Does this mean Cash will be extinct?

[MFY151]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Well cash is bound to get obsolete anyway since the ever changing advancement in our daily lifestyle and technology. The creation of atm machines, debit card and credit card itself is like a prologue to a cashless society with all transactions made securely with a touch of a button. If ever by any chance internet improves so great and major services relies on it then I believe it would really happen.

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[radjie]

In a country there is the possibility of cash replaced with crypto money in the future. but not in the developing world, where some people live below the poverty line, which will have difficulty accessing crypto money. So in my opinion, cash will not go extinct.

[mrtryonebiggums]

Cool! Why not have cash be extinct in society? It literally serves no purpose other than fueling drugs, and other acts that only money is accepted for. Ask yourself what goods or services is money only accepted for AND isnt

illegal? Yah good luck coming up with more than 5 off the top of your head because it likely doesnt exist. This will further eliminate illegal activities and fuel the digital world of money, two solid pros if you ask me!

[Bakukang]

In some countries they introduce the cashless society.But i do not think that it can happen to third world countries.So paper money or I should say that cash can never be extinct.

[setupbounds]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

it takes a long time to get rid of cash and the process is also not easy, it must be supported by human resources and good banking technology, however cash payment will not be extinct, maybe cash payment can be another alternative if the digital connection is disconnected

People are using paper money and cash since centuries. Paper money is having a very much importance in lives of almost all of us. With the introduction of crypto currency, things have changed a lot but this does not certainly means that you are going to get rid of cash or you’ll be able to see a cashless society. Paper money will remain there and people will keep on using it.

[websoftwareengineer]

this is just bullshit, bitcoin is a digital currency, and paper money is the currency that is always used for the exchange of tools that is recognized throughout the world. besides bitcoin will not do any good if it can not be exchanged for paper money.

Right. Cash will not be extinct because digital money exist. It will be hard to anyone to adjust with the use of bitcoin. Not all enterprises specially small enterprises will accept this as a payment when a person buy a good that you have to pay for a small amount unless all product will increase the price. Beside to that the government for sure will not accept that manner because being decentralized of bitcoin, it does not need to pay any taxes.

Not every government is allowing bitcoin to circulate in their country and because of that  cash is still the main source of our income. Bitcoin is just introduced now a days and not everyone can earn bitcoin so i think that it was impossible for bitcoin to replace cash.

[KingdomHearts]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

We don't need 100% of the people on the internet to start moving toward cashless societies. Nobody said that this has to happen in an instant on a global scale.

100% cashless society is not possible in near future but a simple majority of world population in the next 20 years for bitcoin influence may be expected positively because people are taking interest in bitcoin. New generation believes in technology and is totally dependent on technology even countries power consideration is based on better technology and bitcoin is a technology based currency so how a man/society can ignore bitcoin in technology based era.

[zeaderza]

this is just bullshit, bitcoin is a digital currency, and paper money is the currency that is always used for the exchange of tools that is recognized throughout the world. besides bitcoin will not do any good if it can not be exchanged for paper money.

Like Fiat, bitcoin is not recognized worldwide yet but it doesn't mean that it won't be recognized in the future, also it can be used for exchange purpose. I think bitcoin can save our time and make the exchange purpose easy if it replaces the paper money.

Bitcoin can't replace the paper money totally but it can play an active part equally with paper money in the daily routine if people started using bitcoin in daily life as they use paper money for now

[Dheo]

Its very imposible to stop using cash, even though the crypto currency will be more popolar in that year its very imposible to stop using cash. What about those kids? They go to school and they also need money, so its obvious that they use cash and they can't use digital currency because they just a kids.

[NelfiNovita]

I think for the next few years bitcoin still can not become the world currency. at this time people are still many who do not know with bitcoin therefore takes time and process long enough to make bitcoin as world currency.

[Kiweikoo]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

it takes a long time to get rid of cash and the process is also not easy, it must be supported by human resources and good banking technology, however cash payment will not be extinct, maybe cash payment can be another alternative if the digital connection is disconnected

Yeah it is not very easy to get rid of the cash and to get in the bitcoin totally because a lot of the people are using the bitcoin and in the future the only currency will be the bitcoin not the other currency I hope the value and the price of the crypto is getting high and all the people will use the bitcoin for the betterment of the bitcoin I love the bitcoin and I hope all the people will buy the things with the bitcoin in the future.

[BTCMILLIONAIRE]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

We don't need 100% of the people on the internet to start moving toward cashless societies. Nobody said that this has to happen in an instant on a global scale.

100% cashless society is not possible in near future but a simple majority of world population in the next 20 years for bitcoin influence may be expected positively because people are taking interest in bitcoin. New generation believes in technology and is totally dependent on technology even countries power consideration is based on better technology and bitcoin is a technology based currency so how a man/society can ignore bitcoin in technology based era.

Cryptos in one form or another will definitely dominate the Economy in the coming decades. It's just simply inevitable since it's so vastly more efficient than any traditional money system that has been used so far.

[supercanada1]

I might get happen that cash might get extinct but for that government and people should start using e-wallets and it will take time to reache to every person. If crypto currency get legalised in all countries then yes this process will even take less time.

