The future of the paper money

[PancherBitCoin]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

That is right that the paper currency or the fiat will be just reduced in terms of users because a lot of people now are into digital currencies because they can have currency which is fast,secure and fiat and also investment at the same time because they can earn money with the digital currencies in just a matter of time.

It can happen in countries like America and the rest of the developed countries but in the third world countries such as Africa and a large region of Asian countries the fiat is not going to be reduced of the its use cannot be reduced because of the uneducated people to the technology.

As the BTC is a technological revolution, it could be used only where people prefer to use the technology.

The technological revolution in the field of cryptography is very relevant today. But this technology will only be used in special cases, as Bitcoin will be in demand only among a certain number of people and will not gain mass use in my opinion. Because a simple person is much easier to handle real paper money than to use the Internet, a computer, or other things to use Bitcoin.

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[chineseprancing]

I think the future of paper money were no change, because if this paper currency were left in the market they had a possibility that rotation of the money in the market were not become balance. Also, if the digital currency were known as primary currency they had a tendency that paper currency were die and dissolve in the industry.

[Azkabal]

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?

I think in future paper money will disappear and Digital/Crypto money will raise. But it need more time to go.
I think paper money go into the blackhole in 40-50 years

[basesaw]

I think the future of paper money were no change, because if this paper currency were left in the market they had a possibility that rotation of the money in the market were not become balance. Also, if the digital currency were known as primary currency they had a tendency that paper currency were die and dissolve in the industry.

But still it is very possible that paper money would be replaced by digital currency. Digital currency has a lot of advantage plus it can reduce the consumption of producing papers. It helps the environment plus it cant be steal easily when you someone stole your wallet to you. you can easily claim it with other devices and lock down the wallet you are using.

[Karmakid]

Paper money may be still seen in fture ages but not totally banned,you can see paper money but i think paper money will be antique when technology and cryptocurrency take spot on our future developments

[basesaw]

Paper money may be still seen in fture ages but not totally banned,you can see paper money but i think paper money will be antique when technology and cryptocurrency take spot on our future developments

no one says that paper money would be banned. as we all know paper money is used a long time ago and is trusted collateral by the means of trading. so if you totally banned the paper money. the value of it will be nothing if you do so.

[fujyo86]

Paper money may be still seen in fture ages but not totally banned,you can see paper money but i think paper money will be antique when technology and cryptocurrency take spot on our future developments

no one says that paper money would be banned. as we all know paper money is used a long time ago and is trusted collateral by the means of trading. so if you totally banned the paper money. the value of it will be nothing if you do so.

Government will issue a new form in the future. True, current paper money will become antiques when all financial activities have been using technology.

[btcjocan]

Paper money may be still seen in fture ages but not totally banned,you can see paper money but i think paper money will be antique when technology and cryptocurrency take spot on our future developments

no one says that paper money would be banned. as we all know paper money is used a long time ago and is trusted collateral by the means of trading. so if you totally banned the paper money. the value of it will be nothing if you do so.

Government will issue a new form in the future. True, current paper money will become antiques when all financial activities have been using technology.

Really? It sounds impossible to happen with paper money to an antique type, because not all of the people around the world knows a computer technology. With that ways you are talking how can you transact with an offline trading which a person only know how to use is paper money currency. Bitcoin is a unique currency but, you cannot abolish the use of fiat paper money currency as well as it can immediately be used without any computerized technology and very compatible to be exchanged with digital currency.

[Obito]

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?

I don't think that paper money will replace by bitcoin because as of now still bitcoin is incomplete and has a lot of disadvantages. Paper money will never be vanish not even in 10-20 years from now. Maybe bitcoin will became another way of payment. Paper money is our traditional mode of payment and I think government will never let it gone.

[akar87]

Paper money will remain. Because paper money is guaranteed and protected by government. Especially if paper money will be replaced by bitcoin, difficult to happen. Because not all countries accept bitcoin as a means of payment, especially countries on Asia and Africa.

[notyours]

Paper money may be still seen in fture ages but not totally banned,you can see paper money but i think paper money will be antique when technology and cryptocurrency take spot on our future developments

no one says that paper money would be banned. as we all know paper money is used a long time ago and is trusted collateral by the means of trading. so if you totally banned the paper money. the value of it will be nothing if you do so.

Government will issue a new form in the future. True, current paper money will become antiques when all financial activities have been using technology.

Really? It sounds impossible to happen with paper money to an antique type, because not all of the people around the world knows a computer technology. With that ways you are talking how can you transact with an offline trading which a person only know how to use is paper money currency. Bitcoin is a unique currency but, you cannot abolish the use of fiat paper money currency as well as it can immediately be used without any computerized technology and very compatible to be exchanged with digital currency.

Yep what you have said is true so I'll just interpret it a little more. Some people are not computer-literate or in other words they are not that knowledgeable rearding this kind of things and also digital currency can't be accessible without having a medium that is a gadget and also internet. Fiat currency is still ghe best form of a medium in transactions or exchanges and also if the government would be the one go release this some kind of digital currency then there won't be any difference than having a fiat currency.

