Does this mean Cash will be extinct?

[Sled]

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.

Indeed we should invest more money into bitcoin because we are not investing in a short term investment because we are investing in the future and that is for real. If we are going to have bitcoin in the future then the payment system will be more advance and easier than using cash and we can use bitcoin everywhere because it only need an internet connection and smartphone then you can pay things or transfer money to the other places without stressing yourself.

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[paul00]

I think this plan that they have will not fully extinct cash especially when all the other countries are still active in using each countries currency. This plan must be just minimizing of using or involving of cash in daily transactions. Maybe this is one of theie ways in minimizing cash related crimes and go with some technology which the millenial time offers.

[cizatext]

Yes if possible because so many countries of the world are now optioning in for cashless society which is the most safest society, all you need to do is to pay for goods at shops that accept bitcoin or other means like Master cards to pay for goods.

[roddy5]

I think this plan that they have will not fully extinct cash especially when all the other countries are still active in using each countries currency. This plan must be just minimizing of using or involving of cash in daily transactions. Maybe this is one of theie ways in minimizing cash related crimes and go with some technology which the millenial time offers.

Bitcoin creator's goal was to have a currency that is decentralize.
For bitcoin to totally replace the fiat it needs to have a price of at least $10 million per coin.
It is really unimaginable if it will reach that amount and when. For now bitcoin is just an alternative for fiat currency.

[Pandji02]

Maybe someday its could be happen,everything is possible in the word..am i right?

[swordling143]

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

There is a possibility that cash will be extinct, I mean technology has been growing and evolving throughout the years, so we as it's masters should also adapt to technology's evolution and accept the change of not using cash anymore.

[neonshium]

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 money is being use by the low areas of the country but the well developed areas of the country are using the bitcoin and the other digital currency because they are aware of the new technologies and the income of the new technologies now.

I hold the bitcoin and I want to invest in it if the bitcoin will give the high and the bright future to those people who are interested in it.

[BTCMILLIONAIRE]

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 money is being use by the low areas of the country but the well developed areas of the country are using the bitcoin and the other digital currency because they are aware of the new technologies and the income of the new technologies now.

I hold the bitcoin and I want to invest in it if the bitcoin will give the high and the bright future to those people who are interested in it.

What do you mean with "low areas"? I only know a very small number of people who are actually involved in crypto. And while all of them are very well educated, it does seem like poorer people are flocking into crypto faster than the rest. At least if this forum is anything to go by (which is getting flooded by very low quality posts without any content and very poor language skills).

[Flodemaga]

I dont believe will be soo easy to remove the cash from circulation, sure the future we are walking is into the digital era, where we will be able to do all at home without need to moove into banks or agency to pay our bills. Its nice to see a country moove forward into the new era, and well i do believe it will be adopted by others countries as well, nowadays we can do already a lot things without need money at hands wich bring anybody an extra risk.

[xanxus.kun]

There are tons of other countries aside from Sweden who are adopting to digital money, and bit by bit reducing the use physical money, we all know we're entering the technological era so I'm not really surprise if money will cease to exist, but i believe it will take time for us to have cashless society, after all it's not that easy.

[haroldtee]

What do you mean with "low areas"? I only know a very small number of people who are actually involved in crypto. And while all of them are very well educated, it does seem like poorer people are flocking into crypto faster than the rest. At least if this forum is anything to go by (which is getting flooded by very low quality posts without any content and very poor language skills).

LOL. Judging by that, you really do have a point there. Looking at the rate of shitty posts here daily and how some people just drop some pretty awful posts that can make you puke, we can say some are or probably they are just hustlers trying to find every means.

However, we should understand that some of these guys are not native English speakers and finding any signature that would even consider you if you can't speak or write effectively in English is pretty hard which is why we have some of this shitty posts without head, but this does not make the owner of the post poor. Some are students, some are hustlers, and so on.

It is a digital age and every one can have access to information, whether low class, mid class or high class. However if we are really relating it to the very poor people, do they even have the chance to own a phone? let alone have information on how this forum works, that is even if they know what internet is all about anyway. So this is the reason cash cannot go extinct.

[zergenyt09]

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.

With the advancement in technology, things are indeed changing a lot but this does not mean that the previous things will have no existence. I don’t think so that this will ever happen to see a cashless society. There will always remain so many amongst us who will not switch towards digital money and will keep on using paper money. There is no way that we can eliminate paper money from this world.

