The future of the paper money

[Ipwich]

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.

Whether we like it or not it will not be eliminated in the circulation, more people will get the benefits when paper money is will
still be in circulation and the government always listen to the voice of the majority and to their benefits.
We can see bitcoin progress and other digital currencies but paper money will remain.

[1713976027]

1713976027

[1713976027]

1713976027

[1713976027]

1713976027

[1713976027]

1713976027

[Valzzz005]

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?

Paper money will not be banned why would it be. They sre just going to be phased out. Like an old car replacing a new one. And that new one is the digital currency, cryptocurrency or should I say bitcoins. Because I know that in the future we will use more of our technology that will come to the point that our money is also a digital which cannot be seen, cannot be hold but it is there. It is more convenient than paper money that is hassle to vring with. But there are always be disadvantages in moving into digital currency.

[Text]

All people will prefer to use bitcoin over fiat money when it is accessible even offline but for now it is not possible. Paper money will not disappear easily and yeah some people tend to use now credit/debit cards but what if there is a calamity and ATM machine is not availabe due to massive power breakdown so we still always need paper money on our side especially for emergency purposes.

[gabZ25]

I think paper money will definitely end someday and it would be replaced by different  online currency  like bitcoin and others which can be used like a paper money

[AmiranAbdul]

I think paper money will definitely end someday and it would be replaced by different  online currency  like bitcoin and others which can be used like a paper money

Paper money can not end as there can be disruptions with the Internet and some alternative for calculation will be needed. In the event of a malfunction or a catastrophe with electronic money, people will be left with nothing.

[tu1000]

I think paper money will not go away. Everyone is not connected to the Internet, and some people can not be connected.

[salihno71]

In general it would be a bad thing if paper money would disappear completely. If you want to be anonymous, pay with bills and you're fine. Some people will never give up this. Especially now with all the surveillance and monitoring.

[Turan100]

the paper money doesn't exist in the middle age , there's only the coins of gold , and they will disappear for good while the technologie keep developing , but the chains will never disappear

[Sir Legend]

The future of paper money will continue to exist because the real currency is fully protected by the state, although the use of digital money is increasingly massive but it will never aim to replace paper money.

[ButtCrack]

the paper money doesn't exist in the middle age , there's only the coins of gold , and they will disappear for good while the technologie keep developing , but the chains will never disappear

What the hell? Gold never disappear, only FIAT or cryptocurrecies will disappear in someday, but I am sure Gold never affect by that. Gold is an asset very rare from the beggining of the world, it proves its value never decreases after long time.

[J. Cooper]

The future of paper money will continue to exist because the real currency is fully protected by the state, although the use of digital money is increasingly massive but it will never aim to replace paper money.

I wouldn't be too sure of that. Things can change dramatically quickly if the change gets going. If at some point the bigger public decides it's more convenient to use crypto rather than fizt/banks people will change to crypto or another cm sort of currency.

[kaizen96]

My opinion is that future of paper money isn't so bright, but it's impoosible to disapearr, cause then bank sistem would be distroyed, and they will not allow that. Provisions, tracking a money flow are reasons for paper money surviving, and influence in real world. But, who knows..

[zergenyt09]

In every decades in the world, from the very start of the world their are different transactions that created by different people. They start transactions through exhanging products, then through gold, silver, bronze, after that through money. Their are evolution of transactions from the old times until now. So, I believe that if all nations accept bitcoin in their own countries then that will be the way that bitcoin will become the main currency of the world. Their is big tendency that paper money will remove soon.

Crypto currencies are the future of paper money because of their unique concept and design. People from all over the globe believe in crypto currencies because they are more secure and exponentially growing than any of the physical currency. Secondly they are easier to access from any part of the world.

[micleeiu398]

I think that paper money will never disappear. No government will want to completely switch to the digital currency, as this will bring chaos to the economy of the country. Now the material value in each country is determined by the annual gross income and gold stock. Proceeding from this, the country's economy is being built, a certain amount of paper money is printed. What to build an economy, if you switch to a digital currency?

