Does this mean Cash will be extinct?

[katrimans]

Is that a legit news?
 2023 is not that far from now. Anyway if that is true, I think it will really a good start of virtual transaction in everything that will going to purchase, and it will surely support the bicoin or crypto currency if so. If Sweden will gonna start a no paper transaction if some countries can see the advantages then they will going to have it, and establish a no paper transaction, which we are hoping because crypto will surely be one pf transaction option then

Sweden is going to set the trend of the virtual money and this will be awesome and other countries will also adopt it if there is benefit in digital system in my thinking bitcoin system will be implemented soon because people wants to get rid of cash and they want a unique currency accepted all over the world, this will be revolutionary thing and will change the economic condition of countries also.

[Bestwishes745]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

[BTCMILLIONAIRE]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

[twthmoses]

Sweden is going to set the trend of the virtual money and this will be awesome and other countries will also adopt it if there is benefit in digital system in my thinking bitcoin system will be implemented soon because people wants to get rid of cash and they want a unique currency accepted all over the world, this will be revolutionary thing and will change the economic condition of countries also.

Bitcoins (or any altcoin) is not going to replace cash, because they are completely unsuited for it. You need instant transaction / confirmation and zero or close to zero fee. You can’t wait for a block to be mined before your transaction goes though!, even if it only takes a minute.  New coins that want to take on cash needs a whole other ballgame of thinking. Block chain technology is completely unsuited to rival cash in transactions speed and ease.

You already got a well working digital delivering system for cash, its called credit card or Mobil pay. That is what the article is talking about. What the article is talking about is already happening and has been for the last 10 years is all Nordic countries. Cash (as paper) will be gone by 95% within 10 years in all those countries for sure. Personally I have not used a cash coin in any transaction for 6 month, have not used a bill for 2 month in any transaction.

Credit card, wireless credit card and Mobil pay is everywhere in these countries, and I do mean everywhere. It is nearly impossible to find a place where you cannot pay with one or more of these options. Scary as it might seem, at least in Denmark, ATM’s are rapid disappearing from the streets, they are not needed anymore. 8 out of 10 banks do not take cash anymore, nor can you get cash from banks.

[ramsdaj28]

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

Sweden is a developed country, and there's no surprise they're going to go cashless and use e-money in the near future. There's also no surprise if other big and developed countries will follow that. But I don't think ALL countries or MOST countries will follow that trend, considering that only few countries are developed and most are still in the developing stage.

In general, extinction of cash doesn't seem to happen right now and in the coming centuries. Not all people can afford to have the high-tech gadgets or cards which can be used to make transactions without cash. Just imagine children who want to buy candy in the store using a mobile phone or card.

[jhonjhon]

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

Sweden is a developed country, and there's no surprise they're going to go cashless and use e-money in the near future. There's also no surprise if other big and developed countries will follow that. But I don't think ALL countries or MOST countries will follow that trend, considering that only few countries are developed and most are still in the developing stage.

In general, extinction of cash doesn't seem to happen right now and in the coming centuries. Not all people can afford to have the high-tech gadgets or cards which can be used to make transactions without cash. Just imagine children who want to buy candy in the store using a mobile phone or card.

I agree with you, even though bitcion is being tough now but in my own observation many people are still prefered of using fiat currency. Anyway, we have freedom to choice either fiat or digital currency to used since isn't mandatory by the government.

[qwertyup23]

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

Sweden is a developed country, and there's no surprise they're going to go cashless and use e-money in the near future. There's also no surprise if other big and developed countries will follow that. But I don't think ALL countries or MOST countries will follow that trend, considering that only few countries are developed and most are still in the developing stage.

In general, extinction of cash doesn't seem to happen right now and in the coming centuries. Not all people can afford to have the high-tech gadgets or cards which can be used to make transactions without cash. Just imagine children who want to buy candy in the store using a mobile phone or card.

I agree with you, even though bitcion is being tough now but in my own observation many people are still prefered of using fiat currency. Anyway, we have freedom to choice either fiat or digital currency to used since isn't mandatory by the government.

Sweden is regarded as country on the developed stage, which means that their technological and economic standards are higher compared than most of the countries around the world. Due to this reason, they have all the means on developing revolutionary methods of payment through the use of virtual currency.

Like what you guys said, every country has their own economic standing and those who are still on the "developing stage" cannot adapt the payment system via virtual currency due to having lack of technological advancements and different priorities to consider. Cash cannot become extinct YET since countries who are on the far side of the straw would cause chaos in the world market, and economy.

