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Author Topic: The future of the paper money  (Read 414607 times)
bapetdik
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November 30, 2017, 06:06:23 PM
 #4821

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
 #4822

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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December 01, 2017, 10:29:22 PM
 #4823

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
 #4824

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
 #4825

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
 #4826

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
 #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.
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
 #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?
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
 #4829

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
 #4830

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
 #4831

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
 #4832

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
 #4833

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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December 04, 2017, 04:18:38 AM
 #4834

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.

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December 04, 2017, 04:26:27 AM
 #4835

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.

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selectaselectine
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December 04, 2017, 04:54:19 AM
 #4836

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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December 04, 2017, 05:00:14 AM
 #4837

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.
People love to see different option to transact, and whether we like it or not, the reality is more people are getting benefited with paper money.
The only difference is that bitcoin is online and you can also invest if you want, but majority of people are just mere users, they want to play safe because they are afraid of taking risk, especially on the unregulated one.

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December 04, 2017, 06:42:34 AM
 #4838

The future of paper money is fully secured and established.It cannot disapper in the future.The daily transactions in the world are done by paper money.The illiterate and common man still use paper money for daily livings.Banks also give us paper money for loans.They do not pay us in cryptocurrencies as they do not have any control on cryptocurrencies.Many nations still do not know about the cryptocurrencies and cash is the only way.Cryptocurrencies are also in demand but it will it take many decades for them to compete with the paper money or fiat money.
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December 04, 2017, 06:44:54 AM
 #4839

The future of paper money is fully secured and established.It cannot disapper in the future.The daily transactions in the world are done by paper money.The illiterate and common man still use paper money for daily livings.Banks also give us paper money for loans.They do not pay us in cryptocurrencies as they do not have any control on cryptocurrencies.Many nations still do not know about the cryptocurrencies and cash is the only way.Cryptocurrencies are also in demand but it will it take many decades for them to compete with the paper money or fiat money.
But with digital money, there are too many advantages than paper money, there's still a chance for it to replace paper money and become the most popular payment in the world.
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December 04, 2017, 07:17:12 AM
 #4840

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
But maybe in the future it may change the situation because our community is getting bigger and also our technologies, we can say that also in the future paper money will be no longer useful to us just imagine that if put in the museum and in the future they will remember what we use in the past compare to there present.

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