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Author Topic: The future of the paper money  (Read 412218 times)
katarin2030
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November 20, 2017, 03:21:43 AM
 #4701

Well to answer your questions here's what I thought:
Paper money will be banned entirely?
It will happen eventually, but this is going to be a long process. Its not going to be banned though, but instead its going be eradicated.

Quote
How long do you think that happens?
For how long it will take, we don't know the precise time when it will happen, but I guess it will happen soon.

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would it work?
Ofcourse it will work, the government need to be changed anyways. Although, there is a chance that it is going to be centralized but all in all, I think it'll be in good shape.

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What security and privacy risks would it raise?
Regarding this matter, I think implying the current security of wallets are quite good. Since its true security lies on the person itself, so the fault is not in the wallet.

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And how would public and privately issued monies interact?
I'm not exactly sure what you're talking about, but is there any public and private monies?
Future of the paper money remains as it is now, means paper money can't be eradicated by the use of cryptocurrency. But the percentage usage of paper money may decrease, but no body can stop the use of paper money as it is used by everywhere.

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DevilSlayer
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November 20, 2017, 03:28:34 AM
 #4702

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 don't know if the cashless society will happen but I think that cash will never be extinct. Cash will exist in this world forever, bitcoin is is strong but the power of the bitcoin is not enough to replace the cash.

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November 20, 2017, 03:46:17 AM
 #4703

Paper money will stay because it's easy to use especially when you buy in small stores and I think the government won't stop paper money in favor of Bitcoin because there's a lot of processing and also everyone must have internet and that's the problem especially in poor countries

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November 20, 2017, 03:52:16 PM
 #4704

SHAFT has become on Stocks.exchange!
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November 20, 2017, 03:57:12 PM
 #4705

Paper money will stay because it's easy to use especially when you buy in small stores and I think the government won't stop paper money in favor of Bitcoin because there's a lot of processing and also everyone must have internet and that's the problem especially in poor countries
many say paper money is the perfect means of payment for now. even it is used by people all over the world. maybe for now, it's still very difficult to use digital money.



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November 20, 2017, 04:09:00 PM
 #4706

With the technology we have right now, i believe sooner or later the paper money will cease to exist, i believe it will be replaced by Digital Money though I'm not saying that Bitcoin will took over i just think that they will adopt to digital money and might even use Blockchain (hopefully) though its kinda impossible because paper money is centralized after all. Were entering digital era, where everything runs through the internet, so for sure money will adopt as well.
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November 20, 2017, 04:11:23 PM
 #4707

If the big corporations see a future in bitcoin as they can make tremendous profits, in my opinion decreasing interest of paper money would be in near future because with the mainstream media all the people would be informed and the paper money would lose its value within time.

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November 20, 2017, 04:16:56 PM
 #4708

I like paper money, specially 50 paunds when its in my pockets:) But i believe that paper money will fade away soon. Bitcoin and the other electronic currencies will kill the paper money. It's safer and easier i guess..

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November 20, 2017, 04:22:50 PM
 #4709

I am not sure that someday paper money ill be excluded. Even in present days a lot of cities even don't have internet connection, bancs etc. But for now we are on the way to reduce using paper money and this is wonderful.

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November 20, 2017, 04:27:33 PM
 #4710

Crypto is the evolution of money. We as a believer knows that Bitcoin will someday be the superior of them all. Meaning, cash will be replaced by cryptocurrency. There are a lot of cyrptocurrencies created everyday and people are now starting to adopt the digital era step by step. I know one day it will come that we will be a cashless society.

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November 20, 2017, 04:52:07 PM
 #4711

True. I believe that paper money will soon be replaced by cryptocurrencies because of its efficiency, convenience and near real-time value. People will soon realize how convenient it is to transact using digital currencies because by then there will be equal value of what we buy and/or sell. Like for instance, you need not wait for change when you pay using fiat currency because by using cryptocurrencies, there is an actual equivalent to your purchase. That is just one of the many instances you will later realize once cryptocurrencies dominate the market. 

