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Author Topic: The future of the paper money  (Read 414692 times)
harryxx
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November 10, 2017, 04:49:03 AM
 #4621

I think paper money soon will be in a Museums or will be a collector's item  it the next 5-10 years. Because as we see now paper money keeps on declining and crypto currency is keep on rising. And it's good that there is a digital currency because we can avoid being robbed in the streets, but I fear that we could be hack when the digital currency arrive.
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November 10, 2017, 04:53:21 AM
 #4622

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.

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November 10, 2017, 06:21:55 AM
 #4623

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?

Believes the use digital currency will grow significantly , some reasons for the increasing value of digital currency transactions are in terms of particality, improvement in security, lower transaction costs and incentives of service providers. Not only ease of money offered but other features such as credit payments , token electricity , pay tolls , pay in supermarket and mini markets. Paper money will increasingly replaced by digital currency.

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November 10, 2017, 07:09:32 AM
 #4624

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.
I presume by saying max that means majority, for me, I think bitcoin will grow and will be more popular but basing on the population of the world
it's hard to get majority of them to adopt with bitcoin as for sure they will still prefer to use paper money due to the fact that their daily transaction
does not require them to transact online.

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Anies_Sandi
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November 11, 2017, 04:35:26 PM
 #4625

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.
my opinion this paper money will still survive, although the users are few, but the paper money will still run, and will not be destroyed. because banknotes appear before any bitcoin and electronic money is currently being applied, but still people use paper money for payment instruments. so the conclusion that the paper money will not disappear, but will still be used and remembered.

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November 12, 2017, 12:01:04 AM
 #4626

Paper money in the future i think it still exists, i dont think it will disappear even years from now. Although bitcoin crypto currency is continuously knowing by people and grow significantly. Paper money will still be used unless the gov't. Will provide a strong internet connection nationwide which is the no. 1 Thing to consider in using digital currency. And also it cannot disappear that easily because of the fact that we have everyday transaction which we doesn't need online transaction.
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November 12, 2017, 12:42:40 AM
 #4627

government cant banned paper money. you know if it happen, i think not all people will know about bitcoin and they will not use because they cant use it.
balance is need in this world, some people will know about something and some will dont know about it. and we fill knowledge each other.

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November 12, 2017, 12:44:29 AM
 #4628

Paper money in the future i think it still exists, i dont think it will disappear even years from now. Although bitcoin crypto currency is continuously knowing by people and grow significantly. Paper money will still be used unless the gov't. Will provide a strong internet connection nationwide which is the no. 1 Thing to consider in using digital currency. And also it cannot disappear that easily because of the fact that we have everyday transaction which we doesn't need online transaction.

The future of paper money will still exists because it has a support from the Government and for sure the Government won't allow bitcoin to take over fiat. Maybe paper money in the future would be obsolete but it will never gone.  There are still a lot of people who doesn't know anything about digital currency especially those people who is living in the provinces. So they were the one who really uses fiat.
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November 12, 2017, 01:06:05 AM
 #4629

Paper money will soon sank just like Titanic
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November 12, 2017, 01:58:41 AM
 #4630

Perhaps in the future paper money will be very few in number because replaced with electronic money but with the same value and more secure and practical in conducting transactions, it will also save the state budget because the cost of raw materials and production of money will be less.

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November 12, 2017, 02:23:09 AM
 #4631

Perhaps in the future paper money will be very few in number because replaced with electronic money but with the same value and more secure and practical in conducting transactions, it will also save the state budget because the cost of raw materials and production of money will be less.

It seems like what is said will not happen if the paper money will be in production only a little.

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November 12, 2017, 08:58:02 AM
 #4632

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 the paper money will gradually disappear. Because now it's common for everyone who uses credit cards when you buy your likes. Most vendors accept credit cards. But most of those are rich, but if you think in the future everyone is wealthy and has a credit card each one? They do not need paper money anymore. But I did not say that it would be gone forever. We can not guarantee that it will happen at that time.

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November 12, 2017, 09:39:00 AM
 #4633

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 for some, they already are! 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.
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November 12, 2017, 10:00:08 AM
 #4634

Paper money will be used less but will not go away. Money will be digitized more but security breach will draw people, especially government, back to paper money. Crypto will continue boom but need to get over the hurdle of regulation and security before it becomes accepted by mass market.
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November 12, 2017, 10:07:00 AM
 #4635

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 the paper money will gradually disappear. Because now it's common for everyone who uses credit cards when you buy your likes. Most vendors accept credit cards. But most of those are rich, but if you think in the future everyone is wealthy and has a credit card each one? They do not need paper money anymore. But I did not say that it would be gone forever. We can not guarantee that it will happen at that time.

You can only tell that if majority of the population in this world are using credit cards, the reality is only few are using it and majority of the people who are using credit are in a country whose economy are progressive. This will take time, the change of lifestyle of the people into living a convenient life depend on the status of the economy of a certain country and based on my knowledge, majority of the people are not earning well especially on developing or underdeveloped countries.

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November 12, 2017, 10:14:09 AM
 #4636

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?

Even though bitcoin has reached eminence heights of success but still I do believe that paper money does have a future and will not diminish in the upcoming times because firstly, paper money is much more popular than bitcoin and because of which it has way more users than bitcoin of all the age groups. Secondly, paper money is stable and it’s price does not fluctuate often whereas bitcoin value fluctuate a lot. Then paper money does not require any internet connection to run unlike bitcoin.

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carlisle1
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November 12, 2017, 10:33:24 AM
 #4637

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?

Even though bitcoin has reached eminence heights of success but still I do believe that paper money does have a future and will not diminish in the upcoming times because firstly, paper money is much more popular than bitcoin and because of which it has way more users than bitcoin of all the age groups. Secondly, paper money is stable and it’s price does not fluctuate often whereas bitcoin value fluctuate a lot. Then paper money does not require any internet connection to run unlike bitcoin.
i support you mate,physical money will remain forever.maybe in the future the users will lessen but still money is money.theres no other way that virtual payments can diminish the physical..remember VIRTUAL OR CRYPTO CURRENCIES only works with ELECTRICITY OR ANY KIND OF POWER SUPPLY but if non.business is nothing.thats why i support physical money.

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November 12, 2017, 01:15:25 PM
 #4638

Paper money will be used less but will not go away. Money will be digitized more but security breach will draw people, especially government, back to paper money. Crypto will continue boom but need to get over the hurdle of regulation and security before it becomes accepted by mass market.


For example, I almost do not use paper money in my daily life. It is much easier and quicker for me to use credit cards and electronic money. But the paper money will not disappear completely in the future. I think that it will still exist. But it will not be so widely used.
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November 12, 2017, 07:11:21 PM
 #4639

I think paper money will be destroyed in near future because electronic or virtual money can be used safely all around the world with no limit. So i would say paper money would be decreasing slowly.

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November 12, 2017, 10:32:02 PM
 #4640

Paper money in the future i think it still exists, i dont think it will disappear even years from now. Although bitcoin crypto currency is continuously knowing by people and grow significantly. Paper money will still be used unless the gov't. Will provide a strong internet connection nationwide which is the no. 1 Thing to consider in using digital currency. And also it cannot disappear that easily because of the fact that we have everyday transaction which we doesn't need online transaction.

The future of paper money will still exists because it has a support from the Government and for sure the Government won't allow bitcoin to take over fiat. Maybe paper money in the future would be obsolete but it will never gone.  There are still a lot of people who doesn't know anything about digital currency especially those people who is living in the provinces. So they were the one who really uses fiat.

I disagree with the people saying that the future of paper money is dark. I don't think so. Paper money will be in our lives and we'll keep using it everywhere just like we do today.

Bitcoin or other coins can't change this reality, if you were to ask me.

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