Topic: Do you think digital currency will ever replace paper money? - page 55. (Read 11190 times)

In my opinion, digital will never replace paper money. Even if in today's world everything gets digital. Paper money will never be lost because, we still need some physical value in case of emergencies like if we've run out of battery, we are out of coverage and also not all people can afford cryptocurrency. However because of cryptocurrencies and other ways of paying and transacting more efficient, the use of paper money may be lessen in the future.

I think no, Cryptocurrency will never replace Fiats or Physical money. All of the people in this world are very familiar and they all know about fiats but many of the people are not familiar with the cryptocurrency and poor people cant access of it if Digital currency replace fiats. All i know is Crytocurrency is the currency that is added to the fiats. It can exchanged to fiats by cashouting. And Crypto will hard to pinned out the value if the fiats has been replaced by digital currency.

Yes, possible.
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.

Paper money never gets replaced by digital currency, even now there are countries that has generated their own digital currency for transaction within the country. None has made bitcoin the primary asset and kept paper money as an secondary asset for regular needs. In this I'm sure that bitcoin or some other digital currency replace paper money.

I think he meant to transact bitcoin or other crypto currency instantly with the bitcoin wallet he is using. There are a lot of bitcoin wallets that let their user transact bitcoin almost instantly if you will be sending in the same bitcoin wallet under the same provider obviously if it's different, it will be having some time. Bitcoin will never replace paper money unless the government create their new crypto currency and replace their fiat circulating the country but still with that fiats will still circulate in the country.

Yes, it is possible because in some countries nowadays have a cashless society like Belguim, France, Canada and U.K.  They used online tools for payment like Paypal, NFC Payments by smart phones or electronic cards.

So yes it is possible because some countries even started to set limits on transaction values that can be used for non-electronic payments to encourage cashless transactions.

What do you mean instant? No cryptocurrency need no time to send to another wallet.
I know cryptocurrency become more popular but it is not enough to change paper money.

In my own opinion, i think it is not possible to happen even in the future. Digital currency is becoming more famous nowadays and more and more people are becoming curious about what it is and what is its usage and capabilities. Even though digital currency is way more better than paper money, it will not still replace the paper money. One reason is, not all people have an idea about what is digital currency not like the paper money that is being used worldwide by all people. Maybe in the future, more people will use digital currency rather than paper money but paper money will not still be replace by digital currency.

Unfortunately, the anonymity of cryptocurrency has led Bitcoin to take on a rather nefarious image. Various private websites and individuals used the digital currency for transacting different illegal dealings, like selling drugs, weapons and prostitution. As a consequence, governments all over the world started to crack down a number of these websites. Another issue is money laundering, leading to a spate of new legal regulations and decisions, regarding how Bitcoin travels across the borders internationally.
Irrespective of the legal issues, Bitcoin has still persisted, and a lot of people think it has reached to the point of cultural saturation that will prevent it from getting into obsolescence in near future. In addition, it has made a long shadow that the world governments have had a tough time neglecting. This has resulted many to speculate that the digital currency will replace the cash or paper base currency soon. However, don’t rush out to invest the life savings in Bitcoin just yet. Most of the experts are agree to the notion that the current cryptocurrency is not adequately subject to government oversight to carry on indefinitely in its exiting form or to substitute fiat currency. However, the idea of digital currency, validated by the complex digital algorithms that render it virtually not possible to counterfeit, does have the appeal for a number of world governments.
Better yet, because of the decentralized nature these digital currencies have, there is no substantial upfront cost for the government to switch to the digital currencies. In similar way, there is no ongoing cost to maintain this currency. Physical or paper money needs constant printing and checking for worn bills, coins and counterfeits. Therefore, the digital currency of the future is much more environmentally and financially friendly. Still, the predictions are there stating digital currency will fully replace the printed money in next ten years. Though digital currency is on a growth and popularity track, irrespective all of its different problems, there remains a psychological security in the currency held in one’s hand. In addition, fears of viruses, hacking and other attacks on the whole financial foundation of a nation through purely digital ways would likely make most of the nations slow in adopting currency form.

I do not think so. cash money is still needed, and the existence of digital currency into an alternative payment when it is not possible to pay by cash. although the public interest in one day can be more to the digital money.

Predictions that digital currency will completely replace printed money within the decade may be a bit ambitious. Although digital currency is slowly growing in popularity, despite all of its various problems, there remains a certain psychological security in a currency held in one's hand. Moreover, fears of hacking, viruses, and other attacks on the entire financial foundation of a nation via purely digital means will likely make most nations slow to adopt such a form of currency.

I think cashless community will not be achieved, because the influence of fiat money is very strong and its use is still very wide in comparison with cryptocurrency that is still very young and still not stable

Nothing is free and this is a great system, so we need to spend some money for worker are working hard to help our transaction get confirm. Without them, we can not use Bitcoin and we do not have profit from Bitcoin through trading as now.

we use bitcoin as investment no one ready to pay bitcoin for cash.
 bitcoin can’t replace paper money  but will replace gold

I say no, because i don't think that we will ever become dependent on digital currency especially with the problems. A problem with online currency is the exchange fees that they charge when transferring funds. See BTC, you have to pay miners. See paypal. you have to pay the developers. Every digital currency requires fees to continue running. While this might be fast, day to day purchases will be so much easier when using paper money to remove the hassle, and improve efficiency.

I think they can't replace it because Bitcoin is the famous digital currency in our universe. No one can change the high status of this site. But we also need the real money because we use that to buy in the store and pay some things. Both of that money are important in our life now.

Both digital and physical currency is set at a different place with their unique features. 

If we look at the current speed of technology and interest of the people towards bitcoin and other crypto currencies then it will not wrong that the digital currency will replace the paper money in the near future as the times goes the people become addicted to bitcoin and other altcoins in a sense that through this currency they get profit from this digital currency.

I think not, digital currency and real money should go together. Because they need each other, in the real world we need real money, in the virtual world we need digital currency.

It seems that it can happen in the future of modern times that everyone does not want to be bothered by bringing where else paper money if the paper money is spent and a lot of change that is a bit inconvenient if put in the wallet or purse.
so maybe it could happen later digital money replace paper money, I think in developed countries like Qatar, dubai and europe countries have many who leave their paper money just carry credit cards or so forth.