The future of the paper money

[Kasabus]

I think that paper money will always be popular and in demand, because it is much more pleasant to feel bills in your hands than to constantly worry about a possible hacking of your card or electronic wallet.

Of course, even the educated people will prefer to use paper money when the circulation of paper money is till rampant.
Bitcoin as payment system does not eliminate paper money in circulation, they have different purpose.

[1713990162]

1713990162

[deisik]

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

Yes agree that paper money is the most common form of money used in the world and it will be common for some more time. The digital money is insecure as compare to it but after taking the interest of the government it will not be that much insecure, the reason on the digital currency hacking and stuff is due to the lack of interest of the government. 

That seems a little bit off. Digital fiat is heavily supported by the government but we still see people getting their cards hacked. We still see people losing their digital currency funds. And let's say that the government will give interest to bitcoins, will they secure it? Will they even help securing it? The government is the administration of the country, they are not the Dark Army that can protect us from the possible attacks that can happen.

And let's just say that bitcoin network becomes even more secured, the 51% attack is still possible to do. It requires tons of money. It will only take one rich villain to do that

In fact, fiat currency is not very far from Bitcoin in this regard either

When you mentioned "one rich villain", I immediately thought of George Soros and his attack against the British pound in general and the Bank of England in particular. Soros won, while the British pound was then back and still is today one of the major currencies out there (along with the US dollar, Swiss frank and Euro). So my claim should be even truer with respect to smaller and thus weaker currencies. Governments can basically do nothing against big fish of Soros calibre unless they impose strict controls on currency operations (read speculation), but that alone would instantly render this currency as non-marketable

[Harlot]

I don't think that it will be one of the main focus of England right now as recently because of the BREXIT it affected there own economy and currency as a whole from 1 British Pound = 1.45 USD and after brexit it got down to 1.20 USD per British Pound which is a big price reduction. And I don't think issuing a digital currency would be their main priority as of the moment. There main focus I think is to make there currency back on track again. How do they do it? They must improve there economy as a whole.

[BeGoods]

To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.

it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin

Maybe a few more decades paper money will really be left behind. For the near future I think digital currency has not been able to shift paper money. But from time to time. I'm sure the use of paper money began to erode

[OakChain]

Paper money/cash will be gone overtime. When you think about it, it's 2017, and we still pay some goods with cash. Not to mention the administration hassle that comes with it for merchants/retailers and the money collecting process by banks. Costing man hours, trainings, fuel and a bunch more. While electronic transactions like bitcoin or a classic bank transaction are way more efficient!
I'm not saying bitcoin will replace paper money / cash. Bitcoin is simply to slow and limited in transactions in it's current state to be suitable for mass adoption and replace paper money. But the fact is there, paper money/cash is one of the most outdated methods to pay for goods and totally un-efficient.

Having said all that, I do think this will take another 2, maybe 3 decades before actual paper money/cash is really gone from the system and replaced by something else.

[fujyo86]

Paper money/cash will be gone overtime. When you think about it, it's 2017, and we still pay some goods with cash. Not to mention the administration hassle that comes with it for merchants/retailers and the money collecting process by banks. Costing man hours, trainings, fuel and a bunch more. While electronic transactions like bitcoin or a classic bank transaction are way more efficient!
I'm not saying bitcoin will replace paper money / cash. Bitcoin is simply to slow and limited in transactions in it's current state to be suitable for mass adoption and replace paper money. But the fact is there, paper money/cash is one of the most outdated methods to pay for goods and totally un-efficient.

Having said all that, I do think this will take another 2, maybe 3 decades before actual paper money/cash is really gone from the system and replaced by something else.

And bitcoin really has an opportunity to improve the current circulation system of paper money. Where bitcoin is much more efficient with the lower transaction costs imposed.

[yokosan]

Paper currency is not prohibited but paper money circulation is used less.
Is not that right now too? We use credit cards.
The privacy issue is nice if there are risks about security.
Some of the private sector is already using it. public still hesitates.

