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Author Topic: The future of the paper money  (Read 414997 times)
Sled
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September 28, 2017, 10:18:11 AM
 #4321

it seems like paper money will always be in the future but the difference is, in the future will have a competitor yes it's virtual money so people will use both money to transaction

I think this would be the one that will happen. Paper money will co-exist with digital money because it is hard to totally eliminate fiat money if not everyone will be able to use it. There are still so many people in the world who don't have the gadgets needed to access cryptocurrency. Paper money is still needed though it may be reduced and then the expenses to make paper money would be reduced as well. The expense of producing paper money is getting higher so it would be wise to reduce it by having digital money because there would be a little cost of producing it.
The paper money and the cryptocurrencies will stay in this world and they will do a collaboration which will result for a better and it will help all the people to connect from being a user of fiat to cryptocurrency and vice versa. We can see in the future that we will have fiat system and also cryptocurrency payment system that will give option to the people.

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September 30, 2017, 08:07:40 AM
 #4322

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.

As of now governments were starting to do a review regarding this system how can they use this to improve their own country , which means they are open for the possibilities and potentials of bitcoin but I will stand in the fact that paper money will still run in different nation since we cannot force every people to use bitcoin for their daily lives and it also has limitation in which oayment will take a bit long when bitcoin is the currency in the sense that that we will open the gadget , connect to a wifi so on, unlike in paper money you will just give and goodbye.
In my opinion, there is no such way to replace the paper money with the bitcoins at all. This is because bitcoins are not a legal currency at all and even today, most of the financial matters or the inter relations of the two countries are solved in terms of the fiats. If one supports the bitcoins, then it might be possible that the other one deports it.


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September 30, 2017, 10:33:06 AM
 #4323

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.
There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.
Very well said! I think both the crypto currencies and paper money are entirely different sort of things. They have nothing to do with each other as such. I think the future of paper money is totally safe and sound and it will not suffer in any way no matter what the circumstances will be. People will use paper money in the future as well.

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September 30, 2017, 11:02:13 AM
 #4324

I think that in the future we completely abandon paper money. Now in some developed countries you can pay everywhere without cash using just a credit card. And with the development of crypto money it will be easier to do.
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September 30, 2017, 11:29:39 AM
 #4325

I think that in the future we completely abandon paper money. Now in some developed countries you can pay everywhere without cash using just a credit card. And with the development of crypto money it will be easier to do.

It will still take years before we could totally wipe out paper money. Just remember, those are just on "developed countries" as you've mentioned. How about those places where people don't even hold a cellphone or those ethnics who are still using barter?

The development in the world is not equal, so I think it won't even if developed countries are using digital money, on the other side, they will still be using the classic fiat.

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September 30, 2017, 11:37:25 AM
 #4326

I think that in the future we completely abandon paper money. Now in some developed countries you can pay everywhere without cash using just a credit card. And with the development of crypto money it will be easier to do.

For big countries and countries that have a good technology like USA and Japan will abandon the paper money for sure. Maybe in the next 5-10years people on that country will not using paper or coin money again and using a digital money, on a card or using their handphone.
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September 30, 2017, 12:59:48 PM
 #4327

The future of paper money is not looking good. Yet people still believe in it and think more needs to be printed. Oh well, they are the ones that will be left behind when the new economy takes shape.



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camsss
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September 30, 2017, 01:10:02 PM
 #4328

As of now paper money is still more useful than bitcoin because most of the people are not yet familiar to bitcoins. But as the bitcoin economy grows, people would now like to use money on online. Another reason is because we are becoming more technologically improved.

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September 30, 2017, 03:23:13 PM
 #4329

i don't believe paper money is going to extinct any time soon near future. though world is changing transactions are taking place digitally but still  maximum no. of transactions occur in world are in terms of paper money.reason why paper money is so popular is that not everyone has access to online money ,people working on daily wages deals in paper money greatly.also there still a risk of fraud online and people  feel secure when there is cash in their hand.Cash is unique among payment instruments in that anyone can transact, any time, any place, with no third parties involved. and can be accessed in all offline as well as online markets. 
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September 30, 2017, 06:55:37 PM
 #4330

Cash is being displaced in so many ways that it’s hard to keep track. There are credit cards and electronic payments; apps such as Venmo, PayPal and Square Cash; mobile payments services; cryptocurrencies that operate outside the purview of central banks; and localized offerings such as Kenya’s mPesa, India’s Paytm and Bangladesh’s bKash. These innovations are encouraging cashlessness across communities worldwide. Cash will likely become less popular, thanks to the high cost of using cash and the growing array of alternatives. But I expect it will remain with us forever. The future will be “less cash,” rather than cashless.
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September 30, 2017, 08:41:58 PM
 #4331

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.

