Does this mean Cash will be extinct?

[reymartH]

Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.

[1714830136]

1714830136

[1714830136]

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[sampalokmix]

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

Not actually to be extinct in a manner. Maybe will be lessen in the consumption in terms of cash but not literally to be extinct because no matter what happen, still there are large population of people who still wanted to use cash even more than the existing cryptocurrencies. Maybe what will be done is that cash will be just used for banking operations and for some countries who still prefer cash but not totally to be extinct in a worldwide manner.

[BTCMILLIONAIRE]

Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.

So for now, or never?

[Natsuu]

Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.

So for now, or never?

Never, bitcoin volatility is one of the factor it cannot replace fiat. It will be hard for the price of items or stocks to be stable due to high volatility rate of bitcoin. Fiat also increase and decrease of value every day but for just a little.

[amih]

in my opinion to make it happen I think it will not be easy need a long process because not everyone understands the existence of the form of virtual currency. this needs a realization long enough.

[wolfgang56]

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 they will totally wash cash away because not all people on sweden are capable to use virtual money so there will still people who will use cash in the market. And because of bitcoin's volatility it will hard for them to cope up.

[BTCMILLIONAIRE]

Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.

So for now, or never?

Never, bitcoin volatility is one of the factor it cannot replace fiat. It will be hard for the price of items or stocks to be stable due to high volatility rate of bitcoin. Fiat also increase and decrease of value every day but for just a little.

The volatility is a moot argument, considering the fact that Bitcoin would keep rising if it established itself as the new store of value. If people could easily spend gold nobody would use fiat anymore. And Bitcoin with LN will make just that possible.

[Naoko]

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 they will totally wash cash away because not all people on sweden are capable to use virtual money so there will still people who will use cash in the market. And because of bitcoin's volatility it will hard for them to cope up.

I would say that too many people will continue to use cash, so they will not disappear

[GeniusAko]

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 is not possible because most of the people in our society to use bitcoin and replace the cash. I am one of the people who are believing that cash will never be extinct.

[Creepings]

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 is not possible because most of the people in our society to use bitcoin and replace the cash. I am one of the people who are believing that cash will never be extinct.

Why are we using the word "extinct"? It is the word we use in living things that is not now available to be seen like the dinosaur and mammoths. The word here is not extinct but replace, still bitcoin may be used by most of the people in the world, still bitcoin will never replace fiat or cash, for not all people will quickly use this kind of currency that is not that trustworthy.

[Sweeet123]

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.

True that, not all the strata of the society have adequate knowledge on cryptocurrencies and their use, it would be really difficult for bitcoins and cryptocurrencies to completely wipe out the fiat currency from the economy

[liseff3]

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

If all other countries followed suit. Inevitably, mean Cash will be crushed.
And at that moment, Maybe bitcoin/cryptocurrency is the only currency they (community) know. But unfortunately, bitcoin / cryptocurrency can not do it, because the supply of bitcoin / cryptocurrency is very limited.

[Oceat]

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

If all other countries followed suit. Inevitably, mean Cash will be crushed.
And at that moment, Maybe bitcoin/cryptocurrency is the only currency they (community) know. But unfortunately, bitcoin / cryptocurrency can not do it, because the supply of bitcoin / cryptocurrency is very limited.

It's just only a single country telling this so the probability is less possible and every country has their different view of any cryptocurrency. Don't just believe everything you see on the internet. A cashless country is not yet workable in our state of technology today even in 2023. Yet technology is quite faster evolving in this millennium but i guess the future technology will soon available after a couple of decades.

[andamers]

In China, in addition to data currency, there have Alipay and WeChat payments, Huawei pay and mipay payments, and internationally, there have Apple pay and Samsung pay.

[etch1]

There are billions of people on this planet who don't even have access to fiat banking, do you think they are going to wait for it to come to them? or pick up the readily available cryptos, at the cost of a cheap smart phone, which, lets be honest, most already have because the value it provides far outweighs the cost. 
There is very little reason to be holding onto bitcoin or any crypto in a first world country, outside of you see it being adopted long term.
The poor have a choice between their own currency which is mostly going down, or bitcoin, which at least goes up sometimes, and the more and more people from these kinds of countries realise their money is safer outside of their system.. then things will take off and development will have to catch up to hype (as it already does)

[Isaacck1]

For me cash will not be extinct due to the existence of bitcoin. First of all there are things that we can do with cash that we can not do with bitcoin, and there are things that we can do with bitcoin that we can not do with cash. I always want to think that bitcoin was created to fill the gaps and holes of cash so the society can make use of their money to the fullest.

[mx667]

For me cash will not be extinct due to the existence of bitcoin. First of all there are things that we can do with cash that we can not do with bitcoin, and there are things that we can do with bitcoin that we can not do with cash. I always want to think that bitcoin was created to fill the gaps and holes of cash so the society can make use of their money to the fullest.

There are some people who argue and express the same thing. People tend to think that without cash the world will get better. Even today the world system has begun to use chips in various aspects and in all places. This will have a significant impact in the world. People who live in traditional markets and poor countries will not be shaken because they still need cash. And people with certain beliefs, will hold their beliefs to not use chips and choose to use other ways. People have even been prosecuted for planting chips inside the body. Hopefully people are allowed to use chips outside the body.

[hajimasan]

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 yes because already many countries are involved in digital payments broadly and are leaving cash system because payments in digital way are more better because easy to pay and accept and access with debit/credit/ATM card and also not matter of getting damage of currency .
And here we can see also it is more better for us in cryptocurrency field Because everything will be online then no chance for the use of bitcoin in offline , tht will leads into no bad use of bitcoin and easy to pay tax to use bitcoin ( easily calculation that how much near to pay tax Because of all things are to be online ) .

[Opekin]

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 yes because already many countries are involved in digital payments broadly and are leaving cash system because payments in digital way are more better because easy to pay and accept and access with debit/credit/ATM card and also not matter of getting damage of currency .
And here we can see also it is more better for us in cryptocurrency field Because everything will be online then no chance for the use of bitcoin in offline , tht will leads into no bad use of bitcoin and easy to pay tax to use bitcoin ( easily calculation that how much near to pay tax Because of all things are to be online ) .

I think you are not aware of what you are saying in here because everything happens on a process even if e don't notice it. Yes cryptocurrencies rapidly conquer the societal market but I don't think that cash will be leaving the system that fast. As long as the government holds on cash as standard basis of payment, cash will still be available to the market.

[NavI_027]

That's awesome, Sweden is very brave for changing their monetary system and it was so admirable.

Going back to your question, if we assumed that all countries will no longer used their corresponding fiat and make it valueless then my answer is a big YES! But honestly, that assumption is very ideal. A cashless world still seems impossible because it's very obvious that they will not allow a new kind of currency (cryptocurrency to be more specific) penetrate their system, therefore, they will still rely on their fiat money.

Let's just accept the fact that other countries' way of thinking is not what like Sweden have.