Does this mean Cash will be extinct?

[Cryptolupus]

A cashless society is very possible in theory, but it needs a global technological advancement that - for the moment - it's still far away

[arallmuus]

A cashless society is very possible in theory, but it needs a global technological advancement that - for the moment - it's still far away

Arent we now is most cases dont use cash anymore? There are alot of things that you can pay with nowadays, most people use credit card and some use some form of e-money that bank offered

In some sense it is the same as not using cash anymore so sooner or later we will see cash becoming useless as most people feel more convenience with not having them around

Cash and bitcoin will continue to exist because of the presence of bitcoin nonlan as a competitor to eliminate cash, it can both complement each other because many transactions that can not be done cash or bitcoin everything.

Bitcoin is created to be a currency while cash is a form of fiat currency hold by a country. Do you get what I mean? Both are pretty much the same

[Jose Rizal]

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, this world will not be good if a cashless society was implemented due to the fact that Bitcoin and society were bot good in both different ways, if you are aiming for better orofit try to invest your money in Bitcoin and cash was very good about a small trnasactions. And cash has been used for being one of the safest thing how can you can live with your life.

[Macai]

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

What is best for Sweden can not be good for other countries specially the third world countries. Come 2023, this third world countries may not have lifted up their status and poor people will have a difficult time in coping up with what modern days would offer them.

[dx_twisted]

I'm looking forward to cashless society

Long time ago, the mode of payment in exchange for services or products were pearls, silver, copper, stones, gold and even the product itself was being used. Then follows physical coins that was molded from bronze, and silver. Some were created with a mix of gold and platinum. What follows were paper bills which ceases to use of the earlier mentioned. Today, with the arrival of digital coins, majority of its supporters are looking forward to a cashless economy were everything will be digital. However, since majority of our financial institutions doesn't really accept cryptocurrencies as the new age of money. We're still a long shot of living in a world where fiat money and physical coins become extinct.

[pakohjolok]

to face out all fiat money on one country is not necessary, how about those anyone or anybody that who cant afford to buy gadgets and provide a internet connection, how do they live. i mean how do they make transaction on the physical market to buy or sell goods just to live? this idea is non sense. fiat money is important too and i think more country not to follow if that happens.

[readygoaw]

i don't think that CASH will be extinct there are still plenty of people who would love to used CASH rather than CASHLESS and still there were people who don't know how to used crypto money and don't have any idea about it. for sure there were people will not allow this to be happen just like the poor countries and also for me this will be a long process if this will be implemented.

I see no reason why cash will be extinct. Today they are still important and widely used. In the future, they will probably be less, but they will.

[Saidmod]

i don't think that CASH will be extinct there are still plenty of people who would love to used CASH rather than CASHLESS and still there were people who don't know how to used crypto money and don't have any idea about it. for sure there were people will not allow this to be happen just like the poor countries and also for me this will be a long process if this will be implemented.

I see no reason why cash will be extinct. Today they are still important and widely used. In the future, they will probably be less, but they will.

I agree because cash is still very essential to many people special to the oldies that are not so familiar with using bitcoin because they are not fond of using technology unless really needed.

[Klestar]

Given the fact that bitcoin has a lot of benefits and advanatges as a medium of exchange we cannot deny how fiat are important than cryptocurrency. Not everyone knows bitcoin , not everyone are using it and not everyone are believing on it, even we if we have a technology advanvements fiats will be available and more essential than electeonic generated money.

[Semosuchi Tesongrato]

Be careful, cahsless in cryptoworld is very different with cashless in sweden experiment: bitcoin is the road to freedom, electronic money controlled by government is a stalinian nighmare: think about: it will be as facebook: some admin doesn't like you, and with just a click you don't more have your account!!!

[mulukey]

Be careful, cahsless in cryptoworld is very different with cashless in sweden experiment: bitcoin is the road to freedom, electronic money controlled by government is a stalinian nighmare: think about: it will be as facebook: some admin doesn't like you, and with just a click you don't more have your account!!!

