Does this mean Cash will be extinct? - page 24.

dogz12

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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

Our country have a hard time coping up with the advancement of technology so i dont think that our local currency would be replaced by digital currencies, not for the next 20 years i guess.

wack slacker

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Cash will survive and will not go away. Remember that what people want is money, it will be money. Money is just a hold of value and is used for exchange. Not all countries use cryptocurrency and not all people have access to and use of electronic devices.

ohkkstaaahp

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“The Premier Digital Asset Management Ecosystem”

Cash never partying. BTCs can never replace cash, because BTCs are not highly liquid, they carry more risk than cash, and requires using BTC you have to know about the application. This would not be suitable for some low level individuals.

TheClownSong

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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

Nordik country always make step ahead compare other country to make their people more prosperous. If cash eliminated from payment, people wealth more safe and its much more safe to store our money on digital rather than paper money. Beside that, for government they can collect taxes more easily. But in third country, I am believe paper money still used because their peoples need adapting technolgy to move foward on digital

Farvin2

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I dont believe will be soo easy to remove the cash from circulation. There will always remain so many amongst us who will not switch towards digital money and will keep on using paper money. Cash would still be used and bitcoin would be just another form of payment and that is how we will have it.

maculeth

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BountyMarketCap

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cash will not go away just because bitcoin is getting popular. bitcoin works as an online payment tool and it will not interfere with cash performance. which would be surpassed by bitcoin is another online payment system like paypal.

chrisculanag

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Quote from: Bobocantik on April 13, 2018, 08:45:34 PM

I don't think bitcoin will go further into that because cash will always be on our default. It is such a big deal for it to be diminished by a cryptocurrency. Bitcoin is such a big crypto and investment but cash is bigger than that. We all need a hard copy of what we put hard work onto. It will be hard to keep everything computer automated system so money or cash will still be needed on any part of the season.

Yeah , your right . Cash is very important in all aspect of our life , and no body will erase this. Bitcoin is for online purposes , its big help too to other but its for online transaction , means if you havent internet connection you can`t make transaction . I think we need both of this ,because both of this have a big help to us.

Bobocantik

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I don't think bitcoin will go further into that because cash will always be on our default. It is such a big deal for it to be diminished by a cryptocurrency. Bitcoin is such a big crypto and investment but cash is bigger than that. We all need a hard copy of what we put hard work onto. It will be hard to keep everything computer automated system so money or cash will still be needed on any part of the season.

Trivelius

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Quote from: ?? on ??

It is right that cash getting influence rather in the market but it is difficult that due to cryptocurrency fiat will eliminate completely because mostly world population is not more educated to utilize bitcoin. Knowledge of computer and internet to utilize bitcoin is necessary and most important.

Bitcoin usage will surely increase too much in future, but still i do not think that it can eliminate fiat currency totally, people will try to use both the currencies, Fiat will exist because still in modern time most of the people still illetrate and therefore they do not have any knowledge about computer and internent, therefore they will continue using fiat currency for a long long time.

varun bee

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nordic countries are pretty small in size so their social experiments may not have the same results if applied to a huge ass country, over billion people in the world are unbanked so first they have to included in the banking system and then someone can figure out that now we don't need cash. rest of the world is growing in a different pace and small sample size experiments may not will have many challenges if other countries try to adopt the same model.

nur rochid

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Quote from: EnricoGomez on April 10, 2018, 01:00:35 PM

It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

many types of people ranging from technology updates to technology-poor, i think to change the cash currency is very difficult and requires a long time. let alone current bitcoiner is still slightly compared to total population of the world

WolkGold

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Quote from: EnricoGomez on April 10, 2018, 01:00:35 PM

It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

In my opinion, cash will still exist and grow in the modern world. It is really necessary and effective and carries great significance from the government and the country. In a certain way, a country's cash will reflect the development of the economy and society. It is still a part of life and a successful tool for the government in running and building the country.

EnricoGomez

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It will be a take long time for cash extinct even though most of us are now using the internet and some of its digital currencies are oftenly used for buying things in the internet. Maybe some of the rich country will fastly adopt bitcoin as their currency but not that fast because some people might not recognize what bitcoin or othere digital currency is.

STT

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The reason crypto does so well is cash is already near extinct. The current exchanged cash notes are of no fixed value and just a promise written on a piece of paper. Some even mention, I promise to pay the bearer. Known as a promissory note - https://en.wikipedia.org/wiki/Promissory_note or a zero coupon perpetual bond. All cash now is based on debt not value or an asset.

Previous cash was a promise to exchange for silver or gold, an actual fixed value now now paper cash is not superior to any other promise of value except by faith or confidence in the issuer of that debt

lelylely

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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, I think it will happen, paper money will be lost and replaced with digital money. Changes will always be there, physical money transactions will be replaced with virtual money, maybe now many are refusing at various parties, but in the future there will be a change.

3acaga

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Hello, yes, I'm 100% sure that cash in the future will go to the second plan. It will happen about 20-30 years, and this need not be feared, worry. The world moves forward - soon with the touch of our hands, we can do any cash flow.

ooeygooeygold

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Though everything nowadays are influenced by the fast growth of technology but not everyone has an access of it especially those who are not familiar with online transactions and those who are less fortunate that belongs to the lowest class of the society that dont even know how to read and write their names. Unless there will be no more poor people in the world then we can go cashless which I think takes almost forever to achieve.

bitcoinminer45678

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Quote from: Pujangga on April 07, 2018, 11:48:19 PM

Although the use of bitcoin is very dominant, but I sure will never be able to replace cash, this is because cash transactions are very fast and workable without the need of internet so cash will never extinct.

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.

anjelaro

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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

Why you think that all countries will follow this ? Especially , developing countries where there is lot of illiteracy are not going to follow this as many people prefer cash there.

hroub

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Quote from: ?? on ??

It is possible but it don't think it is going to happen anytime soon, I admire Sweden for this brave initiative but I think it will have a lot of negative repercussions to the nation's economy if we are going to eliminate its national currency plus it will take a lot of time and effort for the people especially the not so tech savvy ones who doesn't even know what and how digital currency works.

Just curious. How did you gain control of this account? You are not the original owner of this account, Mr. Ethan Mckibben?

BTW, we also have your email address, VPN company, IP, and location, among other useful data.

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