Does this mean Cash will be extinct?

[redcucumber]

no not really i think they will co exist with each other because bitcoin is also relying in cash as of now to buy bitcoin you need cash and cash is the legal tender where ever you go in the world you can purchase anything with cash

[Firefox07]

Fiat will never be extinct because it is one if the most important thing on earth. We always use cash in our daily transaction and we can use it anytime anywhere. So cash cannot be replace by any cryptocurrency.

[Rotsor]

Yes cash will be extinct sooner or later. It is redundant in this day and age with all the technology that we have. There are much better and more secure currencies to use.

[jaysabi]

Cash is slowly dying, it started with wide using of pay cards. Same thing could happen again, just in this case instead of pay cards it will be Bitcoin. Future of money is some kind of electronic currency, that is for sure. Bitcoin have the potential for that. But will it be? No one can know for sure, all we can do is wait and see.

Traditional electronic money is a far greater threat than bitcoin in eliminating physical cash. That doesn't mean the death of fiat, it just means physical currency. Electronic money is already conquering the world and it was nothing to do with bitcoin. The electronic cash system started decades ago. Today, Visa and Mastercard are the biggest entities pushing toward a cashless society, and there is no shortage of additional contributors: PayPal, Square, Amazon, Apple, and on and on. These are giant behemoths, and all advance us farther and farther towards a cashless society. We've been progressing towards this since people starting using checks, it's just that now it's reaching a tipping point and the growth of cashless payment options is quickening.

[heldworld]

I really don't want to believe cash/paper money will go into extinction, my btc will continue increasing in its worth while I'll convert my btc to paper money and spend,  that's what I think 

[bob123]

Traditional electronic money is a far greater threat than bitcoin in eliminating physical cash.

I dont agree with you on that point.
You are right that cash won't be directly displaced by crypto currencies.
But after cash wont be accepted and credit cards and EC are the only way to buy stuff (probably in ~5 years), i think those credit cards are going to be replaced
by crypto currencies pretty soon. Credit cards are no way secure and this will become a big problem in the future.
Crypto currencies are a really good approach to fast cash-less buying/paying.
But BTC probably won't be the most accepted langauge since countries are going to start their own crypto coins like russia did with krypto rubel.

[BTCMILLIONAIRE]

Cash is slowly dying, it started with wide using of pay cards. Same thing could happen again, just in this case instead of pay cards it will be Bitcoin. Future of money is some kind of electronic currency, that is for sure. Bitcoin have the potential for that. But will it be? No one can know for sure, all we can do is wait and see.

Traditional electronic money is a far greater threat than bitcoin in eliminating physical cash. That doesn't mean the death of fiat, it just means physical currency. Electronic money is already conquering the world and it was nothing to do with bitcoin. The electronic cash system started decades ago. Today, Visa and Mastercard are the biggest entities pushing toward a cashless society, and there is no shortage of additional contributors: PayPal, Square, Amazon, Apple, and on and on. These are giant behemoths, and all advance us farther and farther towards a cashless society. We've been progressing towards this since people starting using checks, it's just that now it's reaching a tipping point and the growth of cashless payment options is quickening.

The issue with traditional electronic cash is that it's stupidly slow and expensive. It takes at least one business day even for national wire transfers, which is just ridiculous for the 21st century.

But until Bitcoin there was no strong incentive for financial institutions to innovate, after all, they basically had a monopoly on all things money. So with the Blockchain making an appearance they will probably play along and start innovating as well. Who knows where that will lead...

[sumanto]

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 it can happen, bitcoin will be the king of currency and paper money will be extinct, because the efficiency of paper money is there again, bitcoin is a digital currency more efficient than paper money.

[Dobmader]

no not really i think they will co exist with each other because bitcoin is also relying in cash as of now to buy bitcoin you need cash and cash is the legal tender where ever you go in the world you can purchase anything with cash

Yeah cash is the legal thing but for this now you can work in the bitcoin signature campaign and you will get more with the time, I have a lot of eh suggestion lie if you are not using the cash and you are using the bitcoin only so you can join the signature campaign for the more bitcoin earning and the shopping can be done with the bitcoin only so it is the time to earn the bitcoin and to forget about the cash.

[zulkarnaen]

I think even though bitcoin is currently in progress but it seems that the existence of cash will not be replaced by any currency, because many things can be done by using fiat currency and this sometimes can not be done with bitcoin, so the possibility of currency fiat will never be replaced functionally

[BTCMILLIONAIRE]

I think even though bitcoin is currently in progress but it seems that the existence of cash will not be replaced by any currency, because many things can be done by using fiat currency and this sometimes can not be done with bitcoin, so the possibility of currency fiat will never be replaced functionally

This is very easy to change though and it wouldn't take very long either.

[fullhdpixel]

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.

Everyone has his own point of view but I think otherwise. I don’t think that this will ever happen. It is because of the reason that still there are so many number of people who are even unaware of this word of bitcoin. Moreover, people are using paper money since centuries and they will never stop using it. Bitcoin has its own value but there is no way that you can expect a cashless society.

[BTCMILLIONAIRE]

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.

Everyone has his own point of view but I think otherwise. I don’t think that this will ever happen. It is because of the reason that still there are so many number of people who are even unaware of this word of bitcoin. Moreover, people are using paper money since centuries and they will never stop using it. Bitcoin has its own value but there is no way that you can expect a cashless society.

People have not used paper money for millenia before that though. Doesn't mean anything. As soon as something better comes along and enough people become aware of it, that will be used instead. Or do you still see people using wired phones and sending telegrams around anywhere?

[sana54210]

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.

No matter how they want to go for the cashless society, there will still be some people limited to information and how do you want to do that ?

You will even need a whole lot of work on orientation to be able to put some people through on how to do some things. For example, I went to a farm to make some purchase to bring to town and then most of these local farmers have no idea of how banks are used and they have a pretty good way of always storing their own cash, how do you even want to keep those people up to date that cash is no longer allowed.

[jack1111]

Not only Sweden, have you heard about emCash, the coin that Dubai government want to introduce for UAE residents, people will have the ability of buying government and non government services using this blockchain based currency.

[Wexnident]

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

Nope, simply because we're not sure if all of the countries will do the same. Cryptocurrency is not yet even recognized as a currency is some places. And there are still lots of people that prefer cash over digital currency since for them it is more secured and reliable because it is supported by the governments on each country all over the world.

[orarider]

Fiat will never be extinct because it is one if the most important thing on earth. We always use cash in our daily transaction and we can use it anytime anywhere. So cash cannot be replace by any cryptocurrency.

For the current technological platform, fiat must exist. However, in the future, as technology grows to a new height, I believe fiat can be replaced by a smart currency, which may be digital currency.

[Bonakid]

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 would take too long process to extinct the cash for so many years they need orientation of how people will use without a paper money to buy,to shop or paying in other establishments.In the future if technology exist to us and millenial people will adopt it for easier using without cash.

[phr0stbyt3]

Yes it can don't know why you are saying it in a sad way it is actually better with digital payments can be made faster , we no longer have to worry about secretly taking cash out of a atm and cautiously go to our destination. Digital payments also don't cost much and can't be destroyed in any situation not even a calamity as it will be stored in a database which will be only

[Ahiaba]

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

Well cash cannot be totally extint from any society even in the so called world developing  including swewdeen. But if there is a massive adoption of cashless society by the goernement and training and retraining of the populace and even at that fiat curreny will still exist in the society.