I cannot really say that cash will be extinct someday or in the future because there are some countries who banned the use of cryptocurrency or bitcoin so they will still be using the most commonly used cash and most of all there are still many places in the world which do not have internet connection -- so if you do not have an internet connection then there will be no bitcoin or any other cryptocurrencies and with that being said the most commonly used cash will always exist and never go extinct.
Topic: Does this mean Cash will be extinct? - page 35. (Read 14845 times)
All this can be seen in 2017, 2017 marked many ICO projects came out, I believe in a developed country will choose to remove the paper money in future
No, it can not go extinct. Eve though payment through Technology is very convenient for consumers and the advantages and growth of electronics, it would be a big mistake to count the cash from the economy. Cash tends to be the most efficient means of payment in everyday transactions. and In emergencies like, disaster, disaster etc., cash is the easiest and very easy way to use because cash is the real and key payment in the market.
Removing bills and cash will cause difficulty to many people and to the economy. Cash is the very efficient way for the people in any transactions, most especially financial. If happens that Cash will be extinct and electronic payment is the new process, then only rich people can access that. The only applicable transactions for poor people who cannot afford to have phones and internet connection is cash or money, to buy and sell. So i think, digital currency cannot replace cash.
In the near future, it will still be widely used because the benefits it brings are irreversible. For poor and underdeveloped countries, it is very important for them. Anyone can predict the future of money, however, there may be things that digital currency will never replace.
Right! fiat money will never be replaced by any digital currencies, even bitcoin who amongst them has the biggest chance to do so. We've been so used with the idea of using fiat money in almost everything we do, transactions in daily life and both fiat money and digital currencies has a lot to offer that either each of them don't have so it will be possible that they be used simultaneously. Bitcoin has no chance to replace cash. It is not at all suited for small daily business. Other coins are far better for that.
Cash will never be extinct for it still has the characteristics that bitcoin or any other cryptocurrency does not have. One important thing is being regulated which some might find a disadvantage of cash. Yes at some point it is. But it also serves as the equalizer that balances and makes sure that everything is in equilibirium. I am talking about the economy. The economy needs guidance from the government so that it can run smoothly and regulating the money supply is their way of guiding it.
Cash wont be extinct as it is wide use by people all around the world and cash is needed for micro payments locally, you cant expect to pay someone with digital currency if the one you are paying doesnt know or have the equipment to receive one.
For my own opinion i think no,why?
Because there is some nation who are lack of gadget or we called the 3rd nation who experiencing poverty so paper/cash money do exist for many years from now😊
Because there is some nation who are lack of gadget or we called the 3rd nation who experiencing poverty so paper/cash money do exist for many years from now😊
I honestly want to believe that Sweden will reach their, even though it seems really hard. The world lives on cash for a very long time and sadly I cannot see it changing over the course of 5 years. But, if they manage to do so it could come out to be for the greater good - others will follow and soon we will have cashless world maybe! 
Nope! Cash will not be extinct. Cash is the most abundant legal tender in the world. Crypto currencies have just started and have a very long, long, long way to go to supersede cash.
Not all of the countries will be following that steps immediately, people are used in using cash than card or digital currencies, and not all countries are used to this kind of technology especially the third world countries. This third world countries have much to improve or develop rather than making this in circulation, other countries might do this earlier than Sweden though.
Even this would be happen in future, but i haven't seen yet how this can changes country population economy, as we already know using cash for transaction are going to simple. For some 3rd world country, cash still more valuable for trading some stock. It is because cash has physical form that can be exchange into other volume at that time, that's Bitcoin doesn't have yet. So for now, i don't think so cash will be extinct.
Not too much possibly, as soon as the government feels that paper money is not that too relevant in the society they will make sure it will continue weel the economy but i feel it will still gradually lost and bitcoin and other cryptocurrency will be the primary means of payment, does this means Cash will be extinct? Well we have to see if Bitcoin can fill all the demand needed
In the near future, it will still be widely used because the benefits it brings are irreversible. For poor and underdeveloped countries, it is very important for them. Anyone can predict the future of money, however, there may be things that digital currency will never replace.
