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Author Topic: The future of the paper money  (Read 404004 times)
shiunsai
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September 14, 2017, 05:01:24 AM
 #4201

The future of paper money is safe as I don't see any threat to it from bitcoins as paper money is widely used and accepted and that is not the case with bitcoins at a moment and even in future if bitcoin becomes more popular still there will be many bunch of people who will prefer to use paper money and not bitcoins.

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gekon
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September 14, 2017, 05:12:44 AM
 #4202

Paper money is losing their own advances, too hard to carry, each country has their own currency, time will destroy the quality of paper. So digital money in about 20 years will replace paper money for sure. Digital money easily can be use on payment, undestroyable, all the world has the same currency.
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September 14, 2017, 05:34:27 AM
 #4203

Paper money is losing their own advances, too hard to carry, each country has their own currency, time will destroy the quality of paper. So digital money in about 20 years will replace paper money for sure. Digital money easily can be use on payment, undestroyable, all the world has the same currency.
The paper money will not completely disappear or replaced by the digital money and i can see that after 20 years the the mobile payments will become the trending and a lot of people will be using that because it is easier to pay things using mobile phone and we don't need to carry wallet anymore and that is can be powered by the cryptocurrencies or even the fiat money.

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September 14, 2017, 06:07:08 AM
 #4204

Paper money will still be use worldwide, though some of them may lost its value but not all people ca access to cryptocurrency due to its technological advancement. Some people do not know how to use phones and computers and cannot afford to buy smartphones.

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September 14, 2017, 06:17:15 AM
 #4205

Paper money will still be use worldwide, though some of them may lost its value but not all people ca access to cryptocurrency due to its technological advancement. Some people do not know how to use phones and computers and cannot afford to buy smartphones.
If there is a change it will be slowly until all the people have fully adopted which I think will take time.
Paper money will not be lost in the circulation as there are more people who will prefer using it than digital currencies especially the old once, it's just a matter of preference and old people are more convenient in using the money that get used to.

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September 14, 2017, 06:28:57 AM
 #4206

I don't think paper money will be banned or replaced by digital currency completely. I think paper money will still exist and will not be completely displaced by digital currency, especially in my country. Although digital currencies will continues to be more popular, will not completely shifting paper money, both will continues to existing and used by peoples i guess.

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September 14, 2017, 06:41:33 AM
 #4207

Paper money would still be part of our future, its circulation will not stop. Many people around the world can't afford gadgets or latest technologies because of poverty, some don't know how to use it and only depends on free access by internet service provider. So they will always choose to use paper money for daily transactions.

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September 14, 2017, 06:53:40 AM
 #4208

Paper money will still be use worldwide, though some of them may lost its value but not all people ca access to cryptocurrency due to its technological advancement. Some people do not know how to use phones and computers and cannot afford to buy smartphones.
If there is a change it will be slowly until all the people have fully adopted which I think will take time.
Paper money will not be lost in the circulation as there are more people who will prefer using it than digital currencies especially the old once, it's just a matter of preference and old people are more convenient in using the money that get used to.
Paper money will never fade.  It is the simplest thing whenever we transact. Also, a lot of people can’t afford to buy gadgets and don’t have access in the internet. Anyhow, majority of people still prefer fiat because they are comfortable using it.

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September 15, 2017, 06:57:38 AM
 #4209

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


The paper money will exist forever because no matter how many bitcoin we have keep in our wallet in the end we will  convert it into cash. Many people around the globe dont know how to use bitcoin and they dont know how it works especially the uneducated or the poor who not even know how to use computer for digital transactions.
Paper money has its own place in the world economy system and I think it is really absurd to compare bitcoins and paper money or to think that one is going to replace another forever. This is really not possible because we need both systems of currencies in to meet the demands of present era.

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September 15, 2017, 10:21:44 AM
 #4210

I think paper money will disappear because governments want to, and we are already in the process. Digital transactions go up every year and cash is used less. I personally pay almost everything with my mobile.

This poses a threat to the people because once paper money disappears governments will have a complete control on your wealth. They will know what you spend every penny on, they will be able to seize all your FIAT money, banks will also be able to charge high fees for current account and so on.

BTC is what can protect us from those threats, so I believe in the future paper money will disappear but, at least in the beginning, fiat digital currencies and alternative currencies like BTC will co-exist.

