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Author Topic: The future of the paper money  (Read 414692 times)
Gheka
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August 28, 2017, 05:15:49 PM
 #4101

still, people have a good feeling to the paper money, they feel comfortable to use paper money for the purpose of daily activities. though day by day the using of plastic money is increasing paper money still a symbol of currency. mass people still depend on the paper money although it has a negative side regarding security. but paper money will dominate as like today.

Yes people find it easy to use paper money as they are using it since its inception and bitcoin is totally new concept for many people and I doubt that older generation will ever start using bitcoins as they would find it complicated and even would be having a fear of loosing it as they may be scared of internet and online stuff which will keep them away from using bitcoins.
Older generation is highly reluctant to step into crypto world because they hate the complications of operating digital currencies. There will always be bale supporting paper money and they would not let paper money disappear forever. I believe that paper money will exist with bitcoins in the near future.
Well, of course, paper money will still exist in the future, but I think the amount of paper will be decrease because use of paper money has a habit or we can say it is tradition, abandoning it is difficult to happen, and digital technology is developing, we'll transactions through bank cards in the future and limit the use of paper money. At present, my country is carrying out this plan, they want to develop more economy in the future and build a friendly environment, not deforestation.

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August 30, 2017, 04:24:20 AM
 #4102

I think another possibility that will happen is, Banknotes are still valid, digital currency may be considered valid by every Bank in the world, but may require a very long and long process, it could be successful if approved by the Government and bank banks in each country, Security risk! This may be a constraint, because it will be the generation of new breeders of account breakers or IDs, as has happened to some ATM machines, but with Bitcoin as a digital currency may add some Privacy like password hint and other sebainya, while public money will interact as usual
that is the short term possibility , in the future paper money might completely get disappeared.

as everything could be done digitally , people will think about why they still need an outdated one? as technology basically help our lives into better and easier . paper money also are not environmentally friendly , technology could completely takeover our daily lives.
I don't think so that Fiat Currency will disappear entirely. I'll let you in for one big argument. If we are a cashless society what will the countries based their wealth in? If their basis only exist virtually? I don't think that any country would allow that to happen because it is to much to ask. Also accepting a cashless society is also accepting that other people (especially the rich ones) to control the money you have like Bitcoin which we all know can be controlled by big holders of the cryptocurrency. 
Even the so called modern people will also not support going cashless completely. Fiat has its own importance and has been there for centuries. No country would like to totally depend on internet. Nobody is fool enough to have an economy based on digital world forever. Digital currencies can be present with fiat but they both can’t replace each other.


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August 30, 2017, 05:12:32 AM
 #4103

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 of paper money will not last long, because paper money made of paper and paper made of wood if the banknotes are still in use in the future the amount of wood will decrease as well as the world will experience tremendous heat, therefore the digital money is the answer to money in the future,

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August 30, 2017, 06:09:25 AM
 #4104

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 of paper money will not last long, because paper money made of paper and paper made of wood if the banknotes are still in use in the future the amount of wood will decrease as well as the world will experience tremendous heat, therefore the digital money is the answer to money in the future,
That is not a valid reason, if woods is only the problem then its easy to plant, we should be discussing here a more deep reason why paper money will not gonna stay which IMHO will remain in circulation. The world is changing but you cannot change all the people to adopt with the new technology or what they called digital currency, it's a free world and anyone can use what he feels he is comfortable and paper money gives that convenience.

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Livictere1958
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August 30, 2017, 01:55:55 PM
 #4105

The way forward for paper cash is not too vibrant if you're searching in the far future. Paper cash is very outdated and can die once.

However I believe that time continues to be a long way away since people appear to become scared for change when it is about currency.
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August 30, 2017, 03:52:29 PM
 #4106

Everything will change, including with paper money. the time will come when paper money will disappear and be replaced with digital money or other technology. I'm sure 50 more years paper money will disappear.

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August 30, 2017, 04:19:48 PM
 #4107

I think the paper money will not disappear soon
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August 30, 2017, 04:40:00 PM
 #4108

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
Paper money or what other called fiat is actually a form of currency that is serve a good form on transaction. But in terms of innovation and development for the future having crypto-currency or virtual money is the best thing to have becauae it can make transaction faster and reliable for business transactions. It could also open up opportunities for people to earn and to make profit for future and adaptation of changes of the economy.

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August 30, 2017, 09:40:14 PM
 #4109

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 of paper money will not last long, because paper money made of paper and paper made of wood if the banknotes are still in use in the future the amount of wood will decrease as well as the world will experience tremendous heat, therefore the digital money is the answer to money in the future,
That is not a valid reason, if woods is only the problem then its easy to plant, we should be discussing here a more deep reason why paper money will not gonna stay which IMHO will remain in circulation. The world is changing but you cannot change all the people to adopt with the new technology or what they called digital currency, it's a free world and anyone can use what he feels he is comfortable and paper money gives that convenience.
Lol! That’s really ludicrous if paper money is going to disappear just because world is going to run short on plants or wood. That’s not going to happen anyway. Paper money will remain there forever along with digital money. People are going to use both for their convenience. Both have their own attributes.