[Japinat]

Paper money will remain. Because paper money is guaranteed and protected by government. Especially if paper money will be replaced by bitcoin, difficult to happen. Because not all countries accept bitcoin as a means of payment, especially countries on Asia and Africa.

Only the government can eliminate the circulation of paper money but I doubt if they can do it with the current situation of the world, there are plenty of people who lacks education and they would not easily understand the new technology as they are primarily focus on working of their basic needs.

These people will prefer to use a simple way in transaction and something that they are used to, that is paper money and the government cannot sacrifice this group of people just to change the current system and adopt with the new technology.

[Przemax]

Paper money will remain. Because paper money is guaranteed and protected by government. Especially if paper money will be replaced by bitcoin, difficult to happen. Because not all countries accept bitcoin as a means of payment, especially countries on Asia and Africa.

Only the government can eliminate the circulation of paper money but I doubt if they can do it with the current situation of the world, there are plenty of people who lacks education and they would not easily understand the new technology as they are primarily focus on working of their basic needs.

These people will prefer to use a simple way in transaction and something that they are used to, that is paper money and the government cannot sacrifice this group of people just to change the current system and adopt with the new technology.

Education is not a problem here. There are a lot of old people where I live, that I think does not have any bank account. Their reitrement goes to the post office. The post office has the role of a bank. Well... almost. But if need comes the third party can do everything on the part of the uneducated people.

If Government will have a good PR and present the paper money as a crime based money, it is as good as dead. With the proper scare mongering, people will even thank them for being the good law enforcer, that put a good fight with the criminals.

[StarofBTC]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

What is your basis to say that it will be reduce? bitcoin users is not that big that will affect the circulation of paper money,
the future could be digital but paper money circulation is still bigger compared to digital currencies including crypto currencies.

Yes exactly. The BTC have limited users and even in the next decade it can’t be stated that due to the use of the BTC the paper money will get affected and the circulation of paper money will be reduced. It will surely reduce but not to that extent that it can be very visible. There are many people who prefer the cash and term it as the real currency.

[Theb]

Paper currency will last and it cannot be destroyed. But due to the progress in digital currencies, use of paper currency will get reduced to a large extent. 

What is your basis to say that it will be reduce? bitcoin users is not that big that will affect the circulation of paper money,
the future could be digital but paper money circulation is still bigger compared to digital currencies including crypto currencies.

Yes exactly. The BTC have limited users and even in the next decade it can’t be stated that due to the use of the BTC the paper money will get affected and the circulation of paper money will be reduced. It will surely reduce but not to that extent that it can be very visible. There are many people who prefer the cash and term it as the real currency.

It won't be reduced as it will be the same. You know why? Because Bitcoin and any other cryptocurrencies' price is is based on Fiat Currency. Which means without Fiat Bitcoin won't have any value to us people. Also another point is almost all investors are buying Bitcoin because they want to earn more money because of its growth and what I mean about money is Fiat currency.

[bitcoindusts]

I think the future of paper money were no change, because if this paper currency were left in the market they had a possibility that rotation of the money in the market were not become balance. Also, if the digital currency were known as primary currency they had a tendency that paper currency were die and dissolve in the industry.

But still it is very possible that paper money would be replaced by digital currency. Digital currency has a lot of advantage plus it can reduce the consumption of producing papers. It helps the environment plus it cant be steal easily when you someone stole your wallet to you. you can easily claim it with other devices and lock down the wallet you are using.

It is possible, since we are going to digital age, even some government are practicing a cashless society.  Once they see that cashless system is beneficial then we can say goodbye to paper money, and/or if blockchain technology is implemented in every country then paper money will become obsolete.

[kpcian]

In my opinion, the future of bitcoin will last longer. Because it has already established a strong influence of holding or keeping it. I don't think that there's no scope of replacement by virtual or any form of money.
So I don't have any questions about the future of paper money.

[sergio red]

I think the future of paper money will not face any enormous amount of challenge,  since paper money has been used as a most popular form of money so it'll last year after year.
It's very difficult to replace by another form of money.

[danherbias07]

Sure a lot of us wants a paperless transaction. Not just by receipt but also by our means of our payment.
There are countries with a lot of pick pockets and you can avoid a thief with a credit card or now there is this crypto thing where it could be at your cellphone or your laptop.
Paypal is one where you could use to shop online. Add this new one the bitcoin where you could also buy online with a few of the stores that are accepting it.
Paper money will be there but I guess there will be less people that will use it as a means of payment in the near future.

[sobsitesearch]

I think the future of paper money will not face any enormous amount of challenge,  since paper money has been used as a most popular form of money so it'll last year after year.
It's very difficult to replace by another form of money.

Agree with this, paper money was still available to used in the future and the value will remains the same and it will base on the economy of one country.
Other currency launch and it will only be an option by the people if they used it or be loyal in traditional currency in each country.