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Author Topic: Does this mean Cash will be extinct?  (Read 14603 times)
josephdenne
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November 21, 2017, 10:02:46 AM
 #641

Cash as we understand it is an endangered species. Whether or not it will persist in future depends on how you define cash in the first place. If you take it to literally mean money in physical coins or notes, then it will almost certainly die out. However if you take it to mean an untraceable and instant form of value transfer, then there will always be cash – it will just be facilitated on a device.

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November 21, 2017, 10:06:08 AM
 #642

I dont think cash will be extinct even if bitcoin grows bigger in the future, maybe there's a slight possibility but for my personal preference it wont because not all of us here in the world, or i could say not all of us in every country can afford bitcoin because of social problems like internet. Thats why i conclude that there's only a slight chance.
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November 21, 2017, 12:41:36 PM
 #643

I dont think cash will be extinct even if bitcoin grows bigger in the future, maybe there's a slight possibility but for my personal preference it wont because not all of us here in the world, or i could say not all of us in every country can afford bitcoin because of social problems like internet. Thats why i conclude that there's only a slight chance.

The article is not about replacing cash with example bitcoin, something that is entirely undoable. Bitcoin is too slow, too expensive, to even remotely compete with the easy and speed of cash.

The article is about replacing physical cash with its digital delivering method, namely credit card and Mobil pay, both options which have already for years surpassed physical cash in transactions amount and count, in the Nordic countries.
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November 22, 2017, 02:30:10 PM
 #644

I dont think cash will be extinct even if bitcoin grows bigger in the future, maybe there's a slight possibility but for my personal preference it wont because not all of us here in the world, or i could say not all of us in every country can afford bitcoin because of social problems like internet. Thats why i conclude that there's only a slight chance.
That slight chance is leaning heavily on the impossible. I can't even imagine gat happening. Its can probably for some countries like the us and uk or japan but to say cash would be extinct entirely around the world, that's not happening

 
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November 22, 2017, 02:43:57 PM
 #645

Money relies upon the administration of one's nation. They are the person's who manage the stream of the cash inside the premises of their nation. Along these lines they are the main ones who can choose and the first who realizes that money is now wiped out.
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November 22, 2017, 02:46:33 PM
 #646

I find it worrying the end of the cash personally, apart from the cryptocurrency, it would mean the end of the private life
sumangs
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November 22, 2017, 04:59:25 PM
 #647

It is just a prediction and maybe some countries will not let this to happen since their fiat money is a way of collecting tax to people. Some of countries thinks that bitcoin is a threat and they will absolutely ban it and it will not make the cash extinct.
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November 23, 2017, 12:01:52 AM
 #648

I find it worrying the end of the cash personally, apart from the cryptocurrency, it would mean the end of the private life
Not at all. Cryptocurrencies in combination with anonymizing software is vastly more private than cash or even digital fiat ever could be.
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November 23, 2017, 05:18:33 AM
Merited by Xantrax (6), Destined (1), turboblade (1), k4spr (1), leptar (1)
 #649

I don't think so , fiat cash in many countries is imperative , they generally require money rather than cryptos. Perhaps the rich individuals may not require trade out the future but rather the vast majority required just greenbacks. Cashless society just implies that , the rich might be the person who can have cash later on . What's more, I don't believe that the vast majority of the nations government acknowledges this sort of cashless society.

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November 23, 2017, 11:54:37 AM
 #650

I dont think cash will be extinct even if bitcoin grows bigger in the future, maybe there's a slight possibility but for my personal preference it wont because not all of us here in the world, or i could say not all of us in every country can afford bitcoin because of social problems like internet. Thats why i conclude that there's only a slight chance.
That slight chance is leaning heavily on the impossible. I can't even imagine gat happening. Its can probably for some countries like the us and uk or japan but to say cash would be extinct entirely around the world, that's not happening

Cash is a currency proves existence of the government and their incluence in the world's economy.
If someday, no cash in the world, they will not exist and something or no one manage the world.

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November 23, 2017, 12:45:46 PM
 #651

Faint money or cash can not be totally eradicated from all countries of the world, while some developed countries and even developing countries are strongly optioning in for a cashless economy which seek to eliminate and discourage the use of paper money and switching to the mode of online payments through master cards and other online payments method in transaction.
This will still take a very long time before cash can totally go into extinction because there is still need for improvement in the area of technological development.
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November 23, 2017, 01:56:02 PM
 #652

For cash has long been used and in my opinion it will continue to be used by everyone because there is cash management one of which is the government. and the government will continue to grow and always survive with its currency

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November 23, 2017, 02:07:23 PM
 #653

That is impossible that cash will be extinct in this world, eventhough bitcoin price is still increasing and rising it will not be enough that cash is we will be extinct, cash is so better now than bitcoin because we can use cash anytime and anywhere unlike bitcoin.

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November 23, 2017, 02:12:21 PM
 #654

until at any time cash will not go extinct because cash is a valid means of payment. and also its existence has been recognized and approved by various parties from national banks and government laws.
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November 23, 2017, 02:13:43 PM
 #655

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 is the future of money,  cashless.  online banking, online buying and selling are emerging really fast. People prefer cashless transactions nowadays. They do not like to carry large money in trasacting or in buying. If first  world countries start this, then everyone follows. It has more advantages.
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November 23, 2017, 02:44:26 PM
 #656

I do not know about the fact that cash will extinct but i believe it will because we are going in the future we need to improve and this is one of those improvements to make we are getting rid of cash and only accepting crypto currency.
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November 23, 2017, 02:46:59 PM
 #657

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
Of course no! People will not stop using cash. If you will see our society today, I know that you will find out that the cash will never be extinct. There are many ways that the cash can do and bitcoin cannot.

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November 23, 2017, 02:57:15 PM
 #658

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 that plan would succeed, fiat money is hard replace since it is very useful to buy our basic commodities, im not saying that it is impossible to pay our basic commodities with crypto,  what i'm trying to say is really hard to broke the system of using the fiat money. That's my opinion only.

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November 23, 2017, 03:02:03 PM
 #659

Yes, sooner or later... But maybe not to crypto currency yet, maybe some other cashless methods. Have you ever seen people paying by cash in StarTrek, that's the answer to your subject question  Grin
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November 23, 2017, 03:15:16 PM
 #660

Yes, sooner or later... But maybe not to crypto currency yet, maybe some other cashless methods. Have you ever seen people paying by cash in StarTrek, that's the answer to your subject question  Grin

I think that it will be also extinct but its not the time now, because even now a lot of people are using cash. In poor country's people have no credit cards most of the time.

So they will continue use it as before. So we will need to help them in order to make cash extinct.
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