The future of the paper money

[gekon]

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.

Maybe true, but nowadays governments are starting to review bitcoin and discovering its future contribution to each country for a governments has a strong why not to stop it and I rhink it may help paper money to raise it value as well since bitcoin may help economic status of each country.

If the speed of using Bitcoin is spreading out like this. 50 years more , paper money will disappear.

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[micher143]

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.

There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.

[whaawh]

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.

There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.

It seems to me that Bitcoin is definitely doomed to keeping users and investing in it. We have already made sure that Bitcoin is very good investment today and thanks to this, the popularity of crypto currency is growing. On Fiat will remain as always a means of payment and I think that many people agree that it is better to take a piece of paper and pay for your goods than wait for the financial transaction to take place.

[batang_bitcoin]

I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.

Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.

[TrueCryptonaire]

I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.

Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.

This is only for a matter of time that you are preferring paper money instead of e-money or cards. Once the government masters the blockchain technology then there would be only blockchain based currency in every country where everyone will be using their smartphones to pay for coffee or to buy movie tickets. Even there was a news a while ago that Russia is thinking of implementing blockchain technology based currency in the country and also that some of the Indian banks are using blockchain technology to keep track of intra Bank transactions.

[Reez]

The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.

[sukamasoto]

The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.

Bitcoin and fiat are different currency so it won't affect each other except if government start to make regulation about bitcoin.
My country still forbid bitcoin so the chance to get legalize still small so fiat still be the lead and still popular rather than bitcoin

[batang_bitcoin]

I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.

Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.

This is only for a matter of time that you are preferring paper money instead of e-money or cards. Once the government masters the blockchain technology then there would be only blockchain based currency in every country where everyone will be using their smartphones to pay for coffee or to buy movie tickets. Even there was a news a while ago that Russia is thinking of implementing blockchain technology based currency in the country and also that some of the Indian banks are using blockchain technology to keep track of intra Bank transactions.

I'm also hearing and reading news about big tech companies are starting to get into blockchain technology and if that happens for sure there will be a lot of changes in terms financing. I also watched a lot of videos that about scanning qr codes and they are already paid. In China there is a store that doesn't receive cash, instead it is receiving alipay which is their very own payment method from alibaba.

[icecream sandwich]

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 do not thinknthat paper money will be banned, instead they will not be used anymore or it will be phased out in our society. Bitcoins are the one who will replace that thing, or when the government knows how to work with the blockchains maybe they will create their own cryptocurrency in their own country. Because it is more convenient than paper money. We will now pay our bills using our phones by scanning codes. And that will be less hassle on bringing some cash or credit cards because phone are always in your hands and so does your money.

[shata]

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.

There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.

I guess nowadays bitcoin and fiat were compatible to each other,  but it's not possible to eliminate cash type of transactions due to some method of spending still uses it specially when there's no internet at local markets. When time comes it's legally used for all races there will be proper development between fiat cash to be an option for physical holding and bitcoin as a digital holdings served as a storage of funds convertible to cash at all exchanges, same applied with other crypto currencies.

[hahay]

The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.

I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country.

[Finestream]

The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.

I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country.

If there is a financial crisis then for sure the value will of paper money will drop and that is the time where smart people will be buying bitcoins to save their money worth. However, only few people will do that since most of the people are not really focus on monitoring the status of the economy, ordinary people just work, earn, and spend, so they need paper money to do it.

[filharvey]

         Paper money could not be completely banned.Even in most developed countries like US,paper money is still used even when most of money transactions are digitalized.There are people belonging to older generation and also illiterate people in under developed countries who know only the paper currency.
         They don't own even a debit card or credit card.They are comfortable only with using the paper money which they could feel it in their hands.

          So,we could surely expect paper money to be used continuously.

[Jake052478]

Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency.   Their curiosity leads them to know more about the new trend in business.  So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...

[Nissan-GTR]

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.

As of now governments were starting to do a review regarding this system how can they use this to improve their own country , which means they are open for the possibilities and potentials of bitcoin but I will stand in the fact that paper money will still run in different nation since we cannot force every people to use bitcoin for their daily lives and it also has limitation in which oayment will take a bit long when bitcoin is the currency in the sense that that we will open the gadget , connect to a wifi so on, unlike in paper money you will just give and goodbye.

[BillCoin]

The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.

I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country.

If there is a financial crisis then for sure the value will of paper money will drop and that is the time where smart people will be buying bitcoins to save their money worth. However, only few people will do that since most of the people are not really focus on monitoring the status of the economy, ordinary people just work, earn, and spend, so they need paper money to do it.

If the money of paper money drops, also the money that you have in your bank is going to drop.
Don't forget that paper money represents money, and also your money in your bank represents money.
The OP talked about paper money and if it could be replaced in the future.

I think it does, soon enough you won't need anything beside your smartphone in order to pay for something and it will be much easier then carrying paper money with you.

[Mirardowyn]

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.

There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.

It seems to me that Bitcoin is definitely doomed to keeping users and investing in it. We have already made sure that Bitcoin is very good investment today and thanks to this, the popularity of crypto currency is growing. On Fiat will remain as always a means of payment and I think that many people agree that it is better to take a piece of paper and pay for your goods than wait for the financial transaction to take place.

Paper money could not be completely banned.Even in most developed countries like US,paper money is still used even when most of money transactions are digitized. There are people belonging to older generation and also illiterate people in under developed countries who know only the paper currency.

[Wingo]

You cannot remove the current system and it is somehow hard to live with just digital currency. People cannot buy something without internet. Many people just use bitcoin for investment, they change it back to fiat whenever they will use it to buy something.

[Mr.Stemafon]

Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency.   Their curiosity leads them to know more about the new trend in business.  So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...

Yes i agree paper money will fall, because now more people are now using their credit cards in stead of their paper money even more people are using bitcoins to buy things.

Eventually in a few years paper money will be gone. Everyone will use credit cards and bitcoins.

[Sled]

Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency.   Their curiosity leads them to know more about the new trend in business.  So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...

Yes i agree paper money will fall, because now more people are now using their credit cards in stead of their paper money even more people are using bitcoins to buy things.

Eventually in a few years paper money will be gone. Everyone will use credit cards and bitcoins.

Paper money is unstoppable since it is backed up by the government and the government is the one who is controlling the paper moneys and who is ordering people in different branches of government to continue printing and that is why there is inflation but if you will have a good financial education you can fight the inflation by doing investment and using other types of payment like bitcoin.