The future of the paper money

[Xenoph0bia]

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?

Even though bitcoin has reached eminence heights of success but still I do believe that paper money does have a future and will not diminish in the upcoming times because firstly, paper money is much more popular than bitcoin and because of which it has way more users than bitcoin of all the age groups. Secondly, paper money is stable and it’s price does not fluctuate often whereas bitcoin value fluctuate a lot. Then paper money does not require any internet connection to run unlike bitcoin.

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[carlisle1]

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?

Even though bitcoin has reached eminence heights of success but still I do believe that paper money does have a future and will not diminish in the upcoming times because firstly, paper money is much more popular than bitcoin and because of which it has way more users than bitcoin of all the age groups. Secondly, paper money is stable and it’s price does not fluctuate often whereas bitcoin value fluctuate a lot. Then paper money does not require any internet connection to run unlike bitcoin.

i support you mate,physical money will remain forever.maybe in the future the users will lessen but still money is money.theres no other way that virtual payments can diminish the physical..remember VIRTUAL OR CRYPTO CURRENCIES only works with ELECTRICITY OR ANY KIND OF POWER SUPPLY but if non.business is nothing.thats why i support physical money.

[sheldonnnn]

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.

For example, I almost do not use paper money in my daily life. It is much easier and quicker for me to use credit cards and electronic money. But the paper money will not disappear completely in the future. I think that it will still exist. But it will not be so widely used.

[Jafri101]

I think paper money will be destroyed in near future because electronic or virtual money can be used safely all around the world with no limit. So i would say paper money would be decreasing slowly.

[coolstory]

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.

I disagree with the people saying that the future of paper money is dark. I don't think so. Paper money will be in our lives and we'll keep using it everywhere just like we do today.

Bitcoin or other coins can't change this reality, if you were to ask me.

[noelwenceslao03]

Well, the future of paper money seems unforecastable. The total abolishment of paper money would seem improbable since there is no security on the asset you own. Paper money represents that your wealth may be tangible.

[Honest Tim]

 The future of any currency is not sure,  as changes and new revolution are coming. The only true disruption to money that we’ve seen in the Internet age came not from a Palo Alto garage but a list-serv for tech-savvy libertarians. Bitcoin, which spun out of the mind of the pseudonymous engineer Satoshi Nakamoto in 2008, is a cryptographically maintained currency with value imbued by the computers of its users, not a government mint. Theoretically, it is far more secure than credit cards. If you used Bitcoin to buy something at Target, say, and Target later got hacked (possible, as we have learned), you’d suffer no consequences. It’s like programmable cash. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

[OrangeII]

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.

I disagree with the people saying that the future of paper money is dark. I don't think so. Paper money will be in our lives and we'll keep using it everywhere just like we do today.

Bitcoin or other coins can't change this reality, if you were to ask me.

of course bitcoin can change that. well, but I do not know, I think that's very difficult indeed. paper money has been around for a long time, and of course it's reliable. different from bitcoin. Well, today the bitcoin prices are falling again, so the confidence in bitcoin is certainly declining for people who are new to it. so as long as bitcoin is unstable, I think bitcoin will still lose with paper money.

[vinz7229]

As long as Bitcoin don't get any support from what ever government, paper money will remain to it's standing, because paper money is supported by a government bank and it written in a constitutional law so no one could remove this kind of currency, and I think paper money is more convenient to use rather than Bitcoin, even though Bitcoin continue making it's own name in the market, you can never remove this kind of money.

[Sled]

As long as Bitcoin don't get any support from what ever government, paper money will remain to it's standing, because paper money is supported by a government bank and it written in a constitutional law so no one could remove this kind of currency, and I think paper money is more convenient to use rather than Bitcoin, even though Bitcoin continue making it's own name in the market, you can never remove this kind of money.

