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Author Topic: The future of the paper money  (Read 412994 times)
edward222
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October 02, 2017, 05:48:09 PM
 #4341

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
 #4342

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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October 03, 2017, 07:19:04 AM
 #4343

Paper money usage dropping day by day since VISA-MC bomb. But the main problem was Credit Card fraud and Credit debts.
Bitcoin - (Crypto Money) is the only way for paperless money usage. And the best part is banks and goverment cant block your money due debts its totaly under your control.

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October 03, 2017, 07:49:51 AM
 #4344

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.

Maybe we all use crypto currency but 1 thing for sure. Paper money will always use especially in all store, its either restaurant or in any place we want to use paper money. So its not dis appear even we also have cryptocurrency.

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October 03, 2017, 08:16:35 AM
 #4345

the eventual fate of paper cash, possibly simply change in appearance yet same rectangular frame with countenances of dead pioneers and numbers. One thing that im beyond any doubt of a monstrous swelling country by country that will make higher notes useless.
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October 03, 2017, 08:23:59 AM
 #4346

I think the eventual fate of paper cash were no change, in light of the fact that if this paper money were left in the market they had a probability that turn of the cash in the market were not progressed toward becoming parity. Additionally, if the advanced cash were known as essential money they had an inclination that paper money were pass on and disintegrate in the business.
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October 03, 2017, 08:48:50 AM
 #4347

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 there is a certain cohort of people that will resist the abandonment of paper money with their lives. They will, I suspect literally be clutching onto paper money until their last gasp.

There is also a policy difference between what we understand as bitcoin and fiat in most countries, Bitcoin has a fixed supply, central banks have a good deal of control over the supply of fiat and thus can control inflation etc.
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October 03, 2017, 09:10:46 AM
 #4348

Paper money will be gone in the future. When you consider it, it's 2017, but we pay a few products with money.

Also the organization bother that accompanies it for traders cash gathering is processed  by banks. Like Costing worker hours, training and fuel. While electronic exchanges like bitcoin or a great bank exchange are much more proficient! This is way better
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October 03, 2017, 11:04:42 AM
 #4349

Paper cash employed to be required to have close to to do your everyday business about city but presently individuals desire to use credit score and debit playing cards to store about. In Scandinavia Norway, Sweden and Denmark are preparing to be the first 'cashless' societies where all of the transactions will be completed electronically. This will improve the stability of your funds and there will be much less opportunity of receiving robbed on the street
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October 03, 2017, 07:23:30 PM
 #4350

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.
that is absolutely right that paper money has their own importance and value, I  also think like you  that paper money will stay in the future and will not  be abolished or disappear, because even if the bit coin will be an international crypto-currency. Even the developers do not have the power to control it. So it is concluded that as bit coin develops for the better transaction and security paper money will also develop for future needs.

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October 03, 2017, 11:01:44 PM
 #4351

European countries are already have a "war on cash". Only maximum EU500 cash transactions are allowed, however I don't know how they enforce this. We are moving more and more towards a police state system around the world. It will end in a revolution.
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October 03, 2017, 11:49:14 PM
 #4352

I am sure that cryptocurrencies will never 100% replace paper money... they should work perfectly together...
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October 04, 2017, 07:54:45 AM
 #4353

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
This is something nearly impossible to see even after a long time period. Paper money has its own importance and it cannot be devalued by this digital currency. I think the ones who are using this paper money are even unaware of this concept of digital money. Paper money will be used in very similar fashion in the future as well.

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October 04, 2017, 08:28:43 AM
 #4354

It's clear he does not understand how important paper money is. We cannot even live without paper money, and by the way, not all of us are living in an online world, we have brothers and sisters who live in a place where internet is not even recognize.

Your confidence  is not back with reliable information, how would it replace paper money when currently only a little percentage of the worlds population are the users of bitcoin while we all use paper money. To reach that level of success is almost impossible, bitcoin might be the future of crypto currency but definitely not the future of money.
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October 04, 2017, 08:30:39 AM
 #4355

We can have paper money powered by crypto, instead of government institutions printing the money people can print it themselves
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October 04, 2017, 09:08:34 AM
 #4356

We can have paper money powered by crypto, instead of government institutions printing the money people can print it themselves
Well I guess that will not gonna happen so soon, people will still consider paper money that is regulated by the government a more safer one.
If you would ask me I would say that it's better to have bitcoin as an online currency than paper money because it it where it is known for.

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October 04, 2017, 10:45:38 AM
 #4357

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. 
Bitcoin are definitely going to need some time in order to have complete control over world economy and the way they are increasing in value, I am pretty sure that bitcoin will replace paper money forever. The pace at which technology is advancing, internet will be highly common in next ten years which is ultimately going to make the use of bitcoin easier.
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October 04, 2017, 10:47:45 AM
 #4358

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. 
Bitcoin are definitely going to need some time in order to have complete control over world economy and the way they are increasing in value, I am pretty sure that bitcoin will replace paper money forever. The pace at which technology is advancing, internet will be highly common in next ten years which is ultimately going to make the use of bitcoin easier.

I think no government would allow their national currency to get in threat. If for them bitcoin start possessing the threat to their currency they would just ban it or make some stringent laws. So more over they could introduce their creation of the coin for their country and avoid using bitcoin and altcoin.

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October 04, 2017, 11:37:16 AM
 #4359

Probably, quite soon humanity will live without paper money. Most of the technologies needed to create non-cash future are available today, and more and more people understand that they are more convenient than paper money. Money systems in a few dozen years will be seriously transformed. I think in the near future paper money money will be completely virtualized.

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October 04, 2017, 11:43:28 AM
 #4360

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.
Yes its good to feel the money in your hand. I think the future of paper will remain. Yes bitcoin is now becoming famous but that doesnt mean bitcoin can defeat paper money. For me I like to earned in bitcoin more than in job because it is much larger but that bitcoin is worthless in my country because it didnt accept as a rule of payment so I need to convert it first.


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