First we exchanged objects, then coins were invented.
When it became inconvenient to transfer coins, we switched to banknotes. Then banks, checkbooks and simplified all to the credit card.
Will the digital currency be replaced? I think it's a matter of time. In 20-30 years we will forget about purses, fiates and bank cards.
Topic: Do you think digital currency will ever replace paper money? - page 21. (Read 11210 times)
I do not think so that digital currency can replaced the paper money in our government system because bitcoins and other coins does not possessed the physical substance which is primary requirement.
i think bitcoin will survive after 100 years.. it depends on the investors and the company.. if they are weak maybe it will not last.. but as time goes by.. bitcoin should improve there resources and give back what they where earnings.. dont let the rich people get rich instead give chance to the poor to be rich and productive in order for the bitcoin to be successful.. they should target the masses and the once who are loyal and active in investing. maybe in future bitcoin will be the strong source of income in different country.
Yes I agree that the society nowadays are now dependent on technology, gadgets, even digital currency in all the things that they can do more conveniently and in a faster manner but then there is still the silent majority who adapts technology but then still skeptical on digital currency since it needs internet, they don't feel safe, they think that it can be hacked or gone anytime, etc. Plus the government people who will not allow crypto replace their national currency. They will protect their currency and their economy. So i don't think any crypto will ever replace the fiat money.
Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.
What do you guys think?
What do you guys think?
I agree to you that since our society are now more active and more involve in technologies then maybe bitcoin will affect the way of payment in the society. Since its much better to use bitcoin because of its fast transaction even though it had high fees but in the it is worth it and bitcoin also is decentralized and no government agencies that has the power to change the value of bitcoin. It will be replaced but it will take a long time process.
digital currency will be used by many people in the future and there would be no physical currency, everything would be digital. It would still be legally issued fiat currency in digital format by the government/body issuing it.
I will not agree with you although everything can be modernized in the future but we will still need paper money, it is a product that can not be replaced over time, and the government always supports and helps it survive. Digital currency is a new development in the future, it makes the transaction faster and more appropriate in some situations but it still has limitations, and there are many situations is not convenient as paper money, that makes the intention of replacing paper money will be bankrupt
We don't live in a perfect World where everything works great, expecially if we talk about money, but I really think that digital currency can improve things also in our everyday life in some ways, such as less corruption or robbery risks, for example.
If you add every the benefits deriving from crypto currencies, you can also think a World that decentralize money control, which means decentralizing power.
People should be teached to use digital currency instead of paper money, and then to use crypto instead of digital fiat: maybe in some years...
If you add every the benefits deriving from crypto currencies, you can also think a World that decentralize money control, which means decentralizing power.
People should be teached to use digital currency instead of paper money, and then to use crypto instead of digital fiat: maybe in some years...
Yes i think digital currency is the future of currency instead of paper money, If on think about bitcoin for last couple of months BTC become too much famous and get a great value that was not before mostly big companies big brands starts to accept bitcoin that create a great hype and make the bitcoin price and demand increase, So these are the reasons that makes bitcoin strong.
Digital currencies won't replace paper money outright. when digital money, especially decentralised ones get to replace paper money that means governments will be emasculated to some extent. Governments always want to be in control of economies and finances so they won't allow ordinary citizens to control finances. There may be regulations which may create an atmosphere where digital currencies and paper money live side by side. Or perhaps governments will join the digital currency world and try to regulate the markets from there.
Technology is growing globally which means more and more people are associated with gadgets for their daily work like bill payments, fund transfers. So there is no doubt that digital currency will be replacing cash in coming years. Now people are also aware that there are lot of benefits of using digital currency instead of cash.
It has a chance for the digital currency will replace or took the place of paper money. For our technology is growing very fast and everything is beginning to be digital. I can see that we can pay bills and actual products using digital currency in person but still security is still improving.
digital currency will be used by many people in the future and there would be no physical currency, everything would be digital. It would still be legally issued fiat currency in digital format by the government/body issuing it.
Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that.
What do you guys think?
What do you guys think?
There is always that possibility, especially because we are moving into such an age where everything is inclined to the heavy use of technology, and traditional practice are becoming outdated, if not, changed for the better. One of that convenient changes are the use of digital currency like that of internet banking transaction and cryptocurrency. I think it gives people a lot of convenience, but it also opens the doors for different kinds of business ventures that helps not only big business entities, but people alike. Those kinds of changes that benefit masses are always embraced by people.
As the world is moving to a more digitalization there are chances for replacing paper currency to digital currency or crypto currency, crypto currencies makes the work easy of transacting or making payments with the help of crypto currencies world wide by a simple click and a wallet. Most of the Governments have accepted this bitcoin technology some are trying to explore the block chain technology in order to implement this block chain technology in the financial sector, so I think most probably bitcoin will be the main stream in the financial industry which means more chances to replace the paper currency.
I don't think digital currency will replace Fiat, it may later be dominant but fiat will still remain, not everyone can work with cryptocurrent, not everyone will be educated and not every one will be able to operate this technological devices.
I am in favor of the idea that eliminating the paper money and totally be replaced with digital money is also hard to happen, though we are now living in the digital world, considering that we also have some rural areas that are not reachable of the technology, especially in some rural areas of asia. BUT, technically, possibly, digital currency will soon dominate and overpower the presence of paper money especially in the western countries, which is really starting to happen that almost no one pay cash/paper money.
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I do not think that digital currency will be able to replace ordinary paper money in the future. Of course, paper money will be used less and less. But they will not disappear completely.
I absolutely think since change is something that is inevitable, and innovation is one of the targets of each country.Probably someday everything would be done online.
For third world country, it takes a long time to replace the paper money to digital money but some people here are already lives using their debit card and credit card, the others are using both digital and paper money, and the most of the people are using the conventional which is the paper money especially to those who have no permanent job. Maybe someday we will do the same because of bitcoin were very often to introduce to everyone here.
so are you saying that some countries exept third world countries are now a cashless society? i think no, because i see that there are still local currencies circulating around the globe and people are still constantly using it as a legal form of medium in order to purchase something however they also use credit and debit cards as an alternative but that does not mean they can be called cash less or they can replace the fiats and paper money. that is also the same with digital currencies, they are just an alternative and not a permanent replacement.
in my opinion, the function of paper money as a means of payment directly can not be replaced by any digital currency. in real life, not all aspects of life can be reached by digital money, especially in areas that are still not familiar with technology. it will take time and it will be a gradual process as well.
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