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Author Topic: The future of the paper money  (Read 403638 times)
arwin100
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May 15, 2016, 01:00:21 PM
 #901

Hope paper money will not dissapear, cause many times i was on situatins when digital money can't help and only cahs can save. Bad idea to change everyting at once.

Exactly there are many places where only paper money can help us, like paying bills, paying to maid or servant, and for that bitcoin will not help.

Well Said, there are few places where we can't use bitcoin and other digital currencies however the technology gets advanced. So in my opinion if the world becomes currency free then paper money use might gets stopped.

Each and every paper money represents their country, its a pride and symbol of their country, and Government will never allow that to happen as they will loose all their power and control on the money.

Thats right paper money is strong curriency because each of it represents strong countries and it symbolized the economic state and power for each currency, sad is say bitcoin could never turn down the physical curriency because most if all people prefers money that they can touch rather than floating money, government would rather not accept for the fact it will be replaced by bitcoin.

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May 15, 2016, 01:07:33 PM
 #902

If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep


It will never despair I mean the paper money since long time ago in the bingeing there was varieties kind of coin and changed now day by day the coins are going to be usefulness,but paper money will stay for longer, if we think or check about paper money then it will stop for ever,now some of us get question how? There is several kind of card Master card, Visa card , Debit Card and Credit card ect. it is going to stop paper money later on.    
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May 15, 2016, 01:54:25 PM
 #903

The global trend is to increase the use of digital payment processors and to lower the use of cash for purchasing goods and services that are done mostly online nowadays. I have read that the Nordic countries are trying to create a cashless society where people don't need to bring cash with themselves at all and everything can be bought with credit cards. Paper money is still very much needed in countries where digital technologies are not yet widely used but we are slowly moving away from paper and for better or worse the future of money will be virtual  Wink

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May 15, 2016, 02:32:31 PM
 #904

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
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May 15, 2016, 04:32:04 PM
 #905

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.

What you are saying is practically impossible, paper money will always show is presence in future too, as the market cap of paper money is huge and it will be the same in future.
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May 18, 2016, 02:57:10 PM
 #906

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?



t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
I do not think that paper money will disappear this quickly because some countries like in Europe have made new bills and stuff. I also think that it is going to be per country and that it will not happen all at once.


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May 18, 2016, 03:11:11 PM
 #907

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?



t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
I do not think that paper money will disappear this quickly because some countries like in Europe have made new bills and stuff. I also think that it is going to be per country and that it will not happen all at once.

Yeah every country will promote their own currency and will never support any digital currency which can take over their financial system so paper money will always alive.
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May 18, 2016, 09:09:49 PM
 #908

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.



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chaser15
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May 19, 2016, 03:37:08 AM
 #909

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.


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May 19, 2016, 03:56:50 AM
 #910

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.
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May 19, 2016, 04:18:33 AM
 #911

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.
I think there's no decreases for paper money and its increasing.. Even if there's a credit cards it can't decrease the amount of paper money because if somebody use credit card to withdraw they need to cashout a paper money.. so i think there's no decreases and banks are generating new paper money every year..

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May 19, 2016, 04:42:49 AM
 #912

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.

Fiat usage didn't decreased even with credit cards. To pay for credit card bills, a client must pay it thru fiat so still it's just the same in a different form. Also creditcard has credit to cash services where you will convert your limit to fiat. Smiley

@prodigy : thanks for the explanation


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May 19, 2016, 05:49:40 AM
 #913

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.
I think there's no decreases for paper money and its increasing.. Even if there's a credit cards it can't decrease the amount of paper money because if somebody use credit card to withdraw they need to cashout a paper money.. so i think there's no decreases and banks are generating new paper money every year..

Nice explanation the prodigy and it did cleared to me and understand it concisely.
In short explanation, there is already a sequence for the creation of paper money and it will just continue.



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HAS BEEN RELEASED!


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Rainbot
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May 19, 2016, 06:10:02 AM
 #914

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.
I think there's no decreases for paper money and its increasing.. Even if there's a credit cards it can't decrease the amount of paper money because if somebody use credit card to withdraw they need to cashout a paper money.. so i think there's no decreases and banks are generating new paper money every year..

Nice explanation the prodigy and it did cleared to me and understand it concisely.
In short explanation, there is already a sequence for the creation of paper money and it will just continue.

Sorry I didnt explained my side thoroughly. What I mean is the usage. The "dont need to bring paper money" the "card only needed when going to a supermarket" .
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May 19, 2016, 06:17:03 AM
 #915

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.
Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.
I think there's no decreases for paper money and its increasing.. Even if there's a credit cards it can't decrease the amount of paper money because if somebody use credit card to withdraw they need to cashout a paper money.. so i think there's no decreases and banks are generating new paper money every year..

Nice explanation the prodigy and it did cleared to me and understand it concisely.
In short explanation, there is already a sequence for the creation of paper money and it will just continue.

Sorry I didnt explained my side thoroughly. What I mean is the usage. The "dont need to bring paper money" the "card only needed when going to a supermarket" .

Well that would be cashless society if that happens, by just only swiping of our cards, the goods that we bought at supermarket will be paid instantly and no need to punch it all one buy one. We are also near to that scenario.



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May 19, 2016, 08:03:24 AM
 #916

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?



t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
I do not think that paper money will disappear this quickly because some countries like in Europe have made new bills and stuff. I also think that it is going to be per country and that it will not happen all at once.
Yeah it is not going to disappear this quickly because we have not seen any hints yet of this going to happen. It is also true that this is going to be different per country.
It will not happen to all countries at once, they do not all have the money to do that.
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May 19, 2016, 09:20:39 AM
 #917

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.


Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.
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May 19, 2016, 09:30:26 AM
 #918

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.


Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what?  Grin

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May 19, 2016, 10:20:55 AM
 #919

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.


Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what?  Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.
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May 19, 2016, 10:29:52 AM
 #920

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.


Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what?  Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.
Exactly, because they( labors) have no little bit knowledge about all coins currencies, most of the labors are uneducated in many countries, if we tell them but they can't use it because they can never understand to use the ways of bitcoins or the other coins. same situation with our farmers, in my country, most of the farmers are uneducated, may be a few member are educated, but they have no interest to use the bitcoins, because they don't know about internet, so in this way, paper money too much easy for that kind of the peoples.
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