The future of the paper money

[socks435]

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

How can you claim that the money deposited in the banks is safe just because the system is centralized? What will happen if the bank declares itself bankrupt? Or what will happen if the government seize your savings?

government do not have any right to seize your saving without any solid reason. as we can see that when a band become bankrupt then the government try to recover the lost of the people and there are very little chances of that banks will become bankrupt therefore keeping money in banks is really not so much risky.

Why banks will bankrupt i think its not. banks are controlled by government and money made by banks that controlled by government..
Banks is still the best place to save a large amount of our money, because its more safe than bitcoin..

[CyberKuro]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

[carlerha]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

yes that is right to say bitcoin is easy to transfer it do not need to transfer in to local currency if  you are buying some thing in another country as bitcoin is a universal currency and it has the same price every where in the world.

[Aamir1]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

We should see the progress of the world and we will come to know that a system like paper money would probably not stay forever now, every single thing is getting digital then why not money? It will get digital too for sure but it is not important that the digital thing should be bitcoin, governments may make their own digital systems.

[goldcoinminer]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

yes that is right to say bitcoin is easy to transfer it do not need to transfer in to local currency if  you are buying some thing in another country as bitcoin is a universal currency and it has the same price every where in the world.

That's why it's called universal currency because it has the same value in the world and because of bitcoin we are united as one. And the world is supporting bitcoin as we are the world compose of different supporters from every country.

[gabmen]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

yes that is right to say bitcoin is easy to transfer it do not need to transfer in to local currency if  you are buying some thing in another country as bitcoin is a universal currency and it has the same price every where in the world.

That's why it's called universal currency because it has the same value in the world and because of bitcoin we are united as one. And the world is supporting bitcoin as we are the world compose of different supporters from every country.

Well that can be agreeable though. It easy to send and receive btcs from other parts of the world with less fees. And i think more and more people are already realizing that as bitcoin's price keeps on going up.

[carlerha]

the existence of paper money in the future will begin to decline and be replaced by digital money  . payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period.

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

yes that is right to say bitcoin is easy to transfer it do not need to transfer in to local currency if  you are buying some thing in another country as bitcoin is a universal currency and it has the same price every where in the world.

That's why it's called universal currency because it has the same value in the world and because of bitcoin we are united as one. And the world is supporting bitcoin as we are the world compose of different supporters from every country.

Well that can be agreeable though. It easy to send and receive btcs from other parts of the world with less fees. And i think more and more people are already realizing that as bitcoin's price keeps on going up.

the transaction fee is really know because there is no tax on bitcoin and when the governments will accept bitcoin and when they will put tax on it, then it will become more costly and then bitcoin will also lose its anonymity stats, and will no longer remain as anonymous any more.

[deisik]

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

It is false security. Indeed, in some countries bank deposits are insured (at least, up to a certain amount), but even if all countries provided a sort of insurance for bank deposits, that still wouldn't prevent inflation from slowly but surely eating away the value of money held on deposits. Further, many developing countries are known for sudden devaluations of their currencies when the currency loses half or even more of its purchasing power overnight...

Bitcoin is risky, but even hard assets such as gold are not completely risk free

For each country banks are covered by the law which will help the customers,investors of that bankrupted bank. That is what you call an insurance. So even the bank will be bankrupt still there is an alloted money for those people who the bank owed money. So you don't have to worry about it, you just need to browse the banking secrecy law and everything about it.

Tell that to the victims of the Cyprus hair-cut

[danherbias07]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

[Sithara007]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

99.99% of the people are still using paper money, and the situation will remain the same for the next several decades. 10% to 20% may be using cards, but these people also use paper money as well for their daily needs. Right now, the battle is between paper money and plastic money, and not between paper money and digital money.

[Dhimas Kanjeng]

I sure not more 100 years again paper money will be disappear. And cryptocurrency will make it faster.

[Babayega31]

I sure not more 100 years again paper money will be disappear. And cryptocurrency will make it faster.

Paper money in the future? I think it would be still a paper money, even though we are now facing modern digital currency as our alternative for monetary currency it doesn't change the fact that this cashable money which is a paper money could never be terminated of its use. People without proper knowledge of modern computers are those who will particularly using the cash type of money they dont use digital currency because its an internet based transactions and it takes a long process or implementation if digital currency is adapted to sellers like in the vege market and several departments stores.

[raven7886]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

99.99% of the people are still using paper money, and the situation will remain the same for the next several decades. 10% to 20% may be using cards, but these people also use paper money as well for their daily needs. Right now, the battle is between paper money and plastic money, and not between paper money and digital money.

The number is decreasing day by day and in my country, we have 10-15% people using mainly digital money like online wallets, online banking and debit/credit cards.

People who don't know anything about the internet have to rely on paper money but it's always secure to carry paper money in addition to plastic money. There is no such battle currently as many shops don't even use these machines as a payment mode. They are considering it which is a good thing.

[crairezx20]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

99.99% of the people are still using paper money, and the situation will remain the same for the next several decades. 10% to 20% may be using cards, but these people also use paper money as well for their daily needs. Right now, the battle is between paper money and plastic money, and not between paper money and digital money.

