Does this mean Cash will be extinct?

[Babylon]

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 this is not the case for the next 20 - 30 years, for cash is the most accepted mode of transaction in every places in our world. As such, even if other countries will little by little follow suit in this so-called trend in transactions, other people will still think that it is just inconvenience. This can be proven by the fact that even if bitcoin has a relatively high value as of now, people, and lawmakers especially, are still considering whether bitcoin should be used in our daily lives.

[arthotdog]

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

no thats far from reality,physical money will always remain because not
all the time internet and electricity is available,so when that time happen.physical
money will be needed for transactions so thats impossible to hhappen

[deddod]

As technology progresses, I think cash will be replaced with digital money.
perhaps in 2023 all countries will use digital money as a legitimate transaction tool.

[eleonor]

I don't think removing fiat money or having a cashless society would be a good decision because using such digital currency in general would not be easy for everyone specially poor people who don't have enough funds needed for the process of doing so.

[Naoko]

Cash can't disappear, because they support the economy of the country and are led by the state

[krky]

No i doubt it, how will the society function without cash, truth be told money makes the world go round, removing cash will do a lot of harm, we may be entering a digital era, but not all of us can keep up with this cashless society, specially the third-world countries, i meant no offense but its true.

[Ewinsane]

A cashless society has been in the works for along time already. The powers that run this world are slowly getting their way, as the years have gone by I slowly watched the war on cash play out.  Soon they will have their cashless system and then they will have total control over everyone in that system.

It is possible, but really this would mean that everybody must be connected to a sort of computer system that is all connected to each other as well. Which means possibly we need the power of the internet to do so. The problem is that there are countries (I guess all countries) where there are areas that does not even have a cellular signal. Then there are some countries that don't even have good electricity to begin win. Just imagine if we ditch cash and there is still those poor parts of Africa. That would be a great hassle for the whole world actually.

May be, you have been talking negative about this new technology just out of fear, or it could be your own perception. But if there are certain facts and figures which have led you hold this stance, then it is really something horrible because all this cashless society really attracts people and majority of the countries are in its favor. We can just hope for that thing which is best for the world and people in it.

[Xising]

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 so. People are naturally not that adaptive when it comes to change. The reason behind this is they fear too much change that could potentially affect their own habitual ways in life, one of these is the current fiat system that we all have. In addition, the government is also a big hindrance to this matter, so it is not possible as of now.

[BTCbengi]

I think there are still many countries in the world whose technology is underdeveloped and they still use paper money as their official currency.

[Sophia29]

Gradually yes i think because people are now open minded about how this economy play us by giving paper we call money , but to some countries like the US where dollar is still great it will take long time for them

[Cosbycoin]

Cash can't disappear, because they support the economy of the country and are led by the state

It would take a lot of time because bitcoin is growing and not only bitcoin and cash will be the other currency as well. For me it is possible because in my country cash will get vanish and it will be extinct. Bitcoin is now being use as a currency and a lot of people are buying a lot of things with the help of bitcoin and online payment is a source of money buying and selling process.

[markleal]

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

Hi there babsalt1975! A great article there, after reading it I discover another advantage of bitcoin or cryptocurrency as a whole. The shop thieves will got nothing by robbing a store that use bitcoin because there is no physical money present, there could be even no cash drawer. Lol. Since Sweden is said to be small country and if their government support the cryptocurrency I think that would be possible. Another benefit to the government is that they don’t need to print physical money that could save them millions. But the problem could be the people that still prefer to use physical money will be not in favor of this.   

[warr1979]

A cashless society has been in the works for along time already. The powers that run this world are slowly getting their way, as the years have gone by I slowly watched the war on cash play out.  Soon they will have their cashless system and then they will have total control over everyone in that system.

