I personally think it will never happen unless all areas accross the world have good internet connection, which in my opinion is very unlikely. Additionally, I think paper money edges digital currency in a certain security aspect, with digital one there is always a risk for the money to be hacked and maintaining a good security account cannot fully guarantee the safety for 100 %.
Topic: Do you think digital currency will ever replace paper money? - page 71. (Read 11210 times)
Too fast if bitcoin will replace paper money, it all takes a long process, let alone replace paper money around the world. But if only some countries can leave it alone in the developed world, with all the ease Bitcoin can make it happen.
We are in a similar boat, Today I do my 60% to 70% transactions using digital money (not just limited to the cryptocurrency transactions) using the digital fiat wallet. In my country, an incident took place last year which boosted the userbase of digital currencies dramatically but still, I do use cash in my daily transactions and I don't think that digital money will be able to replace paper money at any given point of time at least in next 10 to 15 years. There will be the people who will keep using paper currencies but digital transactions will dominate the fund transfer volume in the coming years.
I do not think crypto will entirely replace printed money in the immediate future. I however see it as a very good possibility later maybe 10-15 years. we are already pretty much a cashless society with all the use of credit cards and debit cards as well as large companies paying payroll on debit cards and the transfer of funds on money cards of all types. The wave of the future is approaching.
Even in the next two decades I doubt that there is going to be any major shift to a completely cashless society, and a majority of the time I would not trust any sort of banking system holding some digits they can just delete ant any point if you just happen to not be a good goy. Having a banking system built around only digits makes fiat now even less valuable than it could have ever been, crime becomes easier in some of its own ways since people will now move to technical fields of study, siphoning a few extra dollars (which are no more than digits which control you) becomes something not completely inconceivable.TLDR Cashless societies are bad.
No, the two things will live next to each other. At least for the coming 10 years. People are usually afraid of the change so this will be widespread slowly. This is valid for the possible national currencies too, not just for the cryptocurrencies.
I think bitcoins can replace money or the real.money in the future because of the advancement of our technology we humans must adopt this changes.
It is possible to happen, but I'm pretty sure that the government will not let replace the paper money by digital currency. Further not all people is equipt by modern technology, it will very difficult for them to understand the bitcoin.
No! Not yet anyway. Bitcoin is far inferior to fiat. Bitcoin tx fees are huge. Its price is so volatile and in general, it is nothing compared to fiat. The only good thing about BTC is its decentralised platform. This is good and only because you can store your own money. Ie, it is not stored in a bank. Moreover, in time of a financial crisis, you will not really lose any of your superannuation. But then, because of Bitcoin's price volatility, you will be getting an extremely varied wage. One week you might get 7000 dollars and the next 5000 dollars.
In fact, the official currency is also digital. Why? We have electronic accounts. We do not have physically only money numbers ...
Definitely not. Not all people has cellphone or internet. Sometimes there are so many scams in the internet and I think it is not that fully regulated to fully protect the Bitcoin users. Maybe soon but for now, we must have money in our pockets or bank becuase it good to have it physically.
Most obviously yes the answer.the digital cash is the future.
Maybe in the future BTC
its impossible. bitcoin is online currency it can't replace into paper any more.because it increase every time I know....thank you.
Digital doesnt have to mean crypto, but yes it will and it is happening. China already has plans to get rid of cash and other places will follow suit. In 200 years people arent going to be lugging around cash, it makes no sense. Our economy with credit cards is mostly digital right now anyway.
I believe this is certainly within reach over the next say 15-20 years if not sooner, at least in the developed world. Case in point, in Canada, pricing for goods and services is now rounded to the nearest tenth as they no longer accept or recognize pennies as a form of currency. This is for no other reason than the fact that it costs the government more to produce the penny than the value of the penny itself. Just as society is moving towards a 'paperless economy' when it comes to documents so, too, will this hold true when it comes to currency.
I choose no.. not easy to digital currency to replace paper money, because digital currency have limit and many people more believing paper money more than digital currency.. maybe in the future digital currency will still work as the best investment..
So basically paper money are symbolic in a country their history is part of it so i do not think that digital currency will ever replace it, as long as we have our different governments it will never happen since paper money is used as the legal tender of a state and it is regulated.
i think digital currency can replace paper money but it will take very long time and slow because the convinient of paper in shopping, another thing is elder people dont want depend too much on technologies and internet.
This can happen when the generation of people on Earth is completely renewed. Now our society is in a very different position, there are people who have access to the Internet, and there are those who live in places without it. Absolutely not all have computers and smartphones, and, accordingly, these people can not have access to crypto currency.
Highly unlikely. Maybe in the future paper money will be used locally and digital
currency for international and online.
currency for international and online.
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