Do you think digital currency will ever replace paper money? - page 75.

SpearTackle

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Quote from: lazygin001 on August 29, 2017, 05:24:42 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 digital currency will never replace paper money, because how about other people who can't operate and not dependent in the new technology? Me, myself I'm not used to an ATM card and machine. So, how can we survive without paper money? And how about the sari-sari store business, it's not going to be easy for them to use the digital currency.

Obito

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Quote from: lazygin001 on August 29, 2017, 05:24:42 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 don't think bitcoin could replace the paper money since it is the old way of payment. Meaning we could not remove the old way of transaction because we have more expertise upon it. Even though we are now exposed in technology the old way of payment is more dominat than new.

ClvrGmr

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Quote from: lazygin001 on August 29, 2017, 05:24:42 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 strongly disagree with this. Yes digital currency opens a lot of opportunities and can be of use to many things but this reasons are not enough to replace something huge like our very own currency. Flat money or our currency has its own advantages which digital currency can barely do. For example, imagine you are in an island away from the urban because you were kidnapped by some terrorist related group and they want money for your freedom and you don't have any family left but you have this billions of money inside your pocket but in digital currency. Tell me how can you even explain to them you have the money but can't give it to them because you need to access the internet in order to give it to them. See flat money or simply tangible things cannot always be replaced by something intangible just because it has more advance features or tweaks.

In summarization i just can't think the future without flat or real money.

lawlawlaw

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i dont think crypto will replace fiat. i guessing they will only blend and be partners.

tho this topic is always around. you should've research more

subSTRATA

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:^)

Quote from: Chyton on August 30, 2017, 08:57:41 AM

I'm pretty sure that digital currency will replace paper money in near future, but we don't have that suitable coins right now. To replace paper money, a coins must have these followings feature:
1. Scalability
2. Big number of coins and can adjusted for inflation (maybe)
3. Untraceable (you don't want the shopkeeper to know all of your wealth just by checking on the blockchain)
4. Fast blocks (a little bit hard to make without having to find block every seconds).

this is exactly why i think a cryptocurrency, not necessarily bitcoin, will be the currency of the future. bitcoin as it is cannot hope to support an international economy, perhaps the economies of small countries at best in its current state (with future forks and improvements, maybe even a first world country's). however, bitcoin is an experiment; it has laid the foundation and has shown us the potential of cryptocurrency as well has helped us discover and develop technologies that might very well be at the core of our economies in the future.
one point of yours i disagree with though; traceability / anonymity. i think we should leave transactions to be traceable still; it would simplify tracking funds that may have been stolen as part of a crime and such, drastically increasing the deterrence to crime. anonymity could be implemented to an extent, ie not being able to view the balance of an address without a proper signature.

PepperaOnIt

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I cant imagine that in future we all has a card that can swipe in any store that has a bitcoin and no paper money that can be use. Thats horrible Embarrassed

Xenrise

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When I saw this topic, I remembered something. I think it is a picture saying that a boy waked up from a comatose and ask his hospital bill and the nurse said. What is a dollar? Your bill is 0.0000031 bitcoins. LOL. That made me laugh and yes I think that digital currency will somehow replace money.

ramsdaj28

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اللعنة

Quote from: lazygin001 on August 29, 2017, 05:24:42 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

Yes, I think. With the advancement of this era, it's not impossible that crptocurrencies will replace paper money and physical coins. Most people are now inclined to the use of computers, smartphones, and other gadgets. There will be nothing to get shocked of when cryptocurrencies will be replacing paper money and coins.

Sate Jamu

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this is not an estimate but many countries are already planning to replace paper money with others, they are still doing a lot of reviews and I'm sure the government will use digital money to replace paper money.

helars2008

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With the current trend that the cryptocurrency takes nowadays it may not be far from passible that one day bitcoin will replace the use of paper money.
And this is already evident at this moment a lot of stores are now accepting the used of bitcoin in purchasing their goods.

jb77889

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This is not entirely impossible, since a lot of people really depend on cashless transactions and feel that they are more safe and secure when they have less cash on them, but I also believe that this will put paper money out of the picture because people will still continue using them and some people still feel more comfortable with paper money transactions. Though the idea is really possible.

J. Cooper

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Alea iacta est

It really depends on how our lives will change in the next decade. Because let's face it bitcoin isn't really that practical to use for day to day purchases, yet. Right now you just use cash or visa/debit card etc. But that's being worked on. Perhaps in the future we will see an innovation that would radicalize the way we make payments and maybe that will allow us to fully use bitcoin as a day to day payment method.

Irvinn

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The digital currency can largely assume the role of a means of payment and, thus, narrow the circle of circulation of paper money. However, in my view, the digital currency can not completely replace paper money. There are areas where crypto currency is either not generally applicable, or its use will not be profitable and not practical.

JL421

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It can it just need much more improvements in the technology it is easy to make digital payments but sometimes it takes a lot of time and people get frustrated if they can solve these small issues which can occur with digital currency we might see a replacement soon and paper money also causes lot's of resources every year digital currency can save the environment also

lazygin001

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Quote from: CryptonomyCapital on August 29, 2017, 08:22:37 AM

Yes, in future using of paper money will be just less convinient and more expensive.

And massive damage to the environment too.

bitcub

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I believe digital currency in the form of crypto currency might replace fiat in the next decades. Have you heard the news from Russia? They are in the process of creating their own crypto currency.

Caelanpelley

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Quote from: lazygin001 on August 29, 2017, 05:24:42 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

This possibility can happen. But first of all people need to know about them. At present, many people do not know about this kind of money and they only use traditional money. If they can replace paper money, I think it will take a long time for people to get acquainted with them.

DoublerHunter

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It is a no because digital currencies are maybe good currency but it is still not applicable for replacing the paper money because paper money is the most used type of money in our world and replacing it with confusing currency like digital currencies is a problem for the people who don't even know how to use computer so it will have a huge effect on our world so i don't think the government will like to experience that scenario.

Xester

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Quote from: lazygin001 on August 29, 2017, 05:24:42 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 do npt know but as of now it is a no. Maybe in your country and the way you live is totally like a rich one wherein you do not need the physical paper money. But here in our country and in different parts of the world, buying other things cannot be done using a card. For example, you will buy just a piece of candy on the street, if we will become cashless it is impossible or would take time for the seller to have the money you paid for a piece of candy. Just like that. So I do not think that it is possible.

s2

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I could see it becoming more used than paper money but would never get rid of paper money... it's just so easy to make a paper money system if you can trust the central issuer and buyer which is true in 99% of situations.

That said, digital currencies will certainly become more and more popular in time since there is less to carry around or lose.

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