[geegaw]

To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.

it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin

Maybe a few more decades paper money will really be left behind. For the near future I think digital currency has not been able to shift paper money. But from time to time. I'm sure the use of paper money began to erode

I do not think so, I believe that the future of paper money will continue to sustainable development and stability, paper money will never be left behind or eroded over time, it is still a common currency and used widely in all over the world because paper money is very convenient, safe and popular, reliable. Digital money is just another payment method in the future, digital money is not safe and very inconvenient in payment, I think nobody likes to buy something cheap and pay by card.  Instead, I think they like just taking wallets and using paper money

[Rostadom]

I think that paper money will always be popular and in demand, because it is much more pleasant to feel bills in your hands than to constantly worry about a possible hacking of your card or electronic wallet.

But it's even more pleasant going to sleep knowing the fact that bitcoins has increased by $300 and probably would increase more in the coming years. Even though we don't feel it, fiat is inflating heavily. We all know that everything that's not scarce will have a zero value. The government literally just print out money whenever they need it while everyone else has to go to their shitty job for 8AM to 5PM everyday and do overtime just to get some more money.

It will come to the point when fiat is too many that your currency isn't worth that much. You'd think that the commodities are becoming more and more expensive when it's just your currency devaluating.

[BillCoin]

Paper currency is not prohibited but paper money circulation is used less.
Is not that right now too? We use credit cards.
The privacy issue is nice if there are risks about security.
Some of the private sector is already using it. public still hesitates.

That's what bitcoin is here to replace.
The credit cards, all the payments that are being processed online could be replaced by this nice and safe thing called bitcoin.
I hope that the whole world will start realize what great deal we are facing .

[HongKong]

I have a feeling that paper money will somehow disappear one day and things like credit card payments will be the norm for the people living in the next generation. Since there is a bunch of people that already owe a bunch of money to those credit card companies, I think that they will try to erase people's credit card debt if the individuals move to a different payment system that they have. Since they technically owe zero money only Fiat, I am sure that it would be possible if they get large enough.

[sana54210]

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

Yes, in history of many countries we see that the government has taken steps due to certain reasons most common among them is to hold and freeze the black money so the government change the currency notes. An example of this is the approach recently practiced by the Indian government, where the government decided to change the currency notes. 

[Snow Angel]

I have a feeling that paper money will somehow disappear one day and things like credit card payments will be the norm for the people living in the next generation. Since there is a bunch of people that already owe a bunch of money to those credit card companies, I think that they will try to erase people's credit card debt if the individuals move to a different payment system that they have. Since they technically owe zero money only Fiat, I am sure that it would be possible if they get large enough.

Yes, I agree with this. This is becoming more and more visible even at the present moment. Less people are using cash and mostly we prefer paying by credit card. However there is still seeking of new payment method which would be the safest and more convenient.

[ipungadhi]

To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.

it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin

I think for decades it will be difficult for digital currencies to take over paper money. Because most people are still not aware of technology. Maybe this will take a long time to process

[Bitcoin1216]

paper money will continue to be problematic because times had changed, the transaction may not continue to depend on global paper money because human mobility is very high. bitcoin is the best solution to replace its paper money.

[Ipwich]

paper money will continue to be problematic because times had changed, the transaction may not continue to depend on global paper money because human mobility is very high. bitcoin is the best solution to replace its paper money.

You have no idea what you are talking, people will be problematic if we will force them to adopt crypto currency when they do not
fully understand it, paper money has been here for many years and people been using it with no problem.

[SimmonenY]

Government always wants to control society and money is one of the tools to do it. With cryptocurrency it's hard as it is decentralized and doesn't depend on anything that is under governments' sphere of influence. But it won't loose it's control because each country's economy partially depends on local currency. So, I think, they won't allow cryptocurrency prevail.

[deisik]

To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.

it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin

I think for decades it will be difficult for digital currencies to take over paper money. Because most people are still not aware of technology. Maybe this will take a long time to process

I don't think it will require plenty of time to get used to digital money

Personally, I'd rather say it is sooner a matter of technology itself not available everywhere (and that will likely persist for quite some time) as well as a question of convenience (and that, I guess, will always be there). In many cases payment cards (the representation of digital money in real life) are not very handy overall, for example, in a bar (when you look for a hooker) or in a restaurant when you want to leave hefty tips to show off before your girlfriend

[mornabo]

To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.

it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin

I think digital money is not just cryptocurrency, maybe someday the government will issue a virtual currency to replace the obsolete paper money. I think it might just happen

[ocid]

The future paper money will remain on use it for all nations, although at the is much currency new in use.
A little example currency digital much used in now so that many investors or the the seller and buyer transact use currency this digital.
But a paper currency had more historical value to all states.