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Author Topic: The future of the paper money  (Read 403595 times)
setupbounds
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August 31, 2017, 01:49:14 PM
 #4121

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, 01:54:31 PM
 #4122

I think you can not demand from all people to use electronic money. Especially the older generations will be not happy and try to find other things as a value storage like silver or gold coins.

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August 31, 2017, 04:05:15 PM
 #4123

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
 #4124

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
 #4125

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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September 01, 2017, 02:28:58 PM
 #4126

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 think that if there something made by some people that have more power in our society, definitely that it won't let happen and they will control on there surroundings right?

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September 01, 2017, 02:40:07 PM
 #4127

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
It doesn't matter. If people decide that bitcoin is more profitable for them they will simply stop using paper money. Even if bitcoin will be banned people will change it into dollars or euros, but the rupee may die.

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September 01, 2017, 02:50:15 PM
 #4128

I think the future of paper money will be replaced by digital currency. even though it's their country's currency. people on the day prefer to carry credit cards rather than carrying money on the wallet. because they think carrying credit cards is easier for payment transactions and easy to carry. if you need 1 million. in a store .. mu gkin if you bring paper money on the wallet it feels very troublesome .. you alan difficulty in calculating the amount of your money. but not with digital ones .. you can bring whatever money you have into your credit card ..

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September 01, 2017, 02:51:16 PM
 #4129

For now, Bitcoin isn't popular, but paper money will end after many years. And after that, our Global currency would be BTC.

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September 01, 2017, 03:53:55 PM
 #4130

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.
yes currently we are not expecting that fiat currency will ever vanish. because currently most of the people of the world are depending on  fiat, and even those people who are using bitcoin still  they are using bitcoin as optional i think that they will even continue using fait alot with bitcoin uless all the people of the world start using bitcoin and all the facilities may also be available that we are using for fiat currency also.

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September 01, 2017, 04:16:31 PM
 #4131

Paper money will continue to exist. Because, it's difficult if the digital financial system is applied globally by a factor not all countries have same standard or quality of technology and human resources. Even many countries in African continent are less open with presence of bitcoin. Paper money still favored for global conditions now.

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September 01, 2017, 04:50:08 PM
 #4132

Paper money will always, they are more real than Bitcoin. For the experiment, this can be done, but I think that this will cause only problems, both for people and for the government. As they say virtual money, they are for that and virtual, that they can be seen, not touched.

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September 01, 2017, 11:24:19 PM
 #4133

It will still remain the same we are using paper .money for more than a million years changing to digital will never happen because everything will have a trace and all illegal activities can't be performed by the elites and our politicians they won't be able to earn second money because of digital

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September 01, 2017, 11:53:23 PM
 #4134

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 think everyone actually already knows the future of paper money, they certainly can see the use of paper money continues to decrease and many more people use credit cards or debit cards to shop, I think that's a sign of the future of paper money

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September 02, 2017, 12:13:55 AM
 #4135

In my own opinion it is posible that paper money will be replaced by digital currency. This is due to the increasing level of our technology. And one day all the countries in the world will be implementing the cash less society.

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September 02, 2017, 01:23:04 AM
 #4136

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?

of course this will be a difficult decision. I think, a country will never stop the circulation of paper money, although cant deny bitcoin is currently very popular as a digital currency. this is also very risky when the paper money is removed and replace it with digital currency, the hackers will definitely try to break into a security site that keeps our digital money balance. because if the paper money is replaced by bitcoin, then all countries in the world will use the same currency.

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September 02, 2017, 01:37:06 AM
 #4137

Paper money will stay forever.
Why? Because its easier to make than coins.


Paper money is still there because bitcoin is made due to the needs in the digital world. Many of us is thinking what comes tomorrow because they are afraid that everything will be replaced by technology. However I'm still believe that paper money will last forever.

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September 02, 2017, 01:39:36 AM
 #4138

Paper money will stay forever.
Why? Because its easier to make than coins.


Paper money is still there because bitcoin is made due to the needs in the digital world. Many of us is thinking what comes tomorrow because they are afraid that everything will be replaced by technology. However I'm still believe that paper money will last forever.

I dont think that it will last forever, but it wont be replaced soon. I know that technologies are too advanced and probably all members of this forum wants paper money to be replaced, but the entire world doesnt want that.
I wouldnt like to only pay with bitcoins, i really like having the paper money, and bills are pretty, i like holding them.
So i dont think that will happen, and if it happen, i dont think that it would be bitcoin, since there is not even 0.02% of the population that uses bitcoin.

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September 02, 2017, 02:40:57 AM
 #4139

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
 
When bitcoin is promoted to all nations bitcoin will be the currency to all fthe world.If all people used bitcoin paper money  will be no more because digital money is more easier to use in any kind of electronics transactions.I think so its more convinient to use it at all times.

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September 02, 2017, 03:39:07 AM
 #4140

Paper money being banned entirely will be impossible,then if it will happen im pretty sure by that time government will be out also.Even if bitcoins will gain more popularity and praises from users and people in future paper money will never be gone ,
Government has an important role to disseminate peace in our society so it can't be removed from one country.


This is only unless if the monetary system of the world will not change or when the government does not create a altcoin like etherium to be like a digital cash. Imagine if they announced something like " We are going to turn dollar to digital cash and any form of digital cash except dollars in the USA will be prohibited or something like that. To do that they will feed people lots of wrong information about bitcoin and then they will poison the mind and hearts of every people and then some countries will follow that step " every country is turning their money into digital cash and then bitcoin will reduced its market cap and its price will go down.
But I guess that's unlikely to happen because bitcoin is the leading pioneer in these state and before they are going to turn their money into digital cash I think everyone will know about bitcoin and they will fight for their wants to make this digital cash as a reserve or as a digital currency not mentioning that some well known countries are open in regulating BTC. Im seeing bitcoins price in a 5000 dollars mard this year.
I'm seeing also bitcoin will reach 5000$ before the year ended.


That I already give Bitcoin a price so high, but I will consider it in bitcoin as a means of payment, And as a commodity, thanks to which I can earn or invest my finances. Therefore Bitcoin I will never perceive as a substitute for paper money.
It isn't lead to replace a new currency like bitcoin, paper money is always a paper money. It's part of our economy and society.

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