Right! fiat money will never be replaced by any digital currencies, even bitcoin who amongst them has the biggest chance to do so. We've been so used with the idea of using fiat money in almost everything we do, transactions in daily life and both fiat money and digital currencies has a lot to offer that either each of them don't have so it will be possible that they be used simultaneously. Bitcoin has no chance to replace cash. It is not at all suited for small daily business. Other coins are far better for that.
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 my opinion not, because the existence of bitcoin is just as a digital currency and in every country already have its own currency and the existence of bitcoin will not take over the currency in every country .
There are billions of people on this planet who don't even have access to fiat banking, do you think they are going to wait for it to come to them? or pick up the readily available cryptos, at the cost of a cheap smart phone, which, lets be honest, most already have because the value it provides far outweighs the cost.
There is very little reason to be holding onto bitcoin or any crypto in a first world country, outside of you see it being adopted long term.
The poor have a choice between their own currency which is mostly going down, or bitcoin, which at least goes up sometimes, and the more and more people from these kinds of countries realise their money is safer outside of their system.. then things will take off and development will have to catch up to hype (as it already does)
You got it all wrong, where is adoption taking place, between the rich people and the middle class or among the poor, bitcoin is being adopted by those that have the money and can afford to invest some of their money in a speculative adventure, the poor cannot do that, the people that are really poor have barely enough to eat they do not have money to buy smartphones. There is very little reason to be holding onto bitcoin or any crypto in a first world country, outside of you see it being adopted long term.
The poor have a choice between their own currency which is mostly going down, or bitcoin, which at least goes up sometimes, and the more and more people from these kinds of countries realise their money is safer outside of their system.. then things will take off and development will have to catch up to hype (as it already does)
In the near future, it will still be widely used because the benefits it brings are irreversible. For poor and underdeveloped countries, it is very important for them. Anyone can predict the future of money, however, there may be things that digital currency will never replace.
Right! fiat money will never be replaced by any digital currencies, even bitcoin who amongst them has the biggest chance to do so. We've been so used with the idea of using fiat money in almost everything we do, transactions in daily life and both fiat money and digital currencies has a lot to offer that either each of them don't have so it will be possible that they be used simultaneously. Bitcoin has no chance to replace cash. It is not at all suited for small daily business. Other coins are far better for that.
In the near future, it will still be widely used because the benefits it brings are irreversible. For poor and underdeveloped countries, it is very important for them. Anyone can predict the future of money, however, there may be things that digital currency will never replace.
Right! fiat money will never be replaced by any digital currencies, even bitcoin who amongst them has the biggest chance to do so. We've been so used with the idea of using fiat money in almost everything we do, transactions in daily life and both fiat money and digital currencies has a lot to offer that either each of them don't have so it will be possible that they be used simultaneously. 
In the near future, it will still be widely used because the benefits it brings are irreversible. For poor and underdeveloped countries, it is very important for them. Anyone can predict the future of money, however, there may be things that digital currency will never replace.
I think for the next few years cash money will still be widely used. I think the advanced technology still takes a long time to be used by everyone in the world. many people who are still technologically blind they will not understand how to use digital currency. they are still very dependent on cash, I think for the next 20 years cash will still be the main choice. at least 2 generations after us, may have rarely used cash ( but not extinct)
Not all of the countries will be following that steps immediately, people are used in using cash than card or digital currencies, and not all countries are used to this kind of technology especially the third world countries. This third world countries have much to improve or develop rather than making this in circulation, other countries might do this earlier than Sweden though.
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
The majority of dollars are already transmitted digitally and every dollar note made out of cotton costs more then 1 dollar to make so the reality is this is already the true for some time now. Most money is passed through bank accounts not through cash, every pay packet is used to pay off bills from the previous month where no coins were ever involved.
I like to think the final removal of coins will mean people place value in other objects and perhaps understand the number on a bank account is just a government IOU not a value saved so much. People might save gold or diamonds instead of cash, but they would have to save to start off and at present most trade debt in the West anyhow
Jump to: