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Author Topic: The future of the paper money  (Read 414589 times)
freedomgo
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November 04, 2017, 09:48:32 AM
 #4581

I am sure that the future of paper money will continue to survive, this is because paper money is a legal currency that is fully protected by regulations in any country.
Paper money will be here although the government will create its own digital currency.
They will protect the interest of the many so they will not allow for paper money to disapear, there will be more option in the future but for sure
paper money will continue to exist.

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Kovu
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November 04, 2017, 10:05:04 AM
 #4582

nah, paper money wont gonna disapear anytime soon - to mutch ppl wont gonna be able to adapt to it yet. Look on eldery ppl who are still keeping they money wher they can see it - they wuld never be able to switch to "virtual" money. I think that we need 2-3 moar generation befor we gonna be able to switch out of paper money.
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November 04, 2017, 10:10:02 AM
 #4583

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 future of paper money is also bright because it will remain in future as well as because non educated peoples and the people's without these electricity and electrical gadget facility they can not use these virtual money in their day to day lives so i think paper money remain in existence in future also we cannot remove the existence of paper money  and probably on this forum many people are here too earn virtual money and then they convert it into paper money for day to day works or for their necessary things.
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November 04, 2017, 10:12:35 AM
 #4584

That would be a long years to happen because I don't think government will be in favor of having a money that they cannot control. Because when this happens it will lessen their power. But for me, I am excited and I am looking forward to replace paper money by digital currency. Since we are now in the era of online payment system, cashless society. I think people will also enjoy this.

if0nlyweknew
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November 06, 2017, 09:39:53 PM
 #4585

Document money will still lived in and will also be utilized by people around the world,people living in places that internet isn't able will use paper cash and will not use bitcoin.
xBitHodler
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November 06, 2017, 09:46:05 PM
 #4586

We are definitely part of upcoming financial revolution. Paper money will be replaced by cryptocurrencies soon. Personally, I thought that we would switch completely to cashless transactions and pay with credit or debit cards. Now, paying with smartphone becomes more and more popular so in the end it might be not that difficult to convince people to cryptocurrencies.
Bonakid
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November 07, 2017, 03:08:04 AM
 #4587

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 paper money will be stable for the future but also digital currency will implement to other people who are in knowledge to use mobile and gadgets but the people who are lack of knowledge in technology  will stay remain to use paper money for their easy shop and buying what their needs.But I know someday cryptocurrency will replaced worldwide and being cashless society for good.
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November 07, 2017, 05:04:20 AM
 #4588

If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
yes you are right, and besides if government took part in bitcoins that will be the chance of the government to control bitcoins therefore we are to expect more hassle in using bitcoins and might be the downfall of crypto currencies. paper money though will still exist through out the world since most of the people preferred to use paper money especially the older ones.

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November 07, 2017, 06:23:46 AM
 #4589

Paper income will be in use what ever means of transactions as effectively currencies exist, Paper income is in use from the early days of human existence.
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November 07, 2017, 08:53:19 PM
 #4590

investing in bitcoin isn't a necessity but investing in bitcoin are individuals who believethat later bitcoin continuously increase which makes those who believe to become untunh
Naoko
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November 07, 2017, 08:59:18 PM
 #4591

paper money won't disappear...the government can't control the people...it will ruin the world economy...it is unrealistic in my opinion
Vinz1978
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November 07, 2017, 11:25:02 PM
 #4592

Since I am just a newbie in this industry, my opinion in this matter there is a possibility that the future of the paper money will be gone in the near future, we just don't know when will it happen. But I am sure about it, where the fiat can be replace by the virtual or digital currency. But this is just my perception only anyone are free to criticize me about this answer of mine. Good day Smiley

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November 08, 2017, 02:15:45 AM
 #4593

Depend on the current world technology. I think the money is not extinction, internet based coins will be in the market as well as Bitcoin and other coins. However, how long it will stay will not be on the demand of the people.

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November 08, 2017, 02:54:25 AM
 #4594

Paper money will disappear anyway. With bitcoin or with any other digital currency. It is the law of evolution. Traditional currencies and the economy based on them demand reforms because they got rid of the opportunities and are not in time behind the current rate of development of digital economy. Sweden is going to pass completely to non-cash payments by 2025. I think, other countries will strongly not lag behind Sweden

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November 08, 2017, 03:13:46 AM
 #4595

Paper money will disappear anyway. With bitcoin or with any other digital currency. It is the law of evolution. Traditional currencies and the economy based on them demand reforms because they got rid of the opportunities and are not in time behind the current rate of development of digital economy. Sweden is going to pass completely to non-cash payments by 2025. I think, other countries will strongly not lag behind Sweden
The paper moneys will not get replaced by the digital currencies like cryptocurrencies because the one thing that i am sure about is, it will evolved, yes that is right. With the newest inventions and technologies then they can get an idea that can help them to improve the current system of the paper money and with that idea they can create or make the paper money evolve for adapting the new system which is being an online currency.

PizzaBTC
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November 08, 2017, 04:47:24 AM
 #4596

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?


This is definitely not bitcoin, How will a crypto currency be backed by a state currency. This only means that it will be a centralized crypto currency I don't think it will be accepted by people.
Well paper money have a value and no one can deny but as we know that’s it’s a modern technology now a days and every one they are going to take advantage from it so bitcoin is also a digital currency and people are going to accept fast and bitcoin is also going to give a good opportunity for earning and there are also much more good things in bitcoin.


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Qastessa
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November 08, 2017, 11:15:51 AM
 #4597

That would be a long years to happen because I don't think government will be in favor of having a money that they cannot control. Because when this happens it will lessen their power. But for me, I am excited and I am looking forward to replace paper money by digital currency. Since we are now in the era of online payment system, cashless society. I think people will also enjoy this.
You are right now the people are using the crypto currency and a lot of the people are having trust on the bitcoin and they are paying with the bitcoin I hope this will increase the value of the bitcoin, I can see the bitcoin will help a lot of the people will be the part of the bitcoin I hope this will increase the value of the bitcoin for the long time so the investment for the long time I hope this will be the part of the bitcoin.

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November 08, 2017, 11:32:50 AM
 #4598

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

In the future we do not use paper money anymore because it is less efficient,
we are having a transitional period,
such as Paypal and other payments that allow us only use online payment to make payment transactions using only mobile phones....

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skarais
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November 08, 2017, 12:32:11 PM
 #4599

I think the future of paper money will remain forever,but maybe in the future paper money is no longer the favorite currency because many new currencies are emerging. For example bitcoin,Bitcoin is a decentralized digital currency that emerged in 2009.
This bitcoin since the beginning of its emergence already is a lot of interest moreover in the future.
I am not saying that paper money will be eliminated,But clear digital currency will become the most favorite currency in future.

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sino22
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November 08, 2017, 02:06:36 PM
 #4600

Depend on the current world technology. I think the money is not extinction, internet based coins will be in the market as well as Bitcoin and other coins. However, how long it will stay will not be on the demand of the people.

I think the paper money will not go extinct, because the paper money has been used until now. but if the demand for paper money will drop it is possible.

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