[ipanks]

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

Sweden is a developed country, and there's no surprise they're going to go cashless and use e-money in the near future. There's also no surprise if other big and developed countries will follow that. But I don't think ALL countries or MOST countries will follow that trend, considering that only few countries are developed and most are still in the developing stage.

In general, extinction of cash doesn't seem to happen right now and in the coming centuries. Not all people can afford to have the high-tech gadgets or cards which can be used to make transactions without cash. Just imagine children who want to buy candy in the store using a mobile phone or card.

I agree with you, even though bitcion is being tough now but in my own observation many people are still prefered of using fiat currency. Anyway, we have freedom to choice either fiat or digital currency to used since isn't mandatory by the government.

i am glad that people have more option to how they can make money and they can earn money from bitcoin and although bitcoin is not yet used in real life but people still can do many things to make money from bitcoin. people is prefer for use fiat currency is because bitcoin is not yet legalized in every country and they still trust in fiat but we can do other things to earn money which is for doing something else from bitcoin.

[jpoker272727]

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 don't think cash will be totally extinct in coming future because cash is the primary way to exchange credits from large amount of time and many people have adapted to it so the will not leave the use of cash very easily it will take very large time to do this. But cash and digital currency can work hand in hand in all aspects very easily so i think that most of the transaction in coming future will be online or will be done with the help of digital money.

Digital money in growing as we can see the high price of bitcoin now. By looking at this we can say that digital money has a very great future but we cannot say that it will totally replace digital money in coming future.

[Hamstead]

In relevant with the adoption of new technology, we can say that cash is over powered by digital currency in some aspects but then is not enough to wipe out fiat currency into nothing. Stability of bitcoin price in the market is the only thing that bitcoin don't have a chance to become  globally used and defeated fiat money.

[Yadstiker]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

Well i don't know this but i think that it will also be a huge change if fiats will be totally eliminated in the society, but firstly maybe its too impossible also for now to depend only in bitcoin, and expecting as early as possible that fiats will be removed or be eliminated in the economy.

[BTCMILLIONAIRE]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

Well i don't know this but i think that it will also be a huge change if fiats will be totally eliminated in the society, but firstly maybe its too impossible also for now to depend only in bitcoin, and expecting as early as possible that fiats will be removed or be eliminated in the economy.

I'm pretty sure that fiat will stay around for a long time. But cash should disappear much earlier than fiat currencies (if they ever disappear). Cash is expensive (to create) and inconvenient (to use). Even digital fiat is a big upgrade despite its vastly higher costs than blockchain equivalents.

[Sled]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

Well i don't know this but i think that it will also be a huge change if fiats will be totally eliminated in the society, but firstly maybe its too impossible also for now to depend only in bitcoin, and expecting as early as possible that fiats will be removed or be eliminated in the economy.

I'm pretty sure that fiat will stay around for a long time. But cash should disappear much earlier than fiat currencies (if they ever disappear). Cash is expensive (to create) and inconvenient (to use). Even digital fiat is a big upgrade despite its vastly higher costs than blockchain equivalents.

I don't think that you understand what is the thread all about. Cash and fiat is the same and they are just different with the spelling or the term used in this thread and i believe that even there will be a lot of years to pass, cash will not be extinct and that is why it is better to just have both cryptocurrencies and fiat/cash because it is not a loser's move but a wise man move.

[majdoso]

Maybe one day , when digital world conquers the real one , cash will be extinct. It’ll happen when the internet takes over all other power and trading becomes only digital . But for now , i believe it’s both difficult and hard to be achieved

[merchantofzeny]

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

The Nordic nations tend to be first at implementing such schemes so I think it would take  5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.

I think it would be impossible to eliminate paper money fiat simply because it is the norm and you really can't eliminate a thing that had been there for ages. As far as I can remember, paper money fiat has a value that of Gold for it to have an actual value on its own. On the other hand, it will be a great help especially in the trading of goods because it can be done electronically. Thanks to bitcoin. Exchanging goods will be effortless. But it does not mean that Cash will totally be obsolete.

Don't underestimate the state. I rarely use cash that much anymore with all these credit and debit cards. I still use cash... mostly just to pay the bills since we have a small business. Had I been a regular employee, I'd probably just have my salary sent to my account and pay my bills from there. We are slowly getting there, so the more we need wider bitcoin acceptance.

