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Author Topic: The future of the paper money  (Read 404040 times)
Moonrunner
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October 13, 2017, 11:09:18 AM

I think bitcoin can easily get paper money because it is really popular right now and the market is doing very good actually. So bitcoin might as well get paper money and be like the second paying method in the world.
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October 13, 2017, 11:11:04 AM

I think there is no problem with paper money, though in the future bitcoin as a digital currency is getting more and more popular in use. I think people still need paper money for payment directly, especially when doing transactions in traditional markets.

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October 13, 2017, 12:17:12 PM

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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening
kamilah147
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October 13, 2017, 01:06:37 PM

Paper money maybe will lose, but certainly takes very long time. And indeed, now a technological era where financial transactions can be done using card or even in the presence cryptocurrency will further accelerate the displacement paper money.
if you can quickly replace the paper money means cryptocurrency will be increasingly known to many people and the more expensive the price but maybe it will impact on the currency of the country that resulted in such a country of China
if I think the paper money will not be invincible, because paper money is something that has been built before bitcoin appears. in this case also paper money is a symbol for the country. because this is the struggle of the heroes of the past. so we as a successor must guard it, not replace it.

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October 13, 2017, 01:09:55 PM

Without paper money we could have never thought of such an innovation. So this will serve as the base for the entire economic framework. In particular without paper money nothing will function, some countries have digitalized their currency, but haven't abolished paper money. So till the last minute of the world paper money gets used.



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ausbit
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October 13, 2017, 01:13:21 PM

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

Yes paper money would last forever because the first money that we have.it is also our currency that can we used to buy other things.but there is also an important thing about coins its can helps us because it is digital currency that we can used in electronic system.
I do not agree with you because with the passage of time everything change and so will be happens with the paper money. If we look the past there was no paper money. All the trade would be done through barter system.

Then gold took place and then after a long tine paper money was introduced and now the time comes that digital currency will take place and the paper money will be disappear.

Tukang Becak
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October 13, 2017, 04:35:09 PM

Although the use of paper money for transactions is diminishing as many countries are diverting to digital money but I am sure that paper money will always exist and will never disappear.

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ugarpice
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October 13, 2017, 08:16:47 PM

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?


Maybe that would happen in 30 or 50 years time. We cannot determine when will the cash be gone and replaced by bitcoin. The paper money is protected and regulated hy the government thats why it wodmbe gone soon.

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October 15, 2017, 04:31:16 PM

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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening

The future of the paper money is now very dull according to me, the people are aware of the new technologies and they are using these things for the betterment of the bitcoin and the crypto currency, the value of the bitcoin is high and the importance of the bitcoin is increasing more and more. The bitcoin is now being use by a lot of the people and the future of the crypto currency is very bright as compare to the fiat money.

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johnne
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October 16, 2017, 12:10:27 PM

I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare. At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money.

With electronic money there is question of privacy security and many people don't believe in electronic money they still prefer physical money and this will prevail in the future too.
Digital money is very develop now in most of the countries because using of digital money is easy as compare than paper money but keep in mind that paper money have his own value everywhere and it is not possible that paper money will complete disappear from the world because without paper money currency is not possible of any country.
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October 16, 2017, 12:15:40 PM

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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening

The future of the paper money is now very dull according to me, the people are aware of the new technologies and they are using these things for the betterment of the bitcoin and the crypto currency, the value of the bitcoin is high and the importance of the bitcoin is increasing more and more. The bitcoin is now being use by a lot of the people and the future of the crypto currency is very bright as compare to the fiat money.

I have felt it because it seems that virtual currency is now very much the talk of everyone around the world.
Everyone told me about it.

Bitcoincole
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October 16, 2017, 01:00:26 PM

I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.


Digital currencies are already in its verge of popularity especially in higly developed countries.However, I don't believe that paper money will lose its value anytime in the future.Maybe lesser percentage of people will be using it in the rich countries but in the third world countries paper money will still be the leading source of payments.

