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Author Topic: The future of the paper money  (Read 416519 times)
awrinkleintime
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November 09, 2017, 10:00:33 PM
 #4601

I think the visio website should provide the choice to get visio cash for importing content.That would be a nice new function
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leyton11
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November 09, 2017, 10:03:46 PM
 #4602

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?

Bitcoin has gained a lot of popularity throughout the years since it had started. And along this journey it has gained users of not only younger age groups but also that if older age groups. But still I don’t think that bitcoin will able to replace paper money and i do believe that paper money has a future because firstly paper money is way more popular than bitcoin and because of which its way more in usage and has more users as compared to bitcoin. Secondly paper money does not require any money for transactions whereas bitcoin requires. Then bitcoin requires internet whereas paper money requires no internet.

So, I always think Bitcoin is the future money because before the world change to digital era, the current FIAT system still manage the world's economy and financial. Bitcoin is just a currency for payment online and trading asset.
Andrianla
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November 09, 2017, 10:07:07 PM
 #4603

If virtual money access is owned by every place then it is very possible to make paper money more abandoned. Because virtual money is easy and safe.
Sate Jamu
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November 09, 2017, 10:18:22 PM
 #4604

The more days the use of paper money continues to decline, 10 years ago people used a bag containing paper money to buy a house, car or other big thing, but now it's never seen again because it uses transfer banks. this is an indication that the use of paper money continues to drop and eventually disappear.

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Harrisonimo
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November 09, 2017, 10:40:50 PM
 #4605

Paper money/fiat will go into antics sooner or later. Change they say is inevitable and the limitations of fiat has been eradicated with the numerous opportunities the Cryptocurrency is bringing to the table. I do believe there are a lot being put in place to fight the Cryptocurrency from coming into full limelight. But at the moment, both are working hand in hand to meet our needs were its tendering is required. At the long run, the Cryptocurrency takes over with full dominance.
a4techer
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November 09, 2017, 11:45:49 PM
 #4606

If we are thinking about about the future of paper money i think we ignore it that money because cryptocurrency money was continuously knowing of each people and our future money was the digital money or the crypto money and for us it is that the easy way of money that we can use for our daily life so that paper money i think it can remove it into future.
harryxx
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November 10, 2017, 04:49:03 AM
 #4607

I think paper money soon will be in a Museums or will be a collector's item  it the next 5-10 years. Because as we see now paper money keeps on declining and crypto currency is keep on rising. And it's good that there is a digital currency because we can avoid being robbed in the streets, but I fear that we could be hack when the digital currency arrive.
sparveenat
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November 10, 2017, 04:53:21 AM
 #4608

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.

uzumaki
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November 10, 2017, 06:21:55 AM
 #4609

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?

Believes the use digital currency will grow significantly , some reasons for the increasing value of digital currency transactions are in terms of particality, improvement in security, lower transaction costs and incentives of service providers. Not only ease of money offered but other features such as credit payments , token electricity , pay tolls , pay in supermarket and mini markets. Paper money will increasingly replaced by digital currency.
Botnake
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November 10, 2017, 07:09:32 AM
 #4610

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.
I presume by saying max that means majority, for me, I think bitcoin will grow and will be more popular but basing on the population of the world
it's hard to get majority of them to adopt with bitcoin as for sure they will still prefer to use paper money due to the fact that their daily transaction
does not require them to transact online.
Anies_Sandi
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November 11, 2017, 04:35:26 PM
 #4611

We should be very practical not to just pass the comments Bitcoin the cryptocurrency is for sure going to be very big success in future as max people will know about it and every day life will use it. At the same time without internet we will be handicapped do to non access of internet first it has to be rectified. Till that the paper money will exist and in near future users will avoid using paper money for their convenience.
my opinion this paper money will still survive, although the users are few, but the paper money will still run, and will not be destroyed. because banknotes appear before any bitcoin and electronic money is currently being applied, but still people use paper money for payment instruments. so the conclusion that the paper money will not disappear, but will still be used and remembered.
mylyn2327
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November 12, 2017, 12:01:04 AM
 #4612

Paper money in the future i think it still exists, i dont think it will disappear even years from now. Although bitcoin crypto currency is continuously knowing by people and grow significantly. Paper money will still be used unless the gov't. Will provide a strong internet connection nationwide which is the no. 1 Thing to consider in using digital currency. And also it cannot disappear that easily because of the fact that we have everyday transaction which we doesn't need online transaction.
reisuke24
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November 12, 2017, 12:42:40 AM
 #4613

government cant banned paper money. you know if it happen, i think not all people will know about bitcoin and they will not use because they cant use it.
balance is need in this world, some people will know about something and some will dont know about it. and we fill knowledge each other.
tyronecoinbit
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November 12, 2017, 12:44:29 AM
 #4614

Paper money in the future i think it still exists, i dont think it will disappear even years from now. Although bitcoin crypto currency is continuously knowing by people and grow significantly. Paper money will still be used unless the gov't. Will provide a strong internet connection nationwide which is the no. 1 Thing to consider in using digital currency. And also it cannot disappear that easily because of the fact that we have everyday transaction which we doesn't need online transaction.

The future of paper money will still exists because it has a support from the Government and for sure the Government won't allow bitcoin to take over fiat. Maybe paper money in the future would be obsolete but it will never gone.  There are still a lot of people who doesn't know anything about digital currency especially those people who is living in the provinces. So they were the one who really uses fiat.
Emmaemir2020
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November 12, 2017, 01:06:05 AM
 #4615

Paper money will soon sank just like Titanic
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November 12, 2017, 01:58:41 AM
 #4616

Perhaps in the future paper money will be very few in number because replaced with electronic money but with the same value and more secure and practical in conducting transactions, it will also save the state budget because the cost of raw materials and production of money will be less.
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November 12, 2017, 08:58:02 AM
 #4617

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 the paper money will gradually disappear. Because now it's common for everyone who uses credit cards when you buy your likes. Most vendors accept credit cards. But most of those are rich, but if you think in the future everyone is wealthy and has a credit card each one? They do not need paper money anymore. But I did not say that it would be gone forever. We can not guarantee that it will happen at that time.
popoypalaboy03
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November 12, 2017, 09:39:00 AM
 #4618

I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare for some, they already are! At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money.
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November 12, 2017, 10:00:08 AM
 #4619

Paper money will be used less but will not go away. Money will be digitized more but security breach will draw people, especially government, back to paper money. Crypto will continue boom but need to get over the hurdle of regulation and security before it becomes accepted by mass market.
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November 12, 2017, 10:07:00 AM
 #4620

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 the paper money will gradually disappear. Because now it's common for everyone who uses credit cards when you buy your likes. Most vendors accept credit cards. But most of those are rich, but if you think in the future everyone is wealthy and has a credit card each one? They do not need paper money anymore. But I did not say that it would be gone forever. We can not guarantee that it will happen at that time.

You can only tell that if majority of the population in this world are using credit cards, the reality is only few are using it and majority of the people who are using credit are in a country whose economy are progressive. This will take time, the change of lifestyle of the people into living a convenient life depend on the status of the economy of a certain country and based on my knowledge, majority of the people are not earning well especially on developing or underdeveloped countries.

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