Does this mean Cash will be extinct?

[BTCMILLIONAIRE]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

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[Nikola95]

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.

Yes, Nordic countries are one of the most developed countries in the world. They are first in many aspects. Also, I don't think it will take 5-10 years for others to follow, even if this project succeed in Sweden. World is large, and totally dependent on cash. So it will take 20 years or even more for others to follow. Like it or not, paper money is good thing that people invented to use for trade. Is this going to be successfull in Sweden, we will see. Honestly I don't have idea how it will look like without paper money. Let's just wait.

[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

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.

Yes, Nordic countries are one of the most developed countries in the world. They are first in many aspects. Also, I don't think it will take 5-10 years for others to follow, even if this project succeed in Sweden. World is large, and totally dependent on cash. So it will take 20 years or even more for others to follow. Like it or not, paper money is good thing that people invented to use for trade. Is this going to be successfull in Sweden, we will see. Honestly I don't have idea how it will look like without paper money. Let's just wait.

I could easily see a snowballing effect taking place once one country goes cashless with success though. Cannabis laws are slowly but steadily being revamped in most countries too now that the lolUS have started legalizing it.

[deadthings]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

[BTCMILLIONAIRE]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

Most importantly, millions of people still do not have access to the internet and many older people are unable to do so. As long as 100% of people do not learn this skill it is impossible.

We don't need 100% of the people on the internet to start moving toward cashless societies. Nobody said that this has to happen in an instant on a global scale.

[supercanada1]

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

Before, I thought this is not possible.  But as time goes by,  I open into the possibility that someday, cash will be instinct. We should not underestimate technology because sky is the limit.  Someday all transactions will be digital and bitcoin by that time is very popular and of course bitcoin's price soar up high.

Yeah it is right and the income of the bitcoin will give the best thing about the bitcoin and the bitcoin will be use for the long time saving, the value and the information is now being very famous and a lot of the people are now buying the bitcoin and they are holding it for the long time as the saving and the future will be bright till the end of the year and the bitcoin will be the legal currency and the will give the profit more and more.

[cryp24x]

I agree that there will be come a time that cash will be replaced by something else.  Just like the barter method where it was replaced by Cash.  There is no denying that the result of cryptocurrency technology is amazing because of the blockchain.  Government as we see are now taking interest in this blockchain technology and might probably adopt it and may result to the extinction of Cash.

[Apple Mac]

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 is not literally that the usage of cash will be extinct as the bitcoin or other currency type rises and continuously attract many people. Maybe its just that the usage and/or consumption of the real money will be lessen since the rise of the technology will give way for the easy access of bitcoin. But still it will not make the real money extinct because there are still part of the whole community that still prefer usage of fiat rather than bitcoin so it will not turn out for the phase out of cash in the society.

[Sadlife]

Cash will always exist cause people will need physical currency to transact or pay their bills and also digital currency can only be used if you have internet or a device that can connect to the internet were some countries doesn't have access to the internet or does not have those devices. It would be highly possible for this countries to create their own crypto currency but they could not relinquish as payment.

[futile-resistance]

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.

Bitcoin is not  just a replacement for cash but it is also a great revolution in the economy transfer system as it will change the thinking of people who use it about paying and earning money. Bitcoin payment  methods can be more fast and convenient  and also secure than a cash payment mods as it is a digital currency it has many plus points over the real cash which we use.

I will be difficult to change whole system and only use digital currency it is mostly impossible i think but bitcoin can be used as an alternative to this some times

[twthmoses]

Bitcoin is not  just a replacement for cash but it is also a great revolution in the economy transfer system as it will change the thinking of people who use it about paying and earning money. Bitcoin payment  methods can be more fast and convenient  and also secure than a cash payment mods as it is a digital currency it has many plus points over the real cash which we use.

I will be difficult to change whole system and only use digital currency it is mostly impossible i think but bitcoin can be used as an alternative to this some times

I agree that bitcoin can be a great alternative to cash, but as it is now (the technology) it has no chance to substitute cash. It is simply too slow, too expensive and you cannot pay small amounts without getting killed by fee.

Imagine I take the kids for an ice and soda one hot summer day at the beach. Not only can I not buy just 4 ice and soda, without fee at least doubling the amount, I need to buy 50 to make it worthwhile, I also have to wait for some miner to mine a block in order for the shop to confirm my payment – and that only if I really kicked the fee up, or else I might wait 2-5-20-100 blocks.

You need instant transaction / confirmation, zero or close to zero fee and physical light mass / volume. Such alternative already existed to physical cash, its called credit card or Mobil pay.

[CoinFlippo]

Cash will be never extinct while people use. I think after 100 years it would be possible but now not. Bitcoin is still weak it needs to grow to 50k at least.

So people will know that its strong and that its not a weak scam coin.

[rainezerr]

There are many countries where hundrets of thousands or million of refugees without legal papers live and if the government will switch to electronic money only they will surely start to use something else as cash.

If the government just introduces electronic cash and let everyone participate whether legal or illegal, then the cash will likely extinct in that country. But I personally assume that governments will use the electronic money to control people and collect more taxes!

In that case people would just move to cryptos and ignore the governments to whatever extent possible though. That would be suicide for most governments today and then create a lot of chaos.

It was very impossible for everyone to move on virtual currency and government will not agree because they will be traceable and most of the governments are corrupted so they will be revealed if everyone will be mandatory to use virtual currency.

