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Author Topic: The future of the paper money  (Read 416519 times)
BeGoods
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March 04, 2017, 12:45:06 PM
 #3021

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.
true, slowly paper money will begin to be replaced by digital money, the more years the use of paper money in the market on the wane because nowadays people prefer to shop online or use a credit card
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March 04, 2017, 01:17:28 PM
 #3022

I am sure slowly paper money will be lost and replaced with digital money. currently many countries are trying to implement a digital money and they've got the targets to immediately replace the paper money.
I agree with you, the use of paper money is not very good because of the value that is always down, need to change money, dirty and many other reasons. I'm sure will come a time when paper money is no longer in use and replaced with a new, bitcoin has a great possibility to replace paper money.
how can you say that. i think the use of the paper money is still too good and too strong. i think more that 99.9% people are depending on fiat an that is the reason that we can say that bitcoin cannot replace fiat, because bitcoin is very young and that is the reason that fiat is the number one currency of the world.
Here I completely agree with you. And I add that most people do not have access to the bitcoin, do not understand and do not know it, and for some, all or bitcoin can even be very heavy. That's for sure. I'm on my parents are watching, they will never use them, and it is only a minimal example.

That's the case for now, but as a human being we can adopt to our surroundings. It only took us a day or two to become totally into bitcoins. It only took us 2 hours to set up our bitcoin wallet. All of the things about fiat and bitcoin can easily change. Just like you said, bitcoin is still young. It's too young for us to judge its potential. We're lucky to be the first ones in here since we are going to be the one that'll make most profits.

People are becoming more and more techy. Your parents might not be able to understand bitcoins maybe because they don't even know how to access the Internet but that will not matter after a generation or two when people are all well-versed about the technology and the Internet.

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Kitchenbath
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March 05, 2017, 12:35:44 AM
 #3023

I believe that paper money will be a relic of the past in about 10 years or so. And I believe that the security will always be an issue, regardless the improvements.
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March 05, 2017, 12:53:34 AM
 #3024

No future at all!  Smiley

if you think about it, paper money is under extinction... we use "digital" money more and more. We pay for goods and food via credit / debit cards, we pay our bills via e-banking, we get paid via wire transfer, we barely get the chance to get our hands in real "physical" bills and coins.

Your insight is good but if you are thinking that way paper money is under extinction, well it might be not good to hear for those people who could not appreciate those terms that you are mentioning like those online transactions of money using digital methods. Actually online payments, like banking, bills or whatsoever that may applied through digital world of internet nowadays were only credited to those who have but not into a general purpose, because not all of the people is actually using online transactions. There were still a lot of people who has not been using this kinds of money transaction that uses cashless spending. We should not deny the fact that paper will still be produced in the future, whatever changes may happen to society paper money will still be the same in a cash form.  

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March 05, 2017, 02:32:37 AM
 #3025

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.

For now yes, they're aren't interested in incorporating bitcoin. Because they think there some other ways which that bitcoin can be possible to be regulated but that's not going to be happen, because decentralize is a decentralized and centralize will still remain as centralize. And in the end paper money will just be like be use in the toilet paper. Grin
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March 05, 2017, 07:34:16 AM
Last edit: March 08, 2017, 03:37:53 PM by coinplus
 #3026

as a human being we can adopt to our surroundings. It only took us a day or two to become totally into bitcoins. It only took us 2 hours to set up our bitcoin wallet. All of the things about fiat and bitcoin can easily change. Just like you said, bitcoin is still young. It's too young for us to judge its potential. We're lucky to be the first ones in here since we are going to be the one that'll make most profits.

People are becoming more and more techy. Your parents might not be able to understand bitcoins maybe because they don't even know how to access the Internet but that will not matter after a generation or two when people are all well-versed about the technology and the Internet.
I totally agree, as time goes on the whole world is going toward becoming more and more digital, I mean look at us now we are using virtual reality and using digital money to buy food on the internet, and I think that in the future bitcoin is going to become the main used currency because everything will become digital, and the paper money with disappear.

decentralize is a decentralized and centralize will still remain as centralize.
This is the point, I believe into that the paper money will not find its survival against bitcoin ecosystem. Definitely in future people will choose a decentralized system over the centralized one.
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March 05, 2017, 10:32:00 AM
 #3027

as a human being we can adopt to our surroundings. It only took us a day or two to become totally into bitcoins. It only took us 2 hours to set up our bitcoin wallet. All of the things about fiat and bitcoin can easily change. Just like you said, bitcoin is still young. It's too young for us to judge its potential. We're lucky to be the first ones in here since we are going to be the one that'll make most profits.

