The future of the paper money

[Mitchow]

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

But how many percentage of total population are using cashless form of payment, as I have seen many people who really don't want to use credit card too, they just believe in using paper money.

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[bitlancr]

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

It's more then a thread but it will be something that's here for decades. Remember so many people don't even now what online banking is.
Even in western countries. So the future for paper money is that it will be used. Not more, not less.

[iamthesky]

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

It's more then a thread but it will be something that's here for decades. Remember so many people don't even now what online banking is.
Even in western countries. So the future for paper money is that it will be used. Not more, not less.

Yes, it will be always survive, as majority of people don't want to get on online stuff, they find using paper money easy and convenient, they will never complicate their spendings by getting into crypto.

[praprata]

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

It's more then a thread but it will be something that's here for decades. Remember so many people don't even now what online banking is.
Even in western countries. So the future for paper money is that it will be used. Not more, not less.

Yes, it will be always survive, as majority of people don't want to get on online stuff, they find using paper money easy and convenient, they will never complicate their spendings by getting into crypto.

Yeah not all people are really feel safe with bitcoins. So they will use fiat money. This will continue to happen for decades to come.
So yeah paper money will be used in the near future and years to follow.

[JAyThaRevo]

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

You are definitely not seeing this from the bigger picture. Digital currency is basically a threat to the old conventional paper money, as the world is heading toward the cashless society then paper money will surely feels its effect. The world doesnt really need the old conventional paper money anymore because there are alot of cashless form of payment and someday it will be taking its toll towards paper money

It's more then a thread but it will be something that's here for decades. Remember so many people don't even now what online banking is.
Even in western countries. So the future for paper money is that it will be used. Not more, not less.

Yes, it will be always survive, as majority of people don't want to get on online stuff, they find using paper money easy and convenient, they will never complicate their spendings by getting into crypto.

Yeah not all people are really feel safe with bitcoins. So they will use fiat money. This will continue to happen for decades to come.
So yeah paper money will be used in the near future and years to follow.

Yes, and just look at the life span of bitcoin and paper money, we are using paper money since we came to this world, and bitcoin is very new at a moment, so it will take a long time to replace paper money.

[ajun96]

Paper money will ofcourse exist in the future. But you never know what can happen with the digital money and that is quite risky.
I hope that more people will also use some Bitcoin, that will be good for the future, and paper money will always used.

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

I think the paper money will not long last for the long period of time. coins and paper money will start at left. halted the use of credit or debit card or atm. or can we call digital.
bitcoin hopefully can play an important role when it happen

[ampere]

Paper money will ofcourse exist in the future. But you never know what can happen with the digital money and that is quite risky.
I hope that more people will also use some Bitcoin, that will be good for the future, and paper money will always used.

Yeah, I don't see any threat to paper money from bitcoins, as the users of paper money are in huge proportion, comparatively very few people are using bitcoins at present.

I think the paper money will not long last for the long period of time. coins and paper money will start at left. halted the use of credit or debit card or atm. or can we call digital.
bitcoin hopefully can play an important role when it happen

Are you kidding me mate? Which country you live in? And how many people are using bitcoin in your country at a moment? And please don't say me that all are using bitcoins, as it is simply impossible to think.

[Ch3wbacca]

In the next decades, i do not believe paper money will exist.

Digital money is getting bigger for a reason, and one of those primary reasons is the salvation and protection of trees indirectly as well.

Think of how much pollution we create. If paper money is converted to digital money, counterfeit will not be created and the environment will also be protected in this process.

[fredashton]

Paper money will turned into legend as we are going to the future of digital...
Everything will be digitalized in the future as we seen on the movies...

[DeDordtenaar]

Paper money will turned into legend as we are going to the future of digital...
Everything will be digitalized in the future as we seen on the movies...

agree with you. this time in major cities around the world. rarely do people use paper money. they all use the digital version (atm) or debit card.
Paper money will disappear

[sishendaoye]

Paper money will exist of course in the future. Everyone needs them and that is very important.
Many people dont even know what Bitcoin is and that is a big problem for Bitcoin. I hope later that more people will also use some Bitcoin.

[trenchflaint]

Paper money will turned into legend as we are going to the future of digital...
Everything will be digitalized in the future as we seen on the movies...

Paper money will really be a legend let says 100 years from now as everyone is moving forward to a world of computer.
By that time the world will be fast paced as when you buy something you will pay it with digital currency.

[danherbias07]

Paper money will be banned entirely?
I dont think banning it would be the best idea. If this really happens paper money could be the means of emergency money in case something happen. Remember if all we be digitally based there comes the electricity too. So how could people move without their lovable digital money.

How long do you think that happens?
Not very soon. A lot of years.

would it work?
From my own opinion it is still a no. There are still many risk that should be taken to consideration.


What security and privacy risks would it raise?
Security will be hard here. It is really risky. Just one sample are the credit cards. They are physically used but they can be hacked. Unlike paper of course there is no hacking there.
 
And how would public and privately issued monies interact?
Hmmm.  That would be a big blast. Everything might change in the form of a digitally based money. I cant even imagine it that largely yet. How would you say how much oil per barrel is. Erghhh tried it and it doesnt sound good yet.

[erwin45hacked]

Yeah not all people are really feel safe with bitcoins. So they will use fiat money. This will continue to happen for decades to come.
So yeah paper money will be used in the near future and years to follow.

If people want to survive then they have to adapt. In the future, especially with all these illegal loggings all over the world and cutting trees to build factory , I dont think that it is still wise to use paper as money when there are more convenience tools for payment. Goverment will act and cut off paper money in the near future when the earth is suffering without any trees

[relq]

I think in the next 50 or 100 years the paper money will dead. and the new era of new money is beginning. But we don't know what kind of money is that. maybe online money. so people will start bringing card not wallet.

[Hirose UK]

there's no way paper money will be banned because there are still many illiterate people out there.

maybe digital currency's age only 17-20 years left I think.

[Zaun]

In the future all our paper money will be changed to digital money if you ask me, everything is gonna be digital these days.
Its just a matter of time before the paper money will disappear for good.

[goinmerry]

there's no way paper money will be banned because there are still many illiterate people out there.

maybe digital currency's age only 17-20 years left I think.

And that is one more good reason why paper money cannot be replaced. Too many want it to be easier. The easier the better the faster the transaction will be. Once paper money got problem just replace it with another one.

[justspare]

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 don't think that paper money is ever going to be banned. Bitcoin probably won't be here forever and we still need to pay for things.

[locho16]

As an economics professor and economic expert here at About.com, I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare - for some, they already are! At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money. But even this scenario is difficult to picture, in part because of how we have historically placed a value on paper money.