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Author Topic: The future of the paper money  (Read 413474 times)
kyanscadiel
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December 05, 2017, 05:54:07 AM
 #4861

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
 #4862

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
 #4863

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
 #4864

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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December 05, 2017, 06:45:36 AM
 #4865

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.
That's true the public is looking for something that they are comfortable of using with, paper money is very easy to use and it's not complicated
like the online currency so let us not think that this world will be a digital currency world in the future.

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December 05, 2017, 07:36:45 AM
 #4866

I don't think countries will ban paper money or fiat as it gives a great help in our economy, I can see world will go use crypto but without paper money? I don't think so

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December 05, 2017, 08:12:55 AM
 #4867

The future of paper money is as i tis now because the paper money will used forever as the technology is advanced but what about the less developed countries they are not able to use the digital and electronic money. the bitcoin is digital currency and it is most acceptable currency in the world.

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December 05, 2017, 08:24:57 AM
 #4868

Paper money will continue to exist for a long time. Especially in poor countries. In some countries, paper money is the only way to pay for goods and services. They do not know about the existence of bitcoin

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December 05, 2017, 08:35:00 AM
 #4869

Do not worry about it as it is in the next 10-20 years. Money continues to be circulated as a single currency accepted as a common payment method.
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December 05, 2017, 08:51:18 AM
 #4870

Do not worry about it as it is in the next 10-20 years. Money continues to be circulated as a single currency accepted as a common payment method.

I think that money will be used for the next 20-50 years. For countries with a backward economy, it will be difficult to change money for crypto currency.





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December 05, 2017, 09:03:34 AM
 #4871

Paper money will continue to exist for a long time. Especially in poor countries. In some countries, paper money is the only way to pay for goods and services. They do not know about the existence of bitcoin

Exactly, bitcoin maybe famous right now but not all the people have knowledge to it because some governments are doing nothing to introduce it to people especially to those people in rural areas. So the paper money continue to balance the society and also the practice of it must pass through different generations. And both have advantages and disadvantages so if one of the two will be gone there is a possibility our society to have a big problem. So maintaining this two is the best way for us to have more options about money in future.
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December 05, 2017, 10:23:24 AM
 #4872

Do not worry about it as it is in the next 10-20 years. Money continues to be circulated as a single currency accepted as a common payment method.

I think that money will be used for the next 20-50 years. For countries with a backward economy, it will be difficult to change money for crypto currency.
That is not true because i watched a video in facebook that is telling about the Zimbabwe going into cashless and that is almost the same with using cryptocurrencies because you don't need a fiat or physical money anymore because you can just depend and be full force in cryptocurrencies as a daily basis currency and many more things that you can get benefit in crypto.

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December 05, 2017, 03:52:10 PM
 #4873

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.
The future of paper cash is likely dull , on the grounds that as we are watching that bitcoin gives remarkable offices to client which paper cash can't care for simple exchange , high security and high rising rate in the market. It draw in individuals toward itself and power them to put resources into bitcoin. The paper cash will probably lose the high significance and may utilize just for hand to hand exchange just, for example, day by day life purchasing and offering.

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December 05, 2017, 04:17:47 PM
 #4874

Maybe somewhere it will stay, in countries like Japan - they still use paper money more then cards, but in the other world i think it will disappear
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December 05, 2017, 05:03:10 PM
 #4875

paper money is going to disappear people will start accepting crypto and no one will use paper money
because of this the government would have no option but to all digital money to continue

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December 05, 2017, 05:54:19 PM
 #4876

Maybe somewhere it will stay, in countries like Japan - they still use paper money more then cards, but in the other world i think it will disappear
Japan is a developed country and it can be considered as one of first countries which accept cryptocurrency. I do not think that the people use paper money more than card in this country. People receive their salary through the internet banking in Japan. I believe that Japan is the best place for the cryptocurrency and digital currency to develop



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Psyloc9302003
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December 05, 2017, 06:30:13 PM
 #4877

paper money will not be replaced by btc. it may affects its value but definitely it will not replaced it. money is still money people will still settle to what they can see and feel. buying from international market or store that is where btc will come in handy or transferring money from one country to another.
Poppy5555
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December 05, 2017, 06:41:18 PM
 #4878

Hi and Welcome to Bitcoin Forum! Smiley

Paper money is going to disappear and people will start accepting cryptocurrencies and no one will use paper money due to increase in the use of Digital currency.Peole are using more digotal currencies to invest their money to gain profit.When the market of cryptocurrency will continue to expand then the government would have no option but to  allow the digital money to continue.
But it doesnot mean that the paper money will become extinct!
Holopopstyir
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December 05, 2017, 06:43:59 PM
 #4879

Even now, paper money is already a thing of the past. A large amount of paper money can not be "honestly" owned without proper documents. In the future, the role of paper money will be purely museum.

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domari
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December 05, 2017, 07:06:20 PM
 #4880

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?

The future of paper money I think will continue to exist but the amount is reduced. Because the technology is getting better and every payment can be done with debit or digital currency. But it will not get rid of paper money. Paper money will continue to exist.

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