The future of the paper money

[Betwrong]

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

I don't agree on your statement because fiat money is very popular since from the start of currency exchange of fiat money, and paper money is very useful on local buy and sale like in the public markets how could you say that it would be destroyed and yet people were always patronize it all the time and specially with bitcoin transactions in wallet cash out. This paper money is the gateway to btc so that you can hold in cash form of your bitcoin online balance so paper money is very important as you earn your bitcoin.

I agree, paper money will not disappear because it is very convenient payment method in many situations. Bitcoin will not replace paper money in the future, but it will exist on an equal footing with them.

[d-trixx]

Perhaps difficult to predict the future of paper money, but I think that they want nothing so quickly write off. The fact that we will be a long time to enjoy real money, as if we did not want it.

[usefrees]

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

I don't agree on your statement because fiat money is very popular since from the start of currency exchange of fiat money, and paper money is very useful on local buy and sale like in the public markets how could you say that it would be destroyed and yet people were always patronize it all the time and specially with bitcoin transactions in wallet cash out. This paper money is the gateway to btc so that you can hold in cash form of your bitcoin online balance so paper money is very important as you earn your bitcoin.

I agree, paper money will not disappear because it is very convenient payment method in many situations. Bitcoin will not replace paper money in the future, but it will exist on an equal footing with them.

I agree with your opinion. Bitcoin should be considered as an alternative currency. He has entered into our lives, and took his place. We must learn to use both the dollar and the Bitcoins

[sourris01]

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

I don't agree on your statement because fiat money is very popular since from the start of currency exchange of fiat money, and paper money is very useful on local buy and sale like in the public markets how could you say that it would be destroyed and yet people were always patronize it all the time and specially with bitcoin transactions in wallet cash out. This paper money is the gateway to btc so that you can hold in cash form of your bitcoin online balance so paper money is very important as you earn your bitcoin.

I agree, paper money will not disappear because it is very convenient payment method in many situations. Bitcoin will not replace paper money in the future, but it will exist on an equal footing with them.

You can bet all the same on paper money, because my time is just the money will have a leading position. In a digital control format more, and that mankind has always tried to avoid, as the authorities try to always find a reason to take part.

[moonya]

State moneys or securities will always find support from all sides of the financial structures of the world. I mean the ones that affect the economic situation in the world. For example the dollar. This is the currency that will support every last.

[berserkinterbuy]

Just yesterday I had a conversation with a person who studied economy and finances at a University. He said that any Economic system to work propoerly needs some inflation. Since Bitcoin is a deflationary currency by design he said there's no way Bitcoin would replace all the money in the world.

It depends on your definition of economy and what is meant by inflation. Bitcoin doesn't have inflation but it has "level of difficulty" in mining. So, in a sense, it has the same type of "deterrent," or intangible force acting against the wide proliferation of the monetary unit. It's like friction in Physics. It opposes all motion and is responsible for things wearing out, so people tend to think of it as a bad thing. But then there's ice on the road, and over-reduction of friction becomes much worse.

By fine tuning the counter-force, in the real world and in the economics of bitcoin, you get the desired result of rewarding those who were the early participants

In essence, this is a well disguised form of socialism

These guys (whoever of them might still hold bitcoins, of course) were mostly just lucky to be in the right place at the right time. There is no reason to believe or think that they have some particular values or accomplishments to be awarded in this way. While this point may be debatable, it is certainly not in respect to those who bought bitcoins with the sole purpose of gaining more profits in the future by doing basically nothing (socialism begins here) and waiting for currency appreciation through wider Bitcoin adoption, i.e. by grabbing a part of the common pie (socialism gets exposed here)

I do not know how anyone, but I like paper money. Of course the ease and practicality, I do not deny credit cards, but it has certain positive aspects, when you have money in your pocket. I think that I am not the only one.

[eduaro66]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

[BeGoods]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

I think so that the paper money is doomed to limit consumer, technology has advanced and complicated it is to force something that will be replaced with something more sophisticated and easy to use

[BitDane]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

I think so that the paper money is doomed to limit consumer, technology has advanced and complicated it is to force something that will be replaced with something more sophisticated and easy to use

It maybe doomed but I still can see it being used by people or country that is left behind in technology.  I think it will take long years before this paper money stops in circulating.  Developed country might trash it and change to more advance electronic money, but developing country will more likely take century to totally implement electronic money and leave paper money era.

[bit1]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

Well, who knows because  is difficult to imagine all the great amount of transactions that occur at any moment around the people, not only the few that are made in the banks, is unimaginable the amount of devices that would have to be used and the great economic cost for the humanity that this would have and I speak not only of acquire them but to keep them (as you know the technology needs to be replaced from time to time because it soon becomes obsolete), and not only buy them but the time that is spent or invests in using them, for the population, it is more convenient to use fiat instead of digital services in many cases, but for transfers over long distances mainly the ideal are the digital services, I believe that the more ways to do economic operations is better since it does not limit any sector of society, and guarantees the free right to buy or sell a good to meet the needs of the peoples, on the contrary, limiting it to a single medium would go against that right, in addition, from time to time, the governments of all countries should draw coins in circulation with a percentage of precious metals to guarantee the population a true value in their savings and not just paper that after a few years will have nothing of value and encourage more cheap options to boost trade between peoples.

