Does this mean Cash will be extinct?

[lelylely]

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

Yes, I think it will happen, paper money will be lost and replaced with digital money. Changes will always be there, physical money transactions will be replaced with virtual money, maybe now many are refusing at various parties, but in the future there will be a change.

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[STT]

The reason crypto does so well is cash is already near extinct.    The current exchanged cash notes are of no fixed value and just a promise written on a piece of paper.   Some even mention, I promise to pay the bearer.   Known as a promissory note - https://en.wikipedia.org/wiki/Promissory_note   or a zero coupon perpetual bond.    All cash now is based on debt not value or an asset.

Previous cash was a promise to exchange for silver or gold, an actual fixed value now now paper cash is not superior to any other promise of value except by faith or confidence in the issuer of that debt

[EnricoGomez]

It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

[WolkGold]

It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

In my opinion, cash will still exist and grow in the modern world. It is really necessary and effective and carries great significance from the government and the country. In a certain way, a country's cash will reflect the development of the economy and society. It is still a part of life and a successful tool for the government in running and building the country.

[nur rochid]

It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

many types of people ranging from technology updates to technology-poor, i think to change the cash currency is very difficult and requires a long time. let alone current bitcoiner is still slightly compared to total population of the world

[varun bee]

nordic countries are pretty small in size so their social experiments may not have the same results if applied to a huge ass country, over billion people in the world are unbanked so first they have to included in the banking system and then someone can figure out that now we don't need cash. rest of the world is growing in a different pace and small sample size experiments may not will have many challenges if other countries try to adopt the same model.

[Trivelius]

It is right that cash getting influence rather in the market but it is difficult that due to cryptocurrency fiat will eliminate completely because mostly world population is not more educated to utilize bitcoin. Knowledge of computer and internet to utilize bitcoin is necessary and most important.

Bitcoin usage will surely increase too much in future, but still i do not think that it can eliminate fiat currency totally, people will try to use both the currencies, Fiat will exist because still in modern time most of the people still illetrate and therefore they do not have any knowledge about computer and internent, therefore they will continue using fiat currency for a long long time.

[Bobocantik]

I  don't think bitcoin will go further into that because cash will always be on our default. It is such a big deal for it to be diminished by a cryptocurrency. Bitcoin is such a big crypto and investment but cash is bigger than that. We all need a hard copy of what we put hard work onto. It will be hard to keep everything computer automated system so money or cash will still be needed on any part of the season.

[chrisculanag]

I  don't think bitcoin will go further into that because cash will always be on our default. It is such a big deal for it to be diminished by a cryptocurrency. Bitcoin is such a big crypto and investment but cash is bigger than that. We all need a hard copy of what we put hard work onto. It will be hard to keep everything computer automated system so money or cash will still be needed on any part of the season.

Yeah , your right . Cash is very important in all aspect of our life , and no body will erase this. Bitcoin is for online purposes , its big help too to other but its for online transaction , means if you havent internet connection you can`t make transaction . I think we need both of this ,because both of this have a big help to us.

[maculeth]

no
cash will not go away just because bitcoin is getting popular. bitcoin works as an online payment tool and it will not interfere with cash performance. which would be surpassed by bitcoin is another online payment system like paypal.

[Farvin2]

I dont believe will be soo easy to remove the cash from circulation. There will always remain so many amongst us who will not switch towards digital money and will keep on using paper money. Cash would still be used and bitcoin would be just another form of payment and that is how we will have it.

[TheClownSong]

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

Nordik country always make step ahead compare other country to make their people more prosperous. If cash eliminated from payment, people wealth more safe and its much more safe to store our money on digital rather than paper money. Beside that, for government they can collect taxes more easily. But in third country, I am believe paper money still used because their peoples need adapting technolgy to move foward on digital

[ohkkstaaahp]

Cash never partying. BTCs can never replace cash, because BTCs are not highly liquid, they carry more risk than cash, and requires using BTC you have to know about the application. This would not be suitable for some low level individuals.

[wack slacker]

Cash will survive and will not go away. Remember that what people want is money, it will be money. Money is just a hold of value and is used for exchange. Not all countries use cryptocurrency and not all people have access to and use of electronic devices.

[dogz12]

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

Our country have a hard time coping up with the advancement of technology so i dont think that our local currency would be replaced by digital currencies, not for the next 20 years i guess.

[kyucryp]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

really I agree with you. there is no benefit if we get rid of fiat money. fiat money will still exist everywhere as it is more efficient to use for shopping in small stores where there is no internet network or money-sucking machine. fiat money has been used for centuries is not easy to replace it with cryptocurrency and not all countries in the world agree with digital money.

[Falmera]

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

This is only possible for countries in which all people from all walks of life have unlimited internet connections and gadgets. Fiat money is very important in our daily transactions like buying food and other basic needs including fare. This is impossible for poor countries.

[ShineftChaos]

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 might reach an extinction phase specially if the government will not make nor print cash anymore. But it will take years before it will happen. And it depends upon the effect of this if it more on the good side.

[BertoloyBTC]

Until such time the bitcoin will be accepted in every country around the world, it might make the cash exchange be extinct in the future , but as of  now that there are still conflict between boitcoin and the government institution then the cash will still be use for such time.

[RavenHood]

Cash can’t and will not be extinct even bitcoin, and another cryptocurrency is getting very popular it will not happen. We know that cash is the leading and primary currency that we use and most of the people use it to buy the things they want, pay the bills, and more. Comparing the acceptance of bitcoin into cash, we know that the cash will be the winner.