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Author Topic: Do you ever wonders why we are using this paper as money?  (Read 1610 times)
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December 04, 2018, 03:49:30 PM
 #181

I do not wonder why we are using this paper money nor wanted to think about it.  First, it has been used for centuries and its proven not "broken"   somehow since the world did not diminish while using it.  Honestly, be glad you do not have to carry a huge stuff to barter for any items you like.  Imagine carrying a camel to barter for some TV or something?  Anyway cryptocurrency is an improvement so I am incline to it.  It is the same as paper money, made out of thin air.  See the example, ICO's they are paying their bounty hunter with cryptocurrency token.  Where did they get that?  At least paper money have value unlike many of those cryptocurrency token that is plain trash(I am not saying all cryptocurrency are trash though).  

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December 04, 2018, 04:19:37 PM
 #182

They don't understand what bitcoin is and for someone that doesn't know anything about, he can tell whatever he want.

He may call it scam or ponzi which is usual within the community but we're immune to it.
Yes still lot of people don't know anything about blockchain but still they are having bitcoin and calling it as bubble or scam or ponzi whenever the prices are getting low.First of all it is not created to replace the fiat money in my opinion but if we can do that then our future can be better just because we can get away from the inflations and centralization.

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December 06, 2018, 03:59:29 AM
 #183

They don't understand what bitcoin is and for someone that doesn't know anything about, he can tell whatever he want.

He may call it scam or ponzi which is usual within the community but we're immune to it.
Yes still lot of people don't know anything about blockchain but still they are having bitcoin and calling it as bubble or scam or ponzi whenever the prices are getting low.First of all it is not created to replace the fiat money in my opinion but if we can do that then our future can be better just because we can get away from the inflations and centralization.
They love to flame the us, the people that believe on what bitcoin is heading in the future.

They love to see us getting disappointed and would tell us that bitcoin will never get up again. They are even more concerned than us.

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December 12, 2018, 10:21:00 PM
 #184

They don't understand what bitcoin is and for someone that doesn't know anything about, he can tell whatever he want.

He may call it scam or ponzi which is usual within the community but we're immune to it.
Yes still lot of people don't know anything about blockchain but still they are having bitcoin and calling it as bubble or scam or ponzi whenever the prices are getting low.First of all it is not created to replace the fiat money in my opinion but if we can do that then our future can be better just because we can get away from the inflations and centralization.
People love to talk about things that they do not really know anything about, they want to give the impression that they know about everything and it is very interesting because those that know nothing about it seem to be the ones that have the strongest opinions but that only shows their ignorance because if they knew anything about bitcoin they will never call it a ponzi or a scam.

 
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December 12, 2018, 11:01:09 PM
 #185

Paper money are more convenient to use by all people in the society. Rich or poor can use it anytime anywhere. And it was legally acceptable to use. Not like cryptocurrency.

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December 12, 2018, 11:01:25 PM
 #186

in fact, the paper money we use today is the evolution of the barter system that we have previously adopted... and in the future I'm sure the way we transact will change, we won't use paper money anymore, but we will use digital or crypto money.

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December 12, 2018, 11:12:01 PM
 #187

I am from the USA and I have found that there is a strong (albeit delusional) belief in the dollar, especially from the baby boomer generation who has experienced mostly economic prosperity throughout their entire lives. Nothing against them or anything..I am not a millennial so don't hate me!
Yeah, everyone believes in the dollar because there hasn't been a crisis in their lifetimes--nor mine, and I'm also not a millennial.  I don't think I've ever met anyone who thinks the dollar is still backed by gold, although I'll admit that those aren't the kinds of conversations I typically have with people.

The fact is that a lot of folks have hated paper money since it was first issued.  I'm no history expert, but I know there was a time in the 1800s and before when if the money in your hand did not have intrinsic value, i.e., if it wasn't made out of precious metals, it was just funny money.  A lot of those people wanted gold or silver only, and it would be interesting to see how they'd react to today's world, where not even paper is necessary to buy or sell something.  I think they'd be baffled by the concept of something like cryptocurrency or even paying for groceries (or whatever) using your phone.

Thank you for writing an intelligent post in the sea of shitposts that this thread is.

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December 13, 2018, 02:59:48 AM
 #188

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
The fiat currency is still the currency that the people in our society prefer to use. They say it because fo them i is more convenient to use than cryptocurrencies. Lack of awareness is still the main factor why people can't easily adopt bitcoin.

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December 13, 2018, 03:07:27 AM
 #189

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
The fiat currency is still the currency that the people in our society prefer to use. They say it because fo them i is more convenient to use than cryptocurrencies. Lack of awareness is still the main factor why people can't easily adopt bitcoin.
currently with fiat currency, we can buy in any store, with this convenience most people still use it. different from cryptocurrency, where it can't be used in all places, maybe there are still a few that facilitate it even in my country, because the government still forbids it to transact

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December 13, 2018, 03:28:11 AM
 #190