I think paper money is very likely to disappear, what can replace paper money is digital money, digital money is certainly easier to control because the government has full access compared to paper money.

The government would not make a decision that would not be the benefit of the majority or all the people, if paper money will be totally eliminated in the circulation that means there are great infrastructures improvement in different part of the world. The main thing that is needed is to educate and give internet in all areas of this world so people can easily transact wherever they are, although it's possible but it's not going to be fast process for adoption.

No I don’t think so that paper money will be disappeared from the world with the establishment of digital money because a lot people are still not aware about the crypto currencies and their uses. Secondly it is very difficult for the older people to cop up with the modern technology and digital currency.

[winterland]

you can't imagine the world without paper money, it is impossible to ban paper money for ever. do you know how many people are using plastic money and card?
I think this number is very small in comparison to the whole population. and virtual currency also being used by the small number of people. most of the people are feeling comfortable to keep or use paper money still now. regarding paper money, only security is the problem in order to carry out, but for me, still, there is nothing to be a replacement for paper money. so it will last for ever.

Most money now is in electronic form than in cash form about 7% of all the money of the world is in the form of cash the rest are just a bunch of numbers on the databases of banks and governments so I think we are closer to the elimination of cash as a form of money than what you imagine.

The form of money is slowly evolving and it is from being a physical cash to a virtual cash like paypal or mobile wallet and i think that in the near future we can see bitcoins or other form of cryptocurrencies that are being used in different transactions like paying things up and get different services with just the use of cryptocurrency.

This is why bitcoin has such a bright future, bitcoin does not need to create the demand for online payments the demand is already there many people in the first world already know how to send payments online so the only thing bitcoin needs to do is to convince people to use it.

One might believe that bitcoin will have a strong future, this is normal, but when you say paper money will be replaced by bitcoin, this is just not meaningful. Paper money will survive till the end of the world.

Will paper money disappear completely? Probably not, but look around just look at my previous posts that you quoted, most money is already in electronic form and not in the form of cash that is a reality so to me it is very obvious that paper money is losing the battle and that in the future there is going to be even less paper money.

[sampalokmix]

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.

I think so, and we should accept the fact that it also has its limitation, in simple transaction like buyinh ice cream, are you going to use bitcoin? Paper money has its own contribution to the society it shortened the time of transaction and I think it will be used whether we like or not, it also symbolizes the identity of each country so why they are going to change it?

[futuret]

The future of paper money will continue to exist because the real currency is fully protected by the state, although the use of digital money is increasingly massive but it will never aim to replace paper money.

It is true at the old time long ago bitcoin was not there at that time the gold coin were being use by the people, then the paper money come when it was a bit developed era and than people start using the paper money and it was famous but then in 2009 the time changed it is the digital world where everything is on internet so I think it is the time for the crypto currencies to take the whole floor.

[Altero]

I think paper money will definitely end someday and it would be replaced by different  online currency  like bitcoin and others which can be used like a paper money

Definitely not, paper money would still remain even if digital currencies over power by it. Because even that, they're still using paper money for their daily transactions. The only problem with bitcoin is that, it is virtual currency and it could run only if you have internet connection. So definitely, in the areas with no internet probably they used their local currency.

[marcbitcoins]

I think paper money will not go away. Everyone is not connected to the Internet, and some people can not be connected.

Indeed paper money will not be replace by bitcoin because it has already build a strong foundation to the people that it was the most convenient way to use for any kinds of transactions that even children know how to use. Money will last forever as it is already long established by all nations.

[Maslate]

I think paper money will not go away. Everyone is not connected to the Internet, and some people can not be connected.

Indeed paper money will not be replaced by bitcoin because it has already build a strong foundation to the people that it was the most convenient way to use for any kinds of transactions that even children know how to use. Money will last forever as it is already long established by all nations.

For sure, there is no reason why paper money should be eliminated in the circulation, it gives majority of the people an ease to transact.
Although digital money is getting more popular now but this two could exist and will share the demand.