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Author Topic: The future of the paper money  (Read 415057 times)
alexs_03
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March 26, 2018, 03:49:40 PM
 #5641

Making people believe that paper money will be extinct in future is a mere fallacy. Many years ago, gold and other precious stones were used a medium of exchange. Many believed that with the introduction of currency, that these precious stones will disappear but they are still existing and are being used as base currency for many countries Grin Grin Cheesy
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March 26, 2018, 03:50:45 PM
 #5642

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 been around for a long time and has been widely considered by people all over the world, although I do not share the same wealth, I think money will replace the future of paper money. Because the world has been developing into a new one.

mininglegend1234
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March 26, 2018, 03:52:55 PM
 #5643

Paper money is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
Yeah exactly I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions and i think it is immpossible to eliminate it in the future.
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March 26, 2018, 03:55:22 PM
 #5644

Paper money is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
There is no doubt that the future of paper money is we will still bright and i believe that the paper is money is we will exist forever in this world unlike on the cryptocurrency that can die when people stop supporting it, and i believe that paper money is we will still the currency of all country in the future.
Galahad111
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March 26, 2018, 03:56:56 PM
 #5645

Paper money is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
It is about using it and replacing paper money. Trust is not an issue here it is the way of how it can be used by other people who dont know anything about it. Yes technology is at our hands but think about those who didnt know what is it. It will be a long time to explain and those people might also not listen or may be it will be eliminated completely who knows.
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March 26, 2018, 04:54:53 PM
 #5646

Paper money is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
It is about using it and replacing paper money. Trust is not an issue here it is the way of how it can be used by other people who dont know anything about it. Yes technology is at our hands but think about those who didnt know what is it. It will be a long time to explain and those people might also not listen or may be it will be eliminated completely who knows.
I think that's true, but we do not always depend on technology. in economic matters, I think digital money will remain digital money. and I feel that paper money will still be used, because it is simple money to use.

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March 27, 2018, 12:51:09 AM
 #5647

There will be a nice future for the paper money and thats because paper money will always be there and will never disappear a time. Bitcoins are nothing without trader's activity so dont think bitcoins take over the world it wont happen thats what i know.
The demand will be lessen in the future as more people will begin to use digital currency, and part of the most popular digital currency
is the cryptocurrency which we are using now. In time and with proper dissemination of information, people will be educated and will use what is best for them and I think crypto would play a big role in our life.

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March 28, 2018, 01:44:47 PM
 #5648

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?


I think paper money is bound to be replaced or to be extinct. Just look at how debit and credit cards work, I bet that if there were no cryptocurrencies, that would be the most effective or convenient way of innovation that mankind could think of when it comes to improving the payment system.


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April 01, 2018, 04:53:34 PM
 #5649

And I think that the era of ordinary money is coming to an end, in general, the entire banking system it has long been obsolete. Think about how many banks need money to work properly, it's a big waste, that's why this system will sooner or later go away forever.
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April 02, 2018, 03:21:06 PM
 #5650

Precisely, that's the explanation I settle for in spite of the actual fact that soon the pattern are going to be on the online or advanced money however at identical time larger a part of the final population. square measure utilizing paper money since it's easier and it's troublesome to instruct people to utilize on-line cash. this may simply offer United States another different for exchange and processed cash actually facilitate because the world is moving quickly recently.
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April 02, 2018, 03:57:09 PM
 #5651

paper money will be an offline transaction tool, as well as for traditional markets. bitcoin will probably be a promising transaction tool, but only for online transactions only. for offline transactions, still using paper money.

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April 02, 2018, 04:00:19 PM
 #5652

the future of paper money cannot be predicted now until there is total acceptance of digital currencies most especially in the economy of the developed world.countries like china and korea needs to adopt digital currency.
well, when all countries have used cryptocurrency, china and korea are forced to accept that development. well, although until now the use has not been seen. paper money may continue to be in use.

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April 02, 2018, 04:12:02 PM
 #5653

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 will be difficult, of course the government will not be easy to let that happen. Paper money is a symbol of a country, so it will be difficult if it is removed and replaced with crypto money.
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April 02, 2018, 04:23:50 PM
 #5654

It will still exist even though there are now many emerging types of electronic exchange tools because paper money is a means of exchange or payment that can be accepted by everyone. In the modern era money is used to shore up a country's economy.
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April 04, 2018, 11:18:00 AM
 #5655

Actually there is not future for that kind of money I think... More than half of the world is using credit cards.

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April 04, 2018, 11:29:36 AM
 #5656

Cashless transaction is more convenient than making transactions involving money withdrawal. Also, it is more secured for there are paper bills can be counterfeited. In addition, it promotes transparency. You can easily manage or track your expenses. Moreover, it helps the environment for there will be no trees cut if everyone uses cashless transactions. Therefore, in the next few years, more people will be engaged into cashless transactions.
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April 04, 2018, 11:59:03 AM
 #5657

I admit that paperless money transactions would be good but I don't think so that the government will allow that, given the possibilities that the economy will face chaos. We have to remember that not all people are into technology and virtual currency, they are not yet prepared for that innovations. It would be possible if not all the people but at least the 95% of it knows how to use and maximize technology.
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April 04, 2018, 02:20:55 PM
 #5658

I think the paper money will last and remain in the future. Because after all the paper money is the first generation of the medium of exchange. Paper money has also been attached and most often used by the public in general.
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April 04, 2018, 02:50:42 PM
 #5659

The future of bitcoin becomes difficult to maintain, this is because the less cash transactions, people prefer to transfer or use ATMs or credit cards for transactions that make many governments reduce paper money production.

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April 04, 2018, 03:18:29 PM
 #5660

Sure no future for paper money, we must go greeen

Bitcoin will someday have a card like that. but the use of paper money will always be used, even if it becomes a bitcoin currency, I'm sure bitcoin in the form of paper money will definitely be made I know that the time and growing use of credit cards has grown tremendously
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