I do not wonder why we are using this paper money nor wanted to think about it.  First, it has been used for centuries and its proven not "broken"   somehow since the world did not diminish while using it.  Honestly, be glad you do not have to carry a huge stuff to barter for any items you like.  Imagine carrying a camel to barter for some TV or something?  Anyway cryptocurrency is an improvement so I am incline to it.  It is the same as paper money, made out of thin air.  See the example, ICO's they are paying their bounty hunter with cryptocurrency token.  Where did they get that?  At least paper money have value unlike many of those cryptocurrency token that is plain trash(I am not saying all cryptocurrency are trash though). 
Paper money has value because the economy of a country. many aspects that affect the value of paper money. without this then paper money is only a paper. so here paper money is just a symbol of the economy of a country. and you can't say that one coin is not worth anything at all. because there are many aspects that make coins in crypto valuable. why are we still using paper money? because the currently technology is not supported for the digital currency
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December 13, 2018, 03:53:01 AM
 #191

I do not wonder why we are using this paper money nor wanted to think about it.  First, it has been used for centuries and its proven not "broken"   somehow since the world did not diminish while using it.  Honestly, be glad you do not have to carry a huge stuff to barter for any items you like.  Imagine carrying a camel to barter for some TV or something?  Anyway cryptocurrency is an improvement so I am incline to it.  It is the same as paper money, made out of thin air.  See the example, ICO's they are paying their bounty hunter with cryptocurrency token.  Where did they get that?  At least paper money have value unlike many of those cryptocurrency token that is plain trash(I am not saying all cryptocurrency are trash though). 
Paper money has value because the economy of a country. many aspects that affect the value of paper money. without this then paper money is only a paper. so here paper money is just a symbol of the economy of a country. and you can't say that one coin is not worth anything at all. because there are many aspects that make coins in crypto valuable. why are we still using paper money? because the currently technology is not supported for the digital currency
so true. besides, paper money is also a simple and easy payment tool. of course most people prefer this to digital, because not everyone understands this development. however, I heard that some countries make their digital money with the same name as the fiat they manage.


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December 13, 2018, 04:40:30 AM
 #192

Less than 100 years later, two competing currencies were used to finance the opposing sides of the Civil War. Their values fluctuated with the fortunes of the war. Yet, it wasn't until the National Banks Act after the civil war that the U.S. government introduced a monetary system where banks could issue paper notes based on their holding of government bonds. These disparate currencies were taxed out of existence in the following decades and replaced with national bank notes, giving the U.S. its first uniform paper currency.  [Source: Investopedia]
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December 14, 2018, 06:19:19 AM
 #193

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
You’re using because the paper is not just paper, it’s a paper with value. If it doesn’t have any value then you wouldn’t be making use of it. It also makes things easier compared to other monetary systems or whatever you might call them. Just imagine that you were still making use of the barter system or maybe still using gold, that wouldn’t be easy to carry around. But whatever, let’s take things as we see them.
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December 14, 2018, 08:07:50 AM
 #194

Because they are light, fit the size of normal hands and can be carried with you easily. For once they were an innovation from gold and precious metal because of is convenience though. But then giving all money to your bank and just carry tiny cards appeared and became even more convenient, and everyone started using it. Soon people will see the superior convenience of cryptocurrency and make the switch eventually.
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January 04, 2019, 04:33:35 PM
 #195

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
If you learn more deeply how the economy of any state works, you will not write nonsense that the national paper money of states is created from the air. Paper money of the states, their quantity and value depend on the level of development of the state economy and the growth of its gross domestic product. Roughly speaking, the amount of banknotes at par should correspond to the amount of material assets of the state in circulation. The exception to this general rule is only a dollar.
But the cryptocurrency can be said to be created from the air.

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January 04, 2019, 04:56:28 PM
 #196

As far as i know, the paper money is actually backed my nothing! Its just a currency that has been declared legal and the people are blindly using it since it is "legal". The value is mostly derived by the supply and demand and there are some fixed ways to keep the value. Just google it and you will understand.
By comparing this with crypto currencies, the value of crypto seems be making more sense. And for this reason people compare cryptocurrencies with gold and silver. Moreover, people are seem to avoid complexity and stick to the old financial system, specially the old generation people. That is why people are still using paper money - the easiness and the support of government.


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January 04, 2019, 09:22:18 PM
 #197

When bitcoin becomes mainstream across the globe paper money will be useful as toilet paper. Paper is easy to transport in the analogue world, but now we will be paying using our smartphones with bitcoin wallets via RFID

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January 04, 2019, 11:33:04 PM
 #198

When bitcoin becomes mainstream across the globe paper money will be useful as toilet paper. Paper is easy to transport in the analogue world, but now we will be paying using our smartphones with bitcoin wallets via RFID
Not totally paper money will losing its value. Even bitcoin will announced to be legal and verified by the government, still we have to use paper money especially for the remote areas where there is no internet connections. We cant put to an end, instead we consider it as another option of currency to be used for payment and any other purposes.

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January 05, 2019, 01:03:11 AM
 #199

all matters relating to legitimate transactions in a country, must be approved by the government, and all are also regulated by law. so we can't protest why paper is made money. if someday bitcoin is legalized by the government, it is not impossible if money is digital.
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January 06, 2019, 06:29:47 AM
 #200

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
Even if they are made out of thin air, they still have value and are far much better than other systems you may have chosen. You can’t choose trade by barter, will you? Nope you won’t. Even if you talk of using Bitcoin, you know that’s not a better option. Paper money is physical and that helps us to make use of it anywhere no matter what, you don’t need internet.

Banks now makes it easy for us, we don’t have to carry money around, you can easily make transaction through your bank without having to be there or whatever. Fiat lots of advantages over crypto. Crypto do have advantage which is being fast and less cost of transaction.

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