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Author Topic: The future of the paper money  (Read 414652 times)
Hatuferu
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December 25, 2017, 06:26:09 AM
 #5041

The use of digital money continues to grow, we can see that almost all transactions do not want to receive cash and must use digital money so I'm sure that the future of paper money will soon disappear.
The population is growing so you cannot just say that paper money will disappear, if we can only make all people adopt with the online currency
it would be possible but the reality is not, most people are still uneducated with online currency and they will continue to patronize paper money.

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December 25, 2017, 06:53:08 AM
 #5042

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?

In the future, paper money continues to be the most popular currency in the world and it still dominates the monetary world. I do not have any idea what altcoin can replace it in the future.

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December 25, 2017, 02:24:35 PM
 #5043

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.
I agree with I also like that way to know by other people that you can also make things happened using a paper money but I also say that paper money is more better than bitcoin because bitcoin for me is more better than paper money.
Paper money is more better to be use for transaction because you do not need to do it online, you can transact very simple and fast.
Bitcoin will become more popular because it's also a great investment and those people who love to transact online can benefit with the decentralized system.
Fair enough but want about side effect of carrying a lot of money with you?? If you are not aware of it then I can tell you better, see if you are having a lot of paper money you can be charged for extra payment as well and will lose your money. the other side effect of paper money is robbing anyone can snatch your money, I personally do not like paper money and I can carry my bitcoin wallet with lots of bitcoin in my pocket and can use without any fear any time.

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December 26, 2017, 12:19:30 PM
 #5044

I don’t understand why people are so worried for paper money. Paper money is here since hundred years & will remain there for next so many years. As compared to $83 Trillion world economy, fiat currency has $31Trillion where as cryptocurrencies share is $100million. So how fiat currencies future is in danger? Fiat currency is the most convenient and highly used currency in all parts of the world. Their centralised nature assures its holder a security. They are owned and controlled by government or by central bank so less volatile in nature. Any class of society can use it without any infrastructure.
People are worried about paper money because governments want to eliminate cash and while bitcoin creates an alternative to fiat at the same time it is another blow to paper money, paper money is incredibly practical and that is why it is still used all over the world as one of the preferred payment methods.
It would be first choice only for those who are living in underdeveloped countries but for those who belong to developed sates are not going to prefer cash over digital currencies.

Bitcoin is the best digital currency and we all know that the number of bitcoin users are increasing day by day which indicates that bitcoin is the future currency of the world and it would easily replace paper money. In short, the importance of paper money will decrease.


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December 26, 2017, 12:32:22 PM
 #5045

Paper money will be never eliminated since there is somewhere you can not use the internet.

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December 26, 2017, 12:40:15 PM
 #5046

I think the future of paper money is worst day by day. When the digital money is taking the lead at this moment.
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December 26, 2017, 12:40:39 PM
 #5047

Paper money will be never eliminated since there is somewhere you can not use the internet.

Yes it seems so, paper money never disappear because the state protects completely, paper money is the symbol of the country so anything will be done to protect paper money.

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December 27, 2017, 04:56:48 AM
 #5048

I don't think that the paper money will be banned entirely as i feel it as something foolish even if some of the government are trying to implement complete digital currency i don't feel they will ban paper money as it will affect the people in low class society.
Funny, and what is future technology without paper money. No matter how far technology goes, there will always be a paper money cause they are very important. Even if not used by majority of the people, they will always be found in Banks. You should first of all reason, before you comment and not just comment what you feel like commenting.

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December 27, 2017, 06:11:02 AM
 #5049

I dare to ensure that the future of paper money will continue to survive because as we know that paper money is a tool of the state that will be protected until whenever, besides without paper money will certainly make bigger problems in the state transactions.

                                       
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December 27, 2017, 06:30:13 AM
 #5050

The paper money is now using all over the world it is easy for every one to use it every where while the digital form of money it is difficult for uneducated people and in the less developed area it is hard to educate them for accepting bitcoin as a payment currency. in the future may the use of paper money will be less as compared to the digital and electronic money.