It will take a long time for the cryptocurrency market to replace cash globally but I think this is very likely to happen in the near future. This life operates according to the law of the good, the utility will be retained and developed and the obsolete and inferior things will be eliminated gradually. That's the way the world works and grows.

[Nhobita]

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 not to be literally extinct. But maybe the production and usage will be just lessen since the use of cryptocurrencies such as Bitcoin and other types of cryptocurrencies namely altcoins will be popularized along with the rise of the modern technology which will make it as an easiest way as possible to access this type of cryptocurrency compared to real money..

[jaysabi]

Traditional electronic money is a far greater threat than bitcoin in eliminating physical cash.

I dont agree with you on that point.
You are right that cash won't be directly displaced by crypto currencies.
But after cash wont be accepted and credit cards and EC are the only way to buy stuff (probably in ~5 years), i think those credit cards are going to be replaced
by crypto currencies pretty soon. Credit cards are no way secure and this will become a big problem in the future.
Crypto currencies are a really good approach to fast cash-less buying/paying.
But BTC probably won't be the most accepted langauge since countries are going to start their own crypto coins like russia did with krypto rubel.

First, cash won't disappear in the next ~5 years. That's a crazy expectation considering how much commerce still happens in cash, especially in more rural communities.  Cash continues its decline but it's nowhere near extinct. Second, I don't see crypto being a suitable replacement for credit cards, whether or not cash is extinct. It would necessitate the replacement of the USD, which despite what crypto enthusiasts believe just isn't going to happen. Crypto also doesn't fulfill the roles credit does, which is to delay payment. Instant settlement isn't going to replace transaction where quick settlement isn't the intention of the transaction.

[alfs75]

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

Will if this implementation will done in sweden,that means that bitcoin in there country is regulated to operate and change there traditional currency to digital,but here in our country  that belong in a third world poor country and mostly people would not being educated about bitcoin,and most of all its not regulated,that why it would not implemented right now,maybe soon if the government will make a law to regulate bitcoin as a digital currency business and there's a treaty between cryptocurrency and the goverment panels.

[deppil]

Probably in a far future we'll live in a cashless society.
But at present there is still a long way, as there are billions of people without bank account or cell phone.

I think only old people and poor people who do not use the phone and do not have a bank account. I see developments in the world, even young children now have a special bank account for them. the more rapid technological developments, we can not avoid it, the more days people prefer to shop online rather than go to the physical store, the more there is a new method of payment online, it is a small signal that cash will be increasingly rarely used

[Zeque02]

Maybe it will happen for many years, when internet connection is reachable to all and also when people are well educated about using gadgets and doing the transactions. But for me cash is very essential, it will not extinct because not all store uses such technology for the transaction just like sari sari store.

[Febriana98]

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

Honestly, cash, in my opinion, is not efficient, and I really agree, if the money in circulation, in addition to efficient, environmentally friendly as well...

[balamuda]

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 would be difficult if all countries use crypto money and turn off physical money. If that happens it will certainly have an impact on the country's economy, and this is very risky.

[b1k4ng]

cash money can not be eliminated because all oarang have used it for a very long time and it will still be used by every country and also every country has its own currency to know the status of their country

[aeternus]

i don't think that CASH will be extinct there are still plenty of people who would love to used CASH rather than CASHLESS and still there were people who don't know how to used crypto money and don't have any idea about it. for sure there were people will not allow this to be happen just like the poor countries and also for me this will be a long process if this will be implemented.

Exactly,  I prefer to use cash whenever possible and the reason for that is very simple, I hate using credit cards since you are feeing the system that we are trying to avoid with bitcoin, if you take on debt the bank becomes richer with your debt and misery and that is something that I want to avoid at all costs, so even if cash can be inconvenient at times I still use cash.