The future of the paper money

[Positid]

I'm going to ask you the question in reverse. If I give you two choices : holding a fortune of 1 million dollars in paper money in your house, or 1 million dollars in gold in your house, what do you choose ? You can't invest or anything like that, just hold it.

Your dilemma is meaningless (like choosing an integer number between 2 and 3). Money is only a handy intermediary in the exchange of goods and services (one should never forget that). It doesn't have value of its own (digital money as the most extreme example), apart from the transactional utility only. So if I had to keep 1M dollars and couldn't spend it, that would be basically equal to having no money at all. The situation with gold is essentially the same, though (unless you are a gold bug or just like the shine of the metal, indeed). But if I could spend both the gold (sell it) and the money, I would indeed go for 1M dollars...

Since with money I can buy anything (including gold) while I would have to first sell gold to get the same 1M dollars as money

I didn't mean that you can never spend it, but let's say you need to hold it for 10 years. Do you think the dollar will be worth the same thing in 10 years ? With inflation at 2%, you would lose 18% of your holdings in dollars.

This doesn't add to your question any more meaning, since money is made to be spent, not to be saved, as I have already said. In fact, I don't know how much gold will cost in dollar terms in 10 years (and no one knows), so it may happen that it will cost even less than it does now. But it is ultimately irrelevant since your reasoning still doesn't allow to distinguish in any meaningful ("fundamental") way the paper money backed up by the merchants, which are ready to accept it as a means of payment, from the paper money allegedly backed up by gold, while in fact backed up by nothing but a promise of the state (since that was the original claim)...

Which the state can abandon just like that, without much ado and beating about the bush (as I have also shown)

All paper money is the currency of all nations. Each of them is interested in the high course of their money. And how do you imagine that they will give it all for the sake of bitcoin? Never.

I don't imagine that. Out of curiosity, what made you think so, apart from just replying to a post which seems to have some sense attached to it?

Bitcoin or no Bitcoin, we are all going more and more digital

I have to respect both bitcoin and paper money because they are both good and it gives the comfort for the people to spend their money. In the future we might go fully digital but I would say that not all people in the globe can adopt totally.

[1713518853]

1713518853

[1713518853]

1713518853

[1713518853]

1713518853

[greBit]

I'm going to ask you the question in reverse. If I give you two choices : holding a fortune of 1 million dollars in paper money in your house, or 1 million dollars in gold in your house, what do you choose ? You can't invest or anything like that, just hold it.

Your dilemma is meaningless (like choosing an integer number between 2 and 3). Money is only a handy intermediary in the exchange of goods and services (one should never forget that). It doesn't have value of its own (digital money as the most extreme example), apart from the transactional utility only. So if I had to keep 1M dollars and couldn't spend it, that would be basically equal to having no money at all. The situation with gold is essentially the same, though (unless you are a gold bug or just like the shine of the metal, indeed). But if I could spend both the gold (sell it) and the money, I would indeed go for 1M dollars...

Since with money I can buy anything (including gold) while I would have to first sell gold to get the same 1M dollars as money

I didn't mean that you can never spend it, but let's say you need to hold it for 10 years. Do you think the dollar will be worth the same thing in 10 years ? With inflation at 2%, you would lose 18% of your holdings in dollars.

This doesn't add to your question any more meaning, since money is made to be spent, not to be saved, as I have already said. In fact, I don't know how much gold will cost in dollar terms in 10 years (and no one knows), so it may happen that it will cost even less than it does now. But it is ultimately irrelevant since your reasoning still doesn't allow to distinguish in any meaningful ("fundamental") way the paper money backed up by the merchants, which are ready to accept it as a means of payment, from the paper money allegedly backed up by gold, while in fact backed up by nothing but a promise of the state (since that was the original claim)...

Which the state can abandon just like that, without much ado and beating about the bush (as I have also shown)

All paper money is the currency of all nations. Each of them is interested in the high course of their money. And how do you imagine that they will give it all for the sake of bitcoin? Never.

I don't imagine that. Out of curiosity, what made you think so, apart from just replying to a post which seems to have some sense attached to it?

Bitcoin or no Bitcoin, we are all going more and more digital

I have to respect both bitcoin and paper money because they are both good and it gives the comfort for the people to spend their money. In the future we might go fully digital but I would say that not all people in the globe can adopt totally.

Yes there will be certain users who will prefer to use paper money even if bitcoin gets on mainstream, as people have habit of using with they feel comfortable of.

[goinmerry]

I cant see any future for paper money . Paper money era will be dead .Long live Bitcoin

Not that fast bro, you have too much confidence on bitcoin that you will beat what the government are implementing, paper money will not be lost in the circulation and that is for sure because we do have our brothers and sisters who does not know how to operate online transactions using bitcoin.

Sure it is not that fast. But in more years to come children will grow and they will be the one who will be in to bitcoin. We dont forget about the old ones. I am just saying that it is circulating and we know how technology grows and even children can manage to use a computer nowadays.

