Is Cash (Paper Money) Still King?

[Egii Nna]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

Cash days can never be numbered, the fact that countries worldwide are planning to launch CBDCs of their own can never make cash to extinction.money or currency in cash form are something of history or heritage since the stone age's.

The fact that digital means of payment are beginning to take over the world in rapid rise everyday can pose a great threat to the existence and usage of cash money but that can never make the existence and usage of cash money to extinction being it  in usage for a very long time passing through decades and still having potentials to keep existing in the future centuries.

Digital technology has pose a very great influence in the modern day life and has make life more easier to us, especially in monetary terms technology has really make trade and other economic activity easier, making people to abandon paper money in favor of credit/debit card or cryptocurrencies but that cannot make money go on extinction because of the great heritage attached to it even if digital currencies take over the world, cash.

[Apocollapse]

It doesn't matter, what matters is as long as you can use or spend that money whenever you want without any problem, it's still your money. It would be a problem and that money would not belong to you if you could not convert it into cash or spend it. If not, don't be suspicious and think that the money in the account is not your money.

You're one of the example what the elites global wants, where they always obey and agree with everything just because there's nothing wrong right now. If you only own numbers on screen, you own nothing. When the digital payment companies or the banks bankrupt, you have no way to withdraw your money.

This is similar like Bitcoin, just because you see numbers on of your coins in Binance, it doesn't mean you own the coins and you're safe.

[stomachgrowls]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

I dont believe that cash would cease to existence, despite on having that digital payments but still there's that function on what fiat can do. We can switch to digital but we do know that there are transactions on which still need up fiat money. Hence, if they will be seeing some lacking then they could easily print out. 
Whats the best on here is that we do have tons of options because we are already living on a digital age on which everything will really be cashless but of course paper fiat wont cease to exist on which as long there's those elites,oligarchs or simply to those who do sit up on the top do exist then there's no way that this thing will be gone.

For us ordinary citizens then lets just embrace into the things on which we do currently have and doesnt matter if it talks about fiat or crypto on which we are really that free on which one will really be that making use of it. We do have difference preferences when it comes into this aspect and its not surprising that there will always be those people who do really hate up that fiat or paper money on which of course its their own view and perception in life but as long it do makes our live more convenient and seamless when it comes on making transactions then this is what surely counts. There's always that balance on which if there's pros then there's cons.

[fruktik]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

I increasingly notice people in stores who do not have cash with them. Yes, you are right. More and more payments are made without cash. After all, the world will soon completely abandon colored paper. Maybe this is for the best. There are pros and cons to both. There is no clear-cut answer at all. To each his own. The hardest thing is for the elderly, who have already gotten used to using paper money. They have been doing this for many decades, and then a completely different technology came to replace it. All these cards and simply contactless methods of payment and settlement lead to a kind of stupor, since it is too difficult to suddenly switch to something new and progressive.

[Abiky]

Paper money are still relevant and I don't see them leaving anytime soon.
They are quite good in making micro transactions not to mention it helps with privacy.
A person concerned about privacy in purchase of a service or product Would prefer paper money
Since it barely leaves any footprint.

I wouldn't necessarily call it King, but I can't also neglect it's relevance and market it's satisfying
Especially in countries and to people where access to the internet is hard.

Countries that lack Internet access will eventually connect themselves to "cyberspace" thanks to satellites and other emerging technologies. It should only be a matter of time before this happens. We should enjoy physical cash transactions while they last. Slowly but surely, cash will lose traction until we fully transition into a cashless society. It could take 5 years, a decade, or even a century.

Once cash (paper money) is long gone, we'll be using physical bullion (Gold, Silver, etc) and even Monero as an alternative. Hard money that's almost impossible to trace. Hopefully, privacy prevails for the good of humanity.

[bakasabo]

The fact that digital means of payment are beginning to take over the world in rapid rise everyday can pose a great threat to the existence and usage of cash money but that can never make the existence and usage of cash money to extinction being it  in usage for a very long time passing through decades and still having potentials to keep existing in the future centuries.