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September 15, 2017, 10:22:04 AM
 #4211

you can't imagine the world without paper money, it is impossible to ban paper money for ever. do you know how many people are using plastic money and card?
I think this number is very small in comparison to the whole population. and virtual currency also being used by the small number of people. most of the people are feeling comfortable to keep or use paper money still now. regarding paper money, only security is the problem in order to carry out, but for me, still, there is nothing to be a replacement for paper money. so it will last for ever.
Indeed that is what i also think about the paper money. It is impossible for the paper money to be ban or not used by the people around the world because paper money is one of the most important thing for a person and if paper money will be ban and if it is going to be replaced by the virtual currencies then it might just be a chaotic situation because of the not sureness of its value because of volatility.
Agree, I was not believe that paper money of each country will diminish. Because each nation set a paper money to symbolize their country and their value of their currency. However, even bitcoin is international currency I think it takes so many years before bitcoin erase the paper money or else nothing.
there is no doubt in the fact that paper money ahs strong roots in world economic system and they are going to have a good future too. No country is going to replace their national currency with bitcoins or any other digital currencies since they are good for investments. Digital currencies are meant to unite all by becoming international currency.

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September 15, 2017, 02:41:58 PM
 #4212

you can't imagine the world without paper money, it is impossible to ban paper money for ever. do you know how many people are using plastic money and card?
I think this number is very small in comparison to the whole population. and virtual currency also being used by the small number of people. most of the people are feeling comfortable to keep or use paper money still now. regarding paper money, only security is the problem in order to carry out, but for me, still, there is nothing to be a replacement for paper money. so it will last for ever.
Indeed that is what i also think about the paper money. It is impossible for the paper money to be ban or not used by the people around the world because paper money is one of the most important thing for a person and if paper money will be ban and if it is going to be replaced by the virtual currencies then it might just be a chaotic situation because of the not sureness of its value because of volatility.
Agree, I was not believe that paper money of each country will diminish. Because each nation set a paper money to symbolize their country and their value of their currency. However, even bitcoin is international currency I think it takes so many years before bitcoin erase the paper money or else nothing.
there is no doubt in the fact that paper money ahs strong roots in world economic system and they are going to have a good future too. No country is going to replace their national currency with bitcoins or any other digital currencies since they are good for investments. Digital currencies are meant to unite all by becoming international currency.
Digital money like the cryptocurrencies are created for different purpose and the physical currency or the regular money like fiat is created for a different reason and that is why they are not replacing each other because they are here in our world for their own purpose and we don't need them to get replaced by one another because we want to see a two currencies that are working together.

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September 15, 2017, 03:19:30 PM
 #4213

well it is impossible to be ban the paper money because it has so many use in this country using bitcoin is more risky in using it as currency because there are so many things that bitcoin encounter. problems in transactions like that. so the future of the paper money is still the same bright.

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September 15, 2017, 03:41:56 PM
 #4214

Its possible that eveyone will stop using paper money soon. In this age where almost every people depends on computer and electronics,  its becoming practical to use phones in transaction and digital currency are gaining popularity. Though the issue here are security since for many with the knowledge in hacking can gain access to our wallet and theres no such thing as 100 percent secured.

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September 16, 2017, 01:06:47 AM
 #4215

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?


I don't think government would accept that entirely. How about those illiterate people how will they be able to do transactions sure it will be hard on their part. How about the network fails what could happen.

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September 16, 2017, 02:56:46 AM
 #4216

The future of everything related to the paper will disappear, now the initial sign has started, many people who prefer transactions with digital money so they slowly leave paper money.

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September 16, 2017, 03:08:21 AM
 #4217

Paper money seems to fade in the future because if everybody aims to have convenient and efficient in processing money, Using cryptocurrency are the  simple means to deliver comfortable way of living , in terms of processing payment and other transactions.

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Falgorn
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September 16, 2017, 03:42:58 AM
 #4218

I think that paper money will never disappear. No government will want to completely switch to the digital currency, as this will bring chaos to the economy of the country. Now the material value in each country is determined by the annual gross income and gold stock. Proceeding from this, the country's economy is being built, a certain amount of paper money is printed. What to build an economy, if you switch to a digital currency?

Tukang Becak
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September 16, 2017, 05:11:00 AM
 #4219

I think that paper money will never disappear. No government will want to completely switch to the digital currency, as this will bring chaos to the economy of the country. Now the material value in each country is determined by the annual gross income and gold stock. Proceeding from this, the country's economy is being built, a certain amount of paper money is printed. What to build an economy, if you switch to a digital currency?
I think paper money is very likely to disappear, what can replace paper money is digital money, digital money is certainly easier to control because the government has full access compared to paper money.

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michnelli6
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September 16, 2017, 06:14:03 AM
 #4220

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


The paper money will exist forever because no matter how many bitcoin we have keep in our wallet in the end we will  convert it into cash. Many people around the globe dont know how to use bitcoin and they dont know how it works especially the uneducated or the poor who not even know how to use computer for digital transactions.
Paper money has its own place in the world economy system and I think it is really absurd to compare bitcoins and paper money or to think that one is going to replace another forever. This is really not possible because we need both systems of currencies in to meet the demands of present era.
Paper money is what we call cash, and I don’t think anything will stop cash from being in existence. Paper money is the number one thing the world needs, and it has been around in the olden days such as cowries, gold, silver, rubies and diamond. So you can’t say you want cash to stop existing.
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