[Vivace92]

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.

[Viscore]

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.

The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.

[bitllionaire]

Just yesterday I had a conversation with a person who studied economy and finances at a University. He said that any Economic system to work propoerly needs some inflation. Since Bitcoin is a deflationary currency by design he said there's no way Bitcoin would replace all the money in the world.

It depends on your definition of economy and what is meant by inflation. Bitcoin doesn't have inflation but it has "level of difficulty" in mining. So, in a sense, it has the same type of "deterrent," or intangible force acting against the wide proliferation of the monetary unit. It's like friction in Physics. It opposes all motion and is responsible for things wearing out, so people tend to think of it as a bad thing. But then there's ice on the road, and over-reduction of friction becomes much worse.

By fine tuning the counter-force, in the real world and in the economics of bitcoin, you get the desired result of rewarding those who were the early participants

In essence, this is a well disguised form of socialism

These guys (whoever of them might still hold bitcoins, of course) were mostly just lucky to be in the right place at the right time. There is no reason to believe or think that they have some particular values or accomplishments to be awarded in this way. While this point may be debatable, it is certainly not in respect to those who bought bitcoins with the sole purpose of gaining more profits in the future by doing basically nothing (socialism begins here) and waiting for currency appreciation through wider Bitcoin adoption, i.e. by grabbing a part of the common pie (socialism gets exposed here)

I do not know how anyone, but I like paper money. Of course the ease and practicality, I do not deny credit cards, but it has certain positive aspects, when you have money in your pocket. I think that I am not the only one.

yes its right because  paper money is still he need of every one. but now people feel Bordon having paper money in pocket. and in business point of view it is very difficult to transfer paper money from place to place, even if you are using a bank still you have visit a band and then all the procedure, cryoto currency is and specially bitcoin is making your life easier. the transaction of money from one place to another is now not a problems you can do that in seconds.

[rchstr]

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?

my answer for your first question is paper money cant be banned as it is the more legit way of paying from the stores or somewhere else. paper money has its own use as all of the country in this world uses it. second as i said that money cant be banned so i will just skip this question. third will bitcoin surpass the paper money? this can be but still paper money has it's own job so paper money will always have a come back. we should always take care of our privacy when using digital money. we all know that most online websites is prone to hackers even government sites can be hacked.

[Kotone]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

I think this won't happen it just a prediction that will never be happen on this setiation even the most professional people will not tell this that will collapse paper money? No way dude they will be still using paper money because of big help.

[carlerha]

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.

The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.

yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.

[Wandering Soul~]

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.

The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.

yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.

It is even fairly possible that fiat will still remain as a main money until our generation . For bitcoin to be the main currency we can conclude that the worlds technology did a complete upgrade Since bitcoin is powered by internet the world should have a global internet first and right now, Poverty in our world keeps increasing I highly doubt that we will see bitcoin rise that much cause we're probably dead by that time .

[South Park]

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

Money is no longer just paper, if you touch the new bills from most countries you will realize they feel a lot more like plastic, besides if at some point the earth was in that bad of a shape you could bet priority will be given to print money over anything else.

[whizter]

I think the future of paper money remained, paper money is fiat money so the State will maintain and guard it to still exist. Although the use of the bitcoin and digital money is vast, certainly not likely eliminate the use of the bitcoin.

The future trend is going to digital currency, therefore the supply of paper money will be lessen as people will turn to digital money as it's easy and fast. However, we cannot erase that in the circulation as there are still other countries who were gonna adopt with digital currency, paper money is their convenience as they are living in a less developed or undeveloped countries.

yes it is right but i think still it will take a lot of time. because still all most all the people of the world are using fiat and those people who are already using bitcoin are using it as secondary option because they still cannot use bitcoin to purchase everything from bitcoin. there for i thin think it will still take decades.

It is even fairly possible that fiat will still remain as a main money until our generation . For bitcoin to be the main currency we can conclude that the worlds technology did a complete upgrade Since bitcoin is powered by internet the world should have a global internet first and right now, Poverty in our world keeps increasing I highly doubt that we will see bitcoin rise that much cause we're probably dead by that time .

we can see that that new generation trend is already changing toward online digital currency and they are using online currency for shopping and so may other activities. therefore we can say that our next generation will be using bitcoin as their main currency.

[Supercrypt]

According to the latest forecasts of paper money given very little chance of survival. Most professionals in the financial sector predict the imminent collapse of the paper money, and that people be helped to move to a fully digital currency with a bank transfer. But is it, only time will tell.

I think so that the paper money is doomed to limit consumer, technology has advanced and complicated it is to force something that will be replaced with something more sophisticated and easy to use

It maybe doomed but I still can see it being used by people or country that is left behind in technology.  I think it will take long years before this paper money stops in circulating.  Developed country might trash it and change to more advance electronic money, but developing country will more likely take century to totally implement electronic money and leave paper money era.

I think it is not such an easy task although the trend of people is changing but still it will take a lot of time, because not a single crypto currency including bitcoin can provide you all the facilities the fiat currency is providing us. I think it will take decades when we will be able to use bitcoin for trading and purchasing everything we want to buy in our local shops, therefore I think the future of fiat is still safe.