People money will not be going to be removed in the world because it doesn't matter that if there is bitcoin because they can just do a collaboration which they can work together and come up with a better kind of idea. Bitcoin and the dollar are still the same if we will talk about being a money but i believe that the future of the paper money will still good as well as bitcoin because they have the different purpose.

[spyerf]

I like paper money, easier to use in daily transactions because we do not always need a connection in transactions. But I also like bitcoin because its value is very big and make it easier to transact online. So I thought the paper money would be forever.

[canMERT]

I don't know if it's going to be bitcoin or another one but I'm sure paper money will be replaced with e-currencies.

[AleksBozhinov]

O.K. So we believe that Bitcoin is the future of money and not just a replacement for credit cards. But what does this really mean? Can the series of cause-and-effect be extrapolated beyond widespread user adoption? Absolutely! …

Adoption of Bitcoin as a stored value (that means as a currency) leads to the gradual realization among governments that Bitcoin presents no threat to sovereignty nor even to tax policy. Instead, it presents unbounded opportunity: The opportunity to stabilize markets, eliminate inflation, reduce costs and restore public trust. In short, Bitcoin will ultimately level the playing field, revive entire economies, transform the role of government, and save consumers and businesses billions of dollars each year.

[Kevondo]

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.

Yes the fiat will be use but not very much because the bitcoin value and the price will increase more and more but it is the time of the bitcoin and it is very important to use the bitcoin It is the demand of the bitcoin will grow as much as the bitcoin increasing more and more, I hope the bitcoin will help all the people the chance to grow more and this is the time to have the best future with the bitcoin.

[hashtag101]

As long as Bitcoin don't get any support from what ever government, paper money will remain to it's standing, because paper money is supported by a government bank and it written in a constitutional law so no one could remove this kind of currency, and I think paper money is more convenient to use rather than Bitcoin, even though Bitcoin continue making it's own name in the market, you can never remove this kind of money.

People money will not be going to be removed in the world because it doesn't matter that if there is bitcoin because they can just do a collaboration which they can work together and come up with a better kind of idea. Bitcoin and the dollar are still the same if we will talk about being a money but i believe that the future of the paper money will still good as well as bitcoin because they have the different purpose.

Yeah, the fact, the Japanese government has accepted Bitcoin but they don't use Bitcoin as the primary currency or payment system to replace FIAT. We can see this is an example for the future of Bitcoin in worldwide if the government of other countries also accept Bitcoin like Japan.

[Bitcoinislife09]

Paper money is the root and foundation why we have established economy in different countries. I really don't think that paper money will be permanently removed as it is the main thing we use on a daily life basis. Yes, undoubtingly bitcoin is getting more familiar and popular with other people but come to think of it that there are still people who doesn't have internet access because of factors in their environment and we don't blame them. Maybe we can say that digital currency will replace fiat but fiat currencues won't be completely gone.

[FrankGismo]

The future will be still there or maybe everything will go with cards and you can only pay with cards but that will only happen in country's which are high leveled because the poor countries are already having problems with actual cash.

[paparexon0414]

Paper money would still be in circulation. Unless if one country really uses high technology. But not totally banned. This is due to ones law, and even that country uses e-Currency, what if they visit other places that uses traditional paper money and still not open to othe type of money? I guess it would be in very long time this will be happening

[Tungsten-1]

I like paper money, easier to use in daily transactions because we do not always need a connection in transactions. But I also like bitcoin because its value is very big and make it easier to transact online. So I thought the paper money would be forever.

The money is being use by a lot of the people and the bitcoin is making the space for the more profit I am very sure the bitcoin is making the value able price of the bitcoin, I am the bitcoin user and I am not going to be the part of the money now it has a lot of the feature for the shopping and the bitcoin is being use by the people I hope the future of the bitcoin is bright and the it is the time we need to be the bitcoin users.

[Md.Sufian]

people are interested in trading online.In the era of information technology, people are not willing to deal with money. So there is no possibility of paper money in the future.