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December 27, 2017, 08:00:01 AM
 #5051

Bitcoin will continue to survive especially now that it is stable , good price and used by many . I make sure that they will be silent and began to trust the bitcoin. It will then do something better than anyone else .

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December 27, 2017, 08:24:56 AM
 #5052

I do not understand what state-backed digital currency based on bitcoin means? They will probably create their own state-backed digital currency but surely independent of bitcoin, because otherwise how could they manipulate its value and the economy?

This is probably centralized cryptocurrency supported by governments. It's more like digital money rather than literal cryptocurrency.
Paper money will definitely decrease in use with the increase in popularity of bitcoin. No one is in favor of carrying cash all the time. Cash is something which makes you liable to robbery whereas plastic money and digital currencies are securer than paper money in this regard.

The future of paper money is quite bleak and the reason is very obvious. It is mostly hard to manage it even in banks or at homes. You need to pay taxes all the time.

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December 27, 2017, 08:36:46 AM
 #5053

Paper money is the current currency and Bitcoin is the future digital currency. Somewhere around a decade before people used gold and silver coins for exchange, slowly that has been converted to paper and this would slowly converted to digital (cryptocurrency). It my take years but for sure crypto currency would replace paper currency.

Government wants everything in their control and cryptocurrency is not with their expectation since Bitcoin is  decentralised one. This makes government to slow their drive in cryptocurrency. May be this would change if any developed countries accept Bitcoin first and other countries may follow them.

As mentioned in your post that England is planning for digital economy, may be this is the stepping stone for cryptocurrency to replace paper currency.


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December 27, 2017, 08:45:00 AM
 #5054

There is no future for paper money. The currency you have in your pocket today is probably the last currency that will be printed. Its all going to be crypto currencies

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December 27, 2017, 09:20:38 AM
 #5055

The future of paper money will continue to survive until whenever, not all things can be eliminated, the current example is a book from the paper can still survive though whitepaper easier to use.
I agree, I think paper money will continue to survive, paper money has existed thousands of years ago and thousands of years paper money will continue to be available, state protection is a guarantee that paper money continues to survive.

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December 27, 2017, 10:08:41 AM
 #5056

banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.

Not all the people think like this several courtiers are even thinking to make bitcoin as the legal and regular money of their country. For me whenever I go to some markets I mostly saw a board written as bitcoin payment service is available. So it is not a big deal to have bitcoin now a lot of countries are going to make it legal. Bitcoin demand is now very high and people are using it as legal currency so future of paper money it in danger zone.
Many people complain about the use Bitcoin. But when they know the real benefits of Bitcoin they become fan of it. The Bitcoin is the only crypto currency which got the level of popularity. That’s all because of its unique qualities. Bitcoin has many advantages over the paper money. There is no any fear of theft of Bitcoin as compare to paper money. We need to help of banks to save our money.
This is what it is happening all over the world, people that were against bitcoin are realizing the amazing currency that is bitcoin and they are beginning to adopt it, it is not going to be long before bitcoin becomes adopted by a huge amount of people and we will be able to use it in our everyday lives.
The usage of paper money has tremendously decreased by now especially in developed countries where plastic money was very common before the invention of crypto currencies. People feel burdened when they have to carry cash with them all the time.

There are maximum chances of getting robbed when you are having cash with you but this is not seen with bitcoin. Bitcoin is having very clear edge over cash.

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December 27, 2017, 11:11:53 AM
 #5057

In my opinion use of paper money will go to considerable decrease. The cryptocurrency is the ideal tool on their replacement. However time hasnt come completely to replace yet. it will be smooth process within many years.

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December 27, 2017, 12:22:47 PM
 #5058

For my understanding the future of paper money maybe will decrease in the future. But paper money will never be gone. Its only decreasing because we have a new generation that money will be always money even if it visual or crypto currencies.

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December 27, 2017, 01:34:47 PM
 #5059

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?


Over time the paper money will be abandoned and switch to krypto money. but not for now. Because some people still use paper money as a mandatory standard to conduct transactions.

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December 27, 2017, 01:42:54 PM
 #5060

I think if the big countries already supported bitcoin then I would say that bitcoin will be the king and the paper money will ends.

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