Topic: Does this mean Cash will be extinct? - page 3. (Read 14862 times)
I do not think cash will go extinct because too many people are used to living with money, so change is taking a long time.
Cash is already disappearing in those technology-driven economies. Go to take a look at what's happening in China.
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
Even the bitcoin became popular in the world, cash will still exist in our economy. The cash has important role in our economy and there will be problems that will exist if the cash will be extinct. I am sure that the bankers will not let cash to be 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
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 will be ling for thw other countries to follow this suit since different countries has different capabilities regarding different matters want I am trying to say is that Sweden is a very rich country and some countries were not like them especially for those who was labelled as third world country and I think it will be a complicated thing if this will happened.
There are still so many actions that are limited fot the bitcoin like we cannot even go to the store and easily pay with cryptocurrency and we go ahead and use cash or cards. So it definetly takes some time to switch which is why I do not see complete cash replacement yet.
I always had this idea that the main purpose of the bitcoin is to fullfil the functions that regular money i.e.cash is missing to enjoy completely all the payment methods that available.
No cash will never be extinct because there are always some country's that are poor and don't have internet so they need a form of payment method to buy their stuff. So that is why cash will never go extinct.
I think the only reason why the Nordic countries like sweden could eliminate fiat money is due to the fact that they are very social democratic countries, and have almost none poverty rates. But could you imagine eliminating cash in the US? How would the droves of homeless and impoverished people pay for anything? They certainly can't get credit cards or debit carbs, because they either don't qualify or can't afford the fees. There has to be a very very stable socioeconomic environment for the elimination of cash, 100%.
I do not think we will ever get to the point when we are ready to completely resign from regular money i.e cash because that is the first payment option ever accepted by countries all over the world and if we decide to replace it with the bitcoin it brings us to unbelievably long process.
There is no need to worry about it. The traditional money will always exist, and I can admit that dollar will be always the king of fiat. But cryptos will be used widely.
This doesn't mean cash will be extinct. Cash is strong against cryptocurrencies. If crypto takes cash down, this will be a nightmare for the capitalist system, I think that's why it won't happen.
I do not think we will ever get to the point when we are ready to completely resign from regular money i.e cash because that is the first payment option ever accepted by countries all over the world and if we decide to replace it with the bitcoin it brings us to unbelievably long process.
There is no need to worry about it. The traditional money will always exist, and I can admit that dollar will be always the king of fiat. But cryptos will be used widely.
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 dont think that cash will ever be extink, because it is still easier to use and everyone has access to it. Unlike digital money that uses internet and other gadgets that only few people can access to it.
It is possible to see people without money in the future while on the other hand it can be our only dream to see the public without paper money. There are so many users of paper money and it's really a hard job to convince each and every one of them.
Even though crypto currency’s are doing really well I don’t ever think they will be or take the place of cash. There are many reasonings behind it just one of them being not all people understand crypto currencys and how they work
There is no one in this world who can tell us what is going to happen in the future. But I think cash still will exist in long time. Because most importantly, millions of people still do not have access to the internet and many older people are unable to do so. But maybe some developed countries, it is possible to replace cash with virtual currency.
Paper money can't be vanish because there are still remote areas where ATM is not available or cellphone signals are not good so to be able to use only electronic payment they need to develop the places and educate the citizen on using these electronic payment though it could happen on cities where technologies are fully develop and people are used to it.
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
Go to a clearing can only afford technologically advanced countries with a large urbanization, that is, a large percentage of the urban population and above all - with a greater standard of living. Countries with medium and weak economies can not afford it, because people are not yet ready for this. In addition, I still do not believe that the state can completely refuse cash and go purely to use non-cash money. It seems to me that part of the general public will not want to give up cash. In some cases, their use is more convenient than different bank cards. 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 and bitcoin will go together for a long time. I think cash will never be extinct, many direct transactions that will continue to use cash and will not be possible using virtual money or bitcoin. Just imagine you live in a country with a poor or no internet connection. How to use virtual money for transaction.
Let's hope so, IMO cash is an outdated mean of storing value, too many limations, and risks when we allow central entities to determine de supply (hyperinflation). Physical cash is on it's way out, some countries have already set dates to be cashless states.
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 takes a long time for everyone to know crypto, and we are aware for the moment that knows crypto only a tiny fraction of the world's population.
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
Cashless society makes transactions more faster and many people are comfortable in sending payment through online by using their phones and cards because it is much convenient to use than standing and falling in line just to pay bills and buying things. I think there are still some people in sweden will still be using cash in 2023 because there are poor people who can't afford buying a phones and cards, so i think cash will still exist in sweden in 2023 and in other countries if that happen. 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
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