Does this mean Cash will be extinct? - page 28.

candra raditya

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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

Chances will be, cash will be replaced with digital money, technological advances will facilitate us in various aspects, one of which is crypto money with all the ease and benefits.

linapel318

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As long as governments do not acknowledge cryptocurrencies, cash won't extinct.
I think it will take a long time for everyone to trust and get used to cryptocurrencies.

Yushikarokun

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I accept as true with at some point we’re not going to apply cash anymore. but that doesn’t suggest it’s bitcoin’s fault. most people now needs clean get admission to to their cash. They want to buy something with out bringing a real cash with them. because they’re frightened of being robbed. And because of revolutionary technology that we've now, transactions are usually made via the net. I accept as true with a few years later from now. There can be a cashless society wherein no person needs cash anymore. So it’s possible for the cash to vanish ultimately.

surfinonmyownwavebaby

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We are already on our way to cash being extinct as it currently only occupies 8% of all cash worldwide. With that in mind, this news from Sweden should come as no surprise although I would worry about the control of the system. It is bad for all actors involved when the government not only controls the money supply, but controls who gets to be a part of the system. Thankfully, we have Bitcoin so we need not worry about that as much

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Coleth

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Quote from: Willitivity on October 14, 2017, 05:33:09 PM

Total removal of fiat from the society will do more harm than good.
No matter the level of technological development, not everyone will be able to embrace cashless transactions. And also, most services need to be paid in cash.

I agree with this, even though we are facing a crypto world in the future cash will never extinct. I think Government will always consider the situation of people, not all people can do or operate advance technology and of course not all can afford. If incase thats the case they need to educate people to learn and know how to operate gadgets and provide free internets that will never last to have access to. Even vendors must learn. But it will be a step by step process and i don't think it will let paper money extinct.

james23

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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

Yes it maybe extinct also to those our countries, but cash I think doesn't got dead

Abigail.Parsons

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I think it's safe to say this is the direction our society is heading in. The banks want rid of cash so they can have more control. It's a basic human right to transact in privacy and this right is not far away from being wiped out. I think I'm the future bitcoin could be the equivalent of a digital cash surrounded by state issues cryptos but the only thing that worries me is bitcoin really isn't fully private and with enough effort you can track who made a transaction so it leaves me slightly uneasy with there being no cash because in its current form bitcoin doesn't replace the privacy element of cash

Cryptagio

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There is such thing as "monetary aggregates". They are used to break down the money supply in an economy into 4 major groups by the level of liquidity. The first aggregate M0 is composed of cash and in most developed countries the proportion of M0 in total money supply is lower than 10%. Cash is slowly passing away

Tiktik

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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 is too impossible to happen because not all people and business are engaged in cyber world. If that's the case, how could you buy a candy to sidewalks when you dont have small amount of money because for sure bitcoin price is high by 2023.Having cash n your wallet anytime is a lifesaver in times of need. No one can stop fiat besides It exist a thousand years.

fearcoka

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Quote from: Epimetheus on February 11, 2018, 01:00:08 PM

Quote from: Edrian on February 11, 2018, 02:58:31 AM

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?

Not in a hundred years, cash is far important it was used all over the world if one country stops the transaction of cash how can they trade with another country who used cash too? Some country ban cryptocurrencies so they only use cash if one country makes transactions to other countries it will not going match if one currency is digital and one is cash. People need to do more great research and studies before they use other currencies as a standard currency.

The whole world uses cash.Every transaction is done by cash only.Cash is under the control of central bank or the governmemt so its integrity is maintained at any cost.Cash can be used anywhere and anytime as it does not require any internet connection.Cash cannot be overtaken by any cryptocurrency or dogital money.Many people still do not know about the cryptocurrencies and use only cash.

Internet will become an indispensable tool for the world in the future, maybe, in next 10-20 years. Because on the world, there're still many countries don't have enough funds to create a network of continuous operations with global coverage.

