Do you think digital currency will ever replace paper money?

[nmax21]

Did the OP mean to ask "Do you think cryptocurrency will ever replace fiat?". Digital currency (ACH transfers, credit cards, debit cards, etc...) has already replaced paper and coin for most use cases.

But the paper money has not yet come out of circulation. And before that it is still far, because with them paper money can not be tracked and many use it.

[daarul50]

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?

What do you mean by digital currency if it's Bitcoin than I don't appreciate with that because of most of the countries didn't accept it and it also not to replace with paper money. we need both of it and Both things which is essential for us.

Yup. We do need both paper money or bitcoin. however, if bitcoin has to replace paper money one day I think that it will not happen because although paper currency has become an identity for a country so it is difficult to replace it with bitcoin which is now widely referred to as digital currency. We'd better make bitcoin as another option to invest digital assets and paper money as a measuring tool of value from a bitcoin.

[joshua05]

I dont think so, it will never replace paper money. Though bitcoin have been really successful, days and days would come, it will just pass without taking paper bills's asset.

[colvis]

Well with the way thing are going now in the society I say yes to that because we now very dependant on digital currency than that of our local money. In times coming it will be giving a room to overtake our present currency.

[dangwapo311]

Bitcoin will never replace paper money or fiat. Bitcoin was not created to replace paper money. For me bitcoin was created to as an alternative option if you don't want to use paper money or to go along hand in hand with paper money. Bitcoin was created to be free from any third party like the bank or government. Plus paper money has been used for many years already, and lets face it, bitcoin is not yet widely accepted around the world.

[cvcptit]

I do not think so. the reason is simple, why do we still need fiat because transactions using bitcoin are highly dependent on the internet.  when making payment there is no internet connection

[vvfvcxl]

It is unlikely that it is most likely to be just equivalent to paper money. It cannot be replaced. The present era cannot accept it. Therefore, at present, bitcoin technology is not enough to become a mainstream currency.

[pat231]

I think these articles will better serve the purpose

https://www.quora.com/Do-you-think-paper-money-will-be-replaced-by-crypto-currencies-in-time

http://www.independent.co.uk/news/business/news/digital-currency-bitcoin-wont-replace-paper-money-bank-of-japan-finance-banking-technology-a8069491.html

http://www.cashrepository.com/2017/04/myth-bitcoin-will-replace-cash/

[louis230191]

I don't think that's going to happen, because paper currency has been used for a long time.  digital currency don't replace paper money..

[And2816]

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[Spifo]

In our time, fiat and cryptocurrencies can only exist in conjunction with each other. There are places in the world where there is no Internet, where people do not have the opportunity to pay with cryptocurrencies.

[Rockyz]

I dont think it will replace paper money ever. People like in my country doesnt know bitcoin a lit. Like only 40% are actively joining in bitcoin but others they know what bitcoin is but they are not using any of it because they think it is too risky

[Zicadis]

I think with time we are going to do away with paper money completely as the change is slow and because of the many benefits that outweigh the use of paper money such as traceable transactions through a blockchain, costs are cut whenever we need money printed and many more advantages which am certain our financial regulators will be in support of.

[Cookies_N_Cream]

I don't think so, we will have both physical and digital currency in the future but not a replacement

Personally I agree to this. I know we are living in a fast paced environment and there will come a time that almost everything will be paid by digital currency but I think paper money will still exist. Remember that we still have the government and I am sure they will do everything under their power to keep our local money intact. Every country has debts to another country so I think they can't pay it just by using digital currencies because every country's central bank has the control over it. I think when it comes to financial issues, everything will have its complicated battle over something.

[woqu5]

I think that digital currency cannot replace banknotes. Banknotes are a must in life, and many people do not use digital currencies. This means that the development of digital currencies has not reached the point where they can replace banknotes.

[mifanmuzny]

The answer is yes, and to answer this we need to observe the history of money. Money appeared in when the first gold coins were created in Greece and it has this characteristics: is a medium of exchange, a unit of account, portable, durable, divisible, fungible, and the most important it is a store of value for long periods of time.
We can observe that gold, Bitcoin, and many cryptocurencies have got this property but paper money which is called fiat currency haven't got this one because it is constantly printed through the infinite.This cause the devaluation and the reduction of the purchasing power of the people. This caused that every Fiat currency in the whole history ended up worth nothing.(and now all currencies are Fiat) This is because Bitcoin and cryptocurencies will replace paper money sooner or later.

[Spanopohlo]

Well, It depends on a lot of things, First is the government of a certain country saying, Hes against This currency, thus banning it in their Place, another things is the banks, they would not sit idle while there are alot going on with This kind of currency. Last thing is the status of a country, lets say on our country the markets, stores and merchandises all pay with Fiat money, because they cant afford to have that kind of technology.

[Shubhamjuneja24]

Not properly but yes,  it will become a substitute of paper money. As we can see in some countries btc is accept as a money.  Similarly in future,  the same will be applicable in all the countries.

[Wylie330]

It's like credit card replace cash. Information age changed us in many ways. Those long lines of processing payment are now instant to us. Thanks to the digital world. So it may take years to become a totally cashless society, but I believe we will come to that.

[Tukang Becak]

Well with the way thing are going now in the society I say yes to that because we now very dependant on digital currency than that of our local money. In times coming it will be giving a room to overtake our present currency.

Many estimates say that digital money immediately replaces paper money, this is because digital money is more easily controlled by the central bank, but I think it takes a long time to socialize