It is possible, but really this would mean that everybody must be connected to a sort of computer system that is all connected to each other as well. Which means possibly we need the power of the internet to do so. The problem is that there are countries (I guess all countries) where there are areas that does not even have a cellular signal. Then there are some countries that don't even have good electricity to begin win. Just imagine if we ditch cash and there is still those poor parts of Africa. That would be a great hassle for the whole world actually.

May be, you have been talking negative about this new technology just out of fear, or it could be your own perception. But if there are certain facts and figures which have led you hold this stance, then it is really something horrible because all this cashless society really attracts people and majority of the countries are in its favor. We can just hope for that thing which is best for the world and people in it.

"Majority of the countries" accept the world don't have cash???
No no no, as far as I know, I didn't hear any the government want to manage the country without cash, it's impossible.
It's just your idea and you are putting your thought to others.

[Omega Weapon]

To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.

IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.

This is correct, I like bitcoin and I think we are going to reach wide levels of adoption in the next 10 to 20 years, but not everyone is going to use bitcoin, when it comes to their money most people prefer to play it safe, that is  why you can see people complaining about not affording bitcoin, but if they were given the chance to buy bitcoin at the same price most people are going to pass on the opportunity.

[Flowzer]

I think fiat money will not go extinct. bitcoin does not have a requirement to become a fiat fiat. it's because bitcoin is highly volatile and often changes in a short time. so tifak is suitable to be used as fiat currency. maybe fiat money will just be digital money like ATM or credit card .. not for bitcoin.

[drlukacs]

To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.

IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.

This is correct, I like bitcoin and I think we are going to reach wide levels of adoption in the next 10 to 20 years, but not everyone is going to use bitcoin, when it comes to their money most people prefer to play it safe, that is  why you can see people complaining about not affording bitcoin, but if they were given the chance to buy bitcoin at the same price most people are going to pass on the opportunity.

It is really scary when I holding Bitcoin to keep safe my money while the price of Bitcoin ups and downs strongly as past week. Although the price of Bitcoin was stable higher than $15,000 in past days, but I still see many reason to make me exchange to FIAT or USDT.

[Reid]

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

Hi there babsalt1975! A great article there, after reading it I discover another advantage of bitcoin or cryptocurrency as a whole. The shop thieves will got nothing by robbing a store that use bitcoin because there is no physical money present, there could be even no cash drawer. Lol. Since Sweden is said to be small country and if their government support the cryptocurrency I think that would be possible. Another benefit to the government is that they don’t need to print physical money that could save them millions. But the problem could be the people that still prefer to use physical money will be not in favor of this.   

Yes and also save the environment by doing that. No more trees that will be cut down just crypto currencies all over the country which is circulating. For a small country this could really work.
Then, perhaps other small countries will be taking the next step if they see it working.
I say why not, paper money are loved just because of tradition only. We cannot just let go of it.

[BTCMILLIONAIRE]

To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.

IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.

This is correct, I like bitcoin and I think we are going to reach wide levels of adoption in the next 10 to 20 years, but not everyone is going to use bitcoin, when it comes to their money most people prefer to play it safe, that is  why you can see people complaining about not affording bitcoin, but if they were given the chance to buy bitcoin at the same price most people are going to pass on the opportunity.

It is really scary when I holding Bitcoin to keep safe my money while the price of Bitcoin ups and downs strongly as past week. Although the price of Bitcoin was stable higher than $15,000 in past days, but I still see many reason to make me exchange to FIAT or USDT.

Just make sure to increase your Bitcoin holdings. The price of Bitcoin will go up, meanwhile USD will be worth less and less due to the ridiculous amount of money that the Fed is emitting.

[andyblocks]

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

No, that only means that governments are taking the first steps to start a civil war against people. People who work hard to earn their money will not accept this type of transition.

Even if governments manage to enforce that kind of thing, citzens would use every technology at their disposal to protect their wealth, like cryptocurrencies.

[drunkbillmurray]

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

Cash can't be taken off the world, unless cash has something to be replaced as gold is replaced for cash now.