The future of the paper money

[BillCoin]

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.

Yes, I agree, our government always want to have a full control over our currency, either be it local or digital. That's why they are having a hard time accepting bitcoin because they can't control it because of its anonymity. They can't track the transaction so they will not find out who and where the money will go. I guess given the chance that the government can track transaction of bitcoin, I'm sure that they will impose tax even to our earned bitcoin.

but one day government have to accept and adopt bitcoin when their paper money will not have any more value due to large usage of digital currency.

govt is not accepting bitcoin because with paper money they can do corruption and collect black money very easily but bitcoin will not let them to continue corruption. 

I believe that if bitcoin is going to be accepted and in the future and is going to replace paper money, then we are going to have some kind of bitcoin paper money.
Bills that contain bitcoin is a must.
There are plenty of places without  access to the internet, means they won't be able to transfer bitcoins and the traditional way.

[1713428258]

1713428258

[Theb]

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.

Yes, I agree, our government always want to have a full control over our currency, either be it local or digital. That's why they are having a hard time accepting bitcoin because they can't control it because of its anonymity. They can't track the transaction so they will not find out who and where the money will go. I guess given the chance that the government can track transaction of bitcoin, I'm sure that they will impose tax even to our earned bitcoin.

but one day government have to accept and adopt bitcoin when their paper money will not have any more value due to large usage of digital currency.

govt is not accepting bitcoin because with paper money they can do corruption and collect black money very easily but bitcoin will not let them to continue corruption. 

I believe that if bitcoin is going to be accepted and in the future and is going to replace paper money, then we are going to have some kind of bitcoin paper money.
Bills that contain bitcoin is a must.
There are plenty of places without  access to the internet, means they won't be able to transfer bitcoins and the traditional way.

How did you guess that Fiat currency will only stay here for 10-20 more years? Where are you getting your statements? Because clearly there are no news, articles, or any developments of the government of thinking that they will replace the fiat currency. Not unless they want to be replace by the so called cryptocurrency (which is highly unlikely) Fiat Currency is here to stay it has been our common medium of exchange.

[PokerFace3]

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

You don't have to rely on Bitcoin to kill off paper money though. Digital fiat will be the end of paper currency long before bitcoin will. Digital fiat already dominated the US economy. Far more value is exchanged digitally than physically, perhaps even more absolute transactions as well.

i think currency bitcoin do not have the power to kill paper money, i think still paper money is the need of all the people of the world, even those people who are using bitcoin for online as well as for offline purposes, but may be in future when the uses of bitcoin will become so common that every person will start using bitcoin, then may be bitcoin overcome paper money and people stop using paper money at all.

Paper money is used in almost all the world. I have no doubt in saying that bitcoin can never overcome the paper money. We still have a long way to go, to see whether the bitcoin is to beat any other currency or not. The uses of paper money and bitcoin may be the same but there is a huge difference in the characteristics of both of them. A paper money is something which is used without any use of other technology, directly on the spot.

[NEWGOODOUBLE]

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.

You're right paper money is increasingly rarely used. You can see people prefer to use digital money to shop in stores. It means the future of paper money will be bad

[BillCoin]

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.

You're right paper money is increasingly rarely used. You can see people prefer to use digital money to shop in stores. It means the future of paper money will be bad

"Paper Money  is rarely used"-That made me laugh a bit, where did you take that info from?
Paper money is probably the most used payment method in the world,being used daily by almost every human on earth.
"People prefer to use digital money to shop in stores"- again, where did you get that info from?, 99.99% of the stores on earth doesn't even accept digital currencies.

You should review your message before posing it as it makes nonsense.

[deisik]

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.

Yes, I agree, our government always want to have a full control over our currency, either be it local or digital. That's why they are having a hard time accepting bitcoin because they can't control it because of its anonymity. They can't track the transaction so they will not find out who and where the money will go. I guess given the chance that the government can track transaction of bitcoin, I'm sure that they will impose tax even to our earned bitcoin.

That is the job of the government. Of course government having its authority should impose its authority hence one of those is to put taxes. Though I still think they will recognize and legalize the Bitcoin like Russia who did a U-turn regarding this matter as they see Bitcoin as a solution to the crisis they have been facing. Also it has a good inside in this though like what I read a while ago that by this it will promote the risk of being scammed and serves as a anti-money laundering and also it will protect the freedom that we have today with Bitcoin.

I'm really curious where you got this idea from or whom

Do you have any evidence to substantiate your claims? As far as I'm acquainted with the question, it is nowhere near to being "a solution to the crisis they have been facing". The Russian Ministry of Finance is just going to treat Bitcoin as a "financial product" starting next year but it is still no more than a proposal only as of yet. I don't think that could even remotely count as a solution to any economic crisis (but you may refer to something else, of course)

[naidray]

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

Your claim is related to the faith; it’s true so no need to comment on it. The other part is if the government bans cash circulation or something, it has also been tried in a form that the government decides to change the money bills and coins. It has been practiced several times in many countries.

Banning the cash transaction can only happen in the extreme situation and people will definitely find a way out to ease their lives.

[deisik]

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

Your claim is related to the faith; it’s true so no need to comment on it. The other part is if the government bans cash circulation or something, it has also been tried in a form that the government decides to change the money bills and coins. It has been practiced several times in many countries.

Banning the cash transaction can only happen in the extreme situation and people will definitely find a way out to ease their lives

But how are you going to implement this in real life?

The only route that I can think of is not about banning cash as such. It is about declaring bills of certain denominations as no longer valid and legit. In most extreme cases (as you say), a government may just announce that all denominations of cash money are null and void, though when this practice was actually followed in real life, the reasons for that had certainly been different from banning cash itself. Whatever they might be, the effect is essentially the same, i.e. people distrusting their national currency and converting their monetary savings and earnings into some foreign currency (most likely the US dollar)

[subodhmore123aqs]

digital money more safer than paper money... future is digital concept

[sana54210]

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

You don't have to rely on Bitcoin to kill off paper money though. Digital fiat will be the end of paper currency long before bitcoin will. Digital fiat already dominated the US economy. Far more value is exchanged digitally than physically, perhaps even more absolute transactions as well.

Some countries I think would or will replace their paper currency with the digital ones that is those countries who are wealthy but to those who are not might just retain their system as their access in this technological advance can't cope up with their living that is they need cellphones or what to connect to internet and proceed with the transactions. It is natural to think that Bitcoin will be the one to trigger the transformation of fiat to cryptocurrency as it is the leading digital coin and much more reputable and advantageous in many aspects which everyone would like but it may or may not be Bitcoin because the can just create a cryptocurrency to be used within the country in order to replace what they have now so the government can control it but not fully control it if you know what I mean so that they can put come taxes on it.

It is just an assumption or a hypothesis but being practical I don’t think anything like it is going to happen as we all k now the importance of the paper money and the complications connected to the digital currency. It may be possible that in some parts of a country people may prefer to use digital currency but the paper money is still going to be surviving long.

[freedomgo]

digital money more safer than paper money... future is digital concept

It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.

[Sled]

digital money more safer than paper money... future is digital concept

The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.

[geegaw]

digital money more safer than paper money... future is digital concept

The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.

Right, I think digital money can not be more secure than paper money because digital money is easy to be hacked and stolen, every year I hear hackers attack and steal millions of digital money. The security of digital money is low, I never put too much faith and fortune into digital money, digital money is something very dangerous and using it in real life is very inconvenient. The future of digital money can grow but it is only added as a method of payment, paper money is still the most commonly used currency

[NEWGOODOUBLE]

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.

You're right paper money is increasingly rarely used. You can see people prefer to use digital money to shop in stores. It means the future of paper money will be bad

"Paper Money  is rarely used"-That made me laugh a bit, where did you take that info from?
Paper money is probably the most used payment method in the world,being used daily by almost every human on earth.
"People prefer to use digital money to shop in stores"- again, where did you get that info from?, 99.99% of the stores on earth doesn't even accept digital currencies.

You should review your message before posing it as it makes nonsense.

I do not say rarely used, I say it is increasingly rarely used. That's different I know most people still use paper money to shop. But many people are starting to migrate from paper money

[Skylake]

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too

[Fatanut]

digital money more safer than paper money... future is digital concept

The digital money is not safe as of now because there is a lot of things to consider like the security which is very vulnerable for the professional hackers, so if you are planning to place your money in the internet to make it digital then you are risking yourself and you are prone to digital attacks that can lead to money loss.

Right, I think digital money can not be more secure than paper money because digital money is easy to be hacked and stolen, every year I hear hackers attack and steal millions of digital money. The security of digital money is low, I never put too much faith and fortune into digital money, digital money is something very dangerous and using it in real life is very inconvenient. The future of digital money can grow but it is only added as a method of payment, paper money is still the most commonly used currency

Then what are you doing in here? It's ironic that you don't trust digital money and you're thinking that the security is low but you trust bitcoin enough to use it. You should have withdrawn all of your bank money and all of your bitcoins by the time that you realized all that. Yet here you are.

You hear hackers stealing this and that but that doesn't mean that they are going to steal your money specifically. They would target online wallets or even exchanges. They will target something big. To make your bitcoins safe, which is also a digital money by the way, you should create a desktop wallet or even a paper wallet. You hear in the news people getting hacked and getting tricked, but that's their fault. They didn't secure their money enough.

In addition, your money in the banks are also digital money. But have you heard people that have been using the bank you're using that some of their money just went missing all of a sudden.

[gabmen]

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too

Well nowadays, you can lose money wherever you put it. Be it in a bank or an online waller, or on a piggy bank at home. Safety would be up to the person himself. You would have to make certain measure to make your savings, either btc or fiat safe from people who would like to take advantage.

[icecube45]

digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too

Safe or not it depends on how we use it, so digital money and paper money are just the same. Both have the potential to disappear, so we must be careful using it. If talking about the future maybe yes it is a digital concept, but in my opinion does not mean paper money will be abandoned. Indeed, the circulation of paper money will be reduced but in some direct transactions I still believe the paper money will still be used. For 10 years from now I'm sure the paper money will still have a big demand.

[BeGoods]

digital money more safer than paper money... future is digital concept

It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.

I think both have a good reason. Paper money can survive because it is easy to use and simple. But digital money has a good flexibility to carry a lot of money when they go out

[Dr.Osh]

digital money more safer than paper money... future is digital concept

It's not only that we use because it is safe, what matters is to serve all the people and digital money is not for the poor. Paper money is very simple to use and there is no problem with using it, I guess it is also safe in the sense that your money is not vulnerable to hacks. Depends actually on your status in life, poor people has no interest with digital currency and paper money already gives convenience to them.

I think both have a good reason. Paper money can survive because it is easy to use and simple. But digital money has a good flexibility to carry a lot of money when they go out

Well, both are very good, especially paper money is currently busy used. Well, maybe now the use of paper money and digital money almost have the same function, but I am sure, someday, people tend to use digital money from paper money.