Topic: Do you think digital currency will ever replace paper money? - page 42. (Read 11210 times)
December 31, 2017, 04:46:28 PM
If I do not think, paper money will never be replaced with digital money. Because many banknotes in use by the community especially less and not everyone can use digital currency.
December 31, 2017, 04:39:43 PM
Society is already abandoning paper money..
Not for crypto, but credit card and debit card usage is becoming more and more common.
Correct, but a complete abandonment of paper money is not possible, we still need some part of the economy to be on cash simply because there are many people that are poor that have no access to the banking industry or that for some reason do not trust in banks.Not for crypto, but credit card and debit card usage is becoming more and more common.
December 31, 2017, 04:05:09 PM
Society is already abandoning paper money..
Not for crypto, but credit card and debit card usage is becoming more and more common.
Correct, but a complete abandonment of paper money is not possible, we still need some part of the economy to be on cash simply because there are many people that are poor that have no access to the banking industry or that for some reason do not trust in banks. Not for crypto, but credit card and debit card usage is becoming more and more common.
December 31, 2017, 03:43:30 PM
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 dependts on the mindset of a population,
if they all think globally/planetary, they wil prefer cryptocurrencies, because their choise of trade partners is vastly bigger when they use cryptocurrencies,
those people thate are more limited or choose to be more limited in their economic and regional movement, are fine with paper currencies.
regards
December 31, 2017, 03:04:29 PM
Paper money is almost out of sight in modern societies, but it's not quite replaced yet. In third world countries it will take a lot more years before It's replaced, although it would come in handy with the bags full of bills that you would need to buy simple things like groceries. In some countries paper money can already be replaced, but in some other countries it will not happen, not in the next decades.
December 31, 2017, 02:52:36 PM
I think digital currency is easier in financial transactions, I am very sure if in the future there will be changes in digital currency transaction tool, if there are regulations governing digital transactions, depending on how much the utilization.
December 31, 2017, 02:13:01 PM
As long as governments in each country have not made a bitcoin-related rule then paper money will never be replaced by bitcoin. But if otherwise, it is undeniable that this rapidly growing technology will make bitcoin to replace currencies around the world.
If the Government will start to adopt bitcoin, merchants will follow. For sure, there will be a lot of merchants who will start accepting bitcoin as mode of payment if there's an approval by the Government. Only the Government can tell if digital currency can replace paper money.
December 31, 2017, 02:08:19 PM
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 doubt if it will happen too soon. Not everyone is aware of cryptocurrency. Maybe of all people could adopt crypto and if our technology and even government could adopt to the system, they would allow crypto to replace fiat money.
December 31, 2017, 02:06:34 PM
Apparently, it already is replacing paper money. I have a friend that's working in a call center and they don't accept cash anymore. They are only accepting VISA and Mastercard. Of course there will be people that are not using cards and those are the elderly who have no idea how to use them. The only way for them to pay in cash is to pay in the post office and then they are going to forward it to their company. It is going to take them 3 to 5 business days and sometimes it even takes 7 days. What they are doing is that they are always telling those people how bad the service is in the post office. There's even a time when the post office have forwarded the orders to a different company and a lot of people have had problems in their account since it appears as unpaid.
The people are starting to be forced to use a card and not paper money so paying bills will be more convenient for them. The same thing might happen to people but the case will be cards are obsolete and cryptocurrency is the new thing.
The people are starting to be forced to use a card and not paper money so paying bills will be more convenient for them. The same thing might happen to people but the case will be cards are obsolete and cryptocurrency is the new thing.
December 31, 2017, 01:56:33 PM
no it will happened ever there must be controlling authority for money regulation
December 31, 2017, 01:53:03 PM
The government has to watch all transaction in order to tax them and make sure the flow of money is legal. So converting to crypto fully will be difficult. However, things like mobile pay will become the norm in just a few years.
December 31, 2017, 01:32:38 PM
As long as governments in each country have not made a bitcoin-related rule then paper money will never be replaced by bitcoin. But if otherwise, it is undeniable that this rapidly growing technology will make bitcoin to replace currencies around the world.
December 31, 2017, 12:14:26 AM
For me its a yes. Because of the unstoppable growth of technology and its innovation, and as we all dpeneds on our mobile phones and etc. From e-loading, to coins wallets online, tehere's no impossibility that soon enough those paper moneys will turn out onto digital currency.
December 30, 2017, 03:49:22 PM
You think small mom and pop shops or gas stations will accept bitcoin and wait for confirmation from each customer?
Paper money will remain here.
Most family shops are accepting credit and debit cards already, so bitcoin should not be a problem, as you say the only problem is the speed of confirmations but we need to see if the lightning network succeeds at making microtransactions available again. Paper money will remain here.
December 29, 2017, 04:37:08 PM
In the far future maybe but it wil be controlled by the banks like Ripple
Bitcoin has messed up with its high price and people just buying and selling to make fiat money so allready the banks are involved and without people being able to cash out for fiat money bitcoin wouldent be worth much to most people. Now Litecoin is going the same way so I think the idea of a decentralised cryptocurrency system is a long way off yet because of its high value and its volatility in price.
We have unwittingly got the banks very involved with cryptocurrencys ...
Bitcoin has messed up with its high price and people just buying and selling to make fiat money so allready the banks are involved and without people being able to cash out for fiat money bitcoin wouldent be worth much to most people. Now Litecoin is going the same way so I think the idea of a decentralised cryptocurrency system is a long way off yet because of its high value and its volatility in price.
We have unwittingly got the banks very involved with cryptocurrencys ...
December 29, 2017, 04:04:07 PM
Solid money will take a long while to disappear, but it seems feasible enough (like everything else that has been rejected by elder generations but accepted by youth growing into a new world). Digital currencies won't replace paper money anytime soon, says Bank of Japan official.
December 29, 2017, 03:58:30 PM
No one can replace paper money in any country because the paper money is regulated by their respective countries while bitcoins have decentralized system meaning that no party set the bitcoin. So bitcoin can't easily is received by a country and replaces the state paper money.
Paper money will not be replaced all over the world but at the same time there are countries like the Nordic countries that are looking to get rid of paper money and are planning in fact to do it in the near future, they can do that since those are some of the countries with the highest standard of living. December 28, 2017, 05:05:45 PM
I think that today Bitcoin is very far from replacing paper money. Since people are still not as informed by this cryptocurrency and do not know of some of its benefits and cons that paper money will surely diminish a bit and so the digital part I will take more power
December 28, 2017, 04:46:02 PM
I think paper money will be gone within next decade, but crypto has a ways to go before you can say it replaces it.
December 28, 2017, 04:10:06 PM
I believe a digital currency will replace paper money some day. Now, what is yet to be determined is whether this option will come from a centralized source or from a desentralized one. It is a known fact that many governments in cahoots with central banks have been promoting the substitution of paper money for a digital form , since, it would be much easier to control the supply and value of it. If it were to happen in a desentralized form, faster,cheaper, and safer to serve the world's ctizens would be ideal. History will tell...
While it is possible that in the far future a digital currency exits and paper money no longer exists, I do not know why people think that only one digital currency is going to exists, just look at crypto despite bitcoin being very dominant in the market we have more than 1000 coins and I think this is going to be the norm in the future. Jump to: