The future of the paper money

[Natalim]

Paper money will long exist. This is not just a means to pay for goods or services. It is a habit and an indicator of prestige

I think true of paper money not only to pay for an item, although in the future will all be completely online or digital, but the currency symbol will definitely be in the form of paper money

I think we will not catch this future where all financial transactions would be provided online. I believe that it's our future and the future of paper money to be shown in a museum, but not so soon.

although the actual current now online transactions are preferred. using a credit car  or other online currency, is now more attractive, you can see people when buying goods in the mall. most of them use a debit card or credit card it is a sign of the beginning

It's for our convenient, but you are only looking in one portion of this world. Most of the users of credit and debit cards are only those who have a decent income and they can afford to live a comfortable life. However on the other side of this world, poverty is still a very big problem and this people has no opportunity to use this facilities as all they know is to use paper money to buy their needs since it's very simple.

[danherbias07]

The thing is we dont have the power to force bitcoin to be a new currency. Also, why change now when everyone got used to fiat and I think it is doing great. We all want something new but that might hurt the economy on the long run.

[Hammerschmidt]

Other than that, no digital currency (Bitcoin or whatever) is backed up by the mining difficulty. It is equal to saying that Bitcoin (for example) is backed up by miners' cost of mining. This is as alluring an approach as it is misleading. Value of anything is backed up by its usefulness alone (otherwise known as utility), and if Bitcoin loses its utility (whatever it might be, speculative or transactional), mining costs will quickly become irrelevant (and ironically, mining difficulty will decrease soon thereafter)

I think this deserves additional thought. If you could purchase a mining rig for $10 that could crank out 1 BTC/day, would it not be safe to say the value of bitcoin would be lower than today? I think this is the case.

Let's now approximate what it would cost to buy such a set of ASIC systems today. Maybe $75,000? $100,000? More?

And if that's the case, would I be foolish to sell the BTC it produces for less than $100,000/that number of bitcoins? That would be below my break even point once you factor in electricity costs.

I think there's no escaping the fact that miners control the supply, and therefore have a very big say in what we pay for BTC.

[andron8383]

Paper money is only limited by earth's supply of trees

***

I guess if FED and ECB will continue printing at this rate in 2 decades we will have no trees to cover it with paper money.
Adding digital 0 i always something and cost them 0 to borrow it into existence.
So suture of paper is digital paper but with unlimited printing possibility at some point it will be so much that we would not imagine it in real life example .

[ophyrim]

The paper money will disappear on some point, I'm pretty sure of it because the fact is that paper money is not the future anymore.
The world is getting more digital by day so this is why its all gonna change.

i doubt that paper money will go completely extinct because some people will still want to use it and decide not to go with bitcoins

though i think that popularity of it will decrease significantly as people will start using it less and less because of adopting bitcoin

I think you are right my friend.  In my opinion, the paper money will exist in the near future. Apart from bitcoin, there are so many people who don't use even a credit card. For some people, it is not easy to adapt the novelty or the innovation. Especially, as you can estimate "old people".

[rchstr]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

[diegz]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

Well that's right, we will conserve our resources if we won't be using them in the future. However, I don't think that those who produce money will stop producing them. As long as there is a demand from the government, they will always produce fiat. It will never end, it is a business. Though digital money's era is inevitable, still, fiat will exist and just probably will be reduced.

[TastyChillySauce00]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

That's not going to happen if the technologies of digital currency still have a hole and really vulnerable to cyber attack. I myself honestly would consider using the safest option even if it's traditional method or whatsoever. And I guess I'm not the one who thinks that way.
But the development of technology always growing up, just expecting the security at its finest when it comes to the future digital currencies

[Gameroid]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

[hawkins]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

although this time the world started moving online currency, but I believe that Fiat will still be used, even paper money. I think you also feel that the use of paper money is the best way of using money as a means of transaction. besides, paper money provides so many benefits, and the use is simple.

[Arvydas77]

I see things a little bit different. I think that paper money will stay with as for 20-30 years. The problem is not a paper money as technology will blow it. The problem is that governements have full control over money. So, I expect in the future that communities of people, businesses and cities can use their private money not controlled by government. Only this could stop deflation and everyday loss of value. If you will look at history books, you'll see that history of money is full of defrauds and losses made by governments over their own people. 

[Wandering Soul~]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

although this time the world started moving online currency, but I believe that Fiat will still be used, even paper money. I think you also feel that the use of paper money is the best way of using money as a means of transaction. besides, paper money provides so many benefits, and the use is simple.