People are becoming more and more techy. Your parents might not be able to understand bitcoins maybe because they don't even know how to access the Internet but that will not matter after a generation or two when people are all well-versed about the technology and the Internet.
I totally agree, as time goes on the whole world is going toward becoming more and more digital, I mean look at us now we are using virtual reality and using digital money to buy food on the internet, and I think that in the future bitcoin is going to become the main used currency because everything will become digital, and the paper money with disappear.
By replacing the mass is still a lot of time will pass. The fact that we do not consider the periphery, where people live is not always having the internet and even a proper education to use bitcoin. It's not so simple. Even elderly will need paper money.
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March 05, 2017, 07:50:43 PM
 #3028

as a human being we can adopt to our surroundings. It only took us a day or two to become totally into bitcoins. It only took us 2 hours to set up our bitcoin wallet. All of the things about fiat and bitcoin can easily change. Just like you said, bitcoin is still young. It's too young for us to judge its potential. We're lucky to be the first ones in here since we are going to be the one that'll make most profits.

People are becoming more and more techy. Your parents might not be able to understand bitcoins maybe because they don't even know how to access the Internet but that will not matter after a generation or two when people are all well-versed about the technology and the Internet.
I totally agree, as time goes on the whole world is going toward becoming more and more digital, I mean look at us now we are using virtual reality and using digital money to buy food on the internet, and I think that in the future bitcoin is going to become the main used currency because everything will become digital, and the paper money with disappear.
By replacing the mass is still a lot of time will pass. The fact that we do not consider the periphery, where people live is not always having the internet and even a proper education to use bitcoin. It's not so simple. Even elderly will need paper money.

Many people who have access to the Internet simply do not trust Bitcoin and do not use it. Therefore, having access to the Internet does not guarantee the use of cryptocurrency. Since the inception of Bitcoin took very little time, so we can not talk about the total use cryptocurrency
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March 06, 2017, 01:08:48 AM
 #3029

In the future, paper money will disappear, it will be replaced by another currency. In other words, paper money will become worthless because many countries print more money to stimulate the economy, the value of paper money will decrease serious. And i think electronic money will be the main currency in the future because it safe, fast and ensure transparency
paper money will not be replaced with another currency. paper money only will rejuvenate become more sophisticated and more flexible. The new version will be even more likely to be digital

Well i think the future of paper money is it will still be in our future. I agree that technology right niw is in a very fast pace but think about it, there are still a lot of countries that can't catch up with how fast technology is. Digital currency may become one of the top currencies that world will use in the future but i don't think paper moneybwould be obsolete in any way because a lot of people will still have a need for it's use
but it wasnt gradually every corner of the village in every country began to internet and digital currency. I believe the future of paper money will not be too good
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March 06, 2017, 02:56:18 AM
 #3030

In the future, paper money will disappear, it will be replaced by another currency. In other words, paper money will become worthless because many countries print more money to stimulate the economy, the value of paper money will decrease serious. And i think electronic money will be the main currency in the future because it safe, fast and ensure transparency
paper money will not be replaced with another currency. paper money only will rejuvenate become more sophisticated and more flexible. The new version will be even more likely to be digital

Well i think the future of paper money is it will still be in our future. I agree that technology right niw is in a very fast pace but think about it, there are still a lot of countries that can't catch up with how fast technology is. Digital currency may become one of the top currencies that world will use in the future but i don't think paper moneybwould be obsolete in any way because a lot of people will still have a need for it's use
but it wasnt gradually every corner of the village in every country began to internet and digital currency. I believe the future of paper money will not be too good

We don't know yet but one thing I can assure is that paper money will never be out of the circulation. It is widely use by the people and even those who are using digital money are also using paper money. Not all people knows about internet so paper money will stay.
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March 06, 2017, 03:16:34 AM
 #3031

- I think in the near future, paper money will continue to exist but demand for paper money will decrease because the birth of electronic transactions. However paper money will be still payment method popular even when the digital currency become commonly use. Paper money will change and develop to suit near future but in the distant future, people might prefer using credit card because it very fast and convenient


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March 06, 2017, 06:47:55 AM
 #3032

- I think in the near future, paper money will continue to exist but demand for paper money will decrease because the birth of electronic transactions. However paper money will be still payment method popular even when the digital currency become commonly use. Paper money will change and develop to suit near future but in the distant future, people might prefer using credit card because it very fast and convenient
What a lot of the governments are attempting to do is take physical cash completely out of circulation so people have no option but to use a form of digital money, they are doing this as just another step in their dream to completely control all citizens, and they will continue do this under the blanket fear of "terrorism"

Use bitcoin and take so of you almost gone freedoms back.

