The future of the paper money

[Joshua101101]

Paper money will remain. Perhaps their number will decrease, but they will also be used mainly for small purchases.

[BitcoinzB]

Paper money will remain. Perhaps their number will decrease, but they will also be used mainly for small purchases.

The number of paper money will increase as every country keeps printing more with the economy system advancing and growing.
But that doesn't mean there won't be an open spot for other type of currencies to exist alongside, not until the market isn't saturated

[deisik]

I don't think paper money is facing any competition from Bitcoin as government is not interested in circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Absolutely, the government has the power to freeze the exchange sites to stop the circulation of bitcoin, without exchanges bitcoin is nothing and if it will be declared as illegal there is nothing we can do. Paper money will remain as it is the most simplest form of currency where we do not need to go online to spend, majority if not all the people can benefit with paper money but with bitcoin it's only a little portion and not even the poor people

Some governments have already tried that but miserably failed

The Chinese Central bank tried something to that tune, even twice but Bitcoin only rallied further and higher. "Freezing" exchanges would likely mean stopping Internet at large (to be effective), but that would be prohibitively expensive for obvious reasons. Otherwise, how are you going to stop something which might not even have physical presence? There are no offices to get raided, there are no bank accounts to get blocked, so how are you going to halt the exchanges? Some countries block access to exchange sites, but there are free VPN's and proxies to easily render all these efforts futile and void

[Fatanut]

I don't think paper money is facing any competition from Bitcoin as government is not interested in circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Absolutely, the government has the power to freeze the exchange sites to stop the circulation of bitcoin, without exchanges bitcoin is nothing and if it will be declared as illegal there is nothing we can do. Paper money will remain as it is the most simplest form of currency where we do not need to go online to spend, majority if not all the people can benefit with paper money but with bitcoin it's only a little portion and not even the poor people

Some governments have already tried that but miserably failed

The Chinese Central bank tried something to that tune, even twice but Bitcoin only rallied further and higher. "Freezing" exchanges would likely mean stopping Internet at large (to be effective), but that would be prohibitively expensive for obvious reasons. Otherwise, how are you going to stop something which might not even have physical presence? There are no offices to get raided, there are no bank accounts to get blocked, so how are you going to halt the exchanges? Some countries block access to exchange sites, but there are free VPN's and proxies to easily render all these efforts futile and void

Although impossible, if they (hypothetically) have stopped all these exchanges, people would just have to meetup to buy/sell bitcoins. We basically just have to take one step backward until somebody else makes another concept about exchanges. There might even be trusted people on Facebook that would buy and sell bitcoins with just some transaction fees. This is an opportunity to people that have a lot of bitcoins or has a supplier of bitcoins in exchange to fiat (simply the guy will be a "reseller").

It would be such a dumb move for the government to fund this when there are other problems like starvation going on in most countries.

[deisik]

I don't think paper money is facing any competition from Bitcoin as government is not interested in circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Absolutely, the government has the power to freeze the exchange sites to stop the circulation of bitcoin, without exchanges bitcoin is nothing and if it will be declared as illegal there is nothing we can do. Paper money will remain as it is the most simplest form of currency where we do not need to go online to spend, majority if not all the people can benefit with paper money but with bitcoin it's only a little portion and not even the poor people

Some governments have already tried that but miserably failed

The Chinese Central bank tried something to that tune, even twice but Bitcoin only rallied further and higher. "Freezing" exchanges would likely mean stopping Internet at large (to be effective), but that would be prohibitively expensive for obvious reasons. Otherwise, how are you going to stop something which might not even have physical presence? There are no offices to get raided, there are no bank accounts to get blocked, so how are you going to halt the exchanges? Some countries block access to exchange sites, but there are free VPN's and proxies to easily render all these efforts futile and void

Although impossible, if they (hypothetically) have stopped all these exchanges, people would just have to meetup to buy/sell bitcoins. We basically just have to take one step backward until somebody else makes another concept about exchanges. There might even be trusted people on Facebook that would buy and sell bitcoins with just some transaction fees. This is an opportunity to people that have a lot of bitcoins or has a supplier of bitcoins in exchange to fiat (simply the guy will be a "reseller")

That would in fact work in Bitcoin's favor in the long term

How so? First, banning all Bitcoin exchanges would give a strong boost to off-chain transactions (like Lightning Network and similar approaches) since that would allow creation of truly decentralized instant exchanges, thus making centralized exchanges unnecessary. Indeed, these exchanges wouldn't help much with converting crypto into fiat, but that's where things get really interesting. Without being able to exchange their coins into fiat, people will be tempted to spend them directly, i.e. buy goods and pay for services with Bitcoin. But where there is demand, there will always be supply, and merchants will finally start accepting Bitcoin for real. That may give rise to a real, closed loop Bitcoin economy

[Rinder]

 Paper money need to follow the market, and banks are already offering digital services, soo i dont believe on the next 50 years printed fiat will be around with the same power, i mean it can still be printed money but people will use credit and debit cards to process all.

