paper money? then who would print them? an independent and incorruptible organization? I think it's utopia.
Topic: Alternative currency ( paper money ) - page 3. (Read 906 times)
If there was an alternative currency (paper money) unregulated by the Government would you use it?
It makes no sense to use paper money issued by someone. Paper money is, as a rule, the obligation of a country to redeem a paper note at its face value from you if you have problems selling it. Paper money is also provided with the material goods of this country.Such paper money will be absolutely useless and will not be in demand. In addition, surely they will have very low protection against fakes.
Cryptocurrency are highly use cryptocurrency in this time. And i don't think so that cryptocurrency fully take over paper currency. Cryptocurrency are digital in nature so in order to access it you must need Internet but in some place Internet not present so in this area paper currency are highly used. Paper currency are less volatile where as cryptocurrency are highly volatile and because of this paper currency are highly used. And papers currency are easy to use and trusted.
The money I do not think that will be in demand, either within a community or company. They have no way to the world arena.
Unregulated paper money? I would even be charged of doing something against the law so I won't bite the trap.
Like what everyone says that will be illegal and you will be fined or worst be in jail for doing that when caught.
Like what everyone says that will be illegal and you will be fined or worst be in jail for doing that when caught.
I probably would not use it. What makes money "money" is not about whether its printed or electronic its because its being accepted as a medium of exchange and attached value. Remove those from it, its just a worthless piece of paper.
And again, the term government goes beyond an elected body at the national or states level or any constituted authority. A mere coming together of some people to control something is a form of government on its own because they would be deciding for others. As it relates to paper currency, it cannot be unregulated as some people would have to be ensure its printed, its secure, the value does not drop, its relatively scarce, its in various units, it does not leads to inflation and all of that is regulations.
And again, the term government goes beyond an elected body at the national or states level or any constituted authority. A mere coming together of some people to control something is a form of government on its own because they would be deciding for others. As it relates to paper currency, it cannot be unregulated as some people would have to be ensure its printed, its secure, the value does not drop, its relatively scarce, its in various units, it does not leads to inflation and all of that is regulations.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
I doubt if there is any way that would have happened when it comes to the paper money. The question you need to ask yourself first is that who is printing it and how is it distributed? It does not sound like anything plausible to ears which is why I see no reason why we should even be trying to think if it is going to be used or not.Moreover, in this kind of scenario when there is no regulation at all, just like we are having in the crypto space today, apparently, everyone will want to be coming up with their own notes for some reason, and how do you think that would have actually turned out considering it is a paper currency.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
No, because it would be illegal, and I don't want to risk getting caught simply for using a currency. Besides, any paper currency is inherently centralized, so its users would risk getting scammed by those who emit this currency if they will decide to just print more. Bitcoin has no such drawbacks, so there no point in unregulated paper money. If someone really wants an alternative physical currency, they should use gold or other commodities.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
I think it is impossible to have alternative currency like paper money which is unregulated by tge government. If there is i am sure government will collect it,ban it or find a way to regulate it,like what government want to do in cryptocurrency now.
Yes there is, for example Bristol, England - they do have their own currency which is accepted in many shops. Another city, Hull, was going to run their own cryptocurrency but I don't know how successful they are. Some cities popular with tourists also run their own currencies e.g. Polish Łeba.
Interesting article: Local UK currencies
Hmm. That is actually something interesting and I have not actually gotten to hear something like that before and apparently with this kind of thing, that is because it was generally accepted by the people within one specific niche if I may say just like you mentioned with the tourists in popular cities. Nonetheless, i feel it is still something that would not really fly that much. Interesting article: Local UK currencies
In that case, you should imagine the number of currencies that would actually be available in a single country and if you have to travel globally, how do you think people will be able to relate with themselves to even know what you are holding is a thing worth some value?
Have you been to altcoin exchange lately?
There could be some universal currency like bitcoin... maybe bitcoin itself.
Also, these local currencies are created by locals and for locals to avoid e.g. unfair rules associated with government printed money. I don't think they care that much about global acceptance.
If it has not been approved by the government, I will not use it, but if I have received approval from the government, then I will use it as a payment instrument.
I don't think so bitcoin can vanish paper currency. Paper currency are still use at many place for different uses. In bitcoin is a digital currency and in order to run it their is need electricity and Internet but in many place these things are not available, so in those place paper money is only one alternative to use. Another thing is bitcoin is not a legally accepted everywhere. In many place it is ban. Where as paper currency are legal everywhere. Many people don't know how bitcoin work and it is an complex thing to understand but paper coin are simple to use.
