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Author Topic: The future of the paper money  (Read 403601 times)
Sled
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November 08, 2017, 03:13:46 AM
 #4601

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.

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November 08, 2017, 04:47:24 AM
 #4602

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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November 08, 2017, 11:15:51 AM
 #4603

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
 #4604

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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November 08, 2017, 12:32:11 PM
 #4605

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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November 08, 2017, 02:06:36 PM
 #4606

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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November 08, 2017, 02:23:16 PM
 #4607

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 there is a big possibility in the near future that paper money will vanish, as we can see the trends of monetary circulation now a days that almost half of the worlds population are using electronics card to pay bills, buy goods and services and that is because of internet that are connecting around the globe. In my point of view that electronics card is using a single chips that contain all the records, transaction and money balances of every holder so as the world is fully enters to a new era then i think cards are not used anymore because it is prone to loss and the best way is to implant the chips on every individual upon its birth and the chips will be loaded all the identity of the bearer included all its assets, then the paper money will be slowly forgotten and no more value.

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November 08, 2017, 02:48:07 PM
 #4608

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?


Paper money will DEFINATELY be banned at some point. To my mind, it will be around 2030.
This will established bei the governments (not for real, it's the elite doing it).

Unfortunately, it is going to be the complete opposite of privacy and and security. It will be used to control the masses and make EVERY transaction transparent.

Yes, i'm talking about NWO (New world order). Sad, but if we're lucky we can make some Money until then...  Roll Eyes

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November 08, 2017, 05:31:05 PM
 #4609

I don't think document cash will be banned or changed completely, Even in the present time where debitcards and creditcards are used worldwide nevertheless paper cash has a substantial use specifically in physical transactions, I think it would nevertheless preserve presence even when bitcoin or any other web-dependent methods go mainstream.
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November 08, 2017, 06:19:16 PM
 #4610

In my opinion, paper money can rise in the future. The paper money is considered as adulterated by the digital countries.Because fake paper money out of a lot of time.As a result, the people are suffering.
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November 08, 2017, 08:58:53 PM
 #4611

I don't think document cash will be banned or changed completely, Even in the present time where debitcards and creditcards are used worldwide nevertheless paper cash has a substantial use specifically in physical transactions, I think it would nevertheless preserve presence even when bitcoin or any other web-dependent methods go mainstream.
The fact is that paper money has a lot of drawbacks, but at the same time you need to think about the advantages that they have. To date, paper money is an easy settlement tool for most people. Therefore, before talking about the fact that paper money will be replaced by crypto currency, you need to think about this Factor of containment.

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November 08, 2017, 09:12:37 PM
 #4612

The future of paper money is promising as ever BECAUSE bitcoin can co-exist alone !!!
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November 08, 2017, 09:33:12 PM
 #4613

We need digital money to earn paper money here in this world of cryptocurrency, in that matter I don't think so what would happen if paper money is no longer exist and only digital currency is available to use. I think there are many disadvantages of using digital currency instead of papaer money I think peole can't buy a little things because  if someone want to buy something it shoul be in online form because of digital currency but the advantage of its all transactions will doing faster and less of effort.

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November 09, 2017, 02:26:19 AM
 #4614

Due to such a rapid development of e-commerce and the improvement of mobile platforms, in the next decade, consumers will use exclusively non-cash payments. In this case, the use of plastic cards will be completely unnecessary, all payments will be made using modern mobile devices.

But at the same time some segments of the population do not have the opportunity, and some do not want to go into the study of new modern technologies. Consequently, a complete rejection of the classical banking structure is simply impossible. In addition, the security of such banking institutions remains an important issue, because the power of hackers amazes with their capabilities and dexterity.
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November 09, 2017, 03:12:32 AM
 #4615

The future of paper papers is still doubtful for long periods of time, it is seen the decrease in direct transactions, for example shopping in malls most people use digital currency so that makes paper money can disappear.

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November 09, 2017, 05:15:43 AM
 #4616

The future of paper papers is still doubtful for long periods of time, it is seen the decrease in direct transactions, for example shopping in malls most people use digital currency so that makes paper money can disappear.
The thing is not all people are shoppers, I mean there are a big number of our popular who are still under poverty and not earning a good amount
of money, so when money is their problem how can they avail this online services when it's not fully useful to them.

 
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November 09, 2017, 05:49:46 AM
 #4617

I see no future in paper money anymore since the rise of digital currencies. Digital currencies will be implemented worldwide once the paper money will reach its rock bottom. It is more convenient and even though controlled by government, the crimes involving money will be lessen.

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November 09, 2017, 06:24:11 AM
 #4618

Everyone still uses paper money and will continue to use it in the future, as long as the government has not legalized Bitcoin technology then paper money will not disappear and will always complement each other with Bitcoin. Fiat money will not go extinct.

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November 09, 2017, 07:09:52 AM
 #4619

I am even think that in the future, digital systems will be used more often than physical ones. So also with money, will later transform into something more concise than credit card. Paper money will be a collection item.

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November 09, 2017, 08:06:32 AM
 #4620

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?

Bitcoin has gained a lot of popularity throughout the years since it had started. And along this journey it has gained users of not only younger age groups but also that if older age groups. But still I don’t think that bitcoin will able to replace paper money and i do believe that paper money has a future because firstly paper money is way more popular than bitcoin and because of which its way more in usage and has more users as compared to bitcoin. Secondly paper money does not require any money for transactions whereas bitcoin requires. Then bitcoin requires internet whereas paper money requires no internet.

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