[Yankeestyle]

Bitcoin is not  just a replacement for cash but it is also a great revolution in the economy transfer system as it will change the thinking of people who use it about paying and earning money. Bitcoin payment  methods can be more fast and convenient  and also secure than a cash payment mods as it is a digital currency it has many plus points over the real cash which we use.

I will be difficult to change whole system and only use digital currency it is mostly impossible i think but bitcoin can be used as an alternative to this some times

I agree that bitcoin can be a great alternative to cash, but as it is now (the technology) it has no chance to substitute cash. It is simply too slow, too expensive and you cannot pay small amounts without getting killed by fee.

Imagine I take the kids for an ice and soda one hot summer day at the beach. Not only can I not buy just 4 ice and soda, without fee at least doubling the amount, I need to buy 50 to make it worthwhile, I also have to wait for some miner to mine a block in order for the shop to confirm my payment – and that only if I really kicked the fee up, or else I might wait 2-5-20-100 blocks.

You need instant transaction / confirmation, zero or close to zero fee and physical light mass / volume. Such alternative already existed to physical cash, its called credit card or Mobil pay.

Envision I take the children for an ice and pop one sweltering summer day at the shoreline. Not exclusively would i be able to not purchase only 4 ice and pop, without charge in any event multiplying the sum, I have to purchase 50 to make it advantageous, I likewise need to sit tight for some digger to mine a piece all together for the shop to affirm my installment – and that lone on the off chance that I truly kicked the expense up, or else I may hold up 2-5-20-100 squares.

[BTCevo]

Cash will always exist cause people will need physical currency to transact or pay their bills and also digital currency can only be used if you have internet or a device that can connect to the internet were some countries doesn't have access to the internet or does not have those devices. It would be highly possible for this countries to create their own crypto currency but they could not relinquish as payment.

What you saying here is true somehow but the purpose of cash is because every single thing is cash needed right now. From small thing to huge thing need some cash unless some of them are going to trade with coin may be it is depends on both side. But overall there is no way that we cash can be extinct since bitcoin will turn out to be some cash in the end. If there is no cash, how can bitcoin even worth?

[Allan Ramanda]

this is just bullshit, bitcoin is a digital currency, and paper money is the currency that is always used for the exchange of tools that is recognized throughout the world. besides bitcoin will not do any good if it can not be exchanged for paper money.

[fredo123]

I think, Cashless society could not happen as easy, because there are so many people who have'nt heard yet about cryptocurrency, The tendency if people are less educated in crytocurrency perhaps, there will be a great chaos, I believe also that there are community away from digital world, How can we educate them?

[twthmoses]

I agree that bitcoin can be a great alternative to cash, but as it is now (the technology) it has no chance to substitute cash. It is simply too slow, too expensive and you cannot pay small amounts without getting killed by fee.

Imagine I take the kids for an ice and soda one hot summer day at the beach. Not only can I not buy just 4 ice and soda, without fee at least doubling the amount, I need to buy 50 to make it worthwhile, I also have to wait for some miner to mine a block in order for the shop to confirm my payment – and that only if I really kicked the fee up, or else I might wait 2-5-20-100 blocks.

You need instant transaction / confirmation, zero or close to zero fee and physical light mass / volume. Such alternative already existed to physical cash, its called credit card or Mobil pay.

Envision I take the children for an ice and pop one sweltering summer day at the shoreline. Not exclusively would i be able to not purchase only 4 ice and pop, without charge in any event multiplying the sum, I have to purchase 50 to make it advantageous, I likewise need to sit tight for some digger to mine a piece all together for the shop to affirm my installment – and that lone on the off chance that I truly kicked the expense up, or else I may hold up 2-5-20-100 squares.

Now that is comedy      Sometimes wording must sound very weird in the crypto world. I imagine something like listen to Dutch or Platt-German. Good one

[BTCMILLIONAIRE]

this is just bullshit, bitcoin is a digital currency, and paper money is the currency that is always used for the exchange of tools that is recognized throughout the world. besides bitcoin will not do any good if it can not be exchanged for paper money.

You don't seem to understand money... Also, just because something has "always" been used doesn't mean it's the best way to do things. And paper money has only existed for roughly 1000 years, so we definitely can't talk about "always used" to begin with.
There are many benefits of dumping both fiat and physical money in favour of a cryptographic alternative, regardless of whether or not that alternative is Bitcoin. Physical money wastes a large amount of resources, and fiat money is inherently worthless and gives too much power to the group that issues it. So no, the only "bullshit" here is your uninformed post.

[streazight]

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.

Bitcoin is not  just a replacement for cash but it is also a great revolution in the economy transfer system as it will change the thinking of people who use it about paying and earning money. Bitcoin payment  methods can be more fast and convenient  and also secure than a cash payment mods as it is a digital currency it has many plus points over the real cash which we use.

I will be difficult to change whole system and only use digital currency it is mostly impossible i think but bitcoin can be used as an alternative to this some times

It would really be difficult to change the whole system and for cash to go extinct then definitely some generations would apparently have to go extinct as well. Cash would still be used and bitcoin would be just another form of payment and that is how we will have it.

No government would want to give that up at least not anytime soon and probably later when there is less need for cash or no need at all, we may start seeing more focus by governments on adopting the blockchain technology the more.