Topic: Does this mean Cash will be extinct? - page 29. (Read 14845 times)
Many countries are preparing for a cashless economy totally free from Fiat money.It might create some hurdles in the cashless economy as among these whole population there may be many who will find it a bit difficult to deal in.In many countries the cryptos are still ban so these cash will remain as the exchange mode and their extinction might be not possible soon.
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.
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.
We don't really know what new technology may come out in the future though. It's possible that somehow in the near future, everyone will have instant access to a bank account or some form of savings account that they can use instantly with some piece of technology. For now, however, I agree with you that the removal of fiat would not fare well with society.
Another is that there are poor people who can't afford buying gadgets so if bitcoin payment will be implemented how are they going to take it? We are happy because technology keeps on evolving, making our lives easier but of course there are people who can't just easily adapt and we have to consider them.
I think it won't happen. Cryptocurrencies are still not legalized and if other countries have already done legalizing these, other countries won't be able to catch up specifically third world countries. They will still stick to what has been used for centuries.
That is true, bitcoin is not yet legalized in many countries. In fact, there are countries who opposed that use of it because they think that it is affecting badly the economy and that authorities are afraid that it is being used for illegal transactions. Our country is also getting concerned about because the population of bitcoin users here also grow when the price of bitcoin bubbled up last year. There are people who doesn't believe in bitcoin and would prefer cash and depositing cash in banks for investment.
I doubt the world will follow Sweden's lead on this initiative, at least not anytime soon. Even if the world did, I don't think it will end the use of physical cash or fiat. Yes, technology's moving forward at a very fast pace making transactions virtually seamless but there are a lot of people who couldn't afford it. Most possibly, it will only affect big companies but not small and startup ones.
That is possible but a very hard and long journey before it finally happens. Bitcoin should be legalized all over the world.
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
I think it won't happen. Cryptocurrencies are still not legalized and if other countries have already done legalizing these, other countries won't be able to catch up specifically third world countries. They will still stick to what has been used for centuries.
Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.
- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that timeSweden 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
I'm sure that it will take long to get to that point of extinction. Government will not allow to just throw their local fiat/cash and embrace digital currency. People are used to cash as their method of payment in transactions. Also it would be hard for shop and market to regulate their supply of bitcoin or any other altcoin.
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
To be honest that's quite scared me though giving me a goosebumps to be honest , cause said on the bible when there is no cash and when the money transfer or become just like an usb where it planted on our skin to pay and to buy , it is sign of evil though. So back to the topic well we can't say that in 2023 although it is a prediction but maybe just maybe , because as you can see our world becoming more and more modern.
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
No. For me, there is really small possibility that the cashless society will happen but I think it is impossible if the people will forget cash. Cash will never be extinct because people will continue to use cash. 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
Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.
- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that timeSweden 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
Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.
- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that time 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
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 am not one hundred percent sure but I can say yes. The time goes by and new invention, discovery, and situation are happening every now and then. On this natural system which is undeniable truth in human history bring us modernisation and that is why we have a lot of great people in the history who made change in this world. So the chance for this question can happen because cashless is already existing and in every little step the people are educating by the cryptocurrency and so the number of those who are aware about it is growing and take their interest. So this is truly possible. 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
Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.
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
I don't believe this will happen in a large-mass scale. The adoption level of coins is still very low for such move. For serious and big countries, issuing coins might not be a good idea.
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.
For highly developed countries, perhaps they can do a cashless society, but the majority of the nations globally are still working to obtain economic stability. The complete adoption of the decentralized money system or digital money will create a negative impact on their struggling economy. Perhaps, further studies and corrections are still needed to implement this technology entirely. Only time can answer this mater clearly. 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.
Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.
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
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 the extinction of cash is impossible. Because there are still some countries that consistently use their currency. And this makes cash still there. If you think that cash will go extinct, do you think the internet in the world will be extinct as well? Because digital currency (bitcoin) is very dependent on the internet in making transactions. So, I make sure the cash will not go extinct. 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 has always been a main argument, bitcoin replacing fiat. Yes, bitcoin has attributes that fiat doesn't have. Bitcoin has been an ideal currency especially for the digital natives. For me, in my opinion, bitcoin still is very immature and can not be as solid as fiat. Bitcoin repaired those patches that fiat left. So I think we need to stop these arguments and let the both currency do their jobs.
Maybe it will happen for many years, when internet connection is reachable to all and also when people are well educated about using gadgets and doing the transactions. But for me cash is very essential, it will not extinct because not all store uses such technology for the transaction just like sari sari store.
This situation might happen, but not in the nearest 10 years or even more. There are still many countries that do not even know about internet, and we are discussing here the probability of cash extinction.
No, it will not happen, it should not happen, cause no mattwr what the bitcoin status is now even at its highest we cant just simply replace paper money to bitcoin, its still the main mode of payment and transaction globally, bitcoun is here for people to invest in with, so that their paper cash/money will profit during bitcoins varying of price from low to high, bitcoin for me is an asset where you can gain profit, an investment for money/cash to grow.
Maybe it will happen for many years, when internet connection is reachable to all and also when people are well educated about using gadgets and doing the transactions. But for me cash is very essential, it will not extinct because not all store uses such technology for the transaction just like sari sari store.
This situation might happen, but not in the nearest 10 years or even more. There are still many countries that do not even know about internet, and we are discussing here the probability of cash extinction. Jump to: