Does this mean Cash will be extinct? - page 13.

sharnel18

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Quote from: merchantofzeny on October 14, 2017, 02:27:48 PM

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 Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.

Its a long way to go,by eliminating fiat currency because theres a possibility to have a negative effect on every community especially to those who are not knowing and cant understand yet what is cryptocurrency and that maybe getting disadvantages of paper money.

JPablo

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Quote from: dasher797 on October 14, 2017, 06:34:48 PM

Belived or not, people in the future will no longer use paper money, it will be replaced by gold. Probably the gold is physical or virtual, I do not know which one.

I don't think so and it's hard too believe because even in government policy will not allow what you said.But if that will happened maybe for a long long years.

rimueng agam

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This is only a consideration is not yet certain that the cash currency will be eliminated by the Swedish bank or the government because they really need paper currency even though now the era of digital currencies is very phenomenal today, but if the missing paper money will be difficult to make transactions.

nara1892

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Probably it will not extinct, but rarely used. Maybe, cash money will be 'alternative' payments in the future for areas with difficult Internet access.

Angi

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It will. Because the economy of each country are growing day by day and also the technology so the people of each country don't need a cash society all people are busy and need a fast and easy transaction so definitely cash will be extinct.

Brangos99

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Could be, the existence of cash is projected to be extinct in my country. This is in line with technological developments that enable the rampant circulation of electronic money. Now deals in big cities use a more modern payment system through online or non-cash.

surbanaB

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Quote from: thundercrystal on April 27, 2018, 07:17:45 PM

Quote from: mitchr4 on April 25, 2018, 06:04:08 AM

Personally I will not accept that things happen because it only worsen the economic state of a country. Indeed later we will face the digital era but that does not mean if the cash will be totally extinct. The use of cash in daily activities is very useful also for real world interaction as well.

Well i can not totally say that the cash will be extinct in this world, but i believe that it has a chance that it will happen in the future, because right now there are just only few people who knows and who support digital currency but maybe in the future, people will realize the real value of digital currency.

Personally, I think that it’s hard to reject paper out of using by using digital, but with the development of technology nowadays, it will be probably possible. Bitcoin or cryptocurrency are growing so fast, it’s said to be popular in most parts of the world. However, there also have many people do not know anything about it. Thus, it’s not easy for a country to spread the digital currency. Nevertheless, it will completely occur if they gradually take digital currency as a main currency instead of cash, people must access with digital and they are compulsory to use digital currency by their government.

xbl1008

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not exactly but fiat and crypto currency might co exist with each other because as of now bitcoin is not yet globally accepted and some countries are still relying fully in fiat and not have any idea of what crypto currency or bitcoin is, but I think this is just like the internet back in the 90's a lot where against it because they think that is impossible to happen but look now all of us are using it to connect to each other and access data anywhere.

Pelevelyl

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Everything can be, but it is a very long process. Although now you can do without cash, enough cards in your pocket.

goldenplak

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Not necessarily money should be wiped out, but perhaps bitcoin is going to be of much worth than having money. Keep in mind you cant purchase items in the market through bitcoin, there's gap for use in bitcoin and funds.

piterpie

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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 it is possible to stop the production of paper money to accept Bitcoin and electronic money. Every citizen in Sweden will use Bitcoin, which is my opinion

Cita1

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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 good thing with this kind of system is the easy access and faster transactions. But wiping out cash is a long way to go this needs proper information to all the people. In our country there are a lot of people who don't have internet access and don't even have electricity.

IsabelCornd

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First of all if one country remove cash it doesn't mean that others will start doing the same, for example cash can't be attacked by hackers and also can't be stolen and used easily. Digital money also have many problems and our world still not ready for this cahanges at my opinion.

rose9696

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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 do not think other countries will follow this new revolution. I still see the value of cash, it is very useful for certain cases.
I think our world should exist two types of money to be easy to use in any case. because everyone has their own hobby.

Vaniaevergarden

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Not that way, fiat currency is still valuable all the time. Although crypto currencies especially bitcoin are crashing fiat but isn't enough to wipe out physical money. Having both currencies are just a good idea, in which we have an options what we gonna used in a certain transaction. Because having fiat money into nothing is quite impossible to happen, as it's still valued by other people as of now.

airdrophunter

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Well, basically, if all countries will follow what Sweded is doing, then that answer will lead to a big YES. But i don't think every nation has the same idea like Sweden has. Even in the advent of cryptocurrencies is not a guarantee that cash will be extinct, soon.

FiveReelsTwo

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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 is hard to happen in our country since few of us are acquinted with cryptos . Most of us are equipped with traditional mode of payment, One factor might be, people are lack of knowledge, lack of materials (gadgets) , and there are places in our area are rarely reach by electricity due to its location and security aspects.

thundercrystal

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Quote from: mitchr4 on April 25, 2018, 06:04:08 AM

Personally I will not accept that things happen because it only worsen the economic state of a country. Indeed later we will face the digital era but that does not mean if the cash will be totally extinct. The use of cash in daily activities is very useful also for real world interaction as well.

Well i can not totally say that the cash will be extinct in this world, but i believe that it has a chance that it will happen in the future, because right now there are just only few people who knows and who support digital currency but maybe in the future, people will realize the real value of digital currency.

Eijrafarm

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I think FIAT will remain. If we think about it we used cash to purchase in digital currency both of this two are currently working together. It is not necessary to remove one of it.

Lakash

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cash will still remain. cash already existed before Christ, went through everything. From wars to calamities, it still remained and will not be extincted.

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