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Author Topic: The future of the paper money  (Read 403605 times)
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September 16, 2017, 03:42:58 AM
 #4221

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?

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September 16, 2017, 05:11:00 AM
 #4222

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
 #4223

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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September 16, 2017, 07:02:00 AM
 #4224

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.
The government would not make a decision that would not be the benefit of the majority or all the people, if paper money will be totally eliminated in the circulation that means there are great infrastructures improvement in different part of the world. The main thing that is needed is to educate and give internet in all areas of this world so people can easily transact wherever they are, although it's possible but it's not going to be fast process for adoption.

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September 16, 2017, 07:07:56 AM
 #4225

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.


Well I think they are not interested cause they dont see any potential in bitcoin ehich they can control bitcoin is centralized all the money that each of the forum user has been earning were distributed by their hands not with a certain leaders  think thats the reason why governments dont see bitcoin for coopertive act toward a change.
Paper money have been there for centuries and I don’t think so people will easily give up on using paper money since it is easy to deal in paper money. Indeed until and unless there are banks, paper money can’t be eradicated from the face of earth forever. Banks will never ever let this happen.

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September 16, 2017, 07:27:02 AM
 #4226

Although the use of digital money, debit cards and debit cards is getting massive, but I'm sure that paper money will continue to exist and can survive, this is because the government and the state will continue to protect paper money.

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September 16, 2017, 07:58:19 AM
 #4227

i think no future for paper money only future for virtual money or real one (gold or silver )
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September 16, 2017, 08:12:35 AM
 #4228

Although the use of digital money, debit cards and debit cards is getting massive, but I'm sure that paper money will continue to exist and can survive, this is because the government and the state will continue to protect paper money.
I think so ' we all need paper money and I think even there's have a digital money or credit card we also use paper money, and it will never gone for the future.

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September 16, 2017, 08:24:14 AM
 #4229

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
well paper money stays forever because paper money is some thing that seem necessary to run on market. and government leader are to much busy in their luxury life that they would never have time to focus on bitcoin stuff and find new for corruption through it, they are good on paper money.

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September 16, 2017, 09:11:38 AM
 #4230

Paper money will not entirel die buh gradually it will be wiped out of the system Paperless system will take over and crypto is here to stay

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September 16, 2017, 09:53:53 AM
 #4231

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?

my answer is consecutive to your questions.
It's possible
but will not last long (depends to the state of life of an individual)
It will work but not to all.
There will be many hackers that will attempt to hack bitcoin holders.
It will become complex.

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September 16, 2017, 10:10:10 AM
 #4232

Although the use of digital money, debit cards and debit cards is getting massive, but I'm sure that paper money will continue to exist and can survive, this is because the government and the state will continue to protect paper money.
I think so ' we all need paper money and I think even there's have a digital money or credit card we also use paper money, and it will never gone for the future.
Paper money will still exist in the future. A lot of people still prefer paper money because they’re comfortable with it. Also, bitcoin is for those people who are knowledgeable enough to use it. Majority of the people are not techy or internet savvy.

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September 16, 2017, 10:25:25 AM
 #4233

Although the use of digital money, debit cards and debit cards is getting massive, but I'm sure that paper money will continue to exist and can survive, this is because the government and the state will continue to protect paper money.
I think so ' we all need paper money and I think even there's have a digital money or credit card we also use paper money, and it will never gone for the future.
Paper money will still exist in the future. A lot of people still prefer paper money because they’re comfortable with it. Also, bitcoin is for those people who are knowledgeable enough to use it. Majority of the people are not techy or internet savvy.

That is just for now because we are still in the middle of the old generation and the new generation so the chance of having a majority of the population as a techy or internet savvy is still small and we can make that amount grow in the future if we will continue to improve and spread the technologies that we currently have.

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September 16, 2017, 10:35:24 AM
 #4234

The future of paper money is well known by all of us here  Wink
As we saw so far, banks introduce more and more mobile systems payments, more credit cards and stuff like that. All of that things are already introduced and are developing. The simple case is new Iphone X, with whom you have to pay only by showing your face.
How about crypto? I'm not sure, it will happen but who knows when? It definitely has started already, must be only(not so simply) accepted and finished.

Paper money will be banned entirely?
In booming economy higlhy possible.

How long do you think that happens?
Max 20 years.

would it work?
Hopefully.

What security and privacy risks would it raise?
Fraud mainly and things which we know nowadays.( for example stolen card number)

And how would public and privately issued monies interact?
Everything will be more public and less private it's essential to more security.

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September 16, 2017, 10:08:27 PM
 #4235

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.
Most money now is in electronic form than in cash form about 7% of all the money of the world is in the form of cash the rest are just a bunch of numbers on the databases of banks and governments so I think we are closer to the elimination of cash as a form of money than what you imagine.

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September 16, 2017, 11:35:32 PM
 #4236

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.
Most money now is in electronic form than in cash form about 7% of all the money of the world is in the form of cash the rest are just a bunch of numbers on the databases of banks and governments so I think we are closer to the elimination of cash as a form of money than what you imagine.
The form of money is slowly evolving and it is from being a physical cash to a virtual cash like paypal or mobile wallet and i think that in the near future we can see bitcoins or other form of cryptocurrencies that are being used in different transactions like paying things up and get different services with just the use of cryptocurrency.

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September 16, 2017, 11:53:13 PM
 #4237

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 ,

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.
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.

This still depends on time and place " maybe 5 years from now " cryptocurrencies already replaced fiat in some countries and to the third world maybe in the next ten years.
Right now let's enjoy converting cryptocurrencies to fiat and vice versa.

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.

Same thought that happened a decade ago where people thought that this is it the medium of money is gold and as time passes by, it became a fiat, and now we are going to digital age.
No one knows what lies ahead, even cryptocurrencies might be replaced in a thousand years time.


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September 16, 2017, 11:57:49 PM
 #4238

Paper money will be here for a long, long time. At least a century. Why? Because most people are used to it by now, and so are the kids. And they will teach their kids to use it.



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Dreamchaser21
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September 17, 2017, 01:03:05 AM
 #4239

Paper money will be here for a long, long time. At least a century. Why? Because most people are used to it by now, and so are the kids. And they will teach their kids to use it.

Yes that is why paper money will still on the lead in the future for sure, but we can see that bitcoin is really making way just to be a other source of money and way of transacting thru online. I can see that bitcoin in the future will make a big impact on our financial system.

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September 17, 2017, 01:34:56 AM
 #4240

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 think its a longer time if it will happen the paper  money is entirely banned in the future, because until now many people located at the mountain aria is actually even paper money didn't know what is paper money, so may be in the next generation or  towards the end nobody knows,


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