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March 06, 2017, 12:22:16 PM
 #3033

- I think in the near future, paper money will continue to exist but demand for paper money will decrease because the birth of electronic transactions. However paper money will be still payment method popular even when the digital currency become commonly use. Paper money will change and develop to suit near future but in the distant future, people might prefer using credit card because it very fast and convenient

Yes that is a fact and it is a huge possibility that in the future paper money will no longer be used in small transactions due to the existence of digital currencies. But paper money will still be there as it will serve as a back-up to the existing value of this cryptocurrencies and other digital money. But whatever the future holds it is best to earn and save more bitcoins for future use.
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March 06, 2017, 12:32:52 PM
 #3034

- I think in the near future, paper money will continue to exist but demand for paper money will decrease because the birth of electronic transactions. However paper money will be still payment method popular even when the digital currency become commonly use. Paper money will change and develop to suit near future but in the distant future, people might prefer using credit card because it very fast and convenient

Yes that is a fact and it is a huge possibility that in the future paper money will no longer be used in small transactions due to the existence of digital currencies. But paper money will still be there as it will serve as a back-up to the existing value of this cryptocurrencies and other digital money. But whatever the future holds it is best to earn and save more bitcoins for future use.

We are into digital era and everything is getting digital and people who are not aware about bitcoins are using debit/credit cards for making purchases and there will be more people in future who will prefer to go cashless but the fact is paper money will always exist as people who don't have bank accounts and who are illiterate will always prefer to use paper money as that is the only way they get their wages and will find it easy to use and bitcoin can be complicated for them.

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March 06, 2017, 12:34:12 PM
 #3035

Paper money's future will be more challenging be because of digital world products, service payment and other optional payment options is widely known to be adopted at online transaction of cashless payments. This method actually encourages everyone who has bank account balances to register at online cashless transactions. Well some people might think paper money will be gone, but its not true and for my own idea of paper money will still be preserved for optional use and manual payment transaction.
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March 06, 2017, 01:34:17 PM
 #3036

Paper money would still exist as there are still lots of people who are unaware of digital transactions.Even in india, they have tried to demonitize notes and change people to digital currencies,but it failed to succeed.In venizuela also, it failed.Hence, paper money couldnot be fully demolished.But in future,usage of paper money will get reduced.
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March 06, 2017, 01:35:00 PM
 #3037

Paper money's future will be more challenging be because of digital world products, service payment and other optional payment options is widely known to be adopted at online transaction of cashless payments. This method actually encourages everyone who has bank account balances to register at online cashless transactions. Well some people might think paper money will be gone, but its not true and for my own idea of paper money will still be preserved for optional use and manual payment transaction.
That's what I think too, paper money would still exist in the future. We always need cash for transcation that needs an instant payment. The more choices, the merrier lol  Grin I don't think that paper moeny will disappear when time comes that bitcoin become a official currency.

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ashapasa
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March 06, 2017, 01:37:35 PM
 #3038

Paper money's future will be more challenging be because of digital world products, service payment and other optional payment options is widely known to be adopted at online transaction of cashless payments. This method actually encourages everyone who has bank account balances to register at online cashless transactions. Well some people might think paper money will be gone, but its not true and for my own idea of paper money will still be preserved for optional use and manual payment transaction.
That's what I think too, paper money would still exist in the future. We always need cash for transcation that needs an instant payment. The more choices, the merrier lol  Grin I don't think that paper moeny will disappear when time comes that bitcoin become a official currency.

I don't think that bitcoin can become official currency as not all the Governments will stand in support of bitcoins as it can be a threat to their national currency and no Government will wish that their national currency would get replaced with any digital currency and bitcoin will always be used as a secondary currency and not the primary one.
CEJ
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March 06, 2017, 01:44:40 PM
 #3039


Paper money is not going to last  for more than 3-4 decades.Most of the paper money is going to be demonetized.I think that instead e-money is gonna be popular.Nevertheless paper money is a drag.Cheesy Why carry liquid cash,when u can easily do transaction over mobile,?
darthmaul
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March 06, 2017, 05:07:27 PM
 #3040

Well, no doubt that Andrew Haldane (Chief Economist) is the smart decision maker. However, state-backed digital currency sounds little of the track for entirely banning paper money. Issuing a digital currency first of all will need to re-invest in entire countries economy meaning they will have to run big campaign throughout the nation to let people know what Bank of England is up to. There would be obvious discrepancies among the public where to trust an Internet based digital currency. Because many of them won't trust the electronic payments even today (cards, internet banking etc. ) Moreover, they will have to gain trust over the digitization as anybody would love to see hard cash at many times. What I mean by this is, people are use to hard cash since they born and bought up and sudden change in (that to major and related to money!) would be little unhappy to accept straight away.

Though they decide to get this job done then I believe it will take up to 1 decade! Changing whole currency in nation is not just about that nation. There are so many outward factors such as economic relationship with other countries. Big currency exchanges, trades between two different nation all works on harmony of currencies' value. It means if the change is in one nation then it has to be accepted world wide to take effect.

This explains about security and privacy concerns also. Well thinking about rapid changing technology, if virtual currency like bitcoin has taken such hike then people will tend to make it insecure (Hackers!) to gain control over it as it is handy and available over a network. Moreover Bitcoin being anonymous no one will ever find out where and who stole your bitcoin!

Thus, all the discussion takes my thinking towards negative scale of paper money future. I mean people will love to have both type of currencies in their wallet (paper + digital) this will make them feel more secured.

:-)

 
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