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Question: Will digital currency ever replace paper money?
Yes - 206 (51.6%)
No - 193 (48.4%)
Total Voters: 399

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Author Topic: Do you think digital currency will ever replace paper money?  (Read 10865 times)
Deborah Christine
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January 21, 2018, 11:15:28 AM
 #961

I dont think so. Digital currency will not replace paper money because
1. Bitcoin has no underlying and not centralized. 2. In addition, Bitcoin does not have a deposit and credit mechanism like a conventional currency.
3. In terms of function, Bitcoin can only fulfill some functions of currency that is as a means of payment.
4. Bitcoin as a means of exchange and paying equipment such as gold, diamonds, banknotes, stocks, commodities whose value is a general consensus of acceptance and public trust.
5. Bitcoin exchange rate changes over time and fluctuates. In the future Bitcoin will remain one of the alternative currencies
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January 21, 2018, 11:22:59 AM
 #962

Nope. Many people in other parts of the world are very poor. Some don't even have money in the bank nor access to internet connection. However, it seems to be possible in First World countries.

We would always be divided by the fact that there are places where Internet is not used at all. There are places where there are no mobiles at all and people have chosen to remain primitive. This is not questionable at all since there are tribes that really respect their beliefs and even with the modern world outside of their tribe, they will choose to continue to be like that. It's not as if they have no idea of what's going on in this world, it's just that they love their traditional ways so much that they don't want to change it at all. They are passing the tradition from generation to another and so on with hopes that the tribe will continue to live for long.

I think the question here only applies to the part of the world where it is developing in technology. Like, in the cities and towns where innovation is actually embraced. It's possible for a country to change its culture about the payment method that they are using but it's also possible for other countries to NOT be able to change it even though they would want to. This is why digital currencies will be used so much in other places, seldom in some places, and not at all at some places. Which means digital currency will never replace paper money, at least not in our lifetime.
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January 21, 2018, 11:27:34 AM
 #963

I don't think so, digital currency will replace paper money, many country will never allow digital currency to operate in their country, they don't believe in it, they believe any digital come with huge security    risk.
As of now, we cannot say that bitcoin can easily replace or ever replace the paper money because if we will look at the governments in different countries, we can say that they are not welcoming the cryptocurrencies right now, maybe because they didn't fully understand what are the purposes of the cryptocurrencies so i think that the cryptos still need a lot of time before talking about replacing the paper money.

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January 21, 2018, 11:29:55 AM
 #964

Who knows, it might. But i don't thonk that's gonna be on the short or even medium term. In my opinion thats soon gonna be a complementary monetary system to fiat that will allow us to avoid the exchange rate. The universal currency that you ise when you travel.

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January 21, 2018, 11:33:03 AM
 #965

No, but both will go hand-in-hand

my opinion is different from you, in my opinion digital currency will become global currency in the future. everyone will use digital currency as a means of payment. I believe this will happen because the users of digital money at this time are increasing from year to year.

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January 21, 2018, 11:35:27 AM
 #966

One day, it will be real yes.

World will have only one currency and it will be digital money.

Why are you pretty sure about that will happen in future?
I think we can not know about it will happen or not because its very unpredictable. For me bitcoin will never change paper money.
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January 21, 2018, 11:41:22 AM
 #967

Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.

What do you guys think? Wink


In my opinion , I think it is still possible for digital currencies to replace paper money in the future because we are already in a digital world where everything depends in the power of technology. However, it will be easier for bigger and countries with advanced technology to make it possible. It only takes time and needs to consider a lot of things.

 
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January 21, 2018, 11:43:14 AM
 #968

It is not crazy at all to assume that our current financial system will soon be replaced by cryptocurrency, and this change will bring major changes to the global economy.
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January 21, 2018, 11:43:28 AM
 #969

I wanted to remove the paper money and all switched to electronic money.Although it has some countries like Japan and south korea that accepted the importance of bitcoin in their industry still bitcoin find it hard to accept in any countries.
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January 21, 2018, 11:50:02 AM
 #970


I believe this is possible as means in paying various goods, things, and even properties. But I would say, this should not replace physical money.
In addition, risk is high for theft of your digital money.
But then again, it is very efficient in a fast-paced transaction with the advent of technology.
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January 21, 2018, 11:54:34 AM
 #971

Yes I think. Just look from the past. Before fridge are invented, we get our ice from icy place like North and South Poles, Antartica etc.. Artificial Ice (those that comes from refrigerators)  are considered dangerous and hazardous to health during that time. They though that ice that grows from metal using chemical that cools water are risking our health. But overtime, society accept the artificial ice until today! I can relate this analogy to the cryptocurrencies. Maybe society are still scared because they don't what it can do. But overtime, people will accept bitcoin bit by bit.

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January 21, 2018, 11:56:26 AM
Merited by lucy1215 (4), ammo121810 (2)
 #972

Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.

What do you guys think? Wink

I think with the current situation now it would take a long period of time before bitcoin or crypto currency will replace the fiat system. Most of the people around the world do still use the fiat or the so called paper money. Crypto currency could only replace if only everyone around the world adopt the crypto currency and implemented in each every country. It would still take a long time before it might happen.

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January 21, 2018, 11:58:58 AM
 #973

I think it will be like that someday.
But that will be at least another 20 years if not longer.

Many people and especially the "important" institution (banks, stock exchanges, companies, etc.) are very dependent on your money

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January 21, 2018, 11:59:49 AM
 #974

Even for me Also major part of expense goes through electric currency or digital currency now cryptocurrency currency become integral part of my life .
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January 21, 2018, 12:03:17 PM
 #975

It all depends on the governments. I am sure that crypto's utulity is so big that eventually people could abandon fiat currencies. But it would also significantly downgrade governments importance and that's something that politicians cannot agree with.

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January 21, 2018, 12:12:53 PM
 #976


I believe this is possible as means in paying various goods, things, and even properties. But I would say, this should not replace physical money.
In addition, risk is high for theft of your digital money.
But then again, it is very efficient in a fast-paced transaction with the advent of technology.

Yes it could be possible but not so soon.  The world is not yet ready for cashless transactions.  It would kind of hard especially when buying small things like pieces of candies.  Small business will be affected by this thing if it happened.  But as I said it would take too long because not all part of the world have access of electricity.
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January 21, 2018, 12:39:09 PM
 #977

I think it will be like that someday.
But that will be at least another 20 years if not longer.

Many people and especially the "important" institution (banks, stock exchanges, companies, etc.) are very dependent on your money


There's a big possibility that digital currency will replace paper money. In the near future, the world could be more high in technology that could possibly mean that digital currency will occur and little by little, as time goes by, can replace paper money.

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January 21, 2018, 12:44:47 PM
 #978

Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.

What do you guys think? Wink

I do think that eventually all money will be electronic. It's getting there already with payment methods like credit cards, debit cards, PayPal, etc. Most spending I do is with a credit card, then I use my bank's billpay system to make payments on the credit cards. So I don't use cash unless it's a small purchase.

I think everyone will gradually move away from cash to some kind of digital fiat. It's hard to say what that will look like in the future, but I think it will happen.
No need for the future, now my country's electronic money has been used more than paper money, non-cash forms of payment, instead they use bank cards to transfer money in the bar math
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January 21, 2018, 12:56:53 PM
 #979

Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.

What do you guys think? Wink
I don't think digital currency will replace paper money because there are still people who are now computer literate because we know that we can't enter digital world if we do not know how to use a computer. Many people of other country are poor and can't even eat 3 meals a day.

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January 21, 2018, 01:07:41 PM
 #980

Not a fucking chance , i don't want the store keep me at there place when simply i just buy a bread till they got at least 1 confirmation for the transaction. It sucks.

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