Does this mean Cash will be extinct?

[brengoskandel]

I don't think that cash will extinct. There are a lot of dealings that should be compensated by cash. And also most of the deal that requires documentations are need to paid in money. Also not every establishments will embrace cashless dealings.

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[jeluhtajem]

Cash could become extinct as a result of cryptocurrency, but in reality it would still take a century to eliminate all of the cash from the globe, especially in developing countries.

[Fundamentals Of]

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 will eventually happen one country after another. But this will take time considering the huge chasm that divides the world's developed countries and those that are underdeveloped. We know how advanced Sweden is. They are very much capable to shift to a more efficient form of currency. Other countries cannot do that as fast as Sweden. They are even struggling to keep their fiat system running good.

[Martinkuhn]

physical cash will be no more for all countries in the future. it is wasteful to print dollars and to manage the entire physical money supply.

[Farvin2]

There is no one in this world who can tell us what is going to happen in the future. But for me its very imposible to stop using cash, even though the crypto currency will be more popolar in that year its very imposible to stop using cash.

[Davidovic6648]

That is just not possible as it is not everything you can trade with bitcoin. Many things should be taken into consideration. How do you trade with an illiterate with just an online currency? They want what they can give assurance upon so they won't even think of the word "scam"

[yurenchuang7125]

Not convenient, not small, but not recourse.

The fatal "weakness" of digital currency payments is that all transactions are recorded.

And sometimes people want to pay for themselves not to be recorded, like violations or crimes.

In this case, cash may be the easiest and easiest way to pay.

[catcoin524]

Paper currency and coins are still the most common form of payment. for now cash can never be replaced but one day maybe cash will be replaced with a digital currency that is suitable for each country

[awik p]

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 will eventually happen one country after another. But this will take time considering the huge chasm that divides the world's developed countries and those that are underdeveloped. We know how advanced Sweden is. They are very much capable to shift to a more efficient form of currency. Other countries cannot do that as fast as Sweden. They are even struggling to keep their fiat system running good.

right, maybe it could be for swedish because the people have advanced. but this will be difficult for developing countries because there are still many people who have not been able to enjoy internet, for that i think it takes a long time btc can be used majority of the world population

[posi]

In the ages time what they spent was gold and coin before bank note overthrow,so i think the samething will happening to fiat. In addition, people day to day transaction are done through the pos terminal, ATM and crypto currency with this I believe cash note will be extinct sooner or later.

[Yantoaja]

Maybe yes, but it will take a century to get it done. If people trust invisible money on internet and feel more comfortable to use it in daily basis instead of always carrying physical cash in every situation. It may different in first world countries and third world countries, but people will trust digital currency or digital form of money without see it leave their pockets. Centralized or decentralized system will be there to make sure digital currency distributed and being used safely.

[Lang09]

This is far from coming a reality. Having a cashless society is not as easy as many think. Not everybody got the minimum of knowledge that allows them to use bitcoin without mentioning people who still even do not have access to the internet. It needs serious international plan to integrate bitcoin in the society and eliminating cash is still a fantasy for now.

[webdevmastery]

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 will not be extinct but there is a huge chance for people to use cryptocurrency even more and in the future, fiat will be only used by those people who have no knowledge about cryptocurrency.

[CuriousGeorge]

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 will not be extinct but there is a huge chance for people to use cryptocurrency even more and in the future, fiat will be only used by those people who have no knowledge about cryptocurrency.

In the future when the rate of human illiteracy is near to zero or even as equal as zero, cryptocurrency will be viable to the majority of people in the future as the illiteracy rate decrease by the time being and what that does mean? a total extinction for paper money just like those stupid seashell that's being used as a trading tool.

[WakinXXX]

Think that though the bitcoin proceeds now, but it seems that cash won't be replaced with any currency because many things can be reached due to use of Fiat forex which can't be occasionally executed with bitcoin therefore forex fiat potential never should be replaced functionally

[Mariadelan25]

It seems just nonrealistic to me. There can’t be a society that doesn’t have cash. Leave under developed countries, if you talk about developed ones, even everything is customized and technologized still cash is there. And you need it whenever you are moving and eating and all that daily chores. So bitcoin will be in pair with cash, it can’t make it extinct.I really dont believe think of this fact

[vaughn125]

It seems just nonrealistic to me. There can’t be a society that doesn’t have cash. Leave under developed countries, if you talk about developed ones, even everything is customized and technologized still cash is there. And you need it whenever you are moving and eating and all that daily chores. So bitcoin will be in pair with cash, it can’t make it extinct.I really dont believe think of this fact

Yes, you are right. This is just so impossible to happen as of today since it is really hard to change the ways that most of the population in this world has gotten used to. Specially those people that live in poor countries that has little to no such this as internet connections(people that live in the remote areas of a poor country), some don't even have smartphones. That alone would be the biggest hindrance of bitcoins or any crypto replacing fiat of a country. There are still a lot of things I haven't mentioned but believe me, there really are a lot of them.

[Hypnosis00]

It seems just nonrealistic to me. There can’t be a society that doesn’t have cash. Leave under developed countries, if you talk about developed ones, even everything is customized and technologized still cash is there. And you need it whenever you are moving and eating and all that daily chores. So bitcoin will be in pair with cash, it can’t make it extinct.I really dont believe think of this fact

Yes, you are right. This is just so impossible to happen as of today since it is really hard to change the ways that most of the population in this world has gotten used to. Specially those people that live in poor countries that has little to no such this as internet connections(people that live in the remote areas of a poor country), some don't even have smartphones. That alone would be the biggest hindrance of bitcoins or any crypto replacing fiat of a country. There are still a lot of things I haven't mentioned but believe me, there really are a lot of them.

Exactly, the extinction of cash is too much of a change since not all the countries in the world has that access to bitcoin in a such that they can make profit from it. We can't deny the fact that not all countries are having a good situation in their economy and their way of living, and removing something that they've been recognizing as their primary trading material in their country. Bitcoin will only be a way for us to gain more cash, but bitcoin will not replace cash because not all can access it and also not all countries are agreeing with it.

[Crazygreek]

Not sure but isn't anything nowadays can be hacked? I am pretty sure that after changing cash on digital money we will read news about problems with system almost every day!

[lokanot0]

From gold to coins, coins to papers, papers to digital currency. This is the shifting future of our currency that is unavoidable. We tend to aim for a hassle free world which sometimes result in a good or bad way.