Tsugihara

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it seems that it is impossible, although money is not everything but everything needs money.

twthmoses

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Quote from: Hopeful2017 on February 11, 2018, 01:02:30 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

That is still a plan. But there are already attempt in doing such but they are failed to extinct cash. Maybe, if Sweden would implement a cashless one, what will happen if they travel abroad or to countries in which fiat are still the main currency? If all countries would implement cashless, then there will be a great disaster. Meaning, it would be impossible.

Sweden is not planning to permanent terminate cash, they are going for lowering the use of paper cash, - a thing that has been going in all Nordic countries for 10 years now, - and using the electronic form of cash, namely credit cards and Mobil pay. Something that already account for 80% of all transactions.

You go to another country that use another currency, you exchange! just like you do today.

Hopeful2017

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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 is still a plan. But there are already attempt in doing such but they are failed to extinct cash. Maybe, if Sweden would implement a cashless one, what will happen if they travel abroad or to countries in which fiat are still the main currency? If all countries would implement cashless, then there will be a great disaster. Meaning, it would be impossible.

Epimetheus

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Quote from: Edrian on February 11, 2018, 02:58:31 AM

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?

Not in a hundred years, cash is far important it was used all over the world if one country stops the transaction of cash how can they trade with another country who used cash too? Some country ban cryptocurrencies so they only use cash if one country makes transactions to other countries it will not going match if one currency is digital and one is cash. People need to do more great research and studies before they use other currencies as a standard currency.

The whole world uses cash.Every transaction is done by cash only.Cash is under the control of central bank or the governmemt so its integrity is maintained at any cost.Cash can be used anywhere and anytime as it does not require any internet connection.Cash cannot be overtaken by any cryptocurrency or dogital money.Many people still do not know about the cryptocurrencies and use only cash.

Xenoph0bia

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Quote from: Edrian on February 11, 2018, 02:58:31 AM

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?

Not in a hundred years, cash is far important it was used all over the world if one country stops the transaction of cash how can they trade with another country who used cash too? Some country ban cryptocurrencies so they only use cash if one country makes transactions to other countries it will not going match if one currency is digital and one is cash. People need to do more great research and studies before they use other currencies as a standard currency.

No cash cannot become extinct at any cost.Cash is being used in this world from the traditional time period.Every single person uses cash instead of cryptocurrency.Cash can be used at any place and at any time.But in order to use cryptocurrency you need to have an internet connection which is not possible everywhere.Cash is also legalised by the state unlike cryptocurrencies which are not legalised and are also even banned in some nations.

Edrian

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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?

Not in a hundred years, cash is far important it was used all over the world if one country stops the transaction of cash how can they trade with another country who used cash too? Some country ban cryptocurrencies so they only use cash if one country makes transactions to other countries it will not going match if one currency is digital and one is cash. People need to do more great research and studies before they use other currencies as a standard currency.

BitcoinPaw

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Cash is really weak stuff that can be easily stolen, counterfeited and many other sutff because it's physical currency. Bitcoin and other digital currencies is better in this case.

Donceng

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I'm not sure about that, it does not mean in the presence of bitcoin, cash will be extinct. no. cash will not go extinct until whenever. Why is that? Because it is not easy to replace the important role of cash in this world even if replaced with bitcoin or other crypto currency because all walks of life use cash as a tool to transact in everyday life.
and many people still do not understand how to use bitcoin money or other digital currencies

Jeepney_koh

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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

For the first world countries, cash may extinct and may die but for the third world countries where internet, cards and everything can be fake and very slow, I think cash will still exist. I already travelled across countries that has poor developement and they are really in need of cash. Credit cards can be hacked and even money can be fake.

christina30

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I think digital crypto currency is good but i guess it doesnt mean that cash will extinct. Because not all people in the world know bitc0in. And not all government accept bitcoin especially china.. they completely banned crypto

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