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Author Topic: The future of the paper money  (Read 413474 times)
ducnh1022
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November 30, 2017, 01:49:32 PM
 #4821

Paper money had been going to an end since internet banking existed

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November 30, 2017, 01:54:27 PM
 #4822

it is very unlikely that paper money will be banned because it will be very difficult to fix the new system. This could happen but it seems very old and needs socialization to all citizens and make everyone believe in crypto money rather than paper money, if it can then it will work. I do not know the risks but the address error in the delivery of crypto currency can make money charred.

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November 30, 2017, 02:25:35 PM
 #4823

Paper money had been going to an end since internet banking existed
I don't think so; people are using the paper money since from the ages and using it as a mode of transaction, it is like an unprecedented success to the paper money, even though the impact of digital currency in growing like anything, the future of paper money will not be affected.

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November 30, 2017, 05:55:24 PM
 #4824

I think the main point is not about the "paper" or not, but the currency itself. Assume all nation worldwide has paper money of their currencies. They (every country) can make "non-paper" or digitalized money IF THEY WANT. Ex; Japan can make their JPY in digital version, US also can make their USD in non-paper money if they want to. The matter is as long as the value of that currency is as expected in control, no matter the physics. Once more every country can make their currency in non-paper, means paper money extinct (IF THEY WANT)

The question then is why they still considering paper money? The answer can be started from question too : are the grass-root citizens ready to use digital currency? When the rich one also "techie" can make a purchase by just tapping their smartphone on the payment system device, then how the poor-slum-dog can buy something? What to be tapped?

Then I think the answer of your question about the future of money is it can be still exist, or can be extinct.
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November 30, 2017, 06:06:23 PM
 #4825

I think paper money will not disappear. Only its use will decrease and people prefer digital currencies like bitcoin. Banknotes are still used because paper money is different portion with bitcoin. They have their respective places. So the paper money will continue to be used.

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December 01, 2017, 02:07:20 PM
 #4826

I guess paper money will disappear in no less that 100 years. During this time it will be used in parallel to crypto money
I believe that technology will change the world including the currency. along with the times paper money will start rarely used many people will start thinking to use a flexible currency and easy to carry then digital currency will be more popular and more widely used. paper money will disappear soon #IMO
Paper money has become an old fashion in developed countries and it is simply used at peak in underdeveloped or developing countries. With the increase in technology, paper money is unable to cope with the latest demands of people especially that of business class. It is not easy to transfer paper money physically from one place to another and not even via banks. This is the reason why digital currencies are growing fast.


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Paecga129
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December 01, 2017, 10:29:22 PM
 #4827

Paper money will soon be eliminated from developed countries.

That is, unless developing countries decide to take a flyer on Bitcoin and test the waters so to speak. If it ends up working for them they could become one of the richest countries in the world, and consequently more powerful as well.
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December 01, 2017, 10:33:32 PM
 #4828

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?


So you're trying to say replacing bitcoins with paper money? Is that so ?  It will never ever happen money can't be disappear. First of all you need money to buy bitcoins after that you invest with it. If the money got disappear where you guys bought the bitcoins? If you think there will be only bitcoins then thats almost impossible as there Internet is not accessible everywhere, not in every village and every corner of the world.

Second one its a digital currency nobody can control it and it have no fix price. Government never will want such currencies which are out of their control.

1. We can using Bitcoin as the primary currency for the world's economy, there is no problem as long as all people accept Bitcoin.
2. Yeah, the government never accept Bitcoin, they never want to use a currency can not control by them, it is risky for the world and also for them.
Hmmm, some people are saying they don’t want cash anymore. Well, that will be really nice, at least when bad boys steal our phone they will also be stealing everything we have if our phone has our Bitcoin wallet in it, very good, I know most of you wants that. Lots of people will start learning hacking, so that they will be able to hack wallets and steal bitcoins from them.

I know most of you will really like that; loosing everything you have in the hands of hackers. Think twice! We can’t do without cash and bank, they will always be needed, only a fool says he don’t need them.
I agree with you but do you think that we need them in the future? people see the future with great stuff like robots and flying cars why still keep something old like cash still in the future when u have crypto currency's?
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December 02, 2017, 01:38:36 AM
 #4829

I think paper money will always be available, bitcoin or virtual coins will not replace them

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December 02, 2017, 02:52:15 AM
 #4830

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

we can see that paper money are slowly disappearing because of those digital currency that are appearing now. thats what happening in the world right now. one day you will notice that there are no paper money, money will be intangible. we cant be sure about the future but we can be sure that something strange will happen.
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December 02, 2017, 03:03:02 AM
 #4831

Paper money will soon be eliminated from developed countries.

That is, unless developing countries decide to take a flyer on Bitcoin and test the waters so to speak. If it ends up working for them they could become one of the richest countries in the world, and consequently more powerful as well.
you are wrong. it will only make the developed countries difficult to get out. even if there is a paper money abolition, it must be approved by all countries. because, when you get out of your country, you will also use paper money as a legal means of payment.