Bitcoin does have already a marketplace, even knowing the most people does exchange their coins into fiat in the end, would be good to see countries blocking the exchanges, with that we will make all transactions with others people, without the exchange fees. Governments cant stop anymore bitcoin, they can ban anything, people will find a way to get and trade bitcoins even without exchanges wich does allow us to trade with more safety.

[fujyo86]

Paper money will continue to diminish its use in future. Because government itself through banks has brought innovation credit card or other cards. Making payments without paper money has occurred in many countries around the world, and thats a fact.

[Blue Jack]

the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.

[Fatanut]

Paper money will continue to diminish its use in future. Because government itself through banks has brought innovation credit card or other cards. Making payments without paper money has occurred in many countries around the world, and thats a fact.

And all those digital credits should have a paper money equivalence otherwise then that means the government are just adding numbers to the digital world and poooof! The only way for us to find out the truth behind that is to withdraw all of our funds in the bank. I doubt that there's really that much paper money out there.

the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.

Actually, in the process of paper money, they don't use that much trees to create them. There's far more trees getting cut illegally and for commercial use compared to the amount of trees cut for making paper money.

[gabmen]

the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.

That problem is easily resolved as there are many other options that can be used for producing paper money so i don't think that would be an issue.  Its the value of paper money that is in question though most of us think here that paper money would endure whatever challenges it face in the future.

[Wandika]

the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.

That problem is easily resolved as there are many other options that can be used for producing paper money so i don't think that would be an issue.  Its the value of paper money that is in question though most of us think here that paper money would endure whatever challenges it face in the future.

paper maoney will always have a value it represent one country history and their government will not allow to lose it. Bitcoin can be only a big help to us user bit will not changed the way we use paper money.

[Kompodd]

Paper money will exist, because you need a backup option for a global catastrophe or breakdown of the Internet.

[arcanayou]

Paper money will only burden the state budget, the cost to make paper money is very expensive, in order to reduce the use of paper money, many state governments are calling for the use of debit or credit card, as well as not complicated in transactions, also safe from robbery, I think paper money in The future of its use will decrease

[BCTBF]

the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.

That problem is easily resolved as there are many other options that can be used for producing paper money so i don't think that would be an issue.  Its the value of paper money that is in question though most of us think here that paper money would endure whatever challenges it face in the future.

paper maoney will always have a value it represent one country history and their government will not allow to lose it. Bitcoin can be only a big help to us user bit will not changed the way we use paper money.

I estimate the paper money will be fine and remain for the future, if talking about paper and trees as the main ingredient I think money will not go extinct, if you want to reduce the use of paper to keep the trees, better reduce the making of books and newspapers first and switch to using the Internet as an alternative to books and newspapers. So the existence of paper money will remain and will be fine.

[Ziskinberg]

Paper money will only burden the state budget, the cost to make paper money is very expensive, in order to reduce the use of paper money, many state governments are calling for the use of debit or credit card, as well as not complicated in transactions, also safe from robbery, I think paper money in The future of its use will decrease

That's not costly to the government because they collecting taxes from us, also they cannot sacrifice the safety over anything else because with paper money they can control it and supervise banks to ensure they are operating based on the standard the government has set.
We can choose between decentralized and centralized monetary system but I am sure in the end it is the centralized system will win.

[lisa255]

Paper money will only burden the state budget, the cost to make paper money is very expensive, in order to reduce the use of paper money, many state governments are calling for the use of debit or credit card, as well as not complicated in transactions, also safe from robbery, I think paper money in The future of its use will decrease

The government has long been trying to combat the use of paper money. This kind of money is supported by crime. Complete anonymity when using them makes the government powerless in the fight against bandits. That is why in the future the use of such money will be significantly reduced

[stevano]

The period of paper money began to be threatened by coin coins, I still like the paper money. Bitcoin will turn it all into a very valuable coin coin.

[ActiveP]

In my opinion the world is heading towards cashless societies, it is getting easier in almost every country to send and receive money for different things. Online banking, debit and credit cards, mobile money, payment platform like skrill and PayPal, bitcoins and it's many alts.

Some people in the financial sector have expressed their wish that cash disappears and all transactions are made using electronic money. At the same, many people are trusting less and less the banks. Some people even don't save their money in bank accounts but other places like a safe in their home.

Cash will stay for a while yet, but it's influence and use will decrease with time.

[megynacuna]

Paper money will continue to diminish its use in future. Because government itself through banks has brought innovation credit card or other cards. Making payments without paper money has occurred in many countries around the world, and thats a fact.

Exactly, digital currencies are taking over as governments around the world seem to be implementing the cashless society policy. I strongly believe the fiats are going to substituted by Bitcoin or any form of digital currency but i can't tell if it will be possible in the near future.

[merchantofzeny]

If you meant paper money as in the physical bill, it's slowly on the path to being irrelevant. I mean, even in my third world country I don't carry as much cash as before. It's far easier to just swipe a card.

Now if you meant paper money as in the money the government prints out, don't get hopes to high. They might stop printing money but they'd probably just digitize their fiat currency. It's their instrument of control. They're not letting go of it easily.

Actually they might be the ones to push for stopping printing cash. With every economic transaction being handled by bank, they'll have more control of people's finances than ever before.