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October 17, 2017, 07:26:00 AM

the future of of the paper money will echange to digital money or digital currency using digital more healhty and safe the jungle
This is something for which we need to wait, only then we can know exactly what will happen. In my opinion, paper money will remain at its very own place in the future and people will keep on using paper money as well. This might happen that the use of paper money will become less but it cannot be entirely vanished out from this society.


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October 17, 2017, 06:03:27 PM

I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.


Digital currencies are already in its verge of popularity especially in higly developed countries.However, I don't believe that paper money will lose its value anytime in the future.Maybe lesser percentage of people will be using it in the rich countries but in the third world countries paper money will still be the leading source of payments.
Yes the popularity of the digital currency is increasing, more and more people more investing in the digital currency so I think it is very good to buy the bitcoin and then hold the bitcoin for more profit, the digital service is now available in all the areas of the country and a lot of people are investing in it. The more you will make it popular the more you will be able to get the profit through using the digital currency only.

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October 17, 2017, 06:47:49 PM

Paper money maybe will lose, but certainly takes very long time. And indeed, now a technological era where financial transactions can be done using card or even in the presence cryptocurrency will further accelerate the displacement paper money.
if you can quickly replace the paper money means cryptocurrency will be increasingly known to many people and the more expensive the price but maybe it will impact on the currency of the country that resulted in such a country of China
if I think the paper money will not be invincible, because paper money is something that has been built before bitcoin appears. in this case also paper money is a symbol for the country. because this is the struggle of the heroes of the past. so we as a successor must guard it, not replace it.
You also know the fact is we do not have much people use paper money in large countries as U.S, China, U.K ... Most people are using Visa/Mastercard instead of bring wallet have paper money, of course, the benefit of Visa/Mastercar has overcome paper money. So, I think in someday, we will not need to use paper money is possible.

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October 17, 2017, 07:30:51 PM

If we look back in the history we can imagine those big oversized note from the chinese (they introduced the paper money), and if we compare it with the present paper or brother plastic money i would say that it is inevitable to avoid the digital money. Paper money brings a lot of trouble and they are more expensive, and not for last, they can't be traced so it is harder to find out what where goes...so the paper money will vanish at some point.

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z38630610
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October 17, 2017, 08:07:57 PM

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?


You should think about how many people use credit or bank cards or mobile payment systems. If it grows paper money will start to lose reputation. Maybe 30 or 40 years later, there will be no paper many in the world. İmagine that all people uses mobile phones for payment.

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October 18, 2017, 03:29:29 AM

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?


You should think about how many people use credit or bank cards or mobile payment systems. If it grows paper money will start to lose reputation. Maybe 30 or 40 years later, there will be no paper many in the world. İmagine that all people uses mobile phones for payment.
It's actually growing and yet the demand of paper money is still here, paper money might less demand but it not be loss in circulation.
A lot of people are still relying on paper money in their transaction so it will stay and we can only see a lot of choices and we choose based on our convenience.

 
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October 18, 2017, 04:02:39 AM

In my point of view at least for next 100 years the paper money will exist because still people don't have access to internet and it will take more 50 years to have internet whole world then government has to define the digimoney according to their country required tax format.

So it is not that much easy for time being to avoid or quit from Paper money. The revolution has been initiated and start using by people next generation like to use cards and net payments which is actually required one and we no need to panic about the paper money.

In my life since 10 years paper money usage is max 25% all financial and purchase transaction through cards and Netbanking only. Hope very soon paper money will disappear.

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October 18, 2017, 04:35:13 AM

If we look back in the history we can imagine those big oversized note from the chinese (they introduced the paper money), and if we compare it with the present paper or brother plastic money i would say that it is inevitable to avoid the digital money. Paper money brings a lot of trouble and they are more expensive, and not for last, they can't be traced so it is harder to find out what where goes...so the paper money will vanish at some point.
You are saying that fiat money will vanish in future.It cannot happen at any cost.I don't think it will ever happen in future.I believe that paper money or fiat money will always exist in future and till the end of mankind.But on the other hand cyptocurrency will also have an important part.So I think that both the currencies will go hand in hand in the future and we should try to get profit from of them.Fiat money is used all over the world and in all soughts of transactions.Moreover,a large percantage of people in the world have not even heard about the cryptocurrencies.

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