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August 30, 2017, 09:48:22 PM
 #4110

Well paper money is still used in currencies all over the world but I don't think that paper money has a bright future ahead with this e wallets and credit cards on the corner. Because paper money has many disadvantages like it has a limited life because they get torn off. They cause corruption as they can be stacked up and there is no way to inspect the place where they are kept. Also they are easy to steal.

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August 31, 2017, 10:41:13 AM
 #4111

Paper money will not be vanished because paper money is very stable in the guard by the state government and paper money has its own use although there are many who already use debit cards, credit cards and other digital money such as bitcoin, there are some transactions that are handled with paper money and transactions that are handled with debit cards, credit cards and digital money.
Paper money will always be the main currency as a payment method in everyday transactions in real world

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August 31, 2017, 10:47:12 AM
 #4112

Paper money will not be vanished because paper money is very stable in the guard by the state government and paper money has its own use although there are many who already use debit cards, credit cards and other digital money such as bitcoin, there are some transactions that are handled with paper money and transactions that are handled with debit cards, credit cards and digital money.
Paper money will always be the main currency as a payment method in everyday transactions in real world

I don't agree with you. Paper money is a relic of the past. Now every year it reduces the circulation of paper money. I'm sure this trend will lead to the fact that paper money will completely disappear. The state is easier to control Bank money and illegal profits can hide in bitcoin.

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August 31, 2017, 10:50:44 AM
 #4113

Paper money will not disappear, because in the event of a global catastrophe, the Internet will disappear and all electronic currencies disappear. Even in the modern world, paper money is still needed.

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August 31, 2017, 11:21:48 AM
 #4114

It may take a very long time around 20 to 30 years if paper money vanish and it will probably only in developed countries, in still-developing countries it will be a few years longer than developed countries.
I may not be able to say that I don’t really like that paper money is going to disappear because the central government's financial system is strictly controlled
 

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August 31, 2017, 11:38:28 AM
 #4115

Paper money will not be vanished because paper money is very stable in the guard by the state government and paper money has its own use although there are many who already use debit cards, credit cards and other digital money such as bitcoin, there are some transactions that are handled with paper money and transactions that are handled with debit cards, credit cards and digital money.
Paper money will always be the main currency as a payment method in everyday transactions in real world

I don't agree with you. Paper money is a relic of the past. Now every year it reduces the circulation of paper money. I'm sure this trend will lead to the fact that paper money will completely disappear. The state is easier to control Bank money and illegal profits can hide in bitcoin.

I have no problem with disagreement with you, but here I only give an opinion because there are still many countries that refuse cash payment for official payments could be paper money destroyed but it takes a very long time about tens of years to come, easier to Control if virtual money replaces paper money but countries that make virtual money decisions to replace paper money will be difficult to change the state financial system and change the rules of the state money trade into virtual money used.

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August 31, 2017, 12:15:29 PM
 #4116

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.
Kinda true, but I see the advantage that if sooner bitcoin may be use as payment for transactions worldwide and paper money will be after it I think it os a good idea, the only thing I see why governments may reject the capabilities of bitcoin is that the power will take away from their hands and they dont like that so probably they will do some actions.

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August 31, 2017, 01:49:14 PM
 #4117

I think the paper money will not disappear soon
I will second you. You can never expect that paper money will be vanished from this world. Both the paper money as well as Bitcoins carries equal importance at their own places and I don’t think they will effect each other this much.

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August 31, 2017, 04:05:15 PM
 #4118

I think the paper money in Indonesia will continue to apply. Because the government considers the rupiah to be a legitimate payment, bitcoin is not a valid money for payment
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September 01, 2017, 11:19:20 AM
 #4119

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.
Paper money cant just disappear. Bank accounts and debit cards have already immerged but are used as a digital currency. Paper money are a traditional way of buying/selling commodities. Each countries individual paper miney represents the specific country. Even the Economy for the country can be decided from the currency. Paper money was the starting for everything. Perhaps in some more years it can be used for a very small extent.


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September 01, 2017, 12:19:14 PM
 #4120

I hope in future we no need paper money and credit cards anymore, just only payment prog in phones
Yes, and it is the reason we are entering the digital world. Paper money will be surely been used in some or another parts of the world. Not everyone can use digital payments. Lack of technology, knowledge can force people to use paper money instead of risking their money in digital payments. Even now, some applications are been created to make online payments including various wallets, etc. Crypts can also be a part of this new revolution but it would take double time to explain people what cryptos are.



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