Does this mean Cash will be extinct? - page 12.

dmamigo

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Quote from: tylerderden on April 30, 2018, 09:49:38 AM

Quote from: Cairo18 on April 30, 2018, 09:23:28 AM

Quote from: hahahafr on April 29, 2018, 04:25:15 PM

Cash will NEVER be extinct, at least, not on this society.

It will take more than dozens of years until we can see a change on this kind of economic system, yes, it would more than impossible.

I think maybe but not now, it is possible because there are other people doesn't know about this technological process of using digital money or currencies in networks. Maybe cash will extinct if all things that we used are made through technologies.

No this cannot happen at all.Even when cryptocurrencies will rule the market maybe in the future,then also cash cannot be extinct.Cash is used by every person on this earth.Cash is used in day to day transactions.Cash is accepted internationally.Cash is centralised and therefore it is backed by the central banks and the government.Cash can be used anywhere and anytime unlike cryptocurrencies which need internet connection to get operated.

Yes, cryptocurrency cannot replace cash requirement, but if a government of any specific country complete digitization upon its financial system, I guess it will be possible. But there will be roadblocks while doing this, but cryptocurrency can helo them. Centralised crypto can be implemented and a system can be built which will complete the payment with a fraction of seconds. But yes internet will be the biggest problem, I doubt there will be 100% uptime always anywhere in the globe. That's kind of tough to happen.

Rustamm

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Bitcoin lover!

In Sweden, a fairly high standard of living, so there may well be without cash. And then, I doubt that everyone will be able to give up ordinary money there. Also, 20-30 percent of the world's population can go to non-cash settlements and crypto-currencies. However, I do not think that they are ready for this in the rest of the territory.

schatzi

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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.

renggileh

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Maybe yes, but it will take a century to get it done. If people trust invisible money on internet and feel more comfortable to use it in daily basis instead of always carrying physical cash in every situation. It may different in first world countries and third world countries, but people will trust digital currency or digital form of money without see it leave their pockets. Centralized or decentralized system will be there to make sure digital currency distributed and being used safely.

7Dyoknga5

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

This could only be good if you are to stay in Sweden. Unless there would be an international app that most countries would recognize and accredit. Countries' won't also be able to participate in world market because world market products prices are based on fiat currencies of that said country.

Low class community are also to be considered because as many of them have difficulty accessing basic needs which is more inconvenient

budiarmed

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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 think not, fiat money will still exist and will continue to circulate in the community. People will still use fiat currency for their daily transaction needs.

tylerderden

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Quote from: Cairo18 on April 30, 2018, 09:23:28 AM

Quote from: hahahafr on April 29, 2018, 04:25:15 PM

Cash will NEVER be extinct, at least, not on this society.

It will take more than dozens of years until we can see a change on this kind of economic system, yes, it would more than impossible.

I think maybe but not now, it is possible because there are other people doesn't know about this technological process of using digital money or currencies in networks. Maybe cash will extinct if all things that we used are made through technologies.

No this cannot happen at all.Even when cryptocurrencies will rule the market maybe in the future,then also cash cannot be extinct.Cash is used by every person on this earth.Cash is used in day to day transactions.Cash is accepted internationally.Cash is centralised and therefore it is backed by the central banks and the government.Cash can be used anywhere and anytime unlike cryptocurrencies which need internet connection to get operated.

emulsifryer

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Quote from: hahahafr on April 29, 2018, 04:25:15 PM

Cash will NEVER be extinct, at least, not on this society.

It will take more than dozens of years until we can see a change on this kind of economic system, yes, it would more than impossible.

Yes that's absolutely right and even if cash will be extinct it takes a lot more of years to happened and also paper money will be placed in the museum.

Cairo18

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Quote from: hahahafr on April 29, 2018, 04:25:15 PM

Cash will NEVER be extinct, at least, not on this society.

It will take more than dozens of years until we can see a change on this kind of economic system, yes, it would more than impossible.

I think maybe but not now, it is possible because there are other people doesn't know about this technological process of using digital money or currencies in networks. Maybe cash will extinct if all things that we used are made through technologies.

hahahafr

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Cash will NEVER be extinct, at least, not on this society.

It will take more than dozens of years until we can see a change on this kind of economic system, yes, it would more than impossible.

valentine401

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

That kind of news will be only for sweden and not for the entire nation because the world has different law's and some of them is not existing on other countries so we cannot say that fiat will not be existing on other countries as well.

pantheraio

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That is one of the thoughts of people who want to use bitcoin in the moment. But i'm sure the money will no longer be in use in the future because many people who want more transactions are not complicated and in the end they can use bitcoin. In this era too many people have started to use ATM one example.

md.falkone

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It isn't as simple as we think. Cryptocurrencies will undergo so many take-off and falling. Because all of them still are at the first development stage with a large number of improvements. But to get to non-cash society surely will occur.

Tomborneque_1102

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Actually, there was an Idea before that the World Government was planning to have a cashless society. wherein, all the transactions will be made electronically. thru cards, or a microchip. but that was 20 years ago. I don't know if it will happen or not. but it's gonna be a long discussion before it happens.

aysg76

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Quote from: Apiapik on April 29, 2018, 09:24:35 AM

Will never happen. Until whenever, cash will not go extinct.
Cash is the identity of a country, whose existence is protected by law. So as good as any bitcoin will not be able to eliminate the existence of cash.

Yeah, though the era of cryptocurrencies is at its height and the many of the currencies are getting digitalized but that doesn't mean that it would give rise to a cashless society. However, the role of the paper money is reduced but not fainted and will not as there are still certain areas without internet who are at a thorough use it...

JRoa

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

The cash will not be extinct because our economy will face big problem. The payment system will be messy if the cash will be extinct. Fiat currency plays important function in our economy and in our society so I believe that the government will not let it happen.

Apiapik

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Will never happen. Until whenever, cash will not go extinct.
Cash is the identity of a country, whose existence is protected by law. So as good as any bitcoin will not be able to eliminate the existence of cash.

Techno012

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Not of course even bitcoin soar higher in the coming years I am still sure that cash will still exist simply because government will not let this things happen they will surely prevent this.

Bitcoinbitcoin0909

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

We can all see how cash is slowly fading in to its extinction from this world as technology keeps on improving. A lot of alternative ways are already being produced in different aspects and it is expected that after 5 long years or less, we won't be using any physical money anymore. Though that's the thing, we should still be grateful for having physical money since we've all started from it before cryptocurrencies.

Dimid

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Cash is already dying out. It is much easier to use one card for all purchases than to carry a tight purse with full bills (if you have one;)). But still completely cash will not disappear, there are regions where there are no ATMs and the Internet, I think that such areas will remain throughout this century, so there will be some way to pay ... maybe not with money, but with something else.

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