[Nonakryse]

we're more likely to see some sort of digitilized currency. Paper money might disappear one day but it will be replaced 1:1 by digital currencies, that's very likely. That way the governments who issue the paper money will still have the control over these currencies, which means they can adjust the supply of the digital currency depending on the current economic performance of a specific country. It's actually a win-win situation because most governments want to have control over their currency, and the reason they ban and regulate the crypto market is to keep that control and not lose it. If they issue a digital currency which they have control over, all that will change, all of the sudden the issuance of new money will be much easier, and they even might automate the various activties or "obligations" the citizens have towards the government, such as taxes, insurances, updating various documents (passports, ID's etc.). It will definitely take long, not sure if that will be achieved by 2023.

[waynechong1995]

I think that's not the main point here, going cashless is a pretty realistic objective for government as long they had an established online monetary system, it reduces crime rates and pretty much saving off printing cold hard cash. As long the currency are exchangeable to another and formally legalized by their government there is nothing wrong with physical money being extincted, i would pretty happy and as well confident that our generation would have long problem adapting a cashless system, but still 2023 might be too early for what.

[Afnan_faizah]

I think that's not the main point here, going cashless is a pretty realistic objective for government as long they had an established online monetary system, it reduces crime rates and pretty much saving off printing cold hard cash. As long the currency are exchangeable to another and formally legalized by their government there is nothing wrong with physical money being extincted, i would pretty happy and as well confident that our generation would have long problem adapting a cashless system, but still 2023 might be too early for what.

Cash ( paper money) would be extict. I am pretty sure that we will back to use gold as currency, like in the past. Bitcoin price will automatically stable when it used by all people in the world but the price will keep rise and of course gold will experience the same thing. People will realize that they have experienced many losses because of using cash ( paper money) as a medium of exchange. We are smart generation, the next generation would be smarter than us.

[vintages]

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

In my own opinion, I really think this will make no sense. A country that want to practices paperless cash policy is just cutting herself away from other related matter with other country.
Believe it or not, money is used in form of trade by barter; if you give me a goods or a services, I pay you for it.
Moreover, 2023 may seems far, but its really closer than we thought. Not all countries are fully developed with high technology or so. If Sweden want to practices this policy then they are just gonna product for themselves only without exporting to other countries.

So guys, I believe this news is just a speculations, let's wait and see the next move.

[BTCMILLIONAIRE]

I think that's not the main point here, going cashless is a pretty realistic objective for government as long they had an established online monetary system, it reduces crime rates and pretty much saving off printing cold hard cash. As long the currency are exchangeable to another and formally legalized by their government there is nothing wrong with physical money being extincted, i would pretty happy and as well confident that our generation would have long problem adapting a cashless system, but still 2023 might be too early for what.

Cash ( paper money) would be extict. I am pretty sure that we will back to use gold as currency, like in the past. Bitcoin price will automatically stable when it used by all people in the world but the price will keep rise and of course gold will experience the same thing. People will realize that they have experienced many losses because of using cash ( paper money) as a medium of exchange. We are smart generation, the next generation would be smarter than us.

Why do people keep bringing this up? We stopped using Gold for a good reason, it's difficult to procure. It's difficult to use. And the supply isn't large enough to let a full fledged economy function. It would be completely senseless to go back to trading goods and services for precious metals in day to day life.

[z38630610]

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 may be happened in the future but not in early years. There are lots of countries that have not any internet connection. How can they stop cash money production? If internet covers all over the world, maybe people may stop using paper money. Then governments like Sweden may stop using cash. Think about future life in 2070. 

[UzumakiSakuragi]

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, its gonna be hard to stop using cash especially in a world where we use money everyday for such a long time. I think its gonna be really cool and convenient if we are gonna use cryptocurrencies to every transactions that we do, but I think replacing cash or paper money is gonna take along way before actually happening.

[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

It may be happened in the future but not in early years. There are lots of countries that have not any internet connection. How can they stop cash money production? If internet covers all over the world, maybe people may stop using paper money. Then governments like Sweden may stop using cash. Think about future life in 2070. 

2070 seems very late though. Google and Facebook are already working on getting Internet to everyone on Earth (because they'll be able to get more ad revenue that way). So it probably won't take more than 10 years for everybody to have internet and at least a cheap smartphone.

At that point it'll just be a question of one country being a pilot and the rest following along.