Do you think digital currency will ever replace paper money? - page 5.

Irvinn

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

Digital money can never completely replace real paper money. In any society people who will resist the use of the crypto currency will be crouching. In addition, there are many other objective and subjective reasons for this. First of all, the volatility of the crypto currency. every time you go to the store, visit any outlet, you will see completely different prices. And economic planning and monitoring of budget execution will be simply impossible.

icohunter1024

jr. member

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I think the money and the paper money will exist in parallel, the money does not completely replace the paper money. Unless the world becomes freer when people no longer depend too much on governments

tdtduy

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With the development of technology, Cryptocurrency is a trend. So virtual currency, digital currency is an indispensable trend. Bitcoin with its special advantages will be one of the preferred coin to use. However, cash still has its core values that no one can replace. That does not mean that cash is permanent, and at some point, technology will replace paper money, but that day will be far away.

zmkriel

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

That is if all the countries will be in favor of bitcoin and the central banks would just let it go and not to make a move that will interferes the progress of bitcoin. As we all know that the government have a link to banks right? What if the government will be more in favor of banks because from there they cound trace every transactions of individual for taxation purposes? Most probably the reasons why there are counties now that banned cryptocurrency and made it illegal. Sad but that is how it goes.

kirgir

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of course) all of this leads to the fact that now cards have almost replaced paper money, but now the digital currency (in many countries) is legalized, so there is no doubt about it)

naldal kaka25

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I don't think digital currency will not replace paper money. It will definitely not happen in a decade or two. As a large portion of people still don't know about digital currency.

yujli

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I agree,The world is involved in more technologies, so there is no doubt that digital currencies will eventually take over. Even before the cryptocurrency comes into effect, the banknotes have faded because it is easy to use a debit or credit card to pay online or through a POS machine in a physical store. Another reason I think this is very likely is the convenience of the transfer. It is easier and “safer” to carry and pay the $100,000 digital currency that carries hard cash papers. Finally, there are arguments for climate change. We must protect our trees. Does that mean using less paper? Therefore, since there is an alternative payment method, we still get real value for the transaction, then this is the way to go. Sustainable payment of transactions

luisdvmd25

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I think that Bitcoin would replace the paper money since there will be a digital revolution that occurs in the future.But the point here is that we will be a cashless society in the future and the currency is bitcoin.

eert

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Yes, I think that digital currency will certainly replace paper money in the future, because my country has started to use paper money very rarely. If we all use digital currency, then our lives will become very convenient. With blockchain technology, our world will become more and more trustful.

Arata

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The function of paper money or the legal currency of a country will never be replaced by bitcoin or anything. Why? because I think a paper currency or a country's legal currency is a means to control a country's economy and bitcoin is not eligible for currency. Fyi, there is a basic theory and a requirement to make something as a currency.

siap86

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

Maybe Bitcoin is more like a digital asset than a currency. Assets are only valuable if others are willing to exchange them in return for goods, services or other assets. Gold is one of the most liquid assets available. Wherever you go you can trade it for any local currency. I think Bitcoin is like gold but can not yet replace fiat money.

fernandoaleixo

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Community Manager at Bitsurf.eu

No, if we think realistically we can see several reasons why people won't adapt fully to digital money, specially in isolated places and poorer countries which population can't really afford or have the means to keep using this form of currency.

eriwis

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

Based on Bloomberg data, trends in the use of Bitcoin and other cryptocurrencies have increased rapidly in the world. They believe the Bank will absorb Bitcoin as long as its capitalization is more than $ 500 billion. Hopefully it will happen in the near future.

cokkapaga

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I am not sure the digital currency or cryptocurrency will replace paper money or fiat money.
Not all people are using digital currency in the world, So we keep need the fiat money or paper money to process transaction in the real life.

Zaidaskin

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Bill Gates said, crypto currency like bitcoin can be used to buy goods without intermediaries, meaning less need a bank. Although traditional banking systems may charge high transaction costs, bitcoin allows global transactions to take place at a lower cost. Gates asserted that bitcoin technology is a technology that can make money move between countries easier and get costs down drastically, but he also believes criptocurrency will not replace the old money.

Biasaae

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

According to some economists, in addition to many advantages, Bitcoin also has some problems that make it difficult to replace conventional currency. For example, Bitcoin has no underlying. In addition Bitcoin does not have credit mechanisms such as conventional currencies.

PutuPartoHarjo

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Quote from: lazygin001 on August 29, 2017, 06:24:42 AM

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? Wink

I think it will not happen any time soon. Because to realize it first of all the digital currency must be accepted globally. But I believe blockchain technology will be adopted globally in the future.

Kodok Bencot

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Quote from: MrRiuss on April 11, 2018, 04:13:51 PM

i think in the near future paper money still number one.

I think everything can happen, with the more glorious cryptocurrency has made big companies develop blockchain so that it becomes easier to use, the stronger the marketing technique the chances of beating the bitcoin more real.

arbiterh2

newbie

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Quote from: jackjones53 on April 11, 2018, 07:24:19 PM

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.

Digital currency is definitely going to replace paper money. No brainer on this. It will take perhaps a century, but digital currencies (I'm not talking decentralization) are far more friendly (for everybody) than fiat!

salamyman

hero member

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I don't think there will ever be anything as fast and error free as handing someone something.
The digital world always hâd errors and delays.
Just my 2 cents.

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