Absolutely, it has much solid chances to implement. Cashless society have many problems too but the profits are somehow more. But the reason it doesn’t seem like possible, bitcoin is not much famous now in every community. Only educated community that is oriented towards technology knows mostly about it. Others are just illiterate of it. Hopes for the best in future.

Yeah the price and the value of the bitcoin will increase more and more so all the people will use the bitcoin and they will buy the bitcoin as the currency and the future of the bitcoin will be better than this in the very short time all the people are paying through the bitcoin and the income of the bitcoin is higher than the other currencies and it is very easy to pay through the bitcoin at the same time.

[Papaczed]

Oh it will never happend that cash will extinct, cash is the basis in this world, while we are buying our wants and needs, cash is the number 1 need, and we need cash to survive in this society, if theres no cash theres no good future for your education, for our self, for our work etc, cash is part of history of all goverment so it will never happend that it will be extinct.

[CowboyKiller]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

We don't need 100% of the people on the internet to start moving toward cashless societies. Nobody said that this has to happen in an instant on a global scale.

100% cashless society is not possible in near future but a simple majority of world population in the next 20 years for bitcoin influence may be expected positively because people are taking interest in bitcoin. New generation believes in technology and is totally dependent on technology even countries power consideration is based on better technology and bitcoin is a technology based currency so how a man/society can ignore bitcoin in technology based era.

In my opinion, I think the world need to change the payment system to new system apply the blockchain technology from cryptocurrency. With this technology, the risk about hacking is impossible because all user will be the supporter to protect system.

[Eternu]

Oh it will never happend that cash will extinct, cash is the basis in this world, while we are buying our wants and needs, cash is the number 1 need, and we need cash to survive in this society, if theres no cash theres no good future for your education, for our self, for our work etc, cash is part of history of all goverment so it will never happend that it will be extinct.

Money as we know it, in cash form has already start dying. More and more people are using pay cars and credit cards for paying their daily needs. That means, that one day cash will be gone, everything will be done electronically. Also you are wrong when you say that society need cash (paper money). You don't need cash to survive, you can do that easily without it. Therefor, one day we will stop using cash, and I think that is good. Because everything will be faster and easier, also cleaner.

[BTCMILLIONAIRE]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

We don't need 100% of the people on the internet to start moving toward cashless societies. Nobody said that this has to happen in an instant on a global scale.

100% cashless society is not possible in near future but a simple majority of world population in the next 20 years for bitcoin influence may be expected positively because people are taking interest in bitcoin. New generation believes in technology and is totally dependent on technology even countries power consideration is based on better technology and bitcoin is a technology based currency so how a man/society can ignore bitcoin in technology based era.

In my opinion, I think the world need to change the payment system to new system apply the blockchain technology from cryptocurrency. With this technology, the risk about hacking is impossible because all user will be the supporter to protect system.

Hacking would still be possible and would still happen because people are very careless and would keep falling victim to phishing attacks. But it would be much harder to lose your money that way than through being robbed on the streets or via a "tweaked" ATM.

[Trela]

Oh it will never happend that cash will extinct, cash is the basis in this world, while we are buying our wants and needs, cash is the number 1 need, and we need cash to survive in this society, if theres no cash theres no good future for your education, for our self, for our work etc, cash is part of history of all goverment so it will never happend that it will be extinct.

Money as we know it, in cash form has already start dying. More and more people are using pay cars and credit cards for paying their daily needs. That means, that one day cash will be gone, everything will be done electronically. Also you are wrong when you say that society need cash (paper money). You don't need cash to survive, you can do that easily without it. Therefor, one day we will stop using cash, and I think that is good. Because everything will be faster and easier, also cleaner.

The paper money can disappear in future, but it does not mean the FIAT system will disappear with paper money. You must to know we still using the FIAT system of the government when we use credit card for paying. Therefore, unless Bitcoin replace FIAT and become the primary payment method, that is the end of FIAT and paper money.

[CarnagexD]

Cash will not be extinct and it will just stay here in our world because majority of the people here in our world are using cash and they still prefer cash because of the ease of using it. Even bitcoin is a great currency, it is not enough for the cash to be replaced and we all know that the government still prefer cash over the other type or form of money.

I cannot say or cannot look forward that cash will be extinct anytime soon. Because there are still countries, shops and transactions out there that will be needing cash as a payment so that yes cash is not possible to just get lost. And also there are people who don't know how to use bitcoin that is why cash will still be there payment for whatever.

[Afnan_faizah]

Cash will not be extinct and it will just stay here in our world because majority of the people here in our world are using cash and they still prefer cash because of the ease of using it. Even bitcoin is a great currency, it is not enough for the cash to be replaced and we all know that the government still prefer cash over the other type or form of money.

I cannot say or cannot look forward that cash will be extinct anytime soon. Because there are still countries, shops and transactions out there that will be needing cash as a payment so that yes cash is not possible to just get lost. And also there are people who don't know how to use bitcoin that is why cash will still be there payment for whatever.

Paper money will gradually disappear. Since there high growth rate of internet users and the credit card usage as new way of payment methode. It has imposed many limitations on traditional currency and exchange systems. But use credit card is not so practically, bitcoin come up with a lot of features that will help people to be more convenient and free to make any transaction. So there is high probability for bitcoin to make cash become extinct.