The future of the paper money

[altcointalk14]

In the future all will gonna be digital, and it is pretty bad for paper money.
But not now because still a lot of people who are not that intellectual to using digital thing even many poor countries still do not have internet access.

It is really very much difficult to comment on this thing right now. The most important thing which will count the most in this aspect will be the recognition of the crypto currencies as legal currency.

If there comes a time that all the crypto currencies which are there in the present world gets legal, then there are chances that use of paper money will be greatly reduced. The modern world will switch over digital money.

Paper money loses its value quickly because of the possibility for central banks to print paper without having to  coverage something. This makes people spend the "bad" paper money and save the "good" bitcoin.Under this scheme, paper money diminishes

[1715158633]

1715158633

[1715158633]

1715158633

[1715158633]

1715158633

[suvo05]

When we are all concern about the misuse of bitcoin by terror funding, the paper money itself have a great problem and the problem is fake notes, though technology have grown so much, but there are lots of country where fake currency is a big problem. And this fake currency not only destroys economy is also used for many illegal work like terror funding. This is the major draw back of paper money.
Still I think paper money will not vanish totally as it is the simplest to use and no internet or electricity need. But it is obvious that  the use of paper money will decrease gradually.

[ororch]

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?

If you ask people who actually print the money, does not care about their prospect of a cashless future, they answer: not at all. "In truth, looking at a steady increase in cash turnover, we do not expect that cash will disappear in the near future - and even not the closest," says Eric Ziegler of Crane Currency's design and manufacturing company.

[ghecarpuugi]

I think bitcoin will not replace my paper money entirely but it will go along with paper money since there is no regulation with cryptocureency which makes it invalid for a money to represent country’s money.

[santali]

The future of simple cash remains on its own, because paper money is still the main currency, the ruble, the dollar, and they will keep their seats for the time being.

[Joshapat]

The future of paper money faces a tough challenge in the present era, and it seems like it's just a matter of time not to take paper money disappear and I'm sure it will not take 50 years from now.

[Apaxy]

When we are all concern about the misuse of bitcoin by terror funding, the paper money itself have a great problem and the problem is fake notes, though technology have grown so much, but there are lots of country where fake currency is a big problem. And this fake currency not only destroys economy is also used for many illegal work like terror funding. This is the major draw back of paper money.
Still I think paper money will not vanish totally as it is the simplest to use and no internet or electricity need. But it is obvious that  the use of paper money will decrease gradually.

The same problem is with the crypto currency. I think that the crypto currency is more attractive to criminals and terrorists, because its activities are anonymous, rather than paper money. So I think that for illegal activities it is the crypto currency that can be more pleasant, so the government will do everything to make strong control over the crypto currency.

[taka19911202]

I think paper money won't be banned. We will use both in the future.

[Mike0222]

paper money for me is nice.. but now a days they used ATM or card to buy thing.. one swipe is all it has then you pay your bills.. we also have electronic cash payments.. soon paper money or bills will soon be gone.. we have to used swipe card in the future..

[sangalangdavid]

paper money for me is nice.. but now a days they used ATM or card to buy thing.. one swipe is all it has then you pay your bills.. we also have electronic cash payments.. soon paper money or bills will soon be gone.. we have to used swipe card in the future..

I think paper money will lose its value because of the rise of Cryptocurrency. As long as the people are keep on patronizing cryptocurrency, it's not impossible for cryptocurrency to make paper money lose its value.

[BiiT MAster 666]

I do not know if the paper money will completely disappear.
If so, so much time is needed.

[nwahshearthiad]

I don't think paper money will be completely gone for the next 10 to 20 years, it will last longer than what we expect knowing our society, they won't just sit around and do nothing if there is a threat on things that they used to having control with.

[UNOE]

In the future all will gonna be digital, and it is pretty bad for paper money.
But not now because still a lot of people who are not that intellectual to using digital thing even many poor countries still do not have internet access.

It is really very much difficult to comment on this thing right now. The most important thing which will count the most in this aspect will be the recognition of the crypto currencies as legal currency.

If there comes a time that all the crypto currencies which are there in the present world gets legal, then there are chances that use of paper money will be greatly reduced. The modern world will switch over digital money.

Crypto currencies aren't illegal, tho they are yet not acknowledged to be a legit currency, but some states are doing necessary steps to make it more available...take Croatia for example, they implemented some BTC atm-s back in the day. I doubt they are now in use hahahah but they exist

With more countries accepting crypto currencies, and the more technology advances we could see a dissapearance of paper money, but I think paper money will still hold itself for a long long time

[Sanitough]

I don't think paper money will be completely gone for the next 10 to 20 years, it will last longer than what we expect knowing our society, they won't just sit around and do nothing if there is a threat on things that they used to having control with.

That's true, paper money will stay and that would be good for all of us as we have different options to transact
and choose what gives us the ease. Bitcoin or cryptocurrency will be popular but it cannot replace the popularity of paper money in the world.

[shamefaced]

I'm sure that the future of paper money will not be shutdown by the digital money . Because they work beside with each others.

[TheKeyLongThumbI]

Paper money will still exist here but I know digital currencies will dominate the financial business in the future. I can compare it to mobile phones where most people now use smartphones but there are still who use mobile phones with keypads.

[samsvef]

Paper money will still exist here but I know digital currencies will dominate the financial business in the future. I can compare it to mobile phones where most people now use smartphones but there are still who use mobile phones with keypads.

It don't work that way. How do you say about the Vertu? It's a keypad cellphones and it's high valuable.

[explosion]

It's seems like some companies are doing some steps forward to cashless society. I believe that in the nearest future we will be able to pay with crypto just in the way we do it with the credit cards... For example, I'm amazed by the idea of FuzeX project - you just store your crypto accounts on the card and make your payments easily! I think such solutions will move paper money to the side. But maybe it's a matter of a country?

[JollySkipper]

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 get replaced by tokens because will be more profitable and more practical for people and business. Token economy will come sooner that most people think because the underground technology will be available in 2018

[_Legendary_]

The future of paper money is increasingly difficult to maintain, digital money pressure coupled with cryptocurrency will make paper money continue to be abandoned so that people will make paper money will not survive.