Topic: Does this mean Cash will be extinct? - page 2. (Read 14845 times)
Slowly but surely cash will be extinct, this is because all users increasingly feel that the cash problem is too complicated to make cryptocurrency the best solution.
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.
Honestly I dont think so but maybe in the future paper money will not be more eligible to use it because of the hitech technology that its really manipulate us. 
I think it will happen in the near future because nowadays there are many people who wants to used digital money. There are a lot of people who used paper money cash although some country didn't accepting electronic money yet. But some country starting to do electronic money because they want to show to other people that they accept it so probably it will spread in the future.
Agree. I think in the near future a lot of countries will use cards or something that can be used as an account for their money. Some countries already lives in a cashless society so it's really predictable that a lot of countries will be a cashless society in the near future, if a lot of countries did it, it will spread till almost of the country will be using cards for payment. There will be some countries who will use cash in the future, but it is guaranteed that it is only a few.
It may be, but not any time soon, as crypto does not yet have a physical form, which is required nowadays. Or the society changes, or crypto changes.
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 wont happen .. the bank will is scared of cryptocurrency and they are against cryptocurrency .. 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
and i think they believe in future there is a possibility where people generates Cryptocurrency and it might affect the Money globally.
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
There are countries that could afford to have a cash less society, it means that they have enough equipment and technology that can facilitates such major innovation. Perhaps, it is true in some developed countries, but worldwide, perhaps it is yet too ambitious. Consider countries that are still developing and have struggling economy, it would be so difficult for them to abolish the use of traditional money and force the poor to understand the new financial system. Innovation really takes time and studies to become applicable, perhaps in due time, gradually it may happen. Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Some country with advance technology and their citizen adopting technology like switzerland already applying cashless society and they dont use cash money for transaction. But in some third country, their access on internet and digital world is limited and they much using cash money.
I think every country have their own challenge because every country have their own infrastructure
I think it will happen in the near future because nowadays there are many people who wants to used digital money. There are a lot of people who used paper money cash although some country didn't accepting electronic money yet. But some country starting to do electronic money because they want to show to other people that they accept it so probably it will spread in the future.
It could happen if the cash will be reduced, because now there are many people who use digital currency that is very practical to use anywhere and just use a cart card or another. There are so many users of paper money and it is really a difficult job to convince each and every one of them.
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
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
In the next 10 years, digital money will completely replace traditional paper money, but this will not eliminate the corrupt and false capitalist banking system behind it.
I imagine that in future our children and grandchildren will pay all transactions and goods and services with plastic cards or through electronic money transfers via mobile banking services on smartphones, which means paper money and coins will be extinct and not used again in the future.
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
Sweden can switch to the use of non-cash payments because it is a country with a very high standard of living. Although I'm pretty skeptical about this opportunity and I think that in life there will always be situations where cash will be simply irreplaceable. Several more states can follow its example, no more. In general, the world has not yet reached the level of development where it would be possible to talk about the need for and the possibility of switching to non-cash payment, and especially the use of crypto currency. 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 cash will never extinct because not all country knows crypto especially on those country that not yet reach the modern technology. And infact there many store didnt yet accept bitcoin thats its still need cash
Bitcoin could never take currencies seats. Maybe for now but I think it would take lot's of time to make bitcoin the only currency that exists because of the following reasons.
1. Bitcoin does not have any physical appearance it is just a mere virtual thing that only exists in the internet.
2. There are lot's of currencies out there and taking all their crowns would be difficult.
3. Not all countries accept bitcoin at all.
4. Bitcoin is still young and unknown to many, bitcoin need to grow more reputation to be considered a real, reliable, and usable currency anywhere.
I do not think cash will extinct. The technology will only limit cash in the market. Government will still produce papers money and will keep printing it because the technology can not reach far flung areas of certain countries which are too poor to let the people use the technology and take the risk to loose the already limited money they earn for living. 1. Bitcoin does not have any physical appearance it is just a mere virtual thing that only exists in the internet.
2. There are lot's of currencies out there and taking all their crowns would be difficult.
3. Not all countries accept bitcoin at all.
4. Bitcoin is still young and unknown to many, bitcoin need to grow more reputation to be considered a real, reliable, and usable currency anywhere.
Currently the economic system in Indonesia is still dominated by cash payments. However, now transactions in major cities use a more modern payment system through online or non-cash.
Yes, many countries are still using cash and have not accepted electronic money, so in Indonesia this is too normal. But they began using electronic money to show that their country was growing and accepting money. Probably in the future encryption code will spread out in the market. 
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
There are countries that could afford to have a cash less society, it means that they have enough equipment and technology that can facilitates such major innovation. Perhaps, it is true in some developed countries, but worldwide, perhaps it is yet too ambitious. Consider countries that are still developing and have struggling economy, it would be so difficult for them to abolish the use of traditional money and force the poor to understand the new financial system. Innovation really takes time and studies to become applicable, perhaps in due time, gradually it may happen. Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Cash will not go extinct, even though there are many new innovations at stake in countries that make it easy to transact, but cash will not go extinct, because cash is indispensable to all the people in the world, because if digital money or the like will only be used by people who have access to the internet are not used globally.
Bitcoin could never take currencies seats. Maybe for now but I think it would take lot's of time to make bitcoin the only currency that exists because of the following reasons.
1. Bitcoin does not have any physical appearance it is just a mere virtual thing that only exists in the internet.
2. There are lot's of currencies out there and taking all their crowns would be difficult.
3. Not all countries accept bitcoin at all.
4. Bitcoin is still young and unknown to many, bitcoin need to grow more reputation to be considered a real, reliable, and usable currency anywhere.
1. Bitcoin does not have any physical appearance it is just a mere virtual thing that only exists in the internet.
2. There are lot's of currencies out there and taking all their crowns would be difficult.
3. Not all countries accept bitcoin at all.
4. Bitcoin is still young and unknown to many, bitcoin need to grow more reputation to be considered a real, reliable, and usable currency anywhere.
Currently the economic system in Indonesia is still dominated by cash payments. However, now transactions in major cities use a more modern payment system through online or non-cash.
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
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 depends on the state government, if the government is interested in the crypto system and uses it as the country's currency then the fiat currency will become extinct. But if the government forbids crypto entry in the country then the fiat currency will still exist as a means of transaction.
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
There are countries that could afford to have a cash less society, it means that they have enough equipment and technology that can facilitates such major innovation. Perhaps, it is true in some developed countries, but worldwide, perhaps it is yet too ambitious. Consider countries that are still developing and have struggling economy, it would be so difficult for them to abolish the use of traditional money and force the poor to understand the new financial system. Innovation really takes time and studies to become applicable, perhaps in due time, gradually it may happen. Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
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