[yanlap]

In relevant with the adoption of new technology, we can say that cash is over powered by digital currency in some aspects but then is not enough to wipe out fiat currency into nothing. Stability of bitcoin price in the market is the only thing that bitcoin don't have a chance to become  globally used and defeated fiat money.

It is the time to hold the bitcoin now because I am making the good profit from the money that I have, as you said many people are still using the cash and they are not getting into the bitcoin or the crypto currency but for them I would like to say they should once try then they will find the bitcoin very relax and the easy source of the buying the goods as compare to the cash.

[BTCMILLIONAIRE]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.

Just the kind of thing I was expecting someone to say. You see, most of us don’t really understand what Bitcoin is all about, cause they lack understanding.

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

Well i don't know this but i think that it will also be a huge change if fiats will be totally eliminated in the society, but firstly maybe its too impossible also for now to depend only in bitcoin, and expecting as early as possible that fiats will be removed or be eliminated in the economy.

I'm pretty sure that fiat will stay around for a long time. But cash should disappear much earlier than fiat currencies (if they ever disappear). Cash is expensive (to create) and inconvenient (to use). Even digital fiat is a big upgrade despite its vastly higher costs than blockchain equivalents.

I don't think that you understand what is the thread all about. Cash and fiat is the same and they are just different with the spelling or the term used in this thread and i believe that even there will be a lot of years to pass, cash will not be extinct and that is why it is better to just have both cryptocurrencies and fiat/cash because it is not a loser's move but a wise man move.

Cash and fiat is not the same. A Bitcoin physical coin is cash, but not fiat. If fiat money was meant by the OP, he should've used that term. Cash going extinct can happen with fiat remaining, in which case people would just pay everything with credit or debit cards.

[jaysabi]

Actually cash is not the problem, but the financial system behind it, because governments can substitute paper money with credit or debit cards, checks, promissory notes or any other instrument, but that does not clean the corrupt and false capitalist banking system behind it.

Credit and debit cards, along with checks and promissory notes, are not substitutes for cash, because they are based on cash. The government can't just swap them out because the government issues cash, and all those other instruments you mentioned are privately issued and directly based on cash. If you got rid of cash and instituted bitcoin as the primary method of exchange, that would do nothing to fix the ails of society, so you've got a point there that it isn't cash. However, capitalism is innate to human nature. People are capitalistic even without cash. Complaining that there are greedy, corrupt or selfish people is about as logical as complaining that there are people. You can't separate everyone's self-interest from themselves to achieve a non-capitalistic utopia. People have tried to institute such systems (by force, because that's the only way they work) and they are invariably more evil and destructive than our capitalist system.

[BTCMILLIONAIRE]

Actually cash is not the problem, but the financial system behind it, because governments can substitute paper money with credit or debit cards, checks, promissory notes or any other instrument, but that does not clean the corrupt and false capitalist banking system behind it.

Credit and debit cards, along with checks and promissory notes, are not substitutes for cash, because they are based on cash. The government can't just swap them out because the government issues cash, and all those other instruments you mentioned are privately issued and directly based on cash. If you got rid of cash and instituted bitcoin as the primary method of exchange, that would do nothing to fix the ails of society, so you've got a point there that it isn't cash. However, capitalism is innate to human nature. People are capitalistic even without cash. Complaining that there are greedy, corrupt or selfish people is about as logical as complaining that there are people. You can't separate everyone's self-interest from themselves to achieve a non-capitalistic utopia. People have tried to institute such systems (by force, because that's the only way they work) and they are invariably more evil and destructive than our capitalist system.

Cards are based on fiat money, not on cash... Cash is physical money, which doesn't necessarily have to be fiat currency. Gold coins used to be cash, but were not fiat money.

[perfect999]

In relevant with the adoption of new technology, we can say that cash is over powered by digital currency in some aspects but then is not enough to wipe out fiat currency into nothing. Stability of bitcoin price in the market is the only thing that bitcoin don't have a chance to become  globally used and defeated fiat money.

It is right that cash getting influence rather in the market but it is difficult that due to cryptocurrency fiat will eliminate completely because mostly world population is not more educated to utilize bitcoin. Knowledge of computer and internet to utilize bitcoin is necessary and most important.

Although cryptocurrency cannot eliminate fiat completely but bitcoin will definitely give tough time to fiat in the market in future because educated people are moving towards cryptocurrency willingly.