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)
Topic: Does this mean Cash will be extinct? - page 37. (Read 14845 times)
In China, in addition to data currency, there have Alipay and WeChat payments, Huawei pay and mipay payments, and internationally, there have Apple pay and Samsung pay.
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
If all other countries followed suit. Inevitably, mean Cash will be crushed.
And at that moment, Maybe bitcoin/cryptocurrency is the only currency they (community) know. But unfortunately, bitcoin / cryptocurrency can not do it, because the supply of bitcoin / cryptocurrency is very limited.
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
If all other countries followed suit. Inevitably, mean Cash will be crushed.
And at that moment, Maybe bitcoin/cryptocurrency is the only currency they (community) know. But unfortunately, bitcoin / cryptocurrency can not do it, because the supply of bitcoin / cryptocurrency is very limited.
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.
True that, not all the strata of the society have adequate knowledge on cryptocurrencies and their use, it would be really difficult for bitcoins and cryptocurrencies to completely wipe out the fiat currency from the economy
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
It is not possible because most of the people in our society to use bitcoin and replace the cash. I am one of the people who are believing that cash will never 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
Why are we using the word "extinct"? It is the word we use in living things that is not now available to be seen like the dinosaur and mammoths. The word here is not extinct but replace, still bitcoin may be used by most of the people in the world, still bitcoin will never replace fiat or cash, for not all people will quickly use this kind of currency that is not that trustworthy.
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
It is not possible because most of the people in our society to use bitcoin and replace the cash. I am one of the people who are believing that cash will never 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
I don't think they will totally wash cash away because not all people on sweden are capable to use virtual money so there will still people who will use cash in the market. And because of bitcoin's volatility it will hard for them to cope up.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
Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.
So for now, or never? 
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 don't think they will totally wash cash away because not all people on sweden are capable to use virtual money so there will still people who will use cash in the market. And because of bitcoin's volatility it will hard for them to cope up.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 to make it happen I think it will not be easy need a long process because not everyone understands the existence of the form of virtual currency. this needs a realization long enough.
Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.
So for now, or never? Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.
So for now, or never? 
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
Not actually to be extinct in a manner. Maybe will be lessen in the consumption in terms of cash but not literally to be extinct because no matter what happen, still there are large population of people who still wanted to use cash even more than the existing cryptocurrencies. Maybe what will be done is that cash will be just used for banking operations and for some countries who still prefer cash but not totally to be extinct in a worldwide manner. 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
Paper currency and coins are still the most common form of payment. for now cash can never be replaced with other mode of payment, just for now.
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
Cash can't be taken off the world, unless cash has something to be replaced as gold is replaced for cash now.
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, that only means that governments are taking the first steps to start a civil war against people. People who work hard to earn their money will not accept this type of transition.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 if governments manage to enforce that kind of thing, citzens would use every technology at their disposal to protect their wealth, like cryptocurrencies.
To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.
IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.
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
Hi there babsalt1975! A great article there, after reading it I discover another advantage of bitcoin or cryptocurrency as a whole. The shop thieves will got nothing by robbing a store that use bitcoin because there is no physical money present, there could be even no cash drawer. Lol. Since Sweden is said to be small country and if their government support the cryptocurrency I think that would be possible. Another benefit to the government is that they don’t need to print physical money that could save them millions. But the problem could be the people that still prefer to use physical money will be not in favor of this.
Yes and also save the environment by doing that. No more trees that will be cut down just crypto currencies all over the country which is circulating. For a small country this could really work.
Then, perhaps other small countries will be taking the next step if they see it working.
I say why not, paper money are loved just because of tradition only. We cannot just let go of it.
To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.
IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.
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