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Author Topic: The future of the paper money  (Read 403646 times)
n2004al
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October 01, 2015, 08:14:16 AM
 #81

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 feel more powerful with bitcoin, as I have the reassurance that there are only 21 million of these coins, and they will most probably go up in price.

It will be so absolutely. Exactly because are and will be an fixed amount of bitcoins in circulation there will be always a higher price for them it it will be in use legally. It will be always bigger and bigger the number of people which will want  or need it and this will increase certainly its price in time. The question is only when. And if it will be regulated.
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October 01, 2015, 09:04:57 AM
 #82

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 feel more powerful with bitcoin, as I have the reassurance that there are only 21 million of these coins, and they will most probably go up in price.

It will be so absolutely. Exactly because are and will be an fixed amount of bitcoins in circulation there will be always a higher price for them it it will be in use legally. It will be always bigger and bigger the number of people which will want  or need it and this will increase certainly its price in time. The question is only when.

The price of bitcoin will grow exponentially over time. Because satoshi has designed it so. When, people widely uses bitcoin, then the existence of paper money will be rare. In internet we can not use paper money, so when internet commerce boom, paper money will fly away.

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jt byte
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October 01, 2015, 11:01:57 PM
 #83

There are some situation that cash(paper money) can do it job better than digital money.
I think that it will exists as long as we trade things (which means for a long time)
Its popularity maybe can be less than now but it can not disappear.

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Coinminer11
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October 01, 2015, 11:06:52 PM
 #84

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

If you are reading this,  you have too much time on your hands hahaha! If you're still reading this consider sending me some btc to my wallet on my profile.  Pennies make dollars and dollars make my life more interesting.  Seriously though stop reading this! LOL
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October 01, 2015, 11:09:30 PM
 #85

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

No they cant its very funny. Paper money burns badly and too fast, so it doesnt even generate enough heat to go through winter on it.

In some places the fiat money is literally worth less than goat shit, because goat shit burns better than fiat:

https://www.youtube.com/watch?v=ak1iojpiHpM

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October 01, 2015, 11:13:48 PM
 #86

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

No they cant its very funny. Paper money burns badly and too fast, so it doesnt even generate enough heat to go through winter on it.

In some places the fiat money is literally worth less than goat shit, because goat shit burns better than fiat:

https://www.youtube.com/watch?v=ak1iojpiHpM
I was making a joke lol. I honestly have never literally burned my money other than fireworks. Good to know though!

If you are reading this,  you have too much time on your hands hahaha! If you're still reading this consider sending me some btc to my wallet on my profile.  Pennies make dollars and dollars make my life more interesting.  Seriously though stop reading this! LOL
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October 02, 2015, 06:53:34 AM
 #87

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

No they cant its very funny. Paper money burns badly and too fast, so it doesnt even generate enough heat to go through winter on it.

In some places the fiat money is literally worth less than goat shit, because goat shit burns better than fiat:

https://www.youtube.com/watch?v=ak1iojpiHpM
I was making a joke lol. I honestly have never literally burned my money other than fireworks. Good to know though!

How about your gas stove or central heating? That is I guess the most literal form of burning your money nowadays Wink

With a bit of accelerant you get anything to burn. Wink

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October 03, 2015, 05:11:21 AM
 #88

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

No they cant its very funny. Paper money burns badly and too fast, so it doesnt even generate enough heat to go through winter on it.

In some places the fiat money is literally worth less than goat shit, because goat shit burns better than fiat:

https://www.youtube.com/watch?v=ak1iojpiHpM
I was making a joke lol. I honestly have never literally burned my money other than fireworks. Good to know though!
If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.

No they cant its very funny. Paper money burns badly and too fast, so it doesnt even generate enough heat to go through winter on it.

In some places the fiat money is literally worth less than goat shit, because goat shit burns better than fiat:

https://www.youtube.com/watch?v=ak1iojpiHpM
I was making a joke lol. I honestly have never literally burned my money other than fireworks. Good to know though!

How about your gas stove or central heating? That is I guess the most literal form of burning your money nowadays Wink

With a bit of accelerant you get anything to burn. Wink

Well its probably illegal to burn money paper notes in many places, so its even much worse than goat shit because you cant even use it for heating Cheesy Cheesy


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October 03, 2015, 10:41:46 PM
 #89

Physical forms of money will most likely always exist in day to day circulation, whether that be paper, metal, etc. Even long after the invention of email, we still send and receive paper mail. I'd say that once you see the need for physical paper documents diminish, the same will happen to physical money. This is unlikely to happen for a very long time, in my opinion. Even bitcoin, when/if it goes mainstream, might have a widely circulated physical form. As for whether the issuance of both physical and digital currency by central banks (fiat money) will stand the test of time? That's another topic of discussion!
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October 04, 2015, 06:48:33 AM
 #90

Untill the people get educated about the latest technology like bitcoin, paper money will not get extinct. Some asian countries like mine Nepal have more than 40% uneducated people for them even what is economy is unknown. I think it will take more than 500 years for the extinction of paper money from the world which is also only if bitcoin technology gain popularity in future.

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October 04, 2015, 07:27:25 AM
 #91

If paper money loses its value at least I can use it for firewood lol. I think there will always be some form of paper money, but I see crypto really taking over imho. Everything is going digital I could be wrong but I see it as inevitable in a good way.
over time will add crypto money and will reduce paper money. I think the paper money will not lose its value as a whole. possibly with a margin of 50:50 in the foreseeable future is a normal and fair.



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October 04, 2015, 08:55:02 PM
 #92

I dont think paper money will disappear,still many people all over the world dont have acces to internet,and so many dont have bank account.Also banks have worse and worse reputation
paper will stay,cash is ok


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owlcatz
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October 06, 2015, 01:10:08 AM
 #93

I dont think paper money will disappear,still many people all over the world dont have acces to internet,and so many dont have bank account.Also banks have worse and worse reputation
paper will stay,cash is ok

paper will stay,cash is ok

Should be my new sig! Wink

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October 06, 2015, 02:10:53 AM
 #94

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 is very valuable to some people more than the face value of it but I know it wont be long now that it will be gone because of the new technology it is amazing to find out that this will always help in the future.
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October 06, 2015, 02:45:48 AM
 #95

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 gone for good in the future.
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October 06, 2015, 07:42:49 AM
 #96

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 the paper money might be bleak.  One reason why digital money is now being used in some countries is it helps prevent crime.
Triple
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October 06, 2015, 04:33:54 PM
 #97

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 the paper money might be bleak.  One reason why digital money is now being used in some countries is it helps prevent crime.

Crime with money will happen whatever the method might be. Digital currency can easily be hacked



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October 06, 2015, 06:49:55 PM
 #98

I believe that paper money will remain the main and popular mode of payment in future also. 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.

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yayayo
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October 06, 2015, 07:34:48 PM
 #99

I believe that paper money will remain the main and popular mode of payment in future also. 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.

Never say never. It's the surveillance states' wet dream to abolish cash.

Imho it is reasonable that cash might be replaced by digital currency once the technology has advanced to a point where creditcard-sized digital currency wallets that allow instant transactions will cost only a few dollars. Hopefully the used currency will be Bitcoin, because then the state doesn't have full control.

ya.ya.yo!
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October 06, 2015, 08:28:14 PM
 #100

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.

I also think that government is not interesting in incorporating Bitcoin. They are terrified by Bitcoin
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