gonna print paper money anymore.
There is a chance that paperless or digital currency will completely be implemented but it will surely gonna take a lot of time before it will happen.


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August 24, 2017, 06:19:21 AM
 #4070

Paper money will exist, because that people with organic opportunities themselves can not use electronic currencies and this will be a problem for a sufficient number of people.
Paper money surely exists, because paper money usage among users were common and for bitcoin usage certain knowledge is a must. So people always tend to invest onto bitcoin for a better earning rather than using it more as a currency. This keeps paper money being used forever even when majority of the things happen digitally.
Paper money still has a big role to play in the future of money because it still has a big community using it as compared to a fraction of what bitcoin has unless we decide to change all this by having more blockchain based services disrupting the fiat way of life to encourage people using virtual currencies for their everyday necessities.

In couple of tens years paper money will go in past. Who are paying by cash in big cities today? Only tourists maybe. Everybody moved on cards and payment apps already. So the idea of the cashless world is going to be our nearly future. I believe in that.

Money will become obsolete if the people in the whole word will use bitcoin but we don't really know when because not all countries are in advance technology specially the 3rd world countries. Most of the people living in these countries don't know how to use computers because of poor education. Engage in bitcoin must know how digital system works. 
We are a long way from a world that embraces virtual currencies unless the central banks and governments are in support of digital money.




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August 24, 2017, 08:06:01 AM
 #4071

I don't think that paper money will ever be out of use. Governments need it as a manipulative tool. It's as simple as that

I think there is nothing that is impossible since the only thing that  remains constant is change.
Do we still remember that cowries was used in recent past?
well bitcoin has a bright future as compare to the bitcoin because the worth and the value of the bitcoin is growing and it is more value able than the paper money so bitcoin can even replace the paper money but it will take good time because to make it done the organizer need to have a proper plane to make the use of bitcoin legal and easy and the wallets are making bitcoin more save than other currency
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August 24, 2017, 08:12:18 AM
 #4072

I can't believe how stupid people are.
The reason for bitcoin is that it cannot be controlled by a government.
The reason that cash exists is that (1) ordinary people and certainly the poor heavily rely on it and (2) it cannot be controlled by the government as much and people want to keep on using it for that reason.

Abolish cash is like abolishing bitcoin and will  put government in total control of our money and what we spend it on.

Things like negative interest rates are next.
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August 24, 2017, 08:12:46 AM
 #4073

I think that paper money will exist along with electronic money. The banking system has long existed and will not allow the complete disappearance of paper money.

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August 25, 2017, 09:33:10 PM
 #4074

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem  but only on  a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Basically, paper money is the main thing used by everyone. Because it is only with paper money we can get something that can not be obtained by with other currencies such as cryptocurrency. Because it is now cryptocurrency can not be used like banknotes, but for investment cryptocurrency is very supportive to get many benefits. Because now cryptocurrency has been ogled by most people, so the higher the price and certainly provide many advantages. Because the system is very good and profitable.
In the future paper money was still functioning, because more of the people was cannot follow to the flow of technology. Due to poverty and lack of education more people in the world wasn't know how to used different kinds of gadgets. That's why in my opinion even thousand years past paper money wasn't vanished.
We also understand if want use Bitcoin, need have a good PC for store Bitcoin and a internet stable for connection network. Of course, with poor country like in Africa, they can't enough this requerements and never have opportunity use Bitcoin.
Yes our future is full of digital system, so there must be strong digital currency be needed to make deals on these modern future, and I think bitcoin is working for a long time to make its place as a global digital currency in the future. Lot of people are smart enough that they start gathering their bitcoin because they know that it will help them a lot in the future.

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August 25, 2017, 10:19:52 PM
 #4075

I hope in future we no need paper money and credit cards anymore, just only payment prog in phones


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BeGoods
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August 25, 2017, 11:14:27 PM
 #4076

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem  but only on  a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Basically, paper money is the main thing used by everyone. Because it is only with paper money we can get something that can not be obtained by with other currencies such as cryptocurrency. Because it is now cryptocurrency can not be used like banknotes, but for investment cryptocurrency is very supportive to get many benefits. Because now cryptocurrency has been ogled by most people, so the higher the price and certainly provide many advantages. Because the system is very good and profitable.
In the future paper money was still functioning, because more of the people was cannot follow to the flow of technology. Due to poverty and lack of education more people in the world wasn't know how to used different kinds of gadgets. That's why in my opinion even thousand years past paper money wasn't vanished.
We also understand if want use Bitcoin, need have a good PC for store Bitcoin and a internet stable for connection network. Of course, with poor country like in Africa, they can't enough this requerements and never have opportunity use Bitcoin.
Yes our future is full of digital system, so there must be strong digital currency be needed to make deals on these modern future, and I think bitcoin is working for a long time to make its place as a global digital currency in the future. Lot of people are smart enough that they start gathering their bitcoin because they know that it will help them a lot in the future.
I think because the future of currency will be digital does not mean bitcoin will easily become the main currency in the world, I think though everything will be all digital in the future but bitcoin will still be difficult to become the main currency because of course the government will have a new idea to make fiat digital version to fit the times

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August 26, 2017, 04:11:22 AM
 #4077

That is a strange question indeed. The fact is that paper currency should have been gone a long time ago, at least 10 years. Debit cards, and bank accounts that represent government payouts was the last key to making this happen.

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August 26, 2017, 04:25:36 AM
 #4078

That is a strange question indeed. The fact is that paper currency should have been gone a long time ago, at least 10 years. Debit cards, and bank accounts that represent government payouts was the last key to making this happen.

And yet still paper currency is floating around. Once every single citizen in the United States had comfortable access to both direct deposit and any kind of government pay out that they were getting in the form of a debit card, that was the moment that paper currency issue disappeared.

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August 26, 2017, 04:28:14 AM
 #4079

I hope in future we no need paper money and credit cards anymore, just only payment prog in phones
This would not be possible because not all countries has a good infrastructures, the government care about the people and they cannot sacrifice the needs of the poor just to run a cashless government. What I see in the future is there will be more options to transact and that includes digital currency created by the government and bitcoin will progress, with that progress paper money will slowly to be lessen especially when people are willing to adopt with the new trend.

YAMZU

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August 26, 2017, 04:40:38 AM
 #4080

Paper money might be around for a while. It's basically a national identity. Unless governments start state-sponsored cryptocurrencies, I do not see that paper currency will be gone. But it seems that digitalising currency is a trend (look at the Scandinavian countries).
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