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December 02, 2017, 04:23:26 AM
 #4832

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?


So you're trying to say replacing bitcoins with paper money? Is that so ?  It will never ever happen money can't be disappear. First of all you need money to buy bitcoins after that you invest with it. If the money got disappear where you guys bought the bitcoins? If you think there will be only bitcoins then thats almost impossible as there Internet is not accessible everywhere, not in every village and every corner of the world.

Second one its a digital currency nobody can control it and it have no fix price. Government never will want such currencies which are out of their control.

1. We can using Bitcoin as the primary currency for the world's economy, there is no problem as long as all people accept Bitcoin.
2. Yeah, the government never accept Bitcoin, they never want to use a currency can not control by them, it is risky for the world and also for them.
Hmmm, some people are saying they don’t want cash anymore. Well, that will be really nice, at least when bad boys steal our phone they will also be stealing everything we have if our phone has our Bitcoin wallet in it, very good, I know most of you wants that. Lots of people will start learning hacking, so that they will be able to hack wallets and steal bitcoins from them.

I know most of you will really like that; loosing everything you have in the hands of hackers. Think twice! We can’t do without cash and bank, they will always be needed, only a fool says he don’t need them.
I agree with you but do you think that we need them in the future? people see the future with great stuff like robots and flying cars why still keep something old like cash still in the future when u have crypto currency's?
I agree to your point. Having the old kind of payment system is just like staying in the old times, we need something new that will give us progress that we are going to be on the advanced mode of the world and also in terms of payment system. Cryptocurrencies or digital currencies will be the key for us to step up and be advanced in terms of technologies and payment system.

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December 03, 2017, 04:55:13 PM
 #4833

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?


So you're trying to say replacing bitcoins with paper money? Is that so ?  It will never ever happen money can't be disappear. First of all you need money to buy bitcoins after that you invest with it. If the money got disappear where you guys bought the bitcoins? If you think there will be only bitcoins then thats almost impossible as there Internet is not accessible everywhere, not in every village and every corner of the world.

Second one its a digital currency nobody can control it and it have no fix price. Government never will want such currencies which are out of their control.

Everything have its own value and paper money have also its own value because it also work and you can use it for different things but know world is going to change everything is going modern and bitcoin is also one of the good example of it because bitcoin is a digital currency and its available only on internet its price is also very high than any other currency and you can also do daily trade and investment here so I think bitcoin is better than paper money.

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December 03, 2017, 07:44:15 PM
 #4834

Ethereum can overthrown bitcoin, etereu will a real job and it has a genuine worth, bithmin is a total waste of energy and hardware. I love ethereum and all sorts of other blockchain virtual devices like NEO etc..oc
Paper money have also it's own value because when digital crypto was not in market so people where using money and at that time paper money also play a very good role and as we know that is a modern world and every things are going to convert to this modern technology and bitcoin is also the example of this modern technology and its performance is also much better then paper money so I will prefer bitcoin on paper money.
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December 03, 2017, 08:20:36 PM
 #4835

Government support exists for paper money as they bring such system into live for people. The limit of bitcoin that will be produced, it won't suffice to supply the whole population, even if it goes mainstream, it won't change anything about paper money. Digital mode of currency is trending even in FIAT along with bitcoin because not all people can access it specially for the poor people and they will prefer to have paper money than individual digital currency.

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December 03, 2017, 08:22:13 PM
 #4836

unconditionally cryptocurrency opens up new opportunities for us and perhaps a new stage of the economy...if the world abandons paper money, it will not be soon...there should be enough time...and personally I hold the opinion that this can't happen


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December 04, 2017, 04:15:56 AM
 #4837

unconditionally cryptocurrency opens up new opportunities for us and perhaps a new stage of the economy...if the world abandons paper money, it will not be soon...there should be enough time...and personally I hold the opinion that this can't happen

Paper money will continue to be useful to us, I don't see any change that it will be replace by a digital currency and not bitcoin because it's decentralized.
There will be a lot of improvement in the future but definitely what we will witness is that more people will also use bitcoin.

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rapperug92
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December 04, 2017, 04:18:38 AM
 #4838

I think the paper money is still rule the money system because digital money couldn't replace them for sure. There are many features that digital money doesn't have.

aishyoo17
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December 04, 2017, 04:26:27 AM
 #4839

The paper money will still be around for long and I think cryptocurrency won't eliminate paper money that easy and for me using both crypto and paper money is good. More options to choose from depends what kind of transaction you do and of course the location you have since not every corner of the world has internet.

selectaselectine
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December 04, 2017, 04:54:19 AM
 #4840

I think the paper money will still be existing in the future since it has been very convenient from the day it was used up until now. If there will be changes it might take time to make it happen.

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