While you say that cash would exist for a long time, the most popular way to use cash is p2p trading. But, since competition on the market is growing, its is hard to stay with one price, so traders would have to decrease their prices. When it was convenient to pay in round numbers like $10, $20 for an item and cash would be a preferable option to pay, economy forces people to reduce prices and paying $9, $19 isnt very convenient. P2p traders dont like to bother with change. Digital payments, its speed and convenience would push out cash p2p trading. Everything leads to digital payment. Carrying stack of money isnt preferable today. A mobile or watch replaces now wallet with several cards and stacks of money. Digital payments make people not to bother anymore with calculation of change, correct price if you buy several items and etc.

[tabas]

Countries that lack Internet access will eventually connect themselves to "cyberspace" thanks to satellites and other emerging technologies. It should only be a matter of time before this happens. We should enjoy physical cash transactions while they last. Slowly but surely, cash will lose traction until we fully transition into a cashless society. It could take 5 years, a decade, or even a century.

I am also certain that it's only a matter of time before every remote area that doesn't have internet access will be able to connect to the web, thanks to the satellite connections that are now available. It is costly to have that service but thanks to the good causes done by the billionaires or whoever sponsors the idea, many will be able to connect. But as for cash, I think that we'll still have it even for a decade or two.

Once cash (paper money) is long gone, we'll be using physical bullion (Gold, Silver, etc) and even Monero as an alternative. Hard money that's almost impossible to trace. Hopefully, privacy prevails for the good of humanity.

While both sides have the good for the humanity. It's so happen that innovation will continue but I am sure that there won't be systems that relies heavily on cash that shall be left behind but will serve as an alternative.

[Salahmu]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

Is already happening because digital payments has taking over and for sometime now I have not even had a cash on my hand to buy anything from any shopping centre because I'm use to digital transactions, though I may not really see it that physical cash transactions days are numbered because there are people who are still saying that digital transactions are not the best because I have heard it from several persons from my place of residence, so no matter how it grows cash will always be available for those who feel is good for them to use unless the time will come when every country will enforce it for everyone to use it else they will not be allowed to purchase anything, that's when it will be completely gone,

[iv4n]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

In developed countries there is a much higher percentage of people who have no contact with cash, it seems to me that Sweden and Norway have some plans to become cashless in the next few years. In some countries the standard is high, but as we go down in underdeveloped countries most people still use cash.

So there is no universal answer to whether cash is still king, somewhere it stops being but in some countries it still is. In any case, cash or card, it's all the same, it all goes through a bank... and banks are evil. We need to leave both cash and cards behind us, only when the majority of the world's population accepts crypto maybe we will see better days for all.

[EluguHcman]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Feel free to share your thoughts. Thanks.

I don't think if cash has ever been on the tag of being king rather what portrays being the king is the parameters that brings the such such as its source.
Imagine Bitcoins potentials today towards how it serves as a store of values, source of income and as well money that can be used for payments.
I think these verities should be considered before giving that that "financial king" on money therefore... Bitcoin is the king even when getting to be compared with other cryptocurrencies.

Money as (cash) only being served as an exchange for payments is not worthy enough as a king and that is why the digital version of money and services is being on a high peak of global adoption as it is todays.

Imagine making a service order for a purchase of goods in a distance like the US and Nigeria and you have your cash at hand to pay for the service, I guess you must be needed to live your country and meet up your clients on face-to-face so you can hand the money over, huh? First it is a waste of time and resources and f transportations.

Imagine human counting the sum of $1M in cash, think about the stressful processes and imagine if you are to pay with a credit card (digital payment), I guess you won't be needed to go forth in on the face-to-face before you can make your payment because you can always process it on the electronic ways and you don't even need to count the money but have it figured based on the outcome of figures that displays on the payment order in either debit or credit response.

If not for lack of knowledge by which everyone would be conversant with the use of digital financial technologies, the paper cash would had been a trash by now and also how the governments who rules the world are aimlessly trying to force the people in the centralized and physical economy system.

[justdimin]

I have to say, using digital payments is really convenient. I no longer have to carry an extra wallet, and I don't have to worry about where I stuffed the clinking coins every time.

Me too, digital payments are very convenient and it's with our smartphones that serves as almost as everything. But I still bring some cash from time to time because not all the places I go have these digital payments that they accept. It's still far from those countries that aren't developed yet or if they do, they're on the process of developing. It will be harder for those governments to print money online when they can easily tracked by that records online where in paper, they can hide it elsewhere that it can be said as something classified.

Yeah, nowadays I can just show my phone, and read some QR, or touch it with their machine and I paid for the whole thing, so simple. I get that it may not be all that easy for everyone around the world, because it is not as easy for them. There are some elderly who haven't learned using that, which I understand, and very old people who still use cash, I can understand that too, but that doesn't mean that we are going to end up with anything larger, we have to focus on how to do better, and that is the most important part, keep growing and the next generation will have something else.

I believe that we also have a lot of places around the world, like Africa and such, where it is not that easy to get these things done, there are a lot of underdeveloped places around the world where this technology would not be possible. So at the end of the day, we are talking about something that younger generation of developed nations can do, rest still depend on cash.

[Dr.Bitcoin_Strange]

Even in my country, the rate at which cash flows has reduced. On like before, you can even withdraw more than $1k from the ATM but between last year and this year, new policies have been made and it's only $25 that an individual can be able to withdraw from the ATM. Even if you go into the bank to seek for more cash, they will not still pay you more than $100, except you are a PEP (politically exposed person) that has power. 
I think that the days of cash flow is gradually diminishing and what is prioritized now is virtual payment.

[mindrust]

In certain situations yes cash is still the king but it is losing its title faster than ever now. Most people nowadays use credit cards because it is way convenient. Especially if you live in a country where the inflation is very high. If you want to pay with cash then you need to carry lots of bank notes in your wallet/pocket and that’s quite irritating. If you live in the US or EU it won’t be much of a problem but in my country it is a huge problem. That’s why almost everyone I know has been using credit cards here. The government here killed cash unofficially by not printing any bigger bank notes even though the inflation is through the roof.

[m2017]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live.

The trend of replacing cash with "digital" money has been observed for several years now. And here it is not so much towards credit cards, but payments via mobile phones that prevail.

This is happening not only where you live, but everywhere, all over the planet.

I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

Cash is becoming a rudiment of the modern financial system and the CBDC will inevitably be accepted for use. Very soon (within a conditional 5-10 years) cash will be withdrawn from circulation almost completely and we will step into a world of completely digital money, where every expenditure or transfer of money will be known to all regulatory bodies.

For those who want to exchange their bitcoins for cash, it will be too late.

[Pakar11220]

Cash is still king in rural areas, where limited digital payment infrastructure ensures its dominance.
In contrast, urban areas have largely transitioned to cashless transactions for convenience and efficiency.
However, even in urban centers, cash remains preferred for small transactions like street food and parking. Local vendors and small businesses often rely on cash due to digital payment infrastructure limitations. Cash coexists with digital payments, serving as a vital means of exchange in various contexts.Its relevance endures in modern commerce, highlighting its importance alongside digital payments.

[Iranus]

Even in my country, the rate at which cash flows has reduced. On like before, you can even withdraw more than $1k from the ATM but between last year and this year, new policies have been made and it's only $25 that an individual can be able to withdraw from the ATM. Even if you go into the bank to seek for more cash, they will not still pay you more than $100, except you are a PEP (politically exposed person) that has power. 
I think that the days of cash flow is gradually diminishing and what is prioritized now is virtual payment.

I don't know why cash is restricted in your country but I think this is only an issue in your country. In my country, things haven't changed much from years ago, cash is still popular and people can withdraw any amount of money they want from the bank.

It is true that stores are gradually adopting online payment, but from what I see, this form is mainly used by the younger generation. Meanwhile, our parents' or grandparents' generation has a lot of difficulty using phones, so they still prefer traditional payment methods.

Not to mention, most children under 10 years old do not have mobile phones, do not have bank accounts...and I believe this is not happening in my country but is the general situation of the world. Because no country provides bank accounts for children under 16-18 years old and parents do not provide bank cards for children to use at will. So I don't think cash will disappear in the next 5 or 10 years like some people predict and the cash era won't disappear as soon as OP thinks.

[passwordnow]

Me too, digital payments are very convenient and it's with our smartphones that serves as almost as everything. But I still bring some cash from time to time because not all the places I go have these digital payments that they accept. It's still far from those countries that aren't developed yet or if they do, they're on the process of developing. It will be harder for those governments to print money online when they can easily tracked by that records online where in paper, they can hide it elsewhere that it can be said as something classified.

Yeah, nowadays I can just show my phone, and read some QR, or touch it with their machine and I paid for the whole thing, so simple. I get that it may not be all that easy for everyone around the world, because it is not as easy for them. There are some elderly who haven't learned using that, which I understand, and very old people who still use cash, I can understand that too, but that doesn't mean that we are going to end up with anything larger, we have to focus on how to do better, and that is the most important part, keep growing and the next generation will have something else.

I believe that we also have a lot of places around the world, like Africa and such, where it is not that easy to get these things done, there are a lot of underdeveloped places around the world where this technology would not be possible. So at the end of the day, we are talking about something that younger generation of developed nations can do, rest still depend on cash.

And it's even easier nowadays if you've got some stable coins on exchanges and you also have their card that you can use for paying. The convenience is there and all you have to do is to be wise on how you're going to spend your money. So, those developed countries have their people enjoy the convenience there. But those that are not yet developed, they will rely on cash and that's the reality that not all countries and places where we go can be used these digital payments or even card payments. And they still stick to the normal process of receiving cash payments.

[rodskee]

Countries that lack Internet access will eventually connect themselves to "cyberspace" thanks to satellites and other emerging technologies.

is there still a country without an internet connection? maybe only communities but at this point in time there’s always a part of the country that has no problem using the internet but poor regions may not have the same access to internet as other parts of the country

this has a lot to do with their economy and the lack of ownership of mobile devices and such

Slowly but surely, cash will lose traction until we fully transition into a cashless society. It could take 5 years, a decade, or even a century.

yeah it will not happen in 5 years yes we are slowly transitioning to digital cash as seen with most transactions these days but i do not think paper money will be eliminated so soon after being used for a really long time and establishing itself as the norm

[alastantiger]

Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?

My honest opinion on cash is me considering it to still be king because we can't do without them yet. Cash is still a valid part of our day to day life despite the digital currency taking over the world. Have some cash at hand always as it'll help you in situations when their is some network failures or congestion on the Blockchain for people that pay using cryptocurrency. As we continue to embrace the new method of payment, cash payments might finally die out but as for now that cash is still important, it's still king. Digital assets like Bitcoin are being used more as an investment than a currency hence not many people want to spend theirs but with cash everybody wants to send it. You can spend cash everywhere and it doesn't depend on the internet for you to spend cash. The local stores need cash payments not digital currency so always hold some cash at hand.

[Abiky]

Cash is becoming a rudiment of the modern financial system and the CBDC will inevitably be accepted for use. Very soon (within a conditional 5-10 years) cash will be withdrawn from circulation almost completely and we will step into a world of completely digital money, where every expenditure or transfer of money will be known to all regulatory bodies.

For those who want to exchange their bitcoins for cash, it will be too late.

I believe that once cash is no longer a thing, people will just use physical bullion (Gold, Silver, etc) or Monero for privacy. Especially drug dealers. The thing is, there's always a way to circumvent government surveillance. CBDCs will give them power. But NOT absolute power. With decentralized technologies already under development, it'll be hard (if not impossible) for governments to take down privacy (and freedom) for good. But that's another story.

With old people still relying on cash for day-to-day payments, it's going to take a while before CBDCs take over the world. So just sit back and relax. There's nothing to worry about.