The number is decreasing day by day and in my country, we have 10-15% people using mainly digital money like online wallets, online banking and debit/credit cards.

People who don't know anything about the internet have to rely on paper money but it's always secure to carry paper money in addition to plastic money. There is no such battle currently as many shops don't even use these machines as a payment mode. They are considering it which is a good thing.

I think here in my country in my own speculation according to what i seen in the mall maybe 5% to 8% of people who are using atm and maximum of 10% for online payment they are using online bankings .. they are late in technology but they are gradually increases.. and i hope more adoption and more people that can know about the advantages of digital currency..  as alternative payment methods  that we can also use locally in the future..

[mastica]

The new generation almost all had a phone with internet at it, we do use for a long time those equipements, i dont know how long it will take but i believe the current printed money wont last more then 70 years from now, if they keep it the way it is would be insane.

[freedomgo]

I think here in my country in my own speculation according to what i seen in the mall maybe 5% to 8% of people who are using atm and maximum of 10% for online payment they are using online bankings .. they are late in technology but they are gradually increases.. and i hope more adoption and more people that can know about the advantages of digital currency..  as alternative payment methods  that we can also use locally in the future..

Too bad most of the people in the less developing world are in poverty. With that reality, we cannot push bitcoin to them.

The new generation almost all had a phone with internet at it, we do use for a long time those equipements, i dont know how long it will take but i believe the current printed money wont last more then 70 years from now, if they keep it the way it is would be insane.

Wow! you really sure? I don't bite your speculation. Paper money will be forever..

[bryant.coleman]

The new generation almost all had a phone with internet at it, we do use for a long time those equipements, i dont know how long it will take but i believe the current printed money wont last more then 70 years from now, if they keep it the way it is would be insane.

ROFLMAO.... 70 years is a long time.... I don't know whether humanity will survive for that long. With global warming and the possibility of a World War III, we may destroy our planet much earlier than that date. Still... fiat currency has existed for more than two thousand years... My guess is that it will survive as long as the humanity exists.

[X-ray]

The new generation almost all had a phone with internet at it, we do use for a long time those equipements, i dont know how long it will take but i believe the current printed money wont last more then 70 years from now, if they keep it the way it is would be insane.

ROFLMAO.... 70 years is a long time.... I don't know whether humanity will survive for that long. With global warming and the possibility of a World War III, we may destroy our planet much earlier than that date. Still... fiat currency has existed for more than two thousand years... My guess is that it will survive as long as the humanity exists.

there's indeed a possibility for World War III to be exist in the future,but there's no sign of it to be actually happen,as you know america which is going to be lead by Trump is now making such a good relationship with Russia due to vladimir putin congratulating trump for being elected to become the number 1 person in united states,but i believe in 70 years humanity will still survive,many people are now developing such a eco friendly thing which could keep the earth from destruction or getting doomed

[markyminer]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

99.99% of the people are still using paper money, and the situation will remain the same for the next several decades. 10% to 20% may be using cards, but these people also use paper money as well for their daily needs. Right now, the battle is between paper money and plastic money, and not between paper money and digital money.

The number is decreasing day by day and in my country, we have 10-15% people using mainly digital money like online wallets, online banking and debit/credit cards.

People who don't know anything about the internet have to rely on paper money but it's always secure to carry paper money in addition to plastic money. There is no such battle currently as many shops don't even use these machines as a payment mode. They are considering it which is a good thing.

i think those people who have access to bitcoin are also depending on fiat, still most of the people are using bitcoin for investment purposes, as there are very limited facilities of using bitcoin in more of the areas. as in my country there is a single shop who is accepting bitcoins for limited items.

[ardentvolcanoes]

Dont go just looking here. There is much to be seen outside and a lot is happening. Many people are still leaning on paper money and thats it. No more option or whatever it is, either a Us dollar or a Euro.

99.99% of the people are still using paper money, and the situation will remain the same for the next several decades. 10% to 20% may be using cards, but these people also use paper money as well for their daily needs. Right now, the battle is between paper money and plastic money, and not between paper money and digital money.

The number is decreasing day by day and in my country, we have 10-15% people using mainly digital money like online wallets, online banking and debit/credit cards.

People who don't know anything about the internet have to rely on paper money but it's always secure to carry paper money in addition to plastic money. There is no such battle currently as many shops don't even use these machines as a payment mode. They are considering it which is a good thing.

I think here in my country in my own speculation according to what i seen in the mall maybe 5% to 8% of people who are using atm and maximum of 10% for online payment they are using online bankings .. they are late in technology but they are gradually increases.. and i hope more adoption and more people that can know about the advantages of digital currency..  as alternative payment methods  that we can also use locally in the future..

and as we can see, Using a digital currency has a big advantage since we can make transaction already whenever we are in different countries that also uses and accepts bitcoin as another method of payment and because of that it would give us less hassle when it comes to payment and we never have to worry if ever we don't have enough cash in the future.