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Author Topic: The future of the paper money  (Read 412183 times)
killyou73
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April 25, 2017, 10:59:52 AM
 #3281

Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.

I do not think that the question is clear enough in the OP because there is paper money that is fiat and paper money that is not. There has not been one fiat system to last but water and food have always been currencies. I think that the global economy is too large for paper money to not exist,

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April 25, 2017, 11:02:54 AM
 #3282

The paper money period is quite long but it will be replaced with a more secure and comfortable coin, it may take 10 or 20 years.


Even with a duration of 10 to 20 years, we can't be sure that they will be accepting digital currency especially the poor countries. Paper money are the type of money we are used to, so it is really hard adjusting a group of people using these digital currencies. If you ask me, it will be more in the future maybe 100 to 200 years.


 
 
 
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April 25, 2017, 11:12:28 AM
 #3283

The paper money period is quite long but it will be replaced with a more secure and comfortable coin, it may take 10 or 20 years.


Even with a duration of 10 to 20 years, we can't be sure that they will be accepting digital currency especially the poor countries. Paper money are the type of money we are used to, so it is really hard adjusting a group of people using these digital currencies. If you ask me, it will be more in the future maybe 100 to 200 years.
I don't agree with you. Everyone now has a mobile phone even in poor countries. It is a potential e-wallet. To teach them to use very quickly. In return, the state will have full control over the money. Do you think this is a weak incentive for the state?
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April 25, 2017, 12:45:37 PM
 #3284

Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
Paper money will cease to exist. First, their production costs money, the second counterfeiting brings damage to the economy, in the third government does not control, and current trends lead to gain control over people. Be it bitcoin or the national currency is not important

Without telling the specific terms it is no more than empty verbiage

I could just as well claim that everything will cease to exist and now try to prove me wrong. Other than that, even if some stupid government bans cash from circulation today, people will just start using some foreign currency bills and coins tomorrow for cash payments and settling accounts between themselves. There is no point in forbidding something when you lack the power to enforce the ban. Moreover, it will be counterproductive since people will just start distrusting their government even more than usual

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April 25, 2017, 12:53:54 PM
 #3285

The paper money period is quite long but it will be replaced with a more secure and comfortable coin, it may take 10 or 20 years.


Even with a duration of 10 to 20 years, we can't be sure that they will be accepting digital currency especially the poor countries. Paper money are the type of money we are used to, so it is really hard adjusting a group of people using these digital currencies. If you ask me, it will be more in the future maybe 100 to 200 years.
I don't agree with you. Everyone now has a mobile phone even in poor countries. It is a potential e-wallet. To teach them to use very quickly. In return, the state will have full control over the money. Do you think this is a weak incentive for the state?

I don't think that problem is technology or lack of it but the fact is that world economies are more or less still functioning on conservative and old fashioned way and paper money is part of that. Also national currency is part of national identity and sovereignity and that is also the reason why governments don't like to give that up.

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goldcoinminer
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April 25, 2017, 01:04:22 PM
 #3286

The paper money period is quite long but it will be replaced with a more secure and comfortable coin, it may take 10 or 20 years.


Even with a duration of 10 to 20 years, we can't be sure that they will be accepting digital currency especially the poor countries. Paper money are the type of money we are used to, so it is really hard adjusting a group of people using these digital currencies. If you ask me, it will be more in the future maybe 100 to 200 years.
I don't agree with you. Everyone now has a mobile phone even in poor countries. It is a potential e-wallet. To teach them to use very quickly. In return, the state will have full control over the money. Do you think this is a weak incentive for the state?
People can accept digital currency but still majority will not be able to comprehend this things easily.
Digital money if for people only who have business online and if there is no need to do it, why would they adopt.

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April 25, 2017, 02:46:00 PM
 #3287

The future of money is safe and I don't see it going anywhere as there are many people who feel easy to use paper money and apart from that they don't have any other option of purchasing anything so paper money will always show its presence.

That is very straightforward thinking and indeed true. Paper money is like "I want it with me" thing. You can not really loosen up cash from you. Moreover, my guess is there are people who save their money in hard cash to cut off the taxes by not showing up the money into bank accounts. Why people with billions of dollars would even present their money into banks if the money is coming from wrong way. And I'm guessing there are lot more people like this.  Grin

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April 25, 2017, 02:55:09 PM
 #3288

The paper money period is quite long but it will be replaced with a more secure and comfortable coin, it may take 10 or 20 years.


Even with a duration of 10 to 20 years, we can't be sure that they will be accepting digital currency especially the poor countries. Paper money are the type of money we are used to, so it is really hard adjusting a group of people using these digital currencies. If you ask me, it will be more in the future maybe 100 to 200 years.
I don't agree with you. Everyone now has a mobile phone even in poor countries. It is a potential e-wallet. To teach them to use very quickly. In return, the state will have full control over the money. Do you think this is a weak incentive for the state?
People can accept digital currency but still majority will not be able to comprehend this things easily.
Digital money if for people only who have a business online and if there is no need to do it, why would they adopt.
Now all countries govt are telling people to use digital wallets to do daily business. So if this continues means one day the world will become digitalized. But I am sure the paper currency will never disappear. If suppose it happen in future means it will take a number of years. So I am sure this generation it will not happen.
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April 25, 2017, 03:02:08 PM
 #3289

bitcoin price will never gone because politician and the whole government will disagree if there will be someone implenting of no papermoney. paper money is the only reason why they can corrupt it . and steal people from the people of each country. but if it will be implemented on transferring the money on a microchip maybe there will be less corruption in the whole world.

