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Author Topic: The future of the paper money  (Read 415034 times)
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December 04, 2017, 08:02:05 AM
 #4841

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.

That's true. Besides, who will use bitcoin in retail stores when you have to pay the transaction fee with almost same or more than the amount that you are going to buy. I would only believe that bitcoin will wipe out paper money when there is a subsidy from the government( they would shoulder the transaction fees  each time we use bitcoin in real life ).

Paper money is more convenient and I think a digital form of it might come true before the government will consider bitcoin. I still believe that paper money will live maybe even after most of us are already gone.

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December 04, 2017, 08:11:51 AM
 #4842

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?

Actually it depends on government regulations to formally make direct decisions such as what about bitcoin, of course, there is still possibility that paper money can be replaced with digital money as well as make people automatically comply with government regulations gladly without any constant coercion.

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December 04, 2017, 08:41:56 AM
 #4843

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.
i think it depends  if the governments allow or legalize  the digital current in the countries with a proper system . if i don,t say its a capital revolution buti n my paper money into 10 to 20 years will dissapear into developed countries no more printed money into bill notes or coins that its becoming digital and digital currency will not evolve much cause euro and dollar and yen are already digital so the coin digital currencies must be off the bad markets to become more stable.
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December 04, 2017, 08:55:46 AM
 #4844

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.
For so many years, we have managed to get rid of traditional letters in envelopes, airline tickets, .so it's time for change and paper money

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December 04, 2017, 09:03:04 AM
 #4845

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.
For so many years, we have managed to get rid of traditional letters in envelopes, airline tickets, .so it's time for change and paper money
Actually, why  paper at all? It can be a new kind of "smart" credit card. The virtual currency has its charm because it is the forerunner of a turning point in the history of money - change

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December 04, 2017, 09:26:50 AM
 #4846

In future bitcoin might also get a paper money form. Bitcoin usage will get increased when it gets the paper form.
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December 04, 2017, 11:28:51 AM
 #4847

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.
For so many years, we have managed to get rid of traditional letters in envelopes, airline tickets, .so it's time for change and paper money
Actually, why  paper at all? It can be a new kind of "smart" credit card. The virtual currency has its charm because it is the forerunner of a turning point in the history of money - change
The cryptocurrencies will become the source of idea for the future of paper money and that kind of ideology will make the government to make their own type of digital currency that will bring more thing to the people for being convenient in their money. The future of paper money is still bright like it used to be because the governments will not let the paper money to disappear.

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December 04, 2017, 11:42:35 AM
 #4848

bitcoin does not have a centralization like fiat money so maybe that's what the government is less interested in bitcoin. but bitcoin will not be able to replace fiat which is a legitimate currency that is used in various countries.

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December 04, 2017, 12:10:12 PM
 #4849

Paper money might be very much around when that future is arrive. It is hard to replace paper money by a currency that exist only in the virtual world unless the way we live is also virtualized or digitalized. In the future, there might be a cryptodollar or a cryptoruble because in virtual world, all is possible.

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December 04, 2017, 12:33:06 PM
 #4850

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.
It is true that the future of paper money is fully secured. It is also true that the fiat currency will never be replaced by the digital currencies. I believe that people will not easily adapt the digital currency.


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December 04, 2017, 12:54:27 PM
 #4851

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.
It is true that the future of paper money is fully secured. It is also true that the fiat currency will never be replaced by the digital currencies. I believe that people will not easily adapt the digital currency.

That's right, this is not as easy as what is thought because it is not so easy to forget the paper money we already know. Wink
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December 04, 2017, 11:49:27 PM
 #4852

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.


As what other business policy, "credit is good but we need cash". Sometimes people prefer to use paper money than Bitcoin for some reason. Paper money is easy to use, you don't need to convert or exchange in your own currency just to buy simple stuff. So I agree with you, paper money is much better that using Bitcoin in buying such things. And also paper money is controlled by our government so it is secured whatever happens in the future.
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December 04, 2017, 11:51:07 PM
 #4853

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 has no future, e-currencys are making all the way, even govs are creating own coins.

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December 05, 2017, 12:41:37 AM
 #4854

I think paper money have its own importance and will never dead. It's faster to buy some food or in a convenient store or in a market using paper money you'll just handed it.
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December 05, 2017, 12:45:10 AM
 #4855

I think it will be replaced by cryptocurrency and other e-currency
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December 05, 2017, 12:48:35 AM
 #4856

Of course time will definitely come when Paper Money will eventually die. That is a very normal occurrence considering that there is such a thing as evolution in our society. It used to be actual gold and silver and bronze and then eventually money was invented and agreed to hold a value even if it does not have intrinsically any value at all. It was made primarily for commercial purposes. And when the world goes digital in the future, a digital currency will also take place.
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December 05, 2017, 05:54:07 AM
 #4857

Paper money will never disappear in the universe. It is used by many people and it is very impotant on our daily living. Not all people uses credit cards because not all people can afford to use credit cards. Eventhough we are already living in a digital world, still there people who cannot interact with the internet. That is why the future of paper money will still remain and will never disappear.
 

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December 05, 2017, 06:04:36 AM
 #4858

Paper will be gone so there will be no paper money.
USD will be eUSD and also for all other currencies around the world will be electronized.
All currencies will be stocked inside electronics, networks and computers.
Bitcoin and altcoins are just a prototype for the future of currencies.
There may be no bitcoin or none of these altcoins after 5 years but there will be something bigger so we are in the edge of digitalization of economics as 100%
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December 05, 2017, 06:26:24 AM
 #4859

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?


Now that the digital money is getting acknowledge by the government and bitcoin's rate is getting higher, I think paper money will be useless in the future cause we are evolving like so are money. In the near future those paper money will be in a museum or a collection to us.
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December 05, 2017, 06:30:09 AM
 #4860

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.

Well its not that they are not interested but well we can say that for now they are not aware what is the legit purpose of the existence of Bitcoin, I think they dont have the idea yet on how a country can be a better one with the help of acwuiring bitcoin in the society. The paper money will still remain, several testimony says that cashless society will never be a good thing to public.

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