Topic: Do you think digital currency will ever replace paper money? - page 7. (Read 11210 times)
I think digital currency will never replace paper money, maybe this will not happen in the future. Not all the people in the world can operate and dependent in the new technology, so not all the people know about digital currency. Digital currency available through the internet.
Surely digital currency plays a major role in our future but it can never replace paper money. Cryptocurrencies were invented only as an alternative means of payment. In addition, they were highly volatile and with a significant change in value, people cannot perform reliable transactions in them owing to the significant market and liquidity risks.
It is true. Moreover, cryptocurrency is highly dependent on the internet. If there is no internet connection then all types of transactions can not be done. So, I strongly agree that cryptocurrency will be an alternative payment tool.
I think that if it could do it, cryptocurrencies offer a greater comfort and security of privacy to people, especially for businesswomen it would give a great social advance.
I do not think that paper money will be replaced with digital currency. Because of course we all still need something real like paper money. There are still many people who use paper money for simple payments. And maybe there are still many people who do not know or do not make payments with digital money. There are still many laymen who do not understand and only choose paper money as payment or transaction. They certainly need to learn, but I do not think everyone will leave the paper money.
Yes i think its true that digital currency will ever replace paper money. Paper money always risky to move one place to another place. The payment system of paper money also risky but on the other hand paying your payment with digital currency is always save to safe. The wallet also very safe of digital currency. So it is not so fare to digital currency replace paper money for ever.
in my opinion to replace the paper money will not happen, because not everyone understands about digital money. it would be better if the digital money and paper money there and can be used all.
For me there's Zero percent chance of replacing fiat with crypto. There's still much time needed. Government and banks need to accept it and work , which is impossible for both. Since crypto currencies are unstable and not in under control. Second thing is its popularity. I just read an article where someone wrote. There are at least 15 million people using crypto, so that would be about 0.2%. We have to spread awareness of crypto currencies first.
Surely digital currency plays a major role in our future but it can never replace paper money. Cryptocurrencies were invented only as an alternative means of payment. In addition, they were highly volatile and with a significant change in value, people cannot perform reliable transactions in them owing to the significant market and liquidity risks.
Digital curreny can replace paper Money and is also doing it. We can use digital curreny more efficiently. Because today people are using credit card, debit card. And there is a reduction in people who use paper Money. In the coming years, people all over the world will stop using paper money and adopt digital curreny. Black money has become very low in countries using digital curreny and in many countries like India, more attention is being taken to adopt Digital Curreny. For such a reason, I think the digital curreny will replace the paper money soon.
I am sure that someday paper money will be in the museum and no one is using it, this is because of changing times and needs, paper money disappear soon because it will be replaced with digital 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?
I don't think digital money will replace paper money. The use of digital money requires the Internet, and in some countries around the world, the Internet has not been widely used, which will limit the spread of digital money. I think the future of paper money and digital money will both exist, both of which are important forms of payment. What do you guys think?
No. I don't think so. There are this features or characteristics that paper money has which digital currency doesn't have. We keep in mind that trading in paper money can be instant unlike in BTC which you need to wait for a few minutes for your transaction to get confirmed. As for me, I think we need both digital currency and paper money for much better convenience and diversification.
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.
somewhere you can say that digital currency will replace paper currency like bill payment etc. but we can't 100% say that it will be replaced like in the case of routine household items, penny expenses etc..
In as much as i believe in digital currency and really hope that BTC was a globally accepted digital currency it is not possible for cryptos to replace paper money because of the following reasons which can not be achieved;
first we will need every single person to be technologically inclined and have the resources to be online 24/7 but this alone can not happen in all parts of Africa.
Also it will mean that government of the various countries should all accept it which will also not be possible because some countries wants to rule always with their currencies being higher than others.
I rather suggest we legalize it for those who want to use it for any transaction which supports the use of digital currencies
first we will need every single person to be technologically inclined and have the resources to be online 24/7 but this alone can not happen in all parts of Africa.
Also it will mean that government of the various countries should all accept it which will also not be possible because some countries wants to rule always with their currencies being higher than others.
I rather suggest we legalize it for those who want to use it for any transaction which supports the use of digital currencies
Just look at denmark and the app MobilePay
It´s connected to your creditcard and you can pay anywhere with it, with your mobilephone. Even the homeless now have a sign with their code or phonenumber for mobilepay, as people almost never have coins anymore.
Yes I think we will see a huge portion of cash been digital.
Thats why I have started buying silver, and when I earn more money, I'll also have physical gold - It´s fun and interesting with digital cash, but I do fear something unforseen act.
Let´s just take the news these days: North Korea bombs Japan in a few years from now - China and north korea employs all their hackers to disprut the west, and a war begins.
If we are unlucky and most of our cash is in a centralized system, it might very well get frozen.
Well - I guess it's always good to putt your eggs in different baskets
It´s connected to your creditcard and you can pay anywhere with it, with your mobilephone. Even the homeless now have a sign with their code or phonenumber for mobilepay, as people almost never have coins anymore.
Yes I think we will see a huge portion of cash been digital.
Thats why I have started buying silver, and when I earn more money, I'll also have physical gold - It´s fun and interesting with digital cash, but I do fear something unforseen act.
Let´s just take the news these days: North Korea bombs Japan in a few years from now - China and north korea employs all their hackers to disprut the west, and a war begins.
If we are unlucky and most of our cash is in a centralized system, it might very well get frozen.
Well - I guess it's always good to putt your eggs in different baskets
Yeah denmark is one of the first country are developing their own country to become one of the first cashless country. Its not possible that cryptocurrency can replace money because of the innovation it can bring in our economy.
Although many accuse Bitcoin and other crypto-currencies of fraud and consider them "bubbles," the cryptanalyst Willie Woo argues that the traditional money will disappear in the "digital era" and the period of dominance of the crypto currency will come. I fully share the vision of Willie Wu and I think that in the next few years the role of crypto-currency in the world financial system will increase significantly.
I think that the day when the crypto currency will be able to replace paper money, it will not happen very soon. They would change the banking system too much.
The Bank of Japan conducted a joint study with the European Central Bank, as a result of which both structures came to the conclusion that the blockchain is not sufficiently developed to form the basis of the modern monetary system.
The Bank of Japan conducted a joint study with the European Central Bank, as a result of which both structures came to the conclusion that the blockchain is not sufficiently developed to form the basis of the modern monetary system.
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 think bitcoin cannot replace the paper money thoroughly.
There are banks that distribute paper money.
Meanwhile, banks will remain in different countries to perform their roles.
The digital currency will significantly squeeze out paper money, but it will never completely replace paper money. In life there will always be cases when the crypto currency will pay for various reasons uncomfortable or even impossible. Of course, all significant financial transactions will be conducted in the crypto currency, but at the household level, paper money will always be needed.
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