Does this mean Cash will be extinct?

[pogitayo]

It is hard to eliminate cash as well as being it to be extinct because it is how money started for. It is the root of all transactions

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[jahepahit]

with the rapidly growing bitcoin and altcoin in the community, did not rule out the extinction of cash money .. but all according to me depends on how the country see the workings of bitcoin ,,

[whyrqa]

with the rapidly growing bitcoin and altcoin in the community, did not rule out the extinction of cash money .. but all according to me depends on how the country see the workings of bitcoin ,,

I think that the Crypto currency is a currency for a certain Circle of people and for a certain sphere of human activity. I would not substitute real money for crypto currency, because this will create a certain amount of difficulties. For example, simple or Poor people will not be able to use crypto currency, because there is no knowledge or no possibilities.

[jvper]

with the rapidly growing bitcoin and altcoin in the community, did not rule out the extinction of cash money .. but all according to me depends on how the country see the workings of bitcoin ,,

I think that the Crypto currency is a currency for a certain Circle of people and for a certain sphere of human activity. I would not substitute real money for crypto currency, because this will create a certain amount of difficulties. For example, simple or Poor people will not be able to use crypto currency, because there is no knowledge or no possibilities.

This is very true. Paper is still used by the majority of people for many tasks that a computer could make it better, so why would crypto make cash extinct?

[Andrej Peiboski]

The Sweden model is a stalinist one: it means complete control about citizens' activities.
I think that the only way to defend ourselves from this kind of dictatorship is to go back to barter...

[Cryptophorus Columbus]

The swedish project is the first try of a totalitarian way to control any aspect of the citizen live.
I expect that it will start some movement of protest using just bitcoin and barter. We'll see.

[Bacotan Bae]

I think cash will never be extinct with the presence of bitcoin, the proof is the number of users is still a little and not all transactions must wait for confirmation up to 1 hour, I'm sure cash will last forever.

[Anco_Marzio]

I predict a big war in this sense: governments will try to take control of any transactions, with one of usual pretexts (terrorism, money laundring, so on)
But I don't think that they will control the blockchain, so - for smart people - there will be a way to freedom.

[Choperpun]

I think it could be if approved by the other countries, and it has rules to use it.

[Purno99]

cash until whenever will not be extinct because cash is a legitimate payment instrument in a country, therefore from this moment digital currency can not make cash extinct. cash can also be used in all people.

[sorin90]

I think that electonic money is the future money, so yes, in the notso far future cash could be extint in almost all the countries. I'm not sure that Sweden can do it, as early as 2023, but there is a small possibility. We shall see.

[Kiweikoo]

The measure to me is to make for less cash in circulation reducing cost of minting and making for ease of transactions all day. The rural areas how lack facilities will continue to use cash.

Use of cash will not be distinct. If someone just assume this to be true I think he must wake up and see the reality. Cash is so important for running an economical system. If this cash is replaced by bitcoins in future, then it is necessary to turn all the systems to bitcoins.

And every lay man must know about what is bitcoins and these coins are easily available for them, everywhere.

[Lupus Solitarius]

Probably in a far future we'll live in a cashless society.
But at present there is still a long way, as there are billions of people without bank account or cell phone.

[moneyangel]

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 a third world country I think it takes many years to adapt that system. If Sweden can make it, no doubt other countries will follow.

[mylyn2327]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

That is absolutely right, paper money means a lot to people. We are used of using it in our daily lives and in every transaction we are doing. Although cashless transaction is good but banning paper money will cause negative effects especially to those small businesses and for us simple people. Some countries are implementing it and most of their establishment are accepting cards but that probably will take a long run to get rid of paper money. And before it will happen there are still many factors to consider with.

[Cherylstar86]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

That is absolutely right, paper money means a lot to people. We are used of using it in our daily lives and in every transaction we are doing. Although cashless transaction is good but banning paper money will cause negative effects especially to those small businesses and for us simple people. Some countries are implementing it and most of their establishment are accepting cards but that probably will take a long run to get rid of paper money. And before it will happen there are still many factors to consider with.

I don't think cash will be extinct anytime soon. Though cryptocurrency and bitcoin in particular made a very legendary history when it comes to market value, it is likely very difficult to implement a cashless society. Not everyone are aware and knowledgeable what cryptocurrency is and not even all members of the society has gadgets or internet connection that are necessary in this kind of system.

[LedyVik]

No bitcoin does not even mean it, it's not yet known, it seems to me that cash will remain with my respect. Because in our time, cash is everything.

[rain3798]

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

Not all country will follow or maybe it will take more than 20 years to happen on not to use cash. There are so many studies to do, so many things to consider and too many things to think of what will be the effect of this to the country. It will not also be easy to stop the cash because everything is relying to cash.

[Kisanaq]

Cash and bitcoin will continue to exist because of the presence of bitcoin nonlan as a competitor to eliminate cash, it can both complement each other because many transactions that can not be done cash or bitcoin everything.

[AudriusBird]

I'm looking forward to cashless society