As of now governments were starting to do a review regarding this system how can they use this to improve their own country , which means they are open for the possibilities and potentials of bitcoin but I will stand in the fact that paper money will still run in different nation since we cannot force every people to use bitcoin for their daily lives and it also has limitation in which oayment will take a bit long when bitcoin is the currency in the sense that that we will open the gadget , connect to a wifi so on, unlike in paper money you will just give and goodbye.
In my opinion, there is no such way to replace the paper money with the bitcoins at all. This is because bitcoins are not a legal currency at all and even today, most of the financial matters or the inter relations of the two countries are solved in terms of the fiats. If one supports the bitcoins, then it might be possible that the other one deports it.
The future of paper money depends on one thing and that the future of Digital Currencies. If there comes a point that Government announce this good news of making Bitcoin legal, then I think it will be very much difficult for paper money to survive. At that time, things will be very much changed and people will believe in crypto currencies more than paper money.

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October 02, 2017, 08:38:17 AM
 #4332

Paper cash will of program exist in the future, there is no reason that it is going to vanish in the foreseeable future.We all know of system that online funds and Bitcoin and many others is likely to be far more well-liked but that will not change the paper money.
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October 02, 2017, 01:23:28 PM
 #4333

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.

As of now governments were starting to do a review regarding this system how can they use this to improve their own country , which means they are open for the possibilities and potentials of bitcoin but I will stand in the fact that paper money will still run in different nation since we cannot force every people to use bitcoin for their daily lives and it also has limitation in which oayment will take a bit long when bitcoin is the currency in the sense that that we will open the gadget , connect to a wifi so on, unlike in paper money you will just give and goodbye.
In my opinion, there is no such way to replace the paper money with the bitcoins at all. This is because bitcoins are not a legal currency at all and even today, most of the financial matters or the inter relations of the two countries are solved in terms of the fiats. If one supports the bitcoins, then it might be possible that the other one deports it.
The future of paper money depends on one thing and that the future of Digital Currencies. If there comes a point that Government announce this good news of making Bitcoin legal, then I think it will be very much difficult for paper money to survive. At that time, things will be very much changed and people will believe in crypto currencies more than paper money.
The paper money or the future of paper money will not be in danger because paper money is backed and supported by the government so there is no chance for paper money to be in danger because even there are crytocurrencies it can't still be enough to replace the paper money since the government are not always supporting cryptocurrency.

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October 02, 2017, 01:30:33 PM
 #4334

I believe that paper money will not disappear anywhere, as there should always be an alternative in the event of a crash or system failure. I have all the finance allocated equally between paper money and crypto currency.

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October 02, 2017, 01:40:14 PM
 #4335

Paper money always exist. Because after all, physical form shows existence of a state in the real world. Cryptocurrency and others are just alternatives that have same benefits.


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October 02, 2017, 01:50:10 PM
 #4336

since ancient times people have used paper money for exchange, so paper money will never be replaced. bitcoin is the future that can be used as paper money to shop. bitcoin I think is the right way to get rich because it can be used as paper money. so bitcoin as an intermediary, not to replace paper money

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October 02, 2017, 03:38:05 PM
 #4337

nowadays people are preferring non paper money to reduce risk and wastage of time to visit bank. every single person want to save time. the developmental work at non paper money reflects the future of paper money.
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October 02, 2017, 05:26:20 PM
 #4338

Paper cash is in use for a extremely lengthy time so this transaction to btc or something various will be extremely unpleasant so you should assume wonderful resistance, aged behavior..Paper cash is really great for tiny individuals, if you are very poor or never have money in bank account..
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October 02, 2017, 05:48:09 PM
 #4339

I think paper money and cryptocurrencies will continue to exist together for a very very long time, perhaps a cryptodollar will appear, backed up by a real currency reserve
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October 03, 2017, 07:06:23 AM
 #4340

Paper money will always be the first choice of people. Dreaming about having a cashless society is way too far from coming true. The world of cryptocurrency is complicated for some people. I mean why would he bother himself to learn about cryptocurrency and transfers while you can do the same thing with the real money. If we hope to have cashless society in the future, we have to start thinking about ways to teach the coming generations from young age to grow old with it, but, the world is really busy with other things now like wars and nature disasters.
You are right that paper money has its own value and I think that it will not go to an end; I think that it is just an assumption or a hypothesis as we all know the importance of the paper money and the complications related to the digital currency.

It may be possible that in some parts of a country people may prefer to use digital currency but the paper money is still going to survive for long time.

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