Does this mean Cash will be extinct?

[DevilSlayer]

Of course no! It is very impossible ! Cash will never extinct in our world. Many people are still prefer to use fiat currency than cryptocurrency. Cash has very important role in our world. So it is very impossible that the cash will be extinct.

[stepwilli]

Cash will never be extinct since everyone is exchanging bitcoins for fiat. A lot of people here in this forum are earning bitcoins to sustain their basic needs and the excess money will be saving to hold and expecting that in the next years the value of bitcoin will massively increase.

That is the point. Many people think, when they see bitcoin, as such coming out of the box and within nine years it is amazingly spreading over world, that it will be moving all around the globe and then there are countries without cash. No that will not be happening. Reason is you can’t live with cash until all your smallest and biggest systems of your countries are turned digital.

[fishbonez11]

Unless each and everyone in the world holds a device and has internet connection, cash will not be extinct. Except when the country's government is so brutal not to think for their poor or homeless, then maybe yes. If bitcoin will be more commonly used than cash in the future, I think that bitcoin will just be commonplace, while cash be available but of little value and availability. It's like cash will be the last method one can use to pay.

[Eugenar]

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

That's still their decision but I highly doubt that other country will do the same. Regular currency has a huge function for countries and it played a huge role for decades that's why there are different kinds of currencies. So I think it is impossible for it to be extinct and be replaced by digital currency in the future.

[manismanja]

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

yes cash will be replaced by bitcoin because cash is very inefficient, because paper money or cash is made from paper while bitcoin is a digital currency that is more efficient and does not require a lot of paper.

[BUK2016]

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 time will come when there will be a society or country that will completely do away with cash, that is to say, they operate on a cashless economy. 2023 cashless society by Sweden is not obtainable because there are so many things that need to be put in place before such a policy could actually work effectively of which Sweden is yet to achieve about 20% of it.

[jc89]

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 country like Sweden maybe it's effective and a good thing to go cashless especially if they are aiming for minimizing robberies. I just hope that their tech security is very effective if they plan to eliminate cash. If other countries will follow Sweden's move I don't think cash will be extinct. I'm just wondering about those people who have no means to have cards or mobile payment methods. And also, how will they negotiate with other countries that will prefer cash rather than cashless transactions.

[BTCMILLIONAIRE]

I dont see why not I mean physical cash is only about 2% of our currency. And you can probably guess what industry or what individuals have the most amount of that currency. I think in the country I am in it averages out

to 2k a person currency in real life. Now I know I dont have more than $100 ever and most people are the same so yeah like I said it is basically illegal and underground money. This isnt the reason it will get phased out

but when you already have 98% of the funds being digital then how much of a step is to go from 98% to 100%? It aint much I tell you that and I can see the transition happening very smoothly and very soon as well.

It's not happening smoothly, there's a lot of resistance to it for weird irrational reasons. But I'm pretty sure that it will happen soon just like you've said.

[giga_999]

Cash will extinct definitely, but when and how long it will take its kind of difficult to predict. mostly ash extinction will start from advanced and developed countries such as Sweden and after a century, my guessing cash won't be available in other countries too.

[tmawheba]

One country did means not all the country going to accept same as it is but this change has to come in the world as technology play the big role on it. Very few years I mean 5 to 10 years lot of changes going to take place based on cryptocurrency usage as that time maximum no. of people aware the benefit and users will be in huge amount. Nothing going to happen it will not change in overnight so we have wait till it happen.

[Minionnn]

Bitcoins are growing and popular in the world, many people want it but not because of its development that paper money is extinct. Money is very important to people, bitcoin only replace the money in some areas, but not completely replaced.

[diouf67]

I think eventually cash will be replaced by something digital, it will probably be some biometric system which is linked to a bank account.

[Sasuke102001]

MAybe yes or maybe no it is kinda difficult to say whether cash can go extinct or not, but as Sweden taking a step towards it kinda hints of low usage of cash and not cash going extinct. Many nations still use cash as a major form of currency. So what I think is that the usage of cash will be lowered down and not cash going extinct.

[Pretty Boy]

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 is not impossible but still other countries are still studying and looking out for crytocurrency to make sure that they will benefit from it or if it will be bad for their countries.

[MyIdeas]

If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.

It doesn't take many years to do that. Toddlers are literally growing up with super computers (smartphones) in their hands these days.

We have to wait for some more time in order to see what will happen. At present, there is absolutely no doubt in this thing that bitcoin and all other crypto currencies are getting more fame with each passing day. But you can’t deny the fact that paper money has its own importance and there is no way that we can underestimate the importance of paper money. Cash will remain in this world.

Fiat and paper money are different things. Paper money is garbage, annoying to use, and wastes a tremendous amount of resources for nothing. Fiat can stay for all I care, but cash needs to go.

Fiat is a different business than paper money but I want all of these to go and one day they definitely will. By watching the present progress of digital currencies, one day the whole world population will get aware of these coins and say good bye to old fashion money method. It will take a long time for this to happen but I am not very much worried about it. Everything keeps on evolving and now traditional money ways are going to be changed.

[nambunamba]

yes it's from a lomg time a go goverment trying to make thwir citizen cashless by using help such as creditcard dll. i thw future i believe rhere is much morepeople whp accept bitcoom and altcoin as their paymrnt22t

[MommyElsa]

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

This issue is too wide and it is very early to talk about. Our world is sorrounded by different currency but with the same usage expect that with this digital currency it will be very hard for the old one to adjust with this things, so I think, totally cashless society, nation or even world is impossible.

[entrepmind23]

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

That's still their decision but I highly doubt that other country will do the same. Regular currency has a huge function for countries and it played a huge role for decades that's why there are different kinds of currencies. So I think it is impossible for it to be extinct and be replaced by digital currency in the future.

It may be simple for their country to shift to digital currency but it would be hard for other countries to follow suit because other countries are so behind in technology especially those that are in third world countries. Government cannot just easily decide to shift to digital currency if majority of the people will not be able to use it because of the lack of device. Besides, countries has more problems like poverty and corruption that they need to solve first or at least lessen and then add some more in their plate like the issue regarding the usage of cryptocurreny. It would be hard since it is decentralized and what the government wants is control.

[Freddie Aguiluz]

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.

I agree to that, especially here in our country, many of our countrymen are experiencing poverty, they can't even have their own houses, clothes and food for every day living, how much more if they phase out all the paper money and turn it into internet currency, what will happen to them, even their money that they got from begging on the street will be useless.

[BarbieCasino]

I don't think that cash will extinct. There are alot of transactions that needs to be paid by cash. And also most of the transaction that needs documentations are need to paid in cash. Also not all establishments will embrace cashless transactions.

Cash has the strong present yet but I think if the crypto currency will get in the market the value and the price of the cash will not remain the same, as per now a lot of the people are using the bitcoin and the crypto payment for the bitcoin and they are paying through the bitcoin so for me the future of the bitcoin is better than the cash so invest more and earn more.