Does this mean Cash will be extinct?

[armored]

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 governments are taking seriously this idea of cashless society. If that happens in many countries, this can lead to an economic chaos and will lead large numbers of people to poverty. But I think people will fight against this kind of thing.

[reijusama2583]

Well I think it is a big no because not all of us are accessible in technology or some of us are illiterate in using technology. As of now many countries are not fully develop like the  many third world countries and somehow it have a high poverty rate and if we might think it was not very compatible to them at some point money generated from technology has many disadvantages like how if there is no electricity? you cannot use your money right? Well I think cash will not become extinct because it is more reliable compare to others.

[xSkylarx]

I don't think that cash would extinct in our generation maybe in the next few generations ,
I don't really think that it would happen in the next few years but maybe some decade's it could but we could never know.

[iram3130]

As a new technology emerges the old will perish, we used gold, silver, diamonds and Ruby's for a long time and now it's the age of cryptocurrencies.

[mharz]

I don't think that cash would extinct in our generation maybe in the next few generations ,
I don't really think that it would happen in the next few years but maybe some decade's it could but we could never know.

Even new generation born I don't think that cash will be extinct, maybe less cash society will happen but removing cash or money to the circulation of daily life of people. I guess it will not happen, because even many people enjoying using bitcoin more people are still relied to the cash or money they were used. Why? Maybe because it easy to used cash than bitcoin, also money was always on the hand while bitcoin was always in the wallet.

[Genemind]

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 could happen, but not at that year I think. People are still used to the system where cash is the one that we use to buy. I hardly see that people will easily let go. People are naturally reluctant to change, and this is becoming a hindrance for progress.

[relentless1]

I dont think so in our lifetime. Its happened in India I think, they removed the highest denominator and many lost out and lives  

[jessicawelsh]

They are stop using cash doesn't mean they will use Bitcoin at all. I think their mean is they will use the credit cards for all the payment instead of cash.

[barabarian1]

yes it can. if developer of  bitcoin not add supply of coin, it make out of stock. but if they add stock of bitcoin, it never happen. and i think they will add supply of bitcoin.
but if bitcoin extinct, other coin will replace that place, ethereum maybe.

[Sled]

yes it can. if developer of  bitcoin not add supply of coin, it make out of stock. but if they add stock of bitcoin, it never happen. and i think they will add supply of bitcoin.
but if bitcoin extinct, other coin will replace that place, ethereum maybe.

Bitcoin will not be extinct and replace by other type of coin because bitcoin is keep on developing and improving and i think that in the future, the price of bitcoin will be more than $10,000 and a lot of people will use it among the other cryptocurrency in the market. Bitcoin is not that easy to be defeated because it is becoming stronger and stronger that will make itself unstoppable.

[LogitechMouse]

Sweden are planning to do it because they think that all of the people in their country already will have smartphones already and an internet connection. If Sweden can do it, then other can't do it because one reason is many people can't afford to buy gadgets for themselves so they will rely on paper money in order to buy things they need or want. Another is some places don't have internet connection especially in the remote areas.

[laracastvue]

Fiat will never be extinct, Those families that are in the middle and elite class are the only capable of earning bitcoins because the can afford to have internet connection and computer but for low class there is no chance for them to earn bitcoins.

[iol]

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

Stop using cash but that could mean every transaction will be digital or visa cards use. Here in my place almost everyone is using only visa/credit cards even in small transactions it even in retail stores so cashless society could be one day and im not sure if could also be cryptocurrencies. 

[warr1979]

yes it can. if developer of  bitcoin not add supply of coin, it make out of stock. but if they add stock of bitcoin, it never happen. and i think they will add supply of bitcoin.
but if bitcoin extinct, other coin will replace that place, ethereum maybe.

Bitcoin will not be extinct and replace by other type of coin because bitcoin is keep on developing and improving and i think that in the future, the price of bitcoin will be more than $10,000 and a lot of people will use it among the other cryptocurrency in the market. Bitcoin is not that easy to be defeated because it is becoming stronger and stronger that will make itself unstoppable.

Maybe, your target for Bitcoin will be complete in this year.
Today, the price of Bitcoin as passed $8,000 to create the new all time high price.
I'm really surprise and don't understand the reason made Bitcoin price increased many percents like that.

[buytheeffinD]

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

They should and others should follow suit. Only a small amount of cash is physical nowadays and just today the person who replaced my mail lock basically refused to take cash. They said how do you want to pay cash, credit,

or debit? I said cash which they told me wasnt possible because and I quote "nobody pays in cash nowadays". After that I ended up paying with credit but you get the point even simple transactions sometimes cant be

completed by cash, it is only a matter of time before everything goes digital. It is simpler, easier, and more efficient than what we as humans can do in regards to cash.

[Chrystora123]

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 still can not assure you that Cash will be extinct because of Bitcoin,
but I think the existence of Cash will slowly get rid of by Digital Currency that's for sure ...

[potatocorner]

Total removal of fiat from the society will do more harm than good.
No matter the level of technological development, not everyone will be able to embrace cashless transactions. And also, most services need to be paid in cash.

I agree with this, and we cannot remove fiat completely in our systems because how about the people who doesn't even have any access to the internet. We all know bitcoin is used because we have internet connection. Poor people cannot access the internet so how would they live in a cashless society? We need to think it further.

[ronafurw]

Fiat will never be extinct in this world. Because fiat is a big part of our daily life. And only a rich and advance country can make fiat disappear in their country.

You are right the fiat will not be finish totally but to some extent the value and the price of the bitcoin will be high and the people who are not using the bitcoin will lose profit, I hope the bitcoin will increase in the value and this is the time to grow more and the two have the bright future of the crypto, as thousands of the people are using the bitcoin and this is the reason why the demand of the bitcoin is getting high now.

[nightways]

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

Maybe it is not an easy feat to implement on a worldwide basis because several countries was still accustomed on using their own local currency and cash as well. From my point of view bitcoins cannot yet to be use on every transactions and deals we are entering so it can be served as a replacement for now. Bitcoins needs to be more stabilize and needs to be improve in order for it to be use everywhere with ease.

Agreed! It is just the beginning of an era of bitcoin. There are still lot of things which bitcoin needs to do in order to make name in this world.

As far as cash is concerned, I don’t think so that this world will accept this thing. Paper money has its own importance and people will keep on using it no matter what the conditions are. Crypto currency will flourish in the future but will not effect that much on the growth of paper money.

[darewaller]

Very bad idea if this would ever happen, we will have to give up another part of our freedom which already seems to be fading away in so many ways.

A true currency can never be volatile like bitcoin is, so bitcoin can never make Fiat disappear or go extinct because it doesn’t have the qualities of a true money. It highly volatile, and that’s the reason it is referred to as a stock and not as a currency (though a currency in its own way) Fiat is very important and we need it. Fiat is the same reason that made us go after Bitcoin, because we all need it real bad lol.