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Author Topic: The future of the paper money  (Read 415057 times)
Tungsten-1
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March 10, 2018, 06:03:54 PM
 #5501

The future of paper money will later in the future indeed disappear as you can see now you see also that the value is not even getting higher and that is the problem. But it will be nice if Bitcoin is getting more popular and also more acceptable.
The future of the paper money is nowhere to be seen because either way the crypto currency enters into the government sectors or not the paper money is being wiped out from everywhere. Even small start ups which have no international links have started dealing in the money in the banks because there are many countries in which paying the employees through paper money is considered as unprofessional. In future, either we will go cashless via credit cards or via digital currency.
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Black Angel
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March 10, 2018, 06:33:48 PM
 #5502

Paper money is the identity of a country, I am sure that whatever the circumstances happen then the state will keep paper money so that will never disappear, besides with paper money people can deal directly without having to depend on the internet.
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March 10, 2018, 06:40:35 PM
 #5503

Paper money will remain, but they will no longer have such a force on the market, people will use electronic money more often, cuz it's more useful.

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March 10, 2018, 08:45:42 PM
 #5504

It is in England not in all the nations in this planet earth. Fiat will live long from now before it will happen. From England to another country, then from another country to another country until such time that fiat is demolish in this world.
I think it would be more correct to say quite differently, to destroy everything and paper money, and crypto currency. But there is only left for wealth on earth and this is gold. I think that people themselves will destroy, And gold will remain on this planet.

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March 10, 2018, 08:58:37 PM
 #5505

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?


It has plenty of future. Many of the money launderers of the world work in cash because is much more difficult to trace and while that exists it will have a future.
Gameroid
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March 10, 2018, 11:43:17 PM
 #5506

In poorer countries where people do not have access to the Internet and are not accustomed to the digital world, paper money will continue to be used, but modern countries will use crypto currency instead of paper currency.
But to me i think that in current time even in modern countries people can only use bitcoin as an optional, because even they do not have the facilities to use bitcoin for everything they want. I think that they can only use bitcoin for shopping online and may be in some offline stores for shopping limited varieties of products.
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March 10, 2018, 11:53:57 PM
 #5507

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?


It has plenty of future. Many of the money launderers of the world work in cash because is much more difficult to trace and while that exists it will have a future.
Yes we are facing some problems related to bitcoin but i think that still the benefits that we are getting from bitcoin are more that its drawbacks, and hope that withe the passage of time these drawbacks and limitation will decrease too much and then bitcoin will become too much useful for us, in current time we just need to give support to bitcoin.
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March 10, 2018, 11:59:57 PM
 #5508

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 will stay banks will like to burn all paper money
if you have cash in your pocket your money is your money and your pocket is your bank
banks hate that
Semosuchi Tesongrato
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March 11, 2018, 10:25:31 AM
 #5509

There is still a long way to paper money replacement, as it will very difficult to change people habits.
(don't forget, 2 billions people don't have a bank account...)
But with time, if there will be a more general acceptance of crypto, it could happen.
But not so fast.

jakoylantern
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March 11, 2018, 10:38:47 AM
 #5510

For me, the future of paper money is still compelling. Yes, bitcoin is famous and expensive but, the acceptance of bitcoin is still very low comparing to real money. Even we obtain bitcoin or earn bitcoin we still need to convert it or cash out it to use it to buy the things that we need, and we want. Even some establishment accept bitcoin as a payment most of them are still not accepting bitcoin as payment, and they still prepare real cash or money.  Smiley
kive2k
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March 11, 2018, 11:01:12 AM
 #5511

In the future, we will not see paper money that's for sure, only when? Still it is necessary to do a lot of work for full transition to electronic currency
doreraj
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March 11, 2018, 11:26:38 AM
 #5512

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?


not sure of course but supposed several ways how it can be.
in many regions, people didn't have a bank account or even notebook till it stil real paper money will be...
CongHoan
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March 11, 2018, 12:09:40 PM
 #5513

it would happen in next 10 years Roll Eyes

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Kisanaq
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March 11, 2018, 12:35:47 PM
 #5514

Many people predict that the future of paper money will be in danger of disappearing because of digital money or cryptocurrency, but I am sure that paper money will last forever because transactions in all countries can not rely solely on the internet.

waiting
vergel24official
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March 11, 2018, 01:28:54 PM
 #5515

Future might be coming, but cash will be their, it is easier for the consumers and vendors is small transactions to use cash. And think nit all the people has an access to the internet not all people are rich.
Nyeyzel
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March 11, 2018, 02:48:57 PM
 #5516

The future of paper money will not going to lost because more people want to use physical money so they can keep them and use them easily. And us for now many of the people don’t even know how cryptocurrencies work. In some area, they don’t have an internet connection that the digital currency need to function and (IF paper money will be lost) there will be no transactions of business in that area . Paper money will remain, it may have a chance to decrease the users because of some people especially the online shoppers use bitcoin us a mode of payment.
yslyv
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March 11, 2018, 02:54:51 PM
 #5517

The future of paper money is not so nice. It will not totally end but popularity will go down day by day. Because credit cards are much easier many people do not carry paper money nowadays.


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Bondho Kompeni
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March 11, 2018, 03:04:35 PM
 #5518

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?


It has plenty of future. Many of the money launderers of the world work in cash because is much more difficult to trace and while that exists it will have a future.

Money laundering crime is always present with or without bitcoin, if anyone thinks that the presence of bitcoin will make money laundering crime rise of course this is wrong, people will not dare to put big money into bitcoin because it is very risky.


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Gheka
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March 11, 2018, 03:37:49 PM
 #5519

The future of paper money is not so nice. It will not totally end but popularity will go down day by day. Because credit cards are much easier many people do not carry paper money nowadays.
But I believe the popularity is only reduced to a certain extent because although I know society will be more modern and developed in the future, however many people will still like simplicity and convenience, not everyone likes to use credit cards. We can see a clear fact in this society, credit cards are still in the development phase, people always prefer to trade with paper money, it almost has become a habit in the transaction, want to change that in the future, it will be a long process, can take many centuries
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March 12, 2018, 05:41:09 PM
 #5520

In the future, we will not see paper money that's for sure, only when? Still it is necessary to do a lot of work for full transition to electronic currency
Yes, it is very true that in future the use of the paper money is getting lesser day by day and people are relying more on cashless pays and perks. In Australia people do not get the cash for their pay because the government don’t want them to keep the paper money in their pocket so that there can be less crimes in the street for snatching. Now time will decide whether people will go for electronic money or the digital money in the future but it is too soon to comment on that now.
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