Does this mean Cash will be extinct? - page 11.

burner2014

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Quote from: rudito on May 01, 2018, 12:11:54 PM

Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I still find it difficult to accept if the cash will go extinct, I think the unstable value of crypto money will be difficult to make as world currency. I just think fiat money will still exist and crypto money will also be used.

I don't know what to think too, I love crypto but I also love cash, I do love both of them and I can't see myself right not transaction all with the use of crypto, but let us see in the future what could happen, maybe time will really come when cash would be just an extinct.

rudito

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I still find it difficult to accept if the cash will go extinct, I think the unstable value of crypto money will be difficult to make as world currency. I just think fiat money will still exist and crypto money will also be used.

chromosomes

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

It has been very debatable on the whole world on what will make it a better place, a cashless world or the normal one. For me, cash might end up extinct after a few years from now knowing that bitcoin and other cryptocurrencies has been making a wide noise all over the world proving the improvements they can give to us in the future.

Pepito Manaloto

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I don't think so. Fiat has played a vital role within the society for a long time already and I don't think having bitcoin revolutionized will affect the use of cash for now. I am not saying that having a cashless world is impossible, it's slowly getting accomplished already actually and the best thing we can do is to set ourself ready for any possible outcome it can give to us.

Gufeng

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The big problem in it - is on the places that not even educated and don't really knows how to access bitcoin, or don't have internet connection

arteme

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Why will other countries follow this suit? Reality is majority of developing countries do not have the required infrastructure even if they want to follow this.

Coinky

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I don't think physical cash will be extinct very soon.Not even in next decade or two. Longway to go

hroub

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Eventually, cash will be extinct, especially when a mainstream cryptocurrency replaces FIAT. This will take quite some time though. Even the poor with no computers or smartphones would be able to access and manage their coins at crypto-ATMs and merchants. There is no reason why crypto won't replace cash, other than our masters (governments) trying to force us to use their worthless FIAT, so we can remain their slaves.

Yatsan

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Quote from: FoBoT on March 05, 2018, 10:45:50 AM

If Sweden can be able to do this, I believe it is not all other countries as you have put it that can follow suit, because many countries are still fall short of technologically and electronically know how. So, its damn not going to be an easy journey for them at all and even, most of them still believe though ignorantly in Fiat currencies for real other than any Cryptocurrency.

It needs a core rule where the regulations lies and backed up by strong foundation of knowledge on technology, But for now we can't say anything nor predict since we do have different government strategies. Not all country may survive without a fiat currency and may adapt changes towards the technological advancements we have now. I think if fiat currency will be obsolete, certain problems might happen specially on economic bases.

serverus

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No, i guess. Cash still has its convenience. It will takes a long time before we realizing a cashless society

cheeseandcrackers

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I doubt cash will ever become extinct simply because people want to be able to have private transactions. There are coins out there that facilitate that but I still think there will always be plenty of people who want to use cash, at least to some extent.

palvinta

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Yes of course cash will be extinct if all countries in the World follow Swedia state that will stop using cash. But I think this is unlikely to happen in the country again. If only the Swedish state that dismissed the use of cash means cash is only extinct in the country. And other countries still as usual use cash for their daily lives. As in my country, the majority of all people use cash because there are still many people who very lay on the internet or other advanced technology.

cryptokia

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Most of economists right now are saying that. Cash (Paper money) is not anymore a best way to handle money, so it will be determined

Legwist

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There is no one in this world who can tell us what is going to happen in the future. Fiat will stay. Bitcoin will stay. Both of them stays. We cannot remove fiat completely in our systems because how about the people who doesn't even have any access to the internet.

tuikindu

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We can know money didn't we imagination of so good, so we can see notes shortcomings exposed more and more in modern life, notes the less adapt to the development of modern society, and then according to the society is continuous development to inference, there must be a new currency to replace the paper money in the future.

With the development of the digital currency, it is not ruled out that things like paper money and COINS may gradually shrink in the future, and may not even exist one day.

patrickj

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I don't think that money will be wiped out from presence absolutely in light of the fact that there are a considerable measure of things that should be set up before such a things could happen. Money won't be wiped out totally in the immature or creating countries, it is an alternate ball game on the grounds that there are some piece of those nations that doesn't have a bank not to mention working cashless economy.

jetjet

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its not that easy to eliminate cash totally... those small purchases could be done on cash basis without cash that would be a little bit hassle... plus, cashless needs technology to operate, what if theres system down how could we done our purchases? anyways, if country pursue this scenario, they must be equip with enough contigency plan to address issues that may come in durinf implementation.

markovi4mark

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There is no one in this world who can tell us what is going to happen in the future. But for me its very imposible to stop using cash, even though the crypto currency will be more popolar in that year its very imposible to stop using cash.

niteroy

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Quote from: schatzi on April 30, 2018, 11:36:00 AM

Maybe one day , when digital world conquers the real one , cash will be extinct. It’ll happen when the internet takes over all other power and trading becomes only digital . But for now , i believe it’s both difficult and hard to be achieved.

The main thing is that the beginning is already there and only further initiatives like this will become more. I hope that in other European countries they will also transfer traditional sectors to the blockchain, and also legalize the use of cryptocurrency at the state level.

Kikir leutik

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If you’re new to thinking about money, welcome. It’s a vast, broad subject, and one that repays upon consideration and review. Chances are you’ve given the subject more thought these days due to wild cryptocurrency price speculation news. And it is thrilling. To think you’re able to invest in a digital asset at any stage, in full or fractions, and ride its swings can fill our heads with dreams of wealth accumulation. And if that’s the spark causing you to click over here, awesome. You should also begin to learn just why this bitcoin thing, this crypto thing, this brave new world is maybe even more important than typical manias or get-rich-quick schemes.

It doesn’t take long to learn a truism: government money loses value over time. Empirically, you know this. You don’t have to carry a Nobel in economics to understand most products you purchased only a short time ago are more expensive. You’ve noticed, but, well, what can be done? It’s probably natural. It’s probably the way of things. Can’t be helped for some strange reason. A candy bar I paid for two years ago costs 25 cents more today. Meh, it’s not that big of a hit

reference: https://news.bitcoin.com/bitcoin-versus-government-money/

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