Its mostly seen as illegal to use undefined or self issued currency not minted by the government of that nation. I've heard of a few cases where people just turn out plain metal discs and have gotten into trouble because it was seen as a kind of counterfeiting operation that undermined the tax regime.
If you want to use currency outside of your own countries, its better to take up the established currency of a sovereign nation. In some cases you can hold a gold or silver coin that is still widely traded and accepted as valid. I realise some will argue its perfectly fine in theory but in practise it raises eyebrows and some alarm. Just carrying around large amounts of cash can cause forfeiture for example which is not exactly fair but common as an offfence because of the drugs trade unfortunately
If its going to paper money than there is no need to really use it since it can't be unregulated. The reason why bitcoin and all other crypto is so great is the trust system it has with blockchain backing it, paper money can't be backed by blockchain hence I think it will be "too unregulated", I need to have that regulation come from people and not government and if something is unregulated by governments than that's fine but if its unregulated by the people as well than that creates a problem. That is why there has been digital currencies before bitcoin but none actually took off like bitcoin did.If you want to use currency outside of your own countries, its better to take up the established currency of a sovereign nation. In some cases you can hold a gold or silver coin that is still widely traded and accepted as valid. I realise some will argue its perfectly fine in theory but in practise it raises eyebrows and some alarm. Just carrying around large amounts of cash can cause forfeiture for example which is not exactly fair but common as an offfence because of the drugs trade unfortunately
If there was an alternative currency (paper money) unregulated by the Government would you use it?
There are numerous occasions in which such money issued and of course we use them because we all love having fun. I'm talking about toy money, or play money, if you prefer, for various table games we all like to play with our relatives and friends. There is also a kind of toy money for parties which you receive for performing a dance routine, singing a song, reciting a poem etc. Although you can't go to a normal store with that kind of money, you can buy a lot of things with them at the party, like drinks, snacks and sometimes even kisses of a beautiful woman.
But apart from for fun, I would never use paper money which wasn't backed by any government. I mean I wouldn't sell a thing for them to a stranger because there could be no guarantee that you will be able to buy something with them tomorrow.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
Is there something like that? It would be fake if there is unregulated paper money circulating in the community. Such question is not a deal to begin with and cannot be true due to the government not allowing such currency.
Yes there is, for example Bristol, England - they do have their own currency which is accepted in many shops. Another city, Hull, was going to run their own cryptocurrency but I don't know how successful they are. Some cities popular with tourists also run their own currencies e.g. Polish Łeba.
Interesting article: Local UK currencies
In that case, you should imagine the number of currencies that would actually be available in a single country and if you have to travel globally, how do you think people will be able to relate with themselves to even know what you are holding is a thing worth some value?
https://en.wikipedia.org/wiki/Private_currency
Private currency is rare due to regulations severely restricting it.
But loyalty programs and gift cards are in a way forms of private alternative currency.
Gift card codes can often be exchanges for Crypto currency. Some of the first crypto exchanges did that.
Private currency is rare due to regulations severely restricting it.
But loyalty programs and gift cards are in a way forms of private alternative currency.
Gift card codes can often be exchanges for Crypto currency. Some of the first crypto exchanges did that.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
Will the money have a value? Or will the money have a function with properly?Actually, if cryptocurrency, especially bitcoin only has a function as a payment system, just like fiat money, l less confident bitcoin will survive until now.
Moreover, cryptocurrency has a digital form so any government that will stop the growth of cryptocurrency will find many difficulties. They cant destroy cryptocurrency, just pale to giving regulations on what they accept or prohibit.
Can you imagine, if there is a money paper as an alternative currency, can everyone use it without having to feel worried? Most likely the money will not run well and even everyone will consider it to be counterfeit money.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
Why would I use it? what's going to be the purpose? Well yeah and if we take it literally it's funny. And if there will be one I'm sure that government won't permit this to be in the circulation since it can be use in illegal activities and yeah I'm sure it will be worthless.
Anything that our government didn't acknowledge won't have a value while the cryptos is another story since it's decentralized on its own.
If there was an alternative currency (paper money) unregulated by the Government would you use it?
If government issuing alternative currency, it must be regulated. If government issuing new currency, i think most people in the country will use it because money is about trust to government
If there was an alternative currency (paper money) unregulated by the Government would you use it?
The notion of value is completely subjective.
If other parties within my immediate area are able to accept this as a form of payment, then sure, given that the authority who issues it isn't just some random guy with a printer but actually has enforceability in making the currency legal tender or at least, accepted.
However, if it's just paper money issued by another entity without any backing, then I definitely would not use it to store wealth. I'd much rather stick to my decentralised assets for that.
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