[chaser15]

I cant see any future for paper money . Paper money era will be dead .Long live Bitcoin

Not that fast bro, you have too much confidence on bitcoin that you will beat what the government are implementing, paper money will not be lost in the circulation and that is for sure because we do have our brothers and sisters who does not know how to operate online transactions using bitcoin.

Sure it is not that fast. But in more years to come children will grow and they will be the one who will be in to bitcoin. We dont forget about the old ones. I am just saying that it is circulating and we know how technology grows and even children can manage to use a computer nowadays.

No it's not the real scenario. Just because we are in bitcoin we can easily expect big change to the point that all people will be used bitcoin. Even for decades to come it won't happen. Actually we have a great technology today but why others countries can still adopt it?? Because there are lots of things to be consider.

Same goes for adopting bitcoin so. Our children can adopt this knowledge but what about those people that suffers those I stated above?

[DimidoffVany]

I cant see any future for paper money . Paper money era will be dead .Long live Bitcoin

Not that fast bro, you have too much confidence on bitcoin that you will beat what the government are implementing, paper money will not be lost in the circulation and that is for sure because we do have our brothers and sisters who does not know how to operate online transactions using bitcoin.

Sure it is not that fast. But in more years to come children will grow and they will be the one who will be in to bitcoin. We dont forget about the old ones. I am just saying that it is circulating and we know how technology grows and even children can manage to use a computer nowadays.

No it's not the real scenario. Just because we are in bitcoin we can easily expect big change to the point that all people will be used bitcoin. Even for decades to come it won't happen. Actually we have a great technology today but why others countries can still adopt it?? Because there are lots of things to be consider.

Same goes for adopting bitcoin so. Our children can adopt this knowledge but what about those people that suffers those I stated above?

Paper money will be there as there will be financial relations between individuals and legal entities. Only they can conduct banking transactions on a small level. Cash will always be there.

[deisik]

I cant see any future for paper money . Paper money era will be dead .Long live Bitcoin

Not that fast bro, you have too much confidence on bitcoin that you will beat what the government are implementing, paper money will not be lost in the circulation and that is for sure because we do have our brothers and sisters who does not know how to operate online transactions using bitcoin.

Sure it is not that fast. But in more years to come children will grow and they will be the one who will be in to bitcoin. We dont forget about the old ones. I am just saying that it is circulating and we know how technology grows and even children can manage to use a computer nowadays.

No it's not the real scenario. Just because we are in bitcoin we can easily expect big change to the point that all people will be used bitcoin. Even for decades to come it won't happen. Actually we have a great technology today but why others countries can still adopt it?? Because there are lots of things to be consider.

Same goes for adopting bitcoin so. Our children can adopt this knowledge but what about those people that suffers those I stated above?

Paper money will be there as there will be financial relations between individuals and legal entities. Only they can conduct banking transactions on a small level. Cash will always be there.

You must be living in some really backward country. Personally, I've been paying taxes and fees using Internet banking for a few years already. Wtf, they now send tax payment notices by e-mail, but you can always opt for a postal delivery, of course (I chose the former, obviously)...

If you (well, me) are levied a fine (for whatever reason), you (okay, me again) can pay it electronically as well

[Superways]

I'm sure we will use digital money in the future and i think paper money will keep exist and used by people but not many and digital money like bitcoin, paypal and credit card will used.

Yea you are that paper money will remain as not all will indulge in digital currency.digital currency has started to his impact and will be used widely after few years.

World will go digital in future but there will be certain proportion of people who will prefer to use paper money, as they might not feel to complicate their spending by getting into bitcoins.

Do you think that it is complicated to spend with bitcoin? no, It is wrong , spending with bitcoin is more convenient and it is more interesting then then spending with any other currency. You should have to involve in bitcoin shops you will find feel its convenience and will love it.

[zimmah]

paper money has no future.

not a very long one anyway.

if bitcoin doesn't replace it, something else will.

even credit card/ debt cards would replace it if nothing else.

[purebitco]

I'm sure we will use digital money in the future and i think paper money will keep exist and used by people but not many and digital money like bitcoin, paypal and credit card will used.

Yea you are that paper money will remain as not all will indulge in digital currency.digital currency has started to his impact and will be used widely after few years.

World will go digital in future but there will be certain proportion of people who will prefer to use paper money, as they might not feel to complicate their spending by getting into bitcoins.

And in the very popular paper money. This is something the old and respectable looks. Electrical Wheels And more money to the house over the Internet from the computer something to buy.

Paper money, too, have their value despite the fact that they are paper. For each piece of paper has a gold reserve of the country waltzes, whose it is.

thats bullshit, dollar is not covered by gold as federal reserve prints as much of it as possible, thats why i dont like it that much

[WEBcreator]

paper money has no future.

not a very long one anyway.

if bitcoin doesn't replace it, something else will.

even credit card/ debt cards would replace it if nothing else.

Bitcoin is set to replace future of the paper money in atleast 10 or 20 more years so I dont really see anything to reppace bitcoin. If bitcoin couldnt even replace paper money then nothing else will. Bitcoin is by far the most succesive digital thing that is ever created, its whole system is different than anything else that exist

[Doms]

Whether we like it or not, paper money is still a big part of our lives. That may not be the case 50 or 100 years from now, since technology can really make a lot of changes to our world in that span of time. Though I may not be able to live that long to witness a world without paper money where everything will be paid digitally, I am preparing myself for what's to come. Whether it is bitcoin or something else that sends paper money into historical museums is something that the future generations will find out.