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April 25, 2017, 03:06:36 PM
 #3290

bitcoin price will never gone because politician and the whole government will disagree if there will be someone implenting of no papermoney. paper money is the only reason why they can corrupt it . and steal people from the people of each country. but if it will be implemented on transferring the money on a microchip maybe there will be less corruption in the whole world.
Corruption has been and will be always and everywhere. Why do you think that as a bribe not to give the house or trips to a Spa, give the car and a lot more then. We are not interested in money( if you are not a numismatist), we are interested in what you can buy for the money.
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April 25, 2017, 03:11:21 PM
 #3291

The future of money is safe and I don't see it going anywhere as there are many people who feel easy to use paper money and apart from that they don't have any other option of purchasing anything so paper money will always show its presence.


Paper money can be replaced completely by digital currency but it will take a lot of time. There need to be a proper planning to first make legal the use of bitcoin in every country and deploy the infrastructure of internet in under-developed countries and in remote areas. Not to mention the people needs to train on using the internet, the wallets, private key and all such stuff.

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Capradina
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April 25, 2017, 03:29:23 PM
 #3292

The future of money is safe and I don't see it going anywhere as there are many people who feel easy to use paper money and apart from that they don't have any other option of purchasing anything so paper money will always show its presence.

paper money is indeed still the main choice will always be doing something. But banknotes can only easily be done to deal with very small amounts, for melakuakn great deals with the use of paper money will become a serious enough threat when such transactions are known by the villain and the most horrible thing was we could become targets of assassination. Someone who can see the technology with intelligent it will be easy to get the profit
 

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Hypnosis00
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April 25, 2017, 03:35:29 PM
 #3293

The future of paper money is still bright and shining just like in bitcoin but i think most of the people here think that bitcoin will replace the paper money which is i don't think will happen because there is a lot of problems for bitcoin to be a replacement for paper money like the approval of the government and being anonymous which the government didn't like about bitcoin.

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so98nn
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April 25, 2017, 03:38:53 PM
 #3294

The future of paper money is still bright and shining just like in bitcoin but i think most of the people here think that bitcoin will replace the paper money which is i don't think will happen because there is a lot of problems for bitcoin to be a replacement for paper money like the approval of the government and being anonymous which the government didn't like about bitcoin.

Yes sure, Bitcoin can never replace paper money! But I have doubt if paper money has glorifying future because trend says its use getting decrease day by day whereas bitcoin is being increasingly used. So by percentage change we can say bitcoin doing better than paper money.
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April 25, 2017, 05:41:30 PM
 #3295

I prefer to use coin as a means of payment because with coin I guarantee no damage.

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April 25, 2017, 05:49:49 PM
 #3296

I prefer to use coin as a means of payment because with coin I guarantee no damage.
I think the best form of money is paper money. Yeah, previous people have tried in the form of coins, and currently developed in the form of paper money, so I think, the coin may be quite difficult, and troublesome to make the transaction, especially if it has a high nominal.



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April 25, 2017, 07:32:48 PM
 #3297

The future of money is safe and I don't see it going anywhere as there are many people who feel easy to use paper money and apart from that they don't have any other option of purchasing anything so paper money will always show its presence.


Paper money can be replaced completely by digital currency but it will take a lot of time. There need to be a proper planning to first make legal the use of bitcoin in every country and deploy the infrastructure of internet in under-developed countries and in remote areas. Not to mention the people needs to train on using the internet, the wallets, private key and all such stuff

You who is going to do all that?

Bitcoin is not a charity foundation, nor is it a government issued currency which would make sense of "there need to be a proper planning". Bitcoin can only expand only by economic means via being profitable, competitive, and overall useful (more useful than fiat currencies). There is no other way, and that is in fact good since whenever it makes progress, this progress is based on strong reality, not some ephemeral idea or utopia

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April 25, 2017, 08:58:58 PM
 #3298

Paper money's future still be the same only that it will be lessen in usage due to bitcoin digital currency is the mostly used currency in the future years to come. Hopefully this will be happening so that bitcoin price will be more stable in the marketplace just like the fiat money currency money. Bitcoin that time wil be the most profitable investment to have amd paper money will be reduced in spending and exchanges but it will not vanish in banking because offline using still remains like in local wet markets and those who doesn't knew how to use the digital world of internet transactions, because bitcoin needs to be accessed through online network.

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April 25, 2017, 09:26:51 PM
 #3299

The future of paper money is still bright and shining just like in bitcoin but i think most of the people here think that bitcoin will replace the paper money which is i don't think will happen because there is a lot of problems for bitcoin to be a replacement for paper money like the approval of the government and being anonymous which the government didn't like about bitcoin.

Yes sure, Bitcoin can never replace paper money! But I have doubt if paper money has glorifying future because trend says its use getting decrease day by day whereas bitcoin is being increasingly used. So by percentage change we can say bitcoin doing better than paper money.

It's hard to think that bitcoin will replace paper money. It's a plan of the government that they will try to upgrade the monetary system, they will make it digital but I don't think that it will be bitcoin, it will be bitcoin inspired type of money. But I'm worried for those people that are still not into technology specially those who are leaving in rural places and depressed areas.

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April 26, 2017, 01:42:10 AM
 #3300

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes correct, paper money will stay forever. But others want to use bitcoin because it is safe, you can use in payment transaction, online shopping and online gambling. Bitcoin have many uses so that others want to use it like funding online. Since bitcoin prices is not stable others want to make a profit and then invest it for securing the future. We're lucky of having bitcoin in our market it is very big helps to other who want to job. You can earn online by the bitcoin.

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