Does this mean Cash will be extinct?

[rohn]

I'm sure that it will take long to get to that point of extinction. Government will not allow to just throw their local fiat/cash and embrace digital currency. People are used to cash as their method of payment in transactions. Also it would be hard for shop and market to regulate their supply of bitcoin or any other altcoin.

[1715120022]

1715120022

[brascopck]

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's a good move tbh, makes our life become more easier. I think other big countries like USA, Japan and Korea will follow Sweden but to not stop using cash, cash still can be used but not the priority. Actually It's really hard to apply this to development country.

[wismases]

This includes longterm plans and certainly has a global impact. Modern world makes every individual to really have a practical thing that can support mobility. Yes, cashless communities in big cities are numerous. Thus, paper money decades forward will be unique.

[lordquanta]

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.

of course fiat will continue to survive because every country will certainly defend each of their own local currency, time will change everything that is ancient to be very sophisticated as well as cash money, I am sure fiat will have digital currency or smart currency to replace cash money which is increasingly ancient and no longer in accordance with the needs of the times

From the developed countries perspective it is possible to make such decision only when they have foolproof scenario of providing internet or some other mechanism which will make sure that digital payments transactions will remain working seamlessly. In majority of countries it is almost the case. They have majority of area have under internet coverage. Biggest problem with this situation is whenever outage is there it will be the last thing anyone wish for. Imagine a scenario where digital payment is stopped working for him or her and person is in dire need of buying medicines. This kind of situation is not observed with cash. Either you have it or not. If you have it anyone and everyone accepts it without any problem.
This kind of problem gets escalated in poor or underdeveloped countries where lack of infrastructure and various taxes on using digital payment will demoralize people from using digital payment.

[Yamifoud]

Not that way, fiat currency is still valuable all the time. Although crypto currencies especially bitcoin are crashing fiat but isn't enough to wipe out physical money. Having both currencies are just a good idea, in which we have an options what we gonna used in a certain transaction. Because having fiat money into nothing is quite impossible to happen, as it's still valued by other people as of now.

[beej]

The idea of cash to be extinct is an understatement. Cash will certainly not go extinct.
It is the sole reason why we are working, investing, earning and saving in the first place.

It's why we invest and pour resources in bitcoins and other cryptocurrencies out there.
Not everyone in the world has a bitcoin wallet, nor access to it. Although cryptocurrency
will undoubtedly compete with cash. Cash is genuinely comprehensive and omnipresent.

[BTCMILLIONAIRE]

The idea of cash to be extinct is an understatement. Cash will certainly not go extinct.
It is the sole reason why we are working, investing, earning and saving in the first place.

It's why we invest and pour resources in bitcoins and other cryptocurrencies out there.
Not everyone in the world has a bitcoin wallet, nor access to it. Although cryptocurrency
will undoubtedly compete with cash. Cash is genuinely comprehensive and omnipresent.

Cash = paper money and coins. There is no good reason to keep those around if we can find a more efficient and intuitive way of trading. And Bitcoin isn't the only contender for this position.

[achsan fauzy]

for some countries , cash is the identity for the country , so I think there is no cash to be extinct.

[coinstalker23]

Nope i dont think fiat will be extinct in the rise of bitcoin because we still need paper cash just to pay our bills and need. If the whole world and banks or establishment is adapting well in bitcoin maybe cash will be useless.

[btcbrother]

Fiat will be around for a longgg time. It takes decades at least to faze it out. And old people are still used to it.

[BTCMILLIONAIRE]

Fiat will be around for a longgg time. It takes decades at least to faze it out. And old people are still used to it.

Old people are slowly disappearing though. But yeah, it will probably take a while. I'm wondering which countries will be the first to get rid of fiat though. Developed countries seem like they are in the best position to move towards electronic cash systems. But at the same time, undeveloped countries could benefit from just going digital straight away, instead of investing heavily in physical cash creation and security features.

[ged00u]

maybe yes. The world is developing and people require something that they can trust. Cash can be fake cause of illegal people who have capable to copy exactly how cash looks like. Bitcoin and the cryptocurrency, on the other hands, are not controlled by anyone and every transaction is showed on the blockchain. Therefore, there is no way people can create fake bitcoin or the cryptocurrency

[BossMacko]

There is a chance that cash will be extinct in the future, With the technology we have now and those digital assets that has been developed.
This might happen in the future. There will always be someone to innovate how cashless world will be done using any digital assets that has the capability of doing so.

[mickeybuddy27]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

Honestly.. I personally do not think at all that cash will be extinct later (including in the year 2023), less likely I guess if indeed all countries will actually stop to using cash. I think this will not be happened, and cash will never be extinct forever.

Right. Cash is still important even cryptocurrency exist and acceptable in the country because you cannot buy foods and in small enterprises using the digital currency. You still have to convert it into a fiat for easy payment. You cannot budget your money not like the cash because digital money has no fix value and have pump and dump time to time. I do not see a country not handing a cash on their hands.

[ronafurw]

I might get happen that cash might get extinct but for that government and people should start using e-wallets and it will take time to reache to every person. If crypto currency get legalised in all countries then yes this process will even take less time.

Absolutely, it has much solid chances to implement. Cashless society have many problems too but the profits are somehow more. But the reason it doesn’t seem like possible, bitcoin is not much famous now in every community. Only educated community that is oriented towards technology knows mostly about it. Others are just illiterate of it. Hopes for the best in future.

[Koro-Sensei]

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 it will probably goes into a digital chaos on the internet if this will imply on any country also hackers will be more active than other time because they want to test their skills and more cybercrimes and attack will be more than ever . This idea will probbaly an absurd one because how they will build the securing and safe measures out of it.

[TrueAnon]

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 pretty useful info, thx! If it wasn't for that article I'd have said that there is no way we are going cashless but now..
It's kind of difficult to imagine a world without cash although I mostly use my debit cards

[semutracing]

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 the cash will go extinct, because the current cash currency is still the pride of a country, but if the cash and digital money along the way I think it will last long, all types of currencies be it virtual or cash is very influential on the economy a country

[twthmoses]

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 it will probably goes into a digital chaos on the internet if this will imply on any country also hackers will be more active than other time because they want to test their skills and more cybercrimes and attack will be more than ever . This idea will probbaly an absurd one because how they will build the securing and safe measures out of it.

The technology for digital currency is no match for the ease and speed of cash. We need completely different thinking of the technology if digital currency should rival cash.

The article is not about changing to digital currency, it’s about changing to digital delivering method of paper money, namely credit cards and Mobil pay. This will happen within a few years in all Nordic countries and has already been underway for 10+ years.

[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

That's pretty useful info, thx! If it wasn't for that article I'd have said that there is no way we are going cashless but now..
It's kind of difficult to imagine a world without cash although I mostly use my debit cards

I've been deliberately avoiding cash for around ten years now. I'm pretty sure I'm not the only one either... Cash is just extremely inconvenient. I can't imagine that anyone seriously wants to have a wallet full of heavy worthless coins that you inevitably end up with when buying stuff for "omg x,99" several times. Those prices should be illegal...