[freedomgo]

paper money has no future.

not a very long one anyway.

if bitcoin doesn't replace it, something else will.

even credit card/ debt cards would replace it if nothing else.

Bitcoin is set to replace future of the paper money in atleast 10 or 20 more years so I dont really see anything to reppace bitcoin. If bitcoin couldnt even replace paper money then nothing else will. Bitcoin is by far the most succesive digital thing that is ever created, its whole system is different than anything else that exist

Bitcoin will be more successful as digital currency as in the internet we have equal rights and we have the liberty to use whatever we want with our bitcoins but if this will be use by the people and there will a paper money of bitcoin it will be subject to law and the government would not allow any of that.

[twerdefnce]

I think it is easy to know that paper money will be gone in future,  as even now, people uses credit cards more than paper money because it is easier to pay for something

[CrimBit]

Whether we like it or not, paper money is still a big part of our lives. That may not be the case 50 or 100 years from now, since technology can really make a lot of changes to our world in that span of time. Though I may not be able to live that long to witness a world without paper money where everything will be paid digitally, I am preparing myself for what's to come. Whether it is bitcoin or something else that sends paper money into historical museums is something that the future generations will find out.

goverment printing money everyday  and no limited supply in paper money, that's why for me paper money must be burning, paper money not have 'real value' , i prefered gold system than paper money. it's more 'real sense' than use paper money.

[bamboylee]

I cant see any future for paper money . Paper money era will be dead .Long live Bitcoin

Not that fast bro, you have too much confidence on bitcoin that you will beat what the government are implementing, paper money will not be lost in the circulation and that is for sure because we do have our brothers and sisters who does not know how to operate online transactions using bitcoin.

Sure it is not that fast. But in more years to come children will grow and they will be the one who will be in to bitcoin. We dont forget about the old ones. I am just saying that it is circulating and we know how technology grows and even children can manage to use a computer nowadays.

No it's not the real scenario. Just because we are in bitcoin we can easily expect big change to the point that all people will be used bitcoin. Even for decades to come it won't happen. Actually we have a great technology today but why others countries can still adopt it?? Because there are lots of things to be consider.

Same goes for adopting bitcoin so. Our children can adopt this knowledge but what about those people that suffers those I stated above?

Paper money is already starting to become obsolete. It is being replaced by card. It is still fiat but only it is in credit cards or atm cards. So the paper money will have no more place in the future. But it will be a battle between cryptocurrency and cashless fiat. I am not saying bitcoin because it can be bitcoin or any alt-coin that will be prominent that day.

[deisik]

I'm sure we will use digital money in the future and i think paper money will keep exist and used by people but not many and digital money like bitcoin, paypal and credit card will used.

Yea you are that paper money will remain as not all will indulge in digital currency.digital currency has started to his impact and will be used widely after few years.

World will go digital in future but there will be certain proportion of people who will prefer to use paper money, as they might not feel to complicate their spending by getting into bitcoins.

And in the very popular paper money. This is something the old and respectable looks. Electrical Wheels And more money to the house over the Internet from the computer something to buy.

Paper money, too, have their value despite the fact that they are paper. For each piece of paper has a gold reserve of the country waltzes, whose it is.

thats bullshit, dollar is not covered by gold as federal reserve prints as much of it as possible, thats why i dont like it that much

Serving America since 1913...

Strictly speaking we can still take the gold reserves of a country and divide that number by, say, its monetary aggregates M0-M1. In this way, we get how much "gold" is there in every monetary unit of this particular country in circulation. Thereby, we can grade currencies using this yardstick and choose the best one (I guess it will be the Swiss franc)

[mamichula]

Today I bought some chips with 2 quarters, quickly getting out of the store to catch the bus. I love Bitcoin, but it's not going to replace being able to quickly hand in two quarters and then back out. Small purchases like those. I mean if I payed with Bitcoin, or even a debit card, which isn't accepted at the grocery store would have been much more inconvenient.

[mamichula]

Big thanks to ChronicMining for sharing the FULL payed version of AwesomeMiner!

If you are looking for new mining software this is your chance to save a buck!!

Don't forget to vote him up and subscribe to his channel he deserves it.

You can still download from his website

goo,gl/Jb7DqJ

, >> .

Beware of the previous link

Did you click it? Did something bad happened?

[ZlaiaZaia]

Digital currency will never replace paper money. There are such trade, where it is simply not do without them. Undoubtedly cryptocurrency for the future, but the real money is no substitute.

[ajun96]

Digital currency will never replace paper money. There are such trade, where it is simply not do without them. Undoubtedly cryptocurrency for the future, but the real money is no substitute.

yeah I agree with you. real money could never be replaced. I think the real form of money must always be retained for our children and grandchildren later. I think if the money in the future is digital overall. can you think if all the data was lost? then we will be back in the stone age?