I think digital currency will replace paper. I don't think I would invest in crypto if I did not believe that.
I live in Sweden and 75% of shops, restaurants and bars do not accept cash as a payment. I think Sweden will be one of the first countries to adopt crypto mainstream.
Topic: Do you think digital currency will ever replace paper money? - page 73. (Read 11190 times)
While I don't believe it will completely replace paper money, I believe an equilibrium will be reached in which both are used in their own context. I think of it as the co-existence of paper mail and e-mail in our day. The equilibrium is determined by their intrinsic advantages: having something physical vs. speed and ease, and it is now shifting in favour of the usage of e-mail because of environmental considerations in the billing of companies. In the case of bitcoin vs cash, the location of the equilibrium will depend much on the government policies, especially on taxation; which is for the moment an unknown.
Your right mate. Not only because of having popularity of bitcoin could replace fiat money. Actually, more people are in the stage of learning and some are totally nothing about this kind of technology. Anyway, they are different in way of application and we can used them both it depends which is preferable and comfortable for us.
I imagine that digital currency will exist side by side with physical cash for quite a while yet. But the rise of credit and debit cards has caused quite a drop in cash use and I imagine that Bitcoin (or another cryptocurrency if Bitcoin fails) will put a further dent in the use of physical cash when it goes mainstream.
While I don't believe it will completely replace paper money, I believe an equilibrium will be reached in which both are used in their own context. I think of it as the co-existence of paper mail and e-mail in our day. The equilibrium is determined by their intrinsic advantages: having something physical vs. speed and ease, and it is now shifting in favour of the usage of e-mail because of environmental considerations in the billing of companies. In the case of bitcoin vs cash, the location of the equilibrium will depend much on the government policies, especially on taxation; which is for the moment an unknown.
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 agree with your argument. There's a possibility that Bitcoin and other digital currency will replace regular currency or fiat in the future as the advancement on technology continues. If people will rely more onto technologies, it is possible that someday, that day will come where people will be fond of using digital currency since it will be a part of modern life routine which is with technology. What do you guys think?
I agree with sheldonnnn, paper money never disappear
I think it's highly possible. Some Arabian countries started to release their own cryptocurrencies. Also in many countries cashless transactions are already popular. How? Banks offer credit cards in such countries on a large scale. I'm curious how long will it take for big countries to adapt cryptocurrencies. When will they fall for them?
I don't think so, we will have both physical and digital currency in the future but not a replacement
True, even if by any chance that internet technology massively improves I think bitcoin will still not be able to replace paper money. I prefer to still have cash ready in my pocket other than bitcoin.
we can easily guess it from the present situation. Digital money is going to more and more popular day by day. So I think digital currency will replace paper money in future. I also think it is not possible at near future all over the world but it will happen.
No...
I think it will not become paper money.Because now days many country uses mobile or oonline pay systems.
How come you contradicted yourself in this short sentence? I think it will not become paper money.Because now days many country uses mobile or oonline pay systems.
Paper money will be gone and will be replaced with digital payments.Frankly, it is not that important for average Joe whetehr we will have blockchain based cryptocurrency or digital cashless society based on centralized Payment Service Providers.
The future is clear - governments are too crazy about controlling money flow, sooner or later under the pretext of progress and greater convenience, paper fiat money will be gone.
I think it could happen in the future because digital curancy is nothing to fake unlike paper money that can be faked easily. so everything may happen but maybe not today but in the future as technology continues to grow.
It won't be long before we get there. There have been so many advancement in the way businesses are done and how money are being moved today that is so great from 10 years ago and so many things that seems impossible then became possible which will eventually happen in the case of cash. It might not be eradicated finally but I see a greater percentage of people holding less amount of cash.
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 it could happen, but it will take a long time, because not everyone understands about digital currency, let alone those who are still unspoiled internet that usually exist in a country or a remote city
Lets talk about Bitcoin,which is the most renowned digital currency of present era and check what are it's chances to replace paper money. Bitcoin provides us with many services such as easy and fast transactions, profitable investments,tax free transactions within and outside the country etc.But I dont think that it will be able to replace paper money because paper money is widely acceptable and can be used at small stores very easily. People trust paper money and are using it as a mode of payment from so many years so it will be difficult for Bitcoin or any other digital currency to gain that amount of trust. Moreover,paper money is centralized which means that government has full control over it and Bitcoin is decentralized which means that government has no control over it so government will not allow any such currency to replace paper money over which they have no control.So i dont think Bitcoin or any other digital currency will replace paper money .
Digital currency has already replaced paper money on the global scale.
Money is all just numbers now.
It is important to remember that it's not paper vs. digital, but centrally controlled currency (fiat) vs. decentralized currency.
Blockchain technology is revolutionary because we control everything. The users, the buyers, the sellers, the miners, it is all controlled by everybody.
It is never going away. I imagine in time better technology will replace BTC but the idea of decentralized currency is a reality and a huge paradigm shift that you can't put an X on.
but I doubt one will fully replace the other.
Money is all just numbers now.
It is important to remember that it's not paper vs. digital, but centrally controlled currency (fiat) vs. decentralized currency.
Blockchain technology is revolutionary because we control everything. The users, the buyers, the sellers, the miners, it is all controlled by everybody.
It is never going away. I imagine in time better technology will replace BTC but the idea of decentralized currency is a reality and a huge paradigm shift that you can't put an X on.
but I doubt one will fully replace the other.
in my opinion, the function of paper money as a means of payment directly can not be replaced by any digital currency. in real life, not all aspects of life can be reached by digital money, especially in areas that are still not familiar with technology.
No. Because, digital currency only in virtual world. Meanwhile, we live in real world and not everyone in the world knows cryptocurrency. So, paper money will always be used.
I think no because here in the philippines we have a hero in our own money so we can replace it,in other country i think they can because they dont have hero in money in there country,i think also this is possible in other country because some country always replace or add money in there country
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 the digital currency can only replace paper money in an advanced country, if it happens in a developing country or poor then digital currency can not replace full paper roles, only 30% of transactions are done by digital money and the rest of the money paper.
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?
No i think digital currency has been discovered due to the rising numbers of technology. In the online world we need digital currency to buy online and invest online. But we still need money because they are not yet accepted bitcoin as a means of payment. What do you guys think?
Jump to: