Does this mean Cash will be extinct?

[eucliffe]

possibly, but i really doubt that cash will be extinct. nowadays everything works in instant so its possible that we adopt to that technology and make the the cash we use as a digital cash, less hassle, safe and secure just make sure its Blockchain based otherwise I'm not interested.

[1715227928]

1715227928

[jonatuzc]

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.

It was very impossible for everyone to move on virtual currency and government will not agree because they will be traceable and most of the governments are corrupted so they will be revealed if everyone will be mandatory to use virtual currency.

It is the need of the modern world to introduce digital currency in the system. As far as the government point is concerned , people are now very much aware about their government and governments also keep the fact in mind that we are being judged by the people  we govern , so if it happens somewhere that doesn’t mean everyone is doing this. This immorality is to be stopped one day and I hope that day comes soon.

[wuvdoll]

Cash will be never extinct while people use. I think after 100 years it would be possible but now not. Bitcoin is still weak it needs to grow to 50k at least.

So people will know that its strong and that its not a weak scam coin.

100 years may not really still be possible. Definitely, it could be possible in some places with no demand for cash and with access to technology but would definitely be slower in some places with lower infrastructure since you will have to pretty much be online to transact without cash.

So, all this put into place would make it not go into extinction anytime soon and even longer than 100 years in some countries.

[djsugar]

Cash will be never extinct while people use. I think after 100 years it would be possible but now not. Bitcoin is still weak it needs to grow to 50k at least.

So people will know that its strong and that its not a weak scam coin.

100 years may not really still be possible. Definitely, it could be possible in some places with no demand for cash and with access to technology but would definitely be slower in some places with lower infrastructure since you will have to pretty much be online to transact without cash.

So, all this put into place would make it not go into extinction anytime soon and even longer than 100 years in some countries.

Predicting a definite year is indeed tough. But 100 years are enough for cash to go extinct. Globally countries are shifting towards digital payment medium be it cryptocurrencies or not. But as you said it will require a complete digital connectivity. This might take time. But I believe 100 years from now, it is achievable in third world countries as well.

[ssuchy]

Cash will be never extinct while people use. I think after 100 years it would be possible but now not. Bitcoin is still weak it needs to grow to 50k at least.

So people will know that its strong and that its not a weak scam coin.

100 years may not really still be possible. Definitely, it could be possible in some places with no demand for cash and with access to technology but would definitely be slower in some places with lower infrastructure since you will have to pretty much be online to transact without cash.

So, all this put into place would make it not go into extinction anytime soon and even longer than 100 years in some countries.

before answering this question, you need to analyze how people are ready to switch to an alternative currency. How all this will happen and how easy it will be for the society to use crypto currency. First of all, everyone knows that this requires education and knowledge, as well as the availability of technology. How do you think all this will happen on the periphery?

[nathanielpogi]

we wont really know what will happen to bitcoin in the yearsto come but i think bitcoin will still continue to exist and cash too because people still need fiats it is one of the symbol their country has.

[McKane]

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

For me it will never make our world better, a cashless society is not an ideal thing when people are not all agree in uaing bitcoin for their entire life some of us will prefer having cash for transactions cause probably this is a way better than opening a gadget to pay for something, speaking of gadgets we cannot say bitcoin will make us more successful without a cash simply because how about the people who cannot afford buying gadgets are they going to live under our toes? We should consider every levels of our society.

Presently a days the bitcoins are utilized more than the money since every one of the general population realizes that the bitcoins is more protected and trust able than money this implies soon the money will be terminated in light of the fact that money isn't secure in light of the fact that the money could be effectively stolen however the bitcoins could be even touched by somebody that is the reason the clients of bitcoins are more than the clients of money and afterward the money will be wiped out.

[julzcoinbit]

we wont really know what will happen to bitcoin in the yearsto come but i think bitcoin will still continue to exist and cash too because people still need fiats it is one of the symbol their country has.

I agree, No cash or fiat money cannot become extinct at any cost. A large number of population in the world still uses cash in the day to day transactions. The only source of their earning is through cash only. Many people in the world still don't have accessibility to the internet and have not even heard about the cryptocurrencies especially in bitcoin. It s even legalized in some countries and there are many cases of fraud.

[Kim Domingo]

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

I think it is not totally that the cash will be extinct because admit it or not, there will be still a small number of the total population around the world that will still prefer to use fiat or real money rather than using cryptocurrencies such as bitcoin and the government cannot force them to do make those people use it as it was used by other people. Maybe the right term is the usage of cash will be lessen since cryptocurrencies will be widely used but I think it is a little bit far from now that almost all people around the world will be using cryptocurrencies.

[tenebriscaelum]

It is a possibility in the future perhaps a decade or two most of the first world countries will stop using fiat currency and also implement a protection system for users. The only problem right now is the support as of now most of the people still think that cryptocurrency is not secure nor it safe little do they know that it is much safer that the fiat currency right now all they need to know is the right knowledge about it.

[bakunawaaa]

I think if the technology would permit it then it would be very possible. The problem is reaching people that are not technologically literate as people from the city. Maybe in the first world countries it can be done right away. For countries such as China though where a huge part is still rural and many farm based individuals would probably not be easy to assimilate into this.

We also have to take into account the cost of implementing this. Not all citizens would be able to afford such a move even in first world countries I believe. Maybe in Europe or the nordic countries it would be much easier for them. So it might still take a while for this to happen. Id say 30 years or more.

[Wong Gendheng]

I think cash will never be extinct, many direct transactions that will continue to use cash and will not be possible using virtual money or bitcoin. Besides, I'm sure the government will continue to maintain the existence of cash.

[BTCMILLIONAIRE]

Cash will be never extinct while people use. I think after 100 years it would be possible but now not. Bitcoin is still weak it needs to grow to 50k at least.

So people will know that its strong and that its not a weak scam coin.

100 years may not really still be possible. Definitely, it could be possible in some places with no demand for cash and with access to technology but would definitely be slower in some places with lower infrastructure since you will have to pretty much be online to transact without cash.

So, all this put into place would make it not go into extinction anytime soon and even longer than 100 years in some countries.

Don't underestimate human progress. It keeps accelerating at incredible paces. It took less than two decades to go from wired overpriced phones and no internet to smart phones with high speed internet in almost every pocket. These smart phones are stronger than the super computers used to fly to the moon too!
And with human level AI on the horizon it progress will speed up even more once that breakthrough occurs, which only hinges on more computing power - which we will see in the next decades.

Money might be a thing of the past entirely in the next century the way things are progressing right now.

[yen10]

I don't think so. Yes it's good thing that cryptocurrency was develop, but it was not made to replace paper fiat or cash, instead it was develop to reinforce currency as we know it and to introduce alternative ways. Besides, not all people can readily accepts a society without cash. I also believe that it will create more problems than solutions if we totally extinct cash.

[BTCMILLIONAIRE]

I don't think so. Yes it's good thing that cryptocurrency was develop, but it was not made to replace paper fiat or cash, instead it was develop to reinforce currency as we know it and to introduce alternative ways. Besides, not all people can readily accepts a society without cash. I also believe that it will create more problems than solutions if we totally extinct cash.

Bitcoin was specifically created to replace fiat money due to the corruption that centralization promotes.

[appleffi]

Cash depends on the government of one's country. They are the one's who regulate the flow of the money within the premises of their country. Thus they are the only ones who can decide and the first one who knows that cash is already extinct.

[daniel08]

I do not think so , fiat money in most nations is important , they always need cash instead of cryptos. Maybe the rich people may not need cash in the future but most people needed only cash money.  Cashless society only means that , the rich will only be the one who can have money in the future . And i do not think that most of the countries government accepts this kind of cashless society.

[denny27]

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

yes of course if indeed all countries follow suit seems there is a possibility of cash will be extinct and replaced by digital currency.
But still, it's not really certain yet if other countries will follow that planning / contemplating effort by Sweden. because surely there are still many are considering if it would be to do, and certainly not everyone in this world wloud thinking same, there must be a lot of people who sometimes veer from a plan that will be decided.

[AbyssLagiaz]

Not yet for now at least. Everyone still uses cash basically. If everyone can learn more about Bitcoin and it catches their interest then everyone might use it and it might cause extinction but I don't see it happening.

[burnchan]

to face out all fiat money on one country is not necessary, how about those anyone or anybody that who cant afford to buy gadgets and provide a internet connection, how do they live. i mean how do they make transaction on the physical market to buy or sell goods just to live? this idea is non sense. fiat money is important too and i think more country not to follow if that happens.

Eliminating cash would need a thorough study on what will be the impact to the economy. There will be no issues For the upper class or the wealthy ones. However, this will be a big issue particulary on the lower class community. It would be a 360 degrees adjustment if online transactions will be fully implemented since it will incur investment. Where would these people get an budget for the gadgets and monthly internet connection payment? It will be an additional burden for them. Thus, i am hesitant that cash will be elimated for now.