Yeah but before online currency to happen . All countries must be internet covered first unless we find a way to do a transaction offline . Humanity needs to advance its technology more further for that to happen . I don't think 50 years is enough for this cause many countries stills have other problems that they must prioritize first like poverty, environment problems etc. Maybe more than a hundred years either way no one knows the exact date but we all hope that we are still alive when that happens .

[Babayega31]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

I don't agree with your statement future of paper money will end because if you let whole world adopt bitcoin in all money transactions that would be costly to government implementation due to computer installation of public places, and even local markets like selling at wet markets goods they will be adopting computers which is not a practical one. Paper money will still be popular in the future because it can an optional way particularly with local businesses that doesn't needed to transact payments using PC via online web.

[South Park]

should I say that both are not safe for the possibility of any crimes can be committed regardless on how you are tight in securing yourself with it.

Let's just use both for whatever good purpose that we can. Because it depends on the individual users on they are convenient with it.

And I'm convenient on using them both and I can adopt whether the future of paper money will be obsolete or will remain.

Using bitcoin might seem safer because you are hidden from any control by banks or governments and it is a good thing because hackers can’t get to you and steal your bank account but it is also a bad thing.

Using bitcoin made the life of drug dealers and hackers a much easier way to sell their illegal services on the internet without being tracked down, but as you said it depends on how the user uses either bitcoin or paper money. 

Just like what I had said, that both are not safe whether it is paper money or bitcoin because it can be both used with filthy crimes.

But I do understand that paper money will remain as it is the one that is being supported by the government and they total control for it.

Unlike with bitcoin, they don't have.

Even governments don't have full control over paper money, since there is counterfeiting and tracking the use of cash is really difficult unlike credit cards or online payments that is why criminals use mostly cash for their transactions.

[EdenHazard]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

the financial world moving to digital online system doesn't mean a traditional financial system like fiat/paper money will disappeared instantly. there is a lot of things should be done before this really happened .

for example , paper money will not disappear as long as there is no strong competitor exist, bitcoin for now still a weak competitor.

[Viscore]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

the financial world moving to digital online system doesn't mean a traditional financial system like fiat/paper money will disappeared instantly. there is a lot of things should be done before this really happened .

for example , paper money will not disappear as long as there is no strong competitor exist, bitcoin for now still a weak competitor.

The government will make sure that people will benefit, while they are making a study on the digital currencies they found it's convenience and comfort to the users. However, they will have to consider that majority of the people in this world are not still in digital world, so they have to serve the majority as well and will let the paper money be still in the circulation.

[Factmine]

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

yes the world is moving toward online currency, as the new generation is giving preference to online shopping and trading which is reducing the use of paper money, but i think it will still take a lot of time, may be more than 50 years so that fiat is totally replace by fiat currency.

the financial world moving to digital online system doesn't mean a traditional financial system like fiat/paper money will disappeared instantly. there is a lot of things should be done before this really happened .

for example , paper money will not disappear as long as there is no strong competitor exist, bitcoin for now still a weak competitor.

The government will make sure that people will benefit, while they are making a study on the digital currencies they found it's convenience and comfort to the users. However, they will have to consider that majority of the people in this world are not still in digital world, so they have to serve the majority as well and will let the paper money be still in the circulation.

It will take a long time before this happens as change is not easily adopted. Especially when it concerns money. People would for sure be skeptical in adopting this kind of change. There would be fears that it might get hacked and their hard earned money will disappear. This is the same fear that was brought about by the collapse of Mt. Gox that sent bitcoins back to sub $200 levels.

[loreykyutt05]

The future of our money, I think, it will dissolve. As we can see, bitcoins and other form of virtual money invented fast and fast. We can consider now that our paper money will be obsolete and we will having a new technology for our next generations of new technology.

[Dr.Osh]

The future of our money, I think, it will dissolve. As we can see, bitcoins and other form of virtual money invented fast and fast. We can consider now that our paper money will be obsolete and we will having a new technology for our next generations of new technology.

Well, the technology is growing, even it develops very quickly from year to year. it could lead to displacement of the use of paper money, into digital money. Well, if people start to take notice of the online transaction, bitcoin will be the first choice for it.

[philggg]

paper money is very important aspect of currencies that is use for exchange, the developed economy in Europe,America, Asia with time will reduce the spending of paper money because  e currency is taking the place of paper money.e currency is  convenient to store in a safe place for future use which is useful for our population, in developing economy paper money is very relevant because of the level of education.