Do you think digital currency will ever replace paper money? - page 79.

liuqi

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Quote from: The_prodigy on August 29, 2017, 11:50:09 AM

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 personall;y think that even if digital currency will arise, there is still a real threat that it gets hacked, stoled or worse erased. And paper or real money would still be a go - to cash for some as it leaves a trail, traceable and can be hold in a place where you can protect it yourself. Unlike in a world where only digital currency exists the world would be at the mercy of digital hackers and it might be replicated to some degree into fake money that could prove troiblesome than it might have helped.

Hackers may hack your bank account as well. In bitcoin wallet, you need to set-up the two factor authentification and you should not share the private key to anyone to keep your bitcoin much safer side. Don't google your wallet site and try to logging in. This may take your log in encryption and decryption information to hackers side then they will loot your money.

DigitalLemming

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I think we will always have the need for physical money. I have the image of beggars on the side of the road with sign saying"War Vetaran anything helps" and a QR code!

cryptworld

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Digital currency will replace paper money in near future. Governments and courts will be able to control our money.The crime rate will be reduced. Money will be the most safest in his history.

BrewMaster

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"digital" currency has already replaced traditional money in most places, people no longer carry cash around. it is all cards, phones, internet, online banking, and what my government calls "electronic government" (rough translation). and that is only growing and becoming better in the future. in fact that is why the banking system and the government has been paying so much attention to the blockchain technology in the past few years.

but it will always remain centralized.

things like bitcoin will remain as an additional decentralized option which people will adopt as a global currency which they can use any place in the world without needing to convert it to local currency.

nobluff5150

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Imo i don`t think it will happen soon, but different processes of digitalisation becoming more and more common. We had great technology leap in couple of decades, i think it can be possible. What it will bring both to the economy and the world - well, we will see

The_prodigy

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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 personall;y think that even if digital currency will arise, there is still a real threat that it gets hacked, stoled or worse erased. And paper or real money would still be a go - to cash for some as it leaves a trail, traceable and can be hold in a place where you can protect it yourself. Unlike in a world where only digital currency exists the world would be at the mercy of digital hackers and it might be replicated to some degree into fake money that could prove troiblesome than it might have helped.

JimmieA

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I have been a member of this forum for some time and I have also seen quite similar topics. Now, The society is very modern and in the future will definitely develop more , but in the next few years I think btc will not be able to replace the conventional money. If that happens then btc becomes global currency and the crypto system is accepted everywhere in the world. The implementation of daily transactions in digital currency will be somewhat inconvenient if there is no means of support and the fee we have to pay for each transaction is also a disadvantage because it can be said quite high.

OMGyasuo

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The society is more modern than that everyone knows. But the digital currency replacing paper money, in other words, is the usual currency we trade everyday, I think maybe this will not happen in the future. In fact, there is a part where the digital currency can not replace the function of a conventional currency. On the other hand, trading in digital currency, typically btc, is paying a fee that can be said to be quite expensive for a deal and there are many other factors affect to using technical currencies to replace the conventional currency.

lazygin001

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Quote from: mondobitcoin on August 29, 2017, 07:44:15 AM

I think a total replace not, because paper is paper Cheesy

But in the future i think digital currency will be come more and more popular
Now there are a lot of old people that dont know what is it digital currency, they prefer the paper

Wonder if we can still keep up with the technologies when we get to 70 Grin

notyours

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To me it is not. It is still a long time before it can be replaced with fiat moneys. Why? Many must be changed. Everyone should have access to the Internet. They should all have a mobile phone. And it is acceptable to the government. And I think there are many to protest happened here.
Before it was fully accepeted by the community, the world

michkima

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It not a question of "if" but a question of "when!" It is unevitable that the human race will have to decide to let go of phyiscal money is we will have to move to renewable resources. That would mean we have to move away from the use of paper and precious metals which includes copper, silver, nickle, and other metals that make up our physical coins.

MetalGear

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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 guess digital currency will replace the paper money and I think ir would happen in the future. In addition to that, I think its because of the new technology and digital currencu is become more popular so I think it will replace paper money. Lastly, I think bitcoin or digital currency will become our future money.

jefrihunter

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I think that possibility is bound to happen in the future with the increasing use of digital currency, thus lowering the use of paper money and making many people believe that digital currency is the future.

lazygin001

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Quote from: Ghani on August 29, 2017, 07:06:21 AM

I do not really understand about this, everyone knows that digital currency does have advantages but the problem here is some countries do not approve of the existence of digital currency
So my answer is still floating because of it, but I have hope that one day all countries move to digital currency.

I think it is a matter of time before most countries approve it, but probably big countries will need to be the first to utilize it. Fingers crossed that will happen one day.

mining_spaceship

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When everybody has a Bitcoin app installed on a cell phone, using paper money will be antiproductive, and transition to Bitcoin (and maybe other cryptocurrencies) will happen naturally.

carlisle1

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Quote from: lazygin001 on August 29, 2017, 09:37:27 AM

Quote from: bitorama on August 29, 2017, 05:38:18 AM

I don't think so, we will have both physical and digital currency in the future but not a replacement

But there is a demand of instant transactions and physical currency may not be able to fall into that category.

but still you will be needed physical currency in any case we cant avoid that there's still a place without electricity so how can you pay them with your digital
money? I'm quite positive and also looking for this but there's a lots of things that we need to consider before we can justify this matter.

lazygin001

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Quote from: Lancusters on August 29, 2017, 07:02:40 AM

I think that digital currency will replace paper currency. Maybe we move to cashless payments, but it will not be in the digital currency. It will be the local currency on Bank cards. The fate of Digital currency depends on us. We are able to use it regardless of the wishes of the government.

Yes, without people pushing and promoting it will not get anywhere as people are so used to the current system and the governments are also happy to stay that way.

TastyChillySauce00

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Quote from: lazygin001 on August 29, 2017, 09:37:27 AM

Quote from: bitorama on August 29, 2017, 05:38:18 AM

I don't think so, we will have both physical and digital currency in the future but not a replacement

But there is a demand of instant transactions and physical currency may not be able to fall into that category.

That's right, and debit or credit card exist for it as well as the existence of Paypal. The disadvantages of blockchain is that every transaction need a confirmation to avoid double spends or any error and confirmation do require times to arrive.
Frankly speaking, digital currency will not fulfill the demand for instant transactions.

lazygin001

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Quote from: bitorama on August 29, 2017, 05:38:18 AM

I don't think so, we will have both physical and digital currency in the future but not a replacement

But there is a demand of instant transactions and physical currency may not be able to fall into that category.

lazygin001

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Quote from: mk4 on August 29, 2017, 05:33:32 AM

Really possible, but in my opinion this is a lot more possible when talking about countries like The United States, Australia, and other first world countries. I don't see this happening to 3rd world countries or even poorer countries due to poverty; the poor crowd couldn't even afford food and basic commodities, what more a mobile device to transact bitcoin with? My guess is that both fiat money and cryptocurrency will both be used. If digital currency would replace fiat money I don't see it happening in this lifetime.

Have you ever seen the movie In Time? They may well do so the same sort of things to us Grin

Topic: Do you think digital currency will ever replace paper money? - page 79. (Read 11210 times)