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November 20, 2017, 04:58:29 PM
 #4712

True. I believe that paper money will soon be replaced by cryptocurrencies because of its efficiency, convenience and near real-time value. People will soon realize how convenient it is to transact using digital currencies because by then there will be equal value of what we buy and/or sell. Like for instance, you need not wait for change when you pay using fiat currency because by using cryptocurrencies, there is an actual equivalent to your purchase. That is just one of the many instances you will later realize once cryptocurrencies dominate the market. 

   I think the same! No one can say when will this happen, reality is that now
cash have alternative, 10 years ago this alternative did not exist.
   Real-time value is something that is not yet achieved, from there all fluctuations
come.
   This year many new ICO`s appeared, and many companies joining. In my opinion
the end of traditional currencies already started! Member Zinkin said it will be a long
process and that is true, it will be but it is happening already.

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megynacuna
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November 20, 2017, 05:47:30 PM
 #4713

Paper money will stay because it's easy to use especially when you buy in small stores and I think the government won't stop paper money in favor of Bitcoin because there's a lot of processing and also everyone must have internet and that's the problem especially in poor countries
many say paper money is the perfect means of payment for now. even it is used by people all over the world. maybe for now, it's still very difficult to use digital money.

Yes,  for now that's what the world is used to and will enjoy that reign until all the conservative folks are out of the system and  the newer generation that is after tech-stuff will be ushered in to use bitcoin on a large scale. People are naturally reluctant to change and it will take time  for mass adoption of bitcoin as  a currency.



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Rainbot
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November 20, 2017, 05:51:08 PM
 #4714

Cryptocurrencies will never replace paper money. Paper currency is ruling the world since hundred years. It has reached in almost every part of the world. Even underdeveloped countries have their own currency. Cash currency is easy to use; have backing of government or economy, people feel secured in its use. Paper money have disadvantages, cryptocurrencies overcome these disadvantages to some extent. Still they are not enough or suitable to replace paper currency.

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November 20, 2017, 05:53:52 PM
 #4715

Nowadays, we can see that the future of the paper money seems to be catastrophic. These new virtual currencies are making a big threat to the powerful currencies like Euro and Dollar.

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November 20, 2017, 05:55:34 PM
 #4716

Nowadays, we can see that the future of the paper money seems to be catastrophic. These new virtual currencies are making a big threat to the powerful currencies like Euro and Dollar.
Wrong. Even though cryptocurrencies look promising right now, it's not very dependable or practical. It needs a lot more integration before it can become a serious threat to other currencies.

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November 20, 2017, 06:47:17 PM
 #4717

The future of paper money became indefinite when online currencies began. The thing is in the future, advanced technology will be the new treand and of course the payment system of the world should be able to adapt to that change. Therefore, money will be extinct by that time.

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November 20, 2017, 08:52:56 PM
 #4718

The future of paper money became indefinite when online currencies began. The thing is in the future, advanced technology will be the new treand and of course the payment system of the world should be able to adapt to that change. Therefore, money will be extinct by that time.

Paper money is going to die out of the world very soon, because of the way everyone is quickly going for bitcoin and cryptocurrency in general and  for the governments promotion of cashless society it leaves me with choice than to say that paper money will be extinct in the nesr future.



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Rainbot
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November 20, 2017, 09:07:11 PM
 #4719

Till date I have been using paper money. Recently came to know about bitcoin and started to use it, because I found this to be beneficial and growing. For the same reason I haven't stopped the using of paper money. From this I believe bitcoin grows higher and higher but paper money will be used forever.

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November 20, 2017, 09:27:04 PM
 #4720

Nowadays, we can see that the future of the paper money seems to be catastrophic. These new virtual currencies are making a big threat to the powerful currencies like Euro and Dollar.
Wrong. Even though cryptocurrencies look promising right now, it's not very dependable or practical. It needs a lot more integration before it can become a serious threat to other currencies.
The cryptocurrency is a real threat to paper money because there is no need for banks, so they try to make it look unimportant, but they are interested in the blockchain tech.

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